I-3 - Taxation Act

Section 1175.25 Disposition versions

2011-04-01

1175.25. Where the initial qualification certificate issued by the Minister of Finance in respect of a major investment project is revoked and an amount has been determined, in respect of a partnership, under section 94.0.3.3 of the Tax Administration Act (chapter A-6.002), in relation to the major investment project, any person that is a member of the partnership at the end of the partnership’s fiscal period in which the certificate is revoked, shall pay, for the person’s taxation year in which the fiscal period ends, a tax equal to the person’s share of that amount.

For the purposes of the first paragraph, a person’s share of an amount is equal to the agreed proportion of the amount in respect of the person for the partnership’s fiscal period.

2002, c. 9, s. 139; 2009, c. 15, s. 452; 2010, c. 31, s. 175.

2009-06-04

1175.25. Where the initial qualification certificate issued by the Minister of Finance in respect of a major investment project is revoked and an amount has been determined, in respect of a partnership, under section 94.0.3.3 of the Act respecting the Ministère du Revenu (chapter M-31), in relation to the major investment project, any person that is a member of the partnership at the end of the partnership’s fiscal period in which the certificate is revoked, shall pay, for the person’s taxation year in which the fiscal period ends, a tax equal to the person’s share of that amount.

For the purposes of the first paragraph, a person’s share of an amount is equal to the agreed proportion of the amount in respect of the person for the partnership’s fiscal period.

2002, c. 9, s. 139; 2009, c. 15, s. 452.

2006-03-01

1175.25. Where the initial qualification certificate issued by the Minister of Finance in respect of a major investment project is revoked and an amount has been determined, in respect of a partnership, under section 94.0.3.3 of the Act respecting the Ministère du Revenu (chapter M-31), in relation to the major investment project, any person that is a member of the partnership at the end of the partnership’s fiscal period in which the certificate is revoked, shall pay, for the person’s taxation year in which the fiscal period ends, a tax equal to the person’s share of that amount.

For the purposes of the first paragraph, a person’s share of an amount is equal to the proportion of the amount that the person’s share of the partnership’s income or loss for the fiscal period is of the partnership’s income or loss for that fiscal period, on the assumption, if the partnership’s income or loss for the fiscal period is nil, that the partnership’s income for that fiscal period is equal to $1,000,000.

2002, c. 9, s. 139.