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I-3 - Taxation Act
Section 776.1.5.0.11
Disposition versions
776.1.5.0.11. An individual, other than a trust, who is resident in Québec at the end of 31 December of a particular taxation year and who is not a dealer acting as an intermediary or firm underwriter may deduct from the individual’s tax otherwise payable for the particular year under this Part an amount equal to the product obtained by multiplying the percentage specified in the second paragraph by the aggregate of the amounts paid by the individual in an acquisition period beginning in the particular year for the purchase, as first purchaser, of a class “A” share of the capital stock of the corporation governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1).
The percentage to which the first paragraph refers is
(a) 35%, if the acquisition period referred to in that paragraph is described in any of subparagraphs a, b and g of the first paragraph of section 776.1.5.0.10.1;
(b) 50%, if the acquisition period referred to in that paragraph is described in subparagraph c or d of the first paragraph of section 776.1.5.0.10.1;
(c) 45%, if the acquisition period referred to in that paragraph is described in subparagraph e of the first paragraph of section 776.1.5.0.10.1;
(d) 40%, if the acquisition period referred to in that paragraph is described in subparagraph f of the first paragraph of section 776.1.5.0.10.1; and
(e) 30%, if the acquisition period referred to in that paragraph is described in subparagraph h of the first paragraph of section 776.1.5.0.10.1.
The aggregate referred to in the first paragraph may not exceed,
(a) if the acquisition period referred to in that paragraph is described in subparagraph a or b of the first paragraph of section 776.1.5.0.10.1, $2,500;
(b) if the acquisition period referred to in that paragraph is described in subparagraph c of the first paragraph of section 776.1.5.0.10.1, the amount by which $5,000 exceeds the lesser of $2,500 and the aggregate of the amounts paid by the individual in the preceding acquisition period for the purchase, as first purchaser, of a share described in the first paragraph; or
(c) if the acquisition period referred to in that paragraph is described in any of subparagraphs d to h of the first paragraph of section 776.1.5.0.10.1, $5,000.
776.1.5.0.11. An individual, other than a trust, who is resident in Québec at the end of 31 December of a particular taxation year and who is not a dealer acting as an intermediary or firm underwriter may deduct from the individual’s tax otherwise payable for the particular year under this Part an amount equal to the product obtained by multiplying the percentage specified in the second paragraph by the aggregate of the amounts paid by the individual in an acquisition period beginning in the particular year for the purchase, as first purchaser, of a class “A” share of the capital stock of the corporation governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1).
The percentage to which the first paragraph refers is
(a) 35%, if the acquisition period referred to in that paragraph is described in any of subparagraphs a, b and g of the first paragraph of section 776.1.5.0.10.1;
(b) 50%, if the acquisition period referred to in that paragraph is described in subparagraph c or d of the first paragraph of section 776.1.5.0.10.1;
(c) 45%, if the acquisition period referred to in that paragraph is described in subparagraph e of the first paragraph of section 776.1.5.0.10.1; and
(d) 40%, if the acquisition period referred to in that paragraph is described in subparagraph f of the first paragraph of section 776.1.5.0.10.1.
The aggregate referred to in the first paragraph may not exceed,
(a) if the acquisition period referred to in that paragraph is described in subparagraph a or b of the first paragraph of section 776.1.5.0.10.1, $2,500;
(b) if the acquisition period referred to in that paragraph is described in subparagraph c of the first paragraph of section 776.1.5.0.10.1, the amount by which $5,000 exceeds the lesser of $2,500 and the aggregate of the amounts paid by the individual in the preceding acquisition period for the purchase, as first purchaser, of a share described in the first paragraph; or
(c) if the acquisition period referred to in that paragraph is described in any of subparagraphs d to g of the first paragraph of section 776.1.5.0.10.1, $5,000.
776.1.5.0.11. An individual, other than a trust, who is resident in Québec at the end of 31 December of a particular taxation year and who is not a dealer acting as an intermediary or as a firm underwriter may deduct from the individual’s tax otherwise payable for the particular year under this Part an amount equal to the product obtained by multiplying the percentage specified in the second paragraph by the aggregate of the amounts paid by the individual in an acquisition period beginning in the particular year for the purchase, as first purchaser, of a share of the capital stock of the entity governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1).
The percentage to which the first paragraph refers is
(a) 35%, if the acquisition period referred to in that paragraph is described in subparagraph a or b of the first paragraph of section 776.1.5.0.10.1;
(b) 50%, if the acquisition period referred to in that paragraph is described in subparagraph c or d of the first paragraph of section 776.1.5.0.10.1;
(c) 45%, if the acquisition period referred to in that paragraph is described in subparagraph e of the first paragraph of section 776.1.5.0.10.1; and
(d) 40%, if the acquisition period referred to in that paragraph is described in subparagraph f of the first paragraph of section 776.1.5.0.10.1.
The aggregate referred to in the first paragraph may not exceed,
(a) if the acquisition period referred to in that paragraph is described in subparagraph a or b of the first paragraph of section 776.1.5.0.10.1, $2,500;
(b) if the acquisition period referred to in that paragraph is described in subparagraph c of the first paragraph of section 776.1.5.0.10.1, the amount by which $5,000 exceeds the lesser of $2,500 and the aggregate of the amounts paid by the individual in the preceding acquisition period for the purchase, as first purchaser, of a share described in the first paragraph; or
(c) if the acquisition period referred to in that paragraph is described in any of subparagraphs d to f of the first paragraph of section 776.1.5.0.10.1, $5,000.
776.1.5.0.11. An individual, other than a trust, who is resident in Québec at the end of 31 December of a particular taxation year and who is not a dealer acting as an intermediary or as a firm underwriter may deduct from the individual’s tax otherwise payable for the particular year under this Part an amount equal to the product obtained by multiplying the percentage specified in the second paragraph by the aggregate of the amounts paid by the individual in an acquisition period beginning in the particular year for the purchase, as first purchaser, of a share of the capital stock of the entity governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1).
The percentage to which the first paragraph refers is
(a) 35%, if the acquisition period referred to in that paragraph is described in subparagraph a or b of the first paragraph of section 776.1.5.0.10.1;
(b) 50%, if the acquisition period referred to in that paragraph is described in subparagraph c or d of the first paragraph of section 776.1.5.0.10.1; and
(c) 45%, if the acquisition period referred to in that paragraph is described in subparagraph e of the first paragraph of section 776.1.5.0.10.1.
The aggregate referred to in the first paragraph may not exceed,
(a) if the acquisition period referred to in that paragraph is described in subparagraph a or b of the first paragraph of section 776.1.5.0.10.1, $2,500;
(b) if the acquisition period referred to in that paragraph is described in subparagraph c of the first paragraph of section 776.1.5.0.10.1, the amount by which $5,000 exceeds the lesser of $2,500 and the aggregate of the amounts paid by the individual in the preceding acquisition period for the purchase, as first purchaser, of a share described in the first paragraph; or
(c) if the acquisition period referred to in that paragraph is described in subparagraph d or e of the first paragraph of section 776.1.5.0.10.1, $5,000.
776.1.5.0.11. An individual, other than a trust, who is resident in Québec at the end of 31 December of a particular taxation year and who is not a dealer acting as an intermediary or as a firm underwriter may deduct from the individual’s tax otherwise payable for the particular year under this Part an amount equal to the product obtained by multiplying the percentage specified in the second paragraph by the aggregate of the amounts paid by the individual in an acquisition period beginning in the particular year for the purchase, as first purchaser, of a share of the capital stock of the entity governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1).
The percentage to which the first paragraph refers is 35%, if the acquisition period referred to in that paragraph is described in subparagraph a or b of the first paragraph of section 776.1.5.0.10.1, and 50%, in any other case.
The aggregate referred to in the first paragraph may not exceed,
(a) if the acquisition period referred to in that paragraph is described in subparagraph a or b of the first paragraph of section 776.1.5.0.10.1, $2,500;
(b) if the acquisition period referred to in that paragraph is described in subparagraph c of the first paragraph of section 776.1.5.0.10.1, the amount by which $5,000 exceeds the lesser of $2,500 and the aggregate of the amounts paid by the individual in the preceding acquisition period for the purchase, as first purchaser, of a share described in the first paragraph; or
(c) if the acquisition period referred to in that paragraph is described in subparagraph d of the first paragraph of section 776.1.5.0.10.1, $5,000.
776.1.5.0.11. An individual, other than a trust, who is resident in Québec at the end of 31 December of a particular taxation year and who is not a dealer acting as an intermediary or as a firm underwriter may deduct from the individual’s tax otherwise payable for the particular year under this Part an amount equal to the product obtained by multiplying the percentage specified in the fifth paragraph by the amount paid by the individual in the period beginning on 1 March of the particular year and ending on the last day of February of the year following the particular year, but before 1 March 2011, for the purchase, as first purchaser, of a share of the capital stock of the corporation governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1).
If the period described in the first paragraph ends on a statutory holiday, the period is deemed to end on the day immediately before the statutory holiday.
If the period described in the first paragraph ends on 28 February 2005, that paragraph is to be read as if “1 March of the particular year” was replaced by “31 March of the particular year”.
If the period described in the first paragraph ends on 28 February 2007, that paragraph is to be read as if “1 March of the particular year” was replaced by “24 March of the particular year”.
The percentage to which the first paragraph refers is 35%, if the period referred to in that paragraph begins after 23 March 2006, and 50%, in any other case.
776.1.5.0.11. An individual, other than a trust, who is resident in Québec at the end of 31 December of a particular taxation year and who is not a dealer acting as an intermediary or as a firm underwriter may deduct from the individual’s tax otherwise payable for the particular year under this Part an amount equal to 50% of the amount paid by the individual in the period beginning on 1 March of the particular year and ending on the last day of February of the year following the particular year, but before 1 March 2011, for the purchase, as first purchaser, of a share of the capital stock of the corporation governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1).
Where the period referred to in the first paragraph ends on a holiday, the period is deemed to end on the day immediately before the holiday.
Where the period referred to in the first paragraph ends on 28 February 2005, that paragraph shall be read with the reference to "1 March of the particular year" replaced by a reference to "31 March of the particular year".
