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I-3 - Taxation Act

Section 1029.8.21.33
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Full text
1029.8.21.33. (Repealed).
2001, c. 51, s. 103; 2009, c. 15, s. 224.
1029.8.21.33. For the purposes of this division, unless the context indicates otherwise, the share of a corporation that is a member of a partnership, for a fiscal period of the partnership, of any amount is equal to such proportion of that amount as is determined by the formula

A / B.

In the formula provided for in the first paragraph,
(a)  A is the member’s share of the income or loss of the partnership for the fiscal period; and
(b)  B is the income or loss of the partnership for the fiscal period.
Where the income and loss of the partnership for the fiscal period are nil, the formula provided for in the first paragraph shall be applied on the assumption that the partnership’s income for that fiscal period is equal to $1,000,000.
2001, c. 51, s. 103.
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