I-3 - Taxation Act

Section 1029.8.36.0.58 Disposition versions

2021-06-04

1029.8.36.0.58. (Repealed).

2000, c. 39, s. 176; 2001, c. 51, s. 164; 2003, c. 9, s. 258; 2021, c. 18, s. 121.

2006-03-01

1029.8.36.0.58. The amount to which the first paragraph of section 1029.8.36.0.57 refers in relation to a qualified brokerage expenditure incurred by a corporation in a taxation year in the course of carrying on a recognized business, is, where the amount to which paragraph a of the definition of “qualified brokerage expenditure” in the first paragraph of section 1029.8.36.0.55 refers is the qualified brokerage expenditure for that taxation year, equal to,

(a)  where the taxation year of the corporation ends before 1 January 2002, 40% of the amount determined for the year under paragraph a of section 1029.8.36.0.56 in relation to the recognized business;

(b)  where the taxation year of the corporation begins before 1 January 2002 and ends after 31 December 2001, the aggregate of

i.  40% of the amount determined for the year under subparagraph i of paragraph b of section 1029.8.36.0.56 in relation to the recognized business, and

ii.  30% of the amount determined for the year under subparagraph ii of paragraph b of section 1029.8.36.0.56 in relation to the recognized business;

(c)  where the taxation year of the corporation begins after 31 December 2001 and ends before 1 January 2005, 30% of the amount determined for the year under paragraph d of section 1029.8.36.0.56 in relation to the recognized business;

(d)  where the taxation year of the corporation begins before 1 January 2005 and ends after 31 December 2004, the aggregate of

i.  30% of the amount obtained by multiplying the amount determined for the year under paragraph d of section 1029.8.36.0.56 in relation to the recognized business, by the proportion that the number of days in the year before 1 January 2005 is of the number of days in the corporation’s year, and

ii.  20% of the amount obtained by multiplying the amount determined for the year under paragraph d of section 1029.8.36.0.56 in relation to the recognized business, by the proportion that the number of days in the year after 31 December 2004 is of the number of days in the corporation’s year;

(e)  where the taxation year of the corporation begins after 31 December 2004 and ends before 1 January 2014, 20% of the amount determined for the year under paragraph d of section 1029.8.36.0.56 in relation to the recognized business; and

(f)  where the taxation year of the corporation ends after 31 December 2013, 20% of the amount determined for the year under paragraph c of section 1029.8.36.0.56 in relation to the recognized business.

2000, c. 39, s. 176; 2001, c. 51, s. 164; 2003, c. 9, s. 258.