I-3 - Taxation Act

Section 1175.28.0.6 Disposition versions

2021-06-02

1175.28.0.6. Where a corporation has deducted an amount in computing its taxable income under section 737.18.44 and where, in a particular taxation year, any of the events described in section 1175.28.0.7 occurs, the corporation shall pay, for that particular year, a tax equal to the amount by which the amount determined in accordance with the second paragraph is exceeded by the aggregate of all amounts each of which is the amount by which the tax payable by the corporation under Part I for a preceding taxation year for which it deducted an amount in computing taxable income under section 737.18.44 is exceeded by the tax it would have had to pay under Part I for that preceding year if

(a)  such an amount had not been deducted in relation to any qualified intellectual property asset in respect of which an event described in any of paragraphs a to c of section 1175.28.0.7 occurs in the particular year or in a preceding taxation year; and

(b)  section 737.18.44 had applied, in relation to any qualified intellectual property asset in respect of which an event described in paragraph d of section 1175.28.0.7 occurs in the particular year or in a preceding taxation year, with reference only to the expenditures referred to in subparagraphs e and f of the third paragraph of section 737.18.44 that were not reduced by a redetermination by the Minister.

The amount to which the first paragraph refers is equal to the aggregate of all amounts each of which is the tax that the corporation shall pay under this section for a taxation year preceding the particular year.

2021, c. 14, s. 198.