46 (1) In this subdivision, “adjusted basic rate” means, in respect of a specified corporation for a taxation year, the product determined by multiplying the corporation’s basic rate of tax for the year by the corporation’s Ontario allocation factor for the year; (“taux de base rajusté”) “completion time” means, in respect of a winding-up of a subsidiary corporation, the end of the subsidiary corporation’s taxation year during which, for the purposes of paragraph 88 (1) (e.2) of the Federal Act, its assets were distributed to its parent corporation on the winding-up; (“date de réalisation”) “eligible amalgamation” means, in respect of a particular corporation, an amalgamation or merger of the particular corporation and one or more other corporations to form a new corporation where, (a) the amalgamation or merger occurs after December 31, 2008 and does not occur at the new corporation’s transition time, (b) the new corporation has a permanent establishment in Ontario immediately after the amalgamation or merger, (c) the particular corporation has a permanent establishment in Ontario immediately before the amalgamation or merger, (d) the particular corporation was a specified corporation at its transition time or, by operation of subsection 51 (1), was a specified corporation at any time before the amalgamation or merger, (e) the amalgamation or merger occurs in the amortization period of the new corporation, (f) the amalgamation or merger would occur before the end of the amortization period of the particular corporation if, (i) subclause (2) (b) (ii) were read without reference to the words “for any reason other than an eligible amalgamation or eligible post-2008 winding-up of the corporation”, and (ii) the new corporation were considered to be the same corporation as and a continuation of the particular corporation, and (g) the amortization period of the new corporation does not end immediately after the beginning of its reference period; (“fusion admissible”) “eligible post-2008 winding-up” means, in respect of a subsidiary corporation, a winding-up of the subsidiary corporation in the course of which assets are distributed to the subsidiary corporation’s parent corporation where, (a) the completion time of the winding-up is after December 31, 2008, (b) for the purposes of paragraph 88 (1) (e.2) of the Federal Act, the parent corporation’s taxation year during which it received the assets of the subsidiary corporation on the winding-up ended after December 31, 2008, (c) the subsidiary corporation has a permanent establishment in Ontario during its taxation year ending at the completion time, (d) the parent corporation has a permanent establishment in Ontario during the taxation year in which, for the purposes of paragraph 88 (1) (e.2) of the Federal Act, it received the assets of the subsidiary corporation on the winding-up, and (e) the time immediately after the completion time is in the amortization period of the subsidiary corporation and is in the amortization period of the parent corporation; (“liquidation postérieure à 2008 admissible”) “eligible pre-2009 winding-up” means, in respect of a subsidiary corporation, a winding-up of the subsidiary corporation where, (a) the completion time of the winding-up is after December 31, 2008 and, for the purposes of paragraph 88 (1) (e.2) of the Federal Act, the parent corporation’s taxation year during which it received the assets of the subsidiary corporation on the winding-up ended before January 1, 2009, or (b) the completion time is before January 1, 2009 and, for the purposes of paragraph 88 (1) (e.2) of the Federal Act, the parent corporation’s taxation year during which it received the assets of the subsidiary corporation on the winding-up ended after December 31, 2008; (“liquidation antérieure à 2009 admissible”) “federal SR & ED transitional balance” means, in respect of a corporation, its federal SR & ED transitional balance as determined under section 49; (“solde transitoire au titre de la recherche et du développement selon les règles fédérales”) “new corporation” means a corporation formed as a result of an amalgamation or merger of two or more corporations; (“nouvelle société”) “reference period” means, in respect of a corporation, the period, (a) that begins at the beginning of the corporation’s first taxation year ending after December 31, 2008, and (b) that ends at the earlier of, (i) the time that is five calendar years after the time immediately before the corporation’s first taxation year ending after December 31, 2008, and (ii) the end of 2013; (“période de référence”) “total federal balance” means, in respect of a corporation, its total federal balance as determined under section 48; (“solde fédéral total”) “total Ontario balance” means, in respect of a corporation, its total Ontario balance as determined under section 48; (“solde ontarien total”) “transition time” means, in respect of a corporation, (a) the beginning of the corporation’s first taxation year that begins after 2008 if the previous taxation year is deemed under subsection 249 (3) of the Federal Act to end on the last day of 2008, or (b) the beginning of the corporation’s taxation year that includes the beginning of 2009 in any other case; (“date de transition”) “unused credit balance” means, in respect of a corporation, the amount in respect of the corporation determined under subsection 50 (4). (“solde créditeur inutilisé”)  2007, c. 11, Sched. A, s. 46 (1); 2008, c. 7, Sched. S, s. 9 (1, 2). Amortization period (2) A corporation’s amortization period for the purposes of this subdivision is the period that begins at the beginning of the corporation’s reference period and that ends at the later of, (a) the time immediately after the beginning of the corporation’s reference period; and (b) the earliest of, (i) the end of the corporation’s reference period, (ii) the time immediately before the first time in the corporation’s reference period when the corporation ceases to have a permanent establishment in Ontario for any reason other than an eligible amalgamation or eligible post-2008 winding-up of the corporation, (iii) the time immediately before the first time in the corporation’s reference period when the corporation becomes exempt from tax under Part I of the Federal Act, (iv) the time immediately before the first time in the corporation’s reference period when the corporation is a party to a transaction or event if it may reasonably be considered, without reference to this subclause, that one of the main purposes of the transaction or event, or a series of transactions or events of which that transaction or event is a part, was to reduce or avoid the inclusion of an amount to be added under this subdivision in computing the corporation’s tax payable under this Division or to increase an amount determined for the corporation under subsection 50 (1), (v) the time immediately after the beginning of the corporation’s reference period if, (A) the corporation or another corporation that is a designated corporation with respect to it was a party to a transaction or event at any time before the beginning of the corporation’s reference period, and (B) it may reasonably be considered, without reference to this subclause, that one of the main purposes of the transaction or event, or a series of transactions or events of which that transaction or event was a part, was to reduce or avoid the inclusion of an amount to be added under this subdivision in computing the corporation’s tax payable under this Division or to increase an amount determined for the corporation under subsection 50 (1), and (vi) the end of the taxation year for which the corporation makes an election under subsection 47 (2), if the corporation makes an election under that subsection.  2007, c. 11, Sched. A, s. 46 (2); 2008, c. 7, Sched. S, s. 9 (3). Early termination of amortization period (3) Despite subsection (2), a specified corporation’s amortization period that would, but for this subsection, end after the end of a taxation year shall be deemed to end at the end of that taxation year if, (a) the Ontario Minister assesses or reassesses the corporation for the year on the basis that the corporation’s amortization period ends at the end of that year; (b) the corporation does not object to this treatment within 90 days of its last assessment of tax payable under this Division for the year; and (c) the amount that would be determined under clause (b) of the definition of “B” in subsection 50 (2) in respect of the corporation for the year would be a positive amount of not more than $1,000 if “F” and “G”, as defined in subsection 50 (2), were each equal to one.  2007, c. 11, Sched. A, s. 46 (3). Determining the number of days (4) For the purposes of this subdivision, February 29, 2008 and February 29, 2012 shall not be counted in determining the number of days in a period that would otherwise include either or both of those days.  2007, c. 11, Sched. A, s. 46 (4). Specified corporation (5) A corporation is a specified corporation for the purposes of this subdivision if the following conditions are satisfied: 1. The corporation is not exempt at or immediately before its transition time from tax payable under Part I of the Federal Act. 2. Unless a taxation year of the corporation is deemed under subsection 249 (3) of the Federal Act to end on the last day of 2008, the corporation has a taxation year that ends before 2009 and a taxation year that includes the beginning of 2009. 2.1 If a taxation year of the corporation is deemed under subsection 249 (3) of the Federal Act to end on the last day of 2008, the corporation has a taxation year that begins after December 31, 2008. 3. The corporation has a permanent establishment in Ontario at its transition time. 4. The corporation had a permanent establishment in Ontario at any time in its last taxation year ending before 2009 and was subject to tax under Part II of the Corporations Tax Act for that year. 5. If assets of the corporation have been distributed in the course of a winding-up, the winding-up is not an eligible pre-2009 winding-up.  2007, c. 11, Sched. A, s. 46 (5); 2008, c. 7, Sched. S, s. 9 (4). Section Amendments with date in force (d/m/y) 2008, c. 7, Sched. S, s. 9 (1-4) - 01/01/2008 Transitional tax debits and credits