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

Section 87r5 Disposition versions

2023-12-13

87R5. For the purposes of paragraph w of section 87 of the Act, the following are prescribed amounts:

(a)  an amount described in paragraph g or i of section 488R1;

(b)  an amount of any assistance granted to a taxpayer and that is prescribed assistance under section 241.0.1R2, or would be prescribed assistance under that section if that section applied in respect of, or for the acquisition of, a share of the capital stock of a corporation registered under the Act respecting Québec business investment companies (chapter S-29.1);

(c)  an amount deducted under subsection 5 or 6 of section 127 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) that may reasonably be considered to be related to

i.  an amount that is a qualified expenditure within the meaning of subsection 9 of that section 127, and that is, for the purposes of the definition of that expression, an expenditure made after 30 April 1987 and before 10 May 1996 or a proxy amount computed by reference to an expenditure incurred as salary or wages before 10 May 1996 or

ii.  an amount that is a flow-through mining expenditure or a flow-through critical mineral mining expenditure, within the meaning assigned to those expressions by subsection 9 of that section 127;

(d)  an amount paid by the National Aboriginal Economic Development Board (P.C. 1983-3394, 83-10-31) pursuant to the Native Economic Development Program, or paid under the Aboriginal Capital Corporation Program of the Canadian Aboriginal Economic Development Strategy, to a corporation whose purpose is to provide loans, loan guarantees, bridge financing, venture capital, lease financing, surety bonding or other similar financing services to aboriginal enterprises and where all of the shares of the capital stock of the corporation are

i.  owned by aboriginal individuals,

ii.  held in trust for the exclusive benefit of aboriginal individuals,

iii.  owned by a corporation, all the shares of which are owned by aboriginal individuals or held in trust for the exclusive benefit of aboriginal individuals, or

iv.  owned or held in a combination of ownership or holding structures described in any of subparagraphs i to iii;

(e)  the amount that the taxpayer is required to include, for the purposes of the Income Tax Act, in computing the taxpayer’s income for the year under paragraph x.1 of subsection 1 of section 12 of that Act;

(f)  an amount paid pursuant to subparagraph a of the first paragraph of section 94.0.3.2 of the Tax Administration Act (chapter A-6.002);

(g)  an amount that is the portion of a student loan forgiven under section 11.1 of the Canada Student Loans Act (R.S.C. 1985, c. S-23) or section 9.2 of the Canada Student Financial Assistance Act (S.C. 1994, c. 28);

(h)  an amount that is the portion of a student loan forgiven under a provincial program that would be an amount referred to in paragraph g if section 11.1 of the Canada Student Loans Act or section 9.2 of the Canada Student Financial Assistance Act applied to loans made under the program; and

(i)  an emissions allowance issued to the taxpayer under a law of Québec, of Canada or of another province.

s. 87R4; O.C. 140-90, s. 2; O.C. 1232-91, s. 1; O.C. 1114-92, s. 8; O.C. 1539-93, s. 1; O.C. 91-94, s. 1; O.C. 35-96, s. 86; O.C. 523-96, s. 4; O.C. 1707-97, s. 9; O.C. 1466-98, s. 8; O.C. 1282-2003, s. 6; O.C. 1155-2004, s. 7; O.C. 1116-2007, s. 4; O.C. 134-2009, s. 1; O.C. 701-2013, s. 3; O.C. 117-2019, s. 4; O.C. 204-2020, s. 2; O.C. 1726-2023, s. 3.

2020-04-01

87R5. For the purposes of paragraph w of section 87 of the Act, the following are prescribed amounts:

(a)  an amount described in paragraph g or i of section 488R1;

(b)  an amount of any assistance granted to a taxpayer and that is prescribed assistance under section 241.0.1R2, or would be prescribed assistance under that section if that section applied in respect of, or for the acquisition of, a share of the capital stock of a corporation registered under the Act respecting Québec business investment companies (chapter S-29.1);

(c)  an amount deducted under subsection 5 or 6 of section 127 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) that may reasonably be considered to be related to

i.  an amount that is a qualified expenditure within the meaning of subsection 9 of that section 127, and that is, for the purposes of the definition of that expression, an expenditure made after 30 April 1987 and before 10 May 1996 or a proxy amount computed by reference to an expenditure incurred as salary or wages before 10 May 1996 or

ii.  an amount that is a flow-through mining expenditure, within the meaning of subsection 9 of that section 127;

(d)  an amount paid by the National Aboriginal Economic Development Board (P.C. 1983-3394, 83-10-31) pursuant to the Native Economic Development Program, or paid under the Aboriginal Capital Corporation Program of the Canadian Aboriginal Economic Development Strategy, to a corporation whose purpose is to provide loans, loan guarantees, bridge financing, venture capital, lease financing, surety bonding or other similar financing services to aboriginal enterprises and where all of the shares of the capital stock of the corporation are

i.  owned by aboriginal individuals,

ii.  held in trust for the exclusive benefit of aboriginal individuals,

iii.  owned by a corporation, all the shares of which are owned by aboriginal individuals or held in trust for the exclusive benefit of aboriginal individuals, or

iv.  owned or held in a combination of ownership or holding structures described in any of subparagraphs i to iii;

(e)  the amount that the taxpayer is required to include, for the purposes of the Income Tax Act, in computing the taxpayer’s income for the year under paragraph x.1 of subsection 1 of section 12 of that Act;

(f)  an amount paid pursuant to subparagraph a of the first paragraph of section 94.0.3.2 of the Tax Administration Act (chapter A-6.002);

(g)  an amount that is the portion of a student loan forgiven under section 11.1 of the Canada Student Loans Act (R.S.C. 1985, c. S-23) or section 9.2 of the Canada Student Financial Assistance Act (S.C. 1994, c. 28);

(h)  an amount that is the portion of a student loan forgiven under a provincial program that would be an amount referred to in paragraph g if section 11.1 of the Canada Student Loans Act or section 9.2 of the Canada Student Financial Assistance Act applied to loans made under the program; and

(i)  an emissions allowance issued to the taxpayer under a law of Québec, of Canada or of another province.

s. 87R4; O.C. 140-90, s. 2; O.C. 1232-91, s. 1; O.C. 1114-92, s. 8; O.C. 1539-93, s. 1; O.C. 91-94, s. 1; O.C. 35-96, s. 86; O.C. 523-96, s. 4; O.C. 1707-97, s. 9; O.C. 1466-98, s. 8; O.C. 1282-2003, s. 6; O.C. 1155-2004, s. 7; O.C. 1116-2007, s. 4; O.C. 134-2009, s. 1; O.C. 701-2013, s. 3; O.C. 117-2019, s. 4; O.C. 204-2020, s. 2.

2019-02-27

87R5. For the purposes of paragraph w of section 87 of the Act, the following are prescribed amounts:

(a)  an amount described in paragraph g or i of section 488R1;

(b)  an amount of any assistance granted to a taxpayer and that is prescribed assistance under section 241.0.1R2, or would be prescribed assistance under that section if that section applied in respect of, or for the acquisition of, a share of the capital stock of a corporation registered under the Act respecting Québec business investment companies (chapter S-29.1);

(c)  an amount deducted under subsection 5 or 6 of section 127 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) that may reasonably be considered to be related to

i.  an amount that is a qualified expenditure within the meaning of subsection 9 of that section 127, and that is, for the purposes of the definition of that expression, an expenditure made after 30 April 1987 and before 10 May 1996 or a proxy amount computed by reference to an expenditure incurred as salary or wages before 10 May 1996 or

ii.  an amount that is a flow-through mining expenditure, within the meaning of subsection 9 of that section 127;

(d)  an amount paid by the National Aboriginal Economic Development Board (P.C. 1983-3394, 83-10-31) pursuant to the Native Economic Development Program, or paid under the Aboriginal Capital Corporation Program of the Canadian Aboriginal Economic Development Strategy, to a corporation whose purpose is to provide loans, loan guarantees, bridge financing, venture capital, lease financing, surety bonding or other similar financing services to aboriginal enterprises and where all of the shares of the capital stock of the corporation are

i.  owned by aboriginal individuals,

ii.  held in trust for the exclusive benefit of aboriginal individuals,

iii.  owned by a corporation, all the shares of which are owned by aboriginal individuals or held in trust for the exclusive benefit of aboriginal individuals, or

iv.  owned or held in a combination of ownership or holding structures described in any of subparagraphs i to iii;

(e)  the amount that the taxpayer is required to include, for the purposes of the Income Tax Act, in computing the taxpayer’s income for the year under paragraph x.1 of subsection 1 of section 12 of that Act;

(f)  an amount paid pursuant to subparagraph a of the first paragraph of section 94.0.3.2 of the Tax Administration Act (chapter A-6.002);

(g)  an amount that is the portion of a student loan forgiven under section 11.1 of the Canada Student Loans Act (R.S.C. 1985, c. S-23) or section 9.2 of the Canada Student Financial Assistance Act (S.C. 1994, c. 28); and

(h)  an amount that is the portion of a student loan forgiven under a provincial program that would be an amount referred to in paragraph g if section 11.1 of the Canada Student Loans Act or section 9.2 of the Canada Student Financial Assistance Act applied to loans made under the program.

s. 87R4; O.C. 140-90, s. 2; O.C. 1232-91, s. 1; O.C. 1114-92, s. 8; O.C. 1539-93, s. 1; O.C. 91-94, s. 1; O.C. 35-96, s. 86; O.C. 523-96, s. 4; O.C. 1707-97, s. 9; O.C. 1466-98, s. 8; O.C. 1282-2003, s. 6; O.C. 1155-2004, s. 7; O.C. 1116-2007, s. 4; O.C. 134-2009, s. 1; O.C. 701-2013, s. 3; O.C. 117-2019, s. 4.

2013-07-03

87R5. For the purposes of paragraph w of section 87 of the Act, the following are prescribed amounts:

(a)  an amount described in paragraph g or i of section 488R1;

(b)  an amount of any assistance granted to a taxpayer and that is prescribed assistance under section 241.0.1R2, or would be prescribed assistance under that section if that section applied in respect of, or for the acquisition of, a share of the capital stock of a corporation registered under the Act respecting Québec business investment companies (chapter S-29.1);

(c)  an amount deducted under subsection 5 or 6 of section 127 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) that may reasonably be considered to be related to

i.  an amount that is a qualified expenditure within the meaning of subsection 9 of that section 127, and that is, for the purposes of the definition of that expression, an expenditure made after 30 April 1987 and before 10 May 1996 or a proxy amount computed by reference to an expenditure incurred as salary or wages before 10 May 1996 or

ii.  an amount that is a flow-through mining expenditure, within the meaning of subsection 9 of that section 127;

(d)  an amount paid by the National Aboriginal Economic Development Board (P.C. 1983-3394, 83-10-31) pursuant to the Native Economic Development Program, or paid under the Aboriginal Capital Corporation Program of the Canadian Aboriginal Economic Development Strategy, to a corporation whose purpose is to provide loans, loan guarantees, bridge financing, venture capital, lease financing, surety bonding or other similar financing services to aboriginal enterprises and where all of the shares of the capital stock of the corporation are

i.  owned by aboriginal individuals,

ii.  held in trust for the exclusive benefit of aboriginal individuals,

iii.  owned by a corporation, all the shares of which are owned by aboriginal individuals or held in trust for the exclusive benefit of aboriginal individuals, or

iv.  owned or held in a combination of ownership or holding structures described in any of subparagraphs i to iii;

(e)  the amount that the taxpayer is required to include, for the purposes of the Income Tax Act, in computing the taxpayer’s income for the year under paragraph x.1 of subsection 1 of section 12 of that Act;

(f)  an amount paid pursuant to subparagraph a of the first paragraph of section 94.0.3.2 of the Tax Administration Act (chapter A-6.002); and

(g)  an amount that may be forgiven in respect of a student loan under section 11.1 of the Canada Student Loans Act (R.S.C. 1985, c. S-23) or section 9.2 of the Canada Student Financial Assistance Act (S.C. 1994, c. 28).

s. 87R4; O.C. 140-90, s. 2; O.C. 1232-91, s. 1; O.C. 1114-92, s. 8; O.C. 1539-93, s. 1; O.C. 91-94, s. 1; O.C. 35-96, s. 86; O.C. 523-96, s. 4; O.C. 1707-97, s. 9; O.C. 1466-98, s. 8; O.C. 1282-2003, s. 6; O.C. 1155-2004, s. 7; O.C. 1116-2007, s. 4; O.C. 134-2009, s. 1; O.C. 701-2013, s. 3.

2012-09-01

87R5. For the purposes of paragraph w of section 87 of the Act, the following are prescribed amounts:

(a)  an amount described in paragraph g or i of section 488R1;

(b)  an amount of any assistance granted to a taxpayer and that is prescribed assistance under section 241.0.1R2, or would be prescribed assistance under that section if that section applied in respect of, or for the acquisition of, a share of the capital stock of a corporation registered under the Act respecting Québec business investment companies (chapter S-29.1);

(c)  an amount deducted under subsection 5 or 6 of section 127 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) that may reasonably be considered to be related to

i.  an amount that is a qualified expenditure within the meaning of subsection 9 of that section 127, and that is, for the purposes of the definition of that expression, an expenditure made after 30 April 1987 and before 10 May 1996 or a proxy amount computed by reference to an expenditure incurred as salary or wages before 10 May 1996 or

ii.  an amount that is a flow-through mining expenditure, within the meaning of subsection 9 of that section 127;

(d)  an amount paid by the National Aboriginal Economic Development Board (P.C. 1983-3394, 83-10-31) pursuant to the Native Economic Development Program, or paid under the Aboriginal Capital Corporation Program of the Canadian Aboriginal Economic Development Strategy, to a corporation whose purpose is to provide loans, loan guarantees, bridge financing, venture capital, lease financing, surety bonding or other similar financing services to aboriginal enterprises and where all of the shares of the capital stock of the corporation are

i.  owned by aboriginal individuals,

ii.  held in trust for the exclusive benefit of aboriginal individuals,

iii.  owned by a corporation, all the shares of which are owned by aboriginal individuals or held in trust for the exclusive benefit of aboriginal individuals, or

iv.  owned or held in a combination of ownership or holding structures described in any of subparagraphs i to iii;

(e)  the amount that the taxpayer is required to include, for the purposes of the Income Tax Act, in computing the taxpayer’s income for the year under paragraph x.1 of subsection 1 of section 12 of that Act; and

(f)  an amount paid pursuant to subparagraph a of the first paragraph of section 94.0.3.2 of the Tax Administration Act (chapter A-6.002).

s. 87R4; O.C. 140-90, s. 2; O.C. 1232-91, s. 1; O.C. 1114-92, s. 8; O.C. 1539-93, s. 1; O.C. 91-94, s. 1; O.C. 35-96, s. 86; O.C. 523-96, s. 4; O.C. 1707-97, s. 9; O.C. 1466-98, s. 8; O.C. 1282-2003, s. 6; O.C. 1155-2004, s. 7; O.C. 1116-2007, s. 4; O.C. 134-2009, s. 1.