I-3 - Taxation Act

Section 1138.2.3.1 Disposition versions

2022-06-08

1138.2.3.1. (Repealed).

2010, c. 25, s. 223; 2022, c. 23, s. 152.

2010-10-27

1138.2.3.1. The amount to which the first paragraph of section 1138.2.3 refers in respect of a corporation for a taxation year is equal to the product obtained by multiplying the balance of the corporation’s tax assistance limit for the year by the reciprocal of the proportion that is the percentage determined in respect of the corporation for the year under section 1132.5 and, if the corporation has an establishment situated outside Québec, by the reciprocal of the proportion that the corporation’s business carried on in Québec is of the aggregate of its business carried on in Canada or in Québec and elsewhere, as determined under section 1133.

For the purposes of the first paragraph, the balance of a corporation’s tax assistance limit for a taxation year is equal to the amount by which its tax assistance limit for the year, determined under section 1029.8.36.72.82.1.1, exceeds the aggregate of

(a)  the aggregate of the following amounts that is multiplied, if the corporation has an establishment situated outside Québec, by the proportion that its business carried on in Québec is of the aggregate of its business carried on in Canada or in Québec and elsewhere, as determined under subsection 2 of section 771:

i.  8% of the lesser of the amount the corporation deducts in computing its taxable income for the year under section 737.18.26 and the amount by which the amount that would be determined in its respect for the year under section 771.2.1.2 if no reference were made to section 771.2.6 and if, for the purposes of paragraph b of section 771.2.1.2, its taxable income for the year were computed without reference to section 737.18.26, exceeds the amount that would be determined in its respect for the year under section 771.2.1.2 if the corporation were to deduct, in computing its taxable income, all of the amount that, but for section 737.18.26.1, would be determined under section 737.18.26, and

ii.  11.9% of the amount by which the amount that the corporation deducts in computing its taxable income for the year under section 737.18.26 exceeds the excess amount determined in subparagraph i;

(b)  the amount that the corporation is deemed to have paid to the Minister for the year under subparagraph a.1 of the first paragraph of section 1029.8.36.72.82.3.2 or 1029.8.36.72.82.3.3; and

(c)  the amount that would be payable by the corporation as the contribution provided for in section 34 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5) in respect of the aggregate of all amounts each of which is an amount, representing a proportion of wages paid or deemed to be paid in the year, for which no contribution is payable by the corporation under the sixth paragraph of section 34 of that Act.

2010, c. 25, s. 223.