I-3 - Taxation Act

Section 1029.8.36.0.57 Disposition versions

2021-06-04

1029.8.36.0.57. (Repealed).

2000, c. 39, s. 176; 2001, c. 51, s. 228; 2003, c. 9, s. 257; 2021, c. 18, s. 121.

2006-03-01

1029.8.36.0.57. A corporation, other than an excluded corporation, that carries on a recognized business in a taxation year, that incurs in that year, in the course of carrying on that business, a qualified brokerage expenditure and that encloses, with its fiscal return it is required to file for the year under section 1000, the documents referred to in the second paragraph, is deemed, subject to the third paragraph, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for the year under this Part, an amount equal to the amount determined under section 1029.8.36.0.58 or 1029.8.36.0.59, as the case may be, in relation to the qualified brokerage expenditure.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of the certificates each of which is a valid certificate that was issued to the corporation for the year in respect of an eligible contract concerning eligible customs brokerage services in respect of which the corporation incurred fees included in computing its qualified brokerage expenditure, and that is referred to in the definition of “eligible contract” in the first paragraph of section 1029.8.36.0.55.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 where they refer to that subparagraph a, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

2000, c. 39, s. 176; 2001, c. 51, s. 228; 2003, c. 9, s. 257.