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 737.18.24
Disposition versions
737.18.24. (Repealed).
2002, c. 40, s. 60; 2022, c. 232022, c. 23, s. 53.
737.18.24. The paid-up capital attributed to a corporation for a particular taxation year of the corporation is equal to
(a) where the corporation is not a member of an associated group in the particular year, its paid-up capital, determined in accordance with section 737.18.25, for the taxation year preceding the particular year; and
(b) where the corporation is a member of an associated group in the particular year, the aggregate of all amounts each of which is its paid-up capital, determined in accordance with section 737.18.25, for the taxation year preceding the particular year and the paid-up capital of each other member of the group, determined in accordance with that section 737.18.25, for its last taxation year that ended before the beginning of the particular year.
For the purposes of subparagraph a of the first paragraph, where the particular year is the first fiscal period of the corporation, its paid-up capital is determined, in accordance with section 737.18.25, on the basis of its financial statements prepared at the beginning of that fiscal period in accordance with generally accepted accounting principles or, where such financial statements have not been prepared, or have not been prepared in accordance with generally accepted accounting principles, on the basis of such financial statements that would be prepared in accordance with generally accepted accounting principles.
For the purposes of subparagraph b of the first paragraph, where a member of the associated group, other than the corporation, has no taxation year ending before the beginning of the particular year, its paid-up capital is determined, in accordance with section 737.18.25, on the basis of its financial statements prepared at the beginning of its first fiscal period in accordance with generally accepted accounting principles or, where such financial statements have not been prepared, or have not been prepared in accordance with generally accepted accounting principles, on the basis of such financial statements that would be prepared in accordance with generally accepted accounting principles.
