I-3 - Taxation Act

Section 1029.8.36.0.107.1 Disposition versions

2015-10-21

1029.8.36.0.107.1. The amount to which the definition of “balance of the threshold of the qualified expenditures” in the first paragraph of section 1029.8.36.0.107 refers in respect of a corporation for a particular taxation year means the amount determined by the formula

A - B.

In the formula in the first paragraph

(a)  A is the aggregate of

i.  the amount by which the aggregate of all amounts each of which is the lesser of the amounts determined for a taxation year preceding the particular year in respect of the corporation under subparagraphs a and b of the first paragraph of section 1029.8.36.0.109, taking into account subparagraphs a and b of the first paragraph of section 1029.8.36.0.115, exceeds the portion of that aggregate in respect of which the corporation is deemed to have paid an amount to the Minister under section 1029.8.36.0.109 for a taxation year preceding the particular year, and

ii.  the aggregate of all amounts each of which is the lesser of the amounts determined under subparagraphs a and b of the first paragraph of section 1029.8.36.0.117.1 for the particular year or a preceding taxation year; and

(b)  B is the aggregate of all amounts each of which is the amount of government assistance or non-government assistance received by the corporation in the particular year or a preceding taxation year in respect of a corporation’s qualified expenditure for a preceding taxation year, the corporation’s share of the amount of government assistance or non-government assistance received by a qualified partnership in a fiscal period of the qualified partnership that ends in the particular taxation year or a preceding taxation year and at the end of which the corporation is a member of the partnership, in respect of the corporation’s share of the partnership’s qualified expenditure for a fiscal period of the partnership that ends in a taxation year preceding the particular year and at the end of which the corporation is a member of the partnership, or the amount of government assistance or non-government assistance received by the corporation in the particular year or a preceding taxation year in respect of a qualified expenditure of a partnership for a fiscal period of the partnership that ends in a taxation year preceding the particular year and at the end of which the corporation is a member of the partnership, in relation to a qualified tourist accommodation establishment, where neither section 1029.8.36.0.115 nor Part III.10.1.10 applies or applied, in relation to the corporation, in respect of the amount of the government assistance or non-government assistance so received.

For the purposes of subparagraph b of the second paragraph, a corporation’s share of a particular amount, in relation to a qualified partnership of which the corporation is a member at the end of a fiscal period, is equal to the agreed proportion of the amount in respect of the corporation for the fiscal period.

2015, c. 21, s. 440.