GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 181.4
Taxable capital employed in Canada of non-resident 181.4 The taxable capital employed in Canada for a taxation year of a corporation (other than a financial institution) that was throughout the year not resident in Canada is the amount, if any, by which (a) the total of all amounts each of which is the carrying value at the end of the year of an asset of the corporation used by it in the year in, or held by it in the year in the course of, carrying on any business carried on by it during the year through a permanent establishment in Canada exceeds the total of (b) the amount of the corporation’s indebtedness at the end of the year (other than indebtedness described in any of paragraphs 181.2(3)(c) to 181.2(3)(f)) that may reasonably be regarded as relating to a business carried on by it during the year through a permanent establishment in Canada, (c) the total of all amounts each of which is the carrying value at the end of the year of an asset described in subsection 181.2(4) of the corporation that was used by it in the year in, or held by it in the year in the course of, carrying on any business carried on by it during the year through a permanent establishment in Canada, and (d) the total of all amounts each of which is the carrying value at the end of the year of an asset of the corporation that (i) is a ship or aircraft operated by the corporation in international traffic or is personal or movable property used in its business of transporting passengers or goods by ship or aircraft in international traffic, and (ii) was used by the corporation in the year in, or held by it in the year in the course of, carrying on any business during the year through a permanent establishment in Canada, if the country in which the corporation is resident imposed neither a capital tax for the year on similar assets nor a tax for the year on the income from the operation of a ship or aircraft in international traffic, of any corporation resident in Canada during the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 181.4; 1994, c. 7, Sch. II, s. 149; 1998, c. 19, s. 197; 2013, c. 34, s. 149
Income Tax Act — I-3.3 181.5
eemed to be in the same position in relation to each other as if the right were immediate and absolute and as if the taxpayer had exercised the right at that time. Related corporations that are not associated (7) For the purposes of subsection 181.3(4) and this section, a Canadian-controlled private corporation and another corporation to which it would, but for this subsection, be related at any time shall be deemed not to be related to each other at that time where the corporations are not associated with each other at that 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. 181.5; 1994, c. 7, Sch. II, s. 150; 1998, c. 19, s. 198; 2003, c. 15, s. 86
Income Tax Act — I-3.3 181.6
Return 181.6 Every corporation that is or would, but for subsection 181.1(4), be liable to pay tax under this Part for a taxation year shall file with the Minister, not later than the day on or before which the corporation is required by section 150 to file its return of income for the year under Part I, a return of capital for the year in prescribed form containing an estimate of the tax payable under this Part by it for the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 181.6; 1994, c. 7, Sch. VIII, s. 108
Income Tax Act — I-3.3 181.7
Provisions applicable to Part 181.7 Sections 152, 158 and 159, subsection 161(11), sections 162 to 167 and Division J of Part I apply to this Part with such modifications as the circumstances require and, for the purpose of this section, paragraph 152(6)(a) shall be read as follows: “(a) a deduction under section 181.1(4) in respect of any unused surtax credit (within the meaning assigned by subsection 181.1(6)) for a subsequent taxation year.” [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 181.7; 1994, c. 7, Sch. II, s. 151, Sch. VIII, s. 109
Income Tax Act — I-3.3 181.71
Provisions applicable — Crown corporations 181.71 Section 27 applies 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.] 1998, c. 19, s. 199
Income Tax Act — I-3.3 181.8
181.8 [Repealed, 1994, c. 7, Sch. VIII, s. 109(1)] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 181.8; 1994, c. 7, Sch. VIII, s. 109
Income Tax Act — I-3.3 181.9
181.9 [Repealed, 1994, c. 7, Sch. VIII, s. 109(1)] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 181.9; 1994, c. 7, Sch. VIII, s. 109
Income Tax Act — I-3.3 182
182 [Repealed, 2017, c. 20, s. 27] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 29, s. 16; 1997, c. 26, s. 77; 2000, c. 30, s. 173; 2001, c. 16, s. 43; 2007, c. 35, s. 54; 2017, c. 20, ss. 26, 27
Income Tax Act — I-3.3 183
183 [Repealed, 2017, c. 20, s. 27] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 29, s. 16; 2000, c. 30, s. 174; 2017, c. 20, s. 27
Income Tax Act — I-3.3 183.1
is section has been applied in respect of an amount, subsections 110.6(8), 110.61(8) and 110.62(8) do not apply to the capital gain in respect of which the amount formed all or a part of the proceeds of disposition. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 183.1; 2003, c. 15, s. 119 2026, c. 3, s. 80
Income Tax Act — I-3.3 183.2
Return 183.2 (1) Every corporation liable to pay tax under this Part for a taxation year shall, on or before the day on or before which it is required to file its return of income under Part I for the year, file with the Minister a return for the year under this Part in prescribed form. Provisions applicable to Part (2) Subsections 150(2) and 150(3), sections 152, 158 and 159, subsections 160.1(1) and 161(1) and 161(11), sections 162 to 167 and Division J of Part I are applicable to this Part with such modifications as the circumstances require. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1987, c. 46, s. 57
Income Tax Act — I-3.3 183.3
bsection (2), if the total of the amounts determined for A and B in subsection (2) for a taxation year is less than $1,000,000 (prorated based upon the number of days in the taxation year if the taxation year is less than 365 days), no tax is payable under this Part for the taxation year. Similar transactions (5) For the purposes of subsections (1) and (2), if a specified affiliate of a covered entity acquires equity of the covered entity, the equity is deemed to be acquired by the covered entity unless the specified affiliate is (a) a registered securities dealer that (i) acquires the equity in the capacity of an agent in the ordinary course of business, and (ii) disposes of the equity, other than to the covered entity or another specified affiliate of the covered entity, within a reasonable period of time that is consistent with the holding of equity in the ordinary course of business; (b) a trust established for the benefit of employees and former employees of the covered entity (or of a specified affiliate of the covered entity) that satisfies the following conditions (i) the trust is an employee benefit plan, and (ii) the terms of the trust provide that any equity of the covered entity acquired or held by the trust cannot be transferred to, or otherwise be available for the benefit of, the covered entity or any specified affiliate of the covered entity; (c) a trust governed by an employees profit sharing plan; or (d) a trust governed by a deferred profit sharing plan. Similar transactions — anti-avoidance (6) If it is reasonable to consider that one of the main purposes of a transaction (as defined in subsection 245(1)) or series of transactions is to cause a person or partnership to acquire equity of a covered entity to avoid the tax otherwise payable under this Part, the person or partnership shall be deemed to be a specified affiliate of the covered entity from the time that the transaction or series commenced until immediately after the time the transaction or series ends. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2024, c. 15, s. 53 2024, c. 17, s. 80 2026, c. 3, s. 81
Income Tax Act — I-3.3 (a)
covered entity for a taxation year, means an entity that is a corporation, trust or partnership if at any time in the taxation year (a) equity of the entity is listed on a designated stock exchange; and (b) the entity is (i) a corporation resident in Canada (other than a mutual fund corporation), (ii) a trust that (A) is a real estate investment trust (as defined in subsection 122.1(1)), (B) is a SIFT trust, or (C) would be a SIFT trust (other than a mutual fund trust that has one or more classes of units in continuous distribution) if (I) each reference in paragraph (a) of the definition non-portfolio property in subsection 122.1(1) to “subject entity” were read as “corporation, partnership or trust” and paragraph (c) of that definition were read without reference to the words “in Canada”, (II) paragraph (a) of the definition Canadian real, immovable or resource property in subsection 248(1) were read without reference to the words “situated in Canada”, and (III) the definitions timber resource property in subsection 13(21) and Canadian resource property in subsection 66(15) were read without references to the words “in Canada”, or (iii) a partnership that (A) is a SIFT partnership, or (B) would be a SIFT partnership if (I) each reference in paragraph (a) of the definition non-portfolio property in subsection 122.1(1) to “subject entity” were read as “corporation, partnership or trust” and paragraph (c) of that definition were read without reference to the words “in Canada”, (II) paragraph (a) of the definition Canadian real, immovable or resource property in subsection 248(1) were read without reference to the words “situated in Canada”, and (III) the definitions timber resource property in subsection 13(21) and Canadian resource property in subsection 66(15) were read without references to the words “in Canada”. ( entité visée )
Income Tax Act — I-3.3 (a)
equity of an entity, means, if the entity is (a) a corporation, a share of the capital stock of the corporation; (b) a trust, an income or capital interest in the trust; and (c) a partnership, an interest as a member of the partnership. ( capitaux propres )
Income Tax Act — I-3.3 (a)
qualifying issuance means any portion of an issuance that is made (a) in exchange for (i) cash, (ii) a bond, debenture, note or other security (other than equity) of the covered entity that was issued solely for cash consideration, or that was issued in an exchange described in paragraph (c), the terms of which confer on the holder the right to make the exchange, or (iii) any combination of properties described in subparagraph (i) or (ii); (b) to an employee of the covered entity (or an entity related to the covered entity) in the course of the employee’s employment; or (c) to a person or partnership, with which the covered entity deals at arm’s length and is not affiliated, in exchange for property used in an active business carried on by the covered entity or by a specified affiliate of the covered entity. ( émission admissible )
Income Tax Act — I-3.3 (a)
reorganization transaction means a redemption, acquisition or cancellation of equity by a covered entity that is made (a) on an exchange of equity by a holder for consideration that includes equity (other than substantive debt) of (i) the covered entity, (ii) another entity that is related to the covered entity immediately before the exchange and is a covered entity for its taxation year that includes the exchange, or (iii) another covered entity that controls the covered entity (or an amalgamated successor entity of the covered entity) immediately after the exchange; (b) on an amalgamation of the covered entity with one or more other predecessor corporations to which subsection 87(1) applies if a holder of that equity, immediately before the amalgamation, receives consideration that includes equity (other than substantive debt) of the new corporation (within the meaning of subsection 87(1)) for the disposition of their equity on the amalgamation; (b.1) on an amalgamation (as defined in subsection 87(1)) to which subsection 87(11) applies; (c) on a winding-up (i) of the covered entity during which all or substantially all of the property owned by the covered entity is distributed to the equity holders of the covered entity, or (ii) to which subsection 88(1) applies; (d) in the course of a reorganization to which paragraph 55(3)(a) or (b) applies; (e) on a qualifying disposition (as defined in subsection 107.4(1)); (f) on a qualifying exchange (as defined in subsection 132.2(1)); (g) at the demand of a holder in accordance with the conditions referred to in paragraph 108(2)(a), included in the issued units of the trust, for an amount that does not exceed the fair market value of the equity at the time of the redemption, acquisition or cancellation; (g.1) at the demand of a holder of the equity, in accordance with the conditions of the issued units of the trust, for an amount that does not exceed the portion of the net asset value (as defined in subsection 132(4)) of the trust attributable to that equity at the time of the redemption, acquisition or cancellation, if the covered entity is a trust that has one or more classes of units in continuous distribution; or (h) pursuant to the exercise of a statutory right of dissent by a holder of the equity. ( opération de réorganisation )
Income Tax Act — I-3.3 (a)
specified affiliate at any time, of a covered entity, means a corporation, trust or partnership (in this definition referred to as an “affiliate”) where, at that time, (a) if the affiliate is a corporation, the covered entity (i) controls the corporation, or (ii) has a direct or indirect interest in the equity of the corporation having a fair market value equal to more than 50% of the fair market value of the total equity of the corporation; (b) if the affiliate is a trust, the covered entity (i) is a majority-interest beneficiary (as defined in subsection 251.1(3)) of the trust, or (ii) has a direct or indirect interest in the equity of the trust having a fair market value equal to more than 50% of the fair market value of the total equity of the trust; and (c) if the affiliate is a partnership, the covered entity (i) is a majority-interest partner of the partnership, or (ii) has a direct or indirect interest in the equity of the partnership having a fair market value equal to more than 50% of the fair market value of the total equity of the partnership. ( entité affiliée déterminée )
Income Tax Act — I-3.3 (a)
substantive debt of a covered entity means equity that, in accordance with its terms (a) is not convertible or exchangeable other than for (i) equity that if issued would be substantive debt of the same covered entity, (ii) a bond, debenture or note of the covered entity, the fair market value of which does not exceed the total of the amounts referred to in subparagraphs (d)(i) to (iv), or (iii) equity that would be issued only after the occurrence of a trigger event pursuant to a non-viability contingent capital provision included in the terms of the equity to satisfy regulatory capital requirements applicable to the covered entity; (b) is non-voting in respect of the election of the board of directors, the trustees or the general partner (as applicable) of the covered entity, except in the event of a failure or default under the terms or conditions of the equity; (c) requires the amount of any dividend or other distribution payable to be calculated (i) as a fixed amount, or (ii) by reference to a percentage of an amount equal to the fair market value of the consideration for which the equity was issued if the percentage is (A) fixed, or (B) determined by reference to a market interest rate (including a Government of Canada Treasury Bill) plus a fixed amount, if any; and (d) entitles any holder of the equity to receive, on the redemption, cancellation or acquisition of the equity by the covered entity or by a person or partnership with whom the covered entity does not deal at arm’s length or is affiliated, an amount that does not exceed the total of the following amounts: (i) the fair market value of the consideration for which the equity was issued, (ii) any unpaid distributions or dividends on the equity that are payable to the holder, (iii) any premium that is payable to the holder solely due to the early redemption, cancellation or acquisition of the equity, and (iv) any other amount in respect of an amount described in subparagraphs (i) to (iii) that is attributable to an increase in the value of a currency other than Canadian currency relative to Canadian currency. ( dette substantielle )
Income Tax Act — I-3.3 183.4
Return 183.4 (1) If a covered entity redeems, acquires or cancels equity of the entity in a taxation year, (a) if the entity is a corporation, on or before the day it is required to file its return of income under Part I for the year, the corporation shall file with the Minister a return for the year under this Part in prescribed form; (b) if the entity is a trust, within 90 days after the end of the taxation year, the trustee of the trust shall file with the Minister a return for the year under this Part in prescribed form; and (c) if the entity is a partnership, every member of the partnership must — on or before the day on which a return is, or would be if the entity were a SIFT partnership, required to be filed for the year under section 229 of the Income Tax Regulations — file with the Minister a return for the year under this Part in prescribed form. Authority to file return for partnership (1.1) For the purposes of paragraph (1)(c), if, in respect of a taxation year of a partnership, a particular member of the partnership has authority to act for the partnership, (a) if the particular member has filed a return as required by this Part for the year, each other person who was a member of the partnership during the year is deemed to have filed the return; and (b) a return that has been filed by any other member of the partnership for the year is not valid and is deemed not to have been filed by any member of the partnership. Payment (2) Every covered entity that is liable to pay tax under this Part for a taxation year, shall (a) if the entity is a corporation or trust, pay its tax payable under this Part for the year to the Receiver General on or before its balance-due day for the year; and (b) if the entity is a partnership, pay its tax payable under this Part for the year to the Receiver General on or before the day which the partnership is required to file a return for the year under paragraph (1)(c). Provisions applicable to Part (3) Subsections 150(2) and (3), sections 152, 158 and 159, subsections 160.1(1) and 161(1) and (11), sections 162 to 167 and Division J of Part I are applicable to this Part with such modifications as the circumstances require. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2024, c. 15, s. 53 2026, c. 3, s. 82
Income Tax Act — I-3.3 184
er Part I, (a) subsection (4) does not apply to the election; and (b) the election is valid only if it is made on or before the day that is 30 months after the day on which the original dividend became payable. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 184; 1994, c. 7, Sch. II, s. 152; 2010, c. 25, s. 48; 2013, c. 34, s. 327
Income Tax Act — I-3.3 185.1
of an election made under subsection (2), is deemed by subsection (2) to have received a dividend at a particular time is also, at the particular time, a person all of whose taxable income is exempt from tax under Part I, (a) subsection (3) does not apply to the election; and (b) the election is valid only if it is made on or before the day that is 30 months after the day on which the original dividend was paid. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2007, c. 2, s. 51; 2010, c. 25, s. 49
Income Tax Act — I-3.3 186
 beneficial interest in one or more trusts or otherwise, by or for the benefit of an individual (other than a trust) or a related group of individuals (other than trusts). ( société assujettie ) Corporations connected with particular corporation (4) For the purposes of this Part, a payer corporation is connected with a particular corporation at any time in a taxation year (in this subsection referred to as the “particular year”) of the particular corporation if (a) the payer corporation is controlled (otherwise than by virtue of a right referred to in paragraph 251(5)(b)) by the particular corporation at that time; or (b) the particular corporation owned, at that time, (i) more than 10% of the issued share capital (having full voting rights under all circumstances) of the payer corporation, and (ii) shares of the capital stock of the payer corporation having a fair market value of more than 10% of the fair market value of all of the issued shares of the capital stock of the payer corporation. Deemed private corporation (5) A corporation that is at any time in a taxation year a subject corporation shall, for the purposes of paragraph 87(2)(aa) and section 129, be deemed to be a private corporation at that time, except that its non-eligible refundable dividend tax on hand (as defined in subsection 129(4)) at the end of the year shall be determined without reference to paragraph (a) of that definition. Partnerships (6) For the purposes of this Part, (a) all amounts received in a fiscal period by a partnership as, on account or in lieu of payment of, or in satisfaction of, taxable dividends shall be deemed to have been received by each member of the partnership in the member’s fiscal period or taxation year in which the partnership’s fiscal period ends, to the extent of that member’s share thereof; and (b) each member of a partnership shall be deemed to own at any time that proportion of the number of the shares of each class of the capital stock of a corporation that are property of the partnership at that time that the member’s share of all dividends received on those shares by the partnership in its fiscal period that includes that time is of the total of all those dividends. Interpretation (7) For greater certainty, where a provision of this Act or the regulations indicates that the term connected has the meaning assigned by subsection 186(4), that meaning shall be determined by taking into account the application of subsection 186(2) unless the provision expressly provides otherwise. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 186; 1994, c. 7, Sch. VIII, s. 110; 1996, c. 21, s. 48; 2001, c. 17, s. 164; 2003, c. 15, s. 120; 2005, c. 19, s. 41; 2006, c. 4, s. 83; 2013, c. 34, s. 75; 2016, c. 11, s. 8; 2018, c. 12, s. 29