I-3 - Taxation Act

Section 1029.8.33.18 Disposition versions

2006-03-01

1029.8.33.18. Where, at a particular time, a taxpayer who is a member of a qualified partnership pays, pursuant to a legal obligation, a particular amount that may reasonably be considered to be repayment of government assistance that reduced, pursuant to paragraph c of section 1029.8.33.16, the taxpayer’s share of an aggregate of qualified expenditure determined in respect of the partnership for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister for a taxation year under section 1029.8.33.14, the following rules apply:

(a)  the particular amount is deemed, for the purposes of that section 1029.8.33.14, to be the taxpayer’s share of a qualified expenditure of the partnership determined at that particular time; and

(b)  the amount that the taxpayer is deemed to have paid to the Minister under that section is deemed

i.  to be equal to the amount that, were it not for that assistance, would have been deemed to have been paid to the Minister by the taxpayer under section 1029.8.33.14 in respect of the portion of the taxpayer’s share of the particular qualified expenditure corresponding to the assistance so repaid, and

ii.  to be paid to the Minister under that section 1029.8.33.14.

1997, c. 85, s. 253; 2000, c. 39, s. 142; 2001, c. 7, s. 169; 2002, c. 40, s. 134.