Income Tax Regulations — 2900
lendar year an individual who is a specified employee of the taxpayer, (c) the taxpayer is associated with another corporation (referred to as the “associated corporation”) in a taxation year of the associated corporation ending in the calendar year, and (d) the individual is an employee of the associated corporation in the taxation year of the associated corporation ending in the calendar year, the total of all amounts that may be included in computing the total described in subsection (4) in respect of salaries or wages of the individual by the taxpayer in its taxation year ending in the calendar year and by all associated corporations in their taxation years ending in the calendar year shall not exceed the amount that is 2.5 times the Year’s Maximum Pensionable Earnings (as determined under section 18 of the Canada Pension Plan ) for the calendar year. (9) For the purposes of subsections (4) and (7), an amount incurred in respect of salary or wages of an employee in a taxation year does not include (a) an amount described in section 6 or 7 of the Act; (b) an amount deemed under subsection 78(4) of the Act to have been incurred; (c) bonuses; or (d) remuneration based on profits. (10) For the purpose of subsection (8), (a) an individual related to a particular corporation, and (b) a partnership any member of which is an individual related to a particular corporation or is a corporation associated with a particular corporation, shall be deemed to be a corporation associated with the particular corporation. (11) The depreciable property of a taxpayer that is prescribed for the purposes of the definition first term shared-use-equipment in subsection 127(9) of the Act is (a) a building of the taxpayer; (b) a leasehold interest of the taxpayer in a building; (c) a property of the taxpayer if, at the time it was acquired by the taxpayer, the taxpayer or a person related to the taxpayer intended that it would be used in the prosecution of scientific research and experimental development during the assembly, construction or commissioning of a facility, plant or line for commercial manufacturing, commercial processing or other commercial purposes (other than scientific research and experimental development) and intended (i) that it would be used during its operating time in its expected useful life primarily for purposes other than scientific research and experimental development, or (ii) that its value would be consumed primarily in activities other than scientific research and experimental development; and (d) part of a property of the taxpayer if, at the time the part was acquired by the taxpayer, the taxpayer or a person related to the taxpayer intended that the part would be used in the prosecution of scientific research and experimental development during the assembly, construction or commissioning of a facility, plant or line for commercial manufacturing, commercial processing or other commercial purposes (other than scientific research and experimental development), and intended (i) that it would be used during its operating time in its expected useful life primarily for purposes other than scientific research and experimental development, or (ii) that its value would be consumed primarily in activities other than scientific research and experimental development. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-749, s. 1; SOR/86-1136, ss. 3, 4; SOR/94-686, s. 53(F); SOR/95-63, s. 1; SOR/2000-296, s. 1; 2012, c. 31, s. 62