Versions of s. 261.01(9)

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.

2017-12-14 to present available View Source

If a pension entity of a pension plan is a non-qualifying pension entity on the last day of a claim period of the pension entity and 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, 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 the amount determined by the formula(A + B) × C × D 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; C is in the case where employer contributions were made to the pension plan in the calendar year (in this subsection referred to as the “preceding calendar year”) that immediately precedes the calendar year that includes the last day of the claim period, the amount determined by the formula E/F where E is the total of all amounts, each of which is an employer contribution made by the qualifying employer to the pension plan in the preceding calendar year, or an employee PRPP contribution made by an employee of the qualifying employer to the pension plan in the preceding calendar year, if the qualifying employer made employer contributions to the pension plan in the preceding calendar year, and F is the total of all amounts, each of which is if the pension plan is a registered pension plan, an employer contribution made to the pension plan in the preceding calendar year, or if the pension plan is a pooled registered pension plan, an amount contributed to the pension plan in the preceding calendar year, in the case where subparagraph (a) does not apply and one or more qualifying employers of the pension plan was the employer of one or more active members of the pension plan in the preceding calendar year, the amount determined by the formula G/H where G is the total number of employees of the qualifying employer in the preceding calendar year who were active members of the pension plan in that year, and H is the sum of the total number of employees of each of those qualifying employers in the preceding calendar year who were active members of the pension plan in that year, and in any other case, zero; and D is the tax recovery rate of the qualifying employer for the fiscal year of the qualifying employer that ended on or before the last day of the claim period.

Full text

If a pension entity of a pension plan is a non-qualifying pension entity on the last day of a claim period of the pension entity and 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, 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 the amount determined by the formula(A + B) × C × D 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; C is in the case where employer contributions were made to the pension plan in the calendar year (in this subsection referred to as the “preceding calendar year”) that immediately precedes the calendar year that includes the last day of the claim period, the amount determined by the formula E/F where E is the total of all amounts, each of which is an employer contribution made by the qualifying employer to the pension plan in the preceding calendar year, or an employee PRPP contribution made by an employee of the qualifying employer to the pension plan in the preceding calendar year, if the qualifying employer made employer contributions to the pension plan in the preceding calendar year, and F is the total of all amounts, each of which is if the pension plan is a registered pension plan, an employer contribution made to the pension plan in the preceding calendar year, or if the pension plan is a pooled registered pension plan, an amount contributed to the pension plan in the preceding calendar year, in the case where subparagraph (a) does not apply and one or more qualifying employers of the pension plan was the employer of one or more active members of the pension plan in the preceding calendar year, the amount determined by the formula G/H where G is the total number of employees of the qualifying employer in the preceding calendar year who were active members of the pension plan in that year, and H is the sum of the total number of employees of each of those qualifying employers in the preceding calendar year who were active members of the pension plan in that year, and in any other case, zero; and D is the tax recovery rate of the qualifying employer for the fiscal year of the qualifying employer that ended on or before the last day of the claim period.
2014-12-16 to 2017-12-14 View Source

If a pension entity of a pension plan is a non-qualifying pension entity on the last day of a claim period of the pension entity and 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, 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 the amount determined by the formula(A + B) × C × D 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; C is in the case where ~~pension~~employer contributions were made to the pension plan in the calendar year (in this subsection referred to as the “preceding calendar year”) that immediately precedes the calendar year that includes the last day of the claim period, the amount determined by the formula E/F where E is the total of all amounts, each of which is aan ~~pension~~employer contribution made by the qualifying employer to the pension plan in the preceding calendar year, or an employee PRPP contribution made by an employee of the qualifying employer to the pension plan in the preceding calendar year, if the qualifying employer made employer contributions to the pension plan in the preceding calendar year, and F is the total of all amounts, each of which is if the pension plan is a registered pension plan, an employer contribution made to the pension plan in the preceding calendar year, or if the pension plan is a pooled registered pension plan, an amount contributed to the pension plan in the preceding calendar year, in the case where subparagraph (a) does not apply and one or more qualifying employers of the pension plan was the employer of one or more active members of the pension plan in the preceding calendar year, the amount determined by the formula G/H where G is the total number of employees of the qualifying employer in the preceding calendar year who were active members of the pension plan in that year, and H is the sum of the total number of employees of each of those qualifying employers in the preceding calendar year who were active members of the pension plan in that year, and in any other case, zero; and D is the tax recovery rate of the qualifying employer for the fiscal year of the qualifying employer that ended on or before the last day of the claim period.

Full text

If a pension entity of a pension plan is a non-qualifying pension entity on the last day of a claim period of the pension entity and 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, 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 the amount determined by the formula(A + B) × C × D 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; C is in the case where employer contributions were made to the pension plan in the calendar year (in this subsection referred to as the “preceding calendar year”) that immediately precedes the calendar year that includes the last day of the claim period, the amount determined by the formula E/F where E is the total of all amounts, each of which is an employer contribution made by the qualifying employer to the pension plan in the preceding calendar year, or an employee PRPP contribution made by an employee of the qualifying employer to the pension plan in the preceding calendar year, if the qualifying employer made employer contributions to the pension plan in the preceding calendar year, and F is the total of all amounts, each of which is if the pension plan is a registered pension plan, an employer contribution made to the pension plan in the preceding calendar year, or if the pension plan is a pooled registered pension plan, an amount contributed to the pension plan in the preceding calendar year, in the case where subparagraph (a) does not apply and one or more qualifying employers of the pension plan was the employer of one or more active members of the pension plan in the preceding calendar year, the amount determined by the formula G/H where G is the total number of employees of the qualifying employer in the preceding calendar year who were active members of the pension plan in that year, and H is the sum of the total number of employees of each of those qualifying employers in the preceding calendar year who were active members of the pension plan in that year, and in any other case, zero; and D is the tax recovery rate of the qualifying employer for the fiscal year of the qualifying employer that ended on or before the last day of the claim period.
2010-07-12 to 2014-12-16 View Source

If a pension entity of a pension plan is a non-qualifying pension entity on the last day of a claim period of the pension entity and 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, 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 the amount determined by the formula(A + B) × C × D 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; C is in the case where pension contributions were made to the pension plan in the calendar year (in this subsection referred to as the “preceding calendar year”) that immediately precedes the calendar year that includes the last day of the claim period, the amount determined by the formula E/F where E is the total of all amounts, each of which is a pension contribution made by the qualifying employer to the pension plan in the preceding calendar year, and F is the total of all amounts, each of which is a pension contribution made to the pension plan in the preceding calendar year, in the case where subparagraph (a) does not apply and one or more qualifying employers of the pension plan was the employer of one or more active members of the pension plan in the preceding calendar year, the amount determined by the formula G/H where G is the total number of employees of the qualifying employer in the preceding calendar year who were active members of the pension plan in that year, and H is the sum of the total number of employees of each of those qualifying employers in the preceding calendar year who were active members of the pension plan in that year, and in any other case, zero; and D is the tax recovery rate of the qualifying employer for the fiscal year of the qualifying employer that ended on or before the last day of the claim period.