I-3 - Taxation Act

Section 156.14 Disposition versions

2017-12-07

156.14. Subject to section 156.15, a manufacturing corporation for a taxation year may deduct, in computing its income from a business for the year, an amount equal to

(a)  the amount obtained by multiplying its gross revenue for the year by the additional deduction rate applicable to it for the year, if 10% is the additional deduction rate that would be applicable to it for the year in the absence of section 156.13; or

(b)  in any other case, the lesser of

i.  the amount obtained by multiplying its gross revenue for the year by the additional deduction rate applicable to it for the year, and

ii.  the regional limit that is applicable to it for the year.

In this section and in section 156.14.1, “regional limit” applicable to a manufacturing corporation for a taxation year means

(a)  $50,000, if 1% is the additional deduction rate that would be applicable to the corporation for the year in the absence of section 156.13;

(b)  $150,000, if 3% is the additional deduction rate that would be applicable to the corporation for the year in the absence of section 156.13; or

(c)  $350,000, if 5% is the additional deduction rate that would be applicable to the corporation for the year in the absence of section 156.13.

For the purposes of the definition of “regional limit” in the second paragraph, if the number of days in the manufacturing corporation’s taxation year is less than 365, the amount of $50,000, $150,000 or $350,000, as the case may be, is to be replaced by the proportion of that amount that the number of days in the year is of 365.

2015, c. 21, s. 125; 2015, c. 24, s. 30; 2017, c. 29, s. 43.

2015-10-26

156.14. Subject to section 156.15, a manufacturing corporation for a taxation year may deduct, in computing its income from a business for the year, an amount equal to

(a)  the amount obtained by multiplying its gross revenue for the year by the additional deduction rate applicable to it for the year, if 7% is the additional deduction rate that would be applicable to it for the year in the absence of section 156.13; or

(b)  in any other case, the lesser of

i.  the amount obtained by multiplying its gross revenue for the year by the additional deduction rate applicable to it for the year, and

ii.  the regional limit that is applicable to it for the year.

In this section and in section 156.14.1, “regional limit” applicable to a manufacturing corporation for a taxation year means

(a)  $50,000, if 1% is the additional deduction rate that would be applicable to the corporation for the year in the absence of section 156.13;

(b)  $150,000, if 3% is the additional deduction rate that would be applicable to the corporation for the year in the absence of section 156.13; or

(c)  $350,000, if 5% is the additional deduction rate that would be applicable to the corporation for the year in the absence of section 156.13.

For the purposes of the definition of “regional limit” in the second paragraph, if the number of days in the manufacturing corporation’s taxation year is less than 365, the amount of $50,000, $150,000 or $350,000, as the case may be, is to be replaced by the proportion of that amount that the number of days in the year is of 365.

2015, c. 21, s. 125; 2015, c. 24, s. 30.

2015-10-21

156.14. Subject to section 156.15, a manufacturing corporation for a taxation year may deduct, in computing its income from a business for the year, an amount equal to the amount obtained by multiplying its gross revenue for the year by the additional deduction rate applicable to it for the year.

However, the amount of the deduction to which the manufacturing corporation is entitled under the first paragraph may not exceed

(a)  $100,000, if 2% is the additional deduction rate that would be applicable to the corporation for the year in the absence of section 156.13; and

(b)  $250,000, if 4% is the additional deduction rate that would be applicable to the corporation for the year in the absence of section 156.13.

For the purposes of the second paragraph, if the number of days in the manufacturing corporation’s taxation year is less than 365, the amount of $100,000 or $250,000, as the case may be, is to be replaced by the proportion of the amount that the number of days in the year is of 365.

2015, c. 21, s. 125.