GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
eligible refundable dividend tax on hand , of a particular corporation at the end of a taxation year, means the amount, if any, by which the total of (a) the total of the taxes payable under Part IV by the particular corporation for the year in respect of (i) eligible dividends received by the particular corporation in the year from corporations other than corporations with which the particular corporation is connected (in this paragraph, within the meaning assigned by subsection 186(4) on the assumption that the other corporation is at that time a payer corporation within the meaning of that subsection), (ii) taxable dividends received by the particular corporation in the year from corporations that are connected with the particular corporation to the extent that such dividends caused a dividend refund to those corporations from their eligible refundable dividend tax on hand, and (iii) eligible dividends received by the particular corporation in a taxation year that began after 2018 from corporations (referred to in this subparagraph as “payer corporations”) that are connected with the particular corporation to the extent that such dividends (A) caused a dividend refund to those payer corporations from their refundable dividend tax on hand at the end of their first taxation year that ended after 2018, and (B) are not otherwise included in determining the particular corporation’s eligible refundable dividend tax on hand, and (b) where the particular corporation was a private corporation at the end of its preceding taxation year, the particular corporation’s eligible refundable dividend tax on hand at the end of that preceding year exceeds (c) the total of all amounts each of which is the portion, if any, of the particular corporation’s dividend refund from its eligible refundable dividend tax on hand determined, for its preceding taxation year, under (i) subparagraph (1)(a)(i), and (ii) clause (1)(a)(ii)(B). ( impôt en main remboursable au titre de dividendes déterminés )
Income Tax Act — I-3.3 (a)
foreign investment income of a corporation for a taxation year is the amount that would be its aggregate investment income for the year if (a) every amount of its income, loss, capital gain or capital loss for the year that can reasonably be regarded as being from a source in Canada were nil, (b) no amount were deducted under paragraph 111(1)(b) in computing its taxable income for the year, and (c) this Act were read without reference to paragraph (a) of the definition income or loss in this subsection. ( revenu de placement étranger )
Income Tax Act — I-3.3 (a)
income or loss of a corporation for a taxation year from a source that is a property (a) includes the income or loss from a specified investment business carried on by it in Canada other than income or loss from a source outside Canada, but (b) does not include (i) the income or loss from any property that is incident to or pertains to an active business carried on by it, (ii) the income or loss from any property that is used or held principally for the purpose of gaining or producing income from an active business carried on by it, or (iii) for each election made for the year under subsection 93.4(2) by the corporation or by a partnership of which the corporation is a member (or of which the corporation is deemed to be a member under subsection 93.1(3)), (A) the portion of the FABI amount (within the meaning of subsection 93.4(2)(a)) in respect of the election that is included in computing the corporation’s income under subsection 91(1) for the year or, if the election was made by a partnership of which the corporation is a member, the portion of the FABI amount included in the partnership’s income under subsection 91(1) that is included in the corporation’s income for the year in accordance with subsection 96(1), or (B) the portion of the amount deducted under subsection 91(4) that is determined under subparagraph 93.4(2)(b)(i) to be in respect of the FABI amount to which the election relates. ( revenu ou perte )
Income Tax Act — I-3.3 (a)
non-eligible refundable dividend tax on hand , of a corporation at the end of a taxation year, means the amount, if any, by which the total of (a) if the corporation was a Canadian-controlled private corporation throughout the year or a substantive CCPC at any time in the year, the least of (i) the amount determined by the formula A − B where A is 30 2/3% of the corporation’s aggregate investment income for the year, and B is the amount, if any, by which (A) the amount deducted under subsection 126(1) from the tax for the year otherwise payable by it under this Part exceeds (B) 8% of its foreign investment income for the year, (ii) 30 2/3% of the amount, if any, by which the corporation’s taxable income for the year exceeds the total of (A) the least of the amounts determined under paragraphs 125(1)(a) to (c) in respect of the corporation for the year, (B) 100/(38 2/3) of the total of amounts deducted under subsection 126(1) from its tax for the year otherwise payable under this Part, and (C) the amount determined by multiplying the total of amounts deducted under subsection 126(2) from its tax for the year otherwise payable under this Part, by the relevant factor for the year, and (iii) the corporation’s tax for the year payable under this Part, (b) the total of the taxes payable under Part IV by the corporation for the year less the amount determined under paragraph (a) of the definition eligible refundable dividend tax on hand in respect of the corporation for the year, and (c) if the corporation was a private corporation at the end of its preceding taxation year, the corporation’s non-eligible refundable dividend tax on hand at the end of that preceding year exceeds (d) the portion, if any, of the corporation’s dividend refund from its non-eligible refundable dividend tax on hand determined, for its preceding taxation year, under clause (1)(a)(ii)(A). ( impôt en main remboursable au titre de dividendes non déterminés )
Income Tax Act — I-3.3 130
been sold before the end of the year) was distributed, otherwise than by way of capital gains dividends, to its shareholders before the end of the year; and (b) the amount of the taxed capital gains of a taxpayer for a taxation year is the amount, if any, by which (i) its taxable capital gains for the year from dispositions of property exceeds (ii) the total of its allowable capital losses for the year from dispositions of property and the amount, if any, deducted under paragraph 111(1)(b) for the purpose of computing its taxable income for the year. Wholly owned subsidiaries (4) Where a corporation so elects in its return of income under this Part for a taxation year, each of the corporation’s properties that is a share or indebtedness of another Canadian corporation that is at any time in the year a subsidiary wholly owned corporation of the corporation shall, for the purposes of subparagraphs 130(3)(a)(ii) and (vi), be deemed not to be owned by the corporation at any such time in the year, and each property owned by the other corporation at that time shall, for the purposes of those subparagraphs, be deemed to be owned by the corporation 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. 130; 1994, c. 7, Sch. II, s. 109, Sch. VIII, s. 74; 1998, c. 19, s. 155; 1999, c. 22, s. 92; 2000, c. 12, s. 142; 2013, c. 34, s. 371; 2016, c. 12, s. 47
Income Tax Act — I-3.3
“ specified shareholder of a corporation in a taxation year means a taxpayer who owns, directly or indirectly, at any time in the year, more than 25% of the issued shares of any class of the capital stock of the corporation and, for the purposes of this definition,”
Income Tax Act — I-3.3 “(a)
“(a) a taxpayer is deemed to own each share of the capital stock of a corporation owned at that time by a person related to the taxpayer,”
Income Tax Act — I-3.3 130.1
 are held shall be counted as four shareholders of the corporation for the purpose of determining the number of shareholders of the corporation, but as one shareholder for the purpose of determining whether any person is a specified shareholder (as defined for the purpose of that paragraph). First taxation year (8) For the purposes of subsection 130.1(6), a corporation that was incorporated after 1971 shall be deemed to have complied with paragraph 130.1(6)(d) throughout the first taxation year of the corporation in which it carried on business if it complied with that paragraph on the last day of that taxation year. Definitions (9) In this section, liabilities of a corporation at any particular time means the total of all debts owing by the corporation, and all other obligations of the corporation to pay an amount, that were outstanding at that time; ( passif ) non-qualifying real property [Repealed, 1995, c. 3, s. 40(2)] non-qualifying taxed capital gains [Repealed, 1995, c. 3, s. 40(2)] qualifying taxed capital gains [Repealed, 1995, c. 3, s. 40(2)] taxed capital gains has the meaning assigned by paragraph 130(3)(b). ( gains en capital imposés ) [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 130.1; 1994, c. 7, Sch. VIII, s. 75; 1995, c. 3, s. 40; 1998, c. 19, s. 156; 1999, c. 22, s. 53; 2000, c. 12, s. 142; 2001, c. 17, ss. 127, 214(E); 2013, c. 34, ss. 131, 276
Income Tax Act — I-3.3
“ specified shareholder of a corporation at any time means a taxpayer who owns, directly or indirectly, at that time, more than 25% of the issued shares of any class of the capital stock of the corporation and, for the purposes of this definition,”
Income Tax Act — I-3.3
liabilities of a corporation at any particular time means the total of all debts owing by the corporation, and all other obligations of the corporation to pay an amount, that were outstanding at that time; ( passif )
Income Tax Act — I-3.3
non-qualifying real property [Repealed, 1995, c. 3, s. 40(2)]
Income Tax Act — I-3.3
non-qualifying taxed capital gains [Repealed, 1995, c. 3, s. 40(2)]
Income Tax Act — I-3.3
qualifying taxed capital gains [Repealed, 1995, c. 3, s. 40(2)]
Income Tax Act — I-3.3
taxed capital gains has the meaning assigned by paragraph 130(3)(b). ( gains en capital imposés )
Income Tax Act — I-3.3 131
 so determined that the number of days in that portion of the year that is before 1973 is of the number of days in the whole year, and (ii) 100% of that proportion of the amount so determined that the number of days in that portion of the year that is after 1972 is of the number of days in the whole year. Restricted financial institution (10) Notwithstanding any other provision of this Act, a mutual fund corporation or an investment corporation that at any time would, but for this subsection, be a restricted financial institution shall, if it has so elected in prescribed manner and prescribed form before that time, be deemed not to be a restricted financial institution at that time. Rules respecting prescribed labour-sponsored venture capital corporations (11) Notwithstanding any other provision of this Act, in applying this Act to a corporation that was at any time a prescribed labour-sponsored venture capital corporation, (a) for the purposes of subparagraphs (a)(i) and (ii) of the definition non-eligible refundable dividend tax on hand in subsection 129(4), the amount deducted under paragraph 111(1)(b) from the corporation’s income for each taxation year ending after that time shall be deemed to be nil; (b) the definition aggregate investment income in subsection 129(4) shall be read without reference to paragraph (a) of that definition in its application to taxation years that end after that time; (c) notwithstanding subsection 131(4), if it so elects in its return of income under this Part for a taxation year ending after that time, subsection 84(1) applies for that year and all subsequent taxation years; (d) subsection 131(5) does not apply for taxation years ending after that time; and (e) the amount of the corporation’s capital dividend account at any time after that time 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. 131; 1994, c. 7, Sch. II, s. 110, Sch. VIII, s. 76, c. 21, s. 63; 1995, c. 3, s. 41, c. 21, s. 67; 1996, c. 21, s. 33; 1998, c. 19, s. 157; 2001, c. 17, s. 128; 2003, c. 15, s. 112; 2005, c. 19, s. 30; 2010, c. 25, s. 30; 2013, c. 34, ss. 132, 277; 2016, c. 12, s. 48; 2018, c. 12, s. 23 2024, c. 17, s. 47 2026, c. 3, s. 62
Income Tax Act — I-3.3 (a)
capital gains dividend account of a mutual fund corporation at any time means the amount, if any, by which (a) the total of (i) its capital gains, for all taxation years that began more than 60 days before that time, from dispositions of property after 1971 and before that time while it was a mutual fund corporation, and (ii) all amounts each of which is an amount in respect of a distribution made by a trust to the corporation, at a time that is after its 2004 taxation year and at which it is a mutual fund corporation, in respect of capital gains of the trust equal to twice the amount determined by the following formula: A – B where A is the amount of the distribution, and B is the amount designated under subsection 104(21) by the trust in respect of the net taxable capital gains of the trust attributable to those capital gains exceeds (b) the total of (i) its capital losses, for all taxation years that began more than 60 days before that time, from dispositions of property after 1971 and before that time while it was a mutual fund corporation, (ii) all capital gains dividends that became payable by the corporation before that time and more than 60 days after the end of the last taxation year that ended more than 60 days before that time, and (iii) an amount equal to 100/14 of its capital gains refund for any taxation year throughout which it was a mutual fund corporation where the year ended more than 60 days before that time; ( compte de dividendes sur les gains en capital )
Income Tax Act — I-3.3 (a)
capital gains redemptions of a mutual fund corporation for a taxation year means the amount determined by the formula A/B × (C + D) where A is the sum of (a) the total of all amounts paid by the corporation in the year on the redemption of shares of its capital stock, and (b) the total of all amounts each of which is an amount equal to the fair market value of the shares of the corporation’s capital stock that were exchanged in the year for other shares of the corporation’s capital stock if (i) paragraph (4.1) applies to the exchange, and (ii) the amount is not included in the amount determined for paragraph (a), B is the total of the fair market value at the end of the year of all the issued shares of its capital stock and the amount determined for A in respect of the corporation for the year, C is 100/14 of the corporation’s refundable capital gains tax on hand at the end of the year, and D is the amount determined by the formula (K + L) - (M + N) where K is the amount of the fair market value at the end of the year of all the issued shares of the corporation’s capital stock, L is the total of all amounts each of which is the amount of any debt owing by the corporation, or of any other obligation of the corporation to pay an amount, that was outstanding at that time, M is the total of the cost amounts to the corporation at that time of all its properties, and N is the amount of any money of the corporation on hand at that time; ( rachats au titre des gains en capital )
Income Tax Act — I-3.3
non-qualifying real property [Repealed, 1995, c. 3, s. 41]
Income Tax Act — I-3.3
non-qualifying real property capital gains dividend account [Repealed, 1995, c. 3, s. 41]
Income Tax Act — I-3.3
pro rata portion , of a shareholder at any time, of a mutual fund corporation’s TCP gains balance, in respect of a dividend paid by the mutual fund corporation on a class of shares of its capital stock, means the amount determined by the formula A x B/C where A is the mutual fund corporation’s TCP gains balance immediately before that time, B is the amount received in respect of the dividend by the shareholder, and C is the total amount of the dividend; ( partie proportionnelle )
Income Tax Act — I-3.3 (a)
refundable capital gains tax on hand of a mutual fund corporation at the end of a taxation year means the amount determined by the formula A - B where A is the total of all amounts each of which is an amount in respect of that or any previous taxation year throughout which the corporation was a mutual fund corporation, equal to the least of (a) 28% of its taxable income for the year, (b) 28% of its taxed capital gains for the year, and (c) the tax payable by it under this Part for the year determined without reference to section 123.2, and B is the total of all amounts each of which is an amount in respect of any previous taxation year throughout which the corporation was a mutual fund corporation, equal to its capital gains refund for the year; ( impôt en main remboursable au titre des gains en capital )
Income Tax Act — I-3.3 (a)
TCP gains balance , of a mutual fund corporation at any time, means the amount, if any, by which (a) the total of (i) the mutual fund corporation’s capital gains from dispositions, after March 22, 2004 and at or before that time, of taxable Canadian properties, and (ii) the TCP gains distributions (including those defined in section 132) received by the mutual fund corporation at or before that time exceeds (b) the total of (i) the mutual fund corporation’s capital losses from dispositions, after March 22, 2004 and at or before that time, of taxable Canadian properties, and (ii) the total of all amounts deemed, in respect of dividends paid by the mutual fund corporation before that time, to be TCP gains distributions received by shareholders from the mutual fund corporation; ( solde des gains provenant de BCI )
Income Tax Act — I-3.3
TCP gains distribution means a TCP gains distribution described in subsection (5.1). ( distribution de gains provenant de BCI )
Income Tax Act — I-3.3 132
 this subsection, have ceased to be a mutual fund trust (i) because the condition described in paragraph 108(2)(a) ceased to be satisfied, (ii) because of the application of paragraph (6)(c), or (iii) because the trust ceased to exist; (b) the trust was a mutual fund trust at the beginning of the year; and (c) the trust would, throughout the portion of the year throughout which it was in existence, have been a mutual fund trust if (i) in the case where the condition described in paragraph 108(2)(a) was satisfied at any time in the year, that condition were satisfied throughout the year, (ii) subsection (6) were read without reference to paragraph (c) of that subsection, and (iii) this section were read without reference to this subsection. Idem (7) Where, at any time, it can reasonably be considered that a trust, having regard to all the circumstances, including the terms and conditions of the units of the trust, was established or is maintained primarily for the benefit of non-resident persons, the trust shall be deemed not to be a mutual fund trust after that time unless (a) at that time, all or substantially all of its property consisted of property other than property that would be taxable Canadian property if the definition taxable Canadian property in subsection 248(1) were read without reference to paragraph (b) of that definition; or (b) it has not issued any unit (other than a unit issued to a person as a payment, or in satisfaction of the person’s right to enforce payment, of an amount out of the trust’s income determined before the application of subsection 104(6), or out of the trust’s capital gains) of the trust after February 20, 1990 and before that time to a person who, after reasonable inquiry, it had reason to believe was non-resident, except where the unit was issued to that person under an agreement in writing entered into before February 21, 1990. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 132; 1994, c. 7, Sch. II, s. 111, Sch. VIII, s. 77; 1995, c. 21, s. 68; 1998, c. 19, s. 158; 1999, c. 22, s. 54; 2001, c. 17, s. 129; 2003, c. 15, s. 113; 2005, c. 19, s. 31; 2007, c. 29, s. 16; 2010, c. 25, s. 31; 2013, c. 34, ss. 133, 278; 2016, c. 7, s. 62 2021, c. 23, s. 27 2022, c. 19, s. 24
Income Tax Act — I-3.3
capital gains redemptions of a mutual fund trust for a taxation year means the amount determined by the formula (A/B × (C + D)) - E where A is the total of all amounts each of which is the portion of an amount paid by the trust in the year on the redemption of a unit in the trust that is included in the proceeds of disposition in respect of that redemption, B is the total of the fair market value at the end of the year of all the issued units of the trust and the amount determined for A in respect of the trust for the year, C is 100/16.5 of the trust’s refundable capital gains tax on hand at the end of the year, D is the amount determined by the formula (K + L) - (M + N) where K is the amount of the fair market value at the end of the year of all the issued units of the trust, L is the total of all amounts each of which is the amount of any debt owing by the trust, or of any other obligation of the trust to pay an amount, that was outstanding at that time, M is the total of the cost amounts to the trust at that time of all its properties, and N is the amount of any money of the trust on hand at that time, and E is twice the total of all amounts each of which is an amount designated under subsection 104(21) for the year by the trust in respect of a unit of the trust redeemed by the trust at any time in the year and after December 21, 2000; ( rachats au titre des gains en capital )
Income Tax Act — I-3.3
net asset value has the same meaning as in National Instrument 81-102 Investment Funds , as amended from time to time, of the Canadian Securities Administrators; ( valeur liquidative )
Income Tax Act — I-3.3
pro rata portion , of a beneficiary, of a mutual fund trust’s TCP gains balance for a taxation year, in respect of an amount designated under subsection 104(21) by the mutual fund trust for the taxation year, means the amount determined by the formula A x B/C where A is the mutual fund trust’s TCP gains balance for the taxation year, B is the amount the mutual fund trust has designated under that subsection in respect of the beneficiary for the taxation year, and C is the total of all amounts designated under that subsection by the mutual fund trust for the taxation year; ( partie proportionnelle )
Income Tax Act — I-3.3 (a)
refundable capital gains tax on hand of a mutual fund trust at the end of a taxation year means the amount determined by the formula (A - B) where A is the total of all amounts each of which is an amount in respect of that or any previous taxation year throughout which the trust was a mutual fund trust, equal to the least of (a) the highest individual percentage for the year multiplied by its taxable income for the year, (b) the highest individual percentage for the year multiplied by its taxed capital gains for the year, and (c) where the taxation year ended after May 6, 1974, the tax payable under this Part by it for the year, and B is the total of all amounts each of which is an amount in respect of any previous taxation year throughout which the trust was a mutual fund trust, equal to its capital gains refund for the year; ( impôt en main remboursable au titre des gains en capital )