GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
foreign resource income of a taxpayer for a taxation year, in respect of a country other than Canada, means the total of (a) that part of the taxpayer’s income for the year, determined without reference to subsections (4) and 66(4), that is reasonably attributable to (i) the production of petroleum or natural gas from natural accumulations of petroleum or natural gas in that country or from oil or gas wells in that country, or (ii) the production of minerals from mines in that country; (b) the taxpayer’s income for the year from royalties in respect of a natural accumulation of petroleum or natural gas in that country, an oil or gas well in that country or a mine in that country, determined without reference to subsections (4) and 66(4); and (c) all amounts each of which is an amount, in respect of a foreign resource property in respect of that country that has been disposed of by the taxpayer, equal to the amount, if any, by which (i) the amount included in computing the taxpayer’s income for the year by reason of subsection 59(1) in respect of that disposition exceeds (ii) the total of all amounts each of which is that portion of an amount deducted under subsection 66.7(2) in computing the taxpayer’s income for the year that (A) can reasonably be considered to be in respect of the foreign resource property, and (B) cannot reasonably be considered to have reduced the amount otherwise determined under paragraph (a) or (b) in respect of the taxpayer for the year. ( revenu provenant de ressources à l’étranger )
Income Tax Act — I-3.3
foreign resource loss of a taxpayer for a taxation year in respect of a country other than Canada means the taxpayer’s loss for the year in respect of the country determined in accordance with the definition foreign resource income with such modifications as the circumstances require. ( perte résultant de ressources à l’étranger )
Income Tax Act — I-3.3 (a)
global foreign resource limit of a taxpayer for a taxation year means the amount that is the lesser of (a) the amount, if any, by which (i) the amount determined under subparagraph 66(4)(b)(ii) in respect of the taxpayer for the year exceeds the total of (ii) the total of all amounts each of which is the maximum amount that the taxpayer would be permitted to deduct, in respect of a country, under subsection (4) in computing the taxpayer’s income for the year if, in its application to the year, subsection (4) were read without reference to paragraph (4)(b), and (iii) the amount deducted for the year under subsection 66(4) in computing the taxpayer’s income for the year; and (b) the amount, if any, by which (i) 30% of the total of all amounts each of which is, at the end of the year, the taxpayer’s adjusted cumulative foreign resource expense in respect of a country exceeds (ii) the total described in subparagraph (a)(ii). ( limite globale des frais relatifs à des ressources à l’étranger )
Income Tax Act — I-3.3 66.3
has issued a flow-through share (within the meaning assigned by subsection 66(15)), in computing, at any particular time after that time, the paid-up capital in respect of the class of shares of the capital stock of the corporation that included that share (a) there shall be deducted the amount, if any, by which (i) the increase as a result of the issue of the share in the paid-up capital, determined without reference to this subsection as it applies to the share, in respect of all of the shares of that class exceeds (ii) the amount, if any, by which (A) the total amount of consideration received by the corporation in respect of the share exceeds (B) 50% of the total of the expenses that were renounced by the corporation under subsection 66(12.6), (12.601), (12.62) or (12.64) in respect of the share; and (b) there shall be added an amount equal to the lesser of (i) the amount, if any, by which (A) the total of all amounts each of which is an amount deemed by subsection 84(3), (4) or (4.1) to be a dividend on shares of that class paid by the corporation after February, 1986 and before the particular time exceeds (B) the total that would be determined under clause (A) if this Act were read without reference to paragraph 66.3(4)(a), and (ii) the total of all amounts each of which is an amount required by paragraph 66.3(4)(a) to be deducted in computing the paid-up capital in respect of that class of shares after February, 1986 and before the particular time. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 66.3; 1994, c. 8, s. 7; 1995, c. 21, s. 51; 2013, c. 34, s. 114
Income Tax Act — I-3.3 66.4
red to in the description of D in the definition cumulative Canadian oil and gas property expense in subsection 66.4(5), in paragraph (a) of the description of F in that definition or in the description of G or I in that definition, whichever is applicable, in respect of the person for the taxation year of the person that is deemed under paragraph 115(4)(a) to have ended. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 66.4; 1994, c. 7, Sch. II, s. 41, Sch. VIII, s. 25, c. 21, s. 30; 1995, c. 21, s. 24; 2001, c. 17, s. 48; 2003, c. 28, s. 7; 2013, c. 34, ss. 115, 203 2019, c. 29, s. 6 2026, c. 3, s. 15
Income Tax Act — I-3.3 (a)
accelerated Canadian oil and gas property expense , of a taxpayer, means any cost or expense incurred by the taxpayer during a taxation year, if the cost or expense (a) qualifies as a Canadian oil and gas property expense at the time it is incurred, other than (i) an expense in respect of which the taxpayer is a successor, within the meaning of subsection 66.7(5), and (ii) a cost in respect of a Canadian resource property acquired by the taxpayer, or a partnership in which the taxpayer is a member, from a person or partnership with which the taxpayer does not deal at arm’s length, and (b) is incurred after November 20, 2018 and before 2025; ( frais à l’égard de biens canadiens relatifs au pétrole et au gaz accélérés )
Income Tax Act — I-3.3 (a)
Canadian oil and gas property expense of a taxpayer means any cost or expense incurred after December 11, 1979 that is (a) the cost to the taxpayer of, including any payment for the preservation of a taxpayer’s rights in respect of, any property described in paragraph (a), (c) or (d) of the definition Canadian resource property in subsection 66(15) or any right to or interest in — or, for civil law, any right in or to — the property (other than a right or an interest that the taxpayer has by reason of being a beneficiary under a trust or a member of a partnership), or an amount paid to Her Majesty in right of the Province of Saskatchewan as a net royalty payment pursuant to a net royalty petroleum and natural gas lease that was in effect on March 31, 1977 to the extent that it can reasonably be regarded as a cost of acquiring the lease, (b) subject to section 66.8, the taxpayer’s share of any expense referred to in paragraph (a) incurred by a partnership in a fiscal period thereof at the end of which the taxpayer was a member of the partnership, unless the taxpayer elects in respect of the share in prescribed form and manner on or before the day that is 6 months after the taxpayer’s taxation year in which that period ends, or (c) any cost or expense referred to in paragraph (a) incurred by the taxpayer pursuant to an agreement in writing with a corporation, entered into before 1987, under which the taxpayer incurred the cost or expense solely as consideration for shares, other than prescribed shares, of the capital stock of the corporation issued to the taxpayer or any interest in or right to — or, for civil law, any right in or to — such shares, but for greater certainty, shall not include (d) any consideration given by the taxpayer for any share or any interest therein or right thereto, except as provided by paragraph (c), or (e) any expense described in paragraph (c) incurred by any other taxpayer to the extent that the expense was, (i) by virtue of that paragraph, a Canadian oil and gas property expense of that other taxpayer, (ii) by virtue of paragraph (i) of the definition Canadian exploration expense in subsection 66.1(6), a Canadian exploration expense of that other taxpayer, or (iii) by virtue of paragraph (g) of the definition Canadian development expense in subsection 66.2(5), a Canadian development expense of that other taxpayer, but any amount of assistance that a taxpayer has received or is entitled to receive in respect of or related to the taxpayer’s Canadian oil and gas property expense shall not reduce the amount of any of the expenses described in any of paragraphs (a) to (c); ( frais à l’égard de biens canadiens relatifs au pétrole et au gaz )
Income Tax Act — I-3.3 (a)
is paragraph as was otherwise applied to reduce the amount otherwise determined under this description, and (c) the amount, if any, by which (i) the total of all amounts that would be determined under paragraph 66.7(4)(a), immediately before the relevant time, in respect of the taxpayer and an original owner of the particular property (or of any other property acquired by the taxpayer with the particular property in circumstances in which subsection 66.7(4) applied and in respect of which the proceeds of disposition became receivable by the taxpayer at the relevant time) if (A) amounts that became receivable at or after the relevant time were not taken into account, (B) each designation made under subparagraph 66.7(4)(a)(iii) in respect of an amount that became receivable before the relevant time were made before the relevant time, (C) paragraph 66.7(4)(a) were read without reference to “30% of”, and (D) no reduction under subsection 80(8) at or after the relevant time were taken into account exceeds the total of (ii) all amounts that would be determined under paragraph 66.7(4)(a) at the relevant time in respect of the taxpayer and an original owner of the particular property (or of that other property described in subparagraph (i)) if (A) amounts that became receivable after the relevant time were not taken into account, (B) each designation made under subparagraph 66.7(4)(a)(iii) in respect of an amount that became receivable at or before the relevant time were made before the relevant time, (C) paragraph 66.7(4)(a) were read without reference to “30% of”, (D) amounts described in subparagraph 66.7(4)(a)(ii) that became receivable at the relevant time were not taken into account, and (E) no reduction under subsection 80(8) at or after the relevant time were taken into account, and (iii) such portion of the amount otherwise determined under this paragraph as was otherwise applied to reduce the amount otherwise determined under this description, G is the total of all amounts that became receivable by the taxpayer before that time that are to be included in the amount determined under this description by virtue of paragraph 66(12.5)(a), H is the total of all amounts each of which is an amount received before that time on account of any amount referred to in the description of C, I is the total amount of assistance that the taxpayer has received or is entitled to receive in respect of any Canadian oil and gas property expense incurred after 1980 or that can reasonably be related to any such expense after 1980, I.1 is the total of all amounts by which the cumulative Canadian oil and gas property expense of the taxpayer is required because of subsection 80(8) to be reduced at or before that time, and J is the total of all amounts that are required to be deducted before that time under paragraph 66.7(12)(d) in computing the taxpayer’s cumulative Canadian oil and gas property expense; ( frais cumulatifs à l’égard de biens canadiens relatifs au pétrole et au gaz )
Income Tax Act — I-3.3
proceeds of disposition has the meaning assigned by section 54; ( produit de disposition )
Income Tax Act — I-3.3 (a)
reaccelerated Canadian oil and gas property expense , of a taxpayer, means any cost or expense incurred by the taxpayer during a taxation year, if the cost or expense (a) qualifies as a Canadian oil and gas property expense at the time it is incurred, other than (i) an expense in respect of which the taxpayer is a successor, within the meaning of subsection 66.7(5), and (ii) a cost in respect of a Canadian resource property acquired by the taxpayer, or a partnership in which the taxpayer is a member, from a person or partnership with which the taxpayer does not deal at arm’s length, and (b) is incurred after 2024 and before 2034. ( frais à l’égard de biens canadiens relatifs au pétrole et au gaz réaccélérés )
Income Tax Act — I-3.3 66.5
Deduction from income 66.5 (1) In computing its income for a taxation year that ends before 1995, a corporation that has not made a designation for the year under subsection 66(14.1) or (14.2) may deduct such amount as it may claim not exceeding its cumulative offset account at the end of the year. Definition of cumulative offset account (2) In this section, cumulative offset account of a corporation at any time means the amount, if any, by which (a) the total of all amounts required to be added under subsections 66(14.1) and (14.2) in computing its cumulative offset account before that time, exceeds (b) the total of all amounts deducted under subsection 66.5(1) in computing its income for taxation years ending before that time. Change of control (3) Where at any time after June 5, 1987 control of a corporation has been acquired by a person or group of persons, the amount deductible under subsection 66.5(1) by the corporation in computing its income for a taxation year ending after that time shall not exceed the amount, if any, by which (a) the part of its income for the year that may reasonably be regarded as attributable to production from Canadian resource properties owned by it immediately before that time exceeds (b) the total of all amounts deducted under subsection 29(25) of the Income Tax Application Rules and subsections 66.7(1), (3), (4) and (5) by it in respect of its income for the year in computing its income for the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1986, c. 2, s. 19, c. 58, s. 9; 1987, c. 46, s. 22
Income Tax Act — I-3.3 66.6
Acquisition from tax-exempt 66.6 Where a corporation acquires, by purchase, amalgamation, merger, winding-up or otherwise, all or substantially all of the Canadian resource properties or foreign resource properties of a person whose taxable income is exempt from tax under this Part, subsection 29(25) of the Income Tax Application Rules and subsections 66.7(1) to 66.7(5) do not apply to the corporation in respect of the acquisition of the properties. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 66.6; 1998, c. 19, s. 105
Income Tax Act — I-3.3 66.7
ection (2.3) applies, (a) for the purpose of applying that subsection to the predecessor owner in respect of its acquisition of any foreign resource properties owned by it immediately before the disposition, it is deemed, after the disposition, never to have acquired any such properties except for the purposes of (i) where the predecessor owner and the corporation dealt with each other at arm’s length at the time of the disposition or the disposition was by way of an amalgamation or merger, determining an amount deductible under subsection (2.3) for the year, and (ii) determining the value of F in the definition cumulative foreign resource expense in subsection 66.21(1); and (b) where the corporation or another corporation acquires any of the properties on or after the disposition in circumstances to which subsection (2.3) applies, amounts that become receivable by the predecessor owner after the disposition in respect of foreign resource properties retained by it at the time of the disposition are, for the purposes of applying subsection (2.3) to the corporation or the other corporation in respect of the acquisition, deemed not to have become receivable by the predecessor owner. Non-successor acquisitions (16) If at any time a Canadian resource property or a foreign resource property is acquired by a person in circumstances in which none of subsections (1) to (5), nor subsection 29(25) of the Income Tax Application Rules, apply, every person who was an original owner or predecessor owner of the property before that time is, for the purpose of applying those subsections to or in respect of the person or any other person who after that time acquires the property, deemed after that time not to be an original owner or predecessor owner of the property before that time. Restriction on deductions (17) Where in a particular taxation year and before June 6, 1987 a person disposed of a Canadian resource property or a foreign resource property in circumstances in which any of subsection 29(25) of the Income Tax Application Rules and subsections 66.7(1) to 66.7(5) applies, no deduction in respect of an expense incurred before the property was disposed of may be made under this section or section 66, 66.1, 66.2 or 66.4 by the person in computing the person’s income for a taxation year subsequent to the particular taxation year. Application of interpretation provisions (18) The definitions in subsection 66(15) and sections 66.1 to 66.4 apply in this section. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 66.7; 1994, c. 7, Sch. II, s. 42, c. 8, s. 8, c. 21, s. 31; 1995, c. 21, s. 25; 1997, c. 25, s. 16; 1998, c. 19, s. 106; 2001, c. 17, s. 49; 2013, c. 34, ss. 116, 204
Income Tax Act — I-3.3 66.8
reference to (i) “February 25, 1986” were a reference to “June 17, 1987”, (ii) “February 26, 1986” were a reference to “June 18, 1987”, (iii) “January 1, 1987” were a reference to “January 1, 1988”, (iv) “June 12, 1986” were a reference to “June 18, 1987”, and (v) “prospectus, preliminary prospectus or registration statement” were a reference to “prospectus, preliminary prospectus, registration statement, offering memorandum or notice that is required to be filed before any distribution of securities may commence”; (a.1) the expression at-risk amount of a taxpayer in respect of a partnership has the meaning that would be assigned by subsection 96(2.2) if paragraph 96(2.2)(c) read as follows: (c) all amounts each of which is an amount owing at that time to the partnership, or to a person or partnership not dealing at arm’s length with the partnership, by the taxpayer or by a person or partnership not dealing at arm’s length with the taxpayer, other than any amount deducted under subparagraph 53(2)(c)(i.3) in computing the adjusted cost base, or under section 143.2 in computing the cost, to the taxpayer of the taxpayer’s partnership interest at that time, or any amount owing by the taxpayer to a person in respect of which the taxpayer is a subsidiary wholly-owned corporation or where the taxpayer is a trust, to a person that is the sole beneficiary of the taxpayer, and; (b) a reference to a taxpayer who is a member of a particular partnership shall include a reference to another partnership that is a member if the particular partnership; and (c) a taxpayer’s share of Canadian development expenses or Canadian oil and gas property expenses incurred by a partnership in a fiscal period in respect of which the taxpayer has elected in respect of the share under paragraph (f) of the definition Canadian development expense in subsection 66.2(5) or paragraph (b) of the definition Canadian oil and gas property expense in subsection 66.4(5), as the case may be, shall be deemed to be nil. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 66.8; 1994, c. 7, Sch. VIII, s. 26; 2001, c. 17, s. 50; 2013, c. 34, s. 205 2024, c. 15, s. 14 2024, c. 17, s. 15 2024, c. 17, s. 80 2026, c. 3, s. 16
Income Tax Act — I-3.3 67
General limitation re expenses 67 In computing income, no deduction shall be made in respect of an outlay or expense in respect of which any amount is otherwise deductible under this Act, except to the extent that the outlay or expense was reasonable in the circumstances. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1970-71-72, c. 63, s. 1“67”
Income Tax Act — I-3.3
eligible travel period in respect of a long-haul truck driver is a period during which the driver is away from the municipality or metropolitan area where the specified place in respect of the driver is located for a period of at least 24 continuous hours for the purpose of driving a long-haul truck that transports goods to, or from, a location that is beyond a radius of 160 kilometres from the specified place. ( période de déplacement admissible )
Income Tax Act — I-3.3
long-haul truck means a truck or a tractor that is designed for hauling freight and that has a gross vehicle weight rating (as that term is defined in subsection 2(1) of the Motor Vehicle Safety Regulations ) that exceeds 11 788 kilograms. ( grand routier )
Income Tax Act — I-3.3
long-haul truck driver means an individual whose principal business or principal duty of employment is driving a long-haul truck that transports goods. ( conducteur de grand routier )
Income Tax Act — I-3.3 (a)
specified percentage in respect of an amount paid or payable is (a) 60 per cent, if the amount is paid or becomes payable on or after March 19, 2007 and before 2008; (b) 65 per cent, if the amount is paid or becomes payable in 2008; (c) 70 per cent, if the amount is paid or becomes payable in 2009; (d) 75 per cent, if the amount is paid or becomes payable in 2010; and (e) 80 per cent, if the amount is paid or becomes payable after 2010. ( pourcentage déterminé )
Income Tax Act — I-3.3
specified place means, in the case of an employee, the employer’s establishment to which the employee ordinarily reports to work is located and, in the case of an individual whose principal business is to drive a long-haul truck to transport goods, the place where the individual resides. ( endroit déterminé )
Income Tax Act — I-3.3 67.2
Interest on money borrowed for certain vehicles 67.2 For the purposes of this Act, if an amount is paid or payable for a period by a person in respect of interest on borrowed money used to acquire a passenger vehicle or zero-emission passenger vehicle, or on an amount paid or payable for the acquisition of such a vehicle, then in computing the person’s income for a taxation year the amount of interest so paid or payable is deemed to be the lesser of the actual amount paid or payable and the amount determined by the formula A/30 × B where A is $250 or such other amount as may be prescribed; and B is the number of days in the period in respect of which the interest was paid or payable, as the case may be. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 67.2; 1994, c. 7, Sch. II, s. 44 2019, c. 29, s. 7