Versions of s. 127.421(2)

I-3.3 — Income Tax Act · 2 versions · View current text

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

2026-03-26 to present available View Source

A corporation that files, on or before ~~July~~December ~~15,~~31, 2024, a return of income for a particular taxation year ending in 2023 (other than a final return on dissolution) is deemed to have paid on a date specified by the Minister of Finance, on account of tax payable under this Part for that taxation year, the total of all amounts, each of which is an amount, for each designated province, for each calendar year that is 2019, 2020, 2021, 2022 and 2023, determined by the formula A × B × C where A is the fuel return specified for the designated province, for the calendar year; B is if the total number of persons each of whom was a person employed by the corporation in a province at any time in the calendar year exceeds 499, nil, and in any other case, the total number of persons, each of whom was a person employed by the corporation in the designated province in the calendar year; and C is if the corporation was a Canadian-controlled private corporation at all times in the taxation year ending in 2023, 1, and in any other case, nil.

Full text

A corporation that files, on or before December 31, 2024, a return of income for a particular taxation year ending in 2023 (other than a final return on dissolution) is deemed to have paid on a date specified by the Minister of Finance, on account of tax payable under this Part for that taxation year, the total of all amounts, each of which is an amount, for each designated province, for each calendar year that is 2019, 2020, 2021, 2022 and 2023, determined by the formula A × B × C where A is the fuel return specified for the designated province, for the calendar year; B is if the total number of persons each of whom was a person employed by the corporation in a province at any time in the calendar year exceeds 499, nil, and in any other case, the total number of persons, each of whom was a person employed by the corporation in the designated province in the calendar year; and C is if the corporation was a Canadian-controlled private corporation at all times in the taxation year ending in 2023, 1, and in any other case, nil.
2024-06-20 to 2026-03-26 View Source

A corporation that files, on or before July 15, 2024, a return of income for a taxation year ending in 2023 (other than a final return on dissolution) is deemed to have paid on a date specified by the Minister of Finance, on account of tax payable under this Part for that taxation year, the total of all amounts, each of which is an amount, for each designated province, for each calendar year that is 2019, 2020, 2021, 2022 and 2023, determined by the formula A × B × C where A is the fuel return specified for the designated province, for the calendar year; B is if the total number of persons each of whom was a person employed by the corporation in a province at any time in the calendar year exceeds 499, nil, and in any other case, the total number of persons, each of whom was a person employed by the corporation in the designated province in the calendar year; and C is if the corporation was a Canadian-controlled private corporation at all times in the taxation year ending in 2023, 1, and in any other case, nil.