GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — (a)
pay period , of an exemption test policy, means (a) where the exemption test policy is issued in respect of a life insurance policy issued before 2017, (i) if on the date of issue of the exemption test policy, the individual whose life is insured has attained the age of 66 years, as defined under the terms of the policy, but not the age of 75 years, as defined under the terms of the policy, the period that starts on that date and that ends after the number of years obtained when the number of years by which the age of the individual exceeds 65 years, as defined under the terms of the policy, is subtracted from 20, (ii) if on the date of issue of the exemption test policy, the individual whose life is insured has attained the age of 75 years, as defined under the terms of the policy, the 10-year period that starts on that date, and (iii) in any other case, the 20-year period that starts on the date of issue of the exemption test policy; and (b) where the exemption test policy is issued in respect of a coverage under a life insurance policy issued after 2016, (i) subject to subparagraph (ii), if the individual whose life is insured under the coverage would, if the individual survived, attain the age of 105 years, as defined under the terms of the policy, within the eight-year period that starts on the date of issue of the exemption test policy, the period that starts on that date and that ends on the first policy anniversary that is on or after the day on which the individual would, if the individual survived, attain the age of 105 years, as defined under the terms of the policy, (ii) if two or more lives are jointly insured under the coverage and an individual of an age equal to the equivalent single age on the date of the issue of the coverage would, if the individual survived, attain the age of 105 years, as defined under the terms of the policy, within the eight-year period that starts on the date of issue of the exemption test policy, the period that starts on that date and that ends on the first policy anniversary that is on or after the day on which the individual would, if the individual survived, attain the age of 105 years, as defined under the terms of the policy, and (iii) in any other case, the eight-year period that starts on the date of issue of the exemption test policy. ( période de paiement )
Income Tax Regulations — Income Tax Regulations
policy anniversary includes, in the case of a life insurance policy that is in existence throughout a calendar year and that would not otherwise have a policy anniversary for the calendar year, the end of the calendar year. ( anniversaire de la police )
Income Tax Regulations — Income Tax Regulations
policy loan has the same meaning as in subsection 148(9) of the Act. ( avance sur police )
Income Tax Regulations — Income Tax Regulations
proceeds of the disposition has the same meaning as in subsection 148(9) of the Act. ( produit de la disposition )
Income Tax Regulations — Income Tax Regulations
tax anniversary date , in relation to an annuity contract, means the second anniversary date of the contract to occur after October 22, 1968. ( jour anniversaire d’imposition )
Income Tax Regulations — 400
400 (1) In applying the definition taxable income earned in the year in a province in subsection 124(4) of the Act for a corporation’s taxation year (a) the prescribed rules referred to in that definition are the rules in this Part; and (b) the amount determined under those prescribed rules means the total of all amounts each of which is the taxable income of the corporation earned in the taxation year in a particular province as determined under this Part. (1.1) [Repealed, 2013, c. 33, s. 32] (2) For the purposes of this Part, permanent establishment in respect of a corporation means a fixed place of business of the corporation, including an office, a branch, a mine, an oil well, a farm, a timberland, a factory, a workshop or a warehouse, and (a) where the corporation does not have any fixed place of business it means the principal place in which the corporation’s business is conducted; (b) where a corporation carries on business through an employee or agent, established in a particular place, who has general authority to contract for his employer or principal or who has a stock of merchandise owned by his employer or principal from which he regularly fills orders which he receives, the corporation shall be deemed to have a permanent establishment in that place; (c) an insurance corporation is deemed to have a permanent establishment in each province and country in which the corporation is registered or licensed to do business; (d) where a corporation, otherwise having a permanent establishment in Canada, owns land in a province, such land shall be deemed to be a permanent establishment; (e) where a corporation uses substantial machinery or equipment in a particular place at any time in a taxation year it shall be deemed to have a permanent establishment in that place; (e.1) if, but for this paragraph, a corporation would not have a permanent establishment, the corporation is deemed to have a permanent establishment at the place designated in its incorporating documents or bylaws as its head office or registered office; (f) the fact that a corporation has business dealings through a commission agent, broker or other independent agent or maintains an office solely for the purchase of merchandise shall not of itself be held to mean that the corporation has a permanent establishment; and (g) the fact that a corporation has a subsidiary controlled corporation in a place or a subsidiary controlled corporation engaged in trade or business in a place shall not of itself be held to mean that the corporation is operating a permanent establishment in that place. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-772, s. 1; SOR/81-267, s. 1; SOR/86-390, s. 1; SOR/94-140, s. 1; SOR/94-686, ss. 4(F), 57(F), 79(F); 2009, c. 2, s. 91; SOR/2010-93, s. 8(F); 2013, c. 33, s. 32
Income Tax Regulations — 401
401 This Part applies to determine the amount of taxable income of a corporation earned in a taxation year in a particular province. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/94-686, s. 79(F); 2009, c. 2, s. 92
Income Tax Regulations — 402.1
402.1 (1) In this Part, if an individual (referred to in this section as the “employee”) is employed by a person (referred to in this section as the “employer”) and performs a service in a particular province for the benefit of or on behalf of a corporation that is not the employer, an amount that may reasonably be regarded as equal to the amount of salary or wages earned by the employee for the service (referred to in this section as the “particular salary”) is deemed to be salary paid by the corporation to an employee of the corporation in the corporation’s taxation year in which the particular salary is paid if (a) at the time the service is performed, (i) the corporation and the employer do not deal at arm’s length, and (ii) the corporation has a permanent establishment in the particular province; (b) the service (i) is performed by the employee in the normal course of the employee’s employment by the employer, (ii) is performed for the benefit of or on behalf of the corporation in the ordinary course of a business carried on by the corporation, and (iii) is of a type that could reasonably be expected to be performed by employees of the corporation in the ordinary course of the business referred to in subparagraph (ii); and (c) the amount is not otherwise included in the aggregate, determined for the purposes of this Part, of the salaries and wages paid by the corporation. (2) In this Part, an amount deemed under subsection (1) to be salary paid by a corporation to an employee of the corporation for a service performed in a particular province is deemed to have been paid, (a) if the service was performed at one or more permanent establishments of the corporation in the particular province, to an employee of the permanent establishment or establishments; or (b) if paragraph (a) does not apply, to an employee of any other permanent establishment (as is reasonably determined in the circumstances) of the corporation in the particular province. (3) In determining under this Part the amount of salaries and wages paid in a year by an employer, there shall be deducted the total of all amounts each of which is a particular salary paid by the employer in the year. (4) Despite subparagraph (1)(a)(i), this section applies to a corporation and an employer that deal at arm’s length if the Minister determines that the corporation and the employer have entered into an arrangement the purpose of which is to reduce, through the provision of services as described in subsection (1), the total amount of income tax payable by the corporation under a law of the particular province referred to in subsection (1). (5) For the purposes of this section, a partnership is deemed to be a corporation and the corporation’s taxation year is deemed to be the partnership’s fiscal period. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-772, s. 2; SOR/94-686, s. 79(F); 2009, c. 2, s. 93
Income Tax Regulations — 402.2
402.2 [Repealed, 2009, c. 2, s. 93] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-267, s. 2; SOR/94-686, s. 79(F); 2009, c. 2, s. 93
Income Tax Regulations — 403
403 (1) Notwithstanding subsections 402(3) and (4), the amount of taxable income that shall be deemed to have been earned in a taxation year in a particular province by an insurance corporation is that proportion of its taxable income for the year that the aggregate of (a) its net premiums for the year in respect of insurance on property situated in the province, and (b) its net premiums for the year in respect of insurance, other than on property, from contracts with persons resident in the province, is of the total of such of its net premiums for the year as are included in computing its income for the purposes of Part I of the Act. (2) In this section, net premiums of a corporation for a taxation year means the aggregate of the gross premiums received by the corporation in the year (other than consideration received for annuities), minus the aggregate for the year of (a) premiums paid for reinsurance, (b) dividends or rebates paid or credited to policyholders, and (c) rebates or returned premiums paid in respect of the cancellation of policies, by the corporation. (3) For the purposes of subsection (1), where an insurance corporation had no permanent establishment in a taxation year in a particular province, (a) each net premium for that year in respect of insurance on property situated in the particular province shall be deemed to be a net premium in respect of insurance on property situated in the province in which the permanent establishment of the corporation to which the net premium is reasonably attributable is situated; and (b) each net premium for that year in respect of insurance, other than on property, from contracts with persons resident in the particular province shall be deemed to be a net premium in respect of insurance, other than on property, from contracts with persons resident in the province in which the permanent establishment of the corporation to which the net premium is reasonably attributable is situated. (4) For the purposes of subsection (1), if in a taxation year an insurance corporation has no permanent establishment in a particular country other than Canada, but provides insurance on property in the particular country or has a contract for insurance, other than on property, with a person resident in the particular country, each net premium for the taxation year in respect of the insurance is deemed to be a net premium in respect of insurance on property situated in, or from contracts with persons resident in, as the case may be, the province in Canada or country other than Canada in which is situated the permanent establishment of the corporation to which the net premium is reasonably attributable in the circumstances. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/94-686, ss. 5(F), 57(F); 2009, c. 2, s. 94
Income Tax Regulations — 404
404 (1) Notwithstanding subsections 402(3) and (4), the amount of taxable income that is deemed to have been earned by a bank in a taxation year in a province in which it had a permanent establishment is 1/3 of the total of (a) the proportion of its taxable income for the year that the total of the salaries and wages paid in the year by the bank to employees of its permanent establishment in the province is of the total of all salaries and wages paid in the year by the bank; and (b) twice the proportion of its taxable income for the year that the total amount of loans and deposits of its permanent establishment in the province for the year is of the total amount of all loans and deposits of the bank for the year. (2) For the purposes of subsection (1), the amount of loans for a taxation year is 1/12 of the total of the amounts outstanding, on the loans made by the bank, at the close of business on the last day of each month in the year. (3) For the purposes of subsection (1), the amount of deposits for a taxation year is 1/12 of the total of the amounts on deposit with the bank at the close of business on the last day of each month in the year. (4) For the purposes of subsections (2) and (3), loans and deposits do not include bonds, stocks, debentures, items in transit and deposits in favour of Her Majesty in right of Canada. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-949, s. 2; SOR/2009-302, s. 3; 2017, c. 33, s. 86
Income Tax Regulations — 404.1
404.1 (1) Notwithstanding subsections 402(3) and (4), the amount of taxable income that is deemed to have been earned by a federal credit union in a taxation year in a province in which it had a permanent establishment is 1/3 of the total of (a) the proportion of its taxable income for the year that the total of the salaries and wages paid in the year by the federal credit union to employees of its permanent establishment in the province is of the total of all salaries and wages paid in the year by the federal credit union, and (b) twice the proportion of its taxable income for the year that the total amount of loans and deposits of its permanent establishment in the province for the year is of the total amount of all loans and deposits of the federal credit union for the year. (2) For the purposes of subsection (1), the amount of loans for a taxation year is 1/12 of the total of the amounts outstanding, on the loans made by the federal credit union, at the close of business on the last day of each month in the year. (3) For the purposes of subsection (1), the amount of deposits for a taxation year is 1/12 of the total of the amounts on deposit with the federal credit union at the close of business on the last day of each month in the year. (4) For the purposes of subsections (2) and (3), loans and deposits do not include bonds, stocks, debentures, items in transit and deposits in favour of Her Majesty in right of Canada. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2017, c. 33, s. 87
Income Tax Regulations — 405
405 (1) Notwithstanding subsections 402(3) and (4), the amount of taxable income that shall be deemed to have been earned in a taxation year by a trust and loan corporation, trust corporation or loan corporation in a province in which it had a permanent establishment is that proportion of its taxable income for the year that the gross revenue for the year of its permanent establishment in the province is of the total gross revenue for the year of the corporation. (2) In subsection (1), gross revenue for the year of its permanent establishment in the province means the aggregate of the gross revenue of the corporation for the year arising from (a) loans secured by lands situated in the province; (b) loans, not secured by land, to persons residing in the province; (c) loans (i) to persons residing in a province or country other than Canada in which the corporation has no permanent establishment, and (ii) administered by a permanent establishment in the province, except loans secured by land situated in a province or country other than Canada in which the corporation has a permanent establishment; and (d) business conducted at the permanent establishment in the province, other than revenue in respect of loans. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-949, s. 3; SOR/94-686, s. 79(F); SOR/2011-195, s. 2(F)
Income Tax Regulations — 406
y interest therein; (b) a reference in section 402 to “total gross revenue for the year” shall be read as a reference to the total gross revenue of the taxpayer from ownership by the taxpayer of petroleum and natural gas rights and any interest therein; and (c) a reference in section 402 to “salaries and wages paid in the year by the corporation to employees” shall be read as a reference to salaries and wages paid to employees employed in connection with the corporation’s petroleum and natural gas rights and interests therein. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-949, s. 4; SOR/94-686, ss. 57(F), 79(F); SOR/2011-195, s. 3(F)
Income Tax Regulations — 407
407 (1) Notwithstanding subsections 402(3) and (4), the amount of taxable income that shall be deemed to have been earned in a taxation year by an airline corporation in a province in which it had a permanent establishment is the amount that is equal to 1/4 of the aggregate of (a) that proportion of its taxable income for the year that the capital cost of all the corporation’s fixed assets, except aircraft, in the province at the end of the year is of the capital cost of all its fixed assets, except aircraft, in Canada at the end of the year; and (b) that proportion of its taxable income for the year that three times the number of revenue plane miles flown by its aircraft during the year in the province is of the total of all amounts, each of which is the total number of revenue plane miles flown by its aircraft during the year in a province in which the corporation had a permanent establishment. (2) For the purposes of this section, “revenue plane miles flown” shall be weighted according to take-off weight of the aircraft operated. (3) For the purposes of this section, take-off weight of an aircraft means (a) for an aircraft in respect of which an application form for a Certificate of Airworthiness has been submitted to and accepted by the Department of Transport, the maximum permissible take-off weight, in pounds, shown on the form; and (b) for any other aircraft, the weight, in pounds, that may reasonably be considered to be the equivalent of the weight referred to in paragraph (a). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-326, s. 1; SOR/80-949, s. 5; SOR/94-327, s. 2; SOR/94-686, s. 6(F); 2013, c. 34, s. 381
Income Tax Regulations — 408
408 Notwithstanding subsections 402(3) and (4), the amount of taxable income of a corporation whose chief business is the operation of grain elevators that shall be deemed to have been earned by that corporation in a taxation year in a province in which it had a permanent establishment is 1/2 of the aggregate of (a) that proportion of its taxable income for the year that the number of bushels of grain received in the year in the elevators operated by the corporation in the province is of the total number of bushels of grain received in the year in all the elevators operated by the corporation; and (b) that proportion of its taxable income for the year that the aggregate of salaries and wages paid in the year by the corporation to employees of its permanent establishment in the province is of the aggregate of all salaries and wages paid in the year by the corporation. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-949, s. 6; SOR/94-686, s. 79(F)
Income Tax Regulations — 409
409 Notwithstanding subsections 402(3) and (4), the amount of taxable income of a corporation whose chief business is the transportation of goods or passengers (other than by the operation of a railway, ship or airline service) that shall be deemed to have been earned by that corporation in a taxation year in a province in which it had a permanent establishment is 1/2 of the aggregate of (a) that proportion of its taxable income for the year that the number of kilometres driven by the corporation’s vehicles, whether owned or leased, on roads in the province in the year is of the total number of kilometres driven by those vehicles in the year on roads other than roads in provinces or countries in which the corporation had no permanent establishment; and (b) that proportion of its taxable income for the year that the aggregate of salaries and wages paid in the year by the corporation to employees of its permanent establishment in the province is of the aggregate of all salaries and wages paid in the year by the corporation. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-949, s. 7; SOR/86-585, s. 1; SOR/94-686, s. 79(F)
Income Tax Regulations — 410
410 (1) Notwithstanding subsections 402(3) and (4), the amount of taxable income of a corporation whose chief business is the operation of ships that shall be deemed to have been earned by the corporation in a taxation year in a province in which it had a permanent establishment is the aggregate of, (a) that proportion of its allocable income for the year that its port-call-tonnage in the province is of its total port-call-tonnage in all the provinces in which it had a permanent establishment; and (b) if its taxable income for the year exceeds its allocable income for the year, that proportion of the excess that the aggregate of the salaries and wages paid in the year by the corporation to employees of the permanent establishment (other than a ship) in the province is of the aggregate of salaries and wages paid in the year by the corporation to employees of its permanent establishments (other than ships) in Canada. (2) In this section, (a) allocable income for the year means that proportion of the taxable income of the corporation for the year that its total port-call-tonnage in Canada is of its total port-call-tonnage in all countries; and (b) port-call-tonnage in a province or country means the aggregate of the products obtained by multiplying, for each ship operated by the corporation, the number of calls made in the year by that ship at ports in that province or country by the number of tons of the registered net tonnage of that ship. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-949, s. 7; SOR/94-686, s. 79(F)