I-3 - Taxation Act

Section 1029.8.36.0.31 Disposition versions

2006-03-01

1029.8.36.0.31. Where, before 1 January 2015, a corporation pays, in a taxation year, in this section referred to as the “repayment year”, pursuant to a legal obligation, an amount that may reasonably be considered to be repayment of government assistance or non-government assistance that was taken into account for the purpose of computing specified wages incurred by the corporation in respect of a specified employee in a particular taxation year and in respect of which the corporation is deemed to have paid an amount to the Minister under section 1029.8.36.0.22 for the particular taxation year, the corporation is deemed, if it encloses the prescribed form with the fiscal return it is required to file for the repayment year under section 1000, to have paid to the Minister on the corporation’s balance-due day for the repayment year, on account of its tax payable for that year under this Part, an amount equal to the amount by which the amount that it would be deemed to have paid to the Minister for the particular year, in respect of the specified wages, under section 1029.8.36.0.22, if any amount of such assistance so repaid at or before the end of the repayment year had reduced, for the particular year, the aggregate established under subparagraph i of paragraph b of the definition of “specified wages” in the first paragraph of section 1029.8.36.0.17, exceeds the aggregate of

(a)  the amount that the corporation is deemed to have paid to the Minister for the particular year under section 1029.8.36.0.22 in respect of the specified wages; and

(b)  any amount that the corporation is deemed to have paid to the Minister for a taxation year preceding the repayment year under this section in respect of an amount of repayment of that assistance.

In addition, if a corporation carried on or could carry on its business in the Cité du multimédia or the Centre national des nouvelles technologies de Québec in a particular taxation year that begins before 21 December 2001 for which the corporation is deemed to have paid an amount to the Minister in respect of qualified wages under section 1029.8.36.0.3.30 or 1029.8.36.0.3.40, as the case may be, as it read for the particular year, the first paragraph applies, in respect of an amount that may reasonably be considered to be repayment of assistance that was taken into account for the purpose of computing the qualified wages, having regard to the following rules:

(a)  the references to sections 1029.8.36.0.17 and 1029.8.36.0.22, wherever they appear in the portion of the first paragraph before subparagraph b, shall be read respectively as references to

i.  sections 1029.8.36.0.3.28 and 1029.8.36.0.3.30, as they formerly read for the particular year, where the corporation carried on or could carry on its business in the Cité du multimédia in the particular year, or

ii.  sections 1029.8.36.0.3.38 and 1029.8.36.0.3.40, as they formerly read for the particular year, where the corporation carried on or could carry on its business in the Centre national des nouvelles technologies de Québec in the particular year;

(b)  the expressions “specified wages” and “specified employee”, wherever they appear in the portion of the first paragraph before subparagraph b, shall be read respectively as “qualified wages” and “eligible employee”, having the meaning assigned by

i.  section 1029.8.36.0.3.28, as it read for the particular year, where the corporation carried on or could carry on its business in the Cité du multimédia in the particular year, or

ii.  section 1029.8.36.0.3.38, as it read for the particular year, where the corporation carried on or could carry on its business in the Centre national des nouvelles technologies de Québec in the particular year; and

(c)  subparagraph b of the first paragraph shall be read as follows:

“(b) any amount that the corporation is deemed to have paid to the Minister for a taxation year preceding the repayment year in respect of an amount of repayment of that assistance, under this section or under section 1029.8.36.0.3.35 or 1029.8.36.0.3.43, as it read for that preceding taxation year.”

Notwithstanding the first paragraph of section 1029.8.36.0.17, the expression “qualified wages” in the portion of the second paragraph before subparagraph a has the meaning assigned by section 1029.8.36.0.3.28 or 1029.8.36.0.3.38, as it read for the particular year, according to whether the corporation carried on or could carry on its business in the particular year in the Cité du multimédia or in the Centre national des nouvelles technologies de Québec.

2000, c. 39, s. 176; 2002, c. 40, s. 148; 2003, c. 9, s. 236.