I-3 - Taxation Act

Section 1029.8.36.0.106.9 Disposition versions

2023-04-01

1029.8.36.0.106.9. A qualified corporation for a taxation year that encloses the documents described in the third paragraph with the fiscal return it is required to file under section 1000 for the year is deemed, subject to the fourth paragraph, to have paid to the Minister on the corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the amount by which the amount determined under section 1029.8.36.0.106.12 is exceeded by the aggregate of all amounts each of which is an amount determined, for a particular month of the year, in respect of an eligible pyrolysis oil, by either of the following formulas:

(a)  where subparagraph b does not apply,

A × B; or

(b)  where the particular month includes 31 March 2023 and ends after that date,

(C × $0.08) + (D × B).

In the formulas in the first paragraph,

(a)  A, expressed as a number of litres, is the lesser of

i.  the qualified corporation’s eligible production of pyrolysis oil, in relation to the eligible pyrolysis oil, for the particular month, and

ii.  the qualified corporation’s monthly ceiling on the production of pyrolysis oil, in respect of the eligible pyrolysis oil, for the particular month;

(b)  B is

i.  where the particular month ends before 1 April 2023, $0.08, or

ii.  in any other case, the amount determined in accordance with section 1029.8.36.0.106.10.1, in respect of a litre of eligible pyrolysis oil;

(c)  C, expressed as a number of litres, is the lesser of

i.  the qualified corporation’s eligible production of pyrolysis oil, in relation to the eligible pyrolysis oil, for the part of the particular month that precedes 1 April 2023, and

ii.  the qualified corporation’s monthly ceiling on the production of pyrolysis oil, in respect of the eligible pyrolysis oil, for that part of the particular month; and

(d)  D, expressed as a number of litres, is the lesser of

i.  the qualified corporation’s eligible production of pyrolysis oil, in relation to the eligible pyrolysis oil, for the part of the particular month that follows 31 March 2023, and

ii.  the qualified corporation’s monthly ceiling on the production of pyrolysis oil, in respect of the eligible pyrolysis oil, for that part of the particular month.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information;

(b)  a copy of a report specifying, in respect of the qualified corporation’s eligible production of pyrolysis oil for each month of the taxation year, the name of the person or partnership that acquired the eligible pyrolysis oil, the number of litres acquired, the date of sale and the date on which and the address where possession is taken;

(c)  if applicable, a copy of the agreement described in section 1029.8.36.0.106.10; and

(d)  a copy of any certificate that has been issued to the corporation for the purposes of this division, for the taxation year or a preceding taxation year, in respect of an eligible pyrolysis oil included in its eligible production of pyrolysis oil for a particular month of the year.

For the purpose of computing the payments that a qualified corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, that corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the taxation year under this Part and of its tax payable for the taxation year under Parts IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the taxation year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

2019, c. 14, s. 348; 2023, c. 2, s. 41.

2019-06-19

1029.8.36.0.106.9. A qualified corporation for a taxation year that encloses the documents described in the third paragraph with the fiscal return it is required to file under section 1000 for the year is deemed, subject to the fourth paragraph, to have paid to the Minister on the corporation’s balance-due day for the year, on account of its tax payable for the year under this Part, an amount equal to the amount by which the amount determined under section 1029.8.36.0.106.12 is exceeded by the aggregate of all amounts each of which is an amount determined, for a particular month of the year, by the formula

A × $0.08.

In the formula in the first paragraph, A, expressed as a number of litres, is the lesser of

(a)  the qualified corporation’s eligible production of pyrolysis oil for the particular month; and

(b)  the qualified corporation’s monthly ceiling on the production of pyrolysis oil for the particular month.

The documents to which the first paragraph refers are the following:

(a)  the prescribed form containing prescribed information;

(b)  a copy of a report specifying, in respect of the qualified corporation’s eligible production of pyrolysis oil for each month of the taxation year, the name of the person or partnership that acquired the eligible pyrolysis oil, the number of litres acquired, the date of sale and the date on which and the address where possession is taken; and

(c)  if applicable, a copy of the agreement described in section 1029.8.36.0.106.10.

For the purpose of computing the payments that a qualified corporation is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1159.7, 1175 and 1175.19 if they refer to that subparagraph a, that corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the taxation year under this Part and of its tax payable for the taxation year under Parts IV.1, VI and VI.1, on the date on or before which each payment is required to be made, an amount equal to the lesser of

(a)  the amount by which the amount determined under the first paragraph for the year exceeds the aggregate of all amounts each of which is the portion of that amount that may reasonably be considered to be deemed to have been paid to the Minister under this paragraph in the taxation year but before that date; and

(b)  the amount by which the amount of that payment, determined without reference to this chapter, exceeds the aggregate of all amounts each of which is an amount that is deemed, under this chapter but otherwise than under the first paragraph, to have been paid to the Minister on that date, for the purpose of computing that payment.

2019, c. 14, s. 348.