13 December 2017 Interpretation 187306
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|
|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|