S-34 - Act respecting fiscal incentives to industrial development

Section 22 Disposition versions

1980-06-18

22. Any corporation operating a manufacturing business in Québec which makes an allowable investment of at least $50 000 in Zone I or in Zone II during the period commencing 1 April 1977 and terminating 31 March 1981 may, subject to section 24, deduct, from the tax otherwise payable by it for a taxation year, 25 per cent of the amount of such portion of that investment as was made during the part of that year which is comprised within the said period, provided that the corporation files with the Minister of Revenue, in support of its claim, the certificate contemplated in section 26 concerning such investment.

However, no deduction is allowed, under this section, in respect of any allowable investment, before the taxation year comprised within the period mentioned in the first paragraph in which the cumulative amount of such investment attains $50 000; any portion of such investment made before such latter year is, for the purposes of this section, deemed to have been made during that part of the year which is comprised within the said period.

1977, c. 59, s. 22; 1980, c. 13, s. 122.

1977-12-31

22. Any corporation operating a manufacturing business in Québec which makes an allowable investment of at least $50,000 in Zone I or in Zone II during the period commencing 1 April 1977 and terminating 31 March 1980 may, subject to section 24, deduct, from the tax otherwise payable by it for a taxation year, 25 per cent of the amount of such portion of that investment as was made during the part of that year which is comprised within the said period, provided that the corporation files with the Minister of Revenue, in support of its claim, the certificate contemplated in section 26 concerning such investment.

However, no deduction is allowed, under this section, in respect of any allowable investment, before the taxation year comprised within the period mentioned in the first paragraph in which the cumulative amount of such investment attains $50,000; any portion of such investment made before such latter year is, for the purposes of this section, deemed to have been made during that part of the year which is comprised within the said period.

1977, c. 59, s. 22.