Income Tax Act — I-3.3 127.3
Scientific research and experimental development tax credit 127.3 (1) There may be deducted from the tax otherwise payable under this Part by a taxpayer for a taxation year an amount not exceeding the total of the taxpayer’s (a) scientific research and experimental development tax credit for the year, and (b) unused scientific research and experimental development tax credit for the taxation year immediately following the year. Definitions (2) In this section, 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 (a) where the taxpayer is a corporation, 50%, or (b) 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 (c) 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, (d) 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 (e) 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 ) unused scientific research and experimental development tax credit of a taxpayer for a taxation year means the amount determined by the formula A - (B + C) where A is the taxpayer’s scientific research and experimental development tax credit for the year, B is the taxpayer’s tax otherwise payable under this Part for the year or, where Division E.1 is applicable to the taxpayer for the year, the amount, if any, by which the taxpayer’s tax otherwise payable under this Part for the year exceeds the taxpayer’s minimum amount for the year determined under section 127.51, as the case may be, and C is the taxpayer’s refundable Part VIII tax on hand at the end of the year. ( partie inutilisée du crédit d’impôt pour des activités de recherche scientifique et de développement expérimental ) Trust (3) For the purposes of this section and section 53, where a taxpayer, other than a broker or dealer in securities, is a beneficiary under a trust and an amount is designated by a corporation under subsection 194(4) in respect of a share, debt obligation or right acquired by the trust in a taxation year of the trust where the trust is the first person, other than a broker or dealer in securities, to be a registered holder of the share or debt obligation or to have acquired the right, as the case may be, (a) the trust may, in its return of income for that year, specify such portion of that amount as may, having regard to all the circumstances (including the terms and conditions of the trust arrangement), reasonably be considered to be attributable to the taxpayer and as was not specified by the trust in respect of any other beneficiary under that trust; and (b) the portion specified pursuant to paragraph 127.3(3)(a) shall be deemed to be an amount designated on the last day of that year by the corporation under subsection 194(4) in respect of a share, debt obligation or right, as the case may be, acquired by the taxpayer on that day where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder of the share or debt obligation or to have acquired the right, as the case may be. Exclusion of certain trusts (3.1) For the purposes of subsec