I-3 - Taxation Act

Section 1029.8.36.53.23 Disposition versions

2021-06-02

1029.8.36.53.23. (Repealed).

2010, c. 5, s. 157; 2011, c. 34, s. 89; 2021, c. 14, s. 144.

2011-12-09

1029.8.36.53.23. A qualifying person who, at a time in a taxation year that occurs after 31 December 2008 and before 1 January 2012, acquires a recognized energy-efficient vehicle or leases such a vehicle under a long-term leasing contract, is deemed, subject to the second and third paragraphs, if the qualifying person encloses the prescribed form containing prescribed information with the fiscal return the qualifying person is required to file for the year under section 1000, or would be so required to file if the qualifying person had tax payable for that year under this Part, to have paid to the Minister, on the qualifying person’s balance-due day for that year, on account of the qualifying person’s tax payable for that year under this Part, the amount determined under section 1029.8.36.53.25 or 1029.8.36.53.26, in relation to the recognized energy-efficient vehicle, depending on whether the qualifying person acquires or leases it.

For the purpose of computing the payments that a person is required to make under section 1025 or 1026, subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the person is deemed to have paid to the Minister, on account of the aggregate of the person’s tax payable for the year under this Part and of the person’s tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

This section does not apply to the acquisition or long-term leasing of a recognized energy-efficient vehicle that results from the awarding of a prize, unless the value of the prize is included in computing the income of the qualifying person receiving the prize.

2010, c. 5, s. 157; 2011, c. 34, s. 89.

2010-04-20

1029.8.36.53.23. A qualifying person who, at a time in a taxation year that occurs after 31 December 2008 and before 1 January 2016, acquires a recognized energy-efficient vehicle or leases such a vehicle under a long-term leasing contract, is deemed, subject to the second and third paragraphs, if the qualifying person encloses the prescribed form containing prescribed information with the fiscal return the qualifying person is required to file for the year under section 1000, or would be so required to file if the qualifying person had tax payable for that year under this Part, to have paid to the Minister, on the qualifying person’s balance-due day for that year, on account of the qualifying person’s tax payable for that year under this Part, the amount determined under section 1029.8.36.53.25 or 1029.8.36.53.26, in relation to the recognized energy-efficient vehicle, depending on whether the qualifying person acquires or leases it.

For the purpose of computing the payments that a person is required to make under section 1025 or 1026, subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, the person is deemed to have paid to the Minister, on account of the aggregate of the person’s tax payable for the year under this Part and of the person’s tax payable for the year under Parts IV, IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

This section does not apply to the acquisition or long-term leasing of a recognized energy-efficient vehicle that results from the awarding of a prize, unless the value of the prize is included in computing the income of the qualifying person receiving the prize.

2010, c. 5, s. 157.