Prepayment of UI premium tax credit	(12) Where before March 1994 an employer or, where the employer is a partnership, any member of the partnership acting on behalf of all of the members of the partnership, files with the Minister a prescribed form containing prescribed information, the Minister shall, subject to subsection (13), be deemed to have paid to the employer on account of the overpayment determined under subsection (6) in respect of the employer, and the employer shall be deemed, for the purpose of paragraph 12(1)(x), to have received and, for the purposes of the Unemployment Insurance Act and regulations made under it, to have remitted to the Receiver General on account of the employer's UI premium, on each remittance date for 1993, an amount that is equal to,
	(a) where the employer was not associated with any other employer on the remittance date, the lesser of
	(i) the amount, if any, by which the lesser of
	(A) the amount, if any, by which $30,000 exceeds the amount, if any, by which the 1992 premium base of the employer exceeds $30,000, and
	(B) the amount, if any, by which
	(I) the 1993 cumulative premium base of the employer on the remittance date
	exceeds
	(II) the 1992 cumulative premium base of the employer on the remittance date
	exceeds the total of all amounts deemed or that would, but for subsection (13), be deemed by this subsection to have been paid to the employer before the remittance date, and
	(ii) the amount determined by the formula
	A - (B + C)
	where
	A is the total of all UI premiums of the employer payable on or before the remittance date that can reasonably be attributed to remuneration paid in the period beginning on January 1, 1993 and ending on the remittance date,
	B is the total of all amounts (determined without reference to this subsection) remitted by the employer to the Receiver General on or before the remittance date on account of the UI premiums referred to in the descrip tion of A, and
	C is the total of all amounts deemed or that would, but for subsection (13), be deemed by this subsection to have been paid to the employer before the remittance date; and
	(b) where the employer (in this paragraph referred to as the ``particular employer'') was associated on the remittance date with any other employer (in this paragraph referred to as an ``associated employer''), the lesser of
	(i) the amount that would be determined under paragraph (a) in respect of the particular employer on the remittance date if the particular employer were not associated on the remittance date with any other employer, and
	(ii) the amount, if any, by which the lesser of
	(A) the amount, if any, by which $30,000 exceeds the amount, if any, by which the total of the 1992 premium bases of the particular employer and all associated employers exceeds $30,000, and
	(B) the amount, if any, by which
	(I) the total of all amounts each of which is the 1993 cumulative premium base of the particular employer or an associated employer on the remittance date
	exceeds
	(II) the total of all amounts each of which is the 1992 cumulative premium base of the particular employer or an associated employer on the remittance date
	exceeds the total of
	(C) all amounts each of which is an amount deemed or that would, but for subsection (13), be deemed by this subsection to have been paid to the particular employer or an associated employer before the remittance date, and
	(D) all amounts each of which is an amount that would be determined under subparagraph (a)(ii) in respect of an associated employer on the remittance date if the associated employer were not associated on that date with any other employer.
Idem	(13) Where an amount would, but for this subsection, be deemed by subsection (12) to be paid at any time to a partnership, that portion of the amount that can reasonably be considered to be a taxpayer's share of it shall be deemed not to have been paid to the partnership and to have been paid at that time by the Minister to the taxpayer on account of the overpayment determined under subsection (7) in respect of the taxpayer.
Excess prepayment	(14) Where the total of all amounts paid under subsection (12) to a taxpayer exceeds the taxpayer's UI premium tax credit, the excess shall be deemed to have been refunded to the taxpayer, on the taxpayer's last remittance date for 1993, on account of the taxpayer's liability under this Part for the taxpayer's last taxation year beginning before 1994.
Idem	(15) Where the total of all amounts paid under subsection (13) to a taxpayer in respect of a partnership exceeds that portion of the partnership's UI premium tax credit that can reasonably be considered to be the taxpayer's share of it, the excess shall be deemed to have been refunded to the taxpayer, on the partnership's last remittance date for 1993, on account of the taxpayer's liability under this Part for the taxpayer's last taxation year beginning before 1994.
	(2) Subsection (1) applies after 1992.
	15. (1) Subsection 127(5) of the Act is replaced by the following:
Investment tax credit	(5) There may be deducted from the tax otherwise payable by a taxpayer under this Part for a taxation year an amount not exceeding the lesser of
	(a) the total of
	(i) the taxpayer's investment tax credit at the end of the year in respect of property acquired, or an expenditure made, before the end of the year, and
	(ii) the lesser of
	(A) the taxpayer's investment tax credit at the end of the year in respect of property acquired, or an expenditure made, in a subsequent taxation year, to the extent that the investment tax credit was not deductible under this subsection or subsection 180.1(1.2) for the taxation year in which the property was acquired, or the expenditure was made, as the case may be, and
	(B) the amount, if any, by which the taxpayer's tax otherwise payable under this Part for the year exceeds the amount, if any, determined under subparagraph (i), and
	(b) where Division E.1 applies to the taxpayer for the year, the amount, if any, by which the total of
	(i) the taxpayer's tax otherwise payable under this Part for the year, and
	(ii) the taxpayer's tax payable under Part I.1 for the year before deducting any amount under subsection 180.1(1.2)
	exceeds the taxpayer's minimum amount for the year determined under section 127.51.
	(2) The definition ``annual investment tax credit limit'' in subsection 127(9) of the Act is repealed.
	(3) Subparagraph (a)(i) of the definition ``investment tax credit'' in subsection 127(9) of the Act is replaced by the following:
	(i) the capital cost to the taxpayer of approved project property, certified property, qualified construction equipment, qualified property, qualified small-business property or qualified transportation equipment acquired by the taxpayer in the year,
	(4) The definition ``investment tax credit'' in subsection 127(9) of the Act is amended by striking out the word ``and'' at the end of paragraph (e) and by replacing paragraph (e.1) with the following:
	(e.1) the total of all amounts each of which is the specified percentage of that part of a repayment made by the taxpayer in the year or in any of the 10 taxation years immediately preceding or the 3 taxation years immediately following the year that can reasonably be considered to be a repayment of government assistance, non-government assistance or a contract payment that reduced the capital cost to the taxpayer of a property under paragraph (11.1)(b), the amount of an expenditure made by the taxpayer under paragraph (11.1)(c) or the prescribed proxy amount of the taxpayer under paragraph (11.1)(f), and
	(e.2) the total of all amounts each of which is the specified percentage of 1/4 of that part of a repayment made by the taxpayer in the year or in any of the 10 taxation years immediately preceding or the 3 taxation years immediately following the year that can reasonably be considered to be a repayment of government assistance, non-government assistance or a contract payment that reduced the amount of an expenditure made by the taxpayer under paragraph (11.1)(e) in respect of first term shared-use-equipment or second term shared-use-equipment, and, for that purpose, a repayment made by the taxpayer in any taxation year preceding the first taxation year ending coincidentally with the first period or the second period in respect of first term shared-use-equipment or second term shared-use-equipment, respectively, shall be deemed to have been made by the taxpayer in that first taxation year
	(5) The portion of the definition ``investment tax credit'' in subsection 127(9) of the Act after paragraph (k) is replaced by the following:
	except that no amount shall be included in the total determined under any of paragraphs (a) to (e.2) in respect of any qualified Canadian exploration expenditure or qualified expenditure made by the taxpayer in the course of earning income from a business, or in respect of any approved project property, certified property, qualified property or qualified small-business property acquired by the taxpayer for use in the course of earning income from a business, if any of the income from that business is exempt from tax under this Part;
	(6) The portion of the definition ``qualified expenditure'' in subsection 127(9) of the Act before paragraph (a) is replaced by the following:
``qualified expenditure'' « dépense admissible »	``qualified expenditure'' means an expenditure in respect of scientific research and experimental development incurred by a taxpayer that is an expenditure in respect of first term shared-use-equipment or second term shared-use-equipment or an expenditure described in paragraph 37(1)(a) or subparagraph 37(1)(b)(i) and includes an amount that is a prescribed proxy amount of a taxpayer, but does not include
	(7) Paragraph (f) of the definition ``specified percentage'' in subsection 127(9) of the Act is replaced by the following:
	(f) in respect of the repayment of government assistance, non-government assistance or a contract payment that reduced the capital cost to the taxpayer of a property under paragraph (11.1)(b), the amount of an expenditure made by the taxpayer under paragraph (11.1)(c) or (e), or the prescribed proxy amount of a taxpayer under paragraph (11.1)(f), the specified percentage that was applicable in respect of the property, the expenditure or the prescribed proxy amount, as the case may be,
	(8) The definition ``specified percentage'' in subsection 127(9) of the Act is amended by striking out the word ``and'' at the end of paragraph (g), by adding the word ``and'' at the end of paragraph (h) and by adding the following after paragraph (h):
	(i) in respect of qualified small-business property, 10%.
	(9) Subsection 127(9) of the Act is amended by adding the following in alphabetical order:
``eligible taxpayer'' « contribuabl e admissible »	``eligible taxpayer'' means
	(a) a corporation other than a non-qualifying corporation,
	(b) an individual other than a trust,
	(c) a trust all the beneficiaries of which are eligible taxpayers, and
	(d) a partnership all the members of which are eligible taxpayers,
	and, for the purpose of this definition, a beneficiary of a trust is a person or partnership that is beneficially interested in the trust;
``first term shared-use-eq uipment'' « matériel à vocations multiples de première période »	``first term shared-use-equipment'' of a taxpayer means depreciable property of the taxpayer (other than prescribed depreciable property of a taxpayer) that is used by the taxpayer, during its operating time in the period (in this subsection and subsection (11.1) referred to as the ``first period'') beginning at the time the property was acquired by the taxpayer and ending at the end of the taxpayer's first taxation year ending at least 12 months after that time, primarily for the prosecution of scientific research and experimental development in Canada, but does not include general purpose office equipment or furniture;
``non-qualifyi ng corporation'' « société non admissible »	``non-qualifying corporation'' at any time means
	(a) a corporation that is, at that time, not a Canadian-controlled private corporation,
	(b) a corporation that would be liable to pay tax under Part I.3 for the taxation year of the corporation that includes that time if that Part were read without reference to subsection 181.1(4) and if the amount determined under subsection 181.2(3) in respect of the corporation for the year were determined without reference to amounts described in any of paragraphs 181.2(3)(a), (b), (d) and (f) to the extent that the amounts so described were used to acquire property that would be qualified small-business property if the corporation were not a non-qualifying corporation, or
	(c) a corporation that at that time is related for the purposes of section 181.5 to a corporation described in paragraph (b);
``qualified small-business property'' « bien admissible de petite entreprise »	``qualified small-business property'' means property, acquired by a taxpayer who was an eligible taxpayer at the time the property was acquired, that, if this subsection were read without reference to subsection (11.2), would be
	(a) certified property of the taxpayer if the definition ``certified property'' were read without the reference in it to paragraph (a) of the definition ``qualified property'' and without reference to subparagraphs (a)(i) and (ii) of it and if the reference in subparagraph (a)(iii) of it to ``after 1988'' were read as a reference to ``after December 2, 1992 and before 1994'',
	(b) qualified construction equipment of the taxpayer if the definition ``qualified construction equipment'' were read without reference to paragraph (b) of it and if the reference in it to ``after April 19, 1983 and before 1989'' were read as a reference to ``after December 2, 1992 and before 1994'',
	(c) qualified property of the taxpayer if the definition ``qualified property'' were read without reference to paragraphs (a) and (d) of it and if the reference in paragraph (b) of it to ``after June 23, 1975'' were read as a reference to ``after December 2, 1992 and before 1994'', or
	(d) qualified transportation equipment of the taxpayer if the definition ``qualified transportation equipment'' were read without reference to paragraph (b) of it and if the reference in it to ``after November 16, 1978 and before 1989'' were read as a reference to ``after December 2, 1992 and before 1994'',
	and where the property was acquired by the taxpayer to be leased to a person with whom the taxpayer does not deal at arm's length and the property is used by the person in Canada primarily for the purposes described in any of the definitions ``qualified construction equipment'', ``qualified property'' and ``qualified transportation equipment'', for the purposes of this subsection, the taxpayer shall be deemed to have acquired the property for that use;
``second term shared-use-eq uipment'' « matériel à vocations multiples de deuxième période »	``second term shared-use-equipment'' of a taxpayer means property of the taxpayer that was first term shared-use-equipment of the taxpayer and that is used by the taxpayer, during its operating time in the period (in this subsection and subsection (11.1) referred to as the ``second period'') beginning at the time the property was acquired by the taxpayer and ending at the end of the taxpayer's first taxation year ending at least 24 months after that time, primarily for the prosecution of scientific research and experimental development in Canada;
	(10) Subsections 127(10.1) to (10.4) of the Act are replaced by the following:
Additions to investment tax credit	(10.1) For the purpose of paragraph (e) of the definition ``investment tax credit'' in subsection (9), where a taxpayer was throughout a particular taxation year a Canadian-controlled private corporation the taxable income of which, for the taxation year preceding the particular year together with the taxable incomes of all corporations with which it was associated in the particular year for their taxation years ending in the calendar year preceding the calendar year in which the taxpayer's particular year ended, does not exceed twice the total of the business limits (as determined under section 125) of the taxpayer and the associated corporations for those preceding years, the amount, if any, by which
	(a) 35% of the lesser of
	(i) the total of all expenditures described in subparagraph (e)(iv) of the definition ``specified percentage'' in subsection (9) made by the taxpayer in the particular year and that were designated by it in its return of income under this Part for the particular year, and
	(ii) the taxpayer's expenditure limit for the particular year
	exceeds
	(b) the total of all amounts determined under paragraph (a) of the definition ``investment tax credit'' in subsection (9) in respect of an expenditure referred to in subparagraph (a)(i)
	shall be added in computing the taxpayer's investment tax credit at the end of the particular year.