GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
eligible group entity , in respect of a taxpayer resident in Canada, at any time, means a corporation, or a trust, resident in Canada (a) that is, at that time, related (other than because of a right referred to in paragraph 251(5)(b)) to the taxpayer; (b) that would, at that time, be affiliated with the taxpayer if section 251.1 were read without reference to the definition controlled in subsection 251.1(3); (c) that is a trust in respect of which the taxpayer’s interest in the trust is not a fixed interest (as defined in subsection 94(1)); or (d) that is a beneficiary of the taxpayer, if the taxpayer is a trust, whose interest in the taxpayer is not a fixed interest (as defined in subsection 94(1)) (other than a beneficiary that is a registered charity, or a non-profit organization, with whom the taxpayer deals at arm’s length). ( entité admissible du groupe )
Income Tax Act — I-3.3 (a)
excess capacity of a taxpayer for a taxation year means (a) if subsection 18.21(2) applies in respect of the taxpayer for the year, nil; and (b) in any other case, the amount determined by the formula A − B − C where A is the amount determined by the formula D × E + F where D is the ratio of permissible expenses of the taxpayer for the year, E is the adjusted taxable income of the taxpayer for the year, and F is the amount determined by the formula G − H × I where G is the interest and financing revenues of the taxpayer for the year, H is the ratio of permissible expenses of the taxpayer for the year, and I is the lesser of (i) the amount by which the interest and financing revenues of the taxpayer for the year exceed the interest and financing expenses of the taxpayer for the year, and (ii) either (A) if the adjusted taxable income of the taxpayer for the year would, in the absence of section 257, be a negative amount, the absolute value of the negative amount, or (B) in any other case, nil, B is the interest and financing expenses of the taxpayer for the year, and C is the amount deductible by the taxpayer under paragraph 111(1)(a.1) in the year. ( capacité excédentaire )
Income Tax Act — I-3.3 (a)
 interests in which can reasonably be considered to be held, directly or indirectly through one or more trusts or partnerships, by non-resident persons, if the property of the partnership includes, (I) if the taxpayer or the eligible group entity in respect of the taxpayer is a corporation, shares, or a right to acquire shares, of the capital stock of the taxpayer or an eligible group entity in respect of the taxpayer that, either alone or together with shares, or rights to acquire shares, held by persons or partnerships with whom the partnership does not deal at arm’s length, 1 provide 25% or more of the votes that could be cast at an annual meeting of the shareholders of the corporation, or 2 have 25% or more of the fair market value of all capital stock in the corporation, or (II) if the taxpayer or the eligible group entity in respect of the taxpayer is a trust, an interest, or a right to acquire an interest, as a beneficiary in the taxpayer or an eligible group entity in respect of the taxpayer that, either alone or together with interests, or rights to acquire interests, held by persons or partnerships with whom the partnership does not deal at arm’s length, has 25% or more of the fair market value of all interests as a beneficiary in the trust, and (iv) all or substantially all of the interest and financing expenses of the taxpayer and of each eligible group entity in respect of the taxpayer for the particular year are paid or payable to persons or partnerships that are not, at any time in the particular year, tax-indifferent persons or partnerships that do not deal at arm’s length with the taxpayer or any eligible group entity in respect of the taxpayer. ( entité exclue )
Income Tax Act — I-3.3 (a)
excluded interest , for a taxation year or fiscal period, means an amount of interest or a lease financing amount, if (a) the amount is paid in, or payable in or in respect of, the year or period by a corporation or partnership (in this definition referred to as the “payer”) to another corporation or partnership (in this definition referred to as the “payee”) in respect of a debt or a lease in respect of a particular property; (b) throughout the period during which the amount accrued (in this definition referred to as the “relevant period”) (i) if the amount is interest, the debt is owed by the payer to the payee, or (ii) if the amount is a lease financing amount, the lease is between the payer and payee; (c) where the payee is a financial institution group entity, the payer (i) is a financial institution group entity, or (ii) would be a special purpose loss corporation, if the reference to “financial holding corporation” in paragraph (a) of the definition special purpose loss corporation were read as a reference to “financial institution group entity”; (d) throughout the relevant period and at the time of payment (i) each of the payer and payee is (A) a taxable Canadian corporation, or (B) a partnership, no member of which is a natural person, a trust or a corporation that is not a taxable Canadian corporation, and (ii) one of the following conditions is met: (A) if the payee is a partnership, all the members of the payee (other than another partnership) are eligible group entities in respect of (I) if the payer is a partnership, each member of the payer (other than another partnership), and (II) in any other case, the payer, or (B) if the payee is not a partnership, the payee is an eligible group entity in respect of (I) if the payer is a partnership, each member of the payer (other than another partnership), and (II) in any other case, the payer; and (e) the payer — or, if the payer is a partnership, each member of the payer — and the payee — or, if the payee is a partnership, each member of the payee — file with the Minister, in respect of the year or period of both the payer and the payee, a joint election in writing in prescribed manner under this paragraph that (i) specifies (A) the amount of the interest or lease financing amount, (B) if the amount is interest, the amounts outstanding, at the beginning and end of the relevant period, as or on account of the debt in respect of which this paragraph applies, and (C) if the amount is a lease financing amount, the fair market value of the particular property at the time the lease began, and (ii) is filed on or before the earliest of the filing-due date of (A) the payer for its year, (B) the payee for its year, and (C) if the payer or the payee is a partnership, any member of the payer or payee for the member’s taxation year that includes the end of the fiscal period of the payer or the payee, as the case may be. ( intérêts exclus )
Income Tax Act — I-3.3 (a)
excluded lease for a taxation year of a taxpayer means a lease (a) to which the rules in subsection 16.1(1) apply; (b) that would not be considered to be a lease for a term of more than one year for purposes of paragraph (b) of the definition specified leasing property in subsection 1100(1.11) of the Income Tax Regulations ; or (c) that is in respect of property (i) that would not be considered, at the time the lease was entered into, to have a fair market value in excess of $25,000 for purposes of paragraph (c) of that definition, or (ii) that would be considered, at all times in the taxation year, exempt property for purposes of subsection 1100(1.13) of the Income Tax Regulations . ( bail exclu )
Income Tax Act — I-3.3 (a)
exempt interest and financing expenses of a taxpayer for a taxation year means the total of all amounts, each of which would, if the description of A in the definition interest and financing expenses were read without reference to “exempt interest and financing expenses”, be included in interest and financing expenses of the taxpayer for that year, and that is incurred in respect of a borrowing or other financing (referred to in this definition as the “borrowing”), if (a) the taxpayer or a partnership of which the taxpayer is a member entered into an agreement with a public sector authority to design, build and finance — or to design, build, finance, maintain and operate — property that the public sector authority, or another public sector authority, owns or has a leasehold interest in or right to acquire; (b) the borrowing was entered into in respect of the agreement; (c) it can reasonably be considered that all or substantially all of the amount is directly or indirectly borne by a public sector authority referred to in paragraph (a); and (d) the amount was paid or payable to (i) a person that deals at arm’s length with the taxpayer or the partnership of which the taxpayer is a member, or (ii) a particular person that does not deal at arm’s length with the taxpayer or the partnership of which the taxpayer is a member if it may reasonably be considered that all or substantially all of the amount paid or payable to the particular person was paid or payable by the particular person to one or more persons that deal at arm’s length with the taxpayer or the partnership of which the taxpayer is a member. ( dépenses d’intérêts et de financement exonérées )
Income Tax Act — I-3.3 (a)
financial holding corporation , for a taxation year, means a corporation (other than a corporation described in any of paragraphs (a) to (f) of the definition financial institution group entity ) if, throughout the year, (a) the fair market value of the capital stock of the corporation is primarily attributable to any combination of shares or indebtedness of one or more entities described in any of paragraphs (a) to (f) of the definition financial institution group entity that are controlled by the corporation; or (b) the corporation is incorporated under the Insurance Companies Act and shares of the capital stock of the corporation are listed on a designated stock exchange. ( société de portefeuille financière )
Income Tax Act — I-3.3 (a)
financial institution group entity means a taxpayer that at any time in a taxation year is (a) a bank; (b) a credit union; (c) an insurance corporation; (d) an entity authorized under the laws of Canada or a province to carry on the business of offering its services as a trustee to the public; (e) an entity whose principal business consists of one or more of (i) the lending of money to persons with whom the entity deals at arm’s length, (ii) the purchasing of debt obligations issued by persons with whom the entity deals at arm’s length, or (iii) activities which principally give rise to amounts described in paragraphs (a) to (d) of the description of A in the definition interest and financing revenues and are principally conducted with persons with whom the entity deals at arm’s length; (f) a particular entity that is an eligible group entity in respect of an entity described in any of paragraphs (a) to (e), if the particular entity, or a partnership of which the particular entity is a member and from which the particular entity primarily derives its income, (i) is authorized under provincial securities laws to engage in, and primarily engages in, the business of (A) dealing in securities, or (B) providing portfolio management, investment advice, fund administration or fund management; or (ii) primarily engages in the business of providing portfolio management, investment advice, fund administration or fund management, including any services connected to those activities, in respect of real estate; or (g) a particular entity (other than a financial holding corporation) that is an eligible group entity in respect of any entity described in any of paragraphs (a) to (f) if all or substantially all of the activities of the particular entity are ancillary to the activities or business carried on by one or more entities described in paragraphs (a) to (f) that are eligible group entities in respect of the particular entity. ( entité du groupe d’institutions financières )
Income Tax Act — I-3.3 (a)
fixed interest commercial trust at any time means a trust resident in Canada, if at that time (a) the only beneficiaries that may for any reason receive, at or after that time and directly from the trust, any of the income or capital of the trust are beneficiaries that hold fixed interests (as defined in subsection 94(1)) in the trust; and (b) any of the conditions set out in clauses (h)(ii)(A) to (C) in the definition exempt foreign trust in subsection 94(1) is met. ( fiducie commerciale à participation fixe )
Income Tax Act — I-3.3
foreign accrual property loss of a foreign affiliate for an affiliate taxation year has the meaning assigned by subsection 5903(3) of the Income Tax Regulations . ( perte étrangère accumulée, relative à des biens )
Income Tax Act — I-3.3 (a)
 financing of the taxpayer or of a person or partnership that does not deal at arm’s length with the taxpayer to hedge the cost of funding or the borrowing or other financing, (iii) the amount can reasonably be considered to reduce the cost of funding with respect to the borrowing or other financing of the taxpayer or a person or partnership that does not deal at arm’s length with the taxpayer, and (iv) the amount cannot reasonably be considered to be excluded, reduced, offset or otherwise effectively sheltered from tax under this Part because (A) an amount is deductible under any of subsections 20(11) to (12.1) and 126(1) and (2), and (B) an amount is deductible in respect of income or profits tax paid to a country other than Canada that (I) can reasonably be considered to have been paid in respect of the amount, and (II) is not a tax substantially similar to tax under subsection 212(1), or (b) in respect of the income or loss of a partnership, for a fiscal period that ends in the particular year, from any source or from sources in a particular place, an amount determined by the formula I × J where I is an amount that would be described in paragraph (a) if (i) the references to the taxpayer in that paragraph were read as references to the partnership, and (ii) the reference in subparagraph (a)(i) to “the taxpayer’s income for the particular year” were read as “the partnership’s income or loss from the source, or the source in a particular place, for a fiscal period”, and J is the taxpayer’s specified proportion, if the references in the definition specified proportion in subsection 248(1) to “total income or loss” were read as “income or loss from the source, or the source in a particular place”. ( dépenses d’intérêts et de financement )
Income Tax Act — I-3.3 (a)
lease financing amount means an amount that is the portion of a particular payment in respect of a particular lease entered into by a taxpayer that would be considered to be on account of interest if (a) the lessee had received a loan at the time the particular lease began and in a principal amount equal to the fair market value at that time of the property that is the subject of the particular lease; (b) interest had been charged on the principal amount of the loan outstanding from time to time at the rate — determined in accordance with section 4302 of the Income Tax Regulations — in effect at the time described in paragraph (a), compounded semi-annually not in advance; and (c) the particular payment was a blended payment of principal and interest, calculated in accordance with paragraph (b), on the loan applied firstly on account of interest on principal, secondly on account of interest on unpaid interest and thirdly on account of principal. ( montant du crédit-bail )
Income Tax Act — I-3.3
public sector authority means His Majesty in right of Canada, His Majesty in right of a province, an entity referred to in any of paragraphs 149(1)(c) to (d.6), a hospital authority (as defined in subsection 123(1) of the Excise Tax Act ) or a registered charity that is a public college , school authority or university (each as defined in subsection 123(1) of the Excise Tax Act ). ( administration du secteur public )
Income Tax Act — I-3.3 (a)
ratio of permissible expenses of a taxpayer for a taxation year means the percentage that is (a) if the taxpayer’s taxation year begins on or after October 1, 2023, and before January 1, 2024, 40%, other than for the purpose of determining the taxpayer’s cumulative unused excess capacity for any taxation year that begins on or after January 1, 2024; and (b) if the taxpayer’s taxation year begins on or after January 1, 2024, and for the purposes referred to in paragraph (a) for which 40% is not the applicable percentage, 30%. ( ratio des dépenses admissibles )
Income Tax Act — I-3.3
received capacity means an amount of received capacity of a transferee for a taxation year as determined under subsection (4). ( capacité reçue )
Income Tax Act — I-3.3 (a)
relevant affiliate interest and financing expenses of a controlled foreign affiliate of a taxpayer (determined as though the definition taxpayer in this subsection did not include the words “or a partnership”) for an affiliate taxation year means, subject to subsection (19), the total of all amounts (other than an amount that is deductible in computing any income or loss of the affiliate that is included in computing the affiliate’s income or loss from an active business because of paragraph 95(2)(a) or an amount that is described in clause 95(2)(a)(ii)(D) and treated as nil for the purposes of determining an amount for A or D in the definition foreign accrual property income in subsection 95(1)), each of which would be the affiliate’s interest and financing expenses (determined without regard to paragraph (j) of the description of A in the definition interest and financing expenses ) for the affiliate taxation year for the purposes of determining, in respect of the taxpayer for the affiliate taxation year, each amount referred to in subparagraph 95(2)(f)(i) or (ii), if (a) the references in the definition interest and financing expenses to “in the absence of this section” were read as references to “in the absence of clause 95(2)(f.11)(ii)(D)”; and (b) clause 95(2)(f.11)(ii)(A) were read without regard to the reference to subsection 18.2(2). ( dépenses d’intérêts et de financement de la société affiliée pertinentes )
Income Tax Act — I-3.3
relevant affiliate interest and financing revenues of a controlled foreign affiliate of a taxpayer (determined as though the definition taxpayer in this subsection did not include the words “or a partnership”) for an affiliate taxation year means, subject to subsection (19), the total of all amounts (other than an amount included in computing the affiliate’s income or loss from an active business under paragraph 95(2)(a) or (2.44)(b)), each of which would be the affiliate’s interest and financing revenues (determined without regard to paragraph (g) of the description of A in the definition interest and financing revenues ) for the affiliate taxation year for the purposes of determining, in respect of the taxpayer for the affiliate taxation year, each amount referred to in subparagraph 95(2)(f)(i) or (ii), if clause 95(2)(f.11)(ii)(A) were read without regard to the reference to subsection 18.2(2). ( revenus d’intérêts et de financement de la société affiliée pertinents )
Income Tax Act — I-3.3 (a)
relevant inter-affiliate interest , of a controlled foreign affiliate of a taxpayer for an affiliate taxation year, means an amount of interest to the extent that the amount (a) is paid or payable by the affiliate to, or received or receivable by the affiliate from, a controlled foreign affiliate (in this definition referred to as the “other affiliate”) of (i) the taxpayer, or (ii) a taxpayer that is an eligible group entity in respect of the taxpayer; and (b) would, in the absence of subsection (19), be included in (i) if the amount is paid or payable by the affiliate, the affiliate’s relevant affiliate interest and financing expenses for the affiliate taxation year and the other affiliate’s relevant affiliate interest and financing revenues for an affiliate taxation year, or (ii) if the amount is received or receivable by the affiliate, the affiliate’s relevant affiliate interest and financing revenues for the affiliate taxation year and the other affiliate’s relevant affiliate interest and financing expenses for an affiliate taxation year. ( intérêts pertinents entre sociétés affiliées )
Income Tax Act — I-3.3 (a)
special purpose loss corporation , for a taxation year, means a particular corporation that (a) is an eligible group entity in respect of a financial holding corporation to which the particular corporation has interest paid or payable in the year; (b) is formed or exists solely for the purpose of generating a loss of the particular corporation from the interest; and (c) would, in the absence of this section, have a loss for the year resulting from the interest that is, or will be, utilized exclusively by a financial institution group entity that is an eligible group entity in respect of the particular corporation. ( société à usage déterminé ayant subi des pertes )
Income Tax Act — I-3.3 (a)
specified participating percentage of a taxpayer, in respect of a controlled foreign affiliate of the taxpayer for an affiliate taxation year, means the percentage that would be the taxpayer’s aggregate participating percentage (as defined in subsection 91(1.3)), determined without regard to clause 95(2)(f.11)(ii)(D), in respect of the affiliate for the affiliate taxation year, if the definition participating percentage in subsection 95(1) were read without reference to (a) its paragraph (a); and (b) the portion of its paragraph (b) before its subparagraph (b)(i). ( pourcentage de participation déterminé )
Income Tax Act — I-3.3 (a)
specified pre-regime loss of a taxpayer, in respect of a taxation year, means the taxpayer’s non-capital loss for a preceding taxation year, if (a) the preceding year ends before February 4, 2022; (b) the taxpayer files with the Minister, in respect of the loss, an election in writing in prescribed manner under this definition; (c) the election specifies (i) the loss, (ii) each amount deducted, in respect of the loss, by the taxpayer under paragraph 111(1)(a) in computing its taxable income (A) for the year, and (B) each taxation year that precedes the year, and (iii) the taxpayer’s adjusted taxable income for the year; and (d) the election is filed on or before the filing-due date of the taxpayer for the year. ( perte antérieure au régime déterminée )
Income Tax Act — I-3.3 (a)
tax-indifferent means a person or partnership that is (a) a person exempt from tax under section 149; (b) a non-resident person; (c) a partnership more than 50% of the fair market value of all interests in which can reasonably be considered to be held, directly or indirectly through one or more trusts or partnerships, by any combination of persons described in paragraph (a) or (b); or (d) a trust resident in Canada if more than 50% of the fair market value of all interests as beneficiaries under the trust can reasonably be considered to be held, directly or indirectly through one or more trusts or partnerships, by any combination of persons described in paragraph (a) or (b). ( indifférent relativement à l’impôt )
Income Tax Act — I-3.3
taxpayer has the meaning assigned by subsection 248(1), but does not include a natural person or a partnership. ( contribuable )
Income Tax Act — I-3.3
transaction includes an arrangement or event. ( opération )
Income Tax Act — I-3.3
transferred capacity means an amount of transferred capacity of a transferor for a taxation year as determined under subsection (4). ( capacité transférée )