I-3 - Taxation Act

Section 1029.8.36.0.53 Disposition versions

2021-06-04

1029.8.36.0.53. (Repealed).

2000, c. 39, s. 176; 2004, c. 21, s. 341; 2009, c. 15, s. 247; 2021, c. 18, s. 121.

2009-06-04

1029.8.36.0.53. Where, in respect of the employment of an individual with a particular corporation or partnership as an eligible employee, a person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain a benefit or advantage, other than a benefit or advantage that may reasonably be attributed to the employment, whether in the form of a reimbursement, compensation or guarantee, in the form of proceeds of disposition of property which exceed the fair market value of the property, or in any other form or manner, the following rules apply:

(a)  for the purpose of computing the amount that the particular corporation is deemed to have paid to the Minister under section 1029.8.36.0.40 for a particular taxation year, the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.0.38 in respect of the particular corporation for the particular year, in relation to the employment of the individual, shall be increased by the amount of the benefit or advantage that the person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain on or before the particular corporation’s filing-due date for the particular year; and

(b)  for the purpose of computing the amount that is deemed to have been paid to the Minister for a taxation year under section 1029.8.36.0.43 by a corporation that is a member of the particular partnership at the end of the partnership’s particular fiscal period ending in the year, the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.0.38 in respect of the particular partnership for that fiscal period, in relation to the employment of the individual, shall be increased by

i.  the amount of the benefit or advantage that a partnership or a person other than a person referred to in subparagraph ii has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the particular fiscal period, and

ii.  the product obtained by multiplying the amount of the benefit or advantage that the corporation or a person with whom the corporation is not dealing at arm’s length has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the particular fiscal period, by the reciprocal of the agreed proportion in respect of the corporation for the particular partnership’s particular fiscal period.

2000, c. 39, s. 176; 2004, c. 21, s. 341; 2009, c. 15, s. 247.

2006-03-01

1029.8.36.0.53. Where, in respect of the employment of an individual with a particular corporation or partnership as an eligible employee, a person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain a benefit or advantage, other than a benefit or advantage that may reasonably be attributed to the employment, whether in the form of a reimbursement, compensation or guarantee, in the form of proceeds of disposition of property which exceed the fair market value of the property, or in any other form or manner, the following rules apply:

(a)  for the purpose of computing the amount that the particular corporation is deemed to have paid to the Minister under section 1029.8.36.0.40 for a particular taxation year, the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.0.38 in respect of the particular corporation for the particular year, in relation to the employment of the individual, shall be increased by the amount of the benefit or advantage that the person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain on or before the particular corporation’s filing-due date for the particular year; and

(b)  for the purpose of computing the amount that is deemed to have been paid to the Minister for a taxation year under section 1029.8.36.0.43 by a corporation that is a member of the particular partnership at the end of the partnership’s particular fiscal period ending in the year, the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.0.38 in respect of the particular partnership for that fiscal period, in relation to the employment of the individual, shall be increased by

i.  the amount of the benefit or advantage that a partnership or a person other than a person referred to in subparagraph ii has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the particular fiscal period, and

ii.  the product obtained by multiplying the amount of the benefit or advantage that the corporation or a person with whom the corporation is not dealing at arm’s length has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the particular fiscal period, by the proportion that the income or loss of the particular partnership for that fiscal period is of the corporation’s share of that income or loss, on the assumption that, if the income and loss of the particular partnership for the particular fiscal period are nil, the particular partnership’s income for that fiscal period is equal to $1,000,000.

2000, c. 39, s. 176; 2004, c. 21, s. 341.