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I-3 - Taxation Act
Section 1029.8.21.25
Disposition versions
1029.8.21.25. Where a corporation referred to in section 1029.8.21.23 has received, is entitled to receive or may reasonably expect to receive, on or before the day that is six months after the end of the fiscal period referred to in that section, government assistance or non-government assistance in respect of an expenditure included in computing the qualified expenditure incurred by the partnership in that fiscal period, the qualified expenditure shall, for the purpose of computing the amount deemed to have been paid to the Minister by the corporation under that section 1029.8.21.23 for the taxation year referred to therein in relation to the qualified expenditure, be determined as if
(a) the amount of the assistance had been received by the partnership during the fiscal period; and
(b) the amount of the assistance were equal to the product obtained by multiplying the amount of assistance otherwise determined by the reciprocal of the agreed proportion in respect of the corporation for the partnership’s fiscal period.
1029.8.21.25. Where a corporation referred to in section 1029.8.21.23 has received, is entitled to receive or may reasonably expect to receive, on or before the day that is six months after the end of the fiscal period referred to in that section, government assistance or non-government assistance in respect of an expenditure included in computing the qualified expenditure incurred by the partnership in that fiscal period, the qualified expenditure shall, for the purpose of computing the amount deemed to have been paid to the Minister by the corporation under that section 1029.8.21.23 for the taxation year referred to therein in relation to the qualified expenditure, be determined as if
(a) the amount of the assistance had been received by the partnership during the fiscal period; and
(b) the amount of the assistance were equal to the product obtained by multiplying the amount of assistance otherwise determined by the proportion that the income or loss of the partnership for the fiscal period is of the corporation’s share of that income or loss, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for the fiscal period is equal to $1,000,000.
