I-3 - Taxation Act

Section 1029.8.36.166.18 Disposition versions

2012-05-09

1029.8.36.166.18. (Repealed).

2003, c. 9, s. 340; 2012, c. 8, s. 228.

2006-03-01

1029.8.36.166.18. A qualified corporation for a taxation year is deemed, subject to the second paragraph, to have paid to the Minister on the qualified corporation’s balance-due day for that year, an amount equal to 50% of its expenditure in respect of the eligible transaction management system for the year, to the extent that the expenses or royalties included in computing the expenditure in respect of the eligible transaction management system are paid, if the qualified corporation encloses with the fiscal return the qualified corporation is required to file under section 1000 for the year

(a)  the prescribed form containing the prescribed information;

(b)  a copy of the qualification certificate issued to the corporation and referred to in the definition of “qualified corporation” in section 1029.8.36.166.1;

(c)  a copy of the valid certificate issued to the corporation and referred to in the definition of “eligible transaction management system” in section 1029.8.36.166.1; and

(d)  if the corporation is a member of an associated group at the end of the year, the agreement referred to in section 1029.8.36.166.20.

For the purpose of computing the payments that the qualified corporation 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, the qualified 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.

2003, c. 9, s. 340.