Administrative Policy
13 December 2017 Interpretation 187306
s. 16.1 election did not deem leased property to be capital property
CRA considered that a leased property for which an ITA s. 16.1 election has been made is effectively deemed to be a depreciable property for CCA purposes, but is not deemed to be generally a capital property, so that the leased property also is not a capital property for ETA purposes.
Locations of other summaries | Wordcount | |
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Tax Topics - Excise Tax Act - Section 225.1 - Subsection 225.1(2) - B | s. 16.1 election does not cause a leased property to be a capital property | 281 |
Tax Topics - Excise Tax Act - Section 169 - Subsection 169(1) | acquisition of property entails ownership transfer | 120 |