I-3 - Taxation Act

Section 1173.1 Disposition versions

2015-10-26

1173.1. Every insurance corporation carrying on business in Québec shall pay, as tax on capital, for every taxation year, on every taxable premium paid in the year to the corporation or its agent in respect of a person resident in Québec at the time of payment, a tax equal to 3% of the taxable premium.

Where a taxable premium in respect of a particular uninsured employee benefit plan is not paid to an insurance corporation, that premium is deemed to be paid to the corporation that pays the premium in respect of the uninsured employee benefit plan.

In no case may the amount of the tax determined under the first paragraph to be paid by an insurance corporation, other than a corporation to which section 61 of the Act respecting international financial centres (chapter C-8.3) applies, be less than $600.

1993, c. 19, s. 152; 1993, c. 64, s. 201; 1997, c. 3, s. 71; 2002, c. 40, s. 323; 2015, c. 24, s. 161.

2006-03-01

1173.1. Every insurance corporation carrying on business in Québec shall pay, as tax on capital, for every taxation year, on every taxable premium paid in the year to the corporation or its agent in respect of a person resident in Québec at the time of payment, a tax equal to 2% of the taxable premium.

Where a taxable premium in respect of a particular uninsured employee benefit plan is not paid to an insurance corporation, that premium is deemed to be paid to the corporation that pays the premium in respect of the uninsured employee benefit plan.

In no case may the amount of the tax determined under the first paragraph to be paid by an insurance corporation, other than a corporation to which section 61 of the Act respecting international financial centres (chapter C-8.3) applies, be less than $600.

1993, c. 19, s. 152; 1993, c. 64, s. 201; 1997, c. 3, s. 71; 2002, c. 40, s. 323.