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ontario regulation 57/06

made under the

Corporations Tax Act

Made: March 1, 2006
Filed: March 6, 2006
Published on e-Laws: March 7, 2006
Printed in The Ontario Gazette: March 25, 2006

Amending Reg. 183 of R.R.O. 1990

(General)

1. Paragraphs 2 and 3 of subsection 906 (4) of Regulation 183 of the Revised Regulations of Ontario, 1990 are revoked and the following substituted:

2. If the product was completed before May 12, 2005,

i. all or substantially all of the product was developed in Ontario by the qualifying corporation or by the qualifying corporation and a qualifying predecessor corporation, and

ii. the product was developed for commercial exploitation by the qualifying corporation or by the qualifying corporation and a qualifying predecessor corporation.

3. If the product was completed after May 11, 2005,

i. all or substantially all of the product was developed in Ontario by the qualifying corporation or by the qualifying corporation and a qualifying predecessor corporation, and

ii. the product was developed for sale or licensing to one or more arm’s length parties who have not previously entered into an arrangement with the qualifying corporation or a qualifying predecessor corporation for the development of the product.