VIII, s. 57, c. 28, s. 281996, c. 11, s. 951997, c. 25, s. 281998, c. 19, s. 271999, c. 22, s. 372001, c. 17, s. 982002, c. 9, s. 362003, c. 15, s. 762005, c. 19, s. 25, c. 34, ss. 80, 812007, c. 2, s. 232011, c. 24, s. 302013, c. 34, s. 252, c. 40, ss. 236, 2382016, c. 7, s. 162017, c. 20, s. 19, c. 33, s. 45
118.61(1)In this section, an individual’s unused tuition, textbook and education tax credits at the end of a taxation year is the amount determined by the formulaA + (B - C) - (D + E)whereAis the amount determined under this subsection in respect of the individual at the end of the preceding taxation year;Bis the total of all amounts each of which may be deducted under section 118.5 in computing the individual’s tax payable under this Part for the year;Cis the lesser of the value of B and the amount that would be the individual’s tax payable under this Part for the year if no amount were deductible under this Division (other than an amount deductible under this section and any of sections 118 to 118.07, 118.3 and 118.7);Dis the amount that the individual may deduct under subsection (2) for the year; andEis the tuition tax credit transferred for the year by the individual to the individual’s spouse, common-law partner, parent or grandparent.Marginal note:Deduction of carryforward(2)For the purpose of computing an individual’s tax payable under this Part for a taxation year, there may be deducted the lesser of(a)the amount determined under subsection (1) in respect of the individual at the end of the preceding taxation year, and(b)the amount that would be the individual’s tax payable under this Part for the year if no amount were deductible under this Division (other than an amount deductible under this section and any of sections 118 to 118.07, 118.3 and 118.7).(3)[Repealed, 2007, c. 2, s. 24]Marginal note:Change of appropriate percentage(4)For the purpose of determining the amount that may be deducted under subsection (2) in computing an individual’s tax payable for a taxation year, in circumstances where the appropriate percentage for the taxation year is different from the appropriate percentage for the preceding taxation year, the individual’s unused tuition, textbook and education tax credits at the end of the preceding taxation year is deemed to be the amount determined by the formulaA/B × CwhereAis the appropriate percentage for the current taxation year;Bis the appropriate percentage for the preceding taxation year; andCis the amount that would be the individual’s unused tuition, textbook and education tax credits at the end of the preceding taxation year if this section were read without reference to this subsection.
(a)the amount determined under subsection (1) in respect of the individual at the end of the preceding taxation year, and(b)the amount that would be the individual’s tax payable under this Part for the year if no amount were deductible under this Division (other than an amount deductible under this section and any of sections 118 to 118.07, 118.3 and 118.7).
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]1998, c. 19, s. 282000, c. 12, s. 1422001, c. 17, s. 992006, c. 4, s. 652007, c. 2, s. 242009, c. 31, s. 62011, c. 24, s. 312014, c. 20, s. 122016, c. 7, s. 17
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]1999, c. 22, s. 382014, c. 39, s. 35
(a)the total of all amounts each of which is an amount payable by the individual as an employee’s premium or a self-employment premium for the year under theEmployment Insurance Act, not exceeding the maximum amount of such premiums payable by the individual for the year under that Act,(a.1)the total of all amounts each of which is an amount payable by the individual as an employee’s premium for the year under theAct respecting parental insurance, R.S.Q., c