I-3 - Taxation Act

Section 1029.8.36.166.40.1 Disposition versions

2015-10-26

1029.8.36.166.40.1. For the purposes of this division, the balance of a qualified corporation’s cumulative eligible expense limit for a particular taxation year is equal,

(a)  if the qualified corporation is not a member of an associated group in the particular year, to the amount by which $75,000,000 exceeds the aggregate of all amounts each of which would be the amount of the portion of the qualified corporation’s eligible expenses, in respect of a qualified property, for any preceding taxation year that ends in a 24-month period preceding the beginning of the particular year, or its share of the portion of a partnership’s eligible expenses, in respect of a qualified property, for a fiscal period of the partnership that ends in such a preceding taxation year, that would be referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.43 or 1029.8.36.166.44 and in respect of which an amount would be deemed to have been paid to the Minister by the corporation for that preceding year under section 1029.8.36.166.43 or 1029.8.36.166.44, as the case may be, but for the third paragraph of that section, if the excluded expense amount relating to the qualified property were equal to zero; or

(b)  if the qualified corporation is a member of an associated group in the particular year, to the amount attributed for the particular year to the qualified corporation pursuant to the agreement described in the second paragraph and filed with the Minister in the prescribed form or, if no amount is attributed to the qualified corporation pursuant to that agreement or in the absence of such an agreement, to zero or to the amount attributed to it by the Minister, if applicable, for the particular year in accordance with this division.

The agreement to which subparagraph b of the first paragraph refers, in respect of a particular taxation year of the qualified corporation, is the agreement under which all the corporations that are members of the associated group in the particular taxation year attribute, for the purposes of this section, to one or more of the corporations that are members of the associated group, for the particular taxation year, one or more amounts the total of which is not greater than the amount by which $75,000,000 exceeds the aggregate of all amounts each of which would be

(a)  the amount of the portion of the eligible expenses of a corporation that is a member of the associated group in the particular year, in respect of a qualified property, for a taxation year that ends in a 24-month period preceding the beginning of the particular year, that would be referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.43 and in respect of which an amount would be deemed to have been paid to the Minister by the corporation under section 1029.8.36.166.43 but for its third paragraph, if the excluded expense amount relating to the qualified property were equal to zero; or

(b)  the amount of the share of a corporation that is a member of the associated group in the year of the portion of the eligible expenses of a partnership, in respect of a qualified property, for a fiscal period of the partnership that ended in a taxation year of the corporation that ends in a 24-month period preceding the beginning of the particular year, that would be referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.44 and in respect of which an amount would be deemed to have been paid to the Minister by the corporation under section 1029.8.36.166.44 but for its third paragraph, if the excluded expense amount relating to the qualified property were equal to zero.

If the aggregate of the amounts attributed, in respect of a taxation year, in an agreement described in the second paragraph and entered into with the corporations that are members of an associated group in the year is greater than the excess amount determined under that paragraph, the amount determined under subparagraph b of the first paragraph in respect of each of those corporations for that taxation year is deemed, for the purposes of this section, to be equal to the proportion of that excess amount that that amount is of the aggregate of the amounts attributed for that year in the agreement.

For the purposes of this section and section 1029.8.36.166.40.2, an associated group in a taxation year means all the corporations that are associated with each other in the year.

For the purposes of subparagraph a of the first paragraph and subparagraph b of the second paragraph, a corporation’s share of the portion of the eligible expenses, in respect of a qualified property, of a partnership for a fiscal period is equal to the agreed proportion of that portion of the expenses in respect of the corporation for the fiscal period.

2010, c. 25, s. 172; 2015, c. 21, s. 460; 2015, c. 24, s. 143.

2015-10-21

1029.8.36.166.40.1. For the purposes of this division, the balance of a qualified corporation’s cumulative eligible expense limit for a particular taxation year is equal,

(a)  if the qualified corporation is not a member of an associated group in the particular year, to the amount by which $75,000,000 exceeds the aggregate of all amounts each of which is the amount of the portion of the qualified corporation’s eligible expenses, in respect of a qualified property, for a given taxation year that ends in a 24-month period preceding the beginning of the particular year, or its share of the portion of a partnership’s eligible expenses, in respect of a qualified property, for a fiscal period of the partnership that ends in such a given taxation year, that are referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.43 or 1029.8.36.166.44 and in respect of which an amount is deemed to have been paid to the Minister by the corporation for the given year under section 1029.8.36.166.43 or 1029.8.36.166.44 or would be so deemed to have been paid but for the third paragraph of that section; or

(b)  if the qualified corporation is a member of an associated group in the particular year, to the amount attributed for the particular year to the qualified corporation pursuant to the agreement described in the second paragraph and filed with the Minister in the prescribed form or, if no amount is attributed to the qualified corporation pursuant to that agreement or in the absence of such an agreement, to zero or to the amount attributed to it by the Minister, if applicable, for the particular year in accordance with this division.

The agreement to which subparagraph b of the first paragraph refers, in respect of a particular taxation year of the qualified corporation, is the agreement under which all the corporations that are members of the associated group in the particular taxation year attribute, for the purposes of this section, to one or more of the corporations that are members of the associated group, for the particular taxation year, one or more amounts the total of which is not greater than the amount by which $75,000,000 exceeds the aggregate of all amounts each of which is

(a)  the amount of the portion of the eligible expenses of a corporation that is a member of the associated group in the particular year in respect of a qualified property, for a taxation year that ends in a 24-month period preceding the beginning of the particular year, that are referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.43 and in respect of which an amount is deemed to have been paid to the Minister by the corporation under section 1029.8.36.166.43 or would be so deemed to have been paid but for the third paragraph of that section; or

(b)  the amount of the share of a corporation that is a member of the associated group in the year of the portion of the eligible expenses of a partnership, in respect of a qualified property, for a fiscal period of the partnership that ended in a taxation year of the corporation that ends in a 24-month period preceding the beginning of the particular year, that are referred to in subparagraph i of subparagraph a of the first paragraph of section 1029.8.36.166.44 and in respect of which an amount is deemed to have been paid to the Minister by the corporation under section 1029.8.36.166.44 or would be so deemed to have been paid but for the third paragraph of that section.

If the aggregate of the amounts attributed, in respect of a taxation year, in an agreement described in the second paragraph and entered into with the corporations that are members of an associated group in the year is greater than the excess amount determined under that paragraph, the amount determined under subparagraph b of the first paragraph in respect of each of those corporations for that taxation year is deemed, for the purposes of this section, to be equal to the proportion of that excess amount that that amount is of the aggregate of the amounts attributed for that year in the agreement.

For the purposes of this section and section 1029.8.36.166.40.2, an associated group in a taxation year means all the corporations that are associated with each other in the year.

For the purposes of subparagraph a of the first paragraph and subparagraph b of the second paragraph, a corporation’s share of the portion of the eligible expenses, in respect of a qualified property, of a partnership for a fiscal period is equal to the agreed proportion of that portion of the expenses in respect of the corporation for the fiscal period.

2010, c. 25, s. 172; 2015, c. 21, s. 460.

2010-10-27

1029.8.36.166.40.1. For the purposes of this division, the balance of a qualified corporation’s cumulative eligible expense limit for a particular taxation year is equal,

(a)  if the qualified corporation is not a member of an associated group in the particular year, to the amount by which $75,000,000 exceeds the aggregate of all amounts each of which is the amount of the portion of the qualified corporation’s eligible expenses, in respect of a qualified property, for a given taxation year that ends in a 24-month period preceding the beginning of the particular year, or its share of the portion of a partnership’s eligible expenses, in respect of a qualified property, for a fiscal period of the partnership that ends in such a given taxation year, that are referred to in subparagraph a of the first paragraph of section 1029.8.36.166.43 or 1029.8.36.166.44 and in respect of which an amount is deemed to have been paid to the Minister by the corporation for the given year under section 1029.8.36.166.43 or 1029.8.36.166.44 or would be so deemed to have been paid but for the third paragraph of that section; or

(b)  if the qualified corporation is a member of an associated group in the particular year, to the amount attributed for the particular year to the qualified corporation pursuant to the agreement described in the second paragraph and filed with the Minister in the prescribed form or, if no amount is attributed to the qualified corporation pursuant to that agreement or in the absence of such an agreement, to zero or to the amount attributed to it by the Minister, if applicable, for the particular year in accordance with this division.

The agreement to which subparagraph b of the first paragraph refers, in respect of a particular taxation year of the qualified corporation, is the agreement under which all the corporations that are members of the associated group in the particular taxation year attribute, for the purposes of this section, to one or more of the corporations that are members of the associated group, for the particular taxation year, one or more amounts the total of which is not greater than the amount by which $75,000,000 exceeds the aggregate of all amounts each of which is

(a)  the amount of the portion of the eligible expenses of a corporation that is a member of the associated group in the particular year in respect of a qualified property, for a taxation year that ends in a 24-month period preceding the beginning of the particular year, which are referred to in subparagraph a of the first paragraph of section 1029.8.36.166.43 and in respect of which an amount is deemed to have been paid to the Minister by the corporation under section 1029.8.36.166.43 or would be so deemed to have been paid but for the third paragraph of that section; or

(b)  the amount of the share of a corporation that is a member of the associated group in the year of the portion of the eligible expenses of a partnership, in respect of a qualified property, for a fiscal period of the partnership that ended in a taxation year of the corporation that ends in a 24-month period preceding the beginning of the particular year, which are referred to in subparagraph a of the first paragraph of section 1029.8.36.166.44 and in respect of which an amount is deemed to have been paid to the Minister by the corporation under section 1029.8.36.166.44 or would be so deemed to have been paid but for the third paragraph of that section.

If the aggregate of the amounts attributed, in respect of a taxation year, in an agreement described in the second paragraph and entered into with the corporations that are members of an associated group in the year is greater than the excess amount determined under that paragraph, the amount determined under subparagraph b of the first paragraph in respect of each of those corporations for that taxation year is deemed, for the purposes of this section, to be equal to the proportion of that excess amount that that amount is of the aggregate of the amounts attributed for that year in the agreement.

For the purposes of this section and section 1029.8.36.166.40.2, an associated group in a taxation year means all the corporations that are associated with each other in the year.

For the purposes of subparagraph a of the first paragraph and subparagraph b of the second paragraph, a corporation’s share of the portion of the eligible expenses, in respect of a qualified property, of a partnership for a fiscal period is equal to the agreed proportion of that portion of the expenses in respect of the corporation for the fiscal period.

2010, c. 25, s. 172.