I-3 - Taxation Act

Section 1129.45.3.5.4 Disposition versions

2006-04-19

1129.45.3.5.4. For the purposes of sections 1129.45.3.5.2 and 1129.45.3.5.3, the amount determined in the second paragraph, in relation to eligible expenses of a corporation for a particular taxation year or of a partnership for a particular fiscal period, in respect of an eligible access road or bridge of the corporation or partnership, is deemed to be refunded to the corporation in a subsequent taxation year, in this section referred to as the “repayment year”, or to the partnership in a subsequent fiscal period, in this section referred to as the “fiscal period of repayment”, where the Minister of Natural Resources and Wildlife revokes, in the repayment year or in the fiscal period of repayment, the certificate that was issued in respect of the eligible access road or bridge.

The amount to which the first paragraph refers is equal to the amount by which the aggregate of the eligible expenses of the corporation for the particular year, or of the partnership for the particular fiscal period, exceeds the aggregate of all amounts each of which is an amount relating to those expenses that, in a taxation year preceding the repayment year but subsequent to the particular year, or in a fiscal period preceding the fiscal period of repayment but subsequent to the particular fiscal period, was refunded, otherwise paid or allocated to a payment to be made by the corporation or partnership.

No tax is payable for a taxation year under section 1129.45.3.5.2 or 1129.45.3.5.3, in respect of any amount that is refunded or otherwise paid to the corporation, the partnership or another corporation that is a member of the partnership, or is allocated to a payment to be made by the corporation, the partnership or the other corporation, if that amount is included in an amount that is deemed to have been refunded, under this section, in that taxation year or a preceding taxation year or in a fiscal period that ends in that taxation year or in a preceding taxation year.

2005, c. 1, s. 282; 2006, c. 3, s. 35.

2006-03-01

1129.45.3.5.4. For the purposes of sections 1129.45.3.5.2 and 1129.45.3.5.3, the amount determined in the second paragraph, in relation to eligible expenses of a corporation for a particular taxation year or of a partnership for a particular fiscal period, in respect of an eligible access road or bridge of the corporation or partnership, is deemed to be refunded to the corporation in a subsequent taxation year, in this section referred to as the "repayment year", or to the partnership in a subsequent fiscal period, in this section referred to as the "fiscal period of repayment", where the Minister of Natural Resources, Wildlife and Parks revokes, in the repayment year or in the fiscal period of repayment, the certificate that was issued in respect of the eligible access road or bridge.

The amount to which the first paragraph refers is equal to the amount by which the aggregate of the eligible expenses of the corporation for the particular year, or of the partnership for the particular fiscal period, exceeds the aggregate of all amounts each of which is an amount relating to those expenses that, in a taxation year preceding the repayment year but subsequent to the particular year, or in a fiscal period preceding the fiscal period of repayment but subsequent to the particular fiscal period, was refunded, otherwise paid or allocated to a payment to be made by the corporation or partnership.

No tax is payable for a taxation year under section 1129.45.3.5.2 or 1129.45.3.5.3, in respect of any amount that is refunded or otherwise paid to the corporation, the partnership or another corporation that is a member of the partnership, or is allocated to a payment to be made by the corporation, the partnership or the other corporation, if that amount is included in an amount that is deemed to have been refunded, under this section, in that taxation year or a preceding taxation year or in a fiscal period that ends in that taxation year or in a preceding taxation year.

2005, c. 1, s. 282.