I-3 - Taxation Act

Section 1044.0.2 Disposition versions

2011-04-01

1044.0.2. Where the tax payable under this Part by a taxpayer for a taxation year is more than it otherwise would be because of a consequence for the year, described in paragraph b of the definition of “specified tax consequence” in section 1, in respect of an amount purported to be renounced in a calendar year by a corporation, for the purposes of the provisions of this Part, other than this section, relating to a determination of interest payable under this Part, an amount equal to the additional tax payable is deemed

(a)  to have been paid on the taxpayer’s balance-due day for the taxation year as partial payment of the taxpayer’s tax payable under this Part for the year; and

(b)  to be an excess amount referred to in section 32 of the Tax Administration Act (chapter A-6.002) that has been refunded to the taxpayer on account of the taxpayer’s tax payable under this Part for the taxation year,

i.  if section 359.8.1 applies in respect of expenses that the corporation incurred in the calendar year that follows that in which the corporation is purported to have renounced the amount, on 30 April of the calendar year that follows that subsequent calendar year, and

ii.  in any other case, on 30 April of the calendar year that follows that in which the corporation is purported to have renounced the amount.

1998, c. 16, s. 239; 2009, c. 5, s. 488; 2010, c. 31, s. 175.

2009-05-15

1044.0.2. Where the tax payable under this Part by a taxpayer for a taxation year is more than it otherwise would be because of a consequence for the year, described in paragraph b of the definition of “specified tax consequence” in section 1, in respect of an amount purported to be renounced in a calendar year by a corporation, for the purposes of the provisions of this Part, other than this section, relating to a determination of interest payable under this Part, an amount equal to the additional tax payable is deemed

(a)  to have been paid on the taxpayer’s balance-due day for the taxation year as partial payment of the taxpayer’s tax payable under this Part for the year; and

(b)  to be an excess amount referred to in section 32 of the Act respecting the Ministère du Revenu (chapter M-31) that has been refunded to the taxpayer on account of the taxpayer’s tax payable under this Part for the taxation year,

i.  if section 359.8.1 applies in respect of expenses that the corporation incurred in the calendar year that follows that in which the corporation is purported to have renounced the amount, on 30 April of the calendar year that follows that subsequent calendar year, and

ii.  in any other case, on 30 April of the calendar year that follows that in which the corporation is purported to have renounced the amount.

1998, c. 16, s. 239; 2009, c. 5, s. 488.

2006-03-01

1044.0.2. Where the tax payable under this Part by a taxpayer for a taxation year is more than it otherwise would be because of a consequence for the year, described in paragraph b of the definition of “specified tax consequence” in section 1, in respect of an amount purported to be renounced in a calendar year by a corporation, for the purposes of the provisions of this Part, other than this section, relating to a determination of interest payable under this Part, an amount equal to the additional tax payable is deemed

(a)  to have been paid on the taxpayer’s balance-due day for the taxation year as partial payment of the taxpayer’s tax payable under this Part for the year; and

(b)  to be an excess amount referred to in section 32 of the Act respecting the Ministère du Revenu (chapter M-31) that has been refunded on 30 April of the following calendar year to the taxpayer as partial payment of the taxpayer’s tax payable under this Part for the taxation year.

1998, c. 16, s. 239.