I-3 - Taxation Act

Section 1029.8.36.166.60.11 Disposition versions

2020-12-10

1029.8.36.166.60.11. No amount may be deemed to have been paid to the Minister by a qualified corporation for a taxation year under section 1029.8.36.166.60.8 or 1029.8.36.166.60.9 in respect of a qualified building where, otherwise than by reason of its involuntary destruction by fire, theft or water,

(a)  the qualified building is disposed of before the building begins to be used in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1;

(b)  the qualified corporation did not use the qualified building in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 at any time in the 48-month period that begins on the day after the last day of the taxation year where, for the first time, the qualified corporation incurred an expenditure of a capital nature in respect of the qualified building; or

(c)  the qualified partnership did not use the qualified building in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 at any time in the 48-month period that begins on the day after the last day of the fiscal period where, for the first time, the qualified partnership incurred an expenditure of a capital nature in respect of the qualified building.

Where a qualified corporation or a qualified partnership has begun to use a qualified building in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 within a 48-month period following the last day of the taxation year or fiscal period, as the case may be, where, for the first time, it incurred an expenditure of a capital nature in respect of the qualified building and, otherwise than by reason of its involuntary destruction by fire, theft or water, it disposes of the qualified building or ceases to use it in a manner consistent with that paragraph b, at any given time in the 48-month period that begins on the day on which that use began, the amount deemed to have been paid to the Minister for a taxation year under section 1029.8.36.166.60.8 or 1029.8.36.166.60.9 in respect of the qualified building is deemed, for the purposes of that section, to be equal to the proportion of the amount otherwise determined that the number of months in the period that begins on the day on which the use began and that ends at the given time is of 48.

For the purposes of this section, the following rules apply:

(a)  a month means a period that begins on a particular day in a calendar month and that ends

i.  on the day immediately before the day in the following calendar month that has the same calendar number as the particular day, or

ii.  where the following calendar month does not have a day that has the same calendar number as the particular day, on the last day of the following month;

(b)  a qualified building is deemed to be used in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 for an entire month if the building is so used for more than 15 days in the month;

(c)  a qualified building that temporarily ceases to be used in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 is deemed to be used in a manner consistent with that paragraph b if the Minister is of the opinion that the use ceased for reasonable grounds; and

(d)  where the qualified corporation disposes of a qualified building to a corporation with which it is associated at the time of the disposition, the qualified building is deemed not to have been disposed of at that time and the qualified corporation is deemed, from that time and for the purposes of this subparagraph, to be the same person as the purchaser of the qualified building.

2015, c. 21, s. 466; I.N. 2020-12-10.

2015-10-21

1029.8.36.166.60.11. No amount may be deemed to have been paid to the Minister by a qualified corporation for a taxation year under section 1029.8.36.166.60.8 or 1029.8.36.166.60.9 in respect of a qualified building where, otherwise than by reason of its involuntary destruction by fire, theft or water,

(a)  the qualified building is disposed of before the building begins to be used in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1;

(b)  the qualified corporation did not use the qualified building in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 at any time in the 48-month period that begins on the day after the last day of the taxation year where, for the first time, the qualified corporation incurred an expenditure of a capital nature in respect of the qualified building; or

(c)  the qualified partnership did not use the qualified building in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 at any time in the 48-month period that begins on the day after the last day of the fiscal period where, for the first time, the qualified partnership incurred an expenditure of a capital nature in respect of the qualified building.

Where a qualified corporation or a qualified partnership has begun to use a qualified building in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 within a 48-month period following the last day of the taxation year or fiscal period, as the case may be, where, for the first time, it incurred an expenditure of a capital nature in respect of the qualified building and, otherwise than by reason of its involuntary destruction by fire, theft or water, it disposes of the qualified building or ceases to use it in a manner consistent with that paragraph b, at any given time in the 48-month period that begins on the day on which that use began, the amount deemed to have been paid to the Minister for a taxation year under section 1029.8.36.166.60.8 or 1029.8.36.166.60.9 in respect of the qualified building is deemed, for the purposes of that section, to be equal to the proportion of the amount otherwise determined that the number of months in the period that begins on the day on which the use began and that ends at the given time is of 48.

For the purposes of this section, the following rules apply:

(a)  a month means a period that begins on a particular day in a calendar month and that ends

i.  on the day immediately before the day in the following calendar month that has the same calendar number as the particular day, or

ii.  where the following calendar month does not have a day that has the same calendar number on the particular day, on the last day of the following month;

(b)  a qualified building is deemed to be used in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 for an entire month if the building is so used for more than 15 days in the month;

(c)  a qualified building that temporarily ceases to be used in a manner consistent with paragraph b of the definition of “qualified building” in the first paragraph of section 1029.8.36.166.60.1 is deemed to be used in a manner consistent with that paragraph b if the Minister is of the opinion that the use ceased for reasonable grounds; and

(d)  where the qualified corporation disposes of a qualified building to a corporation with which it is associated at the time of the disposition, the qualified building is deemed not to have been disposed of at that time and the qualified corporation is deemed, from that time and for the purposes of this subparagraph, to be the same person as the purchaser of the qualified building.

2015, c. 21, s. 466.