I-3 - Taxation Act

Section 1029.8.36.59.35 Disposition versions

2021-06-04

1029.8.36.59.35. (Repealed).

2013, c. 10, s. 121; 2021, c. 18, s. 124.

2013-06-05

1029.8.36.59.35. In this division,

“eligible issue expenses” for a taxation year means the expenses that a qualified issuing corporation has incurred in the year or in a preceding taxation year in the course of its first public share issue under Title VI.5 of Book VII, without exceeding the lesser of

(a)  15% of the proceeds of the public share issue; and

(b)  $3,000,000;

“public share issue” means the distribution of a share in accordance with a receipt granted by the Autorité des marchés financiers;

“qualified issuing corporation” means a corporation described in section 965.90 or 965.94 and that is not governed by an Act establishing a labour-sponsored fund, by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1) or by the Act respecting Québec business investment companies (chapter S-29.1).

For the purposes of the definition of “eligible issue expenses” in the first paragraph, the expenses referred to in the definition do not include expenses that would, but for section 147.1, be deductible under section 147 in computing the qualified issuing corporation’s income for a taxation year and that are incurred after 20 March 2012.

2013, c. 10, s. 121.