I-3 - Taxation Act

Section 1129.43 Disposition versions

2009-05-15

1129.43. Every corporation that is deemed to have paid an amount to the Minister, under section 1029.8.36.5, on account of its tax payable under Part I for a particular taxation year, in respect of an expenditure incurred by the corporation in the particular year in relation to a design activity carried out under a contract entered into with a qualified outside consultant, shall pay the tax computed under the second paragraph for a subsequent taxation year (in this section referred to as the “repayment year”) in which

(a)  an amount relating to the expenditure is, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation; or

(b)  a contract payment, government assistance or non-government assistance is received by a person or partnership and the contract payment or assistance would have reduced, in accordance with subparagraph a of the first paragraph of section 1029.8.36.18, the wages paid to a qualified designer or qualified patternmaker by the person or partnership and to which the expenditure is attributable, if the person or partnership had received it, had been entitled to receive it or could reasonably have expected to receive it on or before the corporation’s filing-due date for the particular taxation year.

The tax to which the first paragraph refers is equal to the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister for a taxation year preceding the repayment year under section 1029.8.36.5 or 1029.8.36.20, in relation to the expenditure, exceeds the total of

(a)  the aggregate of all amounts each of which is an amount that the corporation would be deemed to have paid to the Minister for a taxation year preceding the repayment year under section 1029.8.36.5 or 1029.8.36.20, in relation to the expenditure, if

i.  every amount that is so refunded, paid or allocated at or before the end of the repayment year, in relation to the expenditure, were refunded, paid or allocated in the particular taxation year, and

ii.  every contract payment, government assistance or non-government assistance referred to in subparagraph b of the first paragraph that is received by the person or partnership at or before the end of the repayment year, were received in the particular taxation year; and

(b)  the aggregate of all amounts each of which is a tax that the corporation is required to pay to the Minister under this section for a taxation year preceding the repayment year, in relation to the expenditure.

1995, c. 1, s. 191; 1995, c. 63, s. 236; 1997, c. 3, s. 71; 2000, c. 39, s. 264; 2006, c. 13, s. 212; 2009, c. 5, s. 524.

2006-06-13

1129.43. Every corporation that is deemed to have paid an amount to the Minister, under section 1029.8.36.5, on account of its tax payable under Part I for a particular taxation year in relation to a design activity carried out under a contract entered into with a qualified outside consultant shall pay the tax computed under the second paragraph for a subsequent taxation year, in this section referred to as the “repayment year”, in which an amount relating to the amount of an expenditure incurred under the contract is, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation.

The tax to which the first paragraph refers is equal to the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister for a taxation year preceding the repayment year under section 1029.8.36.5 or 1029.8.36.20, in relation to the design activity carried out under the contract, exceeds the total of

(a)  the aggregate of all amounts each of which is an amount that the corporation would be deemed to have paid to the Minister for a taxation year preceding the repayment year under section 1029.8.36.5 or 1029.8.36.20, in relation to the design activity carried out under the contract, if every amount that is, at or before the end of the repayment year, so refunded, paid or allocated, in relation to the amount of an expenditure incurred by the corporation under the contract, were refunded, paid or allocated in the particular taxation year; and

(b)  the aggregate of all amounts each of which is a tax that the corporation is required to pay to the Minister under this section for a taxation year preceding the repayment year, in relation to the contract.

1995, c. 1, s. 191; 1995, c. 63, s. 236; 1997, c. 3, s. 71; 2000, c. 39, s. 264; 2006, c. 13, s. 212.

2006-03-01

1129.43. Every corporation that is deemed to have paid to the Minister, under any of sections 1029.8.36.5 to 1029.8.36.7, an amount as partial payment of its tax payable under Part I for a particular taxation year shall, where during a subsequent taxation year, an amount in respect of an expenditure or of its share of such expenditure, in respect of which it is so deemed to have paid an amount is, directly or indirectly, refunded to the corporation or allocated to a payment to be made by the corporation, pay for that subsequent year tax equal to the amount obtained by applying to the amount so refunded or allocated, the percentage that was applied to the expenditure for the particular taxation year under section 1029.8.36.5 or 1029.8.36.7, or to its share of the expenditure for the particular taxation year under section 1029.8.36.6.

1995, c. 1, s. 191; 1995, c. 63, s. 236; 1997, c. 3, s. 71; 2000, c. 39, s. 264.