I-3 - Taxation Act

Section 1053.2 Disposition versions

2006-03-01

1053.2. Where, as a consequence of the application of section 771.5.1, the amount of an overpayment for a taxation year by a qualified corporation within the meaning of sections 771.5 to 771.7 is refunded to, or applied to another liability of, the qualified corporation, the qualified corporation’s tax payable under this Part for the taxation year is, for the purpose of computing interest to be paid pursuant to section 1052 in respect of that part of the period referred to therein preceding the time the corporation filed the return referred to therein in accordance with section 771.5.1, deemed to be equal to the tax that the corporation would have been required to pay had it not been a qualified corporation within the meaning of sections 771.5 to 771.7.

1990, c. 7, s. 204; 1995, c. 63, s. 261; 1996, c. 39, s. 273; 1997, c. 3, s. 71; 1999, c. 83, s. 236.