I-3 - Taxation Act

Section 1029.8.36.59.7 Disposition versions

2010-10-27

1029.8.36.59.7. (Repealed).

2000, c. 39, s. 181; 2002, c. 40, s. 168; 2005, c. 23, s. 191; 2006, c. 36, s. 153; 2010, c. 25, s. 138.

2006-12-06

1029.8.36.59.7. Where, before 31 March 2006, a taxpayer who is a member of a partnership pays, in a fiscal period of the partnership, in this section referred to as the “fiscal period of repayment”, pursuant to a legal obligation, an amount that may reasonably be considered to be repayment of government assistance or non-government assistance that reduced, because of subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.59.4, the taxpayer’s share, for a particular fiscal period of the partnership, of the property taxes of the partnership, for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.3 in respect of that share, for the taxpayer’s taxation year in which the particular fiscal period ended, the taxpayer is deemed to have paid to the Minister on the taxpayer’s balance-due day for the taxpayer’s taxation year in which the fiscal period of repayment ends, on account of the taxpayer’s tax payable for that year under this Part, if the taxpayer encloses the prescribed form with the fiscal return the taxpayer is required to file for that year under section 1000 and is a member of the partnership at the end of the fiscal period of repayment, an amount equal to the amount by which

(a)  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.3 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of that share, if

i.  any amount of such assistance so repaid at or before the end of the fiscal period of repayment, reduced, for the particular fiscal period, the amount of any government assistance or non-government assistance referred to in subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.59.4, and

ii.  the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment; exceeds

(b)  the aggregate of

i.  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.3 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of that share, if the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment, and

ii.  any amount that the taxpayer would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends in respect of an amount of that assistance repaid by the taxpayer, if the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment.

2000, c. 39, s. 181; 2002, c. 40, s. 168; 2005, c. 23, s. 191; 2006, c. 36, s. 153.

2006-03-01

1029.8.36.59.7. Where, before 31 March 2006, a taxpayer who is a member of a partnership pays, in a fiscal period of the partnership, in this section referred to as the "fiscal period of repayment", pursuant to a legal obligation, an amount that may reasonably be considered to be repayment of government assistance or non-government assistance that reduced, because of subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.59.4, the taxpayer’s share, for a particular fiscal period of the partnership, of the property taxes of the partnership, for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.3 in respect of that share, for the taxpayer’s taxation year in which the particular fiscal period ended, the taxpayer is deemed to have paid to the Minister on the taxpayer’s balance-due day for the taxpayer’s taxation year in which the fiscal period of repayment ends, on account of the taxpayer’s tax payable for that year under this Part, if the taxpayer encloses the prescribed form with the fiscal return the taxpayer is required to file for that year under section 1000 and is a member of the partnership at the end of the fiscal period of repayment, an amount equal to the amount by which

(a)  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.3 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of that share, if

i.  any amount of such assistance so repaid at or before the end of the fiscal period of repayment, had reduced, for the particular fiscal period, the amount of any government assistance or non-government assistance referred to in subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.59.4, and

ii.  the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment; exceeds

(b)  the aggregate of

i.  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.3 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of that share, if the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment, and

ii.  any amount that the taxpayer would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends in respect of an amount of that assistance repaid by the taxpayer, if the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment.

2000, c. 39, s. 181; 2002, c. 40, s. 168; 2005, c. 23, s. 191.