I-3 - Taxation Act

Section 1029.8.36.53.16 Disposition versions

2021-06-04

1029.8.36.53.16. (Repealed).

2007, c. 12, s. 184; 2021, c. 18, s. 122.

2007-11-07

1029.8.36.53.16. If, in respect of eligible expenses of an eligible taxpayer or of a particular partnership, a person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain a benefit or advantage, other than a benefit or advantage that may reasonably be attributed to the acquisition or installation of the eligible facility to which the eligible expenses relate, whether in the form of a reimbursement, compensation or guarantee, in the form of proceeds of disposition of a property which exceed the fair market value of the property, or in any other form or manner, the following rules apply:

(a)  for the purpose of computing the amount that the taxpayer is deemed to have paid to the Minister for a taxation year under section 1029.8.36.53.11, the amount of the eligible expenses referred to in the first paragraph of that section is to be reduced by the amount of the benefit or advantage relating to the eligible expenses that the person or partnership has obtained, is entitled to obtain or may reasonably expect to obtain on or before the taxpayer’s filing-due date for the taxation year; and

(b)  for the purpose of computing the amount that is deemed to have been paid to the Minister for a taxation year under section 1029.8.36.53.12 by a taxpayer that is a member of the particular partnership, the taxpayer’s share, referred to in the first paragraph of that section, for a fiscal period of the partnership that ends in the taxation year, of the amount of the eligible expenses, is to be reduced

i.  by the taxpayer’s share, for the fiscal period, of the amount of the benefit or advantage relating to the eligible expenses that the person or partnership, other than a person referred to in subparagraph ii, has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the fiscal period, and

ii.  by the amount of the benefit or advantage relating to the eligible expenses that the taxpayer or a person with whom the taxpayer is not dealing at arm’s length has obtained, is entitled to obtain or may reasonably expect to obtain on or before the day that is six months after the end of the fiscal period.

2007, c. 12, s. 184.