104.6 (1) If a certificate of eligibility is issued to a corporation for a taxation year, the corporation may apply to the Minister of Revenue for a refund under this Part by submitting to the Minister of Revenue on or before the end of the third taxation year ending after the year, (a) an application in a form approved by the Minister of Revenue; (b) the certificate of eligibility issued to the corporation by the Minister of Research and Innovation for the taxation year; (c) proof to the satisfaction of the Minister of Revenue that all tax payable by the corporation for the year under Divisions B and C of Part III has been paid; and (d) such other information and records as the Minister of Revenue may specify to enable the Minister of Revenue to determine if the corporation is a qualifying corporation for the year.  2008, c. 24, s. 5. Application after assessment or reassessment (2) Despite subsection (1), if the Federal Minister assesses or reassesses a corporation, the corporation may apply to the Minister of Revenue for a refund under this Part by submitting to the Minister of Revenue the certificate, information and records required under subsection (1) within three months of the assessment or reassessment.  2008, c. 24, s. 5. Notice and payment of refund (3) If, after reviewing the application and all other relevant information and records, the Minister of Revenue is of the opinion that the corporation is a qualifying corporation for the year, has paid all tax payable for the year under Divisions B and C of Part III and is entitled to a refund under this Part for the year, the Minister of Revenue shall, (a) notify the corporation in writing of the amount of the refund to which the corporation is entitled for the year; and (b) pay to the corporation the amount of the refund, without interest.  2008, c. 24, s. 5. If no refund payable (4) If, after reviewing the application and all other relevant information and records, the Minister of Revenue is of the opinion that the corporation is not entitled to a refund under this Part for the year, the Minister of Revenue shall send a notice of determination to the corporation setting out his or her determination that the corporation is not entitled to the refund and the reasons for the determination.  2008, c. 24, s. 5. Amount of the refund (5) The Minister of Revenue, (a) shall initially calculate the amount of any refund payable under this Part to a qualifying corporation for a taxation year by reference to the most recent assessment of tax payable by the corporation for the year under Divisions B and C of Part III; (b) shall not pay a refund under this Part until the Minister of Revenue is satisfied that all tax payable by the corporation for the year under Divisions B and C of Part III have been paid; and (c) shall subsequently make such adjustments to the amount of the refund as may be necessary to reflect any subsequent changes in the amount of tax payable and paid by the corporation for the year under Divisions B and C of Part III.  2008, c. 24, s. 5. Revised notice of determination (6) If the Minister of Revenue makes an adjustment to the amount of a refund paid under this Part for a taxation year or subsequently determines that the corporation was not entitled to a refund previously paid for the year, the Minister shall send to the corporation a revised notice of determination setting out the amount of the refund, if any, to which the corporation is entitled for the year and shall, (a) pay to the corporation any additional refund to which the corporation is entitled under this Part for the year; or (b) demand from the corporation repayment of the refund or the excess amount of the refund to which the corporation is not entitled for the year.  2008, c. 24, s. 5. Tax avoidance (7) Despite any other provision in this Part, the Minister of Revenue may refuse to pay a refund to a corporation under this Part or may demand repayment of a refund previously paid under this Part if the Minister of Revenue has a reasonable belief, (a) that one of the principal purposes of a disposition, deemed disposition or series of dispositions of shares of any corporation was to enable the corporation to obtain a refund under this Part to which it would not otherwise be entitled; or (b) that as a result of a transaction or an event, or a series of transactions or events, property of a business has been transferred, or has been deemed to be transferred, either directly or indirectly, to the corporation or to another corporation, and one of the principal purposes of the transfer or deemed transfer is to enable the corporation to obtain a refund under this Part to which it would not otherwise be entitled.  2008, c. 24, s. 5. Section Amendments with date in force (d/m/y) 2008, c. 24, s. 5
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