I-3 - Taxation Act

Section 156.13 Disposition versions

2015-10-21

156.13. Despite the definition of “additional deduction rate” in section 156.11, the additional deduction rate applicable to a manufacturing corporation for a taxation year is, for the year, equal to the rate determined by the formula

A × [(B - 25%)/25%].

In the formula in the first paragraph,

(a)  A is the additional deduction rate applicable to the manufacturing corporation for the year, determined without reference to this section; and

(b)  B is the lesser of 50% and the proportion of the manufacturing or processing activities of the manufacturing corporation for the year.

For the taxation year of a manufacturing corporation that ends after 4 June 2014 and that includes that date, the additional deduction rate applicable to the corporation for the year is equal to the rate of the deduction, determined for the year with reference to the first and second paragraphs, multiplied by the proportion that the number of days in the year that follow 4 June 2014 is of the number of days in the year.

2015, c. 21, s. 125.