I-3 - Taxation Act

Section 1029.8.36.166.59 Disposition versions

2010-10-27

1029.8.36.166.59. For the purpose of computing the amount that a corporation is deemed to have paid to the Minister under section 1029.8.36.166.46 for a particular taxation year in respect of the unused portion of the tax credit of the corporation for a particular preceding taxation year, the unused portion of the tax credit of the corporation, otherwise determined, must, if the conditions set out in the second paragraph are met for the particular year or for a preceding taxation year (each of which is referred to in this section as a “year of increase”), be increased by the aggregate of all amounts each of which is the excess amount referred to in subparagraph b of the second paragraph for a year of increase.

For the purposes of the first paragraph, the conditions that must be met for a year of increase are as follows:

(a)  any of sections 1029.8.36.166.55 to 1029.8.36.166.58 applies for the year of increase to the corporation in relation to a particular amount that may reasonably be considered to be a repayment, made in the year of increase or in the fiscal period of a partnership ending in the year of increase, of government assistance or non-government assistance that reduced, because of section 1029.8.36.166.52, the eligible expenses of the corporation, in respect of a qualified property, for the particular preceding year or the corporation’s share of the eligible expenses of the partnership, in respect of a qualified property, for a fiscal period of the partnership ending in the particular preceding year; and

(b)  the amount determined under the third paragraph exceeds the amount determined under the fourth paragraph.

The first amount to which subparagraph b of the second paragraph refers is the total amount that the corporation would be deemed to have paid to the Minister for the particular preceding year under sections 1029.8.36.166.43 and 1029.8.36.166.44 if

(a)  no reference were made to the third paragraph of sections 1029.8.36.166.43 and 1029.8.36.166.44;

(b)  where section 1029.8.36.166.56 or 1029.8.36.166.57 applies for the year of increase to the corporation, the agreed proportion in respect of the corporation for the fiscal period of the partnership ending in the particular preceding year were the same as that for the year of increase; and

(c)  any particular amount referred to in subparagraph a of the second paragraph that may reasonably be considered to be a repayment of government assistance or non-government assistance referred to in that subparagraph a reduced the amount of government assistance or non-government assistance.

The second amount to which subparagraph b of the second paragraph refers is the aggregate of

(a)  the amount that would be determined under the third paragraph if no reference were made to subparagraph c of that paragraph; and

(b)  the total amount that the corporation is deemed to have paid to the Minister for the year of increase under sections 1029.8.36.166.55 to 1029.8.36.166.57.

2009, c. 15, s. 303; 2010, c. 25, s. 178.

2009-06-04

1029.8.36.166.59. For the purpose of computing the amount that a corporation is deemed to have paid to the Minister under section 1029.8.36.166.46 for a particular taxation year in respect of the unused portion of the tax credit of the corporation for a particular preceding taxation year, the unused portion of the tax credit of the corporation, otherwise determined, must, if the conditions set out in the second paragraph are met for the particular year or for a preceding taxation year (each of which is referred to in this section as a “year of increase”), be increased by the aggregate of all amounts each of which is the excess amount referred to in subparagraph b of the second paragraph for a year of increase.

For the purposes of the first paragraph, the conditions that must be met for a year of increase are as follows:

(a)  any of sections 1029.8.36.166.55 to 1029.8.36.166.58 applies for the year of increase to the corporation in relation to a particular amount that may reasonably be considered to be a repayment, made in the year of increase or in the fiscal period of a partnership ending in the year of increase, of government assistance or non-government assistance that reduced, because of section 1029.8.36.166.52, the eligible expenses of the corporation, in respect of a qualified property, for the particular preceding year or the corporation’s share of the eligible expenses of the partnership, in respect of a qualified property, for a fiscal period of the partnership ending in the particular preceding year; and

(b)  the amount determined under the third paragraph exceeds the amount determined under the fourth paragraph.

The first amount to which subparagraph b of the second paragraph refers is the total amount that the corporation would be deemed to have paid to the Minister for the particular preceding year under sections 1029.8.36.166.43 and 1029.8.36.166.44 if

(a)  no reference were made to the second paragraph of sections 1029.8.36.166.43 and 1029.8.36.166.44;

(b)  where section 1029.8.36.166.56 or 1029.8.36.166.57 applies for the year of increase to the corporation, the agreed proportion in respect of the corporation for the fiscal period of the partnership ending in the particular preceding year were the same as that for the year of increase; and

(c)  any particular amount referred to in subparagraph a of the second paragraph that may reasonably be considered to be a repayment of government assistance or non-government assistance referred to in that subparagraph a reduced the amount of government assistance or non-government assistance.

The second amount to which subparagraph b of the second paragraph refers is the aggregate of

(a)  the amount that would be determined under the third paragraph if no reference were made to subparagraph c of that paragraph; and

(b)  the total amount that the corporation is deemed to have paid to the Minister for the year of increase under sections 1029.8.36.166.55 to 1029.8.36.166.57.

2009, c. 15, s. 303.