I-3 - Taxation Act

Section 1029.8.36.72.82.14 Disposition versions

2017-02-08

1029.8.36.72.82.14. A qualified corporation that is not associated with any other corporation at the end of a calendar year within the qualified corporation’s eligibility period and that encloses the documents referred to in the third paragraph with the fiscal return the qualified corporation is required to file under section 1000 for the taxation year in which the calendar year ends, is deemed, subject to the second paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for that taxation year, on account of its tax payable for that taxation year under this Part, an amount equal to the aggregate of

(a)  the result obtained by multiplying the percentage specified in subparagraph a of the fourth paragraph by the particular amount that is the amount by which the lesser of the following amounts exceeds the particular amount determined for the calendar year in accordance with subparagraph a.1:

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, ended in the calendar year, for which the employee is an eligible employee, and

ii.  the amount by which the qualified corporation’s eligible amount for the calendar year exceeds the qualified corporation’s base amount ;

(a.1)  the result obtained by multiplying the percentage in subparagraph b of the fourth paragraph by the particular amount that is the least of

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, ended in the calendar year, for which the employee is an eligible employee, to the extent that the salary or wages may reasonably be attributed to an activity referred to in any of paragraphs b and d to f of the definition of “eligible region” in the first paragraph of section 1029.8.36.72.82.13,

ii.  the amount by which the amount that would be the qualified corporation’s eligible amount for the calendar year exceeds the amount that would be the qualified corporation’s base amount if, for the purposes of the definitions of “base amount” and “eligible amount” in the first paragraph of section 1029.8.36.72.82.13, only the portion of the salary or wages of an employee that may reasonably be attributed to an activity referred to in any of paragraphs b and d to f of the definition of “eligible region” in the first paragraph of that section were considered, and

iii.  the lesser of the amount determined for the calendar year in accordance with subparagraph i of subparagraph a and the amount determined for that year in accordance with subparagraph ii of subparagraph a; and

(b)  the aggregate of

i.  the result obtained by multiplying the percentage specified in subparagraph b of the fourth paragraph by the portion of the qualified corporation’s eligible repayment of assistance for the taxation year that may reasonably be attributed to the aggregate of all amounts each of which is an amount referred to in any of paragraphs a.1, b.1 and d of the definition of “eligible repayment of assistance” in the first paragraph of section 1029.8.36.72.82.13, and

ii.  the result obtained by multiplying the percentage specified in subparagraph a of the fourth paragraph by the amount by which the qualified corporation’s eligible repayment of assistance for the taxation year exceeds the portion of the qualified corporation’s eligible repayment of assistance for the taxation year determined in accordance with subparagraph i.

For the purpose of computing the payments that a qualified corporation is required to make under 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 qualified corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its 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 this division, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of all certificates and qualification certificates issued to the qualified corporation for the year in respect of a recognized business and its eligible employees.

The percentages to which the following provisions of the first paragraph refer are the following, as applicable:

(a)  for the portion of subparagraph a before subparagraph i and for subparagraph ii of subparagraph b:

i.  36% for the taxation year in which the calendar year 2014 ends,

ii.  32% for the taxation year in which the calendar year 2015 ends,

ii.1.  30% for a taxation year in which a calendar year subsequent to the calendar year 2015 ends, and

iii.  40% for any other taxation year; and

(b)  for the portion of subparagraph a.1 before subparagraph i and for subparagraph i of subparagraph b:

i.  18% for the taxation year in which the calendar year 2014 ends,

ii.  16% for the taxation year in which the calendar year 2015 ends,

ii.1.  15% for a taxation year in which a calendar year subsequent to the calendar year 2015 ends, and

iii.  20% for any other taxation year.

For the purposes of subparagraph i of subparagraphs a and a.1 of the first paragraph, the aggregate of all amounts each of which is the salary or wages paid by a corporation to an employee in respect of a pay period, ended in a calendar year subsequent to the calendar year 2015, for which the employee is an eligible employee of the corporation, determined after the application of subparagraph a of the first paragraph of section 1029.8.36.72.82.18, if applicable, may not exceed, in respect of the employee, the amount obtained by multiplying $83,333 by the proportion that the number of days in each pay period, ended in the calendar year, for which the employee is an eligible employee of the corporation is of 365.

2005, c. 23, s. 210; 2010, c. 25, s. 161; 2012, c. 8, s. 226; 2015, c. 21, s. 457; 2017, c. 1, s. 285.

2015-10-21

1029.8.36.72.82.14. A qualified corporation that is not associated with any other corporation at the end of a calendar year within the qualified corporation’s eligibility period and that encloses the documents referred to in the third paragraph with the fiscal return the qualified corporation is required to file under section 1000 for the taxation year in which the calendar year ends, is deemed, subject to the second paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for that taxation year, on account of its tax payable for that taxation year under this Part, an amount equal to the aggregate of

(a)  the result obtained by multiplying the percentage specified in subparagraph a of the fourth paragraph by the particular amount that is the amount by which the lesser of the following amounts exceeds the particular amount determined for the calendar year in accordance with subparagraph a.1:

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, ended in the calendar year, for which the employee is an eligible employee, and

ii.  the amount by which the qualified corporation’s eligible amount for the calendar year exceeds the qualified corporation’s base amount;

(a.1)  the result obtained by multiplying the percentage in subparagraph b of the fourth paragraph by the particular amount that is the least of

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, ended in the calendar year, for which the employee is an eligible employee, to the extent that the salary or wages may reasonably be attributed to an activity referred to in paragraph b of the definition of “eligible region” in the first paragraph of section 1029.8.36.72.82.13,

ii.  the amount by which the amount that would be the qualified corporation’s eligible amount for the calendar year exceeds the amount that would be the qualified corporation’s base amount if, for the purposes of the definitions of “base amount” and “eligible amount” in the first paragraph of section 1029.8.36.72.82.13, only the portion of the salary or wages of an employee that may reasonably be attributed to an activity referred to in paragraph b of the definition of “eligible region” in the first paragraph of that section were considered, and

iii.  the lesser of the amount determined for the calendar year in accordance with subparagraph i of subparagraph a and the amount determined for that year in accordance with subparagraph ii of subparagraph a; and

(b)  the aggregate of

i.  the result obtained by multiplying the percentage specified in subparagraph b of the fourth paragraph by the portion of the qualified corporation’s eligible repayment of assistance for the taxation year that may reasonably be attributed to the aggregate of all amounts each of which is an amount referred to in any of paragraphs a.1, b.1 and d of the definition of “eligible repayment of assistance” in the first paragraph of section 1029.8.36.72.82.13, and

ii.  the result obtained by multiplying the percentage specified in subparagraph a of the fourth paragraph by the amount by which the qualified corporation’s eligible repayment of assistance for the taxation year exceeds the portion of the qualified corporation’s eligible repayment of assistance for the taxation year determined in accordance with subparagraph i.

For the purpose of computing the payments that a qualified corporation is required to make under 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 qualified corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its 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 this division, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of all certificates and qualification certificates issued to the qualified corporation for the year in respect of a recognized business and its eligible employees.

The percentages to which the following provisions of the first paragraph refer are the following, as applicable:

(a)  for the portion of subparagraph a before subparagraph i and for subparagraph ii of subparagraph b:

i.  36% for the taxation year in which the calendar year 2014 ends,

ii.  32% for the taxation year in which the calendar year 2015 ends, and

iii.  40% for any other taxation year; and

(b)  for the portion of subparagraph a.1 before subparagraph i and for subparagraph i of subparagraph b:

i.  18% for the taxation year in which the calendar year 2014 ends,

ii.  16% for the taxation year in which the calendar year 2015 ends, and

iii.  20% for any other taxation year.

2005, c. 23, s. 210; 2010, c. 25, s. 161; 2012, c. 8, s. 226; 2015, c. 21, s. 457.

2012-05-09

1029.8.36.72.82.14. A qualified corporation that is not associated with any other corporation at the end of a calendar year within the qualified corporation’s eligibility period and that encloses the documents referred to in the third paragraph with the fiscal return the qualified corporation is required to file under section 1000 for the taxation year in which the calendar year ends, is deemed, subject to the second paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for that taxation year, on account of its tax payable for that taxation year under this Part, an amount equal to the aggregate of

(a)  40% of the particular amount that is the amount by which the particular amount determined for the calendar year in accordance with subparagraph a.1 is exceeded by the lesser of

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, ended in the calendar year, for which the employee is an eligible employee, and

ii.  the amount by which the qualified corporation’s eligible amount for the calendar year exceeds the qualified corporation’s base amount;

(a.1)  20% of the particular amount that is the least of

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, ended in the calendar year, for which the employee is an eligible employee, to the extent that the salary or wages may reasonably be attributed to an activity referred to in paragraph b of the definition of “eligible region” in the first paragraph of section 1029.8.36.72.82.13,

ii.  the amount by which the amount that would be the qualified corporation’s eligible amount for the calendar year exceeds the amount that would be the qualified corporation’s base amount if, for the purposes of the definitions of “base amount” and “eligible amount” in the first paragraph of section 1029.8.36.72.82.13, only the portion of the salary or wages of an employee that may reasonably be attributed to an activity referred to in paragraph b of the definition of “eligible region” in the first paragraph of that section were considered, and

iii.  the lesser of the amount determined for the calendar year in accordance with subparagraph i of subparagraph a and the amount determined for that year in accordance with subparagraph ii of subparagraph a; and

(b)  the aggregate of

i.  20% of the portion of the corporation’s eligible repayment of assistance for the taxation year that may reasonably be attributed to the aggregate of all amounts each of which is an amount referred to in any of paragraphs a.1, b.1 and d of the definition of “eligible repayment of assistance” in the first paragraph of section 1029.8.36.72.82.13, and

ii.  40% of the amount by which the corporation’s eligible repayment of assistance for the taxation year exceeds the portion of the corporation’s eligible repayment of assistance for the taxation year determined in accordance with subparagraph i.

For the purpose of computing the payments that a qualified corporation is required to make under 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 qualified corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its 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 this division, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of all certificates and qualification certificates issued to the qualified corporation for the year in respect of a recognized business and its eligible employees.

2005, c. 23, s. 210; 2010, c. 25, s. 161; 2012, c. 8, s. 226.

2010-10-27

1029.8.36.72.82.14. A qualified corporation that is not associated with any other corporation at the end of a calendar year within the qualified corporation’s eligibility period and that encloses the documents referred to in the third paragraph with the fiscal return the qualified corporation is required to file under section 1000 for the taxation year in which the calendar year ends, is deemed, subject to the second paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for that taxation year, on account of its tax payable for that taxation year under this Part, an amount equal to the aggregate of

(a)  40% of the particular amount that is the amount by which the particular amount determined for the calendar year in accordance with subparagraph a.1 is exceeded by the lesser of

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, ended in the calendar year, for which the employee is an eligible employee, and

ii.  the amount by which the qualified corporation’s eligible amount for the calendar year exceeds the qualified corporation’s base amount;

(a.1)  20% of the particular amount that is the least of

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, ended in the calendar year, for which the employee is an eligible employee, to the extent that the salary or wages may reasonably be attributed to an activity referred to in paragraph b of the definition of “eligible region” in the first paragraph of section 1029.8.36.72.82.13,

ii.  the amount by which the amount that would be the qualified corporation’s eligible amount for the calendar year exceeds the amount that would be the qualified corporation’s base amount if, for the purposes of the definitions of “base amount” and “eligible amount” in the first paragraph of section 1029.8.36.72.82.13, only the portion of the salary or wages of an employee that may reasonably be attributed to an activity referred to in paragraph b of the definition of “eligible region” in the first paragraph of that section were considered, and

iii.  the lesser of the amount determined for the calendar year in accordance with subparagraph i of subparagraph a and the amount determined for that year in accordance with subparagraph ii of subparagraph a; and

(b)  the aggregate of

i.  20% of the portion of the corporation’s eligible repayment of assistance for the taxation year that may reasonably be attributed to the aggregate of all amounts each of which is an amount referred to in any of paragraphs a.1, b.1 and d of the definition of “eligible repayment of assistance” in the first paragraph of section 1029.8.36.72.82.13, and

ii.  40% of the amount by which the corporation’s eligible repayment of assistance for the taxation year exceeds the portion of the corporation’s eligible repayment of assistance for the taxation year determined in accordance with subparagraph i.

For the purpose of computing the payments that a qualified corporation is required to make under 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 qualified corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its 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 this division, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of all unrevoked certificates and qualification certificates issued to the qualified corporation for the year in respect of a recognized business and its eligible employees.

2005, c. 23, s. 210; 2010, c. 25, s. 161.

2006-03-01

1029.8.36.72.82.14. A qualified corporation that is not associated with any other corporation at the end of a calendar year within the qualified corporation’s eligibility period and that encloses the documents referred to in the third paragraph with the fiscal return the qualified corporation is required to file under section 1000 for the taxation year in which the calendar year ends, is deemed, subject to the second paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for that taxation year, on account of its tax payable for that taxation year under this Part, an amount equal to 40% of the aggregate of

(a)  the lesser of

i.  the aggregate of all amounts each of which is the salary or wages paid by the qualified corporation to an employee in respect of a pay period, within the calendar year, for which the employee is an eligible employee, and

ii.  the amount by which the qualified corporation’s eligible amount for the calendar year exceeds the qualified corporation’s base amount; and

(b)  the eligible repayment of assistance of the qualified corporation for the taxation year.

For the purpose of computing the payments that a qualified corporation is required to make under 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 qualified corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its 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 this division, to have been paid to the Minister on that date, for the purpose of computing that payment.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of all unrevoked certificates and qualification certificates issued to the qualified corporation for the year in respect of a recognized business and its eligible employees.

2005, c. 23, s. 210.