I-3 - Taxation Act

Section 1029.8.36.0.3.80 Disposition versions

2021-12-10

1029.8.36.0.3.80. A qualified corporation that holds, for a taxation year, a valid qualification certificate issued by Investissement Québec for the purposes of this division and that encloses with the fiscal return it is required to file for the year under section 1000 a copy of the certificate as well as the documents described in the third paragraph is deemed, subject to the second paragraph, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to 24% of the aggregate of all amounts each of which is the qualified wages incurred by the corporation in the year in respect of an eligible employee for all or part of that year.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the valid qualification certificate issued to the corporation for the year by Investissement Québec in respect of an eligible employee for the purposes of this division.

2009, c. 15, s. 241; 2012, c. 8, s. 203; 2015, c. 21, s. 435; 2015, c. 36, s. 118; 2021, c. 18, s. 120; 2021, c. 36, s. 114.

2021-06-04

1029.8.36.0.3.80. A qualified corporation that holds, for a taxation year, a valid qualification certificate issued by Investissement Québec for the purposes of this division and that encloses with the fiscal return it is required to file for the year under section 1000 a copy of the certificate as well as the documents described in the third paragraph is deemed, subject to the second paragraph, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to 24% of the aggregate of all amounts each of which is the qualified wages incurred by the corporation in the year in respect of an eligible employee for all or part of that year.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the valid qualification certificate issued to the corporation for the year by Investissement Québec in respect of an eligible employee for the purposes of this division.

Despite the first paragraph, a corporation that is described in the sixth paragraph in relation to a taxation year, that made no election under this paragraph or under the fifth paragraph for a preceding taxation year and that is not required to make the election described in the fifth paragraph for the year, may be deemed to have paid to the Minister an amount determined under this section for the year only if the corporation so elects irrevocably for the year in the manner and within the time specified in the seventh paragraph.

Despite the first paragraph, if corporations are associated with each other in a taxation year, all those corporations together being referred to in this section as the “group of associated corporations” for the year, if a particular corporation that is a member of the group of associated corporations for the year holds a valid qualification certificate issued for the year by Investissement Québec for the purposes of this division, if at least one other corporation that is a member of the group for the year did not make the election under the fourth paragraph or under this paragraph for a preceding taxation year and if at least one corporation that is a member of the group of associated corporations for the year, other than the particular corporation, is a corporation described in the sixth paragraph in relation to that year, the particular corporation may be deemed to have paid to the Minister an amount determined under this section for the year only if all the corporations that are members of the group for the year jointly and irrevocably elect, in the manner and within the time specified in the eighth paragraph, that this section apply to the particular corporation for the year.

A corporation to which the fourth and fifth paragraphs refer, in relation to a particular taxation year, is

(a)  a corporation that is deemed to have paid an amount to the Minister on account of its tax payable for a taxation year preceding the particular year under Division II.6.0.1.6, as it read before being repealed, or Division II.6.0.1.8 or II.6.0.3 or that is deemed, under section 34.1.9 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5), to have made an overpayment to the Minister for that preceding year for the purposes of Division I of Chapter IV of that Act; or

(b)  a corporation that carries on an eligible business in a biotechnology development centre in the particular year or that entered into a contract that qualifies as an eligible contract of the corporation for the year for the purposes of Division II.6.0.1.8.

A corporation makes the election referred to in the fourth paragraph, in respect of a particular taxation year, by filing with the Minister the prescribed form containing prescribed information within the time limit provided for in the first paragraph of section 1029.6.0.1.2 that applies to the corporation for the particular year.

The corporations that are members of a group of associated corporations for a particular taxation year make the election referred to in the fifth paragraph for the particular year by filing with the Minister the prescribed form containing prescribed information on or before the day that is 12 months after the earliest of the group’s members’ filing-due dates for the particular year or, if it is later, the day described in subparagraph b of the first paragraph of section 1029.6.0.1.2.

A corporation is deemed to have filed with the Minister the prescribed form containing prescribed information, referred to in the seventh or eighth paragraph, as the case may be, within the time limit provided for in that paragraph, in respect of a taxation year where, in accordance with the second paragraph of section 1029.6.0.1.2, it is deemed to have filed with the Minister a copy of the qualification certificate referred to in the first paragraph and the documents referred to in the third paragraph within the time limit provided for in the first paragraph of section 1029.6.0.1.2 that applies to the corporation for the taxation year so as to be deemed to have paid an amount to the Minister for the year under this section.

2009, c. 15, s. 241; 2012, c. 8, s. 203; 2015, c. 21, s. 435; 2015, c. 36, s. 118; 2021, c. 18, s. 120.

2015-12-04

1029.8.36.0.3.80. A qualified corporation that holds, for a taxation year, a valid qualification certificate issued by Investissement Québec for the purposes of this division and that encloses with the fiscal return it is required to file for the year under section 1000 a copy of the certificate as well as the documents described in the third paragraph is deemed, subject to the second paragraph, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to 24% of the aggregate of all amounts each of which is the qualified wages incurred by the corporation in the year in respect of an eligible employee for all or part of that year.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the valid qualification certificate issued to the corporation for the year by Investissement Québec in respect of an eligible employee for the purposes of this division.

Despite the first paragraph, a corporation that is described in the sixth paragraph in relation to a taxation year, that made no election under this paragraph or under the fifth paragraph for a preceding taxation year and that is not required to make the election described in the fifth paragraph for the year, may be deemed to have paid to the Minister an amount determined under this section for the year only if the corporation so elects irrevocably for the year in the manner and within the time specified in the seventh paragraph.

Despite the first paragraph, if corporations are associated with each other in a taxation year, all those corporations together being referred to in this section as the “group of associated corporations” for the year, if a particular corporation that is a member of the group of associated corporations for the year holds a valid qualification certificate issued for the year by Investissement Québec for the purposes of this division, if at least one other corporation that is a member of the group for the year did not make the election under the fourth paragraph or under this paragraph for a preceding taxation year and if at least one corporation that is a member of the group of associated corporations for the year, other than the particular corporation, is a corporation described in the sixth paragraph in relation to that year, the particular corporation may be deemed to have paid to the Minister an amount determined under this section for the year only if all the corporations that are members of the group for the year jointly and irrevocably elect, in the manner and within the time specified in the eighth paragraph, that this section apply to the particular corporation for the year.

A corporation to which the fourth and fifth paragraphs refer, in relation to a particular taxation year, is

(a)  a corporation that is deemed to have paid an amount to the Minister on account of its tax payable for a taxation year preceding the particular year under any of Divisions II.6.0.1.6, II.6.0.1.8 and II.6.0.3 or that is deemed, under section 34.1.9 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5), to have made an overpayment to the Minister for that preceding year for the purposes of Division I of Chapter IV of that Act; or

(b)  a corporation that carries on an eligible business in a biotechnology development centre in the particular year or that entered into a contract that qualifies as an eligible contract of the corporation for the year for the purposes of Division II.6.0.1.8.

A corporation makes the election referred to in the fourth paragraph, in respect of a particular taxation year, by filing with the Minister the prescribed form containing prescribed information within the time limit provided for in the first paragraph of section 1029.6.0.1.2 that applies to the corporation for the particular year.

The corporations that are members of a group of associated corporations for a particular taxation year make the election referred to in the fifth paragraph for the particular year by filing with the Minister the prescribed form containing prescribed information on or before the day that is 12 months after the earliest of the group’s members’ filing-due dates for the particular year or, if it is later, the day described in subparagraph b of the first paragraph of section 1029.6.0.1.2.

A corporation is deemed to have filed with the Minister the prescribed form containing prescribed information, referred to in the seventh or eighth paragraph, as the case may be, within the time limit provided for in that paragraph, in respect of a taxation year where, in accordance with the second paragraph of section 1029.6.0.1.2, it is deemed to have filed with the Minister a copy of the qualification certificate referred to in the first paragraph and the documents referred to in the third paragraph within the time limit provided for in the first paragraph of section 1029.6.0.1.2 that applies to the corporation for the taxation year so as to be deemed to have paid an amount to the Minister for the year under this section.

2009, c. 15, s. 241; 2012, c. 8, s. 203; 2015, c. 21, s. 435; 2015, c. 36, s. 118.

2015-10-21

1029.8.36.0.3.80. A qualified corporation that holds, for a taxation year, a valid qualification certificate issued by Investissement Québec for the purposes of this division and that encloses with the fiscal return it is required to file for the year under section 1000 a copy of the certificate as well as the documents described in the third paragraph is deemed, subject to the second paragraph, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to 24% of the aggregate of all amounts each of which is the qualified wages incurred by the corporation in the year in respect of an eligible employee for all or part of that year.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the valid qualification certificate issued to the corporation for the year by Investissement Québec in respect of an eligible employee for the purposes of this division.

Despite the first paragraph, a corporation that is described in the sixth paragraph in relation to a taxation year, that made no election under this paragraph or under the fifth paragraph for a preceding taxation year and that is not required to make the election described in the fifth paragraph for the year, may be deemed to have paid to the Minister an amount determined under this section for the year only if the corporation so elects irrevocably for the year in the manner and within the time specified in the seventh paragraph.

Despite the first paragraph, if corporations are associated with each other in a taxation year, all those corporations together being referred to in this section as the “group of associated corporations” for the year, if a particular corporation that is a member of the group of associated corporations for the year holds a valid qualification certificate issued for the year by Investissement Québec for the purposes of this division, if at least one other corporation that is a member of the group for the year did not make the election under the fourth paragraph or under this paragraph for a preceding taxation year and if at least one corporation that is a member of the group of associated corporations for the year, other than the particular corporation, is a corporation described in the sixth paragraph in relation to that year, the particular corporation may be deemed to have paid to the Minister an amount determined under this section for the year only if all the corporations that are members of the group for the year jointly and irrevocably elect, in the manner and within the time specified in the eighth paragraph, that this section apply to the particular corporation for the year.

A corporation to which the fourth and fifth paragraphs refer, in relation to a particular taxation year, is

(a)  a corporation that is deemed to have paid an amount to the Minister on account of its tax payable for a taxation year preceding the particular year under any of Divisions II.6.0.1.6, II.6.0.1.8 and II.6.0.3 or that is deemed, under section 34.1.9 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5), to have made an overpayment to the Minister for that preceding year for the purposes of Division I of Chapter IV of that Act; or

(b)  a corporation that carries on an eligible business in a biotechnology development centre in the particular year or that entered into a contract that qualifies as an eligible contract of the corporation for the year for the purposes of Division II.6.0.1.8.

A corporation makes the election referred to in the fourth paragraph, in respect of a particular taxation year, by filing with the Minister the prescribed form containing prescribed information on or before the day that is 12 months after the corporation’s filing-due date for the particular year.

The corporations that are members of a group of associated corporations for a particular taxation year make the election referred to in the fifth paragraph for the particular year by filing with the Minister the prescribed form containing prescribed information on or before the day that is 12 months after the earliest of the filing-due dates of the members of the group for the particular year.

The 12-month time limit provided for in the seventh and eighth paragraphs, in relation to a taxation year, is extended by operation of law if

(a)  after the 15th day preceding the expiry of that time limit, the corporation referred to in the first paragraph obtained a qualification certificate that the corporation is required to file with the Minister, in respect of the taxation year, in accordance with the first paragraph; and

(b)  the application for the qualification certificate was filed with Investissement Québec before the expiry of the ninth month following the corporation’s filing-due date for the taxation year.

A corporation is deemed to have filed with the Minister the prescribed form containing prescribed information, referred to in the seventh or eighth paragraph, as the case may be, within the time limit provided for in that paragraph, in respect of a taxation year where, in accordance with the third paragraph of section 1029.6.0.1.2, it is deemed to have filed with the Minister a copy of the qualification certificate referred to in the first paragraph and the documents referred to in the third paragraph on or before the day that is 12 months after the corporation’s filing-due date for the taxation year so as to be deemed to have paid an amount to the Minister for the year under this section.

2009, c. 15, s. 241; 2012, c. 8, s. 203; 2015, c. 21, s. 435.

2012-05-09

1029.8.36.0.3.80. A qualified corporation that holds, for a taxation year, a valid qualification certificate issued by Investissement Québec for the purposes of this division and that encloses with the fiscal return it is required to file for the year under section 1000 a copy of the certificate as well as the documents described in the third paragraph is deemed, subject to the second paragraph, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to 30% of the aggregate of all amounts each of which is the qualified wages incurred by the corporation in the year in respect of an eligible employee for all or part of that year.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the valid qualification certificate issued to the corporation for the year by Investissement Québec in respect of an eligible employee for the purposes of this division.

Despite the first paragraph, a corporation that is described in the sixth paragraph in relation to a taxation year, that made no election under this paragraph or under the fifth paragraph for a preceding taxation year and that is not required to make the election described in the fifth paragraph for the year, may be deemed to have paid to the Minister an amount determined under this section for the year only if the corporation so elects irrevocably for the year in the manner and within the time specified in the seventh paragraph.

Despite the first paragraph, if corporations are associated with each other in a taxation year, all those corporations together being referred to in this section as the “group of associated corporations” for the year, if a particular corporation that is a member of the group of associated corporations for the year holds a valid qualification certificate issued for the year by Investissement Québec for the purposes of this division, if at least one other corporation that is a member of the group for the year did not make the election under the fourth paragraph or under this paragraph for a preceding taxation year and if at least one corporation that is a member of the group of associated corporations for the year, other than the particular corporation, is a corporation described in the sixth paragraph in relation to that year, the particular corporation may be deemed to have paid to the Minister an amount determined under this section for the year only if all the corporations that are members of the group for the year jointly and irrevocably elect, in the manner and within the time specified in the eighth paragraph, that this section apply to the particular corporation for the year.

A corporation to which the fourth and fifth paragraphs refer, in relation to a particular taxation year, is

(a)  a corporation that is deemed to have paid an amount to the Minister on account of its tax payable for a taxation year preceding the particular year under any of Divisions II.6.0.1.6, II.6.0.1.8 and II.6.0.3 or that is deemed, under section 34.1.9 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5), to have made an overpayment to the Minister for that preceding year for the purposes of Division I of Chapter IV of that Act; or

(b)  a corporation that carries on an eligible business in a biotechnology development centre in the particular year or that entered into a contract that qualifies as an eligible contract of the corporation for the year for the purposes of Division II.6.0.1.8.

A corporation makes the election referred to in the fourth paragraph, in respect of a particular taxation year, by filing with the Minister the prescribed form containing prescribed information on or before the day that is 12 months after the corporation’s filing-due date for the particular year.

The corporations that are members of a group of associated corporations for a particular taxation year make the election referred to in the fifth paragraph for the particular year by filing with the Minister the prescribed form containing prescribed information on or before the day that is 12 months after the earliest of the filing-due dates of the members of the group for the particular year.

The 12-month time limit provided for in the seventh and eighth paragraphs, in relation to a taxation year, is extended by operation of law if

(a)  after the 15th day preceding the expiry of that time limit, the corporation referred to in the first paragraph obtained a qualification certificate that the corporation is required to file with the Minister, in respect of the taxation year, in accordance with the first paragraph; and

(b)  the application for the qualification certificate was filed with Investissement Québec before the expiry of the ninth month following the corporation’s filing-due date for the taxation year.

A corporation is deemed to have filed with the Minister the prescribed form containing prescribed information, referred to in the seventh or eighth paragraph, as the case may be, within the time limit provided for in that paragraph, in respect of a taxation year where, in accordance with the third paragraph of section 1029.6.0.1.2, it is deemed to have filed with the Minister a copy of the qualification certificate referred to in the first paragraph and the documents referred to in the third paragraph on or before the day that is 12 months after the corporation’s filing-due date for the taxation year so as to be deemed to have paid an amount to the Minister for the year under this section.

2009, c. 15, s. 241; 2012, c. 8, s. 203.

2009-06-04

1029.8.36.0.3.80. A qualified corporation that holds, for a taxation year, a valid qualification certificate issued by Investissement Québec for the purposes of this division and that encloses with the fiscal return it is required to file for the year under section 1000 a copy of the certificate as well as the documents described in the third paragraph is deemed, subject to the second paragraph, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to 30% of the aggregate of all amounts each of which is the qualified wages incurred by the corporation in the year in respect of an eligible employee for all or part of that year.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the valid qualification certificate issued to the corporation for the year by Investissement Québec in respect of an eligible employee for the purposes of this division.

Despite the first paragraph, a corporation that is described in the sixth paragraph in relation to a taxation year, that made no election under this paragraph or under the fifth paragraph for a preceding taxation year and that is not required to make the election described in the fifth paragraph for the year, may be deemed to have paid to the Minister an amount determined under this section for the year only if the corporation so elects irrevocably for the year in the manner and within the time specified in the seventh paragraph.

Despite the first paragraph, if corporations are associated with each other in a taxation year, all those corporations together being referred to in this section as the “group of associated corporations” for the year, if a particular corporation that is a member of the group of associated corporations for the year holds a valid qualification certificate issued for the year by Investissement Québec for the purposes of this division, if at least one other corporation that is a member of the group for the year did not make the election under the fourth paragraph or under this paragraph for a preceding taxation year and if at least one corporation that is a member of the group of associated corporations for the year, other than the particular corporation, is a corporation described in the sixth paragraph in relation to that year, the particular corporation may be deemed to have paid to the Minister an amount determined under this section for the year only if all the corporations that are members of the group for the year jointly and irrevocably elect, in the manner and within the time specified in the eighth paragraph, that this section apply to the particular corporation for the year.

A corporation to which the fourth and fifth paragraphs refer, in relation to a particular taxation year, is

(a)  a corporation that is deemed to have paid an amount to the Minister on account of its tax payable for a taxation year preceding the particular year under any of Divisions II.6.0.1.6, II.6.0.1.8 and II.6.0.3 or that is deemed, under section 34.1.9 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5), to have made an overpayment to the Minister for that preceding year for the purposes of Division I of Chapter IV of that Act; or

(b)  a corporation that carries on an eligible business in a biotechnology development centre in the particular year or that entered into a contract that qualifies as an eligible contract of the corporation for the year for the purposes of Division II.6.0.1.8.

A corporation makes the election under the fourth paragraph, in respect of a taxation year, by filing the prescribed form containing prescribed information with the Minister on or before the corporation’s filing-due date for the year.

The corporations that are members of a group of associated corporations for a particular taxation year make the election under the fifth paragraph for the particular year by filing the prescribed form containing prescribed information with the Minister on or before the earliest of the filing-due dates of the members of the group for the year.

2009, c. 15, s. 241.