I-3 - Taxation Act

Section 767 Disposition versions

2022-06-08

767. An individual, other than an individual referred to in the second paragraph of section 25 or 26, may deduct from the individual’s tax otherwise payable under this Part for a taxation year the aggregate of

(a)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph a of the second paragraph of section 497 by

i.  7.2848/16, for the taxation year 2018,

ii.  6.3825/15, for the taxation year 2019,

iii.  5.4855/15, for the taxation year 2020,

iv.  4.6115/15, for the taxation year 2021, and

v.  3.933/15, for a taxation year subsequent to the taxation year 2021; and

(b)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph b of the second paragraph of section 497 by

i.  16.3668/38, for the taxation year 2018,

ii.  16.2564/38, for the taxation year 2019, and

iii.  16.146/38, for a taxation year subsequent to the taxation year 2019.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  (subparagraph repealed);

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168; 2009, c. 5, s. 303; 2009, c. 15, s. 149; 2015, c. 21, s. 309; 2017, c. 1, s. 202; 2019, c. 14, s. 237; 2021, c. 14, s. 89; 2021, c. 36, s. 85; 2022, c. 23, s. 63.

2021-12-10

767. An individual, other than an individual referred to in the second paragraph of section 25 or 26, may deduct from the individual’s tax otherwise payable under this Part for a taxation year the aggregate of

(a)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph a of the second paragraph of section 497 by

i.  7.2848/16, for the taxation year 2018,

ii.  6.3825/15, for the taxation year 2019,

iii.  5.4855/15, for the taxation year 2020,

iv.  4.6115/15, for the taxation year 2021, and

v.  3.933/15, for a taxation year subsequent to the taxation year 2021; and

(b)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph b of the second paragraph of section 497 by

i.  16.3668/38, for the taxation year 2018,

ii.  16.2564/38, for the taxation year 2019, and

iii.  16.146/38, for a taxation year subsequent to the taxation year 2019.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, within the meaning of section 737.18.29, in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph a of the second paragraph of section 737.18.34 in respect of that period; or

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168; 2009, c. 5, s. 303; 2009, c. 15, s. 149; 2015, c. 21, s. 309; 2017, c. 1, s. 202; 2019, c. 14, s. 237; 2021, c. 14, s. 89; 2021, c. 36, s. 85.

2021-06-02

767. An individual, other than an individual referred to in the second paragraph of section 25 or 26, may deduct from the individual’s tax otherwise payable under this Part for a taxation year the aggregate of

(a)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph a of the second paragraph of section 497 by

i.  7.2848/16, for the taxation year 2018,

ii.  6.3825/15, for the taxation year 2019,

iii.  5.4855/15, for the taxation year 2020, and

iv.  4.6115/15, for a taxation year subsequent to the taxation year 2020; and

(b)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph b of the second paragraph of section 497 by

i.  16.3668/38, for the taxation year 2018,

ii.  16.2564/38, for the taxation year 2019, and

iii.  16.146/38, for a taxation year subsequent to the taxation year 2019.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, within the meaning of section 737.18.29, in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph a of the second paragraph of section 737.18.34 in respect of that period; or

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168; 2009, c. 5, s. 303; 2009, c. 15, s. 149; 2015, c. 21, s. 309; 2017, c. 1, s. 202; 2019, c. 14, s. 237; 2021, c. 14, s. 89.

2019-06-19

767. An individual may deduct from the individual’s tax otherwise payable under this Part for a taxation year the aggregate of

(a)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph a of the second paragraph of section 497 by

i.  7.2848/16, for the taxation year 2018,

ii.  6.3825/15, for the taxation year 2019,

iii.  5.4855/15, for the taxation year 2020, and

iv.  4.6115/15, for a taxation year subsequent to the taxation year 2020; and

(b)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph b of the second paragraph of section 497 by

i.  16.3668/38, for the taxation year 2018,

ii.  16.2564/38, for the taxation year 2019, and

iii.  16.146/38, for a taxation year subsequent to the taxation year 2019.

However, where that individual is an individual contemplated in the second paragraph of any of sections 22, 25 or 26, he shall deduct no more than the part of the amount determined under the first paragraph which is equal to the proportion contemplated in the second paragraph of one of the said sections, as the case may be.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, within the meaning of section 737.18.29, in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph a of the second paragraph of section 737.18.34 in respect of that period; or

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168; 2009, c. 5, s. 303; 2009, c. 15, s. 149; 2015, c. 21, s. 309; 2017, c. 1, s. 202; 2019, c. 14, s. 237.

2017-02-08

767. An individual may deduct from the individual’s tax otherwise payable under this Part for a taxation year the aggregate of

(a)  the amount obtained by multiplying 8.2485/17 by the amount the individual is required to include in computing the individual’s income for the year under subparagraph a of the second paragraph of section 497; and

(b)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph b of the second paragraph of section 497 by

i.  17.255/45, for the taxation year 2009,

ii.  17.136/44, for the taxation year 2010,

iii.  16.779/41, for the taxation year 2011, and

iv.  16.422/38, for a taxation year subsequent to the taxation year 2011.

However, where that individual is an individual contemplated in the second paragraph of any of sections 22, 25 or 26, he shall deduct no more than the part of the amount determined under the first paragraph which is equal to the proportion contemplated in the second paragraph of one of the said sections, as the case may be.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, within the meaning of section 737.18.29, in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph a of the second paragraph of section 737.18.34 in respect of that period; or

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168; 2009, c. 5, s. 303; 2009, c. 15, s. 149; 2015, c. 21, s. 309; 2017, c. 1, s. 202.

2015-10-21

767. An individual may deduct from the individual’s tax otherwise payable under this Part for a taxation year the aggregate of

(a)  the amount obtained by multiplying 8.319/18 by the amount the individual is required to include in computing the individual’s income for the year under subparagraph a of the second paragraph of section 497; and

(b)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph b of the second paragraph of section 497 by

i.  17.255/45, for the taxation year 2009,

ii.  17.136/44, for the taxation year 2010,

iii.  16.779/41, for the taxation year 2011, and

iv.  16.422/38, for a taxation year subsequent to the taxation year 2011.

However, where that individual is an individual contemplated in the second paragraph of any of sections 22, 25 or 26, he shall deduct no more than the part of the amount determined under the first paragraph which is equal to the proportion contemplated in the second paragraph of one of the said sections, as the case may be.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, within the meaning of section 737.18.29, in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph a of the second paragraph of section 737.18.34 in respect of that period; or

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168; 2009, c. 5, s. 303; 2009, c. 15, s. 149; 2015, c. 21, s. 309.

2009-06-04

767. An individual may deduct from the individual’s tax otherwise payable under this Part for a taxation year the aggregate of

(a)  the amount obtained by multiplying 2/5 by the amount the individual is required to include in computing the individual’s income for the year under subparagraph a of the second paragraph of section 497; and

(b)  the amount obtained by multiplying the amount the individual is required to include in computing the individual’s income for the year under subparagraph b of the second paragraph of section 497 by

i.  17.255/45, for the taxation year 2009,

ii.  17.136/44, for the taxation year 2010,

iii.  16.779/41, for the taxation year 2011, and

iv.  16.422/38, for a taxation year subsequent to the taxation year 2011.

However, where that individual is an individual contemplated in the second paragraph of any of sections 22, 25 or 26, he shall deduct no more than the part of the amount determined under the first paragraph which is equal to the proportion contemplated in the second paragraph of one of the said sections, as the case may be.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, within the meaning of section 737.18.29, in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph a of the second paragraph of section 737.18.34 in respect of that period; or

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168; 2009, c. 5, s. 303; 2009, c. 15, s. 149.

2009-05-15

767. An individual may deduct from the individual’s tax otherwise payable under this Part for a taxation year the aggregate of

(a)  the amount obtained by multiplying 2/5 by the amount the individual is required to include in computing the individual’s income for the year under subparagraph a of the second paragraph of section 497; and

(b)  the amount obtained by multiplying 17.255/45 by the amount the individual is required to include in computing the individual’s income for the year under subparagraph b of the second paragraph of section 497.

However, where that individual is an individual contemplated in the second paragraph of any of sections 22, 25 or 26, he shall deduct no more than the part of the amount determined under the first paragraph which is equal to the proportion contemplated in the second paragraph of one of the said sections, as the case may be.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, within the meaning of section 737.18.29, in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph a of the second paragraph of section 737.18.34 in respect of that period; or

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168; 2009, c. 5, s. 303.

2006-03-01

767. An individual may deduct from the individual’s tax otherwise payable under this Part an amount equal to the amount obtained by multiplying 54.15% by the amount the individual is required to include in computing the individual’s income for the year under the second paragraph of section 497.

However, where that individual is an individual contemplated in the second paragraph of any of sections 22, 25 or 26, he shall deduct no more than the part of the amount determined under the first paragraph which is equal to the proportion contemplated in the second paragraph of one of the said sections, as the case may be.

The first paragraph does not apply in respect of an amount deducted under paragraph e of section 725 in computing the individual’s taxable income for the year or in respect of an amount that is

(a)  an amount included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of the individual’s exemption period, within the meaning of section 737.18.6, in relation to an employment that is included in the year;

(b)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, within the meaning of section 737.18.29, in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph a of the second paragraph of section 737.18.34 in respect of that period; or

(c)  the part of an amount, included in the part of the individual’s income for the year that may reasonably be considered to be earned in the part of a specified period of the individual, established under the fourth paragraph of section 65 of the Act respecting international financial centres (chapter C-8.3), in relation to an employment that is included in the year, that is equal to the product obtained by multiplying that amount by the percentage determined under subparagraph 1 of the second paragraph of that section 65 in respect of that period.

1972, c. 23, s. 580; 1978, c. 26, s. 137; 1984, c. 15, s. 178; 1986, c. 15, s. 118; 1988, c. 4, s. 64; 1988, c. 18, s. 67; 1989, c. 5, s. 113; 1997, c. 85, s. 148; 1999, c. 86, s. 99; 2000, c. 39, s. 68; 2001, c. 7, s. 107; 2001, c. 53, s. 131; 2003, c. 9, s. 97; 2004, c. 21, s. 197; 2005, c. 38, s. 168.