I-3 - Taxation Act

Section 1029.8.36.166.44 Disposition versions

2022-06-08

1029.8.36.166.44. A qualified corporation for a taxation year that is a member of a qualified partnership at the end of a particular fiscal period of the partnership that ends in the year and that encloses the documents referred to in the seventh paragraph with the fiscal return it is required to file for the year under section 1000, is deemed, subject to the fourth paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the aggregate of all amounts each of which is, in relation to a qualified property,

(a)  if the paid-up capital attributed to the qualified partnership for the particular fiscal period, determined in accordance with section 1029.8.36.59.49.1 as if the partnership were a corporation whose taxation year corresponds to its fiscal period, is less than $500,000,000, the total of

i.  the aggregate of all amounts each of which is the product obtained by multiplying the corporation’s share of a portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, such portion being referred to in section 1029.8.36.166.45, by the rate determined for the year, under that section, in relation to the corporation’s share of that portion of expenses, to the extent that the aggregate of those portions of expenses (in subparagraphs ii and iii referred to as the “particular eligible expenses”) is established subject to the second paragraph and does not include the portion, determined by the qualified corporation, of the qualified partnership’s eligible expenses for the particular fiscal period that exceeds the balance of the partnership’s cumulative eligible expense limit for the particular fiscal period, or the portion, determined by the qualified corporation, of such expenses incurred by the partnership in the particular fiscal period as a party to a joint venture that exceeds the partnership’s share for the particular fiscal period of the balance of the joint venture’s cumulative eligible expense limit,

ii.  the product obtained by multiplying the corporation’s share of the portion of the particular eligible expenses for the particular fiscal period, in respect of the property, that are expenses eligible for an additional increase of the partnership for that period, by the rate determined for the year, under section 1029.8.36.166.45.1, in relation to the corporation’s share of that portion of the particular eligible expenses, and

iii.  the product obtained by multiplying the corporation’s share of the portion of the particular eligible expenses for the particular fiscal period, in respect of the property, that are expenses eligible for a temporary additional increase of the partnership for that period, by the rate determined for the year, under section 1029.8.36.166.45.2, in relation to the corporation’s share of that portion of the particular eligible expenses; or

(b)  the total of

i.  the product obtained by multiplying by 5% the corporation’s share of the amount by which the portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, that are expenses referred to in subparagraph a or b of the third paragraph of section 1029.8.36.166.45 (such portion being in this subparagraph b referred to as the “specified eligible expenses”), exceeds the portion of those specified eligible expenses that is referred to in subparagraph i of subparagraph a, and

ii.  the product obtained by multiplying by 4% the corporation’s share of the amount by which the portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, that are not specified eligible expenses (such portion being in this subparagraph ii referred to as the “other eligible expenses”), exceeds the portion of those other eligible expenses that is referred to in subparagraph i of subparagraph a.

The total of all amounts each of which is a corporation’s share of eligible expenses that is referred to in subparagraph i of subparagraph a of the first paragraph for a taxation year may not exceed the amount that is the amount by which the balance of its cumulative eligible expense limit for the year exceeds the total of the eligible expenses that would be referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.43 for the year and in respect of which the corporation would be deemed to have paid an amount to the Minister for the year under section 1029.8.36.166.43 if it were read without reference to its third paragraph and if the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 were read without reference to “the amount by which the excluded expense amount relating to the qualified property in respect of the corporation for the particular year is exceeded by” in the portion of its paragraph a before subparagraph i.

The total amount that the corporation is deemed to have paid to the Minister for the year under the first paragraph and, if applicable, under the first paragraph of section 1029.8.36.166.43 must not exceed the corporation’s maximum tax credit amount for the year.

For the purpose of computing the payments that a corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

For the purposes of the first paragraph, a qualified corporation’s share of a particular amount, in relation to a qualified partnership of which it is a member in a fiscal period is equal to the agreed proportion of that amount in respect of the qualified corporation for the fiscal period.

Despite the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and for the purpose of applying this section to a corporation referred to in the first paragraph, the eligible expenses for a particular fiscal period, in respect of a qualified property, of a partnership of which the corporation is a member, or the portion of such eligible expenses referred to in subparagraph a of the first paragraph, do not include

(a)  the expenses that would otherwise be such eligible expenses because of subparagraph ii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that precedes the particular fiscal period and ends in a taxation year for which the corporation was not a qualified corporation; or

(b)  the expenses that would otherwise be such eligible expenses because of subparagraph iii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that ends in a taxation year for which the corporation was not a qualified corporation.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the agreement described in section 1029.8.36.166.40.1, if applicable.

2009, c. 15, s. 303; 2010, c. 25, s. 176; 2012, c. 8, s. 231; 2015, c. 21, s. 463; 2015, c. 24, s. 147; 2020, c. 16, s. 150; 2022, c. 23, s. 110.

2020-09-24

1029.8.36.166.44. A qualified corporation for a taxation year that is a member of a qualified partnership at the end of a particular fiscal period of the partnership that ends in the year and that encloses the documents referred to in the seventh paragraph with the fiscal return it is required to file for the year under section 1000, is deemed, subject to the fourth paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the aggregate of all amounts each of which is, in relation to a qualified property,

(a)  if the paid-up capital attributed to the qualified corporation for the year, determined in accordance with section 737.18.24, is less than $500,000,000, the total of

i.  the aggregate of all amounts each of which is the product obtained by multiplying its share of a portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, such portion being referred to in section 1029.8.36.166.45, by the rate determined for the year, under that section, in relation to its share of that portion of expenses, to the extent that the aggregate of those portions of expenses (in subparagraphs ii and iii referred to as the “particular eligible expenses”) is established subject to the second paragraph and does not include the portion, determined by the qualified corporation, of the qualified partnership’s eligible expenses for the particular fiscal period that exceeds the balance of the partnership’s cumulative eligible expense limit for the particular fiscal period, or the portion, determined by the qualified corporation, of such expenses incurred by the partnership in the particular fiscal period as a party to a joint venture that exceeds the partnership’s share for the particular fiscal period of the balance of the joint venture’s cumulative eligible expense limit,

ii.  the product obtained by multiplying its share of the portion of the particular eligible expenses for the particular fiscal period, in respect of the property, that are expenses eligible for an additional increase of the partnership for that period, by the rate determined for the year, under section 1029.8.36.166.45.1, in relation to its share of that portion of the particular eligible expenses, and

iii.  the product obtained by multiplying its share of the portion of the particular eligible expenses for the particular fiscal period, in respect of the property, that are expenses eligible for a temporary additional increase of the partnership for that period, by the rate determined for the year, under section 1029.8.36.166.45.2, in relation to its share of that portion of the particular eligible expenses; or

(b)  the total of

i.  the product obtained by multiplying by 5% its share of the amount by which the portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, that are expenses referred to in subparagraph a or b of the third paragraph of section 1029.8.36.166.45 (such portion being in this subparagraph b referred to as the “specified eligible expenses”), exceeds the portion of those specified eligible expenses that is referred to in subparagraph i of subparagraph a, and

ii.  the product obtained by multiplying by 4% its share of the amount by which the portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, that are not specified eligible expenses (such portion being in this subparagraph ii referred to as the “other eligible expenses”), exceeds the portion of those other eligible expenses that is referred to in subparagraph i of subparagraph a.

The total of all amounts each of which is a corporation’s share of eligible expenses that is referred to in subparagraph i of subparagraph a of the first paragraph for a taxation year may not exceed the amount that is the amount by which the balance of its cumulative eligible expense limit for the year exceeds the total of the eligible expenses that would be referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.43 for the year and in respect of which the corporation would be deemed to have paid an amount to the Minister for the year under section 1029.8.36.166.43 if it were read without reference to its third paragraph and if the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 were read without reference to “the amount by which the excluded expense amount relating to the qualified property in respect of the corporation for the particular year is exceeded by” in the portion of its paragraph a before subparagraph i.

The total amount that the corporation is deemed to have paid to the Minister for the year under the first paragraph and, if applicable, under the first paragraph of section 1029.8.36.166.43 must not exceed the corporation’s maximum tax credit amount for the year.

For the purpose of computing the payments that a corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

For the purposes of the first paragraph, a qualified corporation’s share of a particular amount, in relation to a qualified partnership of which it is a member in a fiscal period is equal to the agreed proportion of that amount in respect of the qualified corporation for the fiscal period.

Despite the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and for the purpose of applying this section to a corporation referred to in the first paragraph, the eligible expenses for a particular fiscal period, in respect of a qualified property, of a partnership of which the corporation is a member, or the portion of such eligible expenses referred to in subparagraph a of the first paragraph, do not include

(a)  the expenses that would otherwise be such eligible expenses because of subparagraph ii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that precedes the particular fiscal period and ends in a taxation year for which the corporation was not a qualified corporation; or

(b)  the expenses that would otherwise be such eligible expenses because of subparagraph iii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that ends in a taxation year for which the corporation was not a qualified corporation.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the agreement described in section 1029.8.36.166.40.1, if applicable.

2009, c. 15, s. 303; 2010, c. 25, s. 176; 2012, c. 8, s. 231; 2015, c. 21, s. 463; 2015, c. 24, s. 147; 2020, c. 16, s. 150.

2015-10-26

1029.8.36.166.44. A qualified corporation for a taxation year that is a member of a qualified partnership at the end of a particular fiscal period of the partnership that ends in the year and that encloses the documents referred to in the seventh paragraph with the fiscal return it is required to file for the year under section 1000, is deemed, subject to the fourth paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the aggregate of all amounts each of which is, in relation to a qualified property,

(a)  if the paid-up capital attributed to the qualified corporation for the year, determined in accordance with section 737.18.24, is less than $500,000,000, the total of

i.  the product obtained by multiplying the aggregate of all amounts each of which is its share of the portion of the partnership’s eligible expenses (such portion being referred to in subparagraph ii as the “particular eligible expenses”) for the particular fiscal period, in respect of the property, to the extent that that aggregate does not include its share of the portion, determined by the qualified corporation, of the qualified partnership’s eligible expenses for the particular fiscal period that exceeds the balance of the partnership’s cumulative eligible expense limit for the particular fiscal period, or its share of the portion, determined by the qualified corporation, of such expenses incurred by the partnership in the particular fiscal period as a party to a joint venture that exceeds the partnership’s share for the particular fiscal period of the balance of the joint venture’s cumulative eligible expense limit, by the rate determined in relation to the portion of those expenses in respect of the property for the year under section 1029.8.36.166.45, and

ii.  the product obtained by multiplying the aggregate of all amounts each of which is its share of the portion of the particular eligible expenses for the particular fiscal period, in respect of the property, that are expenses eligible for an additional increase for the fiscal period, by the rate determined in relation to the portion of the particular eligible expenses for the year under section 1029.8.36.166.45.1; or

(b)  the product obtained by multiplying by 4% the amount by which its share of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, exceeds its share of the portion of those expenses that is referred to in subparagraph i of subparagraph a.

The total of all amounts each of which is an aggregate of amounts that is referred to in subparagraph i of subparagraph a of the first paragraph and determined in respect of a corporation for a taxation year, in relation to a qualified property, may not exceed the amount that is the amount by which the balance of its cumulative eligible expense limit for the year exceeds the aggregate of all amounts each of which is an aggregate of amounts that would be referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.43 for the year and in respect of which the corporation would be deemed to have paid an amount to the Minister for the year under section 1029.8.36.166.43 but for its third paragraph, if the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 were read without reference to “the amount by which the excluded expense amount relating to the qualified property in respect of the corporation for the particular year is exceeded by” in the portion of its paragraph a before subparagraph i.

The total amount that the corporation is deemed to have paid to the Minister for the year under the first paragraph and, if applicable, under the first paragraph of section 1029.8.36.166.43 must not exceed the corporation’s maximum tax credit amount for the year.

For the purpose of computing the payments that a corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

For the purposes of the first paragraph, a qualified corporation’s share of a particular amount, in relation to a qualified partnership of which it is a member in a fiscal period is equal to the agreed proportion of that amount in respect of the qualified corporation for the fiscal period.

Despite the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and for the purpose of applying this section to a corporation referred to in the first paragraph, the eligible expenses for a particular fiscal period, in respect of a qualified property, of a partnership of which the corporation is a member, or the portion of such eligible expenses referred to in subparagraph a of the first paragraph, do not include

(a)  the expenses that would otherwise be such eligible expenses because of subparagraph ii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that precedes the particular fiscal period and ends in a taxation year for which the corporation was not a qualified corporation; or

(b)  the expenses that would otherwise be such eligible expenses because of subparagraph iii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that ends in a taxation year for which the corporation was not a qualified corporation.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the agreement described in section 1029.8.36.166.40.1, if applicable.

2009, c. 15, s. 303; 2010, c. 25, s. 176; 2012, c. 8, s. 231; 2015, c. 21, s. 463; 2015, c. 24, s. 147.

2015-10-21

1029.8.36.166.44. A qualified corporation for a taxation year that is a member of a qualified partnership at the end of a particular fiscal period of the partnership that ends in the year and that encloses the documents referred to in the seventh paragraph with the fiscal return it is required to file for the year under section 1000, is deemed, subject to the fourth paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the aggregate of all amounts each of which is, in relation to a qualified property,

(a)  if the paid-up capital attributed to the qualified corporation for the year, determined in accordance with section 737.18.24, is less than $500,000,000, the total of

i.  the product obtained by multiplying the aggregate of all amounts each of which is its share of the portion of the partnership’s eligible expenses (such portion being referred to in subparagraph ii as the “particular eligible expenses”) for the particular fiscal period, in respect of the property, to the extent that that aggregate does not include its share of the portion, determined by the qualified corporation, of the qualified partnership’s eligible expenses for the particular fiscal period that exceeds the balance of the partnership’s cumulative eligible expense limit for the particular fiscal period, or its share of the portion, determined by the qualified corporation, of such expenses incurred by the partnership in the particular fiscal period as a party to a joint venture that exceeds the partnership’s share for the particular fiscal period of the balance of the joint venture’s cumulative eligible expense limit, by the rate determined in relation to the portion of those expenses in respect of the property for the year under section 1029.8.36.166.45, and

ii.  the product obtained by multiplying the aggregate of all amounts each of which is its share of the portion of the particular eligible expenses for the particular fiscal period, in respect of the property, that are expenses eligible for an additional increase for the fiscal period, by the rate determined in relation to the portion of the particular eligible expenses for the year under section 1029.8.36.166.45.1; or

(b)  the product obtained by multiplying by 4% the amount by which its share of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, exceeds its share of the portion of those expenses that is referred to in subparagraph i of subparagraph a.;

The total of all amounts each of which is an aggregate of amounts that is referred to in subparagraph i of subparagraph a of the first paragraph and determined in respect of a corporation for a taxation year, in relation to a qualified property, may not exceed the amount that is the amount by which the balance of its cumulative eligible expense limit for the year exceeds the aggregate of all amounts each of which is an aggregate of amounts that is referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.43 for the year in respect of which the corporation is deemed to have paid an amount to the Minister for the year under section 1029.8.36.166.43 or would be so deemed to have paid such an amount but for the third paragraph of that section.

The total amount that the corporation is deemed to have paid to the Minister for the year under the first paragraph and, if applicable, under the first paragraph of section 1029.8.36.166.43 must not exceed the corporation’s maximum tax credit amount for the year.

For the purpose of computing the payments that a corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

For the purposes of the first paragraph, a qualified corporation’s share of a particular amount, in relation to a qualified partnership of which it is a member in a fiscal period is equal to the agreed proportion of that amount in respect of the qualified corporation for the fiscal period.

Despite the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and for the purpose of applying this section to a corporation referred to in the first paragraph, the eligible expenses for a particular fiscal period, in respect of a qualified property, of a partnership of which the corporation is a member, or the portion of such eligible expenses referred to in subparagraph a of the first paragraph, do not include

(a)  the expenses that would otherwise be such eligible expenses because of subparagraph ii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that precedes the particular fiscal period and ends in a taxation year for which the corporation was not a qualified corporation; or

(b)  the expenses that would otherwise be such eligible expenses because of subparagraph iii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that ends in a taxation year for which the corporation was not a qualified corporation.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the agreement described in section 1029.8.36.166.40.1, if applicable.

2009, c. 15, s. 303; 2010, c. 25, s. 176; 2012, c. 8, s. 231; 2015, c. 21, s. 463.

2012-05-09

1029.8.36.166.44. A qualified corporation for a taxation year that is a member of a qualified partnership at the end of a particular fiscal period of the partnership that ends in the year and that encloses the documents referred to in the seventh paragraph with the fiscal return it is required to file for the year under section 1000, is deemed, subject to the fourth paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the aggregate of all amounts each of which is, in relation to a qualified property,

(a)  if the paid-up capital attributed to the qualified corporation for the year, determined in accordance with section 737.18.24, is less than $500,000,000, the product obtained by multiplying the aggregate of all amounts each of which is its share of the portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, to the extent that that aggregate does not include its share of the portion, determined by the qualified corporation, of the qualified partnership’s eligible expenses for the particular fiscal period that exceeds the balance of the partnership’s cumulative eligible expense limit for the particular fiscal period, or its share of the portion, determined by the qualified corporation, of such expenses incurred by the partnership in the particular fiscal period as a party to a joint venture that exceeds the partnership’s share for the particular fiscal period of the balance of the joint venture’s cumulative eligible expense limit, by the rate determined in relation to the portion of those expenses in respect of the property for the year under section 1029.8.36.166.45; or

(b)  the product obtained by multiplying by 5% the amount by which its share of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, exceeds its share of the portion of those expenses that is referred to in subparagraph a.

The aggregate of the amounts referred to in subparagraph a of the first paragraph and determined in respect of a corporation for a taxation year may not exceed the amount by which the balance of the corporation’s cumulative eligible expense limit for the year exceeds the aggregate of the amounts referred to in subparagraph a of the first paragraph of section 1029.8.36.166.43 for the year in respect of which the corporation is deemed to have paid an amount to the Minister for the year under section 1029.8.36.166.43 or would be so deemed to have paid such an amount but for the third paragraph of that section.

The total amount that the corporation is deemed to have paid to the Minister for the year under the first paragraph and, if applicable, under the first paragraph of section 1029.8.36.166.43 must not exceed the corporation’s maximum tax credit amount for the year.

For the purpose of computing the payments that a corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

For the purposes of the first paragraph, a qualified corporation’s share of a particular amount, in relation to a qualified partnership of which it is a member in a fiscal period is equal to the agreed proportion of that amount in respect of the qualified corporation for the fiscal period.

Despite the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and for the purpose of applying this section to a corporation referred to in the first paragraph, the eligible expenses for a particular fiscal period, in respect of a qualified property, of a partnership of which the corporation is a member, or the portion of such eligible expenses referred to in subparagraph a of the first paragraph, do not include

(a)  the expenses that would otherwise be such eligible expenses because of subparagraph ii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that precedes the particular fiscal period and ends in a taxation year for which the corporation was not a qualified corporation; or

(b)  the expenses that would otherwise be such eligible expenses because of subparagraph iii of paragraph b of the definition of “eligible expenses” in the first paragraph of section 1029.8.36.166.40 and that are incurred in a fiscal period of the partnership that ends in a taxation year for which the corporation was not a qualified corporation.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the agreement described in section 1029.8.36.166.40.1, if applicable.

2009, c. 15, s. 303; 2010, c. 25, s. 176; 2012, c. 8, s. 231.

2010-10-27

1029.8.36.166.44. A qualified corporation for a taxation year that is a member of a qualified partnership at the end of a particular fiscal period of the partnership that ends in the year and that encloses the documents referred to in the sixth paragraph with the fiscal return it is required to file for the year under section 1000, is deemed, subject to the fourth paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the aggregate of all amounts each of which is, in relation to a qualified property,

(a)  if the paid-up capital attributed to the qualified corporation for the year, determined in accordance with section 737.18.24, is less than $500,000,000, the aggregate of all amounts, to the extent that that aggregate does not include its share of the portion, determined by the qualified corporation, of the qualified partnership’s eligible expenses for the particular fiscal period that exceeds its share of the balance of the partnership’s cumulative eligible expense limit for the particular fiscal period, or its share of the portion, determined by the qualified corporation, of such expenses incurred by the partnership in the particular fiscal period as a party to a joint venture that exceeds the partnership’s share for the particular fiscal period of the balance of the joint venture’s cumulative eligible expense limit, each of which is the product obtained by multiplying its share of the portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, by the rate determined in relation to the portion of those expenses in respect of the property for the year under section 1029.8.36.166.45; or

(b)  the product obtained by multiplying its share of the portion of the partnership’s eligible expenses for the particular fiscal period, in respect of the property, other than the portion of those expenses that is referred to in subparagraph a, by 5%.

The aggregate of the amounts referred to in subparagraph a of the first paragraph and determined in respect of a corporation for a taxation year may not exceed the amount by which the balance of the corporation’s cumulative eligible expense limit for the year exceeds the portion of the aggregate of the amounts referred to in subparagraph a of the first paragraph of section 1029.8.36.166.43 for the year in respect of which the corporation is deemed to have paid an amount to the Minister for the year under section 1029.8.36.166.43 or would be so deemed to have paid such an amount but for the third paragraph of that section.

The total amount that the corporation is deemed to have paid to the Minister for the year under the first paragraph and, if applicable, under the first paragraph of section 1029.8.36.166.43 must not exceed the corporation’s maximum tax credit amount for the year.

For the purpose of computing the payments that a corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

For the purposes of the first paragraph, a qualified corporation’s share of a particular amount, in relation to a qualified partnership of which it is a member in a fiscal period is equal to the agreed proportion of that amount in respect of the qualified corporation for the fiscal period.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information; and

(b)  a copy of the agreement described in section 1029.8.36.166.40.1, if applicable.

2009, c. 15, s. 303; 2010, c. 25, s. 176.

2009-06-04

1029.8.36.166.44. A qualified corporation for a taxation year that is a member of a qualified partnership at the end of a particular fiscal period of the partnership that ends in the year, and that encloses the prescribed form containing prescribed information with the fiscal return it is required to file for the year under section 1000, is deemed, subject to the third paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the aggregate of all amounts each of which is the product obtained by multiplying its share of the partnership’s eligible expenses for the particular fiscal period, in respect of a qualified property, by the rate determined in respect of the property for the year under section 1029.8.36.166.45.

The total amount that the corporation is deemed to have paid to the Minister for the year under the first paragraph and, if applicable, under the first paragraph of section 1029.8.36.166.43 must not exceed the corporation’s maximum tax credit amount for the year.

For the purpose of computing the payments that a corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

For the purposes of the first paragraph, a qualified corporation’s share of the eligible expenses incurred by a qualified partnership in a fiscal period is equal to the agreed proportion of the expenses in respect of the qualified corporation for the fiscal period.

2009, c. 15, s. 303.