45 (1) In this section, “eligible property” means, (a) in respect of a corporation, property, (i) the cost of which was incurred by the corporation in a taxation year ending after December 31, 2008, and (ii) all or part of the cost of which is an eligible expenditure of the corporation, or (b) in respect of a partnership, property, (i) the cost of which was incurred by the partnership in a fiscal period ending in a taxation year of a corporate member of the partnership that ends after December 31, 2008, and (ii) all or part of the cost of which would be an eligible expenditure of the partnership if the partnership were a corporation.  2007, c. 11, Sched. A, s. 45 (1). Amount of recapture (2) Subject to the regulations, there shall be added in computing a corporation’s tax payable under this Division for a taxation year 23.56 per cent of the sum of all amounts each of which is an amount that would be added under subsection 127 (27), (29) or (34) of the Federal Act in computing the corporation’s tax payable under Part I of the Federal Act for the year in respect of an eligible property of the corporation if the definition of “investment tax credit” in subsection 127 (9) of the Federal Act were read without reference to paragraph (e) of that definition.  2007, c. 11, Sched. A, s. 45 (2); 2016, c. 5, Sched. 28, s. 16 (1). Same, tax credit earned through partnership (3) Subject to the regulations, there shall be deducted in computing the amount determined under subsection 40 (1) in respect of a partnership at the end of a particular fiscal period 23.56 per cent of the sum of all amounts each of which would be deducted pursuant to subsection 127 (28) or (35) of the Federal Act in computing an amount under subsection 127 (8) of the Federal Act in respect of an eligible property of the partnership at the end of the particular fiscal period, if, (a) the definition of “investment tax credit” in subsection 127 (9) of the Federal Act were read without reference to paragraph (e) of that definition; and (b) the amount that would be determined under subsection 127 (8) of the Federal Act, without reference to subsections 127 (28) and (35) of the Federal Act, were a sufficiently high amount.  2007, c. 11, Sched. A, s. 45 (3); 2016, c. 5, Sched. 28, s. 16 (2). Regulations (3.1) The Minister of Finance may make regulations, (a) providing for a different method for determining the amounts under subsection (2) than would otherwise be determined under that subsection; (b) providing for a different method for determining the amounts to be deducted under subsection (3) than would otherwise be determined under that subsection. 2016, c. 5, Sched. 28, s. 16 (3). Same (3.2) A regulation made under subsection (3.1) may provide for different methods of determining the amounts under subsection (2) or (3) that apply to different periods. 2016, c. 5, Sched. 28, s. 16 (3). Same (4) If a corporation is a member of a partnership and the sum of all amounts each of which is determined in respect of an eligible property of the partnership for a fiscal period under subsection (3) exceeds the amount that would be determined in respect of the partnership under subsection 40 (1) for the fiscal period if subsection (3) did not apply, the portion of the excess that can reasonably be considered to be the corporation’s share of the excess shall be added in computing the corporation’s tax payable under this Division for the corporation’s taxation year in which the fiscal period ends.  2007, c. 11, Sched. A, s. 45 (4). Tiered partnership (5) If a corporation is a member of a particular partnership that is a member of another partnership and an amount would be added to the particular partnership’s tax payable under this Division for the year pursuant to subsection (4) if the particular partnership were a corporation and its fiscal period were its taxation year, that amount is deemed to be an amount that is required by subsection (3) to be deducted in computing the amount under subsection 40 (1) in respect of the particular partnership at the end of the fiscal period.  2007, c. 11, Sched. A, s. 45 (5). Section Amendments with date in force (d/m/y) 2016, c. 5, Sched. 28, s. 16 (1-3) - 19/04/2016 Subdivision d — Transitional Tax Debits and Credits