I-3 - Taxation Act

Section 1029.8.36.0.43 Disposition versions

2021-06-04

1029.8.36.0.43. (Repealed).

2000, c. 39, s. 176; 2003, c. 9, s. 249; 2021, c. 18, s. 121.

2006-03-01

1029.8.36.0.43. Where a partnership carries on a recognized business in a fiscal period and incurs in that fiscal period, in the course of carrying on that business, qualified wages in respect of an eligible employee, each corporation that is a member of the partnership at the end of the fiscal period, that is not an excluded corporation for its taxation year in which the fiscal period ends, and that encloses with its fiscal return it is required to file for that taxation year under section 1000 the documents referred to in the second paragraph, is deemed, subject to the third paragraph, to have paid to the Minister on the corporation’s balance-due day for that year, on account of its tax payable for the year under this Part, an amount equal to the amount determined in its respect under section 1029.8.36.0.44 or 1029.8.36.0.45, as the case may be, in relation to the qualified wages.

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

(a)  the prescribed form containing the prescribed information; and

(b)  a copy of the valid certificate issued to the partnership for the fiscal period in respect of the eligible employee and referred to in the definition of “eligible employee” in the first paragraph of section 1029.8.36.0.38.

For the purpose of computing the payments that a corporation referred to in the first paragraph is required to make under subparagraph a of the first paragraph of section 1027, or any of sections 1145, 1159.7, 1175 and 1175.19 where they refer to that subparagraph a, for its taxation year in which the fiscal period of the partnership ends, the corporation is deemed to have paid to the Minister, on account of the aggregate of its tax payable for the year under this Part and of its tax payable for the year under Parts IV, 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 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.

2000, c. 39, s. 176; 2003, c. 9, s. 249.