I-3 - Taxation Act

Section 1159.3.1 Disposition versions

2015-10-21

1159.3.1. If the taxation year for which a compensation tax is computed under the first paragraph of section 1159.3 ends before 1 January 2013 and is included, in whole or in part, in the period beginning on 31 March 2010 and ending on 31 December 2012 (in this section referred to as the “rate increase period”), the following rules apply:

(a)  subparagraph ii of subparagraph a of the first paragraph of section 1159.3 is to be read as follows:

“ii. the aggregate of 3.9% of the amount paid as wages in the part of the year that is included in the rate increase period and 2% of the amount paid as wages in the part of the year that is not included in that period;” ;

(b)  the rate mentioned in subparagraphs i and ii of subparagraph b, in subparagraph ii of subparagraph d and in subparagraph d.1 of the first paragraph of section 1159.3 is replaced by a rate equal to the total of

i.  the proportion of 0.55% that the number of days in the taxation year that are included in the rate increase period is of the number of days in the taxation year, and

ii.  the proportion of 0.35% that the number of days in the taxation year that are not included in the rate increase period is of the number of days in the taxation year;

(c)  subparagraph c of the first paragraph of section 1159.3 is to be read as follows:

“(c) in the case of a savings and credit union, subject to subparagraph d, the aggregate of 3.8% of the amount paid as wages in the part of the year that is included in the rate increase period and 2.5% of the amount paid as wages in the part of the year that is not included in that period;” ; and

(d)  subparagraph e of the first paragraph of section 1159.3 is to be read as follows:

“(e) in the case of any other person, the aggregate of 1.5% of the amount paid as wages in the part of the year that is included in the rate increase period and 1% of the amount paid as wages in the part of the year that is not included in that period.”

If the taxation year for which a compensation tax is computed under the second paragraph of section 1159.3 ends before 1 January 2013 and is included, in whole or in part, in the rate increase period, the following rules apply:

(a)  subparagraph ii of subparagraph a of the second paragraph of section 1159.3 is to be read as follows:

“ii. the aggregate of 3.9% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are included in the rate increase period and 2% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are not included in that period;” ;

(b)  the rate mentioned in subparagraphs i and ii of subparagraph b and in subparagraph ii of subparagraph d of the second paragraph of section 1159.3 is replaced by a rate equal to the total of

i.  the proportion of 0.55% that the number of days in the taxation year, included in the rate increase period, during which the person was a financial institution is of the number of days in the taxation year during which the person was a financial institution, and

ii.  the proportion of 0.35% that the number of days in the taxation year, not included in the rate increase period, during which the person was a financial institution is of the number of days in the taxation year during which the person was a financial institution;

(c)  subparagraph c of the second paragraph of section 1159.3 is to be read as follows:

“(c) in the case of a savings and credit union, subject to subparagraph d, the aggregate of 3.8% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are included in the rate increase period and 2% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are not included in that period;” ; and

(d)  subparagraph e of the second paragraph of section 1159.3 is to be read as follows:

“(e) in the case of any other person, except a professional order that has set up an insurance fund, in accordance with section 86.1 of the Professional Code (chapter C-26), the aggregate of 1.5% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are included in the rate increase period and 1% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are not included in that period.”.

2011, c. 1, s. 111; 2015, c. 21, s. 532.

2011-02-17

1159.3.1. If the taxation year for which a compensation tax is computed under the first paragraph of section 1159.3 is included, in whole or in part, in the period beginning on 31 March 2010 and ending on 31 March 2014 (in this section referred to as the “rate increase period”), the following rules apply:

(a)  subparagraph ii of subparagraph a of the first paragraph of section 1159.3 is to be read as follows:

“ii. the aggregate of 3.9% of the amount paid as wages in the part of the year that is included in the rate increase period and 2% of the amount paid as wages in the part of the year that is not included in that period;” ;

(b)  the rate mentioned in subparagraphs i and ii of subparagraph b, in subparagraph ii of subparagraph d and in subparagraph d.1 of the first paragraph of section 1159.3 is replaced by a rate equal to the total of

i.  the proportion of 0.55% that the number of days in the taxation year that are included in the rate increase period is of the number of days in the taxation year, and

ii.  the proportion of 0.35% that the number of days in the taxation year that are not included in the rate increase period is of the number of days in the taxation year;

(c)  subparagraph c of the first paragraph of section 1159.3 is to be read as follows:

“(c) in the case of a savings and credit union, subject to subparagraph d, the aggregate of 3.8% of the amount paid as wages in the part of the year that is included in the rate increase period and 2.5% of the amount paid as wages in the part of the year that is not included in that period;” ; and

(d)  subparagraph e of the first paragraph of section 1159.3 is to be read as follows:

“(e) in the case of any other person, the aggregate of 1.5% of the amount paid as wages in the part of the year that is included in the rate increase period and 1% of the amount paid as wages in the part of the year that is not included in that period.”

If the taxation year for which a compensation tax is computed under the second paragraph of section 1159.3 is included, in whole or in part, in the rate increase period, the following rules apply:

(a)  subparagraph ii of subparagraph a of the second paragraph of section 1159.3 is to be read as follows:

“ii. the aggregate of 3.9% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are included in the rate increase period and 2% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are not included in that period;” ;

(b)  the rate mentioned in subparagraphs i and ii of subparagraph b and in subparagraph ii of subparagraph d of the second paragraph of section 1159.3 is replaced by a rate equal to the total of

i.  the proportion of 0.55% that the number of days in the taxation year, included in the rate increase period, during which the person was a financial institution is of the number of days in the taxation year during which the person was a financial institution, and

ii.  the proportion of 0.35% that the number of days in the taxation year, not included in the rate increase period, during which the person was a financial institution is of the number of days in the taxation year during which the person was a financial institution;

(c)  subparagraph c of the second paragraph of section 1159.3 is to be read as follows:

“(c) in the case of a savings and credit union, subject to subparagraph d, the aggregate of 3.8% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are included in the rate increase period and 2% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are not included in that period;” ; and

(d)  subparagraph e of the second paragraph of section 1159.3 is to be read as follows:

“(e) in the case of any other person, except a professional order that has set up an insurance fund, in accordance with section 86.1 of the Professional Code (chapter C-26), the aggregate of 1.5% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are included in the rate increase period and 1% of the amount paid as wages in the part or parts of the year, as the case may be, during which the person was a financial institution that are not included in that period.”.

2011, c. 1, s. 111.