I-3 - Taxation Act

Section 1029.8.36.0.3.47 Disposition versions

2021-06-04

1029.8.36.0.3.47. (Repealed).

2002, c. 9, s. 74; 2004, c. 21, s. 326; 2021, c. 18, s. 119.

2006-03-01

1029.8.36.0.3.47. The amount to which paragraph a of the definition of “qualified wages” in the first paragraph of section 1029.8.36.0.3.46 refers, for a taxation year of a qualified corporation, in relation to an eligible employee means an amount equal,

(a)  where the taxation year of the qualified corporation ends before 1 January 2001, to the amount obtained by multiplying $40,000 by the proportion that the number of days in the corporation’s eligibility period for the year during which the employee qualifies as an eligible employee is of 365;

(b)  where the taxation year of the qualified corporation includes 1 January 2001, to the aggregate of

i.  the amount obtained by multiplying $40,000 by the proportion that the number of days in the corporation’s eligibility period for the year that precede 1 January 2001 during which the employee qualifies as an eligible employee is of 365, and

ii.  the amount obtained by multiplying $35,714.29 by the proportion that the number of days in the corporation’s eligibility period for the year that follow 31 December 2000 during which the employee qualifies as an eligible employee is of 365; and

(c)  in any other case, to the amount obtained by multiplying $35,714.29 by the proportion that the number of days in the corporation’s eligibility period for the taxation year during which the employee qualifies as an eligible employee is of 365;

(d)  (paragraph repealed);

(e)  (paragraph repealed);

(f)  (paragraph repealed).

2002, c. 9, s. 74; 2004, c. 21, s. 326.