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I-3 - Taxation Act

Section 503.0.0.2
Disposition versions

Full text
503.0.0.2. The penalty referred to in paragraph b of section 503.0.0.1 is equal to the lesser of
(a)  1% per year of the amount of the dividend referred to in section 502 for each month or part of a month during the period that begins on the day on which the time provided for in section 502 for making the election expires and that ends on the day on which the election to which section 503.0.0.1 applies is filed with the Minister; and
(b)  an amount equal to the product obtained by multiplying $500 by the proportion that the number of months included, in whole or in part, in the period described in paragraph a is of 12.
2006, c. 13, s. 40.
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