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I-3 - Taxation Act

Section 1049.0.1.0.1
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1049.0.1.0.1. Every person who, knowingly or under circumstances amounting to gross negligence, makes, or acquiesces or participates in the making of, a false statement or omission in a statement required to be filed under section 359.15 in respect of a renunciation purported to have been made because of the application of section 359.8 or who fails to file the statement on or before the day that is 24 months after the day on or before which it was required to be filed incurs, in addition to the penalty under section 59 of the Tax Administration Act (chapter A-6.002), a penalty equal to 25% of the amount by which the portion of the excess referred to in section 359.15 that was known or that ought to have been known by the person, exceeds
(a)  where this section applies otherwise than because of the person’s failure to file the statement on or before the day that is 24 months after the day on or before which it was required to be filed, the portion of the excess referred to in section 359.15 that is identified in the statement; and
(b)  in any other case, zero.
1998, c. 16, s. 241; 2010, c. 31, s. 175.
1049.0.1.0.1. Every person who, knowingly or under circumstances amounting to gross negligence, makes, or acquiesces or participates in the making of, a false statement or omission in a statement required to be filed under section 359.15 in respect of a renunciation purported to have been made because of the application of section 359.8 or who fails to file the statement on or before the day that is 24 months after the day on or before which it was required to be filed incurs, in addition to the penalty under section 59 of the Act respecting the Ministère du Revenu (chapter M-31), a penalty equal to 25% of the amount by which the portion of the excess referred to in section 359.15 that was known or that ought to have been known by the person, exceeds
(a)  where this section applies otherwise than because of the person’s failure to file the statement on or before the day that is 24 months after the day on or before which it was required to be filed, the portion of the excess referred to in section 359.15 that is identified in the statement; and
(b)  in any other case, zero.
1998, c. 16, s. 241.
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