I-3 - Taxation Act

Section 1029.8.66.5.3 Disposition versions

2017-02-08

1029.8.66.5.3. Where, on or before 1 December of a taxation year, an individual applies to the Minister in the prescribed form containing prescribed information and the conditions set out in the third paragraph are met, the Minister may pay in advance, according to the terms and conditions the Minister determines and in respect of the amount that the individual considers to be the amount that the individual will be deemed to have paid to the Minister on account of the individual’s tax payable for the year under the first paragraph of section 1029.8.66.2, an amount not exceeding the amount determined by the formula

A × (B – C).

In the formula in the first paragraph,

(a)  A is the appropriate percentage determined in section 1029.8.66.5.4 or 1029.8.66.5.5, as the case may be, in respect of the individual for the year;

(b)  B is the lesser of $20,000 and the individual’s eligible expenses which the individual paid in the year; and

(c)  C is the individual’s pre-existing expenses which the individual paid in the year.

The conditions to which the first paragraph refers are as follows:

(a)  the individual is resident in Québec at the time of the application;

(b)  the individual paid eligible expenses (other than pre-existing expenses) in the year and the prescribed form used for the application is accompanied by a receipt confirming their payment;

(c)  the individual’s estimated family income for the year does not exceed $97,458 if the individual has a spouse at the time of the application, or $48,729 if the individual does not;

(d)  the amount that the individual considers to be the amount that the individual will be deemed to have paid to the Minister on account of the individual’s tax payable for the year under the first paragraph of section 1029.8.66.2 is greater than $2,000; and

(e)  the individual has consented to have the advance payments be made by direct deposit in a bank account held at a financial institution listed in Part I of Appendix I to Rule D4–Institution Numbers and Clearing Agency/ Representative Arrangements of the Automated Clearing Settlement System Rules Manual, as amended from time to time, of the Canadian Payments Association.

Where, at the time of the application, an individual has a spouse, only one of them may make this application for the year.

2017, c. 1, s. 310.