I-3 - Taxation Act

Section 1029.8.19.14 Disposition versions

2021-06-02

1029.8.19.14. For the purpose of computing the amount that a taxpayer that is a member of a partnership is deemed to have paid to the Minister for a taxation year in which a fiscal period of the partnership that begins after 2 December 2014 but before 11 March 2020 ends, under any of sections 1029.8, 1029.8.7, 1029.8.9.0.4 and 1029.8.16.1.5 (in this section referred to as a “particular provision”), the following rules apply:

(a)  the aggregate of all amounts each of which is the amount of the taxpayer’s share of wages that are, or of a portion of a consideration that is, referred to in any of subparagraphs a to i of the first paragraph of section 1029.8 and that is included in the partnership’s reducible expenditures for the fiscal period, determined with reference to subdivisions 2, 4 and 6, is to be reduced by the lesser of the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period and the aggregate of those amounts for the fiscal period;

(b)  the aggregate of all amounts each of which is the amount of the taxpayer’s share of an expenditure that is referred to in subparagraph a or b of the first paragraph of section 1029.8.7 and that is included in the partnership’s reducible expenditures for the fiscal period, determined with reference to subdivisions 2, 4 and 6, is to be reduced by the lesser of the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period and the aggregate of those amounts for the fiscal period;

(c)  the aggregate of all amounts each of which is the amount of the taxpayer’s share of an eligible fee or eligible fee balance, within the meaning assigned to those expressions by section 1029.8.9.0.2, that is included in the partnership’s reducible expenditures for the fiscal period, determined with reference to subdivisions 2, 4 and 6, is to be reduced by the lesser of the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period and the aggregate of those amounts for the fiscal period; and

(d)  the aggregate of all amounts each of which is the amount of the taxpayer’s share of an expenditure that is referred to in any of subparagraphs a to c of the first paragraph of section 1029.8.16.1.5 and that is included in the partnership’s reducible expenditures for the fiscal period, determined with reference to subdivisions 2, 4 and 6, is to be reduced by the lesser of the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period and the aggregate of those amounts for the fiscal period.

For the purposes of the first paragraph, where the amount of a partnership’s reducible expenditures for a fiscal period is greater than the exclusion threshold applicable to the partnership for the fiscal period and a taxpayer that is a member of the partnership may be deemed, but for this subdivision, to have paid an amount to the Minister for the taxation year in which that fiscal period ends under more than one particular provision in relation to the partnership, the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period that ends in the year is deemed to be equal, in relation to each particular provision, to the amount determined by the formula

A × B/C.

In the formula in the second paragraph,

(a)  A is the exclusion threshold applicable to the partnership for the fiscal period that ends in the year;

(b)  B is the aggregate of all amounts each of which is the taxpayer’s share of an expenditure–referred to in any of paragraphs a to d of the definition of “reducible expenditures” in the first paragraph of section 1029.8.19.8–of the partnership for the fiscal period that ends in the year in relation to the particular provision; and

(c)  C is the partnership’s reducible expenditures for the fiscal period that ends in the year.

For the purposes of this section, the taxpayer’s share of an amount is equal to the agreed proportion of the amount in respect of the taxpayer for the partnership’s fiscal period that ends in the taxpayer’s taxation year.

2015, c. 36, s. 99; 2021, c. 14, s. 128.

2015-12-04

1029.8.19.14. For the purpose of computing the amount that a taxpayer that is a member of a partnership is deemed to have paid to the Minister for a taxation year in which a fiscal period of the partnership that begins after 2 December 2014 ends, under any of sections 1029.8, 1029.8.7, 1029.8.9.0.4 and 1029.8.16.1.5 (in this section referred to as a “particular provision”), the following rules apply:

(a)  the aggregate of all amounts each of which is the amount of the taxpayer’s share of wages that are, or of a portion of a consideration that is, referred to in any of subparagraphs a to i of the first paragraph of section 1029.8 and that is included in the partnership’s reducible expenditures for the fiscal period, determined with reference to subdivisions 2, 4 and 6, is to be reduced by the lesser of the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period and the aggregate of those amounts for the fiscal period;

(b)  the aggregate of all amounts each of which is the amount of the taxpayer’s share of an expenditure that is referred to in subparagraph a or b of the first paragraph of section 1029.8.7 and that is included in the partnership’s reducible expenditures for the fiscal period, determined with reference to subdivisions 2, 4 and 6, is to be reduced by the lesser of the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period and the aggregate of those amounts for the fiscal period;

(c)  the aggregate of all amounts each of which is the amount of the taxpayer’s share of an eligible fee or eligible fee balance, within the meaning assigned to those expressions by section 1029.8.9.0.2, that is included in the partnership’s reducible expenditures for the fiscal period, determined with reference to subdivisions 2, 4 and 6, is to be reduced by the lesser of the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period and the aggregate of those amounts for the fiscal period; and

(d)  the aggregate of all amounts each of which is the amount of the taxpayer’s share of an expenditure that is referred to in any of subparagraphs a to c of the first paragraph of section 1029.8.16.1.5 and that is included in the partnership’s reducible expenditures for the fiscal period, determined with reference to subdivisions 2, 4 and 6, is to be reduced by the lesser of the taxpayer’s share of the exclusion threshold applicable to the partnership for the fiscal period and the aggregate of those amounts for the fiscal period.

For the purposes of the first paragraph, where the amount of a partnership’s reducible expenditures for a fiscal period is greater than the exclusion threshold applicable to the partnership for the fiscal period and a taxpayer that is a member of the partnership may be deemed, but for this subdivision, to have paid an amount to the Minister for the taxation year in which that fiscal period ends under more than one particular provision in relation to the partnership, the taxpayer’s otherwise determined share of the exclusion threshold applicable to the partnership for the fiscal period that ends in the year is deemed to be equal, in relation to each particular provision, to the amount determined by the formula

A × B/C.

In the formula in the second paragraph,

(a)  A is the exclusion threshold applicable to the partnership for the fiscal period that ends in the year;

(b)  B is the aggregate of all amounts each of which is the taxpayer’s share of an expenditure–referred to in any of paragraphs a to d of the definition of “reducible expenditures” in the first paragraph of section 1029.8.19.8–of the partnership for the fiscal period that ends in the year in relation to the particular provision; and

(c)  C is the partnership’s reducible expenditures for the fiscal period that ends in the year.

For the purposes of this section, the taxpayer’s share of an amount is equal to the agreed proportion of the amount in respect of the taxpayer for the partnership’s fiscal period that ends in the taxpayer’s taxation year.

2015, c. 36, s. 99.