I-3 - Taxation Act

Section 1129.0.17 Disposition versions

2009-06-04

1129.0.17. Every corporation that is deemed to have paid an amount to the Minister, under section 1029.8.21.42 or 1029.8.21.44, on account of its tax payable under Part I, shall pay the tax referred to in the second paragraph for a taxation year, in this section referred to as the “repayment year”, if

(a)  an amount relating to an expenditure included in an eligible production expenditure of the corporation is, in the repayment year, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation; or

(b)  an amount relating to an expenditure included in an eligible production expenditure of a partnership of which the corporation is a member and in respect of which the corporation is so deemed to have paid an amount under section 1029.8.21.44 is, in the fiscal period of the partnership that ends in the repayment year, directly or indirectly, refunded or otherwise paid to the partnership or corporation or allocated to a payment to be made by the partnership or corporation.

The tax to which the first paragraph refers is equal to the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister under section 1029.8.21.42, or an amount it would be deemed to have paid to the Minister for a particular taxation year under section 1029.8.21.44, in relation to a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, if the agreed proportion in respect of the corporation for the partnership’s fiscal period that ends in the particular year were the same as that for the partnership’s fiscal period that ends in the repayment year, exceeds the total of

(a)  the aggregate of all amounts each of which is an amount that the corporation would be deemed to have paid to the Minister,

i.  under section 1029.8.21.42, if every amount that is, at or before the end of the repayment year, so refunded, paid or allocated, in relation to an expenditure included in an eligible production expenditure of the corporation for a taxation year, were refunded, paid or allocated in the taxation year, or

ii.  under section 1029.8.21.44, for a particular taxation year, in relation to a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, in this subparagraph referred to as the “fiscal period of repayment”, if

(1)  every amount that is, at or before the end of the fiscal period of repayment, so refunded, paid or allocated, in relation to an expenditure included in an eligible production expenditure of the partnership for a fiscal period, were refunded, paid or allocated in the fiscal period, and

(2)  the agreed proportion in respect of the corporation for the partnership’s fiscal period that ends in the particular taxation year were the same as that for the fiscal period of repayment; and

(b)  the aggregate of all amounts each of which is a tax that the corporation would be required to pay to the Minister under this section, for a taxation year preceding the repayment year, if the agreed proportion in respect of the corporation for a partnership’s fiscal period that ends in the preceding taxation year were the same as that for the partnership’s fiscal period that ends in the repayment year.

For the purposes of subparagraph a of the second paragraph, an amount that is refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation, in relation to an expenditure included in an eligible production expenditure of a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, is deemed to be an amount

(a)  that is refunded or otherwise paid to the partnership or allocated to a payment to be made by the partnership; and

(b)  that is determined by multiplying the amount refunded, paid or allocated by the reciprocal of the agreed proportion in respect of the corporation for the partnership’s fiscal period that ends in the repayment year.

2001, c. 51, s. 210; 2002, c. 40, s. 243; 2006, c. 36, s. 226; 2007, c. 12, s. 235; 2009, c. 15, s. 382.

2007-11-07

1129.0.17. Every corporation that is deemed to have paid an amount to the Minister, under section 1029.8.21.42 or 1029.8.21.44, on account of its tax payable under Part I, shall pay the tax referred to in the second paragraph for a taxation year, in this section referred to as the “repayment year”, if

(a)  an amount relating to an expenditure included in an eligible production expenditure of the corporation is, in the repayment year, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation; or

(b)  an amount relating to an expenditure included in an eligible production expenditure of a partnership of which the corporation is a member and in respect of which the corporation is so deemed to have paid an amount under section 1029.8.21.44 is, in the fiscal period of the partnership that ends in the repayment year, directly or indirectly, refunded or otherwise paid to the partnership or corporation or allocated to a payment to be made by the partnership or corporation.

The tax to which the first paragraph refers is equal to the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister under section 1029.8.21.42, or an amount it would be deemed to have paid to the Minister for a particular taxation year under section 1029.8.21.44, in relation to a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, if the corporation’s share of the income or loss of the partnership for the partnership’s fiscal period that ends in the particular year and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of the partnership that ends in the repayment year, exceeds the total of

(a)  the aggregate of all amounts each of which is an amount that the corporation would be deemed to have paid to the Minister,

i.  under section 1029.8.21.42, if every amount that is, at or before the end of the repayment year, so refunded, paid or allocated, in relation to an expenditure included in an eligible production expenditure of the corporation for a taxation year, were refunded, paid or allocated in the taxation year, or

ii.  under section 1029.8.21.44, for a particular taxation year, in relation to a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, in this subparagraph referred to as the “fiscal period of repayment”, if

(1)  every amount that is, at or before the end of the fiscal period of repayment, so refunded, paid or allocated, in relation to an expenditure included in an eligible production expenditure of the partnership for a fiscal period, were refunded, paid or allocated in the fiscal period, and

(2)  the corporation’s share of the income or loss of the partnership for the partnership’s fiscal period that ends in the particular taxation year and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment; and

(b)  the aggregate of all amounts each of which is a tax that the corporation would be required to pay to the Minister under this section, for a taxation year preceding the repayment year, if the corporation’s share of the income or loss of a partnership for the partnership’s fiscal period that ends in the preceding taxation year and the partnership’s income or loss for that fiscal period were the same as those for the partnership’s fiscal period that ends in the repayment year.

For the purposes of subparagraph a of the second paragraph, an amount that is refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation, in relation to an expenditure included in an eligible production expenditure of a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, is deemed to be an amount

(a)  that is refunded or otherwise paid to the partnership or allocated to a payment to be made by the partnership; and

(b)  that is determined by multiplying the amount refunded, paid or allocated by the proportion that the income or loss of the partnership for the partnership’s fiscal period that ends in the repayment year is of the corporation’s share of that income or loss, on the assumption that, if the partnership’s income and loss for that fiscal period are nil, the partnership’s income is equal to $1,000,000.

2001, c. 51, s. 210; 2002, c. 40, s. 243; 2006, c. 36, s. 226; 2007, c. 12, s. 235.

2006-12-06

1129.0.17. Every corporation that is deemed to have paid an amount to the Minister, under section 1029.8.21.42 or 1029.8.21.44, on account of its tax payable under Part I, shall pay the tax referred to in the second paragraph for a taxation year, in this section referred to as the "repayment year", if

(a)  an amount relating to an expenditure included in an eligible production expenditure of the corporation is, in the repayment year, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation; or

(b)  an amount relating to an eligible production expenditure of a partnership of which the corporation is a member and in respect of which the corporation is so deemed to have paid an amount under section 1029.8.21.44 is, in the fiscal period of the partnership that ends in the repayment year, directly or indirectly, refunded or otherwise paid to the partnership or corporation or allocated to a payment to be made by the partnership or corporation.

The tax to which the first paragraph refers is equal to the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister under section 1029.8.21.42, or an amount it would be deemed to have paid to the Minister for a particular taxation year under section 1029.8.21.44, in relation to a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, if the corporation’s share of the income or loss of the partnership for the partnership’s fiscal period that ends in the particular year and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of the partnership that ends in the repayment year, exceeds the total of

(a)  the aggregate of all amounts each of which is an amount that the corporation would be deemed to have paid to the Minister,

i.  under section 1029.8.21.42, if every amount that is, at or before the end of the repayment year, so refunded, paid or allocated, in relation to an expenditure included in an eligible production expenditure of the corporation for a taxation year, were refunded, paid or allocated in the taxation year, or

ii.  under section 1029.8.21.44, for a particular taxation year, in relation to a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, in this subparagraph referred to as the "fiscal period of repayment", if

(1)  every amount that is, at or before the end of the fiscal period of repayment, so refunded, paid or allocated, in relation to an expenditure included in an eligible production expenditure of the partnership for a fiscal period, were refunded, paid or allocated in the fiscal period, and

(2)  the corporation’s share of the income or loss of the partnership for the partnership’s fiscal period that ends in the particular taxation year and the partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment; and

(b)  the aggregate of all amounts each of which is a tax that the corporation would be required to pay to the Minister under this section, for a taxation year preceding the repayment year, if the corporation’s share of the income or loss of a partnership for the partnership’s fiscal period that ends in the preceding taxation year and the partnership’s income or loss for that fiscal period were the same as those for the partnership’s fiscal period that ends in the repayment year.

For the purposes of subparagraph a of the second paragraph, an amount that is refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation, in relation to an expenditure included in an eligible production expenditure of a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, is deemed to be an amount

(a)  that is refunded or otherwise paid to the partnership, or allocated to a payment to be made by the partnership; and

(b)  that is determined by multiplying the amount refunded, paid or allocated by the proportion that the income or loss of the partnership for the partnership’s fiscal period that ends in the repayment year is of the corporation’s share of that income or loss, on the assumption that, if the partnership’s income and loss for that fiscal period are nil, the partnership’s income is equal to $1,000,000.

2001, c. 51, s. 210; 2002, c. 40, s. 243; 2006, c. 36, s. 226.

2006-03-01

1129.0.17. Every corporation that is deemed to have paid an amount to the Minister, under section 1029.8.21.42 or 1029.8.21.44, on account of its tax payable under Part I, shall pay the tax referred to in the second paragraph for a taxation year, in this section referred to as the "repayment year", if

(a)  an amount relating to an expenditure included in an eligible production expenditure of the corporation is, in the repayment year, directly or indirectly, refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation; or

(b)  an amount relating to an eligible production expenditure of a partnership of which the corporation is a member and in respect of which the corporation is so deemed to have paid an amount under section 1029.8.21.44 is, in the fiscal period of the partnership that ends in the repayment year, directly or indirectly, refunded or otherwise paid to the partnership or corporation or allocated to a payment to be made by the partnership or corporation.

The tax to which the first paragraph refers is equal to the amount by which the aggregate of all amounts each of which is an amount that the corporation is deemed to have paid to the Minister under section 1029.8.21.42, or an amount it would be deemed to have paid to the Minister for a particular taxation year under section 1029.8.21.44, in relation to a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, if the corporation’s share of the income or loss of the partnership for the partnership’s fiscal period that ends in the particular year were the same as the corporation’s share for the fiscal period of the partnership that ends in the repayment year, exceeds the total of

(a)  the aggregate of all amounts each of which is an amount that the corporation would be deemed to have paid to the Minister,

i.  under section 1029.8.21.42, if every amount that is, at or before the end of the repayment year, so refunded, paid or allocated, in relation to an expenditure included in an eligible production expenditure of the corporation for a taxation year, were refunded, paid or allocated in the taxation year, or

ii.  under section 1029.8.21.44, for a particular taxation year, in relation to a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, in this subparagraph referred to as the "fiscal period of repayment", if

(1)  every amount that is, at or before the end of the fiscal period of repayment, so refunded, paid or allocated, in relation to an expenditure included in an eligible production expenditure of the partnership for a fiscal period, were refunded, paid or allocated in the fiscal period, and

(2)  the corporation’s share of the income or loss of the partnership for the partnership’s fiscal period that ends in the particular taxation year were the same as the corporation’s share for the fiscal period of repayment; and

(b)  the aggregate of all amounts each of which is a tax that the corporation would be required to pay to the Minister under this section, for a taxation year preceding the repayment year, if the corporation’s share of the income or loss of a partnership for the partnership’s fiscal period that ends in the preceding taxation year were the same as the corporation’s share for the partnership’s fiscal period that ends in the repayment year.

For the purposes of subparagraph a of the second paragraph, an amount that is refunded or otherwise paid to the corporation or allocated to a payment to be made by the corporation, in relation to an expenditure included in an eligible production expenditure of a partnership of which the corporation is a member at the end of the partnership’s fiscal period that ends in the repayment year, is deemed to be an amount

(a)  that is refunded or otherwise paid to the partnership, or allocated to a payment to be made by the partnership; and

(b)  that is determined by multiplying the amount refunded, paid or allocated by the proportion that the income or loss of the partnership for the partnership’s fiscal period that ends in the repayment year is of the corporation’s share of that income or loss, on the assumption that, if the partnership’s income and loss for that fiscal period are nil, the partnership’s income is equal to $1,000,000.

2001, c. 51, s. 210; 2002, c. 40, s. 243.