Versions of s. 127.3(2), definition “scientific research and experimental development tax credit”

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.

2013-06-26 to present available View Source

scientific research and experimental development tax credit of a taxpayer for a taxation year means the amount determined by the formula A - B where A is the total of all amounts each of which is an amount equal to where the taxpayer is a corporation, 50%, or where the taxpayer is an individual other than a trust, 34%of an amount designated by a corporation under subsection 194(4) in respect of a share acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder thereof, a bond, debenture, bill, note, ~~mortgage~~mortgage, hypothecary claim or similar obligation (in this section referred to as a “debt obligation”) acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder of that debt obligation, or a right acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to have acquired that right, and B is the total of all amounts required by subsection 127.3(5) to be deducted in computing the taxpayer’s scientific research and experimental development tax credit for the year; (crédit d’impôt pour des activités de recherche scientifique et de développement expérimental)

Full text

scientific research and experimental development tax credit of a taxpayer for a taxation year means the amount determined by the formula A - B where A is the total of all amounts each of which is an amount equal to where the taxpayer is a corporation, 50%, or where the taxpayer is an individual other than a trust, 34%of an amount designated by a corporation under subsection 194(4) in respect of a share acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder thereof, a bond, debenture, bill, note, mortgage, hypothecary claim or similar obligation (in this section referred to as a “debt obligation”) acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder of that debt obligation, or a right acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to have acquired that right, and B is the total of all amounts required by subsection 127.3(5) to be deducted in computing the taxpayer’s scientific research and experimental development tax credit for the year; (crédit d’impôt pour des activités de recherche scientifique et de développement expérimental)
2004-08-31 to 2013-06-26 View Source

scientific research and experimental development tax credit of a taxpayer for a taxation year means the amount determined by the formula A - B where A is the total of all amounts each of which is an amount equal to where the taxpayer is a corporation, 50%, or where the taxpayer is an individual other than a trust, 34%of an amount designated by a corporation under subsection 194(4) in respect of a share acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder thereof, a bond, debenture, bill, note, mortgage or similar obligation (in this section referred to as a “debt obligation”) acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder of that debt obligation, or a right acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to have acquired that right, and B is the total of all amounts required by subsection 127.3(5) to be deducted in computing the taxpayer’s scientific research and experimental development tax credit for the year;