Income Tax Act — I-3.3 149.1
ion or trust in support of its stated purposes shall be considered to be carried on in furtherance of those purposes and not for any other purpose. Partnership look-through rule (11) For the purposes of this section and sections 149.2 and 188.1, each member of a partnership at any time is deemed at that time to own the portion of each property of the partnership equal to the proportion that the fair market value of the member’s interest in the partnership at that time is of the fair market value of all interests in the partnership at that time. Rules (12) For the purposes of this section, (a) a corporation is controlled by a charitable foundation if more than 50% of the corporation’s issued share capital, having full voting rights under all circumstances, belongs to (i) the foundation, or (ii) the foundation and persons with whom the foundation does not deal at arm’s length, but, for the purpose of paragraph (3)(c), a charitable foundation is deemed not to have acquired control of a corporation if it has not purchased or otherwise acquired for consideration more than 5% of the issued shares of any class of the capital stock of that corporation; (b) there shall be included in computing the income of a charity for a taxation year all gifts received by it in the year including gifts from any other charity but not including (i) a designated gift, (ii) any gift or portion of a gift in respect of which it is established that the donor is not a charity and (A) has not been allowed a deduction under paragraph 110.1(1)(a) in computing the donor’s taxable income or under subsection 118.1(3) in computing the donor’s tax payable under this Part, or (B) was not taxable under section 2 for the taxation year in which the gift was made, or (iii) any gift or portion of a gift in respect of which it is established that the donor is a charity and that the gift was not made out of the income of the donor; and (c) subsections 104(6) and 104(12) are not applicable in computing the income of a charitable foundation that is a trust. Designation of private foundation as public (13) On application made to the Minister by a private foundation, the Minister may, on such terms and conditions as the Minister considers appropriate, designate the foundation to be a public foundation, and on and after the date specified in such a designation, the foundation to which it relates shall, until such time, if any, as the Minister revokes the designation, be deemed to be a public foundation. Information returns (14) Every registered charity and registered Canadian amateur athletic association shall, within six months from the end of each taxation year of the charity or association and without notice or demand, file with the Minister both an information return and a public information return for the year in prescribed form and containing prescribed information. Information returns (14.1) Every registered journalism organization shall, within six months from the end of each taxation year of the organization without notice or demand, file with the Minister both an information return and a public information return for the year in prescribed form and containing prescribed information including, for the public information return, for each donor whose total gifts to the organization in the year exceed $5,000, the name of the donor and the total amount donated. Information may be communicated (15) Notwithstanding section 241, (a) the information contained in a public information return referred to in subsection (14) or (14.1), and the filing status of information returns required by that subsection, shall be communicated or otherwise made available to the public by the Minister in such manner as the Minister considers appropriate; (b) the Minister may make available to the public in any manner that the Minister considers appropriate, in respect of each registered, or previously registered, charity, Canadian amateur athletic association, journalism organization and qualifie