Versions of s. 172.1(1), definition “provincial factor”

E-15 — Excise 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.

2017-12-14 to present available View Source

provincial factor in respect of a pension plan and a participating province, for a fiscal year of a person that is a participating employer of the pension plan, means the amount (expressed as a percentage) determined by the formula A × B where A is the tax rate for the participating province on the last day of the fiscal year; and B is if the person made contributions to the pension plan during the fiscal year that may be deducted by the person under paragraph 20(1)(q) of the Income Tax Act in computing its income (in this paragraph referred to as “pension contributions”) and the number of active members of the pension plan who were employees of the person on the particular day that is the last day of the last calendar year ending on or before the last day of the fiscal year is greater than zero, the amount determined by the formula[(C/D) + (E/F)]/2 where C is the total of all pension contributions made to the pension plan by the person during the fiscal year in respect of employees of the person who were resident in the participating province on the particular day, D is the total of all pension contributions made to the pension plan by the person during the fiscal year in respect of employees of the person, E is the number of active members of the pension plan who were, on the particular day, employees of the person and resident in the participating province, and F is the number of active members of the pension plan who were, on the particular day, employees of the person; if paragraph (a) does not apply and the number of active members of the pension plan who were employees of the person on the particular day that is the last day of the last calendar year ending on or before the last day of the fiscal year is greater than zero, the amount determined by the formula G/H where G is the number of active members of the pension plan who were, on the particular day, employees of the person and resident in the participating province, and H is the number of active members of the pension plan who were, on the particular day, employees of the person; or in any other case, zero. (facteur provincial)

Full text

provincial factor in respect of a pension plan and a participating province, for a fiscal year of a person that is a participating employer of the pension plan, means the amount (expressed as a percentage) determined by the formula A × B where A is the tax rate for the participating province on the last day of the fiscal year; and B is if the person made contributions to the pension plan during the fiscal year that may be deducted by the person under paragraph 20(1)(q) of the Income Tax Act in computing its income (in this paragraph referred to as “pension contributions”) and the number of active members of the pension plan who were employees of the person on the particular day that is the last day of the last calendar year ending on or before the last day of the fiscal year is greater than zero, the amount determined by the formula[(C/D) + (E/F)]/2 where C is the total of all pension contributions made to the pension plan by the person during the fiscal year in respect of employees of the person who were resident in the participating province on the particular day, D is the total of all pension contributions made to the pension plan by the person during the fiscal year in respect of employees of the person, E is the number of active members of the pension plan who were, on the particular day, employees of the person and resident in the participating province, and F is the number of active members of the pension plan who were, on the particular day, employees of the person; if paragraph (a) does not apply and the number of active members of the pension plan who were employees of the person on the particular day that is the last day of the last calendar year ending on or before the last day of the fiscal year is greater than zero, the amount determined by the formula G/H where G is the number of active members of the pension plan who were, on the particular day, employees of the person and resident in the participating province, and H is the number of active members of the pension plan who were, on the particular day, employees of the person; or in any other case, zero. (facteur provincial)
2010-07-12 to 2017-12-14 View Source

provincial factor in respect of a pension plan and a participating province, for a fiscal year of a person that is a participating employer of the pension plan, means the amount (expressed as a percentage) determined by the formula A × B where A is the tax rate for the participating province on the last day of the fiscal year; and B is if the person made contributions to the pension plan during the fiscal year that may be deducted by the person under paragraph 20(1)(q) of the Income Tax Act in computing its income (in this paragraph referred to as “pension contributions”) and the number of active members of the pension plan who were employees of the person on the particular day that is the last day of the last calendar year ending on or before the last day of the fiscal year is greater than zero, the amount determined by the formula[(C/D) + (E/F)]/2 where C is the total of all pension contributions made to the pension plan by the person during the fiscal year in respect of employees of the person who were resident in the participating province on the particular day, D is the total of all pension contributions made to the pension plan by the person during the fiscal year in respect of employees of the person, E is the number of active members of the pension plan who were, on the particular day, employees of the person and resident in the participating province, and F is the number of active members of the pension plan who were, on the particular day, employees of the person; if paragraph (a) does not apply and the number of active members of the pension plan who were employees of the person on the particular day that is the last day of the last calendar year ending on or before the last day of the fiscal year is greater than zero, the amount determined by the formula G/H where G is the number of active members of the pension plan who were, on the particular day, employees of the person and resident in the participating province, and H is the number of active members of the pension plan who were, on the particular day, employees of the person; or in any other case, zero.