Income Tax Act — I-3.3 127.491
nce in subsection 127(11.‍6) to subsection 127(26) is to be read as a reference to subsection 127.‍491(14), and (iii) the term “a qualified expenditure” is to be read as “an expenditure eligible to be added to the capital cost of a clean electricity property”. Deemed deduction (10) For the purposes of this section, paragraph 12(1)(t), subsection 13(7.1), the description of I in the definition undepreciated capital cost in subsection 13(21), subsection 53(2) and sections 127.44, 127.45, 127.48, 127.49 and 129, the amount determined under subsection (2) for a qualifying entity for a taxation year is deemed to have been deducted from its tax otherwise payable under this Part for the year. Repayment of assistance (11) Where a qualifying entity has, in a particular taxation year, repaid (or has not received and can no longer reasonably be expected to receive) an amount of government assistance or non-government assistance that was applied to reduce the capital cost of a particular property under paragraph (9)‍(c) for a preceding taxation year, the amount repaid (or no longer expected to be received) is to be added to the capital cost to the entity of a separate clean electricity property that is deemed to be acquired in the particular year for the purposes of this section, provided that a transaction or event described in paragraph (16)(c) has not occurred in respect of the particular property. Partnerships (12) Subject to section 127.47, where, in a particular taxation year of a qualifying entity that is a member of a partnership, an amount would be determined under subsection (2) in respect of the partnership, for its taxation year that ends in the particular year, if the partnership were a taxable Canadian corporation and its fiscal period were its taxation year, the portion of that amount that can reasonably be considered to be the qualifying entity’s share thereof shall be added in computing the clean electricity investment tax credit of the qualifying entity at the end of the particular year. Trust — assistance received by beneficiary (13) For the purposes of computing a clean electricity investment tax credit, where at a particular time a qualifying corporation described in paragraph (a) of the definition qualifying trust is a beneficiary of a qualifying trust, and the beneficiary or the trust has received, is entitled to receive or can reasonably be expected to receive government assistance or non-government assistance, the amount of that assistance that may reasonably be considered to be in respect of a clean electricity property for which a clean electricity investment tax credit is allocated by a partnership to the trust shall be deemed to have been received by the partnership as government assistance or non-government assistance, as the case may be, in respect of the property. Unpaid amounts (14) For the purposes of this section, where any part of the capital cost of a qualifying entity’s particular clean electricity property is unpaid on the day that is 180 days after the end of the taxation year in which a deduction in respect of a clean electricity investment tax credit would otherwise be available in respect of the particular property, such amount is deemed to be (a) excluded from the capital cost of the particular property in the year; and (b) added to the capital cost of a separate clean electricity property that is deemed to be acquired by the qualifying entity at the time the amount is paid, provided that a transaction or event described in paragraph (16)(c) has not occurred in respect of the particular property. Tax shelter investment (15) Subsection (2) does not apply if a clean electricity property — or an interest in a person or partnership that has, directly or indirectly, an interest in, or for civil law, a right in, such property — is a tax shelter investment for the purpose of section 143.2. Recapture — conditions for application (16) Subsection (17) applies in a taxation year of a taxpayer if (a) the ta