GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
QET income tax rate , for a trust’s taxation year, means the amount, expressed as a decimal fraction, by which (a) the percentage rate of tax provided under paragraph 123(1)(a) for the taxation year exceeds (b) the total of (i) the percentage that would, if the trust were a corporation, be its general rate reduction percentage, within the meaning assigned by subsection 123.4(1), for the taxation year, and (ii) the percentage deduction from tax provided under subsection 124(1) for the taxation year. ( taux d’impôt sur le revenu des FEA )
Income Tax Act — I-3.3
qualifying contract , in respect of a trust, means a contract entered into with Her Majesty in right of Canada or a province on or before the later of January 1, 1996 and the day that is one year after the day on which the trust was created. ( contrat admissible )
Income Tax Act — I-3.3 (a)
qualifying environmental trust means a trust (a) each trustee of which is (i) Her Majesty in right of Canada or a province, or (ii) a corporation resident in Canada that is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee; (b) that is maintained for the sole purpose of funding the reclamation of a qualifying site; (c) that is, or may become, required to be maintained under (i) the terms of a qualifying contract, or (ii) a qualifying law; and (d) that is not an excluded trust. ( fiducie pour l’environnement admissible )
Income Tax Act — I-3.3 (a)
qualifying law , in respect of a trust, means (a) a law of Canada or a province that was enacted on or before the later of January 1, 1996 and the day that is one year after the day on which the trust was created; and (b) if the trust was created after 2011, an order made (i) by a tribunal constituted under a law described by paragraph (a), and (ii) on or before the day that is one year after the day on which the trust was created. ( loi admissible )
Income Tax Act — I-3.3 (a)
qualifying site , in respect of a trust, means a site in Canada that is or has been used primarily for, or for any combination of, (a) the operation of a mine, (b) the extraction of clay, peat, sand, shale or aggregates (including dimension stone and gravel), (c) the deposit of waste, or (d) if the trust was created after 2011, the operation of a pipeline. ( site admissible )
Income Tax Act — I-3.3 211.7
Definitions 211.7 (1) The definitions in this section apply for the purposes of this Part. approved share has the meaning assigned by subsection 127.4(1). ( action approuvée ) labour-sponsored funds tax credit in respect of a share is (a) where the original acquisition of the share occurred before 1996, 20% of the net cost of the share on that acquisition; (b) in any other case, the amount that would be determined under subsection 127.4(6) in respect of the share if this Act were read without reference to its paragraphs (b) and (d). ( crédit d’impôt relatif à un fonds de travailleurs ) (c) [Repealed, 2016, c. 7, s. 44] net cost has the meaning assigned by subsection 127.4(1). ( coût net ) original acquisition has the meaning assigned by subsection 127.4(1). ( acquisition initiale ) qualifying exchange means an exchange by a taxpayer of an approved share, that is part of a series of Class A shares of the capital stock of a corporation, for another approved share, that is part of another series of Class A shares of the capital stock of the corporation, if (a) the only consideration received by the taxpayer on the exchange is the other share; and (b) the rights in respect of the series are identical except for the portion of the reserve (within the meaning assigned by subsection 204.8(1)) of the corporation that is attributable to each series. ( échange admissible ) qualifying trust has the meaning assigned by subsection 127.4(1). ( fiducie admissible ) revoked corporation means a corporation the registration of which has been revoked under subsection 204.81(6). ( société radiée ) Amalgamations and mergers (2) For the purposes of this Part, where two or more corporations (each of which is referred to in this subsection as a “predecessor corporation”) amalgamate or merge to form a corporate entity deemed by paragraph 204.85(3)(d) to have been registered under Part X.3, the shares of each predecessor corporation are deemed not to be redeemed, acquired or cancelled by the predecessor corporation on the amalgamation or merger. Exchangeable shares (3) For the purposes of this Part and Part X.3, if an approved share of the capital stock of a corporation (referred to in this subsection as the “new share”) has been issued in exchange for another approved share (referred to in this subsection as the “original share”) in a qualifying exchange, the new share is deemed not to have been issued on the exchange and is deemed to have been issued at the time the corporation issued the original share. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1997, c. 25, s. 62; 2000, c. 19, s. 61; 2013, c. 34, s. 343, c. 40, s. 80; 2016, c. 7, s. 44
Income Tax Act — I-3.3
approved share has the meaning assigned by subsection 127.4(1). ( action approuvée )
Income Tax Act — I-3.3 (a)
labour-sponsored funds tax credit in respect of a share is (a) where the original acquisition of the share occurred before 1996, 20% of the net cost of the share on that acquisition; (b) in any other case, the amount that would be determined under subsection 127.4(6) in respect of the share if this Act were read without reference to its paragraphs (b) and (d). ( crédit d’impôt relatif à un fonds de travailleurs ) (c) [Repealed, 2016, c. 7, s. 44]
Income Tax Act — I-3.3
net cost has the meaning assigned by subsection 127.4(1). ( coût net )
Income Tax Act — I-3.3
original acquisition has the meaning assigned by subsection 127.4(1). ( acquisition initiale )
Income Tax Act — I-3.3 (a)
qualifying exchange means an exchange by a taxpayer of an approved share, that is part of a series of Class A shares of the capital stock of a corporation, for another approved share, that is part of another series of Class A shares of the capital stock of the corporation, if (a) the only consideration received by the taxpayer on the exchange is the other share; and (b) the rights in respect of the series are identical except for the portion of the reserve (within the meaning assigned by subsection 204.8(1)) of the corporation that is attributable to each series. ( échange admissible )
Income Tax Act — I-3.3
qualifying trust has the meaning assigned by subsection 127.4(1). ( fiducie admissible )
Income Tax Act — I-3.3
revoked corporation means a corporation the registration of which has been revoked under subsection 204.81(6). ( société radiée )
Income Tax Act — I-3.3 211.8
er immediately before the redemption, acquisition or cancellation, the transferee shall (a) withhold from the amount otherwise payable on the redemption, acquisition or cancellation to the shareholder the amount of the tax; (b) within 30 days after the redemption, acquisition or cancellation, remit the amount of the tax to the Receiver General on behalf of the shareholder; and (c) submit with the remitted amount a statement in prescribed form. Liability for tax (3) Where a transferee has failed to withhold any amount as required by subsection 211.8(2) from an amount paid or credited to a shareholder, the transferee is liable to pay as tax under this Part on behalf of the shareholder the amount the transferee failed to withhold, and is entitled to recover that amount from the shareholder. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1997, c. 25, s. 62; 2000, c. 19, s. 62; 2013, c. 34, s. 344
Income Tax Act — I-3.3 211.81
Tax for failure to reacquire certain shares 211.81 If a particular amount is payable under a prescribed provision of a provincial law for a taxation year of an individual as determined for the purposes of that provincial law (referred to in this section as the “relevant provincial year”), and an amount has been included in the computation of the labour-sponsored funds tax credit of the individual under subsection 127.4(6) in respect of an approved share that has been disposed of by a qualifying trust in respect of the individual, the individual shall pay a tax for the taxation year in which the relevant provincial year ends equal to the amount deducted by the individual under subsection 127.4(2) in respect of the share. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2013, c. 34, s. 345, c. 40, s. 81
Income Tax Act — I-3.3 211.82
Return 211.82 (1) Every person that is liable to pay tax under this Part for a taxation year shall, not later than the day on or before which the person is required by section 150 to file a return of income for the year under Part I, file with the Minister a return for the year under this Part in prescribed form containing an estimate of the tax payable by the person for the year. Provisions applicable to this Part (2) Subsections 150(2) and (3), sections 152, 158 and 159, subsections 161(1) and (11), sections 162 to 167 and Division J of Part I apply to this Part, with any modifications that the circumstances require. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2013, c. 34, s. 345
Income Tax Act — I-3.3 211.9
211.9 [Repealed, 2013, c. 34, s. 346] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1997, c. 25, s. 62; 2000, c. 19, s. 63; 2013, c. 34, s. 346
Income Tax Act — I-3.3 211.92
r. Election by member to pay tax (14) A taxable Canadian corporation that is a member of a partnership during a fiscal period of the partnership may elect, in prescribed form and manner, to add to its tax payable under this Part for its taxation year that includes the end of the fiscal period the total amount of tax determined for that fiscal period because of subsection (12) in respect of the partnership. Joint and several, or solidary, liability (15) Each current or former member of a partnership is jointly and severally, or solidarily, liable for any portion of the amount of tax — determined because of subsection (12) in respect of the partnership for a fiscal period — that is not added to the tax payable (a) of a qualifying taxpayer under subsection (13); or (b) of a taxable Canadian corporation because of subsection (14) and paid by the corporation by its filing-due date for its taxation year that includes the end of the fiscal period. Former member liability (16) If a particular taxpayer was, at the time that an amount is determined because of subsection (12) in respect of the partnership for a taxation year, no longer a member of the partnership, the particular taxpayer’s liability for tax because of subsection (15) is limited to the total of all amounts each of which is an amount determined for the particular taxpayer under subsection 127.44(2) because of its membership in the partnership. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2024, c. 15, s. 58 2024, c. 17, s. 80 2026, c. 3, s. 85
Income Tax Act — I-3.3
actual eligible use percentage , in respect of a CCUS project, for a period means the amount, expressed as a percentage, determined by the formula A ÷ B where A is the quantity of captured carbon that the CCUS project supported for storage or use in eligible use during the period, and B is the total quantity of captured carbon that the CCUS project supported for storage or use in both eligible use and ineligible use during the period. ( pourcentage réel d’utilisation admissible )
Income Tax Act — I-3.3
exempt corporation at any time, means a corporation that does not have an ownership interest, whether directly or indirectly, in a qualified CCUS project in respect of which $20 million or more of qualified CCUS expenditures are expected to be incurred (based on the most recent project evaluation issued by the Minister of Natural Resources for the project). ( société exonérée )
Income Tax Act — I-3.3 (a)
first project period , in respect of a CCUS project, means the period that begins on the first day of commercial operations — or, if the project has not yet commenced operations, the day on which, according to the most recent project plan, operations are expected to begin — and ends (a) if that day is before October of a calendar year, on December 31 of the calendar year that includes the fourth anniversary of that day; or (b) if that day is after September of a calendar year, on December 31 of the calendar year that includes the fifth anniversary of that day. ( première période du projet )
Income Tax Act — I-3.3
first recovery taxation year , in respect of a project period of a CCUS project, means the taxation year that includes the last day of the first project period. ( première année d’imposition de recouvrement )
Income Tax Act — I-3.3
fourth project period , in respect of a CCUS project, means the five calendar years following the end of the third project period. ( quatrième période du projet )
Income Tax Act — I-3.3
fourth recovery taxation year , in respect of a project period of a CCUS project, means the taxation year that includes the last day of the fourth project period. ( quatrième année d’imposition de recouvrement )
Income Tax Act — I-3.3 (a)
knowledge sharing CCUS project means a qualified CCUS project that (a) is expected to incur qualified CCUS expenditures of $250 million or more based on the most recent project evaluation issued by the Minister of Natural Resources for the project; or (b) has incurred $250 million or more of qualified CCUS expenditures before the first day of commercial operations of the project. ( projet de CUSC requérant l’échange de connaissances )
Income Tax Act — I-3.3 (a)
knowledge sharing report , in respect of a CCUS project, means (a) an annual operations knowledge sharing report containing the information described by the Minister of Natural Resources in the CCUS-ITC Technical Guidance Document as published by the Minister of Natural Resources and amended from time to time, in the form annexed to the CCUS-ITC Technical Guidance Document ; and (b) the construction and completion knowledge sharing report containing the information described in the CCUS-ITC Technical Guidance Document referred to in paragraph (a). ( rapport sur l’échange de connaissances )
Income Tax Act — I-3.3
knowledge sharing taxpayer means a taxpayer that claimed a CCUS tax credit for a taxation year ending before the project start-up date of a knowledge sharing CCUS project. ( contribuable échangeant des connaissances )
Income Tax Act — I-3.3
project period , in respect of a CCUS project, means any of the first project period, the second project period, the third project period and the fourth project period. ( période de projet )
Income Tax Act — I-3.3
project start-up date means the day that is 120 days before the first day of commercial operations. ( jour du début du projet )
Income Tax Act — I-3.3
recovery taxation year , in respect of a CCUS project, means any of the first recovery taxation year, the second recovery taxation year, the third recovery taxation year and the fourth recovery taxation year. ( année d’imposition de recouvrement )
Income Tax Act — I-3.3 (a)
relevant project period means (a) in respect of the first recovery taxation year, the first project period; (b) in respect of the second recovery taxation year, the second project period; (c) in respect of the third recovery taxation year, the third project period; and (d) in respect of the fourth recovery taxation year, the fourth project period. ( période de projet pertinente )
Income Tax Act — I-3.3 (a)
reporting-due day means the later of December 31, 2025 and (a) in respect of an annual climate risk disclosure report, the day that is nine months after the day on which the reporting taxation year for the report ends; (b) in respect of an annual operations knowledge sharing report, (i) if the report is the first such report, (A) where the project start-up date is before October 1 in a calendar year, June 30 of the following calendar year, and (B) where the project start-up date is after September 30 in a calendar year, June 30 of the second calendar year after the calendar year which includes the the project start-up date, and (ii) if the report is not the first report, each June 30 of the first four calendar years immediately following the calendar year which includes the June 30 referred to in subparagraph (i); and (c) in respect of the construction and completion knowledge sharing report, the last day of the sixth month beginning after the project start-up date. ( date d’échéance du rapport )
Income Tax Act — I-3.3 (a)
reporting period means (a) in respect of the construction and completion knowledge sharing report, the period that begins on the first day an expenditure for a CCUS project is incurred and ends on the project start-up date of the knowledge sharing CCUS project; and (b) in respect of an annual operations knowledge sharing report, each period that begins on the project start-up date and ends on the last day of the calendar year ending immediately before the reporting-due day for the annual operations knowledge sharing report. ( période de déclaration )
Income Tax Act — I-3.3 (a)
reporting taxation year means (a) the first taxation year of a taxpayer in which a CCUS tax credit was deducted, in respect of a CCUS project of the taxpayer; and (b) each taxation year that (i) begins after a taxation year referred to in paragraph (a), and (ii) ends before the twenty-first calendar year after the end of the taxation year which includes the first day of commercial operations of the CCUS project. ( année d’imposition de la déclaration )
Income Tax Act — I-3.3
second project period , in respect of a CCUS project, means the five calendar years following the end of the first project period. ( deuxième période du projet )
Income Tax Act — I-3.3
second recovery taxation year , in respect of a project period of a CCUS project, means the taxation year that includes the last day of the second project period. ( deuxième année d’imposition de recouvrement )
Income Tax Act — I-3.3
third project period , in respect of a CCUS project, means the five calendar years following the end of the second project period. ( troisième période du projet )
Income Tax Act — I-3.3
third recovery taxation year , in respect of a project period of a CCUS project, means the taxation year that includes the last day of the third project period. ( troisième année d’imposition de recouvrement )
Income Tax Act — I-3.3 211.94
Administration 211.94 Subsection 150(2) and (3), sections 152, 158, 159 and 161 to 167 and Division J of Part I apply to this Part, with such modification as the circumstances require, except that, in the application of subsection 161(1) to an amount of tax payable under section 211.92, the balance-due day of a taxpayer in respect of a recovery taxation year is deemed to be the balance-due day of the taxation year for the related CCUS tax credit under subsection 127.44(2). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2024, c. 15, s. 58
Income Tax Act — I-3.3 211.95
Records and books 211.95 Every person required by section 230 to keep records and books of account on behalf of a taxpayer shall retain all records and books of account referred to in that section as are necessary to verify information regarding CCUS tax credits of the taxpayer under section 127.44 or amounts payable by the taxpayer under this Part, in respect of a CCUS project, until the end of the later of (a) the period referred to in paragraph 230(4)(b), and (b) 26 years after the end of the taxpayer’s last taxation year for which an amount was deemed to have been paid under subsection 127.44(2) by reason of its paragraph (a). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2024, c. 15, s. 58
Income Tax Act — I-3.3 (a)
fully exempt interest means (a) interest that is paid or payable on a bond, debenture, note, mortgage, hypothecary claim or similar debt obligation (i) of, or guaranteed (otherwise than by being insured by the Canada Deposit Insurance Corporation) by, the Government of Canada, (ii) of the government of a province, (iii) of an agent of a province, (iv) of a municipality in Canada or a municipal or public body performing a function of government in Canada, (v) of a corporation, commission or association to which any of paragraphs 149(1)(d) to (d.6) applies, or (vi) of an educational institution or a hospital if repayment of the principal amount of the obligation and payment of the interest is to be made, or is guaranteed, assured or otherwise specifically provided for or secured by the government of a province; (b) interest that is paid or payable on a mortgage, hypothecary claim or similar debt obligation secured by, or on an agreement for sale or similar obligation with respect to, real property situated outside Canada or an interest in any such real property, or to immovables situated outside Canada or a real right in any such immovable, except to the extent that the interest payable on the obligation is deductible in computing the income of the payer under Part I from a business carried on by the payer in Canada or from property other than real or immovable property situated outside Canada; (c) interest that is paid or payable to a prescribed international organization or agency; or (d) an amount paid or payable or credited under a securities lending arrangement, or a specified securities lending arrangement, that is deemed by subparagraph 260(8)(a)(i) to be a payment made by a borrower to a lender of interest, if the arrangement is a fully collateralized arrangement, and (i) the following conditions are met: (A) the arrangement was entered into by the borrower in the course of carrying on a business outside Canada, and (B) the security that is transferred or lent to the borrower under the arrangement is described in paragraph (b) of the definition qualified security in subsection 260(1) and issued by a non-resident issuer, (ii) the security that is transferred or lent to the borrower under the arrangement is described in paragraph (c) of the definition qualified security in subsection 260(1), or (iii) the security that is transferred or lent to the borrower under the arrangement is described in paragraph (a) or (b). ( intérêts entièrement exonérés )
Income Tax Act — I-3.3
participating debt interest means interest (other than interest described in any of paragraphs (b) to (d) of the definition fully exempt interest ) that is paid or payable on an obligation, other than a prescribed obligation, all or any portion of which interest is contingent or dependent on the use of or production from property in Canada or is computed by reference to revenue, profit, cash flow, commodity price or any other similar criterion or by reference to dividends paid or payable to shareholders of any class of shares of the capital stock of a corporation. ( intérêts sur des créances participatives )
Income Tax Act — I-3.3 (a)
relevant funder , in respect of a relevant funding arrangement, means (a) if the relevant funding arrangement is described in paragraph (a) of the definition relevant funding arrangement , the immediate funder referred to in paragraph (3.1)(a); (b) if the relevant funding arrangement is described in paragraph (b) of the definition relevant funding arrangement , the creditor in respect of the debt or other obligation or the grantor of the specified right, as the case may be; or (c) a person or partnership that does not deal at arm’s length with a person or partnership that is referred to in paragraph (a) or (b) and that deals at arm’s length with the taxpayer. ( bailleur de fonds considéré )