Topic:"Income Tax Act" in M09163

1. NATURE OF OPERATIONS EfficiencyOne ("the Corporation") was incorporated in July 2014 under the Canada Not‐for‐profit Corporations Act. Under Section 79C of the Public Utilities Act, the Corporation, as the franchise holder, has the excl...

AI summary EfficiencyOne, a not-for-profit corporation incorporated in 2014, operates under the Public Utilities Act, providing electricity efficiency and conservation services exclusively to NS Power. The franchise agreement expires in 2025, and the Corporation is exempt from income taxes under the Income Tax Act.

ass 10.1. Note 6. If the tax year is shorter than 365 days, prorate the CCA claim. Some classes of property do not have to be prorated. See the T2 Corporation Income Tax Guide for more information. Note 7. At the time the program was relea...

AI summary This text discusses the proration of Capital Cost Allowance (CCA) for tax years shorter than 365 days and mentions that Schedule 8 of the CRA had not been updated to reflect new measures proposed in a 2018 notice. The CCA calculation in column 12 accounts for these new measures.