I-3 - Taxation Act

Section 1029.8.36.166.45.2 Disposition versions

2022-06-08

1029.8.36.166.45.2. The rate to which subparagraph iii of subparagraph a of the first paragraph of sections 1029.8.36.166.43 and 1029.8.36.166.44 refers, in relation to the portion of a corporation’s eligible expenses or to a corporation’s share of the portion of a partnership’s eligible expenses, in respect of a qualified property, for a taxation year is

(a)  if the property is acquired to be used mainly in a resource region, the rate determined by the formula

5% − [5% × (A −  $250,000,000) /  $250,000,000]; or

(b)  in any other case, the rate determined by the formula

10% − [10% × (A − $250,000,000) / $250,000,000].

In the formulas in the first paragraph, A is the greater of

(a)  $250,000,000; and

(b)  the lesser of $500,000,000 and

i.  for the purpose of determining the rate in relation to the portion of the corporation’s eligible expenses, in respect of the property, the paid-up capital attributed to the corporation for the year, determined in accordance with section 737.18.24, as it read before being repealed, or

ii.  for the purpose of determining the rate in relation to the corporation’s share of the portion of the partnership’s eligible expenses, in respect of the property, the paid-up capital attributed to the partnership for the fiscal period that ends in the year, determined in accordance with section 737.18.24, as it read before being repealed, as if the partnership were a corporation whose taxation year corresponds to its fiscal period.

2020, c. 16, s. 152; 2022, c. 23, s. 113.

2020-09-24

1029.8.36.166.45.2. The rate to which subparagraph iii of subparagraph a of the first paragraph of sections 1029.8.36.166.43 and 1029.8.36.166.44 refers, in relation to the portion of a corporation’s eligible expenses or to a corporation’s share of the portion of a partnership’s eligible expenses, in respect of a qualified property, for a taxation year is

(a)  if the property is acquired to be used mainly in a resource region, the rate determined by the formula

5% − [5% × (A −  $250,000,000) /  $250,000,000]; or

(b)  in any other case, the rate determined by the formula

10% − [10% × (A − $250,000,000) / $250,000,000].

In the formulas in the first paragraph, A is the greater of

(a)  $250,000,000; and

(b)  the lesser of $500,000,000 and the paid-up capital attributed to the corporation for the year, determined in accordance with section 737.18.24.

2020, c. 16, s. 152.