I-3 - Taxation Act

Section 1135.7.2 Disposition versions

2009-05-15

1135.7.2. For the purposes of sections 1135.6 to 1135.7.1, an amount of assistance is deemed to be repaid by a corporation or partnership at a particular time, pursuant to a legal obligation, if that amount

(a)  reduced the amount determined in accordance with subparagraph i or ii of any of subparagraphs a to b of the first paragraph of section 1135.1 for the purpose of determining the amount that the corporation or a corporation that is a member of the partnership could deduct, in respect of the costs referred to in that first paragraph, in computing its tax otherwise payable for a taxation year under this Part;

(b)  was not received by the corporation or partnership; and

(c)  ceased at that time to be an amount that the corporation or partnership may reasonably expect to receive.

2007, c. 12, s. 285; 2009, c. 5, s. 551.

2007-11-07

1135.7.2. For the purposes of sections 1135.6 to 1135.7.1, an amount of assistance is deemed to be repaid by a corporation or partnership at a particular time, pursuant to a legal obligation, if that amount

(a)  reduced the amount determined in accordance with subparagraph i or ii of either of subparagraphs a and b of the first paragraph of section 1135.1 for the purpose of determining the amount that the corporation or a corporation that is a member of the partnership could deduct, in respect of the costs referred to in that first paragraph, in computing its tax otherwise payable for a taxation year under this Part;

(b)  was not received by the corporation or partnership; and

(c)  ceased at that time to be an amount that the corporation or partnership may reasonably expect to receive.

2007, c. 12, s. 285.