I-3 - Taxation Act

Section 1129.61.1 Disposition versions

2021-12-10

1129.61.1. Where an agreement referred to in section 359.8 is entered into after 31 December 2018 and before 1 January 2021, the following rules apply:

(a)  for the purposes of subparagraph b of the second paragraph of section 1129.60 and, in the cases to which subparagraph iii applies, section 359.8, the expenses referred to in paragraph a of section 359.8 that are incurred by a corporation in respect of the agreement in a particular month of a calendar year are deemed to have been incurred

i.  in the month of January 2020, if the expenses were incurred in the calendar year 2020 and the agreement was entered into in the calendar year 2019,

ii.  in the month of January 2021, if the expenses were incurred in the calendar year 2021 and the agreement was entered into in the calendar year 2020, and

iii.  12 months earlier, in any other case; and

(b)  section 1129.61 is to be read as if “the following calendar year” in the portion before paragraph a were replaced by “the second following calendar year”.

2021, c. 36, s. 155.