I-3 - Taxation Act

Section 1129.45.3.41 Disposition versions

2015-10-21

1129.45.3.41. Every corporation that is deemed to have paid an amount to the Minister, under Division II.6.0.10 of Chapter III.1 of Title III of Book IX of Part I, on account of its tax payable under Part I for a particular taxation year, in relation to a qualified expenditure of the corporation for the particular taxation year or to a qualified expenditure of a partnership of which the corporation is a member for a particular fiscal period of the partnership that ends in the particular taxation year, in respect of a qualified tourist accommodation establishment, shall pay the tax computed under the second paragraph for a subsequent taxation year (in this section referred to as the “repayment year”) in which

(a)  an amount relating to an amount included in computing the corporation’s qualified expenditure is, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation; or

(b)  a fiscal period of the partnership ends (in this section referred to as the “fiscal period of repayment”) in which an amount relating to an amount included in computing the partnership’s qualified expenditure is, directly or indirectly, refunded or otherwise paid to the partnership or corporation or allocated to a payment to be made by the partnership or corporation.

The tax to which the first paragraph refers is equal to the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister, under Division II.6.0.10 of Chapter III.1 of Title III of Book IX of Part I, in relation to a qualified expenditure referred to in the first paragraph for a taxation year preceding the repayment year or, if the tax becomes payable in whole or in part because of the application of subparagraph b of the first paragraph, would be so deemed to have paid to the Minister if the agreed proportion in respect of the corporation for the partnership’s fiscal period that ends in that preceding taxation year were the same as that for the fiscal period of repayment, exceeds the total of

(a)  the aggregate of all amounts each of which is an amount that the corporation would be deemed to have paid to the Minister in relation to a qualified expenditure referred to in the first paragraph under Division II.6.0.10 of Chapter III.1 of Title III of Book IX of Part I for a taxation year preceding the repayment year if

i.  every amount that is, at or before the end of the repayment year, so refunded, paid or allocated, in respect of an amount included in computing a qualified expenditure of the corporation, or at or before the end of the fiscal period of repayment, in respect of an amount included in computing a qualified expenditure of the partnership, were refunded, paid or allocated in the particular year or the particular fiscal period, as the case may be, and

ii.  the agreed proportion, in respect of the corporation for the partnership’s fiscal period that ends in that preceding taxation year, were the same as that for the fiscal period of repayment; and

(b)  the aggregate of all amounts each of which is

i.  a tax that the corporation must pay to the Minister under this section for a taxation year preceding the repayment year in relation to an amount relating to an amount included in computing the corporation’s qualified expenditure that is, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation, or

ii.  a tax that the corporation would be required to pay to the Minister under this section, for a taxation year preceding the repayment year in relation to an amount relating to an amount included in computing the partnership’s qualified expenditure that is, directly or indirectly, refunded or otherwise paid to the partnership or corporation if the agreed proportion in respect of the corporation for the partnership’s fiscal period that ends in that preceding taxation year were the same as that for the fiscal period of repayment.

2013, c. 10, s. 165; 2015, c. 21, s. 518.

2013-06-05

1129.45.3.41. Every corporation that is deemed to have paid an amount to the Minister, under section 1029.8.36.0.109, on account of its tax payable under Part I for a particular taxation year, in relation to a qualified expenditure of the corporation for the particular taxation year or to a qualified expenditure of a partnership of which the corporation is a member for a particular fiscal period of the partnership that ends in the particular taxation year, in respect of a qualified tourist accommodation establishment, shall pay the tax computed under the second paragraph for a subsequent taxation year (in this section referred to as the “repayment year”) in which

(a)  an amount relating to an amount included in computing the corporation’s qualified expenditure is, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation; or

(b)  a fiscal period of the partnership ends (in this section referred to as the “fiscal period of repayment”) in which an amount relating to an amount included in computing the partnership’s qualified expenditure is, directly or indirectly, refunded or otherwise paid to the partnership or corporation or allocated to a payment to be made by the partnership or corporation.

The tax to which the first paragraph refers is equal to the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister, under Division II.6.0.10 of Chapter III.1 of Title III of Book IX of Part I, in relation to a qualified expenditure referred to in the first paragraph for a taxation year preceding the repayment year or, if the tax becomes payable in whole or in part because of the application of subparagraph b of the first paragraph, would be so deemed to have paid to the Minister if the agreed proportion in respect of the corporation for the partnership’s fiscal period that ends in that preceding taxation year were the same as that for the fiscal period of repayment, exceeds the total of

(a)  the aggregate of all amounts each of which is an amount that the corporation would be deemed to have paid to the Minister in relation to a qualified expenditure referred to in the first paragraph under Division II.6.0.10 of Chapter III.1 of Title III of Book IX of Part I for a taxation year preceding the repayment year if

i.  every amount that is, at or before the end of the repayment year, so refunded, paid or allocated, in respect of an amount included in computing a qualified expenditure of the corporation, or at or before the end of the fiscal period of repayment, in respect of an amount included in computing a qualified expenditure of the partnership, were refunded, paid or allocated in the particular year or the particular fiscal period, as the case may be, and

ii.  the agreed proportion, in respect of the corporation for the partnership’s fiscal period that ends in that preceding taxation year, were the same as that for the fiscal period of repayment; and

(b)  the aggregate of all amounts each of which is

i.  a tax that the corporation must pay to the Minister under this section for a taxation year preceding the repayment year in relation to an amount relating to an amount included in computing the corporation’s qualified expenditure that is, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation, or

ii.  a tax that the corporation would be required to pay to the Minister under this section, for a taxation year preceding the repayment year in relation to an amount relating to an amount included in computing the partnership’s qualified expenditure that is, directly or indirectly, refunded or otherwise paid to the partnership or corporation if the agreed proportion in respect of the corporation for the partnership’s fiscal period that ends in that preceding taxation year were the same as that for the fiscal period of repayment.

2013, c. 10, s. 165.