T-0.1 - Act respecting the Québec sales tax

Section 331.4 Disposition versions

2009-05-15

331.4. For the purposes of this division, a person or a group of persons holds, at any time, all or substantially all of the interest in a partnership only if, at that time,

(1)  the person, or every person in the group of persons, is a member of the partnership; and

(2)  the person, or the members of the group collectively, as the case may be, is or are

(a)  entitled to receive at least 90% of

i.  if the partnership had income for the last fiscal period, within the meaning of the Taxation Act (chapter I-3), of the partnership that ended before that time, or if the partnership’s first fiscal period includes that time, for that fiscal period, the total of all amounts each of which is the share of that income from all sources that each member of the partnership is entitled to receive, or

ii.  if the partnership had no income for the last fiscal period or the first fiscal period referred to in subparagraph i, as the case may be, the total of all amounts each of which is the share of the income of the partnership that each member of the partnership would be entitled to receive if the income of the partnership from each source were one dollar,

(b)  entitled to receive at least 90% of the total amount that would be paid to all members of the partnership, otherwise than as a share of any income of the partnership, if it were wound up at that time, and

(c)  able to direct the business and affairs of the partnership or would be so able if no secured creditor had any security interest in an interest in, or the property of, the partnership.

2001, c. 53, s. 331; 2009, c. 5, s. 627.

2001-12-20

331.4. For the purposes of sections 329.1 to 331.3 and 334 to 336, a person or a group of persons holds, at any time, all or substantially all of the interest in a partnership only if, at that time,

(1)  the person, or every person in the group of persons, is a member of the partnership; and

(2)  the person, or the members of the group collectively, as the case may be, is or are

(a)  entitled to receive at least 90% of

i.  if the partnership had income for the last fiscal period, within the meaning of the Taxation Act (chapter I-3), of the partnership that ended before that time, or if the partnership’s first fiscal period includes that time, for that fiscal period, the total of all amounts each of which is the share of that income from all sources that each member of the partnership is entitled to receive, or

ii.  if the partnership had no income for the last fiscal period or the first fiscal period referred to in subparagraph i, as the case may be, the total of all amounts each of which is the share of the income of the partnership that each member of the partnership would be entitled to receive if the income of the partnership from each source were one dollar,

(b)  entitled to receive at least 90% of the total amount that would be paid to all members of the partnership, otherwise than as a share of any income of the partnership, if it were wound up at that time, and

(c)  able to direct the business and affairs of the partnership or would be so able if no secured creditor had any security interest in an interest in, or the property of, the partnership.

2001, c. 53, s. 331.