I-3 - Taxation Act

Section 1029.8.36.59.29 Disposition versions

2010-10-27

1029.8.36.59.29. (Repealed).

2005, c. 1, s. 244; 2006, c. 36, s. 164; 2009, c. 15, s. 284; 2010, c. 25, s. 139.

2009-06-04

1029.8.36.59.29. Where a taxpayer who is a member of a partnership pays, in a fiscal period of the partnership, in this section referred to as the “fiscal period of repayment”, pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance, in respect of wages included in computing qualified wages incurred by the partnership in respect of an eligible employee in a particular fiscal period, that is referred to in the portion of section 1029.8.36.59.26 before paragraph a and that, pursuant to that section, reduced the qualified wages for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.25, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ended, the taxpayer is deemed to have paid to the Minister on the taxpayer’s balance-due day for the taxpayer’s taxation year in which the fiscal period of repayment ends, on account of the taxpayer’s tax payable for that year under this Part, if the taxpayer encloses with the fiscal return the taxpayer is required to file for that year under section 1000, or would be required to so file if the taxpayer had tax payable for that year under this Part, the prescribed form containing the prescribed information, and is a member of the partnership at the end of the fiscal period of repayment, an amount equal to the amount by which the amount determined in accordance with the second paragraph exceeds the aggregate of the following amounts:

(a)  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.25 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of the qualified wages, if, except for the purposes of section 1029.8.36.59.26, the agreed proportion in respect of the taxpayer for the particular fiscal period were the same as that for the fiscal period of repayment; and

(b)  any amount that the taxpayer would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount of that assistance repaid by the taxpayer, if, except for the purposes of section 1029.8.36.59.26, the agreed proportion in respect of the taxpayer for the particular fiscal period were the same as that for the fiscal period of repayment.

The amount to which the first paragraph refers is the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.25 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of the qualified wages, if

(a)  the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.59.21 and determined with reference to section 1029.8.36.59.26, were reduced, for the particular fiscal period, by the product obtained by multiplying any amount of such assistance so repaid at or before the end of the fiscal period of repayment by the reciprocal of the agreed proportion in respect of the taxpayer for the fiscal period of repayment; and

(b)  except for the purposes of section 1029.8.36.59.26, the agreed proportion in respect of the taxpayer for the particular fiscal period were the same as that for the fiscal period of repayment.

2005, c. 1, s. 244; 2006, c. 36, s. 164; 2009, c. 15, s. 284.

2006-12-06

1029.8.36.59.29. Where a taxpayer who is a member of a partnership pays, in a fiscal period of the partnership, in this section referred to as the “fiscal period of repayment”, pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance, in respect of wages included in computing qualified wages incurred by the partnership in respect of an eligible employee in a particular fiscal period, that is referred to in the portion of section 1029.8.36.59.26 before paragraph a and that, pursuant to that section, reduced the qualified wages for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.25, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ended, the taxpayer is deemed to have paid to the Minister on the taxpayer’s balance-due day for the taxpayer’s taxation year in which the fiscal period of repayment ends, on account of the taxpayer’s tax payable for that year under this Part, if the taxpayer encloses with the fiscal return the taxpayer is required to file for that year under section 1000, or would be required to so file if the taxpayer had tax payable for that year under this Part, the prescribed form containing the prescribed information, and is a member of the partnership at the end of the fiscal period of repayment, an amount equal to the amount by which the amount determined in accordance with the second paragraph exceeds the aggregate of the following amounts:

(a)  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.25 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of the qualified wages, if, except for the purposes of section 1029.8.36.59.26, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment; and

(b)  any amount that the taxpayer would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount of that assistance repaid by the taxpayer, if, except for the purposes of section 1029.8.36.59.26, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment.

The amount to which the first paragraph refers is the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.25 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of the qualified wages, if

(a)  the aggregate referred to in paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.59.21 and determined with reference to section 1029.8.36.59.26, were reduced, for the particular fiscal period, by the product obtained by multiplying any amount of such assistance so repaid at or before the end of the fiscal period of repayment by the proportion that the income or loss of the partnership for the fiscal period of repayment is of the taxpayer’s share of that income or loss, 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; and

(b)  except for the purposes of section 1029.8.36.59.26, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment.

2005, c. 1, s. 244; 2006, c. 36, s. 164.

2006-03-01

1029.8.36.59.29. Where a taxpayer who is a member of a partnership pays, in a fiscal period of the partnership, in this section referred to as the "fiscal period of repayment", pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance, in respect of wages included in computing qualified wages incurred by the partnership in respect of an eligible employee in a particular fiscal period, that is referred to in the portion of section 1029.8.36.59.26 before paragraph a and that, pursuant to that section, reduced the qualified wages for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister under section 1029.8.36.59.25, in respect of the qualified wages, for the taxpayer’s taxation year in which the particular fiscal period ended, the taxpayer is deemed, subject to the third paragraph, to have paid to the Minister on the taxpayer’s balance-due day for the taxpayer’s taxation year in which the fiscal period of repayment ends, on account of the taxpayer’s tax payable for that year under this Part, if the taxpayer encloses with the fiscal return the taxpayer is required to file for that year under section 1000, or would be required to so file if the taxpayer had tax payable for that year under this Part, the prescribed form containing the prescribed information, and is a member of the partnership at the end of the fiscal period of repayment, an amount equal to the amount by which the amount determined in accordance with the second paragraph exceeds the aggregate of the following amounts:

(a)  the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.25 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of the qualified wages, if, except for the purposes of section 1029.8.36.59.26, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment; and

(b)  any amount that the taxpayer would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount of that assistance repaid by the taxpayer, if, except for the purposes of section 1029.8.36.59.26, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment.

The amount to which the first paragraph refers is the amount that the taxpayer would be deemed to have paid to the Minister under section 1029.8.36.59.25 for the taxpayer’s taxation year in which the particular fiscal period ends, in respect of the qualified wages, if

(a)  the aggregate referred to in paragraph b of the definition of "qualified wages" in the first paragraph of section 1029.8.36.59.21 and determined with reference to section 1029.8.36.59.26, had been reduced, for the particular fiscal period, by the product obtained by multiplying any amount of such assistance so repaid at or before the end of the fiscal period of repayment by the proportion that the income or loss of the partnership for the fiscal period of repayment is of the taxpayer’s share of that income or loss, 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; and

(b)  except for the purposes of section 1029.8.36.59.26, the taxpayer’s share of the income or loss of the partnership for the particular fiscal period had been the same as the taxpayer’s share for the fiscal period of repayment.

For the purpose of computing the payments that a taxpayer referred to in the first paragraph is required to make under section 1025 or 1026, 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, for the taxpayer’s taxation year in which the fiscal period of repayment ends, the taxpayer is deemed to have paid to the Minister, on account of the aggregate of the taxpayer’s tax payable for the year under this Part and of the taxpayer’s 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 the 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.

2005, c. 1, s. 244.