I-3 - Taxation Act

Section 1029.8.36.0.20 Disposition versions

2012-05-09

1029.8.36.0.20. A corporation that is an exempt corporation for a taxation year is deemed, subject to the fourth paragraph, where that year is the first year during which the corporation so qualifies and the corporation encloses the documents referred to in the second paragraph with the fiscal return it is required to file for the year under section 1000, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to the aggregate of all amounts each of which is the amount by which 40% of the qualified wages paid by the corporation in a preceding taxation year to an eligible employee exceeds the amount established under section 1029.8.36.0.23 in relation to the qualified wages.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of the certificate issued by Investissement Québec to the corporation in respect of the eligible employee for a preceding taxation year and for the purposes of this division or Division II.6.0.2, as it read before being repealed.

For the purposes of the first paragraph and section 1029.8.36.0.23, and notwithstanding the first paragraph of section 1029.8.36.0.17, “eligible employee” and “qualified wages” have the meaning assigned by section 1029.8.36.0.4, as it read for the preceding taxation year in which the wages were paid, where

(a)  the corporation carries on or may carry on its business in an information technology development centre; and

(b)  the preceding taxation year began before 21 December 2001.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 where they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

2000, c. 39, s. 176; 2001, c. 51, s. 149; 2001, c. 69, s. 12; 2003, c. 9, s. 225; 2012, c. 8, s. 206.

2006-03-01

1029.8.36.0.20. A corporation that is an exempt corporation for a taxation year is deemed, subject to the fourth paragraph, where that year is the first year during which the corporation so qualifies and the corporation encloses the documents referred to in the second paragraph with the fiscal return it is required to file for the year under section 1000, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to the aggregate of all amounts each of which is the amount by which 40% of the qualified wages paid by the corporation in a preceding taxation year to an eligible employee exceeds the amount established under section 1029.8.36.0.23 in relation to the qualified wages.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of the unrevoked certificate issued by Investissement Québec to the corporation in respect of the eligible employee for a preceding taxation year and for the purposes of this division or Division II.6.0.2, as it read before being repealed.

For the purposes of the first paragraph and section 1029.8.36.0.23, and notwithstanding the first paragraph of section 1029.8.36.0.17, “eligible employee” and “qualified wages” have the meaning assigned by section 1029.8.36.0.4, as it read for the preceding taxation year in which the wages were paid, where

(a)  the corporation carries on or may carry on its business in an information technology development centre; and

(b)  the preceding taxation year began before 21 December 2001.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 where they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

2000, c. 39, s. 176; 2001, c. 51, s. 149; 2001, c. 69, s. 12; 2003, c. 9, s. 225.