Income Tax Act — I-3.3 248
 pension adjustment of a taxpayer for a calendar year in respect of an employer has the meaning assigned by regulation; ( facteur d’équivalence pour services passés ) pension adjustment of a taxpayer for a calendar year in respect of an employer has the meaning assigned by regulation; ( facteur d’équivalence ) person , or any word or expression descriptive of a person, includes any corporation, and any entity exempt, because of subsection 149(1), from tax under Part I on all or part of the entity’s taxable income and the heirs, executors, liquidators of a succession, administrators or other legal representatives of such a person, according to the law of that part of Canada to which the context extends; ( personne ) personal or living expenses includes (a) the expenses of properties maintained by any person for the use or benefit of the taxpayer or any person connected with the taxpayer by blood relationship, marriage or common-law partnership or adoption, and not maintained in connection with a business carried on for profit or with a reasonable expectation of profit, (b) the expenses, premiums or other costs of a policy of insurance, annuity contract or other like contract if the proceeds of the policy or contract are payable to or for the benefit of the taxpayer or a person connected with the taxpayer by blood relationship, marriage or common-law partnership or adoption, and (c) expenses of properties maintained by an estate or trust for the benefit of the taxpayer as one of the beneficiaries; ( frais personnels ou de subsistance ) personal services business has the meaning assigned by subsection 125(7); ( entreprise de prestation de services personnels ) personal trust means a trust (other than a trust that is, or was at any time after 1999, a unit trust) that is (a) a graduated rate estate, or (b) a trust in which no beneficial interest was acquired for consideration payable directly or indirectly to (i) the trust, or (ii) any person or partnership that has made a contribution to the trust by way of transfer, assignment or other disposition of property; ( fiducie personnelle ) personal-use property has the meaning assigned by section 54; ( biens à usage personnel ) pooled pension plan has the same meaning as in subsection 147.5(1); ( régime de pension collectif ) pooled registered pension plan or PRPP has the same meaning as in subsection 147.5(1); ( régime de pension agréé collectif ou RPAC ) post-1971 spousal or common-law partner trust means a trust that would be described in paragraph 104(4)(a) if that paragraph were read without reference to subparagraph 104(4)(a)(iv); ( fiducie au profit de l’époux ou du conjoint de fait postérieure à 1971 ) preferred share means a share other than a common share; ( action privilégiée ) prescribed means (a) in the case of a form, the information to be given on a form or the manner of filing a form, authorized by the Minister, (a.1) in the case of the manner of making or filing an election, authorized by the Minister, and (b) in any other case, prescribed by regulation or determined in accordance with rules prescribed by regulation; ( prescrit ) principal amount , in relation to any obligation, means the amount that, under the terms of the obligation or any agreement relating thereto, is the maximum amount or maximum total amount, as the case may be, payable on account of the obligation by the issuer thereof, otherwise than as or on account of interest or as or on account of any premium payable by the issuer conditional on the exercise by the issuer of a right to redeem the obligation before the maturity thereof; ( principal ) private corporation has the meaning assigned by subsection 89(1); ( société privée ) private foundation has the meaning assigned by section 149.1; ( fondation privée ) private health services plan means (a) a contract of insurance in respect of hospital expenses, medical expenses or any combination of such expenses, or (b) a medical care insurance plan or hospit