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I-3 - Taxation Act
Section 1029.8.36.126
Disposition versions
1029.8.36.126. (Repealed).
1029.8.36.126. An associated group in a taxation year or fiscal period means the group formed by all the corporations and partnerships operating an international financial centre in the year or fiscal period that are associated with each other in the year and, for the purposes of this section, a partnership operating an international financial centre in a fiscal period is deemed to be a corporation the taxation year of which corresponds to the partnership’s fiscal period and all of the voting shares in the capital stock of which are owned in the fiscal period by each member of the partnership in a proportion equal to the proportion that
(a) the member’s share of the income or loss of the partnership for that fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000, is of
(b) the income or loss of the partnership for that fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000.
An associated group at the end of a taxation year or fiscal period means the group formed by all the corporations and partnerships that are associated with each other at that time.
