I-3 - Taxation Act

Section 1029.8.36.166.2 Disposition versions

2012-05-09

1029.8.36.166.2. (Repealed).

2003, c. 9, s. 340; 2012, c. 8, s. 228.

2006-03-01

1029.8.36.166.2. The amount to which the definition of “expenditure in respect of administrative costs” in section 1029.8.36.166.1 refers in respect of a corporation for a taxation year is equal to the aggregate of all amounts each of which is an expenditure that is reasonable in the circumstances and incurred by the corporation in the year but in the period between 26 April 2000 and 1 January 2004, in relation to an eligible activity of the corporation engaged in by the corporation in that period, and each of which is expenses or professional fees incurred by the corporation to obtain membership in the National Association of Securities Dealers.

For the purposes of the first paragraph, the following rules apply:

(a)  the expenses and professional fees referred to in that paragraph include the costs for opening a file with the National Association of Securities Dealers, but do not include an amount attributable to expenses or remuneration incurred by the corporation in respect of its employees to obtain membership in the National Association of Securities Dealers; and

(b)  the expenses and professional fees referred to in that paragraph incurred by the corporation in a taxation year preceding the year in which the corporation qualifies as a qualified corporation for the first time, in this subparagraph referred to as the “qualification year”, are deemed to be incurred in the qualification year where it is reasonable to consider that the expenses or fees were incurred by the corporation for the sole purpose of enabling it to engage in an eligible activity in an establishment situated in Québec.

2003, c. 9, s. 340.