I-3 - Taxation Act

Section 1029.8.36.59.27 Disposition versions

2010-10-27

1029.8.36.59.27. (Repealed).

2005, c. 1, s. 244; 2006, c. 36, s. 162; 2010, c. 25, s. 139.

2006-12-06

1029.8.36.59.27. Where a taxpayer pays, in a taxation year, in this section referred to as the “repayment year”, pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.59.21 that was taken into account for the purpose of computing qualified wages incurred by the taxpayer in respect of an eligible employee in a particular taxation year and in respect of which the taxpayer is deemed to have paid an amount to the Minister under section 1029.8.36.59.24 for the particular taxation year, the taxpayer is deemed, if the taxpayer encloses with the fiscal return the taxpayer is required to file for the repayment year under section 1000, or would be required to so file if the taxpayer had tax payable for the repayment year under this Part, the prescribed form containing the prescribed information, to have paid to the Minister on the taxpayer’s balance-due day for the repayment year, on account of the taxpayer’s tax payable for that year under this Part, an amount equal to the amount by which the amount that the taxpayer would be deemed to have paid to the Minister for the particular year under section 1029.8.36.59.24, in respect of the qualified wages, if any amount of such assistance so repaid at or before the end of the repayment year had reduced, for the particular year, the aggregate determined under that paragraph b, exceeds the aggregate of

(a)  the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.24 for the particular year in respect of the qualified wages; and

(b)  any amount that the taxpayer is deemed to have paid to the Minister for a taxation year preceding the repayment year under this section in respect of an amount of repayment of that assistance.

2005, c. 1, s. 244; 2006, c. 36, s. 162.

2006-03-01

1029.8.36.59.27. Where a taxpayer pays, in a taxation year, in this section referred to as the "repayment year", pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance referred to in paragraph b of the definition of "qualified wages" in the first paragraph of section 1029.8.36.59.21 that was taken into account for the purpose of computing qualified wages incurred by the taxpayer in respect of an eligible employee in a particular taxation year and in respect of which the taxpayer is deemed to have paid an amount to the Minister under section 1029.8.36.59.24 for the particular taxation year, the taxpayer is deemed, subject to the second paragraph, if the taxpayer encloses with the fiscal return the taxpayer is required to file for the repayment year under section 1000, or would be required to so file if the taxpayer had tax payable for the repayment year under this Part, the prescribed form containing the prescribed information, to have paid to the Minister on the taxpayer’s balance-due day for the repayment year, on account of the taxpayer’s tax payable for that year under this Part, an amount equal to the amount by which the amount that the taxpayer would be deemed to have paid to the Minister for the particular year under section 1029.8.36.59.24, in respect of the qualified wages, if any amount of such assistance so repaid at or before the end of the repayment year had reduced, for the particular year, the aggregate determined under that paragraph b, exceeds the aggregate of

(a)  the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.24 for the particular year in respect of the qualified wages; and

(b)  any amount that the taxpayer is deemed to have paid to the Minister for a taxation year preceding the repayment year under this section in respect of an amount of repayment of that assistance.

For the purpose of computing the payments that a taxpayer 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 where they refer to that subparagraph a, the taxpayer is deemed to have paid to the Minister, on account of the aggregate of the taxpayer’s tax payable for the year under this Part and of the taxpayer’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 the 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.

2005, c. 1, s. 244.