Hyperlawhypertext legal database Excise Tax Act

← Historical versions

Versions of s. 261.01(5)

E-15 — Excise Tax Act · 3 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2017-12-14 to present available View Source
    If a pension entity of a pension plan is a qualifying pension entity on the last day of a claim period of the pension entity, the pension entity makes an election for the claim period jointly with all persons that are, for the calendar year that includes the last day of the claim period, qualifying employers of the pension plan and each of those qualifying employers is engaged exclusively in commercial activities throughout the claim period, each of those qualifying employers may deduct in determining its net tax for the reporting period that includes the day on which the election is filed with the Minister an amount determined by the formula(A + B) × C where A is the pension rebate amount of the pension entity for the claim period; B is the provincial pension rebate amount of the pension entity for the claim period; and C is the percentage specified for the qualifying employer in the election.
    Full text

    If a pension entity of a pension plan is a qualifying pension entity on the last day of a claim period of the pension entity, the pension entity makes an election for the claim period jointly with all persons that are, for the calendar year that includes the last day of the claim period, qualifying employers of the pension plan and each of those qualifying employers is engaged exclusively in commercial activities throughout the claim period, each of those qualifying employers may deduct in determining its net tax for the reporting period that includes the day on which the election is filed with the Minister an amount determined by the formula(A + B) × C where A is the pension rebate amount of the pension entity for the claim period; B is the provincial pension rebate amount of the pension entity for the claim period; and C is the percentage specified for the qualifying employer in the election.

  2. 2010-07-12 to 2017-12-14 View Source
    AIf trusta shallpension notentity makeof morea thanpension oneplan applicationis fora rebatesqualifying underpension thisentity sectionon inthe anylast day of a claim period of the trust.pension entity, the pension entity makes an election for the claim period jointly with all persons that are, for the calendar year that includes the last day of the claim period, qualifying employers of the pension plan and each of those qualifying employers is engaged exclusively in commercial activities throughout the claim period, each of those qualifying employers may deduct in determining its net tax for the reporting period that includes the day on which the election is filed with the Minister an amount determined by the formula(A + B) × C where A is the pension rebate amount of the pension entity for the claim period; B is the provincial pension rebate amount of the pension entity for the claim period; and C is the percentage specified for the qualifying employer in the election.
    Full text

    If a pension entity of a pension plan is a qualifying pension entity on the last day of a claim period of the pension entity, the pension entity makes an election for the claim period jointly with all persons that are, for the calendar year that includes the last day of the claim period, qualifying employers of the pension plan and each of those qualifying employers is engaged exclusively in commercial activities throughout the claim period, each of those qualifying employers may deduct in determining its net tax for the reporting period that includes the day on which the election is filed with the Minister an amount determined by the formula(A + B) × C where A is the pension rebate amount of the pension entity for the claim period; B is the provincial pension rebate amount of the pension entity for the claim period; and C is the percentage specified for the qualifying employer in the election.

  3. 2003-01-01 to 2010-07-12 View Source

    A trust shall not make more than one application for rebates under this section in any claim period of the trust.