I-3 - Taxation Act

Section 1029.8.36.72.12 Disposition versions

2021-06-04

1029.8.36.72.12. (Repealed).

2001, c. 51, s. 182; 2021, c. 18, s. 125.

2006-03-01

1029.8.36.72.12. For the purposes of this division, where a corporation has received, is entitled to receive or may reasonably expect to receive non-government assistance, or where a person or a partnership has obtained, is entitled to obtain or may reasonably expect to obtain a benefit or advantage, whether in the form of a reimbursement, compensation or guarantee, in the form of proceeds of disposition of property which exceed the fair market value of the property, or in any other form or manner, in respect of a taxation year or a fiscal period in which the base period of the corporation ends in relation to a calendar year, in respect of a recognized business, or a business that would have been a recognized business if a qualification certificate had been issued in its respect, and where it may reasonably be considered that the main reason for the assistance or the benefit or advantage is to reduce, in accordance with subparagraph i or iii of paragraph a or b of section 1029.8.36.72.7, as the case may be, the amount of the salaries or wages paid by the corporation in its base period, in relation to the business, so as to cause the corporation to be deemed to have paid an amount to the Minister under this division for a taxation year or to increase an amount that the corporation is deemed to have paid to the Minister under this division for a taxation year, the amount of the assistance or of the benefit or advantage is deemed to be zero.

2001, c. 51, s. 182.