Income Tax Regulations — 1104
1104 (1) Where the taxpayer is an individual and his income for the taxation year includes income from a business the fiscal period of which does not coincide with the calendar year, in respect of the depreciable properties acquired for the purpose of gaining or producing income from the business, a reference in this Part to end of the taxation year shall be deemed to be a reference to the end of the fiscal period of the business; ( la fin de l’année d’imposition ) taxation year shall be deemed to be a reference to the fiscal period of the business. ( l’année d’imposition ) (2) In this Part and in Schedule II, bitumen development phase of a taxpayer’s oil sands project means a development phase that expands the oil sands project’s capacity to extract and initially process tar sands to produce bitumen or a similar product; ( phase de mise en valeur du bitume ) certified feature film means a motion picture film certified by the Minister of Communications to be a film of not less than 75 minutes running time in respect of which all photography or art work specifically required for the production thereof and all film editing therefor were commenced after November 18, 1974, and either the film was completed before May 26, 1976, or the photography or art work was commenced before May 26, 1976, and certified by him to be (a) a film the production of which is contemplated in a coproduction agreement entered into between Canada and another country, or (b) a film in respect of which (i) the person who performed the duties of producer was a Canadian, (ii) no fewer than 2/3 in number of all the persons each of whom (A) was a person who performed the duties of director, screenwriter, music composer, art director, picture editor or director of photography, or (B) was the individual in respect of whose services as an actor or actress in respect of the film the highest remuneration or the second highest remuneration was paid or payable, were Canadians, (iii) not less than 75 per cent of the aggregate of the remuneration paid or payable to persons for services provided in respect of the film (other than remuneration paid or payable to or in respect of the persons referred to in subparagraphs (i) and (ii) or remuneration paid or payable for processing and final preparation of the film) was paid or payable to Canadians, (iv) not less than 75 per cent of the aggregate of costs incurred for processing and final preparation of the film including laboratory work, sound recording, sound editing and picture editing (other than remuneration paid or payable to or in respect of persons referred to in subparagraphs (i), (ii) and (iii)), was incurred in respect of services rendered in Canada, and (v) the copyright protecting its use in Canada is beneficially owned (A) by a person who is either a Canadian or a corporation incorporated under the laws of Canada or a province, or (B) jointly or otherwise by two or more persons described in clause (A), other than a film (c) acquired after the day that is the earlier of (i) the day of its first commercial use, and (ii) 12 months after the day the principal photography thereof is completed, or (d) in respect of which certification under this definition has been revoked by the Minister of Communications as provided in paragraph (10)(b); ( long métrage portant visa ) certified production , in respect of a particular taxation year, means a motion picture film or video tape certified by the Minister of Communications to be a film or tape in respect of which all photography, taping or art work required specifically for the production thereof and all film or tape editing therefor were commenced after May 25, 1976, certified by him to be a film or tape in respect of which the principal photography or taping thereof was commenced before the end of the particular taxation year or was completed no later than 60 days after the end of that year and certified by him to be (a) a film or tape the production of which is contempl