C-3.1 - Act respecting certain caisses d’entraide économique

Section 131 Disposition versions

1982-04-08

131. An individual, other than a trust, who is resident in Québec on the last day of the taxation year 1982 may deduct, for that taxation year, in the computation of his taxable income for the purposes of Part I of the Taxation Act (chapter I-3), the aggregate of

(1)  the cost, to him, of the shares of the share capital of a société d’entraide économique that he has received upon the continuance of a union under Chapter II as a société d’entraide économique governed by Title II of the Act respecting the sociétés d’entraide économique (chapter S-25.1); and

(2)  the par value of a share of a société d’entraide économique continued under Chapter II that he acquires during the taxation year 1982 and that is derived from a registered retirement savings plan of which he is the beneficiary or the subscriber, a registered home ownership savings plan, or a retirement plan of which he is the beneficiary, if that share has been received by such a plan upon the continuance.

However, the amount of such deduction must not exceed, with the deduction provided for in section 965.7 of the Taxation Act and in section 210 of the Act respecting the sociétés d’entraide économique, the excess amount contemplated in the second paragraph of the said section 965.7.

1982, c. 15, s. 131.