I-3 - Taxation Act

Section 1029.8.34.1 Disposition versions

2019-06-19

1029.8.34.1. Despite Chapter IV of Title II of Book I, where, at any time in a taxation year that ends before 1 March 2014 or begins after 26 March 2015, a particular corporation would, but for this paragraph, be related to another corporation that is described in paragraph a.2 or a.4 of the definition of “qualified corporation” in the first paragraph of section 1029.8.34 (in this section and section 1029.8.34.2 referred to as the “excluded corporation”) as a consequence of the particular corporation and the excluded corporation being controlled at that time by a specified entity, within the meaning of section 1029.8.34.3, no right referred to in paragraph b of section 20 that is held by the specified entity in relation to shares of the capital stock of the particular corporation and the excluded corporation is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the excluded corporation for the purposes of the following provisions:

(a)  subparagraphs ii and iii of paragraphs b to b.2 of the definition of “labour expenditure” in the first paragraph of section 1029.8.34;

(b)  paragraphs a.3 and a.5 of the definition of “qualified corporation” in the first paragraph of section 1029.8.34; and

(c)  subparagraph 4 of subparagraph i of subparagraph c.1 of the second paragraph of section 1029.8.34.

Despite Chapter IV of Title II of Book I, where, at any time, a particular corporation would, but for this paragraph, be deemed to be related to an excluded corporation under subsection 2 of section 19 as a consequence of the particular corporation and the excluded corporation being related at that time to the same corporation (in this paragraph referred to as the “third corporation”), no right referred to in paragraph b of section 20 that is held by a specified entity in relation to shares of the capital stock of the particular corporation, the excluded corporation and the third corporation is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the excluded corporation for the purposes of the provisions referred to in subparagraphs a to c of the first paragraph.

2015, c. 21, s. 413; 2015, c. 36, s. 102; 2019, c. 14, s. 319.

2015-12-04

1029.8.34.1. Despite Chapter IV of Title II of Book I, if, at any time in a taxation year that ends before 1 March 2014 or begins after 26 March 2015, a particular corporation would, but for this paragraph, be related to another corporation holding a broadcasting licence issued by the Canadian Radio-television and Telecommunications Commission (in this section and section 1029.8.34.2 referred to as the “television broadcaster”) as a consequence of the particular corporation and the television broadcaster being controlled at that time by a specified entity, within the meaning of section 1029.8.34.3, no right referred to in paragraph b of section 20 that is held by the specified entity in relation to shares of the capital stock of the particular corporation and the television broadcaster is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the television broadcaster for the purposes of the following provisions:

(a)  subparagraphs ii and iii of paragraphs b to b.2 of the definition of “labour expenditure” in the first paragraph of section 1029.8.34;

(b)  paragraph a.3 of the definition of “qualified corporation” in the first paragraph of section 1029.8.34; and

(c)  subparagraph 4 of subparagraph i of subparagraph c.1 of the second paragraph of section 1029.8.34.

Despite Chapter IV of Title II of Book I, if, at any time, a particular corporation would, but for this paragraph, be deemed to be related to a television broadcaster under subsection 2 of section 19 as a consequence of the particular corporation and the television broadcaster being related at that time to the same corporation (in this paragraph referred to as the “third corporation”), no right referred to in paragraph b of section 20 that is held by a specified entity in relation to shares of the capital stock of the particular corporation, the television broadcaster and the third corporation is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the television broadcaster for the purposes of the provisions referred to in subparagraphs a to c of the first paragraph.

2015, c. 21, s. 413; 2015, c. 36, s. 102.

2015-10-21

1029.8.34.1. Despite Chapter IV of Title II of Book I, if, at any time in a taxation year that ends before 1 March 2014, a particular corporation would, but for this paragraph, be related to another corporation holding a broadcasting licence issued by the Canadian Radio-television and Telecommunications Commission (in this section and section 1029.8.34.2 referred to as the “television broadcaster”) as a consequence of the particular corporation and the television broadcaster being controlled at that time by a specified entity, within the meaning of section 1029.8.34.3, no right referred to in paragraph b of section 20 that is held by the specified entity in relation to shares of the capital stock of the particular corporation and the television broadcaster is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the television broadcaster for the purposes of the following provisions:

(a)  subparagraphs ii and iii of paragraphs b to b.2 of the definition of “labour expenditure” in the first paragraph of section 1029.8.34;

(b)  paragraph a.3 of the definition of “qualified corporation” in the first paragraph of section 1029.8.34; and

(c)  subparagraph 4 of subparagraph i of subparagraph c.1 of the second paragraph of section 1029.8.34.

Despite Chapter IV of Title II of Book I, if, at any time, a particular corporation would, but for this paragraph, be deemed to be related to a television broadcaster under subsection 2 of section 19 as a consequence of the particular corporation and the television broadcaster being related at that time to the same corporation (in this paragraph referred to as the “third corporation”), no right referred to in paragraph b of section 20 that is held by a specified entity in relation to shares of the capital stock of the particular corporation, the television broadcaster and the third corporation is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the television broadcaster for the purposes of the provisions referred to in subparagraphs a to c of the first paragraph.

2015, c. 21, s. 413.