I-3 - Taxation Act

Section 1029.8.36.121 Disposition versions

2010-04-20

1029.8.36.121. (Repealed).

1999, c. 86, s. 85; 2001, c. 7, s. 169; 2002, c. 40, s. 201; 2010, c. 5, s. 158.

2006-03-01

1029.8.36.121. Where, in a taxation year, in this section referred to as the “repayment year”, a corporation pays, pursuant to a legal obligation, an amount that may reasonably be considered to be repayment of government assistance or non-government assistance referred to in subparagraph ii of paragraph b of the definition of “qualified wages” in the first paragraph of section 1029.8.36.115, that was taken into account for the purpose of computing the qualified wages attributed to a particular taxation year and paid to an individual by the corporation, and in respect of which the corporation is deemed to have paid an amount to the Minister under section 1029.8.36.116 for the particular taxation year, the corporation is deemed, if it encloses the prescribed form with the fiscal return it is required to file for the repayment year under section 1000, to have paid to the Minister on the corporation’s balance-due day for the repayment year, on account of its tax payable for that year under this Part, an amount equal to the amount by which the amount that it would be deemed to have paid to the Minister for the particular year under section 1029.8.36.116 in respect of the qualified wages, if any amount so paid as repayment of such assistance at or before the end of the repayment year had reduced, for the particular year, the aggregate determined under that subparagraph ii, exceeds the aggregate of

(a)  the amount that the corporation is deemed to have paid to the Minister for the particular year under section 1029.8.36.116 in respect of the qualified wages; and

(b)  any amount that the corporation is deemed to have paid to the Minister under this section for a taxation year preceding the repayment year in respect of an amount paid as repayment of that assistance.

1999, c. 86, s. 85; 2001, c. 7, s. 169; 2002, c. 40, s. 201.