8.4.1 (1) The amount of an eligible individual’s educational technology tax credit for a taxation year ending after May 2, 2000 and before January 1, 2005 under subsection 8 (15.4) is the amount determined under subsection (2) in respect of eligible equipment that is donated or sold or eligible learning technology that is donated, sold or licensed to an eligible educational institution by the eligible individual after May 2, 2000 and during  the taxation year.  2000, c. 42, s. 56; 2004, c. 16, s. 3; 2004, c. 31, Sched. 19, s. 9. Amount of credit (2) The amount of an eligible individual’s educational technology tax credit for a taxation year is the total of all amounts each of which is calculated, in respect of eligible equipment that is donated or sold or eligible learning technology that is donated, sold or licensed to an eligible educational institution in the taxation year, using the formula, (A – B) × 0.05 in which, “A” is the individual’s notional price for the equipment or technology, and “B” is the fair market value of the consideration, if any, paid or payable by the institution for the equipment or technology. 2000, c. 42, s. 56; 2004, c. 16, s. 3. Partnerships (3) An eligible individual who is a member of an eligible partnership at the end of a taxation year may claim a tax credit equal to the amount described in paragraph 3 in the circumstances described in paragraphs 1 and 2: 1. In a fiscal period of the partnership that ends in the taxation year, the partnership donates or sells eligible equipment or donates, sells or licensed eligible learning technology to an eligible educational institution. 2. If the donation or sale had been made or the licence had been given by an eligible individual, the individual would be entitled to claim a tax credit under this section. 3. The amount of the tax credit the individual may claim is the amount that may reasonably be considered to be the individual’s share of the amount that the partnership would be entitled to deduct in respect of the donation, sale or licence if the partnership were a corporation.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Limited partner (4) Despite subsection (3), no amount may be claimed under this section by an eligible individual in respect of a donation or sale of eligible equipment or a donation, sale or licence of eligible learning technology by a partnership in which the individual is a limited partner.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Certificate (5) An eligible educational institution shall issue a certificate to the eligible individual or partnership that donates or sells eligible equipment or that donates, sells or licenses eligible learning technology to it, stating that the equipment or technology is eligible equipment or eligible learning technology for the purposes of this section.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Same (6) The certificate must be issued in a form and be given to the individual or partnership in a manner approved by the Provincial Minister.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Status of certificate (7) Unless otherwise directed by the Provincial Minister, the certificate forms part of the records and books of account required to be kept under subsection 230 (1) of the Federal Act by the eligible individual making the donation or sale or giving the licence.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Provincial Minister’s direction and order (8) If an eligible educational institution issues one or more incorrect certificates, (a) the Provincial Minister may direct the educational institution to cease issuing certificates under this section; and (b) the Provincial Minister may order that all or some of any equipment donated or sold to the institution or all or some of any technology donated, sold or licensed to the institution is not eligible equipment or eligible learning technology for the purposes of this section.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Revocation (9) The Provincial Minister may revoke a direction or order, or both, made under subsection (8) if he or she is satisfied that the eligible educational institution will comply with the directions with respect to the accuracy, form and content of certificates given under this section.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Conditions (10) The Provincial Minister may impose such conditions on the revocation of the direction and order under subsection (9) as he or she considers reasonable.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Effect of revocation (11) Upon the revocation of a direction and order, the equipment or technology that would have otherwise been eligible equipment or eligible learning technology is, to the extent approved by the Provincial Minister, eligible equipment or eligible learning technology for the purposes of this section and may be certified as such by the educational institution.  2000, c. 42, s. 56; 2004, c. 16, s. 3. Definitions (12) In this section, “eligible educational institution” means an educational institution that is an eligible educational institution for the purposes of section 13.5 of the Corporations Tax Act; (“établissement d’enseignement autorisé”) “eligible equipment” means equipment that is eligible equipment for the purposes of section 13.5 of the Corporations Tax Act; (“matériel admissible”) “eligible individual” means, in respect of a taxation year, an individual, (a) who carries on business through a permanent establishment in Ontario in the taxation year, and (b) who is not exempt from tax under section 6; (“particulier admissible”) “eligible learning technology” means technology that is eligible learning technology for the purposes of section 13.5 of the Corporations Tax Act; (“technologie d’apprentissage admissible”) “eligible partnership” means, in respect of a fiscal period, a partnership, (a) that has one or more members, other than limited partners, who are eligible individuals for the taxation year in which the fiscal period ends, and (b) that carries on business through a permanent establishment in Ontario in the fiscal period; (“société de personnes admissible”) “notional price” means, in respect of eligible equipment that is donated or sold or eligible learning technology that is donated, sold or licensed in a taxation year to an eligible educational institution, (a) the lowest amount that the individual would normally have charged in the year on a sale or licensing of the equipment or technology to a person dealing at arm’s length with the individual, within the meaning of section 251 of the Federal Act, if the individual carries on a business of selling eligible equipment or selling or licensing eligible learning technologies in the taxation year, or (b) the cost to the individual of the equipment or technology, in any other case. (“prix théorique”)  2000, c. 42, s. 56; 2004, c. 16, s. 3. Section Amendments with date in force (d/m/y) 2000, c. 42, s. 56
- 1/01/2000 2004, c. 16, s. 3
- 1/01/2004; 2004, c. 31, Sched. 19, s. 9 - 1/01/2005