I-3 - Taxation Act

Section 1029.8.34.2 Disposition versions

2019-06-19

1029.8.34.2. Despite Chapter IV of Title II of Book I, where, at any time in a taxation year that ends before 1 March 2014 or begins after 26 March 2015, a particular corporation would, but for this paragraph, be related to an excluded corporation as a consequence of the particular corporation and the excluded corporation being controlled at that time by the same group of persons that includes one or more specified entities, within the meaning of section 1029.8.34.3, neither the shares of the capital stock of the particular corporation and the excluded corporation owned by any specified entity that is a member of that group, nor any right referred to in paragraph b of section 20 that is held by any specified entity that is a member of that group in relation to shares of the capital stock of the particular corporation and the excluded corporation is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the excluded corporation for the purposes of the following provisions:

(a)  subparagraphs ii and iii of paragraphs b to b.2 of the definition of “labour expenditure” in the first paragraph of section 1029.8.34;

(b)  paragraphs a.3 and a.5 of the definition of “qualified corporation” in the first paragraph of section 1029.8.34; and

(c)  subparagraph 4 of subparagraph i of subparagraph c.1 of the second paragraph of section 1029.8.34.

However, the first paragraph does not apply where a specified entity is a member at a particular time of a group of persons that controls several corporations, including the particular corporation and the excluded corporation, and where, at that time, the specified entity acts in concert with one or more members of that group to control those corporations.

2015, c. 21, s. 413; 2015, c. 36, s. 103; 2019, c. 14, s. 320.

2015-12-04

1029.8.34.2. Despite Chapter IV of Title II of Book I, if, at any time in a taxation year that ends before 1 March 2014 or begins after 26 March 2015, a particular corporation would, but for this paragraph, be related to a television broadcaster as a consequence of the particular corporation and the television broadcaster being controlled at that time by the same group of persons that includes one or more specified entities, within the meaning of section 1029.8.34.3, neither the shares of the capital stock of the particular corporation and the television broadcaster owned by any specified entity that is a member of that group, nor any right referred to in paragraph b of section 20 that is held by any specified entity that is a member of that group in relation to shares of the capital stock of the particular corporation and the television broadcaster is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the television broadcaster for the purposes of the following provisions:

(a)  subparagraphs ii and iii of paragraphs b to b.2 of the definition of “labour expenditure” in the first paragraph of section 1029.8.34;

(b)  paragraph a.3 of the definition of “qualified corporation” in the first paragraph of section 1029.8.34; and

(c)  subparagraph 4 of subparagraph i of subparagraph c.1 of the second paragraph of section 1029.8.34.

However, the first paragraph does not apply if a specified entity is a member at a particular time of a group of persons that controls several corporations, including the particular corporation and the television broadcaster, and if, at that time, the specified entity acts in concert with one or more members of that group to control those corporations.

2015, c. 21, s. 413; 2015, c. 36, s. 103.

2015-10-21

1029.8.34.2. Despite Chapter IV of Title II of Book I, if, at any time in a taxation year that ends before 1 March 2014, a particular corporation would, but for this paragraph, be related to a television broadcaster as a consequence of the particular corporation and the television broadcaster being controlled at that time by the same group of persons that includes one or more specified entities, within the meaning of section 1029.8.34.3, neither the shares of the capital stock of the particular corporation and the television broadcaster owned by any specified entity that is a member of that group, nor any right referred to in paragraph b of section 20 that is held by any specified entity that is a member of that group in relation to shares of the capital stock of the particular corporation and the television broadcaster is to be taken into account at that time, for the purpose of determining whether the particular corporation is, at that time, not dealing at arm’s length with the television broadcaster for the purposes of the following provisions:

(a)  subparagraphs ii and iii of paragraphs b to b.2 of the definition of “labour expenditure” in the first paragraph of section 1029.8.34;

(b)  paragraph a.3 of the definition of “qualified corporation” in the first paragraph of section 1029.8.34; and

(c)  subparagraph 4 of subparagraph i of subparagraph c.1 of the second paragraph of section 1029.8.34.

However, the first paragraph does not apply if a specified entity is a member at a particular time of a group of persons that controls several corporations, including the particular corporation and the television broadcaster, and if, at that time, the specified entity acts in concert with one or more members of that group to control those corporations.

2015, c. 21, s. 413.