Versions of s. 125.4(1), definition “qualified labour expenditure”, para (b)

I-3.3 — Income Tax Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2014-12-16 to present available View Source

the amount determined by the formula A - B where A is ~~48%~~60% of the amount by which the total of all amounts each of which is an expenditure by the corporation in respect of the production that is included in the cost ~~or,~~to, or in the case of depreciable ~~property,~~property the capital cost toto, the corporation or any other person or partnership of the production at the end of the taxation year, exceeds the total of all amounts each of which is an amount of assistance in respect of that cost that, at the time of the filing of its return of income for the year, the corporation or any other person or partnership has received, is entitled to receive or can reasonably be expected to receive, that has not been repaid before that time pursuant to a legal obligation to do so (and that does not otherwise reduce that cost), and B is the total of all amounts each of which is the qualified labour expenditure of the corporation in respect of the production for a preceding taxation year before the end of which the principal filming or taping of the production began. (dépense de main-d’oeuvre admissible)

Full text

the amount determined by the formula A - B where A is 60% of the amount by which the total of all amounts each of which is an expenditure by the corporation in respect of the production that is included in the cost to, or in the case of depreciable property the capital cost to, the corporation or any other person or partnership of the production at the end of the taxation year, exceeds the total of all amounts each of which is an amount of assistance in respect of that cost that, at the time of the filing of its return of income for the year, the corporation or any other person or partnership has received, is entitled to receive or can reasonably be expected to receive, that has not been repaid before that time pursuant to a legal obligation to do so (and that does not otherwise reduce that cost), and B is the total of all amounts each of which is the qualified labour expenditure of the corporation in respect of the production for a preceding taxation year before the end of which the principal filming or taping of the production began. (dépense de main-d’oeuvre admissible)
2004-08-31 to 2014-12-16 View Source

the amount determined by the formula A - B where A is 48% of the amount by which the cost or, in the case of depreciable property, the capital cost to the corporation of the production at the end of the year, exceeds the total of all amounts each of which is an amount of assistance in respect of that cost that, at the time of the filing of its return of income for the year, the corporation or any other person or partnership has received, is entitled to receive or can reasonably be expected to receive, that has not been repaid before that time pursuant to a legal obligation to do so (and that does not otherwise reduce that cost), and B is the total of all amounts each of which is the qualified labour expenditure of the corporation in respect of the production for a preceding taxation year before the end of which the principal filming or taping of the production began.