I-3 - Taxation Act

Section 1129.39 Disposition versions

2007-11-07

1129.39. Every taxpayer who is deemed to have paid to the Minister, under Division II.5.1 of Chapter III.1 of Title III of Book IX of Part I, an amount as partial payment of the taxpayer’s tax payable under that Part for a particular taxation year shall, where during a subsequent taxation year, an amount relating to a qualified expenditure or to the taxpayer’s share of such an expenditure, in respect of which the taxpayer is so deemed to have paid an amount is, directly or indirectly, refunded or otherwise paid to the taxpayer or allocated to a payment to be made by the taxpayer, pay for that subsequent year tax equal to the amount obtained by applying to the amount so refunded, paid or allocated the percentage applied for the particular year to the qualified expenditure under section 1029.8.33.6 or to the taxpayer’s share of such an expenditure under section 1029.8.33.7.

However, the first paragraph applies in respect of an amount refunded, paid or allocated only to the extent,

(a)  where the qualified expenditure to which the amount relates was made by the taxpayer, that the amount of the expenditure exceeds the amount that would be determined if each of the particular amounts taken into account for the purpose of determining that amount were reduced, where applicable, by every amount that, not later than in the subsequent taxation year referred to in the first paragraph, was refunded or otherwise paid to the taxpayer or allocated to a payment he was required to make, in respect of the particular amount;

(b)  where the qualified expenditure to which the amount relates was made by a partnership in a fiscal period, that the taxpayer’s share of the amount of the expenditure, determined in accordance with sections 1029.8.33.7 and 1029.8.33.7.1, exceeds the share that would have been so determined had the amount of the expenditure been determined on the assumption that each of the particular amounts taken into account for the purpose of determining that amount had been reduced, where applicable, by the amount determined in its respect in accordance with the third paragraph.

The amount referred to in subparagraph b of the second paragraph in respect of a particular amount is the quotient obtained by dividing the aggregate of all amounts each of which is an amount relating to the particular amount and which, not later than in the subsequent taxation year referred to in the first paragraph, was refunded or otherwise paid to the taxpayer or allocated to a payment he was required to make, by the proportion described in the third paragraph of section 1029.8.33.7 in respect of the qualified expenditure referred to in subparagraph b.

1995, c. 1, s. 191; 1995, c. 63, s. 235; 1997, c. 3, s. 71; 2000, c. 39, s. 264; 2004, c. 21, s. 470; 2007, c. 12, s. 262.

2006-03-01

1129.39. Every taxpayer who is deemed to have paid to the Minister, under Division II.5.1 of Chapter III.1 of Title III of Book IX of Part I, an amount as partial payment of the taxpayer’s tax payable under that Part for a particular taxation year shall, where during a subsequent taxation year, an amount relating to a qualified expenditure or to the taxpayer’s share of such an expenditure, in respect of which the taxpayer is so deemed to have paid an amount is, directly or indirectly, refunded to the taxpayer or allocated to a payment to be made by the taxpayer, pay for that subsequent year tax equal to the amount obtained by applying to the amount so refunded or allocated the percentage applied for the particular year to the qualified expenditure under section 1029.8.33.6 or to the taxpayer’s share of such an expenditure under section 1029.8.33.7.

However, the first paragraph applies in respect of an amount refunded or allocated only to the extent,

(a)  where the qualified expenditure to which the amount relates was made by the taxpayer, that the amount of the expenditure exceeds the amount that would be determined if each of the particular amounts taken into account for the purpose of determining that amount were reduced, where applicable, by every amount that, not later than in the subsequent taxation year referred to in the first paragraph, was refunded to the taxpayer, or was allocated to a payment he was required to make, in respect of the particular amount;

(b)  where the qualified expenditure to which the amount relates was made by a partnership in a fiscal period, that the taxpayer’s share of the amount of the expenditure, determined in accordance with sections 1029.8.33.7 and 1029.8.33.7.1, exceeds the share that would have been so determined had the amount of the expenditure been determined on the assumption that each of the particular amounts taken into account for the purpose of determining that amount had been reduced, where applicable, by the amount determined in its respect in accordance with the third paragraph.

The amount referred to in subparagraph b of the second paragraph in respect of a particular amount is the quotient obtained by dividing the aggregate of all amounts each of which is an amount relating to the particular amount and which, not later than in the subsequent taxation year referred to in the first paragraph, was refunded to the taxpayer or allocated to a payment he was required to make, by the proportion described in the third paragraph of section 1029.8.33.7 in respect of the qualified expenditure referred to in subparagraph b.

1995, c. 1, s. 191; 1995, c. 63, s. 235; 1997, c. 3, s. 71; 2000, c. 39, s. 264; 2004, c. 21, s. 470.