I-3 - Taxation Act

Section 1029.8.36.59.39 Disposition versions

2021-06-04

1029.8.36.59.39. (Repealed).

2013, c. 10, s. 121; 2021, c. 18, s. 124.

2013-06-05

1029.8.36.59.39. Where a corporation pays, in a taxation year (in this section referred to as the “repayment year”), pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance that reduced, because of section 1029.8.36.59.38, the issue expenses incurred by the corporation, for the purpose of computing the amount that it is deemed to have paid to the Minister under section 1029.8.36.59.37 in respect of its eligible issue expenses, for a particular taxation year, the corporation is deemed to have paid to the Minister on its balance-due day for the repayment year, on account of its tax payable for that year under this Part, if it encloses the prescribed form containing prescribed information with the fiscal return it is required to file for the repayment year under section 1000, an amount equal to the amount by which the amount that it would be deemed to have paid to the Minister under section 1029.8.36.59.37 for the particular year, in respect of its eligible issue expenses, if any amount of such assistance so repaid at or before the end of the repayment year had reduced, for the particular year, the amount of any government assistance or non-government assistance referred to in section 1029.8.36.59.38, exceeds the aggregate of

(a)  the amount that the corporation is deemed to have paid to the Minister for the particular year under section 1029.8.36.59.37 in respect of its eligible issue expenses; 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 of repayment of that assistance.

2013, c. 10, s. 121.