D-13.2 - Succession Duty Act

Section 37 Disposition versions

1986-05-27

37. (Repealed).

1978, c. 37, s. 37; 1979, c. 32, s. 15; 1986, c. 15, s. 4.

1979-06-22

37. Where, among the property transmitted in the direct line owing to the death of a person to a beneficiary resident or domiciled in Québec, there are shares of a private corporation, the beneficiary may deduct from the duties otherwise payable by him one-half of the duties proportionately attributable to those shares.

However, if the beneficiary, otherwise than following his death, an expropriation or an alienation contemplated in Chapters IV, V and VI of Title IX of Book III of Part I of the Taxation Act, disposes within seven years after the death of that person of one or several of such shares, he shall then remit to the Minister the amount he has effectively deducted with respect to those shares under the first paragraph, proportionately to the number of shares he will have so disposed of in relation to the number of shares transmitted to him owing to death; he shall also remit the amount so deducted if the gross revenue of the corporation for a financial year of that period ceases to be derived at least 50 per cent from the carrying on of an active business.

1978, c. 37, s. 37; 1979, c. 32, s. 15.

1978-12-22

37. Where, among the property transmitted in the direct line owing to the death of a person to a beneficiary resident or domiciled in Québec, there are shares of a private corporation, the beneficiary may deduct from the duties otherwise payable by him one-half of the duties proportionately attributable to those shares.

However, if the beneficiary, otherwise than following his death, an expropriation or an alienation contemplated in Chapters IV, V and VI of Title IX of Book III of the Taxation Act, disposes within seven years after the death of that person of one or several of such shares, he shall then remit to the Minister the amount he has effectively deducted with respect to those shares under the preceding paragraph, proportionately to the number of shares he will have so disposed of in relation to the number of shares transmitted to him owing to death; he shall also remit the amount so deducted if the gross revenue of the corporation for a financial year of that period ceases to be derived at least 50 per cent from the carrying on of an active business.

1978, c. 37, s. 37.