I-3 - Taxation Act

Section 1029.8.36.123 Disposition versions

2010-04-20

1029.8.36.123. (Repealed).

1999, c. 86, s. 85; 2001, c. 7, s. 169; 2002, c. 40, s. 201; 2006, c. 36, s. 189; 2009, c. 15, s. 302; 2010, c. 5, s. 158.

2009-06-04

1029.8.36.123. Where, in a fiscal period of a partnership, in this section referred to as the “fiscal period of repayment”, a taxpayer who is a member of the partnership pays, pursuant to a legal obligation, an amount that may reasonably be considered to be repayment of government assistance or non-government assistance, in respect of wages included in computing the qualified wages attributed to a particular fiscal period of the partnership and paid by the partnership to an individual, that is referred to in the portion of section 1029.8.36.119 before paragraph a and that, pursuant to that section, was taken into account in determining the qualified wages for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ended, the taxpayer is deemed, if the taxpayer meets the conditions set out in the third paragraph, to have paid to the Minister on the taxpayer’s balance-due day for the taxpayer’s taxation year in which the fiscal period of repayment ends, on account of the taxpayer’s tax payable for that year under this Part, an amount equal to the amount by which the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ends, exceeds the amount referred to in the second paragraph, if

(a)  the aggregate of the amounts referred to in subparagraph ii of paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.115 and determined with reference to section 1029.8.36.119, were reduced, for the particular fiscal period, by the product obtained by multiplying every amount of the assistance so repaid at or before the end of the fiscal period of repayment by the reciprocal of the agreed proportion in respect of the taxpayer for the fiscal period of repayment; and

(b)  except for the purposes of section 1029.8.36.119, the agreed proportion in respect of the taxpayer for the particular fiscal period were the same as that for the fiscal period of repayment.

The amount to which the first paragraph refers means the aggregate of

(a)  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ends if, except for the purposes of section 1029.8.36.119, the agreed proportion in respect of the taxpayer for the particular fiscal period were the same as that for the fiscal period of repayment; and

(b)  any amount that the taxpayer would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount of assistance repaid by the taxpayer if, except for the purposes of section 1029.8.36.119, the agreed proportion in respect of the taxpayer for the particular fiscal period were the same as that for the fiscal period of repayment.

The conditions to which the first paragraph refers are as follows:

(a)  the taxpayer encloses the prescribed form with the fiscal return the taxpayer is required to file under section 1000 for the taxpayer’s taxation year in which the fiscal period of repayment ends; and

(b)  the taxpayer is a member of the partnership at the end of the fiscal period of repayment.

1999, c. 86, s. 85; 2001, c. 7, s. 169; 2002, c. 40, s. 201; 2006, c. 36, s. 189; 2009, c. 15, s. 302.

2006-12-06

1029.8.36.123. Where, in a fiscal period of a partnership, in this section referred to as the “fiscal period of repayment”, a taxpayer who is a member of the partnership pays, pursuant to a legal obligation, an amount that may reasonably be considered to be repayment of government assistance or non-government assistance, in respect of wages included in computing the qualified wages attributed to a particular fiscal period of the partnership and paid by the partnership to an individual, that is referred to in the portion of section 1029.8.36.119 before paragraph a and that, pursuant to that section, was taken into account in determining the qualified wages for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ended, the taxpayer is deemed, if the taxpayer meets the conditions set out in the third paragraph, to have paid to the Minister on the taxpayer’s balance-due day for the taxpayer’s taxation year in which the fiscal period of repayment ends, on account of the taxpayer’s tax payable for that year under this Part, an amount equal to the amount by which the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ends, exceeds the amount referred to in the second paragraph, if

(a)  the aggregate of the amounts referred to in subparagraph ii of paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.115 and determined with reference to section 1029.8.36.119, were reduced, for the particular fiscal period, by the product obtained by multiplying every amount of the assistance so repaid at or before the end of the fiscal period of repayment by the proportion that the partnership’s income or loss for the fiscal period of repayment is of the taxpayer’s share of that income or loss, on the assumption that, if the partnership’s income and loss for the fiscal period of repayment are nil, the partnership’s income for that fiscal period is equal to $1,000,000; and

(b)  except for the purposes of section 1029.8.36.119, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment.

The amount to which the first paragraph refers means the aggregate of

(a)  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ends if, except for the purposes of section 1029.8.36.119, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment; and

(b)  any amount that the taxpayer would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount of assistance repaid by the taxpayer if, except for the purposes of section 1029.8.36.119, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment.

The conditions to which the first paragraph refers are as follows:

(a)  the taxpayer encloses the prescribed form with the fiscal return the taxpayer is required to file under section 1000 for the taxpayer’s taxation year in which the fiscal period of repayment ends; and

(b)  the taxpayer is a member of the partnership at the end of the fiscal period of repayment.

1999, c. 86, s. 85; 2001, c. 7, s. 169; 2002, c. 40, s. 201; 2006, c. 36, s. 189.

2006-03-01

1029.8.36.123. Where, in a fiscal period of a partnership, in this section referred to as the "fiscal period of repayment", a taxpayer who is a member of the partnership pays, pursuant to a legal obligation, an amount that may reasonably be considered to be repayment of government assistance or non-government assistance, in respect of wages included in computing the qualified wages attributed to a particular fiscal period of the partnership and paid by the partnership to an individual, that is referred to in the portion of section 1029.8.36.119 before paragraph a and that, pursuant to that section, was taken into account in determining the qualified wages for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ended, the taxpayer is deemed, if the taxpayer meets the conditions set out in the third paragraph, to have paid to the Minister on the taxpayer’s balance-due day for the taxpayer’s taxation year in which the fiscal period of repayment ends, on account of the taxpayer’s tax payable for that year under this Part, an amount equal to the amount by which the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ends, exceeds the amount referred to in the second paragraph, if

(a)  the aggregate of the amounts referred to in subparagraph ii of paragraph b of the definition of "qualified wages" in the first paragraph of section 1029.8.36.115 and determined with reference to section 1029.8.36.119, had been reduced, for the particular fiscal period, by the product obtained by multiplying every amount of the assistance so repaid at or before the end of the fiscal period of repayment by the proportion that the partnership’s income or loss for the fiscal period of repayment is of the taxpayer’s share of that income or loss, on the assumption that, if the partnership’s income and loss for the fiscal period of repayment are nil, the partnership’s income for that fiscal period is equal to $1,000,000; and

(b)  except for the purposes of section 1029.8.36.119, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment.

The amount to which the first paragraph refers means the aggregate of

(a)  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.117, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ends if, except for the purposes of section 1029.8.36.119, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment; and

(b)  any amount that the taxpayer would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount of assistance repaid by the taxpayer if, except for the purposes of section 1029.8.36.119, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment.

The conditions to which the first paragraph refers are as follows:

(a)  the taxpayer encloses the prescribed form with the fiscal return the taxpayer is required to file under section 1000 for the taxpayer’s taxation year in which the fiscal period of repayment ends; and

(b)  the taxpayer is a member of the partnership at the end of the fiscal period of repayment.

1999, c. 86, s. 85; 2001, c. 7, s. 169; 2002, c. 40, s. 201.