I-3 - Taxation Act

Section 1029.8.33.7.1 Disposition versions

2009-06-04

1029.8.33.7.1. Where an eligible taxpayer referred to in section 1029.8.33.7 has received, is entitled to receive or can reasonably expect to receive, on or before the day that is six months after the end of the fiscal period referred to in that section, in this section referred to as the “particular fiscal period”, an amount of government assistance or non-government assistance, in respect of a particular qualified expenditure made by a qualified partnership referred to in section 1029.8.33.7 for a week completed in the particular fiscal period, that may reasonably be attributed to the wages or salary for that week for an eligible trainee or for an eligible supervisor having supervised the eligible trainee during the week within the framework of a qualified training period served by the eligible trainee during the particular fiscal period, or to the travel expenses incurred during the week by the qualified partnership within the framework of the qualified training period, the eligible taxpayer’s share of the particular qualified expenditure, for the purpose of computing an amount deemed to have been paid under section 1029.8.33.7 by the eligible taxpayer to the Minister, for the taxation year referred to in that section, shall not exceed the amount determined by the formula

A × B.

For the purposes of the formula in the first paragraph,

(a)  A is the amount that would have been determined in respect of the particular qualified expenditure if, for the purposes of section 1029.8.33.3, the qualified partnership had in the particular fiscal period received the amount of assistance referred to in the first paragraph and the latter amount were multiplied by the reciprocal of the agreed proportion in respect of the eligible taxpayer for the qualified partnership’s particular fiscal period; and

(b)  B is the agreed proportion in respect of the eligible taxpayer for the qualified partnership’s particular fiscal period;

(c)  (subparagraph repealed).

1995, c. 63, s. 170; 1997, c. 3, s. 71; 1997, c. 31, s. 112; 2007, c. 12, s. 145; 2009, c. 15, s. 228.

2007-11-07

1029.8.33.7.1. Where an eligible taxpayer referred to in section 1029.8.33.7 has received, is entitled to receive or can reasonably expect to receive, on or before the day that is six months after the end of the fiscal period referred to in that section, in this section referred to as the “particular fiscal period”, an amount of government assistance or non-government assistance, in respect of a particular qualified expenditure made by a qualified partnership referred to in section 1029.8.33.7 for a week completed in the particular fiscal period, that may reasonably be attributed to the wages or salary for that week for an eligible trainee or for an eligible supervisor having supervised the eligible trainee during the week within the framework of a qualified training period served by the eligible trainee during the particular fiscal period, or to the travel expenses incurred during the week by the qualified partnership within the framework of the qualified training period, the eligible taxpayer’s share of the particular qualified expenditure, for the purpose of computing an amount deemed to have been paid under section 1029.8.33.7 by the eligible taxpayer to the Minister, for the taxation year referred to in that section, shall not exceed the amount determined by the formula

A × (B / C).

For the purposes of the formula in the first paragraph,

(a)  A is the amount that would have been determined in respect of the particular qualified expenditure if, for the purposes of section 1029.8.33.3, the qualified partnership had in the particular fiscal period received the amount of assistance referred to in the first paragraph and the latter amount were multiplied by the proportion that the income or loss of the partnership for the particular fiscal period is of the share of the eligible taxpayer of the income or loss of that partnership, for that fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000;

(b)  B represents the share of the eligible taxpayer of the income or loss of the qualified partnership for the particular fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000; and

(c)  C represents the income or loss of the qualified partnership for the particular fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000.

1995, c. 63, s. 170; 1997, c. 3, s. 71; 1997, c. 31, s. 112; 2007, c. 12, s. 145.

2006-03-01

1029.8.33.7.1. Where an eligible taxpayer referred to in section 1029.8.33.7 has received, is entitled to receive or can reasonably expect to receive, on or before the eligible taxpayer’s filing-due date for the taxation year referred to in that section, an amount of government assistance or non-government assistance, in respect of a particular qualified expenditure made by a qualified partnership referred to in section 1029.8.33.7 for a week completed in the particular fiscal period ended in that year, that may reasonably be attributed to the wages or salary for that week for an eligible trainee or for an eligible supervisor having supervised the eligible trainee during the week within the framework of a qualified training period served by the eligible trainee during the particular fiscal period, or to the travel expenses incurred during the week by the qualified partnership within the framework of the qualified training period, the eligible taxpayer’s share of the particular qualified expenditure, for the purpose of computing an amount deemed to have been paid under section 1029.8.33.7 by the eligible taxpayer to the Minister, for the taxation year referred to in that section, shall not exceed the amount determined by the formula

A × (B / C).

For the purposes of the formula in the first paragraph,

(a)  A is the amount that would have been determined in respect of the particular qualified expenditure if, for the purposes of section 1029.8.33.3, the qualified partnership had in the particular fiscal period received the amount of assistance referred to in the first paragraph and the latter amount were multiplied by the proportion that the income or loss of the partnership for the particular fiscal period is of the share of the eligible taxpayer of the income or loss of that partnership, for that fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000;

(b)  B represents the share of the eligible taxpayer of the income or loss of the qualified partnership for the particular fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000; and

(c)  C represents the income or loss of the qualified partnership for the particular fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000.

1995, c. 63, s. 170; 1997, c. 3, s. 71; 1997, c. 31, s. 112.