I-3 - Taxation Act

Section 1000.3 Disposition versions

2011-02-17

1000.3. If a partnership has deducted, in respect of a property described in the second paragraph, an amount in computing its income under paragraph a of section 130 or the second paragraph of section 130.1 for a particular fiscal period ending before all the conditions applicable to the property and set out in the third paragraph have been met, and, in a subsequent fiscal period, an event occurs that results in any of those conditions not being able to be met, each taxpayer who was a member of the partnership at the end of the particular fiscal period shall, on or before the taxpayer’s filing-due date for the taxpayer’s taxation year in which that subsequent fiscal period ends or would have ended had the taxpayer been a member of the partnership at the end of that subsequent fiscal period, file with the Minister for any taxation year that precedes that taxation year and for which the taxpayer’s fiscal return was filed by the taxpayer under section 1000, and for which tax consequences under this Part arise from the fact that, in the case of a property described in subparagraph a of the second paragraph, the property cannot be included in the class provided for in that subparagraph or, in the case of a property described in subparagraph b of the second paragraph, the property does not meet all the conditions prescribed under subparagraph b of the third paragraph, an amended fiscal return in which those tax consequences must be taken into account.

The property to which the first paragraph refers is

(a)  a property in Class 12 of Schedule B to the Regulation respecting the Taxation Act (chapter I-3, r. 1) because of subparagraph t of the first paragraph of that class or of the second or fourth paragraph of that class; or

(b)  a prescribed property.

The conditions to which the first paragraph refers are

(a)  in the case of a property described in subparagraph a of the second paragraph, the conditions of subparagraph t of the first paragraph of Class 12 of Schedule B to the Regulation respecting the Taxation Act or of the second or fourth paragraph of that class; or

(b)  in the case of a property described in subparagraph b of the second paragraph, the prescribed conditions.

1999, c. 83, s. 163; 2004, c. 21, s. 245; 2011, c. 1, s. 49.

2006-03-01

1000.3. Where a partnership has deducted, in respect of a property in Class 12 of Schedule B to the Regulation respecting the Taxation Act (R.R.Q., c. I-3, r. 1), because of subparagraph t of the first paragraph of that class or of the second or fourth paragraph of that class, an amount in computing its income under paragraph a of section 130 or the second paragraph of section 130.1 for a particular fiscal period ending before all the conditions applicable to the property and mentioned in that subparagraph t or that second or fourth paragraph of that class, as the case may be, have been met, and, in a subsequent fiscal period, an event occurs that results in any of those conditions not being able to be met, each taxpayer who was a member of the partnership at the end of the particular fiscal period shall, on or before the taxpayer’s filing-due date for the taxpayer’s taxation year in which that subsequent fiscal period ends or would have ended had the taxpayer been a member of the partnership at the end of that subsequent fiscal period, file with the Minister for any taxation year that precedes that taxation year and for which the taxpayer’s fiscal return was filed by the taxpayer under section 1000, and for which tax consequences under this Part arise from the fact that the property cannot be included in that class, an amended fiscal return in which those tax consequences must be taken into account.

1999, c. 83, s. 163; 2004, c. 21, s. 245.