Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
John BrooksMerchandising, Manufacturing andConstruction Section
Issue
Whether Revenue Canada, Taxation is required to recognize an object as a vessel where the Department of Industry, Science and Technology may issue a certificate pursuant to Regulation 1101(2a).
24(1)
Issue
Whether the term "vessel" includes 24(1) and hence enable the structure to qualify for an accelerated rate of capital cost allowance pursuant to Regulation 1100(1)(v).
Position
24(1)
Rationale
Although the definition of vessel in paragraph 13(21)(g) of the Act refers to a definition in the Canada Shipping Act ("CSA"), there is no requirement for our Department to apply the same administrative rules that the Department of Transport may use in administering the CSA. In the CSA, a vessel is defined as including any ship or boat or any other description of vessel used or designed to be used in navigation. 24(1)
24(1)
23
Our interpretation is in accord with the policy intent of the accelerated allowance. The Department of Finance noted that this provision was intended for transportation equipment and not for 24(1)
21(1)(b)
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© Her Majesty the Queen in Right of Canada, 1990
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© Sa Majesté la Reine du Chef du Canada, 1990
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