C-8.3 - Act respecting international financial centres

Section 73 Disposition versions

2022-06-08

73. (Repealed).

1999, c. 86, s. 73; 2004, c. 21, s. 26; 2005, c. 23, s. 18; 2006, c. 13, s. 12; 2011, c. 1, s. 8; 2022, c. 23, s. 27.

2011-02-17

73. For the purposes of section 71, any of the following particular periods, except any part of the particular period that is covered by a qualification certificate issued to a particular corporation, in respect of an individual, certifying that the individual qualifies as an eligible employee for the purposes of Division II.6.0.1.8 of Chapter III.1 of Title III of Book IX of Part I of the Taxation Act (chapter I-3), is a qualifying period in respect of the individual in relation to the particular corporation or a particular partnership:

(1)  the particular period, for which the conditions of the second paragraph are met, that begins on the day provided for in the third paragraph and that ends on the earliest of

(a)  the day preceding the day on which any of the conditions of the second paragraph ceases to be met,

(b)  31 December 2012, if the particular corporation did not make an election under the fourth paragraph of section 1029.8.36.166.62 of the Taxation Act, and

(c)  31 December 2013; or

(2)  a particular period that ends before 30 March 2010 and for which the conditions of the second paragraph are met.

The conditions to which subparagraphs 1 and 2 of the first paragraph refer are as follows:

(1)  the individual worked throughout the particular period exclusively or almost exclusively

(a)  for the particular corporation or partnership, or

(b)  for a group of corporations or partnerships each of which was operating an international financial centre, including the particular corporation or partnership, if all the activities of those international financial centres are conducted in one place within the urban agglomeration of Montréal;

(2)  the whole of the particular period is covered by a valid certificate which was issued in respect of the individual in accordance with section 20 to each corporation or partnership that is the particular corporation or the particular partnership or, if applicable, any of the other corporations or partnerships referred to in subparagraph b of subparagraph 1, in relation to the individual’s employment with the corporation or partnership; and

(3)  the business to which the certificate referred to in subparagraph 2 relates is, throughout the particular period, an international financial centre of the corporation or partnership referred to in that subparagraph.

The day to which subparagraph 1 of the first paragraph refers is

(1)  if the individual is an employee described in subparagraph 1 of the second paragraph of section 15, the day on which the individual begins to hold the employment referred to in that subparagraph 1;

(2)  if the individual is an employee described in subparagraph 2 of the second paragraph of section 15, the day that follows the day on which the individual’s reference period established under section 69 ends; and

(3)  in any other case, 30 March 2010.

1999, c. 86, s. 73; 2004, c. 21, s. 26; 2005, c. 23, s. 18; 2006, c. 13, s. 12; 2011, c. 1, s. 8.

2006-06-13

73. For the purposes of section 71, a particular period included in a particular calendar year and in respect of which the following conditions are satisfied, except any part of the particular period that is covered by a qualification certificate issued to a particular corporation or partnership in respect of an individual, certifying that the individual qualifies as an eligible employee for the purposes of Division II.6.0.1.8 of Chapter III.1 of Title III of Book IX of Part I of the Taxation Act (chapter I‐3), is a qualifying period in respect of the individual in relation to the particular corporation or partnership:

(1)  the individual worked throughout the particular period exclusively or almost exclusively

(a)  for the particular corporation or partnership, or

(b)  for a group of corporations or partnerships each of which was operating an international financial centre, including the particular corporation or partnership, where all the activities of those international financial centres are conducted in one place within the urban agglomeration of Montréal;

(2)  the individual held a valid certificate covering the whole of the particular period which was issued in respect of the individual in accordance with section 20 to each corporation or partnership that is the particular corporation or the particular partnership or, where applicable, any of the other corporations or partnerships referred to in subparagraph b of paragraph 1, in relation to the individual’s employment with the corporation or partnership; and

(3)  the business to which the certificate referred to in paragraph 2 relates is, throughout the particular period, an international financial centre of the corporation or partnership referred to therein.

1999, c. 86, s. 73; 2004, c. 21, s. 26; 2005, c. 23, s. 18; 2006, c. 13, s. 12.

2005-06-17

73. For the purposes of section 71, a particular period included in a particular calendar year and in respect of which the following conditions are satisfied is a qualifying period in respect of an individual in relation to a particular corporation or partnership :

(1)  the individual worked throughout the particular period exclusively or almost exclusively

(a)  for the particular corporation or partnership, or

(b)  for a group of corporations or partnerships each of which was operating an international financial centre, including the particular corporation or partnership, where all the activities of those international financial centres are conducted in one place within the territory of Ville de Montréal ;

(2)  the individual held a valid certificate covering the whole of the particular period which was issued in respect of the individual in accordance with section 20 to each corporation or partnership that is the particular corporation or the particular partnership or, where applicable, any of the other corporations or partnerships referred to in subparagraph b of paragraph 1, in relation to the individual’s employment with the corporation or partnership; and

(3)  the business to which the certificate referred to in paragraph 2 relates is, throughout the particular period, an international financial centre of the corporation or partnership referred to therein.

1999, c. 86, s. 73; 2004, c. 21, s. 26; 2005, c. 23, s. 18.

2004-11-03

73. For the purposes of section 71, a particular period included in a particular calendar year and in respect of which the following conditions are satisfied is a qualifying period in respect of an individual in relation to a particular corporation or partnership :

(1)  the individual worked throughout the particular period exclusively or almost exclusively

(a)  for the particular corporation or partnership, or

(b)  for a group of corporations or partnerships each of which was operating an international financial centre, including the particular corporation or partnership, where all the activities of those international financial centres are conducted in one place within the territory of Ville de Montréal ;

(2)  the individual held a valid certificate covering the whole of the particular period which was issued in respect of the individual to each corporation or partnership that is the particular corporation or the particular partnership or, where applicable, any of the other corporations or partnerships referred to in subparagraph b of paragraph 1, in relation to the individual’s employment with the corporation or partnership,

(a)  pursuant to section 20, or

(b)  pursuant to section 21, in the case of an individual

i.  who was an employee of the corporation or partnership from 31 March 1998 to the end of the particular period,

ii.  who would have been entitled, if the provisions of Title VII.2 of Book IV of Part I of the Taxation Act (chapter I‐3) had read for the taxation year 1998 as they read for the taxation year 1997, to a deduction under section 737.16.1 of that Act for the taxation year 1998 in relation to the individual’s remuneration from that employment for a period including 31 March 1998, and

iii.  whose duties with that corporation or partnership were devoted, at all times from 1 April 1998 to 31 December 1998, in a proportion of at least 75 %, to the operations of the international financial centre of that corporation or partnership in the course of which the individual was employed on 31 March 1998, and

(3)  the business to which the certificate referred to in paragraph 2 relates is, throughout the particular period, an international financial centre of the corporation or partnership referred to therein.

1999, c. 86, s. 73; 2004, c. 21, s. 26.

1999-12-20

73. For the purposes of section 71, a particular period included in a particular calendar year and in respect of which the following conditions are satisfied is a qualifying period in respect of an individual in relation to a particular corporation or partnership :

(1)  the individual worked throughout the particular period exclusively or almost exclusively

(a)  for the particular corporation or partnership, or

(b)  for a group of corporations or partnerships each of which was operating an international financial centre, including the particular corporation or partnership, where all the activities of those international financial centres are conducted in one place within the territory of Ville de Montréal ;

(2)  the individual held a valid certificate covering the whole of the particular period which was issued in respect of the individual to each corporation or partnership that is the particular corporation or the particular partnership or, where applicable, any of the other corporations or partnerships referred to in subparagraph b of paragraph 1, in relation to the individual’s employment with the corporation or partnership,

(a)  pursuant to section 20, or

(b)  pursuant to section 21, in the case of an individual

i.  who was in the employ of the corporation or partnership from 31 March 1998 to the end of the particular period,

ii.  who would have been entitled, if the provisions of Title VII.2 of Book IV of Part I of the Taxation Act (chapter I‐3) had read for the taxation year 1998 as they read for the taxation year 1997, to a deduction under section 737.16.1 of that Act for the taxation year 1998 in relation to the individual’s remuneration from that employment for a period including 31 March 1998, and

iii.  whose duties with that corporation or partnership were devoted, at all times from 1 April 1998 to 31 December 1998, in a proportion of at least 75 %, to the operations of the international financial centre of that corporation or partnership in the course of which the individual was employed on 31 March 1998, and

(3)  the business to which the certificate referred to in paragraph 2 relates is, throughout the particular period, an international financial centre of the corporation or partnership referred to therein.

1999, c. 86, s. 73.