I-3 - Taxation Act

Section 1029.8.36.0.3.118 Disposition versions

2021-06-02

1029.8.36.0.3.118. For the purposes of sections 1029.8.36.0.3.115 to 1029.8.36.0.3.117, an amount of assistance is deemed to be repaid at a particular time by a corporation or a partnership, as the case may be, pursuant to a legal obligation, if that amount

(a)  reduced, because of paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.0.3.109 or because of section 1029.8.36.0.3.114, the amount of the wages referred to in that paragraph b, for the purpose of computing qualified wages in respect of which the corporation or a corporation that is a member of the partnership is deemed to have paid an amount to the Minister under section 1029.8.36.0.3.111 or 1029.8.36.0.3.112, as the case may be;

(b)  was not received by the corporation or the partnership; and

(c)  ceased at the particular time to be an amount that the corporation or the partnership may reasonably expect to receive.

Where the repayment of assistance is in respect of assistance attributable to the wages of the eligible employees of the corporation’s or partnership’s wholly-owned subsidiary, the first paragraph applies in its respect, but subject to the following rules:

(a)  subparagraph a is to be read as if “paragraph b of the definition of “qualified wages” in the first paragraph” and “of the wages referred to in that paragraph b, for the purpose of computing qualified wages in respect of which” were replaced by “subparagraph b of the second paragraph” and “of the corporation’s or partnership’s qualified expenditure in respect of which”, respectively; and

(b)  where the amount was receivable by the corporation’s or partnership’s wholly-owned subsidiary,

i.  the portion before subparagraph a is to be read as if “1029.8.36.0.3.115 to 1029.8.36.0.3.117” and “a corporation or a partnership” were replaced by “1029.8.36.0.3.115 and 1029.8.36.0.3.116” and “the wholly-owned subsidiary of a corporation or a partnership”, and

ii.  both subparagraphs b and c are to be read as if “the corporation or the partnership” were replaced by “the wholly-owned subsidiary”.

2021, c. 14, s. 140.