Consolidated Statutes and Regulations Consolidated Statutes Consolidated Regulations Annual Statutes and Regulations Annual Statutes Annual Regulations Additional information Québec Official Publisher What’s new? Information note Policy of the Minister of Justice Laws: Amendments Laws: Provisions not in force Laws: Provisions brought into force Annual Statutes: PDF versions since 1996 Regulations: Amendments Annual Regulations: PDF versions since 1996 Court Decisions

I-3 - Taxation Act

Section 851.22.4
Disposition versions

Full text
851.22.4. Subject to sections 851.22.5 and 851.22.5.1, where a taxpayer that is, in a taxation year, a financial institution holds a specified debt obligation at any time in the year, the following rules apply:
(a)  there shall be included in computing the taxpayer’s income for the year the amount prescribed in respect of the obligation;
(b)  there shall be deducted in computing the taxpayer’s income for the year the amount prescribed in respect of the obligation; and
(c)  except as provided by this chapter, paragraphs d and i of section 87 and sections 140 and 141, no amount shall be included or deducted in respect of payments under the obligation, other than fees and similar amounts, in computing the taxpayer’s income for the year.
1996, c. 39, s. 235; 2001, c. 7, s. 118.
© Gouvernement du Québec