hordruma/ontario_laws_and_regs huggingface dataset:
107. (1) Where a corporation has income for a taxation year from an oil or gas well that is outside Canada, in computing its income for the taxation year, it may deduct the lesser of, (a) the aggregate of drilling costs incurred by it in that taxation year and previous taxation years in respect of the well (not including the cost of land, leases or other rights and not including indirect expenses such as general exploration, geological and geophysical expenses) minus the aggregate of all amounts deductible in respect thereof in computing its income for previous taxation years; and (b) that part of its income for the taxation year that may reasonably be regarded as income from the well. (2) Where a corporation has more than one oil or gas well to which subsection (1) applies, the allowance in respect of the drilling costs of each well shall be computed separately.  R.R.O. 1990, Reg. 183, s. 107. Resource Allowance
202. (1) For the purposes of the definition of “eligible asset” in subsection 13 (1) of the Act, manufacturing and processing machinery or equipment that is acquired by the corporation for use in Ontario and that is described in class 39 of Schedule II to the regulations made under the Income Tax Act (Canada) is prescribed. (2) For the purposes of the definition of “eligible asset” in subsection 13 (1) of the Act, the following pollution control equipment is prescribed: 1. Property acquired by the corporation primarily for the purpose of preventing, reducing or eliminating pollution of any of the inland or boundary waters of Canada or of any lake, river, stream, watercourse, pond, swamp or well in Canada, that is caused by or would have been caused by, i. operations carried on by the corporation at a site in Ontario, ii. the operation in Ontario of a building or plant by the corporation, or iii. the operation of transportation or other movable equipment that has been operated by the corporation in Ontario (including any inland or boundary waters of Ontario). 2. Property acquired by the corporation primarily for the purpose of preventing, reducing or eliminating air pollution that is discharged or would have been discharged into the atmosphere as a result of operations referred to in paragraph 1, by removing particulate, toxic or injurious materials from smoke or gas or by preventing the discharge of part or all of the smoke, gas or other air pollutant. 3. Property acquired by the corporation that would be property referred to in paragraph 1 or 2 except that, i. it was acquired for the purpose of gaining or producing income from a business carried on by the corporation, ii. the business of the corporation includes the prevention, reduction or elimination of pollution described in paragraph 1 or 2, whichever is applicable, that is caused or that otherwise would be caused primarily by operations referred to in paragraph 1 carried on by persons other than the corporation, but not including corporations referred to in subsection 57 (1) of the Act or persons referred to in subsection 149 (1) of the Income Tax Act
(Canada), and iii. the property is to be used by the corporation in the business described in subparagraph ii. 4. Property acquired by the corporation that would be property referred to in paragraph 1 or 2 except that, i. it was acquired by the corporation for the purpose of gaining or producing income from a property, ii. the corporation’s principal business is the purchasing of conditional sales contracts, accounts receivable, bills of sale, chattel mortgages, bills of exchange or other obligations representing part or all of the sale price of merchandise or services, the lending of money or the leasing of property, or any combination of those activities, and iii. the property is to be leased to a person other than a corporation referred to in subsection 57 (1) of the Act or a person referred to in subsection 149 (1) of the Income Tax Act (Canada) to be used in an operation referred to in paragraph 1 to prevent, reduce or eliminate pollution described in paragraph 1 or 2.  O. Reg. 453/92, s. 2. Ontario New Technology Tax Incentive
506. (0.1) This section applies only in respect of taxation years commencing before January 1, 2006.  O. Reg. 624/05, s. 1. (1) For the purpose of subsection 78 (8) of the Act, “first instalment base”, of a corporation for a particular taxation year, means the product obtained when the tax payable by the corporation under the Act for its taxation year immediately preceding that particular taxation year is multiplied by the ratio that 365 is of the number of days in that preceding taxation year.  R.R.O. 1990, Reg. 183, s. 506 (1). (2) For the purpose of subsection 78 (8) of the Act, “second instalment base”, of a corporation for a particular taxation year, means the first instalment base of the corporation for the taxation year immediately preceding the particular year.  R.R.O. 1990, Reg. 183, s. 506 (2). (3) Despite subsections (1) and (2), for the purpose of subsection 78 (8) of the Act, where a particular taxation year of a new corporation that was formed as a result of an amalgamation (within the meaning of section 87 of the Income Tax Act (Canada) as made applicable by section 29 of the Act) is its first taxation year, (a) its “first instalment base” for the particular taxation year means the aggregate of all amounts, each of which is the product obtained when the tax payable under the Act by a predecessor corporation (within the meaning assigned by section 87 of the Income Tax Act (Canada) as made applicable by section 29 of the Act) for its last taxation year is multiplied by the ratio that 365 is of the number of days in that year; and (b) its “second instalment base” for the particular year means the aggregate of all amounts each of which is the first instalment base of a predecessor corporation for its last taxation year.  R.R.O. 1990, Reg. 183, s. 506 (3). (4) For the purposes of this section, the tax payable by a corporation under the Act for a taxation year shall be considered to be the amount of tax that would be determined under the Act if the corporation were not entitled under subsection 111 (1) of the Income Tax Act (Canada), as made applicable by section 34 of the Act, to deduct an amount in determining its taxable income for that year in respect of a loss for a taxation year that is after that year.  O. Reg. 306/97, s. 4.