Federal-Provincial Fiscal Arrangements Regulations, 2007 — 30
30 (1) When determining the revenue to be equalized from a revenue source for a fiscal year for the purpose of making a calculation referred to in section 29, the Minister may, if information that is necessary for that determination is incorrect, missing from the certificate or, in the case of information that is not required to be set out in the certificate, unavailable from the information source identified in these Regulations, estimate the revenue to be equalized on the basis of any information that is available to the Minister at the time of the calculation. (2) When determining a revenue base for the purpose of making a calculation referred to in section 29, the Minister may, if information that is necessary for that determination is unavailable or incorrect, estimate the base using the following substitutions: (a) if, when determining a revenue base referred to in paragraph 19(1)(a) for a fiscal year, information from T1 tax returns that are assessed or reassessed by the Canada Revenue Agency during the last three months of the calendar year that ends in the following fiscal year is not available for the purpose of calculating the simulated average revenue yield relating to personal income for the province or territory for the taxation year that ends in the fiscal year, the Minister may use in place of that yield the product of (i) the simulated average revenue yield relating to personal income for the province or territory that is calculated in accordance with the method set out in subsection 21(2) on the basis of the T1 tax returns assessed or reassessed during the first nine months of the calendar year that ends in the following fiscal year, and (ii) the average, over the taxation years that end in the three fiscal years immediately preceding the fiscal year, of a fraction (A) whose numerator is the total federal income tax as determined by the micro-simulation model that is assessed or reassessed for the taxation year for individuals, not including trusts, in the province or territory during the calendar year following that taxation year, and (B) whose denominator is the total federal income tax as determined by the micro-simulation model that is assessed or reassessed for the taxation year for individuals, not including trusts, in the province or territory during the first nine months of the calendar year following that taxation year; (b) if, when determining a revenue base referred to in paragraph 19(1)(b) for a fiscal year, information from corporation tax returns that are assessed or reassessed by the Canada Revenue Agency during the last two or three months of the calendar year that ends in the following fiscal year is not available for the purpose of calculating the allocated corporation taxable income attributable to a province or territory for the fiscal year, the Minister may use in place of (i) the corporations’ taxable income earned in the province or territory for their taxation years ending in the calendar year that ends in the fiscal year in respect of which they are eligible for a deduction under subsection 125(1) of the Income Tax Act , the income in respect of which they are eligible for a deduction as assessed or reassessed by the Canada Revenue Agency during the first nine months of the calendar year that ends in the following fiscal year, (ii) the corporations’ taxable income earned in the province or territory for their taxation years ending in the calendar year that ends in the fiscal year, the income assessed or reassessed by the Canada Revenue Agency during the first 10 months of the calendar year that ends in the following fiscal year, and (iii) the capital gains refunds payable to investment corporations and mutual fund corporations that constitute income earned in the province or territory for their taxation years ending in the calendar year that ends in the fiscal year, those refunds that are assessed or reassessed by the Canada Revenue Agency during the first 10 months of the calendar ye