I-3 - Taxation Act

Section 1029.8.36.20 Disposition versions

2006-06-13

1029.8.36.20. If, in a taxation year, in this section referred to as the “repayment year”, a qualified corporation or a qualified outside consultant with whom it has entered into a contract for the carrying out of a design activity pays, pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance that reduced, in accordance with subparagraph a or b of the first paragraph of section 1029.8.36.18, an expenditure incurred by the qualified corporation in a particular taxation year for the purpose of computing the amount that the qualified corporation is deemed to have paid to the Minister for the particular taxation year under section 1029.8.36.5, the qualified corporation is deemed, if it encloses the prescribed form containing the prescribed information with the fiscal return it is required to file under section 1000 for the repayment year, to have paid to the Minister on the qualified corporation’s balance-due day for the repayment year, on account of its tax payable for that year under this Part, an amount equal to the amount by which the amount that it would be deemed to have paid to the Minister for the particular year under section 1029.8.36.5 in respect of the expenditure, if any amount of such assistance so repaid at or before the end of the repayment year had reduced, for the particular year, the government assistance or non-government assistance, exceeds the aggregate of

(a)  the amount that the corporation is deemed to have paid to the Minister for the particular year under section 1029.8.36.5 in respect of the expenditure; and

(b)  any amount that the corporation is deemed to have paid to the Minister for a taxation year preceding the repayment year under this section in respect of an amount of repayment of that assistance.

1995, c. 1, s. 157; 1995, c. 63, s. 189; 1997, c. 3, s. 71; 1999, c. 8, s. 20; 2001, c. 51, s. 175; 2003, c. 29, s. 135; 2006, c. 13, s. 145; 2006, c. 36, s. 306.

2006-03-01

1029.8.36.20. Where, in any particular taxation year, a qualified corporation pays a particular amount that may reasonably be considered to be the repayment of government assistance or non-government assistance that reduced, in accordance with subparagraph a of the first paragraph of section 1029.8.36.18, an expenditure incurred by the corporation for the purpose of computing the amount that the corporation is deemed to have paid to the Minister for a taxation year under section 1029.8.36.5 in respect of an outside consulting contract, the particular amount is deemed to be an expenditure referred to in that section in respect of that contract, for the particular taxation year and, for the purposes of section 1029.8.36.5 in respect of that expenditure, the following rules apply:

(a)  the corporation is deemed to hold a valid certificate issued for the year by the Minister of Economic and Regional Development and Research which mentions the outside consulting contract; and

(b)  the portion of the first paragraph of section 1029.8.36.5 before subparagraph a shall be read without reference to the words "and a copy of the certificate".

1995, c. 1, s. 157; 1995, c. 63, s. 189; 1997, c. 3, s. 71; 1999, c. 8, s. 20; 2001, c. 51, s. 175; 2003, c. 29, s. 135; O.C. 222-2004.