Consolidated Statutes and Regulations
Consolidated Statutes
Consolidated Regulations
Annual Statutes and Regulations
Annual Statutes
Annual Regulations
Additional information
Québec Official Publisher
What’s new?
Information note
Policy of the Minister of Justice
Laws: Amendments
Laws: Provisions not in force
Laws: Provisions brought into force
Annual Statutes: PDF versions since 1996
Regulations: Amendments
Annual Regulations: PDF versions since 1996
Court Decisions
I-3 - Taxation Act
Section 21.33.1
Disposition versions
21.33.1. There may be deducted in computing a corporation’s income from a business or property for a taxation year an amount equal to the lesser of
(a) the aggregate of all amounts each of which is an amount that the corporation becomes obligated in the year to pay to another person under an arrangement described in paragraphs a and b of the definition of “dividend rental arrangement” in section 1 and that, if paid, would be deemed under section 21.32 to have been received by the other person as a taxable dividend; and
(b) the amount of the dividends received by the corporation under the arrangement referred to in paragraph a that were identified in its fiscal return under this Part for the year as dividends in respect of which no amount was deductible because of section 740.4.1 in computing its taxable income.
21.33.1. Notwithstanding section 21.33, there may be deducted in computing a corporation’s income from a business or property for a taxation year an amount equal to the lesser of
(a) the aggregate of all amounts each of which is an amount that the corporation becomes obligated in the year to pay to another person under an arrangement described in paragraphs a and b of the definition of “dividend rental arrangement” in section 1 and that, if paid, would be deemed under section 21.32 to have been received by the other person as a taxable dividend; and
(b) the amount of the dividends received by the corporation under the arrangement referred to in paragraph a that were identified in its fiscal return under this Part for the year as dividends in respect of which no amount was deductible because of section 740.4.1 in computing its taxable income.
21.33.1. Notwithstanding section 21.33, there may be deducted in computing a corporation’s income from a business or property for a taxation year an amount equal to the lesser of
(a) the amount that the corporation is obligated to pay to another person under an arrangement described in paragraphs a and b of the definition of “dividend rental arrangement” in section 1 that, if paid, would be deemed by section 21.32 to have been received by another person as a taxable dividend, and
(b) the amount of the dividends received by the corporation under the arrangement referred to in paragraph a that were identified in its fiscal return under this Part for the year as dividends in respect of which no amount was deductible because of section 740.4.1 in computing its taxable income.
