I-3 - Taxation Act

Section 1029.8.33.2.1 Disposition versions

2006-12-06

1029.8.33.2.1. Where, in a taxation year or fiscal period, as the case may be, an eligible taxpayer or qualified partnership, as the case may be, pays, pursuant to a legal obligation, an amount that may reasonably be regarded as repayment of an amount of assistance referred to in subparagraph c of the first paragraph of section 1029.8.33.3 or in subparagraph c or f of the second paragraph of that section that was applied, for the purpose of computing an amount that the taxpayer or member of the partnership, as the case may be, is deemed to have paid to the Minister under section 1029.8.33.6 or 1029.8.33.7 for a particular taxation year, in reduction of a qualified expenditure in respect of an eligible trainee for a particular week completed in the particular year or in a fiscal period ended in the particular year, the taxpayer or partnership, as the case may be, is deemed to have made a qualified expenditure in the taxation year or fiscal period, as the case may be, equal to the lesser of

(a)  the aggregate of all amounts each of which is an amount paid in the taxation year or fiscal period, as the case may be, by the taxpayer or partnership, as the case may be, as repayment of an amount of assistance referred to in subparagraph c of the first paragraph of section 1029.8.33.3 or in subparagraph c or f of the second paragraph of that section in respect of an eligible trainee in respect of the particular week; and

(b)  the amount by which the amount that would be computed under section 1029.8.33.3 in respect of the eligible trainee for the particular week if each of the amounts of assistance referred to in subparagraph c of the first paragraph of that section or in subparagraph c or f of the second paragraph of that section in respect of that week were applied in reduction of any amount paid in respect of the eligible trainee as repayment in the taxation year or fiscal period, or in a previous taxation year or fiscal period, by the taxpayer or partnership, as the case may be, exceeds the aggregate of

i.  the amount determined under section 1029.8.33.3, without reference to this section, in respect of the eligible trainee for the particular week, and

ii.  any amount determined under this section in respect of that eligible trainee and in respect of that particular week, for a previous taxation year or fiscal period.

1995, c. 63, s. 164; 1997, c. 3, s. 71; 2006, c. 36, s. 113.

2006-03-01

1029.8.33.2.1. Where, in a taxation year or fiscal period, as the case may be, an eligible taxpayer or qualified partnership, as the case may be, pays an amount that may reasonably be regarded as repayment of an amount of assistance referred to in subparagraph c of the first paragraph of section 1029.8.33.3 or in subparagraph c or f of the second paragraph of that section that was applied, for the purpose of computing an amount that the taxpayer or member of the partnership, as the case may be, is deemed to have paid to the Minister under section 1029.8.33.6 or 1029.8.33.7 for a particular taxation year, in reduction of a qualified expenditure in respect of an eligible trainee for a particular week completed in the particular year or in a fiscal period ended in the particular year, the taxpayer or partnership, as the case may be, is deemed to have made a qualified expenditure in the taxation year or fiscal period, as the case may be, equal to the lesser of

(a)  the aggregate of all amounts each of which is an amount paid in the taxation year or fiscal period, as the case may be, by the taxpayer or partnership, as the case may be, as repayment of an amount of assistance referred to in subparagraph c of the first paragraph of section 1029.8.33.3 or in subparagraph c or f of the second paragraph of that section in respect of an eligible trainee in respect of the particular week; and

(b)  the amount by which the amount that would be computed under section 1029.8.33.3 in respect of the eligible trainee for the particular week if each of the amounts of assistance referred to in subparagraph c of the first paragraph of that section or in subparagraph c or f of the second paragraph of that section in respect of that week were applied in reduction of any amount paid in respect of the eligible trainee as repayment in the taxation year or fiscal period, or in a previous taxation year or fiscal period, by the taxpayer or partnership, as the case may be, exceeds the aggregate of

i.  the amount determined under section 1029.8.33.3, without reference to this section, in respect of the eligible trainee for the particular week, and

ii.  any amount determined under this section in respect of that eligible trainee and in respect of that particular week, for a previous taxation year or fiscal period.

1995, c. 63, s. 164; 1997, c. 3, s. 71.