I-3 - Taxation Act

Section 75.6 Disposition versions

2009-06-04

75.6. (Repealed).

2007, c. 12, s. 31; 2009, c. 5, s. 48; 2009, c. 15, s. 45.

2009-05-15

75.6. If the amount described in subparagraph b of the second paragraph of section 75.2.1 is to be used for a taxation year subsequent to the taxation year 2007, it is to be adjusted annually in such a manner that the amount used for that taxation year is equal to the total of the amount used for the preceding taxation year and the product obtained by multiplying that amount by the factor determined by the formula

(A / B) - 1.

In the formula in the first paragraph,

(a)  A is the overall average Québec consumer price index without alcoholic beverages and tobacco products for the 12-month period that ended on 30 September of the taxation year preceding that for which an amount is to be adjusted; and

(b)  B is the overall average Québec consumer price index without alcoholic beverages and tobacco products for the 12-month period that ended on 30 September of the taxation year next before the year preceding that for which the amount is to be adjusted.

If the factor determined by the formula in the first paragraph has more than four decimal places, only the first four decimal digits are retained and the fourth is increased by one unit if the fifth is greater than 4.

If the amount that results from the adjustment provided for in the first paragraph is not a multiple of $5, it is to be rounded to the nearest multiple of $5 or, if it is equidistant from two such multiples, to the higher of the two.

2007, c. 12, s. 31; 2009, c. 5, s. 48.

2007-11-07

75.6. If the amount described in subparagraph b of the second paragraph of section 75.2.1 is to be used for a taxation year subsequent to the taxation year 2007, it is to be adjusted annually in such a manner that the amount used for that taxation year is equal to the total of the amount used for the preceding taxation year and the product obtained by multiplying that amount by the factor determined by the formula

(A / B) − 1.

In the formula in the first paragraph,

(a)  A is the overall average Québec consumer price index without alcoholic beverages and tobacco products for the 12-month period that ended on 30 September of the taxation year preceding that for which an amount is to be adjusted; and

(b)  B is the overall average Québec consumer price index without alcoholic beverages and tobacco products for the 12-month period that ended on 30 September of the taxation year next before the year preceding that for which the amount is to be adjusted.

If the amount that results from the adjustment provided for in the first paragraph is not a multiple of $5, it is to be rounded to the nearest multiple of $5 or, if it is equidistant from two such multiples, to the higher of the two.

2007, c. 12, s. 31.