Relief for Corporate Partnerships Regulation

Relief for Corporate Partnerships Regulation, M.R. 212/93 The Health and Post Secondary Education Tax Levy Act , C.C.S.M. c. H24 Regulation 212/93 Registered December 13, 1993 bilingual version (HTML) Relief for corporate partnerships 1(1) For the purposes of subsection 2(8) of the Act, subsections 2(4) and (4.1) of the Act are not applicable in respect of a partnership where (a) the partnership is at any time deemed by subsection 2(4) or (4.1) of the Act to be part of a single employer; and (b) the partnership, if it were deemed to be a corporation in accordance with subsection (2), would not be associated with any corporation that is part of that single employer; and, in these circumstances, the partnership shall not be treated as part of the single employer under those provisions. 1(2) For the purpose of applying subsection (1), a partnership shall be deemed to be a corporation on the basis that (a) it is a corporation resident in Canada having a capital stock of a single class divided into 100 issued and outstanding voting common shares; and (b) each partner in the partnership owns the number of issued shares that, expressed as a percentage, is equal to the partner's percentage entitlement to share in the profits of the partnership. Repeal 2 The Associated Corporations Rules Criteria for Waiver Regulation , Manitoba Regulation 206/92, is repealed.