I-3 - Taxation Act

Section 771.2.1.2.2 Disposition versions

2021-06-04

771.2.1.2.2. A partnership of which a corporation that is carrying on an eligible business in a taxation year as a member of the partnership is a member and to which paragraph a of the definition of “specified partnership income” in the first paragraph of section 771.1 refers for the taxation year is a partnership whose number of remunerated hours determined in respect of its employees for a fiscal period that ends in the taxation year exceeds 5,000.

For the purposes of this section,

(a)  the number of remunerated hours determined in respect of a person that may be taken into account for a week may not exceed 40;

(b)  the remunerated hours may be taken into account only to the extent that they were paid; and

(c)  the remunerated hours may be taken into account for a fiscal period only to the extent that the expenditure relating to those hours was incurred in that fiscal year.

For the purposes of the first paragraph,

(a)  where the number of days in the partnership’s fiscal period is less than 365, the number of remunerated hours determined in respect of the partnership’s employees in the fiscal period is deemed to be equal to the product obtained by multiplying that number otherwise determined by the proportion that 365 is of the number of days in the fiscal period; and

(b)  where the period that begins on 15 March 2020 and ends on 29 June 2020 (in this subparagraph referred to as the “period of closure”) is included, in whole or in part, in the partnership’s fiscal period, the number of remunerated hours determined in respect of the partnership’s employees in the fiscal period is deemed to be equal to the product obtained by multiplying that number, otherwise determined and without reference to subparagraph a, by the proportion that 365 is of the amount by which the number of days in the fiscal period exceeds the number of days in the period of closure that are included in the fiscal period.

2017, c. 1, s. 214; 2017, c. 29, s. 157; 2019, c. 14, s. 243; 2021, c. 14, s. 92; 2021, c. 18, s. 64.

2021-06-02

771.2.1.2.2. A partnership of which a corporation that is carrying on an eligible business in a taxation year as a member of the partnership is a member and to which paragraph a of the definition of “specified partnership income” in the first paragraph of section 771.1 refers for the taxation year is a partnership whose number of remunerated hours determined in respect of its employees for a fiscal period that ends in the taxation year exceeds 5,000.

For the purposes of this section,

(a)  the number of remunerated hours determined in respect of a person that may be taken into account for a week may not exceed 40;

(b)  the remunerated hours may be taken into account only to the extent that they were paid; and

(c)  the remunerated hours may be taken into account for a fiscal period only to the extent that the expenditure relating to those hours was incurred in that fiscal year.

For the purposes of the first paragraph, where the period that begins on 15 March 2020 and ends on 29 June 2020 (in this paragraph referred to as the “period of closure”) is included, in whole or in part, in the partnership’s fiscal period referred to in the first paragraph, the number of remunerated hours determined in respect of the partnership’s employees in that fiscal period is deemed to be equal to the product obtained by multiplying that number, otherwise determined, by the proportion that the number of days in the fiscal period is of the amount by which the number of days in the fiscal period exceeds the number of days in the period of closure that are included in the fiscal period.

2017, c. 1, s. 214; 2017, c. 29, s. 157; 2019, c. 14, s. 243; 2021, c. 14, s. 92.

2019-06-19

771.2.1.2.2. A partnership of which a corporation that is carrying on an eligible business in a taxation year as a member of the partnership is a member and to which paragraph a of the definition of “specified partnership income” in the first paragraph of section 771.1 refers for the taxation year is a partnership whose number of remunerated hours determined in respect of its employees for a fiscal period that ends in the taxation year exceeds 5,000.

For the purposes of this section,

(a)  the number of remunerated hours determined in respect of a person that may be taken into account for a week may not exceed 40;

(b)  the remunerated hours may be taken into account only to the extent that they were paid; and

(c)  the remunerated hours may be taken into account for a fiscal period only to the extent that the expenditure relating to those hours was incurred in that fiscal year.

2017, c. 1, s. 214; 2017, c. 29, s. 157; 2019, c. 14, s. 243.

2017-12-07

771.2.1.2.2. A partnership of which a corporation that is carrying on an eligible business in a taxation year as a member of the partnership is a member and to which paragraph a of the definition of “specified partnership income” in the first paragraph of section 771.1 refers for the taxation year is a partnership whose number of remunerated hours determined in respect of its employees for a fiscal year that ends in the taxation year exceeds 5,000.

For the purposes of this section,

(a)  the number of remunerated hours determined in respect of a person that may be taken into account for a week may not exceed 40;

(b)  the remunerated hours may be taken into account only to the extent that they were paid; and

(c)  the remunerated hours may be taken into account for a fiscal year only to the extent that the expenditure relating to those hours was incurred in that fiscal year.

2017, c. 1, s. 214; 2017, c. 29, s. 157.

2017-02-08

771.2.1.2.2. A partnership of which a corporation that is carrying on an eligible business in a taxation year as a member of the partnership is a member and to which paragraph a of the definition of “specified partnership income” in the first paragraph of section 771.1 refers for the taxation year is a partnership whose employees have carried out, in a fiscal year that ends in the taxation year, more than 5,000 hours of work.

For the purposes of this section, the following rules apply:

(a)  the number of hours of work carried out by a person in a week that may be taken into account may not exceed 40; and

(b)  the hours worked may be taken into account only to the extent that they were paid.

2017, c. 1, s. 214.