I-3, r. 1 - Regulation respecting the Taxation Act

Section 818r10 Disposition versions

2017-04-12

818R10. (Revoked).

s. 818R8; O.C. 3926-80, s. 31; R.R.Q., 1981, c. I-3, r. 1, s. 818R8; O.C. 2962-82, s. 79; O.C. 500-83, s. 79; O.C. 91-94, s. 60; O.C. 35-96, s. 86; O.C. 1463-2001, s. 77; O.C. 134-2009, s. 1; O.C. 321-2017, s. 36.

2012-09-01

818R10. The aggregate referred to in section 818R9 in respect of an insurer referred to therein is an amount that is

(a)  its maximum tax actuarial reserve for the year;

(b)  the maximum amount that it may deduct under paragraph a.1 of section 840 of the Act for the year;

(c)  the maximum amount that it is entitled to deduct under the second paragraph of section 152 of the Act in computing its income for the year, determined on the assumption that the only insurance business, other than a life insurance business, carried on by it in Canada is an accident and sickness insurance business;

(d)  the amount of the policy dividends, to the extent that they are not included under paragraph a or c, that, according to the annual report filed by the insurer with the Superintendent of Financial Institutions for the year or, where the insurer was subject to the supervision of the Superintendent of Financial Institutions throughout the year but was not required to file an annual report with the Superintendent for the year, according to its financial statements for the year, will become payable by the insurer during the following year under its participating life insurance policies;

(e)  liabilities incurred or reserves deducted in the course of carrying on its property and casualty insurance business in Canada, as determined by the insurer in its annual report for the year filed with the Superintendent of Financial Institutions or, where the insurer was subject to the supervision of the Superintendent of Financial Institutions throughout the year but was not required to file an annual report with the Superintendent for the year, in its financial statements for the year, except to the extent that those amounts are already included under paragraph c;

(f)  a debt owing by it at the end of the year and incurred by it in the course of carrying on its insurance business in Canada, other than a property and casualty insurance business in Canada, except to the extent that it is already included under any of paragraphs a, b and d; and

(g)  the amount that is the greater of its “attributed surplus for the year” for the taxation year or the amount by which the aggregate of its surplus fund derived from operations at the end of the preceding taxation year and the amounts in respect of which it made an election under subsection 4 or 5.2 of section 219 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), to the extent that those amounts are included in the aggregate determined in respect of the insurer at the end of its preceding taxation year under subparagraph i.1 of paragraph a of subsection 4 of section 219, exceeds the aggregate referred to in subparagraphs ii to v of paragraph a of subsection 4 of section 219 in respect of the insurer at the end of the year.

s. 818R8; O.C. 3926-80, s. 31; R.R.Q., 1981, c. I-3, r. 1, s. 818R8; O.C. 2962-82, s. 79; O.C. 500-83, s. 79; O.C. 91-94, s. 60; O.C. 35-96, s. 86; O.C. 1463-2001, s. 77; O.C. 134-2009, s. 1.