I-3 - Taxation Act

Section 1029.8.36.0.56 Disposition versions

2021-06-04

1029.8.36.0.56. (Repealed).

2000, c. 39, s. 176; 2001, c. 51, s. 163; 2003, c. 9, s. 256; 2021, c. 18, s. 121.

2006-03-01

1029.8.36.0.56. The amount to which paragraph a of the definition of “qualified brokerage expenditure” in the first paragraph of section 1029.8.36.0.55 refers, for a taxation year of a corporation or a fiscal period of a partnership, in relation to a recognized business is equal

(a)  where the taxation year of the corporation or the fiscal period of the partnership ends before 1 January 2002, to the amount obtained by multiplying $75,000 by the proportion that the number of days in the taxation year or fiscal period is of 365;

(b)  where the taxation year of the corporation or the fiscal period of the partnership begins before 1 January 2002 and ends after 31 December 2001, to the aggregate of

i.  the amount obtained by multiplying $75,000 by the proportion that the number of days in the taxation year or fiscal period before 1 January 2002 is of 365, and

ii.  the amount obtained by multiplying $80,000 by the proportion that the number of days in the taxation year or fiscal period after 31 December 2001 is of 365;

(c)  where the taxation year of the corporation or the fiscal period of the partnership ends after 31 December 2013, to the amount obtained by multiplying $80,000 by the proportion that the number of days in the taxation year or fiscal period before 1 January 2014 is of 365; and

(d)  in any other case, to the amount obtained by multiplying $80,000 by the proportion that the number of days in the taxation year or fiscal period is of 365.

2000, c. 39, s. 176; 2001, c. 51, s. 163; 2003, c. 9, s. 256.