I-3 - Taxation Act

Section 716.0.1.2 Disposition versions

2020-06-15

716.0.1.2. For the purpose of determining the amount that is deductible under paragraphs a and d of section 710 in computing the taxable income of a corporation for a taxation year, the eligible amount of a gift of a work of public art described in the second paragraph is to be increased by 1/2 of that amount if the fair market value of the work is determined under any of sections 710.1, 710.2, 710.2.1 and 710.2.1.1.

The gift to which the first paragraph refers is the gift of a work of public art in respect of which a certificate has been issued by the Minister of Culture and Communications for the purposes of this section and that is made to

(a)  an educational institution that is a mandatary of the State;

(b)  a school service centre governed by the Education Act (chapter I-13.3) or a school board governed by the Education Act for Cree, Inuit and Naskapi Native Persons (chapter I-14); or

(c)  a registered charity whose mission is teaching and that is

i.  an educational institution established under an Act of the Parliament of Québec, other than an institution described in subparagraph a,

ii.  a college governed by the General and Vocational Colleges Act (chapter C-29),

iii.  a private educational institution accredited for subsidies purposes under the Act respecting private education (chapter E-9.1), or

iv.  a university-level educational institution referred to in any of paragraphs 1 to 11 of section 1 of the Act respecting educational institutions at the university level (chapter E-14.1).

2015, c. 21, s. 237; 2020, c. 1, s. 282.

2015-10-21

716.0.1.2. For the purpose of determining the amount that is deductible under paragraphs a and d of section 710 in computing the taxable income of a corporation for a taxation year, the eligible amount of a gift of a work of public art described in the second paragraph is to be increased by 1/2 of that amount if the fair market value of the work is determined under any of sections 710.1, 710.2, 710.2.1 and 710.2.1.1.

The gift to which the first paragraph refers is the gift of a work of public art in respect of which a certificate has been issued by the Minister of Culture and Communications for the purposes of this section and that is made to

(a)  an educational institution that is a mandatary of the State;

(b)  a school board governed by the Education Act (chapter I-13.3) or the Education Act for Cree, Inuit and Naskapi Native Persons (chapter I-14); or

(c)  a registered charity whose mission is teaching and that is

i.  an educational institution established under an Act of the Parliament of Québec, other than an institution described in subparagraph a,

ii.  a college governed by the General and Vocational Colleges Act (chapter C-29),

iii.  a private educational institution accredited for subsidies purposes under the Act respecting private education (chapter E-9.1), or

iv.  a university-level educational institution referred to in any of paragraphs 1 to 11 of section 1 of the Act respecting educational institutions at the university level (chapter E-14.1).

2015, c. 21, s. 237.