I-3 - Taxation Act

Section 1175.27 Disposition versions

2009-06-04

1175.27. Where a qualification certificate issued by the Minister of Finance, in relation to a major investment project, in respect of a calendar year is revoked in a fiscal period of a partnership ending in a particular taxation year of a person who is a member of the partnership at the end of that fiscal period and, in relation to the major investment project, the partnership has paid or is deemed to have paid for a pay period included in the calendar year wages, that person shall pay for the particular taxation year a tax equal to the person’s share of the amount by which the amount of the contribution payable by the partnership, taking the revocation into account, under section 34 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5), in respect of the wages paid or deemed to be paid in the calendar year, exceeds the amount of the contribution payable by the partnership, but for the revocation, under that section 34, in respect of those wages, except to the extent that that excess amount has become otherwise payable by the partnership.

Similarly, where the initial qualification certificate issued or deemed to have been issued by the Minister of Finance to a partnership, in relation to a major investment project, is revoked at any time in a fiscal period of the partnership ending in a particular taxation year of a person who is a member of the partnership at the end of that fiscal period, that person shall pay for the particular year a tax equal to the aggregate of all amounts each of which is the tax that would be payable by that person, under the first paragraph, for the particular year, if each qualification certificate valid at that time, issued by the Minister of Finance, in respect of a calendar year, in relation to the major investment project, were revoked in the fiscal period.

For the purposes of the first paragraph, a person’s share of an amount is equal to the agreed proportion of the amount in respect of the person for the partnership’s fiscal period.

2002, c. 9, s. 139; 2006, c. 36, s. 269; 2009, c. 15, s. 453.

2006-12-06

1175.27. Where a qualification certificate issued by the Minister of Finance, in relation to a major investment project, in respect of a calendar year is revoked in a fiscal period of a partnership ending in a particular taxation year of a person who is a member of the partnership at the end of that fiscal period and, in relation to the major investment project, the partnership has paid or is deemed to have paid for a pay period included in the calendar year wages, that person shall pay for the particular taxation year a tax equal to the person’s share of the amount by which the amount of the contribution payable by the partnership, taking the revocation into account, under section 34 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5), in respect of the wages paid or deemed to be paid in the calendar year, exceeds the amount of the contribution payable by the partnership, but for the revocation, under that section 34, in respect of those wages, except to the extent that that excess amount has become otherwise payable by the partnership.

Similarly, where the initial qualification certificate issued or deemed to have been issued by the Minister of Finance to a partnership, in relation to a major investment project, is revoked at any time in a fiscal period of the partnership ending in a particular taxation year of a person who is a member of the partnership at the end of that fiscal period, that person shall pay for the particular year a tax equal to the aggregate of all amounts each of which is the tax that would be payable by that person, under the first paragraph, for the particular year, if each qualification certificate valid at that time, issued by the Minister of Finance, in respect of a calendar year, in relation to the major investment project, were revoked in the fiscal period.

For the purposes of the first paragraph, a person’s share of an amount is equal to the proportion of the amount that the person’s share of the partnership’s income or loss for the fiscal period is of the partnership’s income or loss for that fiscal period, on the assumption, if the partnership’s income or loss for the fiscal period is nil, that the partnership’s income for that fiscal period is equal to $1,000,000.

2002, c. 9, s. 139; 2006, c. 36, s. 269.

2006-03-01

1175.27. Where a qualification certificate issued by the Minister of Finance, in relation to a major investment project, in respect of a calendar year is revoked in a fiscal period of a partnership ending in a particular taxation year of a person who is a member of the partnership at the end of that fiscal period and, in relation to the major investment project, the partnership has paid or is deemed to have paid for a pay period included in the calendar year wages or another amount, that person shall pay for the particular taxation year a tax equal to the person’s share of the amount by which the amount of the contribution payable by the partnership, taking the revocation into account, under section 34 of the Act respecting the Régie de l’assurance maladie du Québec (chapter R-5), in respect of the wages or amounts paid or deemed to be paid in the calendar year, exceeds the amount of the contribution payable by the partnership, but for the revocation, under that section 34, in respect of those wages or amounts, except to the extent that that excess amount has become otherwise payable by the partnership.

Similarly, where the initial qualification certificate issued or deemed to have been issued by the Minister of Finance to a partnership, in relation to a major investment project, is revoked at any time in a fiscal period of the partnership ending in a particular taxation year of a person who is a member of the partnership at the end of that fiscal period, that person shall pay for the particular year a tax equal to the aggregate of all amounts each of which is the tax that would be payable by that person, under the first paragraph, for the particular year, if each qualification certificate valid at that time, issued by the Minister of Finance, in respect of a calendar year, in relation to the major investment project, were revoked in the fiscal period.

For the purposes of the first paragraph, a person’s share of an amount is equal to the proportion of the amount that the person’s share of the partnership’s income or loss for the fiscal period is of the partnership’s income or loss for that fiscal period, on the assumption, if the partnership’s income or loss for the fiscal period is nil, that the partnership’s income for that fiscal period is equal to $1,000,000.

2002, c. 9, s. 139.