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Alternative Payments for Standing Programs

  •  (1) Payments authorized under section 28 of the Act, as that section read on March 31, 1996, in respect of the established programs, shall be made at the times and in the manner provided for in section 6.

  • (2) Payments authorized under section 28 of the Act, as that section read on March 31, 1996, to be made to a province in respect of a special welfare program shall be made as follows:

    • (a) in each fiscal year, the Minister shall estimate the amount, if any, that is payable in respect of that year and shall pay that amount, if any, to the province on account thereof in monthly instalments commencing on April 30 of that year; and

    • (b) where, during a fiscal year in respect of which a payment is being made pursuant to paragraph (a) to the province, it is determined by the Minister, as a result of having received more accurate information for estimating the amount payable, that the estimated amount referred to in that paragraph should be revised, the Minister shall make a new estimate of the amount in accordance with that information and the remaining monthly instalments payable in respect of that year shall be adjusted in accordance with the new estimate.

  • (3) Where, after the end of each fiscal year, the Minister is satisfied that all the relevant information for determining the actual amount payable to a province in respect of a special welfare program has been received, the Minister shall make a final determination of the aggregate amount

    • (a) that is payable to the province in respect of that year under subsection 28(2) of the Act, as that section read on March 31, 1996, or

    • (b) that may be recovered from the province in accordance with subsection 28(4) of the Act, as that section read on March 31, 1996,

    and the Minister shall furnish the province with a statement outlining the method used in making the determination and the results of each computation made in respect of the determination.

  • SOR/90-210, ss. 4, 6(F)
  • SOR/96-460, s. 3

Transfer Payments with Respect to Preferred Share Dividend Taxes Under Parts IV.1 and VI.1 of the Income Tax Act

  •  (1) Subject to subsection (2), for each fiscal year that begins after March 31, 1987, the Minister of National Revenue shall, within four months after the end of the calendar year in which that fiscal year ends, furnish the Minister with a statement of

    • (a) the total taxable income of each corporation having taxes payable under Parts IV.1 and VI.1 of the Income Tax Act for the taxation year of the corporation ending in the fiscal year, and the taxable income of each such corporation earned in each province in that taxation year determined in accordance with the provisions of regulations made under the Income Tax Act;

    • (b) the taxes payable under Parts IV.1 and VI.1 of the Income Tax Act by each such corporation for the taxation year of the corporation ending in the fiscal year; and

    • (c) the amount that may be paid to each province for the fiscal year in respect of such taxes pursuant to section 12.1 of the Act.

  • (2) The Minister of National Revenue may, with respect to the fiscal year beginning on April 1, 1987, furnish the Minister with the statement required under subsection (1) at the same time as the Minister of National Revenue furnishes the Minister with the statement for the fiscal year beginning on April 1, 1988.

  • (3) Where taxes payable under Parts IV.1 and VI.1 of the Income Tax Act by a corporation for a taxation year ending in a fiscal year are assessed or reassessed by the Minister of National Revenue after the statement referred to in subsection (1) for that fiscal year has been furnished to the Minister, the Minister of National Revenue may include the information required under paragraphs (1)(a), (b) and (c) in respect of such taxes in a statement furnished pursuant to subsection (1) for a subsequent fiscal year.

  • SOR/90-210, s. 5

 For the purposes of section 12.1 of the Act, the Minister shall pay to each province the amount determined thereunder for a fiscal year within 30 days after receiving the statement referred to in subsection 8(1) for that fiscal year, and shall furnish the province with a statement setting out how the amount was determined.

  • SOR/90-210, s. 5

 Where, as a result of additional information received from the Minister of National Revenue, the Minister determines that an overpayment or an underpayment has been made under section 12.1 of the Act to a province in respect of a fiscal year, the Minister shall

  • (a) in the case of an overpayment, recover from the province, as a debt due to Her Majesty in right of Canada, an amount equal to the overpayment from any moneys that become payable to the province under the Act or any other Act of Parliament for that or any other fiscal year; and

  • (b) in the case of an underpayment, pay to the province an amount equal to the balance owing.

  • SOR/90-210, s. 5

Ceasing of Effect

 Sections 5 to 7 cease to have effect on April 1, 1999.

  • SOR/96-460, s. 4
 
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