Federal-Provincial Fiscal Arrangements Act — F-8 6
the additional tax abatement units as determined in accordance with subsection 27(2). Non-natural resource revenue (5) For the purposes of determining the non-natural resource revenue of a province for a fiscal year, (a) subsection 3.9(2) applies, with any modifications that the circumstances require, in determining the revenue derived by the province for the fiscal year from personal income taxes, described in paragraph (a) of the definition revenue source in subsection 3.9(1), except that no deduction may be made in respect of the tax abatement units referred to in subsection 27(2); (b) the province’s revenue for the fiscal year derived from personal income taxes, described in paragraph (a) of the definition revenue source in subsection 3.9(1), is deemed to be the total amount, determined in accordance with the regulations, of the provincial personal income taxes that are payable as the result of assessments or reassessments made in the calendar year that begins in the fiscal year; and (c) the province’s revenue for the fiscal year derived from that part of the revenue source described in paragraph (b) of the definition revenue source in subsection 3.9(1) that consists of corporation income taxes is deemed to be the amount, determined in accordance with the regulations, of the provincial corporation income taxes that are payable as the result of assessments or reassessments made in the calendar year that begins in the fiscal year. Exception (6) Despite subsection (4), for the purposes of determining the amount under subsection (1) for a fiscal year, the payment under section 3.12 and the additional cash payment under section 24.703 are not included in the province’s non-natural resource revenue for the preceding fiscal year. Application by province for payment (7) A fiscal stabilization payment may be paid to a province for a fiscal year only on receipt by the Minister, not later than the end of the next fiscal year, of an application by the province containing any information that may be prescribed. Limit (8) Subject to subsection (9), for each fiscal year that begins after March 31, 2019, the maximum amount of the fiscal stabilization payment that may be paid to a province is the amount obtained by multiplying the population of the province for the fiscal year by the amount determined by the formula A × B ÷ C where A is $166; B is the highest per capita nominal gross domestic product of Canada of any calendar year from 2018 to the calendar year that ends during the fiscal year, inclusive; and C is the per capita nominal gross domestic product of Canada for the calendar year 2018. Population (8.1) For the purposes of subsection (8), (a) the population of a province for a fiscal year is its population as of July 1 of that year, based on the most recent information that has been prepared by Statistics Canada in accordance with the regulations; and (b) the per capita nominal gross domestic product of Canada for a calendar year is to be determined by the Minister using the population of Canada as of July 1 of that year, based on the most recent information for the population that has been prepared by Statistics Canada in accordance with the regulations. Loan (9) If the amount of the fiscal stabilization payment of a province calculated pursuant to subsections (1) to (7) exceeds the amount calculated in respect of the province pursuant to subsection (8) any amount of the difference between those amounts may, at the discretion of the Minister, be lent to the province on the prescribed terms and conditions and in prescribed manner. Repayment (10) Any amount lent pursuant to subsection (9) does not bear interest and shall be repaid, in prescribed manner, by the province before the expiration of the period of five years following the date the amount is lent or shall be recovered, in prescribed manner, from any amount that may become payable to the province pursuant to this Act within that period. (11) [Repealed, 2010, c. 25, s. 173]