56.1 (1) Subject to subsections (2) and (3), the following provisions apply for the purposes of this Act in so far as they apply to corporations: 1. Section 143.2 of the Income Tax Act (Canada), except subsection 143.2 (15) of that Act. 2. Subsection 237.1 (1) of the Income Tax Act (Canada).  2005, c. 31, Sched. 5, s. 11. Information located outside Canada (2) If the Minister of National Revenue has initiated a federal assessment action for a taxation year of a corporation and applies subsection 143.2 (13) of the Income Tax Act
(Canada), the amount deemed to be a limited-recourse amount in relation to an expenditure under subsection 143.2 (13) of that Act is deemed to be the limited-recourse amount relating to the expenditure under this Act.  2005, c. 31, Sched. 5, s. 11. Information located outside Canada (3) If the Minister of National Revenue has initiated a federal assessment action for a taxation year of a corporation and applies subsection 143.2 (14) of the Income Tax Act
(Canada), the corporation and such other taxpayers as the Minister of National Revenue determines are not dealing at arm’s length for the purposes of section 143.2 of that Act are deemed not to be dealing with each other at arm’s length for the purposes of this section.  2005, c. 31, Sched. 5, s. 11. Deductions and claims disallowed (4) No amount may be deducted or claimed by a corporation for the purposes of this Act in respect of a tax shelter unless the corporation has filed with the Minister of National Revenue the form and information required under section 237.1 of the Income Tax Act
(Canada).  2005, c. 31, Sched. 5, s. 11. Deductions and claims disallowed (5) No amount may be deducted or claimed by a corporation for the purposes of this Act for any taxation year in respect of a tax shelter of the corporation if any person is liable to a penalty under subsection 237.1 (7.4) of the Income Tax Act (Canada) in respect of the tax shelter or interest on the penalty and, (a) the penalty or interest has not been paid; or (b) the penalty and interest have been paid, but an amount on account of the penalty or interest has been repaid under subsection 164 (1.1) of the Income Tax Act (Canada) or applied under subsection 164 (2) of that Act.  2005, c. 31, Sched. 5, s. 11; 2006, c. 33, Sched. G, s. 5. Application (6) Subject to subsection (7), subsections (1) to (5) apply to property acquired and to outlays and expenses made or incurred by a corporation after November 30, 1994, other than property acquired and outlays or expenses made or incurred by the corporation in a taxation year ending on or before the day the Budget Measures Act, 2005 (No. 2) received first reading if, before that day, the corporation filed its return for the year or a notice of objection for the year in a manner which reflects the position that sections 143.2 and 237.1 of the Income Tax Act (Canada) do not apply for the purposes of this Act.  2005, c. 31, Sched. 5, s. 11. Same (7) Any provision of section 143.2 of the Income Tax Act (Canada), as it applies for the purposes of this Act, does not apply to the extent that the application of that provision for the purposes of the Income Tax Act
(Canada) is limited because of the application of subsection 168 (2) of the Income Tax Amendments Act, 1997 (Canada).  2005, c. 31, Sched. 5, s. 11. Section Amendments with date in force (d/m/y) 2005, c. 31, Sched. 5, s. 11 - 15/12/2005 2006, c. 33, Sched. G, s. 5 - 20/12/2006 Division G — Exemptions