40 (1) Subject to subsections 38 (3) and 45 (3), if a corporation is a member of a partnership, other than a specified member, in a particular taxation year and an amount is determined in respect of the partnership for its fiscal period that ends in the particular year under clause (a), (a.1), (a.2) or (d) of the definition of “A” in subsection 38 (2), the portion of that amount that can reasonably be considered to be the corporation’s share shall be added in computing the amount of the corporation’s Ontario research and development tax credit at the end of the particular year.  2007, c. 11, Sched. A, s. 40 (1); 2016, c. 5, Sched. 28, s. 15 (1). Rules re partnerships (2) The following rules apply in respect of partnerships for the purposes of this subdivision: 1. In determining an amount in respect of a partnership under clause (a), (a.1), (a.2) or (d) of the definition of “A” in subsection 38 (2) for a fiscal period, i. subsection 38 (3) and sections 42, 43 and 44 do not apply, and ii. the partnership is deemed to be a corporation and the fiscal period is deemed to be a taxation year. 2. Section 41 applies as if, i. a partnership were a corporation and each fiscal period were a taxation year, and ii. a partnership’s filing-due date for a taxation year is the day that would be its filing-due date for the taxation year if it were a corporation. 3. If a fiscal period of a partnership ends in 2008, the fiscal period is deemed to end after December 31, 2008 for the purposes of determining the Ontario SR & ED expenditure pool of a corporation that is a member of the partnership.  2007, c. 11, Sched. A, s. 40 (2); 2016, c. 5, Sched. 28, s. 15 (2). Specified amount (3) For the purposes of this section, a partnership’s specified amount for a fiscal period is the amount, if any, by which the sum of the amounts determined under clauses (a), (a.1), (a.2) and (d) of the definition of “A” in subsection 38 (2) in respect of the partnership for the fiscal period exceeds the amount deducted under subsection 45 (3) in respect of the partnership for the fiscal period in computing the amount determined under subsection (1) in respect of the partnership.  2007, c. 11, Sched. A, s. 40 (3); 2016, c. 5, Sched. 28, s. 15 (3). Allocation to corporate partners of unallocated amounts (4) For the purposes of subsection (1), if a corporation is a member of a partnership, other than a specified member, throughout a fiscal period of the partnership, there shall be added to the amount, if any, that can reasonably be considered to be the corporation’s share of the partnership’s specified amount for the fiscal period the amount, if any, that is such portion of the amount determined under subsection (5) in respect of that fiscal period as is reasonable in the circumstances having regard to the investment in the partnership, including debt obligations of the partnership, of each of the members of the partnership, (a) who was a member of the partnership throughout the fiscal period; and (b) who was not a specified member of the partnership during that fiscal period.  2007, c. 11, Sched. A, s. 40 (4). Amount of unallocated partnership tax credits (5) For the purposes of subsection (4), the amount determined under this subsection in respect of a fiscal period of a partnership is the amount by which the partnership’s specified amount for the fiscal period exceeds the sum of, (a) the sum of all amounts each of which is an amount determined under subsection (1) to be a partner’s share of the partnership’s specified amount for the fiscal period; and (b) the portion of the partnership’s specified amount for the fiscal period that is attributable to, (i) the interests in the partnership of individuals who are not specified members of the partnership, (ii) the interest of another partnership in the partnership, and (iii) if the fiscal period ends in 2008, the interest in the partnership of each person having a taxation year ending in 2008 in which the fiscal period ends.  2007, c. 11, Sched. A, s. 40 (5). Section Amendments with date in force (d/m/y) 2016, c. 5, Sched. 28, s. 15 (1-3) - 19/04/2016