I-3 - Taxation Act

Section 1029.8.36.0.82 Disposition versions

2021-06-04

1029.8.36.0.82. (Repealed).

2000, c. 39, s. 176; 2004, c. 21, s. 346; 2006, c. 36, s. 146; 2009, c. 15, s. 257; 2021, c. 18, s. 121.

2009-06-04

1029.8.36.0.82. If, in respect of the acquisition or lease of qualified property by a particular corporation or partnership, 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 supply or installation of the qualified property, 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 1029.8.36.0.73 for a particular taxation year, the acquisition costs incurred or rental expenses paid by the corporation, in respect of the qualified property, in the particular year, shall be reduced 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 1029.8.36.0.74 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 corporation’s share, for the particular fiscal period, of the acquisition costs incurred or rental expenses paid by the partnership in respect of the qualified property, in that fiscal period, shall be reduced by

i.  the corporation’s share, for the particular fiscal period, of 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 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.

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 amount of the benefit or advantage that the partnership or a person referred to in that subparagraph i has obtained, is entitled to obtain or may reasonably expect to obtain, is equal to the agreed proportion of the amount in respect of the corporation for that fiscal period.

2000, c. 39, s. 176; 2004, c. 21, s. 346; 2006, c. 36, s. 146; 2009, c. 15, s. 257.

2006-12-06

1029.8.36.0.82. If, in respect of the acquisition or lease of qualified property by a particular corporation or partnership, 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 supply or installation of the qualified property, 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 1029.8.36.0.73 for a particular taxation year, the acquisition costs incurred or rental expenses paid by the corporation, in respect of the qualified property, in the particular year, shall be reduced 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 1029.8.36.0.74 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 corporation’s share, for the particular fiscal period, of the acquisition costs incurred or rental expenses paid by the partnership in respect of the qualified property, in that fiscal period, shall be reduced by

i.  the corporation’s share, for the particular fiscal period, of 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 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.

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 amount of the benefit or advantage that the partnership or a person referred to in that subparagraph i has obtained, is entitled to obtain or may reasonably expect to obtain, is equal to such proportion of that amount 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; 2004, c. 21, s. 346; 2006, c. 36, s. 146.

2006-03-01

1029.8.36.0.82. Where, in respect of a contract entered into by a particular corporation or partnership in connection with the acquisition or lease of qualified property, 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 supply or installation of the qualified property, 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 1029.8.36.0.73 for a particular taxation year, the acquisition costs incurred or rental expenses paid by the corporation, in respect of the qualified property, in the particular year, shall be reduced 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 1029.8.36.0.74 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 corporation’s share, for the particular fiscal period, of the acquisition costs incurred or rental expenses paid by the partnership in respect of the qualified property, in that fiscal period, shall be reduced by

i.  the corporation’s share, for the particular fiscal period, of 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 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.

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 amount of the benefit or advantage that the partnership or a person referred to in that subparagraph i has obtained, is entitled to obtain or may reasonably expect to obtain, is equal to such proportion of that amount 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; 2004, c. 21, s. 346.