A-25, r. 3.1 - Regulation respecting insurance contributions

Section 45 Disposition versions

2012-09-01

45. For payment due dates prior to 2013, the rounding off rules provided for in section 44 are replaced by the adjustment rules described in this section.

The amount of an insurance contribution is adjusted as follows:

(1)  the amount is multiplied by the rate equivalent to the tax rate in respect of the insurance contribution provided for in section 512 of the Act respecting the Québec sales tax (chapter T-0.1);

(2)  the amount of the insurance contribution is added to the amount obtained pursuant to subparagraph 1;

(3)  the amount obtained pursuant to subparagraph 2 is rounded as follows to the nearest dollar if it contains a fraction of a dollar and

(a)  if the fraction of a dollar is $0.50 or more: to the next highest dollar;

(b)  if the fraction of a dollar is less than $0.50: to the next lowest dollar;

(4)  the rate equivalent to the tax rate in respect of the insurance contribution provided for in section 512 of the Act respecting the Québec sales tax is added to 1;

(5)  the amount obtained pursuant to subparagraph 3 is divided by the amount obtained pursuant to subparagraph 4.

If the amount obtained pursuant to subparagraph 5 of the first paragraph has more than 2 decimals, only the first 2 digits are retained.

With respect to a passenger vehicle referred to in section 98 or 99 of the Regulation respecting road vehicle registration (chapter C-24.2, r. 29), the rate referred to in subparagraph 1 of the first paragraph is 0.

Decision 2012-01-05, s. 45.