I-3 - Taxation Act

Section 1129.27.0.2.1 Disposition versions

2015-10-21

1129.27.0.2.1. The Fund shall pay, for a particular taxation year referred to in the second paragraph, a tax equal to 25% of the amount by which the aggregate of all amounts each of which is an amount paid in that particular year for the purchase of a share as first purchaser exceeds the amount determined for that particular year under the second paragraph.

The amount referred to in the first paragraph is,

(a)  where the particular taxation year ends on 31 May 2010, $150,000,000; or

(b)  where the particular taxation year ends on 31 May 2011, the aggregate of

i.  $150,000,000, and

ii.  the amount by which $150,000,000 exceeds the aggregate of all amounts each of which is an amount paid in the taxation year that ends on 31 May 2010 for the purchase of a share as first purchaser;

(c)  where the particular taxation year ends on 31 May 2012, the aggregate of

i.  $150,000,000, and

ii.  the amount by which the amount determined under this paragraph for the taxation year that ends on 31 May 2011 exceeds the aggregate of all amounts each of which is an amount paid in that taxation year for the purchase of a share as first purchaser;

(d)  where the particular taxation year ends on 31 May 2013, $175,000,000;

(e)  where the particular taxation year ends on 31 May 2014, the aggregate of

i.  $200,000,000, and

ii.  the amount by which $175,000,000 exceeds the aggregate of all amounts each of which is an amount paid in the taxation year that ends on 31 May 2013 for the purchase of a share as first purchaser; or

(f)  where the particular taxation year ends on 31 May 2015, to the aggregate of

i.  $200,000,000, and

ii.  the amount by which the amount determined under this paragraph for the taxation year that ends on 31 May 2014 exceeds the aggregate of all amounts each of which is an amount paid in the taxation year for the purchase of a share as first purchaser.

For the purposes of this section, an amount paid for the purchase of a share includes only the issue price paid in respect of the share.

2010, c. 5, s. 194; 2012, c. 8, s. 244; 2013, c. 10, s. 164; 2015, c. 21, s. 510.

2013-06-05

1129.27.0.2.1. The Fund shall pay, for a particular taxation year referred to in the second paragraph, a tax equal to 25% of the amount by which the aggregate of all amounts each of which is an amount paid in that particular year for the purchase of a share as first purchaser exceeds the amount determined for that particular year under the second paragraph.

The amount referred to in the first paragraph is,

(a)  where the particular taxation year ends on 31 May 2010, $150,000,000; or

(b)  where the particular taxation year ends on 31 May 2011, the aggregate of

i.  $150,000,000, and

ii.  the amount by which $150,000,000 exceeds the aggregate of all amounts each of which is an amount paid in the taxation year that ends on 31 May 2010 for the purchase of a share as first purchaser;

(c)  where the particular taxation year ends on 31 May 2012, the aggregate of

i.  $150,000,000, and

ii.  the amount by which the amount determined under this paragraph for the taxation year that ends on 31 May 2011 exceeds the aggregate of all amounts each of which is an amount paid in that taxation year for the purchase of a share as first purchaser;

(d)  where the particular taxation year ends on 31 May 2013, $175,000,000;

(e)  where the particular taxation year ends on 31 May 2014, the aggregate of

i.  $200,000,000, and

ii.  the amount by which $175,000,000 exceeds the aggregate of all amounts each of which is an amount paid in the taxation year that ends on 31 May 2013 for the purchase of a share as first purchaser; or

(f)  where the particular taxation year ends on 31 May 2015, to the aggregate of

i.  $225,000,000, and

ii.  the amount by which the amount determined under this paragraph for the taxation year that ends on 31 May 2014 exceeds the aggregate of all amounts each of which is an amount paid in the taxation year for the purchase of a share as first purchaser.

For the purposes of this section, an amount paid for the purchase of a share includes only the issue price paid in respect of the share.

2010, c. 5, s. 194; 2012, c. 8, s. 244; 2013, c. 10, s. 164.

2012-05-09

1129.27.0.2.1. The Fund shall pay, for a particular taxation year beginning after 31 May 2009 and ending on or before the last day of its taxation year in which the paid-up capital in respect of the shares of its capital stock first reaches 1.25 billion dollars, a tax equal to 25% of the amount by which the aggregate of all amounts each of which is an amount paid during that particular year for the purchase of a share as first purchaser exceeds the amount determined for that particular year under the second paragraph.

The amount referred to in the first paragraph is,

(a)  where the particular taxation year ends on 31 May 2010, $150,000,000; or

(b)  in any other case, the aggregate of

i.  $150,000,000, and

ii.  the amount by which the amount determined under this paragraph for the taxation year that precedes the particular taxation year exceeds the aggregate of all amounts each of which is an amount paid during that preceding taxation year for the purchase of a share as first purchaser.

For the purposes of this section, an amount paid for the purchase of a share includes only the issue price paid in respect of the share.

2010, c. 5, s. 194; 2012, c. 8, s. 244.

2010-04-20

1129.27.0.2.1. The Fund shall pay, for a particular taxation year beginning after 31 May 2009 and ending on or before the last day of its taxation year in which the paid-up capital in respect of the shares of its capital stock first reaches 1.25 billion dollars, a tax equal to 25% of the amount by which the aggregate of all amounts each of which is an amount paid during that particular taxation year for the purchase of a share as first purchaser exceeds $150,000,000.

For the purposes of the first paragraph, an amount paid for the purchase of a share includes only the issue price paid in respect of the share.

2010, c. 5, s. 194.