I-3 - Taxation Act

Section 1029.8.36.59.31 Disposition versions

2010-10-27

1029.8.36.59.31. (Repealed).

2005, c. 1, s. 244; 2009, c. 15, s. 285; 2010, c. 25, s. 139.

2009-06-04

1029.8.36.59.31. Where, in respect of the employment of an individual with an eligible taxpayer or qualified partnership as an eligible employee, a person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain a benefit or advantage, other than a benefit or advantage that may reasonably be attributed to the employment, whether in the form of a reimbursement, compensation or guarantee, in the form of proceeds of disposition of property which exceed the fair market value of the property, or in any other form or manner, the following rules apply:

(a)  for the purpose of computing the amount that the eligible taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.24 for a particular taxation year, the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.59.21 in respect of the eligible taxpayer for the particular year, in relation to the employment of the individual, shall, except if it has been increased for a preceding taxation year in respect of the amount of the benefit or advantage, be increased by the amount of the benefit or advantage that the person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain on or before the eligible taxpayer’s filing-due date for the particular year; and

(b)  for the purpose of computing the amount that is deemed to have been paid to the Minister for a taxation year under section 1029.8.36.59.25 by a taxpayer that is a member of the qualified partnership at the end of the partnership’s particular fiscal period ending in the year, the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.59.21 in respect of the qualified partnership for that fiscal period, in relation to the employment of the individual, shall, except if it has been increased for a preceding fiscal period in respect of the amount of the benefit or advantage, be increased by

i.  the amount of the benefit or advantage that a partnership or a person other than a person referred to in subparagraph ii has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the particular fiscal period, and

ii.  the product obtained by multiplying the amount of the benefit or advantage that the eligible taxpayer or a person with whom the eligible taxpayer is not dealing at arm’s length has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the particular fiscal period, by the reciprocal of the agreed proportion in respect of the eligible taxpayer for the particular fiscal period.

2005, c. 1, s. 244; 2009, c. 15, s. 285.

2006-03-01

1029.8.36.59.31. Where, in respect of the employment of an individual with an eligible taxpayer or qualified partnership as an eligible employee, a person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain a benefit or advantage, other than a benefit or advantage that may reasonably be attributed to the employment, whether in the form of a reimbursement, compensation or guarantee, in the form of proceeds of disposition of property which exceed the fair market value of the property, or in any other form or manner, the following rules apply:

(a)  for the purpose of computing the amount that the eligible taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.24 for a particular taxation year, the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.59.21 in respect of the eligible taxpayer for the particular year, in relation to the employment of the individual, shall, except if it has been increased for a preceding taxation year in respect of the amount of the benefit or advantage, be increased by the amount of the benefit or advantage that the person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain on or before the eligible taxpayer’s filing-due date for the particular year; and

(b)  for the purpose of computing the amount that is deemed to have been paid to the Minister for a taxation year under section 1029.8.36.59.25 by a taxpayer that is a member of the qualified partnership at the end of the partnership’s particular fiscal period ending in the year, the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.59.21 in respect of the qualified partnership for that fiscal period, in relation to the employment of the individual, shall, except if it has been increased for a preceding fiscal period in respect of the amount of the benefit or advantage, be increased by

i.  the amount of the benefit or advantage that a partnership or a person other than a person referred to in subparagraph ii has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the particular fiscal period, and

ii.  the product obtained by multiplying the amount of the benefit or advantage that the eligible taxpayer or a person with whom the eligible taxpayer is not dealing at arm’s length has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the particular fiscal period, by the proportion that the income or loss of the qualified partnership for that fiscal period is of the eligible taxpayer’s share of that income or loss, on the assumption that, if the income and loss of the qualified partnership for the particular fiscal period are nil, the qualified partnership’s income for that fiscal period is equal to $1,000,000.

2005, c. 1, s. 244.