I-3 - Taxation Act

Section 600.0.1 Disposition versions

2006-03-01

600.0.1. Except for the purposes of Chapter II.1 of this Title, paragraph i of section 255 and paragraph l of section 257, where, in a particular taxation year, an individual is a member of a particular partnership and the particular partnership deducted, in computing its income for its taxation year ending in the particular taxation year, an amount under paragraph a of section 130 or the second paragraph of section 130.1 in respect of a certified Québec film, within the meaning of the regulations under the said section 130, or another partnership deducted, in the same respect, an amount under one of the said paragraphs which may reasonably be considered to have contributed to the creation or increase of the individual’s share of the loss of the particular partnership which, but for this section, would be determined for the particular taxation year, or to the reduction or cancellation of the individual’s share of the income of the particular partnership which, but for this section, would be determined for the particular taxation year, the following rules apply:

(a)  where the individual would, but for this section, have a share of the income of the particular partnership for the particular taxation year, that share is deemed, notwithstanding paragraph f of section 600, to be equal to the aggregate of his share of the income of the particular partnership for the particular taxation year which, but for this section, would be determined in the said paragraph f of his share of the amount so deducted by the particular partnership in computing its income for the particular taxation year pursuant to the said paragraph a of section 130 or the said second paragraph of section 130.1 and, as the case may be, of the amount so deducted by the other partnership pursuant to the said paragraph a of section 130 or the said second paragraph of section 130.1 to the extent that it may reasonably be considered that the deduction of that amount by the other partnership contributed to the reduction of that share of the income of the particular partnership for the particular taxation year which, but for this section, would have been determined in the said paragraph f,

(b)  where the individual would, but for this section, have a share of the loss of the particular partnership for the particular taxation year, that share is deemed, notwithstanding paragraph g of section 600, to be equal to the amount by which his share of the loss of the particular partnership for the particular taxation year which, but for this section, would be determined in the said paragraph g exceeds the lesser of

i.  the aggregate of his share of the amount so deducted by the particular partnership, in computing its income for that taxation year, pursuant to the said paragraph a of section 130 or the said second paragraph of section 130.1 and, as the case may be, of the amount so deducted by the other partnership pursuant to the said paragraph a of section 130 or the said second paragraph of section 130.1 to the extent that it may reasonably be considered that the deduction of that amount by the other partnership contributed to the creation or increase of that share of the loss of the particular partnership for the particular taxation year which, but for this section, would have been determined in the said paragraph g; and

ii.  his share of the loss of the particular partnership for the particular taxation year which, but for this section, would be determined in paragraph g of section 600;

(c)  where the amount determined in subparagraph i of paragraph b for the particular year exceeds the amount referred to in subparagraph ii of the said paragraph for the same year, the excess amount is deemed to constitute the individual’s share of the income of the particular partnership for the particular taxation year;

(d)  where, for the particular taxation year, the individual would, but for this section, have neither a share of the income of the particular partnership nor a share of the loss of the particular partnership, he is deemed to have a share of the income of the particular partnership for the particular taxation year in an amount equal to the aggregate of his share of the amount so deducted by the particular partnership, in computing its income for that taxation year, pursuant to the said paragraph a of section 130 or the said second paragraph of section 130.1 and, as the case may be, of the amount so deducted by the other partnership under the said paragraph a of section 130 or the said second paragraph of section 130.1 to the extent that it may reasonably be considered that the deduction of that amount by the other partnership contributed to the cancellation of the individual’s share of the income of the particular partnership for the particular taxation year which, but for this section, would otherwise have been determined in paragraph f of section 600.

1989, c. 5, s. 74; 1990, c. 7, s. 19; 1997, c. 3, s. 71.