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I-3 - Taxation Act
Section 1129.27.4.2
Disposition versions
1129.27.4.2. The Corporation is required to pay, for a particular capitalization period, a tax under this Part equal to any of the following amounts:
(a) if the particular capitalization period begins on 24 March 2006 and ends on 28 February 2007, 35% of the amount by which $725,000,000 is exceeded by the paid-up capital of the shares of the capital stock of the Corporation at the end of the particular capitalization period;
(b) if the particular capitalization period begins after 28 February 2007 and before 1 March 2014, the amount determined by the formula
50% × (A - B);
(c) if the particular capitalization period begins after 28 February 2014 and before 1 March 2016, the amount determined by the formula
45% × (A - B);
(d) if the particular capitalization period begins after 29 February 2016 and before 1 March 2018, the amount determined by the formula
40% × (A – B); or
(e) if the particular capitalization period begins after 28 February 2018 and before 1 March 2021, the amount determined by the formula
35 % × (A − B);
(f) if the particular capitalization period begins after 28 February 2021, the amount determined by the formula
30% × (A − B).
In the formula in subparagraph b of the first paragraph,
(a) A is the paid-up capital of the class “A” shares of the capital stock of the Corporation issued during the particular capitalization period; and
(b) B is the annual limit amount applicable in respect of the particular capitalization period.
1129.27.4.2. The Corporation is required to pay, for a particular capitalization period, a tax under this Part equal to any of the following amounts:
(a) if the particular capitalization period begins on 24 March 2006 and ends on 28 February 2007, 35% of the amount by which $725,000,000 is exceeded by the paid-up capital of the shares of the capital stock of the Corporation at the end of the particular capitalization period;
(b) if the particular capitalization period begins after 28 February 2007 and before 1 March 2014, the amount determined by the formula
50% × (A - B);
(c) if the particular capitalization period begins after 28 February 2014 and before 1 March 2016, the amount determined by the formula
45% × (A - B);
(d) if the particular capitalization period begins after 29 February 2016 and before 1 March 2018, the amount determined by the formula
40% × (A – B); or
(e) if the particular capitalization period begins after 28 February 2018, the amount determined by the formula
35 % × (A − B).
In the formula in subparagraph b of the first paragraph,
(a) A is the paid-up capital of the class “A” shares of the capital stock of the Corporation issued during the particular capitalization period; and
(b) B is the annual limit amount applicable in respect of the particular capitalization period.
1129.27.4.2. The Corporation is required to pay, for a particular capitalization period, a tax under this Part equal to any of the following amounts:
(a) if the particular capitalization period begins on 24 March 2006 and ends on 28 February 2007, 35% of the amount by which $725,000,000 is exceeded by the paid-up capital of the shares of the capital stock of the Corporation at the end of the particular capitalization period;
(b) if the particular capitalization period begins after 28 February 2007 and before 1 March 2014, the amount determined by the formula
50% × (A - B);
(c) if the particular capitalization period begins after 28 February 2014 and before 1 March 2016, the amount determined by the formula
45% × (A - B); or
(d) if the particular capitalization period begins after 29 February 2016, the amount determined by the formula
40% × (A – B).
In the formula in subparagraph b of the first paragraph,
(a) A is the paid-up capital of the shares of the capital stock of the Corporation issued during the particular capitalization period; and
(b) B is the annual limit amount applicable in respect of the particular capitalization period.
1129.27.4.2. The Corporation is required to pay, for a particular capitalization period, a tax under this Part equal to any of the following amounts:
(a) if the particular capitalization period begins on 24 March 2006 and ends on 28 February 2007, 35% of the amount by which $725,000,000 is exceeded by the paid-up capital of the shares of the capital stock of the Corporation at the end of the particular capitalization period;
(b) if the particular capitalization period begins after 28 February 2007 and before 1 March 2014, the amount determined by the formula
50% × (A - B); or
(c) if the particular capitalization period begins after 28 February 2014, the amount determined by the formula
45% × (A - B).
In the formula in subparagraph b of the first paragraph,
(a) A is the paid-up capital of the shares of the capital stock of the Corporation issued during the particular capitalization period; and
(b) B is the annual limit amount applicable in respect of the particular capitalization period.
1129.27.4.2. The Corporation is required to pay, for a particular capitalization period, a tax under this Part equal to any of the following amounts:
(a) if the particular capitalization period begins on 24 March 2006 and ends on 28 February 2007, 35% of the amount by which $725,000,000 is exceeded by the paid-up capital of the shares of the capital stock of the Corporation at the end of the particular capitalization period; or
(b) if the particular capitalization period begins after 28 February 2007, the amount determined by the formula
50% × (A - B).
In the formula in subparagraph b of the first paragraph,
(a) A is the paid-up capital of the shares of the capital stock of the Corporation issued during the particular capitalization period; and
(b) B is the annual limit amount applicable in respect of the particular capitalization period.
1129.27.4.2. The Corporation is required to pay, for a particular capitalization period, a tax under this Part equal to the amount determined by the formula
[35% × (A − B)] − C.
In the formula in the first paragraph,
(a) A is the paid-up capital of the shares of the capital stock of the Corporation at the end of the particular capitalization period;
(b) B is the cumulative limit amount applicable in respect of the particular capitalization period; and
(c) C is any amount of tax that the Corporation is required to pay to the Minister under this section for a preceding capitalization period.
