Ministère de l'Emploi et de la Solidarité sociale
Consolidated Statutes and Regulations Consolidated Statutes Consolidated Regulations Annual Statutes and Regulations Annual Statutes Annual Regulations Additional information Québec Official Publisher What’s new? Information note Policy of the Minister of Justice Laws: Amendments Laws: Provisions not in force Laws: Provisions brought into force Annual Statutes: PDF versions since 1996 Regulations: Amendments Annual Regulations: PDF versions since 1996 Court Decisions

I-3 - Taxation Act

Section 421.5
Disposition versions

Full text
421.5. For the purposes of this Part, any interest paid or payable for a period by a person on borrowed money used to acquire a passenger vehicle or a zero-emission passenger vehicle or on an amount paid or payable for such an acquisition is deemed, in computing the income of the person for a taxation year, to be the lesser of the amount paid or payable and the amount determined by the formula

(A / 30) × B.

In the formula in the first paragraph,
(a)  A is $250 or such other amount as may be prescribed;
(b)  B is the number of days in the period in respect of which the interest is paid or payable, as the case may be.
1990, c. 59, s. 168; 1993, c. 16, s. 176; 1994, c. 22, s. 156; 2021, c. 18, s. 44.
421.5. For the purposes of this Part, any interest paid or payable for a period by a person on borrowed money used to acquire a passenger vehicle or on an amount paid or payable for such an acquisition is deemed, in computing the income of the person for a taxation year, to be the lesser of the amount paid or payable and the amount equal to that determined by the formula

(A / 30) × B.

For the purposes of the formula set forth in the first paragraph,
(a)  A is $250 or such other amount as may be prescribed;
(b)  B is the number of days in the period in respect of which the interest is paid or payable, as the case may be.
1990, c. 59, s. 168; 1993, c. 16, s. 176; 1994, c. 22, s. 156.
© Gouvernement du Québec