I-3 - Taxation Act

Section 1029.8.36.53.24 Disposition versions

2021-06-02

1029.8.36.53.24. (Repealed).

2010, c. 5, s. 157; 2011, c. 34, s. 90; 2021, c. 14, s. 144.

2011-12-09

1029.8.36.53.24. If a partnership acquires a recognized energy-efficient vehicle or leases such a vehicle under a long-term leasing contract at a time in a fiscal period that occurs after 31 December 2008 and before 1 January 2012, every qualifying person who is a member of the partnership at the end of that fiscal period and encloses the prescribed form containing prescribed information with the fiscal return the qualifying person is required to file under section 1000 for the qualifying person’s taxation year in which that fiscal period ends, or would be required to so file if the qualifying person had tax payable for the year under this Part, is deemed, subject to the second paragraph, to have paid to the Minister, on the qualifying person’s balance-due day for that year, on account of the qualifying person’s tax payable for that year under this Part, an amount equal to the qualifying person’s share of the amount determined under section 1029.8.36.53.25 or 1029.8.36.53.26, in relation to the recognized energy-efficient vehicle, depending on whether the partnership acquires or leases it.

For the purpose of computing the payments that a person referred to in the first paragraph is required to make under section 1025 or 1026, subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, for the person’s taxation year in which the fiscal period of the partnership ends, the person is deemed to have paid to the Minister, on account of the aggregate of the person’s tax payable for the year under this Part and of the person’s 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.

For the purposes of the first paragraph, a qualifying person’s share of an amount for a fiscal period of a partnership is equal to the agreed proportion of the amount in respect of the qualifying person for the partnership’s fiscal period.

2010, c. 5, s. 157; 2011, c. 34, s. 90.

2010-04-20

1029.8.36.53.24. If a partnership acquires a recognized energy-efficient vehicle or leases such a vehicle under a long-term leasing contract at a time in a fiscal period that occurs after 31 December 2008 and before 1 January 2016, every qualifying person who is a member of the partnership at the end of that fiscal period and encloses the prescribed form containing prescribed information with the fiscal return the qualifying person is required to file under section 1000 for the qualifying person’s taxation year in which that fiscal period ends, or would be required to so file if the qualifying person had tax payable for the year under this Part, is deemed, subject to the second paragraph, to have paid to the Minister, on the qualifying person’s balance-due day for that year, on account of the qualifying person’s tax payable for that year under this Part, an amount equal to the qualifying person’s share of the amount determined under section 1029.8.36.53.25 or 1029.8.36.53.26, in relation to the recognized energy-efficient vehicle, depending on whether the partnership acquires or leases it.

For the purpose of computing the payments that a person referred to in the first paragraph is required to make under section 1025 or 1026, subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, for the person’s taxation year in which the fiscal period of the partnership ends, the person is deemed to have paid to the Minister, on account of the aggregate of the person’s tax payable for the year under this Part and of the person’s 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.

For the purposes of the first paragraph, a qualifying person’s share of an amount for a fiscal period of a partnership is equal to the agreed proportion of the amount in respect of the qualifying person for the partnership’s fiscal period.

2010, c. 5, s. 157.