I-4, r. 1 - Regulation respecting the application of the Taxation Act (1980)

Updated to 1 July 2024

This document has official status.

chapter I-4, r. 1

Regulation respecting the application of the Taxation Act (1980)

Act respecting the application of the Taxation Act

(chapter I-4, s. 104).

R.R.Q., 1981, c. I-4, r. 1; I.N. 2018-07-01.

DIVISION I INTERPRETATION AND GENERALITIES

0R1. In this Regulation, the word “Act” means the Act respecting the application of the Taxation Act (chapter I-4).

R.R.Q., 1981, c. I-4, r. 1, s. 0R1.

0R2. For the purpose of facilitating the finding of the provisions of the Act giving rise to a regulatory provision, the figures that precede the letter R in the numbering of this Regulation refer, for the purpose of guidance only, to the section of the Act providing for such regulatory provision.

R.R.Q., 1981, c. I-4, r. 1, s. 0R2.

0R3. The declaratory and interpretative provisions in the Interpretation Act (chapter I-16) apply, with the necessary modifications, to this Regulation.

R.R.Q., 1981, c. I-4, r. 1, s. 0R3; O.C. 1466-98, s. 1.

9R1. The “undepreciated portion of the capital cost according to the straight-line method of depreciation”, in respect of the property of a corporation, means the undepreciated capital cost of all depreciable property of the corporation for the purposes of the former Corporation Tax Act on the last day of its taxation year in process on 31 December 1960.

R.R.Q., 1981, c. I-4, r. 1, s. 9R1.

9R2. The “undepreciated portion of the capital cost according to the diminishing balance method of depreciation”, in respect of the property of a corporation, means the capital cost for the corporation of its depreciable property, as accepted for the purposes of the Income Tax Act (R.S.C., 1952, c. 148) on the last day of its taxation year in process on 31 December 1960, less the depreciation allowed up to that last day for the purposes of the said Act.

R.R.Q., 1981, c. I-4, r. 1, s. 9R2.

10R1. For the purposes of section 10 of the Act, the deduction contemplated therein shall be made after the deductions provided for in Book IV of Part I of the Taxation Act (chapter I-3).

R.R.Q., 1981, c. I-4, r. 1, s. 10R1.

12R1. For the purposes of section 12 of the Act, the amount contemplated therein shall be added to the taxable income of a corporation after the deductions provided for by Book IV of Part I of the Taxation Act (chapter I-3).

R.R.Q., 1981, c. I-4, r. 1, s. 12R1.

42R1. (Revoked).

R.R.Q., 1981, c. I-4, r. 1, s. 42R1; O.C. 1466-98, s. 2.

42R2. (Revoked).

R.R.Q., 1981, c. I-4, r. 1, s. 42R2; O.C. 1466-98, s. 2.

42R3. (Revoked).

R.R.Q., 1981, c. I-4, r. 1, s. 42R3; O.C. 1466-98, s. 2.

49R1. For the purposes of sections 49 and 50 of the Act, the securities and shares listed in Schedule VII, referred to in Part XLIV of the Income Tax Regulations adopted under section 24 and subsection 11 of section 26 of Chapter 63 of the Statutes of Canada of 1970-71-72, are prescribed as being publicly issued.

R.R.Q., 1981, c. I-4, r. 1, s. 49R1.

50R1. For the purposes of section 50 of the Act, the prescribed amount means, in respect of a security or a share contemplated therein, the amount shown in respect of that security or that share in the Schedule mentioned in section 49R1.

R.R.Q., 1981, c. I-4, r. 1, s. 50R1.

DIVISION II COMPUTATION OF THE ADJUSTED COST BASE OF AN INTEREST IN A PARTNERSHIP

83R1. The expenses contemplated in subparagraph iii of paragraph b of section 83 of the Act shall be included in the aggregate contemplated in that paragraph only to the extent that they were incurred after 1948 and were not deducted by the taxpayer in computing his income from the partnership for his 1971 taxation year or any prior year for the purposes of the 1948 Income Tax Act (S.C., 1948, c. 52) or the Income Tax Act (R.S.C., 1952, c. 148).

R.R.Q., 1981, c. I-4, r. 1, s. 83R1.

DIVISION III FINAL PROVISIONS

200R1. This Regulation replaces the “Regulation respecting the application of the Taxation Act” called in this Division the “former regulation” made by Order in Council 3785-72 dated 13 December 1972 and amended by the regulations made by Orders in Council 4478-73 dated 5 December 1973, 4644-73 dated 12 December 1973, 2023-75 dated 14 May 1975, 2220-76 dated 23 June 1976, 1640-78 dated 17 May 1978 and 377-79 dated 7 February 1979, with the exception of sections 86.1 to 86.4, 91.1 to 91.5, 93.1 to 93.3, 102.1, 103.1, 103c.1, 103d.1, 104.1, 135.1 and 149.1.

R.R.Q., 1981, c. I-4, r. 1, s. 200R1.

200R2. Notwithstanding section 200R1, the provisions of the former regulation respecting its application continue to apply and govern the corresponding provisions of this Regulation.

A reference to a provision of this Regulation concerning a period prior to 16 July 1980 is a reference to the corresponding provision of the Regulation respecting the application of the Taxation Act into force immediately before 16 July 1980.

Similarly, a reference to the former regulation or to any of its provision replaced by section 200R1 is deemed, after 16 July 1980, to be a reference to this Regulation or to the corresponding provision therein.

R.R.Q., 1981, c. I-4, r. 1, s. 200R2.

REFERENCES

R.R.Q., 1981, c. I-4, r. 1

O.C. 1707-97, 1997 G.O. 2, 6348

O.C. 1466-98, 1998 G.O. 2, 4610