I-3 - Taxation Act

Section 1029.8.36.59.4 Disposition versions

2010-10-27

1029.8.36.59.4. (Repealed).

2000, c. 39, s. 181; 2009, c. 15, s. 273; 2010, c. 25, s. 138.

2009-06-04

1029.8.36.59.4. For the purpose of computing the amount that is deemed to have been paid to the Minister, for a taxation year, by a taxpayer under section 1029.8.36.59.2 or 1029.8.36.59.3, the following rules apply:

(a)  the taxpayer’s property taxes for the year shall be reduced, where applicable, by the amount of any government assistance or non-government assistance, attributable to the property taxes, that the taxpayer has received, is entitled to receive or may reasonably expect to receive on or before the taxpayer’s filing-due date for that year;

(b)  the taxpayer’s share referred to in the first paragraph of section 1029.8.36.59.3 of the property taxes of a partnership of which the taxpayer is a member, for a fiscal period of that partnership that ends in the taxpayer’s taxation year shall be reduced, where applicable,

i.  by the taxpayer’s share of the amount of any government assistance or non-government assistance, attributable to those property taxes, that the partnership has received, is entitled to receive or may reasonably expect to receive, not later than six months after the end of the partnership’s fiscal period, or

ii.  by the amount of any government assistance or non-government assistance, attributable to those property taxes, that the taxpayer has received, is entitled to receive or may reasonably expect to receive, not later than six months after the end of the partnership’s fiscal period.

For the purposes of subparagraph i of subparagraph b of the first paragraph, a taxpayer’s share of an amount of government assistance or non-government assistance that the partnership has received, is entitled to receive or may reasonably expect to receive, is equal to the agreed proportion of the amount in respect of the taxpayer for the partnership’s fiscal period that ends in the taxpayer’s taxation year.

2000, c. 39, s. 181; 2009, c. 15, s. 273.

2006-03-01

1029.8.36.59.4. For the purpose of computing the amount that is deemed to have been paid to the Minister, for a taxation year, by a taxpayer under section 1029.8.36.59.2 or 1029.8.36.59.3, the following rules apply:

(a)  the taxpayer’s property taxes for the year shall be reduced, where applicable, by the amount of any government assistance or non-government assistance, attributable to the property taxes, that the taxpayer has received, is entitled to receive or may reasonably expect to receive on or before the taxpayer’s filing-due date for that year;

(b)  the taxpayer’s share referred to in the first paragraph of section 1029.8.36.59.3 of the property taxes of a partnership of which the taxpayer is a member, for a fiscal period of that partnership that ends in the taxpayer’s taxation year shall be reduced, where applicable,

i.  by the taxpayer’s share of the amount of any government assistance or non-government assistance, attributable to those property taxes, that the partnership has received, is entitled to receive or may reasonably expect to receive, not later than six months after the end of the partnership’s fiscal period, or

ii.  by the amount of any government assistance or non-government assistance, attributable to those property taxes, that the taxpayer has received, is entitled to receive or may reasonably expect to receive, not later than six months after the end of the partnership’s fiscal period.

For the purposes of subparagraph i of subparagraph b of the first paragraph, the taxpayer’s share of an amount of government assistance or non-government assistance that the partnership has received, is entitled to receive or may reasonably expect to receive, is equal to such proportion of that amount as the taxpayer’s share of the income or loss of the partnership for the fiscal period of the partnership ending in the partnership’s taxation year is of the income or loss of the 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. 181.