Accelerated investment incentive property (AIIP)

In this guide, “accelerated investment incentive property” means property (other than property included in class 54, 55 or 56) that:

• is acquired after November 20, 2018, but before January 1, 2025, and is considered available for use before 2028
• is acquired after 2024 and is considered available for use before 2034 (also known as “reaccelerated investment incentive property”)

To be considered AIIP, the property must meet one of the following conditions:

• No capital cost allowance (or deduction for terminal loss) has been claimed in respect of the property by the taxpayer (or by another person or partnership) for a fiscal period ending before the time the property was acquired by the taxpayer.
• The property was not:
  • acquired as part of a tax-deferred transfer
  • previously owned or acquired by the taxpayer or by a person or partnership with which the taxpayer did not deal at arm's length at any time when the property was owned or acquired by the person or partnership

"Tax-deferred transfer" means an amalgamation under section 544 of the Taxation Act or a rollover under section 518 of the Act.