I-3 - Taxation Act

Section 1029.8.36.59.41 Disposition versions

2021-06-04

1029.8.36.59.41. (Repealed).

2013, c. 10, s. 121; 2021, c. 18, s. 124.

2013-06-05

1029.8.36.59.41. If, in respect of eligible issue expenses of a qualified issuing corporation, a person or a 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 public share issue to which those expenses relate, whether in the form of a reimbursement, compensation or guarantee, in the form of proceeds of disposition of a property which exceed the fair market value of the property, or in any other form or manner, for the purpose of computing the amount that the qualified issuing corporation is deemed to have paid to the Minister for a taxation year under section 1029.8.36.59.37, the amount of the eligible issue expenses referred to in the first paragraph of that section is to be reduced by the amount of the benefit or advantage relating to the expenses that the person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain on or before the qualified issuing corporation’s filing-due date for the taxation year.

2013, c. 10, s. 121.