I-3 - Taxation Act

Section 1029.8.33.2.2 Disposition versions

2006-12-06

1029.8.33.2.2. Where, in a particular taxation year, an eligible taxpayer who is a member of a qualified partnership pays, pursuant to a legal obligation, an amount that may reasonably be regarded as repayment of an amount of assistance referred to in the first paragraph of section 1029.8.33.7.1 paid in respect of an eligible trainee for a week completed in a particular fiscal period of the partnership and that was applied in reduction of the taxpayer’s share of the amount of a particular qualified expenditure of the partnership for the purpose of computing an amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.33.7 for the taxation year in which the particular fiscal period of the partnership ended, the taxpayer is deemed to have made a qualified expenditure in the particular taxation year equal to the lesser of

(a)  the aggregate of all amounts each of which is an amount paid in the particular taxation year by the taxpayer as repayment of an amount of assistance referred to in the first paragraph of section 1029.8.33.7.1 in respect of the particular qualified expenditure; and

(b)  the amount by which the eligible taxpayer’s share, determined in accordance with section 1029.8.33.7 and without reference to section 1029.8.33.7.1, of the particular qualified expenditure exceeds the aggregate of the eligible taxpayer’s share, determined in accordance with section 1029.8.33.7.1, of the particular qualified expenditure and of the amounts determined under this section, in respect of the taxpayer and in respect of the particular qualified expenditure, for a taxation year previous to the particular taxation year.

1995, c. 63, s. 164; 1997, c. 3, s. 71; 2006, c. 36, s. 114.

2006-03-01

1029.8.33.2.2. Where, in a particular taxation year, an eligible taxpayer who is a member of a qualified partnership pays an amount that may reasonably be regarded as repayment of an amount of assistance referred to in the first paragraph of section 1029.8.33.7.1 paid in respect of an eligible trainee for a week completed in a particular fiscal period of the partnership and that was applied in reduction of the taxpayer’s share of the amount of a particular qualified expenditure of the partnership for the purpose of computing an amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.33.7 for the taxation year in which the particular fiscal period of the partnership ended, the taxpayer is deemed to have made a qualified expenditure in the particular taxation year equal to the lesser of

(a)  the aggregate of all amounts each of which is an amount paid in the particular taxation year by the taxpayer as repayment of an amount of assistance referred to in the first paragraph of section 1029.8.33.7.1 in respect of the particular qualified expenditure; and

(b)  the amount by which the eligible taxpayer’s share, determined in accordance with section 1029.8.33.7 and without reference to section 1029.8.33.7.1, of the particular qualified expenditure exceeds the aggregate of the eligible taxpayer’s share, determined in accordance with section 1029.8.33.7.1, of the particular qualified expenditure and of the amounts determined under this section, in respect of the taxpayer and in respect of the particular qualified expenditure, for a taxation year previous to the particular taxation year.

1995, c. 63, s. 164; 1997, c. 3, s. 71.