I-3 - Taxation Act

Section 1029.8.36.163 Disposition versions

2010-10-27

1029.8.36.163. (Repealed).

2002, c. 40, s. 209; 2003, c. 9, s. 339; 2010, c. 25, s. 170.

2006-03-01

1029.8.36.163. A qualified corporation for a taxation year that encloses with the fiscal return it is required to file for the year under section 1000, the prescribed form containing the prescribed information and a copy of the qualification certificate or of the provisional certificate, as the case may be, that was issued by the Minister of Finance for the year, is deemed, subject to the second paragraph and section 1029.8.36.164, to have paid to the Minister on the corporation’s balance-due day for the year, on account of its tax payable for that year under this Part, an amount equal to 40% of its eligible communications expenditure for the year, to the extent that the expenses that constitute a communications expenditure included in computing the eligible communications expenditure are paid.

For the purpose of computing the payments that a qualified corporation 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 qualified 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.

2002, c. 40, s. 209; 2003, c. 9, s. 339.