I-3 - Taxation Act

Section 1029.8.36.53.1 Disposition versions

2010-10-27

1029.8.36.53.1. (Repealed).

2002, c. 40, s. 165; 2010, c. 25, s. 137.

2006-03-01

1029.8.36.53.1. In this division,

“eligibility date” relating to an eligible horse in respect of an eligible taxpayer means the latest of

(a)  the date on which the eligible horse is foaled;

(b)  the date on which the eligible taxpayer acquires the eligible horse; and

(c)  30 June 2000;

“eligibility period” applicable to an eligible horse in relation to an eligible taxpayer for a taxation year means the period that begins on the eligibility date relating to the eligible horse in respect of the eligible taxpayer and that ends on the earliest of

(a)  the day on which the eligible horse ceases to be covered by the definition of “eligible horse” ;

(b)  the date on which the eligible taxpayer disposes of the eligible horse; and

(c)  31 December 2003;

“eligible horse” means a Standardbred colt or filly under the age of three, sired by a stallion registered in the stallion registry of the Régie des alcools, des courses et des jeux or out of a brood mare entered in the annual inventory of the Société nationale du cheval de course, which has not participated in a betting race with a purse as part of a race program recognized by the Société nationale du cheval de course or any other association in Canada or the United States, and foaled after 30 June 1997 but before 1 January 2004;

“eligible taxpayer” for a taxation year means a taxpayer, other than a tax-exempt taxpayer, who is an individual resident in Québec on 31 December of the year, or that is a corporation that has an establishment in Québec in the year, and that is the owner of an eligible horse during all or part of the year;

“qualified expenditure” made by an eligible taxpayer in a taxation year means the following expenditures, to the extent that they are reasonable and are paid, that an eligible taxpayer incurs in Québec at any time in the year, after 29 June 2000 and before 1 January 2004, for services rendered in Québec, in respect of an eligible horse owned by the eligible taxpayer at that time, other than the costs of transporting the eligible horse and expenditure incurred with a taxpayer with whom the eligible taxpayer or a specified shareholder of the eligible taxpayer is not dealing at arm’s length:

(a)  ongoing maintenance and training expenditures, including expenditures incurred under a contract for services;

(b)  the fees for membership in an equestrian association;

(c)  nomination, sustaining and starting fees required for participation in a race; and

(d)  veterinary charges, including charges in connection with the foaling of the eligible horse;

“tax-exempt taxpayer” means

(a)  a person who is exempt from tax under Book VIII, other than an insurer referred to in paragraph k of section 998 not so exempt from tax on the totality of its taxable income by reason of section 999.0.1;

(b)  a corporation that would be exempt from tax under section 985 but for section 192; or

(c)  a trust one of the capital or income beneficiaries of which is a person described in paragraph a or b.

2002, c. 40, s. 165.