I-3 - Taxation Act

Section 979.13 Disposition versions

2007-11-07

979.13. (Repealed).

1985, c. 25, s. 143; 2005, c. 23, s. 135; 2007, c. 12, s. 98.

2006-03-01

979.13. If a market-maker is resident in Canada outside Québec on the last day of the taxation year during which the market-maker ceases or is deemed to cease acting as such or ceases to be resident in Québec as provided for in section 979.12, the market-maker who is or was an employee is deemed, in respect of the aggregate of the amounts that the market-maker withdrew from the market-maker’s reserve account for contingent losses in the year, to the extent that those amounts should otherwise be included in computing the market-maker’s employment income for the year, in accordance with sections 979.9 to 979.11, to have carried on a business having an establishment in Québec at any time in the year and whose income attributable to that establishment for a fiscal period having ended in the year is equal to the aggregate of those amounts and, in such case, the market-maker shall not include those amounts in computing the market-maker’s employment income for the year under those sections.

For the purposes of this section, if an individual ceases to be resident in Canada during a taxation year, the last day of the individual’s taxation year is the last day on which the individual was resident in Canada.

1985, c. 25, s. 143; 2005, c. 23, s. 135.