I-3 - Taxation Act

Section 1029.8.36.0.18 Disposition versions

2006-03-01

1029.8.36.0.18. The amount to which paragraph a of the definition of “qualified wages” in the first paragraph of section 1029.8.36.0.17 refers for a taxation year of a corporation in relation to an eligible employee is equal,

(a)  where the corporation carries on or may carry on its business in a new economy centre and its taxation year ends before 16 June 1999, to the amount obtained by multiplying $41,667 by the proportion that the number of days in the taxation year that are within the eligibility period of the corporation during which the employee qualifies as an eligible employee of the corporation is of 365;

(b)  where the corporation carries on or may carry on its business in a new economy centre and its taxation year includes 16 June 1999, to the aggregate of

i.  the amount obtained by multiplying $41,667 by the proportion that the number of days in the taxation year before 16 June 1999 that are within the eligibility period of the corporation during which the employee qualifies as an eligible employee of the corporation is of 365, and

ii.  the amount obtained by multiplying $37,500 by the proportion that the number of days in the taxation year after 15 June 1999 that are within the eligibility period of the corporation during which the employee qualifies as an eligible employee of the corporation is of 365; and

(c)  in any other case, to the amount obtained by multiplying $37,500 by the proportion that the number of days in the taxation year that are within the eligibility period of the corporation during which the employee qualifies as an eligible employee of the corporation is of 365.

The amount to which paragraph a of the definition of “specified wages” in the first paragraph of section 1029.8.36.0.17 refers for a taxation year of a corporation in relation to a specified employee of a designated site is equal to the amount obtained by multiplying $37,500 by the proportion that the number of days in the specified period of the corporation for the year in respect of the designated site during which the employee qualifies as a specified employee of the corporation is of 365.

2000, c. 39, s. 176; 2003, c. 9, s. 222.