Income Tax Small Business Tax Holiday Regulation

B.C. Reg. 346/96
O.C. 1403/96

Deposited December 6, 1996
effective May 1, 1996

This archived regulation consolidation is current to April 21, 2006 and includes changes enacted and in force by that date. For the most current information, click here.

Income Tax Act

Income Tax Small Business
Tax Holiday Regulation

Certain professional corporations ineligible

1A corporation that carries on a business that provides one or more of the following services is ineligible for a deduction under section 17 of the Act:

(a)legal or notary public services;

(b)professional services of a medical practitioner;

(c)professional services of a health practitioner within the meaning of the Medicare Protection Act;

(d)veterinarian services;

(e)professional services of an accountant or accounting services.

[Provisions relevant to the enactment of this regulation: Income Tax Act, R.S.B.C. 1996, c. 215: section 17 (5); see also Income Tax Amendment Act, 1996: section 7 regarding retroactive effective date]