I-3 - Taxation Act

Section 1029.8.36.0.75 Disposition versions

2021-06-04

1029.8.36.0.75. (Repealed).

2000, c. 39, s. 176; 2009, c. 15, s. 254; 2021, c. 18, s. 121.

2009-06-04

1029.8.36.0.75. For the purpose of computing the amount that a corporation is deemed to have paid to the Minister for a taxation year under section 1029.8.36.0.73 or 1029.8.36.0.74, the following rules apply:

(a)  the amount of the acquisition costs or rental expenses referred to in the first paragraph of section 1029.8.36.0.73 shall be reduced, where applicable, by the aggregate of all amounts each of which is an amount of any government assistance or non-government assistance, attributable to the costs or expenses, that the corporation has received, is entitled to receive or may reasonably expect to receive, on or before the corporation’s filing-due date for that year; and

(b)  the share referred to in the first paragraph of section 1029.8.36.0.74, for a fiscal period of a partnership ending in that taxation year, of a corporation that is a member of that partnership of the amount of the acquisition costs or rental expenses referred to therein, shall be reduced, where applicable,

i.  by the corporation’s share, for that fiscal period, of the aggregate of all amounts each of which is an amount of any government assistance or non-government assistance, attributable to the costs or expenses, that the partnership has received, is entitled to receive or may reasonably expect to receive, on or before the day that is six months after the end of the fiscal period in which the partnership incurred the acquisition costs or paid the rental expenses, and

ii.  by the aggregate of all amounts each of which is an amount of any government assistance or non-government assistance, attributable to the costs or expenses, that the corporation has received, is entitled to receive or may reasonably expect to receive, on or before the day that is six months after the end of the fiscal period in which the partnership incurred the acquisition costs or paid the rental expenses.

For the purposes of subparagraph i of subparagraph b of the first paragraph, the share, for a fiscal period of a partnership, of a corporation that is a member of that partnership of the aggregate of all amounts each of which is an amount of any government assistance or non-government assistance that the partnership has received, is entitled to receive or may reasonably expect to receive, is equal to the agreed proportion of the aggregate in respect of the corporation for that fiscal period.

2000, c. 39, s. 176; 2009, c. 15, s. 254.

2006-03-01

1029.8.36.0.75. For the purpose of computing the amount that a corporation is deemed to have paid to the Minister for a taxation year under section 1029.8.36.0.73 or 1029.8.36.0.74, the following rules apply:

(a)  the amount of the acquisition costs or rental expenses referred to in the first paragraph of section 1029.8.36.0.73 shall be reduced, where applicable, by the aggregate of all amounts each of which is an amount of any government assistance or non-government assistance, attributable to the costs or expenses, that the corporation has received, is entitled to receive or may reasonably expect to receive, on or before the corporation’s filing-due date for that year; and

(b)  the share referred to in the first paragraph of section 1029.8.36.0.74, for a fiscal period of a partnership ending in that taxation year, of a corporation that is a member of that partnership of the amount of the acquisition costs or rental expenses referred to therein, shall be reduced, where applicable,

i.  by the corporation’s share, for that fiscal period, of the aggregate of all amounts each of which is an amount of any government assistance or non-government assistance, attributable to the costs or expenses, that the partnership has received, is entitled to receive or may reasonably expect to receive, on or before the day that is six months after the end of the fiscal period in which the partnership incurred the acquisition costs or paid the rental expenses, and

ii.  by the aggregate of all amounts each of which is an amount of any government assistance or non-government assistance, attributable to the costs or expenses, that the corporation has received, is entitled to receive or may reasonably expect to receive, on or before the day that is six months after the end of the fiscal period in which the partnership incurred the acquisition costs or paid the rental expenses.

For the purposes of subparagraph i of subparagraph b of the first paragraph, the share, for a fiscal period of a partnership, of a corporation that is a member of that partnership of the aggregate of all amounts each of which is an amount of any government assistance or non-government assistance that the partnership has received, is entitled to receive or may reasonably expect to receive, is equal to such proportion of that aggregate as the corporation’s share of the income or loss of the partnership for that fiscal period is of the income or loss of that partnership for that fiscal period, on the assumption that, if the income and loss of the partnership for that fiscal period are nil, the partnership’s income for that fiscal period is equal to $1,000,000.

2000, c. 39, s. 176.