I-3 - Taxation Act

Section 134.3 Disposition versions

2006-03-01

134.3. Where an amount would, but for section 134.2, be deductible in computing the income of a partnership for a particular taxation year as dues described in subparagraph a or b of the first paragraph of that section or as a contribution described in subparagraph c of that paragraph, the following rules apply:

(a)  where a corporation is a member of the partnership at the end of the particular taxation year, the corporation’s share of the amount shall be deductible in computing the corporation’s income for the taxation year in which the particular taxation year ends;

(b)  where a particular partnership is a member of the partnership at the end of the particular taxation year, the particular partnership’s share of the amount is deemed to be an amount paid by the particular partnership in the particular partnership’s taxation year in which the particular taxation year ends, or an amount payable by the particular partnership in respect of the particular partnership’s taxation year in which the particular taxation year ends, as dues described in subparagraph a or b of the first paragraph of section 134.2 or as a contribution described in subparagraph c of that paragraph, as the case may be;

(c)  where an individual is a member of the partnership at the end of the particular taxation year, the individual’s share of the amount is deemed to be an amount paid by the individual in the individual’s taxation year in which the particular taxation year ends, or an amount payable by the individual in respect of the individual’s taxation year in which the particular taxation year ends, as dues described in subparagraph a or b of the first paragraph of section 134.1 or as a contribution described in subparagraph c of that paragraph, as the case may be.

1997, c. 14, s. 39.