Income Tax Act — I-3.3 (a)
qualified property , of a taxpayer, means property (other than a qualified resource property) that is (a) a prescribed building to the extent that it is acquired by the taxpayer after June 23, 1975, (b) prescribed machinery and equipment acquired by the taxpayer after June 23, 1975, or (b.1) prescribed energy generation and conservation property acquired by the taxpayer after March 28, 2012, that has not been used, or acquired for use or lease, for any purpose whatever before it was acquired by the taxpayer and that is (c) to be used by the taxpayer in Canada primarily for the purpose of (i) manufacturing or processing goods for sale or lease, (ii) farming or fishing, (iii) logging, (iv) storing grain, or (v) harvesting peat, (vi) to (xiii) [Repealed, 2012, c. 31, s. 27] (c.1) property (other than property described in paragraph (b.1)) to be used by the taxpayer in Canada primarily for the purpose of producing or processing electrical energy or steam in a prescribed area, if (i) all or substantially all of the energy or steam (A) is used by the taxpayer for the purpose of gaining or producing income from a business (other than the business of selling the product of the particular property), or (B) is sold directly (or indirectly by way of sale to a provincially regulated power utility operating in the prescribed area) to a person related to the taxpayer, and (ii) the energy or steam is used by the taxpayer or the person related to the taxpayer primarily for the purpose of manufacturing or processing goods in the prescribed area for sale or lease, or (d) to be leased by the taxpayer to a lessee (other than a person exempt from tax under this Part because of section 149) who can reasonably be expected to use the property in Canada primarily for any of the purposes referred to in paragraph (c), but this paragraph does not apply to property that is prescribed for the purposes of paragraph (b) or (b.1) unless (i) the property is leased in the ordinary course of carrying on a business in Canada by a corporation whose principal business is leasing property, lending money, purchasing conditional sales contracts, accounts receivable, bills of sale, chattel mortgages or hypothecary claims on movables, bills of exchange or other obligations representing all or part of the sale price of merchandise or services, or any combination thereof, (ii) the property is manufactured and leased in the ordinary course of carrying on business in Canada by a corporation whose principal business is manufacturing property that it sells or leases, (iii) the property is leased in the ordinary course of carrying on business in Canada by a corporation whose principal business is selling or servicing property of that type, or (iv) the property is a fishing vessel, including the furniture, fittings and equipment attached to it, leased by an individual (other than a trust) to a corporation, controlled by the individual, that carries on a fishing business in connection with one or more commercial fishing licences issued by the Government of Canada to the individual, and, for the purpose of this definition, Canada includes the offshore region prescribed for the purpose of the definition specified percentage ; ( bien admissible )