I-3 - Taxation Act

Section 1029.8.36.154 Disposition versions

2012-05-09

1029.8.36.154. (Repealed).

2002, c. 9, s. 113; 2002, c. 40, s. 206; 2012, c. 8, s. 228.

2006-03-01

1029.8.36.154. Where, in a taxation year in this section referred to as the “repayment year”, a corporation pays, pursuant to a legal obligation, an amount that may reasonably be considered to be repayment of government assistance or non-government assistance that was taken into account for the purpose of computing qualified wages paid by the corporation to an individual for a particular taxation year and in respect of which the corporation is deemed to have paid an amount to the Minister under section 1029.8.36.152 for the particular taxation year, the corporation is deemed to have paid to the Minister for the repayment year, if it encloses the prescribed form with its fiscal return it is required to file for that year under section 1000, an amount equal to the amount by which the amount that it would be deemed to have paid to the Minister for the particular year under section 1029.8.36.152 in respect of the qualified wages, if any amount so paid as repayment of such assistance at or before the end of the repayment year had reduced, for the particular year, the aggregate determined under subparagraph i of paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.147, exceeds the aggregate of

(a)  the amount that the corporation is deemed to have paid to the Minister for the particular year under section 1029.8.36.152 in respect of the qualified wages; and

(b)  any amount that the corporation is deemed to have paid to the Minister under this section for a taxation year preceding the repayment year in respect of an amount paid as repayment of that assistance.

2002, c. 9, s. 113; 2002, c. 40, s. 206.