I-3 - Taxation Act

Section 1029.8.35.1 Disposition versions

2010-10-27

1029.8.35.1. The amount that a corporation is deemed to have paid to the Minister, under section 1029.8.35, on account of its tax payable under this Part for a taxation year that ends before 1 January 2009 in respect of a property must not exceed the amount by which $2,187,500 exceeds the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister under that section in respect of the property for a preceding taxation year exceeds the aggregate of all amounts each of which is an amount that the corporation is required to pay under section 1129.2 in respect of the property for a preceding taxation year.

For the purposes of the first paragraph, where the property is co-produced by the corporation and one or more other qualified corporations, the amount of $2,187,500 is replaced by the amount obtained by applying to $2,187,500 the corporation’s share, expressed as a percentage, of the production costs in relation to the production of the property that is specified in the favourable advance ruling given or the certificate issued, as the case may be, by the Société de développement des entreprises culturelles in respect of the property.

1997, c. 85, s. 256; 1999, c. 83, s. 192; 2001, c. 51, s. 108; 2002, c. 9, s. 59; 2004, c. 21, s. 302; 2005, c. 23, s. 155; 2010, c. 5, s. 144; 2010, c. 25, s. 127.

2010-04-20

1029.8.35.1. Subject to subparagraph b of the third paragraph, the amount that a corporation is deemed to have paid to the Minister, under section 1029.8.35, on account of its tax payable for a taxation year under this Part in respect of a property, must not exceed the amount by which $2,500,000 exceeds the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister under that section in respect of the property for a preceding taxation year exceeds the aggregate of all amounts each of which is an amount that the corporation is required to pay under section 1129.2 in respect of the property for a preceding taxation year.

For the purposes of the first paragraph, where the property is co-produced by the corporation and one or more other qualified corporations, the amount of $2,500,000 is replaced by the amount obtained by applying to $2,500,000 the corporation’s share, expressed as a percentage, of the production costs in relation to the production of the property that is specified in the favourable advance ruling given or the certificate issued, as the case may be, by the Société de développement des entreprises culturelles in respect of the property.

Where the property is a property referred to in the first paragraph of section 1029.8.35.2, the following rules apply:

(a)  for the purpose of determining the amount that a corporation is deemed to have paid to the Minister, under section 1029.8.35, on account of its tax payable under this Part in respect of the property for a taxation year that ends before 1 January 2009, the amount of $2,500,000 is to be replaced, wherever it appears in the first and second paragraphs, by the amount of $2,187,500; and

(b)  for the purpose of determining the amount that a corporation is deemed to have paid to the Minister, under section 1029.8.35, on account of its tax payable under this Part in respect of the property for a taxation year that ends after 31 December 2008, the first and second paragraphs do not apply.

1997, c. 85, s. 256; 1999, c. 83, s. 192; 2001, c. 51, s. 108; 2002, c. 9, s. 59; 2004, c. 21, s. 302; 2005, c. 23, s. 155; 2010, c. 5, s. 144.

2006-03-01

1029.8.35.1. The amount that a corporation is deemed to have paid to the Minister, under section 1029.8.35, on account of its tax payable for a taxation year under this Part in respect of a property, must not exceed the amount by which $2,500,000 exceeds the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister under that section in respect of the property for a preceding taxation year exceeds the aggregate of all amounts each of which is an amount that the corporation is required to pay under section 1129.2 in respect of the property for a preceding taxation year.

For the purposes of the first paragraph, where the property is co-produced by the corporation and one or more other qualified corporations, the amount of $2,500,000 is replaced by the amount obtained by applying to $2,500,000 the corporation’s share, expressed as a percentage, of the production costs in relation to the production of the property that is specified in the favourable advance ruling given or the certificate issued, as the case may be, by the Société de développement des entreprises culturelles in respect of the property.

Where the property is a property referred to in the first paragraph of section 1029.8.35.2, the amount of $2,500,000 shall be replaced, wherever it appears, in the first and second paragraphs by the amount of $2,187,500.

1997, c. 85, s. 256; 1999, c. 83, s. 192; 2001, c. 51, s. 108; 2002, c. 9, s. 59; 2004, c. 21, s. 302; 2005, c. 23, s. 155.