I-3 - Taxation Act

Section 1135.6.1 Disposition versions

2009-05-15

1135.6.1. If a corporation pays at a particular time in a taxation year, pursuant to a legal obligation, a particular amount, in relation to costs incurred to acquire a property described in section 1135.3.1, that may reasonably be considered to be a repayment of an amount of assistance referred to in subparagraph i or ii of subparagraph b of the first paragraph of section 1135.1 that, for the purpose of determining the amount that the corporation could deduct, in respect of those costs, in computing its tax otherwise payable for a preceding taxation year under this Part, reduced the amount determined, in respect of the corporation, under that subparagraph i or ii, the following rules apply:

(a)  the particular amount is deemed, for the purposes of sections 1135.1 to 1135.12, to have been paid at the particular time by the corporation as costs to acquire, in the year, a property of which the corporation is the owner at the end of the year and that meets the conditions set out in section 1135.3.1; and

(b)  the costs referred to in subparagraph a are deemed to be related to a business that the corporation carries on in the year in Québec and included, at the end of that year, in the capital cost of the property.

2006, c. 36, s. 257; 2007, c. 12, s. 282; 2009, c. 5, s. 547.

2007-11-07

1135.6.1. If a corporation pays, at a particular time in a taxation year and before 1 January 2011, pursuant to a legal obligation, a particular amount, in relation to costs incurred to acquire a property described in section 1135.3.1, that may reasonably be considered to be a repayment of an amount of assistance referred to in subparagraph i or ii of subparagraph b of the first paragraph of section 1135.1 that, for the purpose of determining the amount that the corporation could deduct, in respect of those costs, in computing its tax otherwise payable for a preceding taxation year under this Part, reduced the amount determined, in respect of the corporation, under that subparagraph i or ii, the following rules apply:

(a)  the particular amount is deemed, for the purposes of sections 1135.1 to 1135.12, to have been paid at the particular time by the corporation as costs to acquire, in the year, a property of which the corporation is the owner at the end of the year and that meets the conditions set out in section 1135.3.1; and

(b)  the costs referred to in subparagraph a are deemed to be related to a business that the corporation carries on in the year in Québec and included, at the end of that year, in the capital cost of the property.

2006, c. 36, s. 257; 2007, c. 12, s. 282.

2006-12-06

1135.6.1. If a corporation pays, at a particular time of a taxation year and before 1 January 2011, pursuant to a legal obligation, a particular amount, in relation to costs incurred to acquire a property described in section 1135.3.1, that may reasonably be considered to be a repayment of an amount of assistance referred to in subparagraph i or ii of subparagraph b of the first paragraph of section 1135.1 or in the second paragraph of section 1135.2 or of a benefit or advantage referred to in section 1135.4 that reduced the amount determined, in respect of the corporation, under that subparagraph i or ii of subparagraph b of the first paragraph of section 1135.1, the first paragraph of section 1135.2 or paragraph a of section 1135.4, as the case may be, for the purpose of determining the amount that the corporation could deduct, in respect of those costs, in computing its tax otherwise payable for a preceding taxation year under this Part, or in respect of which the corporation has paid tax under Part VI.1.1 in relation to a preceding taxation year, the following rules apply:

(a)  the particular amount is deemed, for the purposes of sections 1135.1 to 1135.12, to have been paid at the particular time by the corporation as costs to acquire, in the year, a property of which the corporation is the owner at the end of the year and that meets the conditions set out in section 1135.3.1; and

(b)  the costs referred to in subparagraph a are deemed to be related to a business that the corporation carries on in the year in Québec and included, at the end of that year, in the capital cost of the property.

For the purposes of the first paragraph, an amount of assistance, a benefit or an advantage is deemed to be repaid, at a particular time, by a corporation, pursuant to a legal obligation, where that amount

(a)  reduced the amount determined in accordance with subparagraph i or ii of subparagraph b of the first paragraph of section 1135.1, the first paragraph of section 1135.2 or paragraph a of section 1135.4, as the case may be, for the purpose of determining the amount that the corporation could deduct, in respect of the costs, in computing its tax otherwise payable for a taxation year under this Part, or is an amount in respect of which the corporation has paid tax under Part VI.1.1;

(b)  was not received by the corporation; and

(c)  ceased at the particular time to be an amount that the corporation may reasonably expect to receive.

2006, c. 36, s. 257.