S-25.1 - Act respecting the sociétés d’entraide économique

Section 210 Disposition versions

1991-06-20

210. (Repealed).

1981, c. 31, s. 210; 1982, c. 15, s. 121; 1991, c. 25, s. 184.

1982-04-08

210. An individual, other than a trust, who is resident in Québec on the last day of the taxation year 1982 may deduct, for that taxation year, in the computation of his taxable income for the purposes of Part I of the Taxation Act (chapter I-3), the aggregate of

(1)  the cost, to him, of the shares of the share capital of a société d’entraide économique that he has received upon the continuance of a union as a société d’entraide économique governed by Title II; and

(2)  the par value of a share of a société d’entraide économique that he acquires during the taxation year 1982 and that is derived from a registered retirement savings plan of which he is the beneficiary or the subscriber, a registered home ownership savings plan, a deferred profit-sharing plan or a retirement plan of which he is the beneficiary, if that share has been received by such a plan upon the continuance.

However, the amount of such deduction must not exceed, with the deduction provided for in section 965.7 of the Taxation Act, the excess amount contemplated in the second paragraph of the said section 965.7.

1981, c. 31, s. 210; 1982, c. 15, s. 121.

1982-01-13

210. Every share of the share capital of a société d’entraide économique that an individual referred to in section 965.7 of the Taxation Act (chapter I-3) received upon the continuance of a union as a société d’entraide économique governed by Title II, is deductible for the taxation year 1982, for the purposes of the deduction referred to in the said section 965.7.

The individual referred to in the said section 965.7 who acquires, in the taxation year 1982, shares of a société d’entraide économique from a registered retirement savings plan of which he is the beneficiary or subscriber, or from a registered home ownership savings plan or deferred profit-sharing plan or from a retirement plan of which he is the beneficiary, may also avail himself, for that taxation year, of the deduction referred to in section 965.7 of the said Act; the shares are deemed, for deduction purposes, to have been acquired at par value.

1981, c. 31, s. 210.