I-3 - Taxation Act

Section 1129.45.41.6 Disposition versions

2006-03-01

1129.45.41.6. Every corporation that is deemed to have paid an amount to the Minister, under section 1029.8.36.166.9, on account of its tax payable for a particular taxation year under Part I, in relation to its expenditure in respect of administrative costs for the particular year, shall pay the tax referred to in the second paragraph for a subsequent taxation year, in this section referred to as the “revocation year”, in which the Minister of Finance revokes the qualification certificate referred to in the definition of “qualified corporation” in section 1029.8.36.166.1 that was issued to the corporation for the particular year.

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 1029.8.36.166.9 or 1029.8.36.166.26, in relation to the expenditure in respect of administrative costs, exceeds the aggregate of all amounts each of which is a tax the corporation is required to pay to the Minister under section 1129.45.41.2, for a taxation year preceding the revocation year, in relation to the expenditure in respect of administrative costs.

2003, c. 9, s. 413.