I-3 - Taxation Act

Section 1029.8.36.0.97 Disposition versions

2011-12-09

1029.8.36.0.97. (Repealed).

2006, c. 36, s. 147; 2011, c. 34, s. 83.

2006-12-06

1029.8.36.0.97. For the purposes of subparagraph ii of subparagraph a of the second paragraph of section 1029.8.36.0.95, the qualified corporation’s annual ceiling on the production of ethanol, for the taxation year, is

(a)  if the qualified corporation is a member of an associated group in the taxation year, the lesser of

i.  the number of litres that, but for this subparagraph a, would be determined for the taxation year in respect of the qualified corporation under this paragraph, and

ii.  the number of litres attributed for the taxation year to the qualified corporation pursuant to the agreement described in the second paragraph or, in the absence of such an agreement, zero or the number of litres, determined with reference to the rules set out in the second paragraph, attributed to the qualified corporation by the Minister, where applicable, for the taxation year;

(b)  if subparagraph a does not apply and the qualified corporation’s taxation year includes less than 365 days, or the first or last day of its eligibility period, the proportion of 126 million litres that the number of days in the taxation year that are included in the qualified corporation’s eligibility period is of the greater of 365 and the number of days in the taxation year; and

(c)  in any other case, 126 million litres.

The agreement to which subparagraph ii of subparagraph a of the first paragraph refers is the agreement under which all of the qualified corporations that are members of the associated group in the taxation year attribute to one or more of their number, for the purposes of this section, a number of litres; for that purpose, the total number of litres so attributed for the taxation year must not exceed the greatest of the numbers of litres that, but for that subparagraph a, would be determined for the taxation year in respect of each of those qualified corporations under the first paragraph.

2006, c. 36, s. 147.