I-3 - Taxation Act

Section 1029.8.36.0.34 Disposition versions

2006-03-01

1029.8.36.0.34. For the purposes of section 1029.8.36.0.32 or 1029.8.36.0.32.1, an amount of assistance is deemed to be repaid by a corporation in a taxation year, pursuant to a legal obligation, where that amount

(a)  reduced, as the case may be, acquisition costs or rental expenses of the corporation, because of section 1029.8.36.0.29, for the purpose of computing the amount that the corporation is deemed to have paid to the Minister for a taxation year under section 1029.8.36.0.25, or eligible rental expenses of the corporation, because of section 1029.8.36.0.29.1, for the purpose of computing the amount that the corporation is deemed to have paid to the Minister for a taxation year under section 1029.8.36.0.25.1;

(b)  was not received by the corporation; and

(c)  ceased in the taxation year to be an amount that the corporation may reasonably expect to receive.

In addition, if a corporation carried on or could carry on its business in an information technology development centre in a particular taxation year that begins before 21 December 2001 for which the corporation is deemed to have paid an amount to the Minister in respect of acquisition costs or rental expenses under section 1029.8.36.0.6, as it read for the particular year, the first paragraph applies, in respect of an amount that reduced those costs or expenses for the purpose of computing the amount deemed to have been paid, by replacing the portion of the first paragraph before subparagraph b by the following:

"1029.8.36.0.34. For the purposes of section 1029.8.36.0.32, an amount of assistance is deemed to be repaid by a corporation in a taxation year, pursuant to a legal obligation, where that amount

(a) reduced acquisition costs or rental expenses of the corporation for the purpose of computing the amount that the corporation is deemed to have paid to the Minister for a particular taxation year under section 1029.8.36.0.6, as it read for the particular year, because of section 1029.8.36.0.9, as it read for the particular year;".

2000, c. 39, s. 176; 2003, c. 9, s. 240.