I-3 - Taxation Act

Section 1175.4.2 Disposition versions

2021-01-01

1175.4.2. (Repealed).

2002, c. 9, s. 138; 2005, c. 1, s. 293; 2012, c. 8, s. 255; 2019, c. 14, s. 466.

2012-05-09

1175.4.2. A life insurer may deduct an amount under this Part in computing its tax payable for a taxation year, in accordance with section 1175.4.1, only if it encloses with the fiscal return it is required to file under section 1000 for the year the prescribed form containing prescribed information and a copy of the initial qualification certificate issued to it, in respect of a major investment project relating to a recognized business it carries on in the year, and of any annual qualification certificate issued for the year in respect of the major investment project.

In addition, a corporation that is exempt from tax for a taxation year under Book VIII of Part I, other than an insurer described in paragraph k of section 998 that is not so exempt from tax on the totality of its taxable income for the year by reason of section 999.0.1, shall not make any deduction for the year under section 1175.4.1 in relation to a major investment project, unless such a project is one in respect of which an application to obtain that deduction, accompanied by the required documents, was sent to the Minister of Finance before 11 March 2003.

2002, c. 9, s. 138; 2005, c. 1, s. 293; 2012, c. 8, s. 255.

2006-03-01

1175.4.2. A life insurer may deduct an amount under this Part in computing its tax payable for a taxation year, pursuant to section 1175.4.1, only if it encloses with its fiscal return it is required to file under section 1000 for the year the prescribed form containing the prescribed information and a copy of the unrevoked initial qualification certificate issued to the life insurer, in respect of a major investment project relating to a recognized business carried on in the year by the life insurer, and of any valid annual qualification certificate issued for the year in respect of the major investment project.

In addition, a corporation that is exempt from tax for a taxation year under Book VIII of Part I, other than an insurer described in paragraph k of section 998 that is not so exempt from tax on the totality of its taxable income for the year by reason of section 999.0.1, shall not make any deduction for the year under section 1175.4.1 in relation to a major investment project, unless such a project is one in respect of which an application to obtain that deduction, accompanied by the required documents, was sent to the Minister of Finance before 11 March 2003.

2002, c. 9, s. 138; 2005, c. 1, s. 293.