R-5 - Act respecting the Régie de l’assurance maladie du Québec

Section 34.1.0.4 Disposition versions

2021-12-10

34.1.0.4. Subject to the second, fourth and fifth paragraphs, a partnership’s tax assistance limit, in relation to a large investment project, is 15% of the partnership’s total qualified capital investments on the date of the end of the start-up period of the large investment project, unless the partnership acquired all or substantially all of the recognized business in relation to the project, in which case it is the amount that was transferred to the partnership pursuant to the agreement referred to in section 737.18.17.12 of the Taxation Act (chapter I-3) in respect of the acquisition.

In the case of a deemed large investment project within the meaning of the seventh paragraph of section 33, the partnership’s tax assistance limit in relation to the project is, for a particular fiscal period,

(a)  where the particular fiscal period ends before the date of the beginning of the tax-free period in respect of the second large investment project, the partnership’s tax assistance limit in relation to the first large investment project;

(b)  where the particular fiscal period begins before the date of the beginning of the tax-free period in respect of the second large investment project and ends on or after that date, the amount determined by the formula

A + (B × C); or

(c)  where the particular fiscal period begins on or after the date of the beginning of the tax-free period in respect of the second large investment project, the amount determined by the formula

A + B.

In the formulas in the second paragraph,

(a)  A is the partnership’s tax assistance limit in relation to the first large investment project;

(b)  B is the partnership’s tax assistance limit in relation to the second large investment project; and

(c)  C is the proportion that the number of days in the part of the particular fiscal period that begins on the date of the beginning of the tax-free period in respect of the second large investment project is of the number of days in the fiscal period.

Where the partnership has begun to carry on the recognized business in relation to the large investment project in a fiscal period that ends before the date of the end of the start-up period of the project, the partnership’s tax assistance limit in relation to the project, for any fiscal period that ends before the date of the end of the start-up period of the project, is to be computed, under the first paragraph, on the date on which that fiscal period ends.

Where the partnership has acquired all or substantially all of the recognized business in relation to the large investment project before the date of the end of the start-up period of the project, the partnership’s tax assistance limit in relation to the project, for any fiscal period that ends on or after the date of the end of the start-up period of the project, is to be increased by an amount equal to the product obtained by multiplying by 15% the amount that would be the partnership’s total qualified capital investments on the date of the end of the start-up period if the definition of “total qualified capital investments” in the first paragraph of section 737.18.17.1 of the Taxation Act were read as if “from the beginning of the carrying out of the large investment project” were replaced by “from the time the corporation or partnership acquired the recognized business in relation to the large investment project”.

2015, c. 21, s. 594; 2019, c. 14, s. 523; 2021, c. 36, s. 182.

2019-06-19

34.1.0.4. Subject to the second paragraph, the tax assistance limit of an employer that is a partnership, in relation to a large investment project, is 15% of the employer’s total qualified capital investments on the date of the beginning of the tax-free period in respect of the large investment project, unless the employer acquired all or substantially all of the recognized business in relation to the project, in which case it is the amount that was transferred to the employer pursuant to the agreement referred to in section 737.18.17.12 of the Taxation Act (chapter I-3) in respect of the acquisition.

In the case of a deemed large investment project within the meaning of the seventh paragraph of section 33, the employer’s tax assistance limit in relation to the project is, for a particular fiscal period,

(a)  where the particular fiscal period ends before the date of the beginning of the tax-free period in respect of the second large investment project, the employer’s tax assistance limit in relation to the first large investment project;

(b)  where the particular fiscal period begins before the date of the beginning of the tax-free period in respect of the second large investment project and ends on or after that date, the amount determined by the formula

A + (B × C); or

(c)  where the particular fiscal period begins on or after the date of the beginning of the tax-free period in respect of the second large investment project, the amount determined by the formula

A + B.

In the formulas in the second paragraph,

(a)  A is the employer’s tax assistance limit in relation to the first large investment project;

(b)  B is the employer’s tax assistance limit in relation to the second large investment project; and

(c)  C is the proportion that the number of days in the part of the particular fiscal period that begins on the date of the beginning of the tax-free period in respect of the second large investment project is of the number of days in the fiscal period.

2015, c. 21, s. 594; 2019, c. 14, s. 523.

2015-10-21

34.1.0.4. The tax assistance limit of an employer that is a partnership, in relation to a large investment project, is 15% of the employer’s total qualified capital investments on the date of the beginning of the tax-free period in respect of the large investment project, unless the employer acquired all or substantially all of the recognized business in relation to the project, in which case it is the amount that was transferred to the employer pursuant to the agreement referred to in section 737.18.17.12 of the Taxation Act (chapter I-3) in respect of the acquisition.

2015, c. 21, s. 594.