I-3 - Taxation Act

Section 1029.8.36.166.60.10 Disposition versions

2015-10-21

1029.8.36.166.60.10. The rate to which the first paragraph of sections 1029.8.36.166.60.8 and 1029.8.36.166.60.9 refers, in relation to a qualified corporation’s qualified expenditure or such a corporation’s share of the qualified expenditure of a qualified partnership, in respect of a qualified building, for a particular taxation year is,

(a)  if the qualified building is situated in an administrative region referred to in any of subparagraphs iv to vii of paragraph a of the definition of “resource region” in the first paragraph of section 1029.8.36.166.40, the rate determined by the formula

50% - [50% × (A - $15,000,000)/$5,000,000];

(b)  if the qualified building is situated in one of the regional county municipalities referred to in subparagraphs i.2, i.3 and ii.2 of paragraph b of the definition of “resource region” in the first paragraph of section 1029.8.36.166.40 and

i.  the corporation is not deemed to have paid an amount to the Minister for the particular taxation year under Division II.6.6.6.1, and is not associated, in the particular taxation year, with another corporation that is deemed to have paid an amount to the Minister under that Division II.6.6.6.1, for a taxation year that ends in the particular taxation year, the rate determined by the formula

45% - [45% × (A - $15,000,000)/$5,000,000], or

ii.  subparagraph i does not apply to the corporation, the rate determined by the formula

40% - [40% × (A - $15,000,000)/$5,000,000];

(c)  if the qualified building is situated in an administrative region referred to in subparagraph ii or iii of paragraph a of the definition of “resource region” in the first paragraph of section 1029.8.36.166.40 or in any of the regional county municipalities referred to in subparagraphs i, i.1, ii, ii.1 and iii to vi of paragraph b of that definition and

i.  the corporation is not deemed to have paid an amount to the Minister for the particular taxation year under Division II.6.6.6.1, and is not associated, in the particular taxation year, with another corporation that is deemed to have paid an amount to the Minister under that Division II.6.6.6.1, for a taxation year that ends in the particular taxation year, the rate determined by the formula

35% - [35% × (A - $15,000,000)/$5,000,000], or

ii.  subparagraph i does not apply to the corporation, the rate determined by the formula

30% - [30% × (A - $15,000,000)/$5,000,000]; and

(d)  in any other case, the rate determined by the formula

20% - [20% × (A - $15,000,000)/$5,000,000].

In the formulas in the first paragraph, A is the greater of

(a)  $15,000,000; and

(b)  the lesser of $20,000,000 and the corporation’s paid-up capital for the year, determined in accordance with section 1029.8.36.166.60.5.

2015, c. 21, s. 466.