GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — 6203
f a share, as the case may be (in this subsection referred to as the “taxpayer”), means any person or partnership with whom the taxpayer does not deal at arm’s length or any partnership or trust of which the taxpayer (or a person or partnership with whom the taxpayer does not deal at arm’s length) is a member or beneficiary, respectively. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/86-1136, s. 8; SOR/94-686, ss. 67(F), 78(F), 79(F)
Income Tax Regulations — 6205
arket value of the share immediately before the acquisition, where the acquisition was provided for in the agreement and the principal purpose for its provision was to provide the holder with a market for the share, and (B) no portion of the amount payable on the acquisition of the share is directly determinable by reference to the profits of the corporation, or of another corporation with which it does not deal at arm’s length, for all or any part of the period during which the holder owned the share or had a right to acquire the share, unless the reference to the profits of the corporation or the other corporation is only for the purpose of determining the fair market value of the share pursuant to a formula set out in the agreement. (5) For the purposes of this section, specified person , in relation to a corporation or a holder of a share, as the case may be (in this subsection referred to as the “taxpayer”), means any person or partnership with whom the taxpayer does not deal at arm’s length or any partnership or trust of which the taxpayer (or a person or partnership with whom the taxpayer does not deal at arm’s length) is a member or beneficiary, respectively. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/86-1136, s. 8; SOR/90-607, s. 1; SOR/92-30, s. 2; SOR/92-681, s. 3(F); SOR/94-315, s. 3; SOR/94-686, ss. 71(F), 78(F), 79(F); SOR/2001-188, s. 5
Income Tax Regulations — 6206
6206 The Class I Special Shares of Reed Stenhouse Companies Limited, issued before January 1, 1986, are prescribed for the purposes of subsection 84(8) of the Act. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/86-1136, s. 8
Income Tax Regulations — 6207
 changed or any existing agreement in respect of the share is changed or a new agreement in respect of the share is entered into, the share shall, for the purpose of determining whether it is a prescribed share, be deemed to have been issued at that particular time; (d) the determination of whether a share of the capital stock of a corporation owned by an employee of the corporation or another corporation with which it does not deal at arm’s length is a prescribed share shall be made without reference to a right or obligation with respect to an acquisition of the share, the consideration for which is described in subparagraph 183.1(4)(c)(i) or (ii) of the Act (as those subparagraphs read in their application to transactions entered into before September 13, 1988) where no portion of the amount payable on the acquisition of the share is directly determinable by reference to the profits of the corporation or the other corporation for all or any part of the period during which the employee owned the share or had a right to acquire the share, unless the reference to the profits of the corporation or the other corporation is only for the purpose of determining the fair market value of the share pursuant to a formula set out in the employee share purchase agreement under which the employee acquired the share; and (e) a reference in subparagraphs (1)(a)(iv) and (vi) to a right or obligation of the corporation or a person or partnership does not include a right or obligation provided in a written agreement among shareholders of a private corporation owning more than 50 per cent of its issued and outstanding share capital having full voting rights under all circumstances to which the corporation, person or partnership is a party unless it may reasonably be considered, having regard to all the circumstances including the terms of the agreement and the number and relationship of the shareholders, that one of the main reasons for the existence of the agreement is to avoid or limit the application of subsection 183.1(1) of the Act. (3) For the purposes of subsection (1), specified person in relation to a corporation means any person or partnership with whom the corporation does not deal at arm’s length or any partnership or trust of which the corporation (or a person or partnership with whom the corporation does not deal at arm’s length) is a member or beneficiary, respectively. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/90-607, s. 2; SOR/92-681, s. 3; SOR/94-686, ss. 78(F), 79(F)
Income Tax Regulations — 6208
of Part XIII of the Act. (3) In this section, specified person , in relation to a corporation or a shareholder, means any person with whom the corporation or the shareholder, as the case may be, does not deal at arm’s length or any partnership or trust of which the corporation or the shareholder, as the case may be, or the person is a member or beneficiary, respectively. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/90-285, s. 1; SOR/94-686, ss. 78(F), 79(F)
Income Tax Regulations — 6209
6209 For the purposes of the definition lending asset in subsection 248(1) of the Act, (a) a share owned by a bank is a prescribed share for a taxation year where it is a preferred share of the capital stock of a corporation that is dealing at arm’s length with the bank that may reasonably be considered to be, and is reported as, a substitute or alternative for a loan to the corporation, or another corporation with whom the corporation does not deal at arm’s length, in the bank’s annual report for the year to the relevant authority or, where the bank was throughout the year subject to the supervision of the relevant authority but was not required to file an annual report for the year with the relevant authority, in its financial statements for the year; and (b) a property is a prescribed property for a taxation year where (i) the security is a mark-to-market property (as defined in subsection 142.2(1) of the Act) for the year of a financial institution (as defined in subsection 142.2(1) of the Act), (ii) the security is at any time in the year a property described in an inventory of a taxpayer, or (iii) the property is a direct financing lease, or is any other financing arrangement, of a taxpayer that is reported as a loan in the taxpayer’s financial statement for the year prepared in accordance with generally accepted accounting principles and an amount is deductible under paragraph 20(1)(a) of the Act in respect of the property that is the subject of the lease or arrangement in computing the taxpayer’s income for the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/91-78, s. 3; SOR/94-686, ss. 35(F), 79(F); SOR/99-91, s. 1; SOR/2009-222, s. 5
Income Tax Regulations — 6210
6210 For the purposes of paragraph 38(a.1) of the Act, a prescribed debt obligation is a bond, debenture, note, mortgage or similar obligation (a) of or guaranteed by the Government of Canada; or (b) of the government of a province or an agent of that government. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2001-187, s. 6
Income Tax Regulations — 6300
6300 In this Part, qualified dependant has the meaning assigned by section 122.6 of the Act. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/93-13, s. 1
Income Tax Regulations — 6301
6301 (1) For the purposes of paragraph (g) of the definition eligible individual in section 122.6 of the Act, the presumption referred to in paragraph (f) of that definition does not apply in the circumstances where (a) subject to paragraph (c), the female parent of the qualified dependant declares in writing to the Minister that she resides with the other parent of that qualified dependant and that that other parent primarily fulfils the responsibility for the care and upbringing of each of the qualified dependants with whom both parents reside; (b) the female parent is a qualified dependant of an eligible individual and each of them files a notice with the Minister under subsection 122.62(1) of the Act in respect of the same qualified dependant; (c) there is more than one female parent of the qualified dependant who resides with the qualified dependant and each female parent files a notice with the Minister under subsection 122.62(1) of the Act in respect of the qualified dependant; or (d) more than one notice is filed with the Minister under subsection 122.62(1) of the Act in respect of the same qualified dependant who resides with each of the persons filing the notices if such persons live at different locations. (2) For greater certainty, a person who files a notice referred to in paragraph (1)(b), (c) or (d) includes a person who is not required under subsection 122.62(3) of the Act to file such a notice. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/93-13, s. 1; SOR/99-17, s. 9 SOR/2021-82, s. 1
Income Tax Regulations — 6302
6302 For the purposes of paragraph (h) of the definition eligible individual in section 122.6 of the Act, the following factors are to be considered in determining what constitutes care and upbringing of a qualified dependant: (a) the supervision of the daily activities and needs of the qualified dependant; (b) the maintenance of a secure environment in which the qualified dependant resides; (c) the arrangement of, and transportation to, medical care at regular intervals and as required for the qualified dependant; (d) the arrangement of, participation in, and transportation to, educational, recreational, athletic or similar activities in respect of the qualified dependant; (e) the attendance to the needs of the qualified dependant when the qualified dependant is ill or otherwise in need of the attendance of another person; (f) the attendance to the hygienic needs of the qualified dependant on a regular basis; (g) the provision, generally, of guidance and companionship to the qualified dependant; and (h) the existence of a court order in respect of the qualified dependant that is valid in the jurisdiction in which the qualified dependant resides. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/93-13, s. 1
Income Tax Regulations — 6400
6400 For the purposes of subsection 122.2(1) of the Act, the prescribed date for each of the 1978 and subsequent taxation years is December 31st of that year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/79-206, s. 1; SOR/80-139, s. 1; SOR/80-925, s. 1; SOR/81-289, s. 1
Income Tax Regulations — 6401
6401 For the purposes of subsection 120(2) of the Act, the prescribed date for each of the 1980 and subsequent taxation years is December 31st of that year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-289, s. 1
Income Tax Regulations — 6500
6500 For the purposes of paragraph 241(4)(j.2) of the Act, the following are prescribed laws of the Province of Quebec: (a) An Act respecting the Québec Pension Plan , R.S.Q., c. R-9; and (b) Individual and Family Assistance Act , R.S.Q., c. A-13.1.1, as it relates to the additional amounts for dependent children. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-245, s. 1; SOR/81-118, s. 1; SOR/82-214, s. 1; SOR/86-488, s. 8; SOR/2007-116, s. 9; 2013, c. 40, 112
Income Tax Regulations — 6501
6501 For the purposes of paragraph 81(1)(q) of the Act, prescribed provision of the law of a province means (a) in respect of the Province of Alberta (i) subsections 7(1) and 14(1) of The Criminal Injuries Compensation Act , R.S.A. 1970, c. 75, and (ii) subsections 8(3), 10(2) and 13(8) of The Motor Vehicle Accident Claims Act , R.S.A. 1970, c. 243; (b) in respect of the Province of British Columbia (i) paragraphs 3(1)(a) and (b) and section 9 of the Criminal Injury Compensation Act , R.S.B.C. 1979, c. 83, and (ii) subsection 106(1) of the Motor-vehicle Act , R.S.B.C. 1960, c. 253, as amended by S.B.C. 1965, c. 27; (c) in respect of the Province of Manitoba (i) subsection 6(1) of The Criminal Injuries Compensation Act , S.M. 1970, c. 56, and (ii) subsections 7(9) and 12(11) of The Unsatisfied Judgement Fund Act , R.S.M. 1970, U70; (d) in respect of the Province of New Brunswick (i) subsections 3(1) and (2) of the Compensation for Victims of Crime Act , R.S.N.B. 1973, c. C-14, and (ii) subsections 319(3), (10) and 321(1) of the Motor Vehicle Act , R.S.N.B. 1973, c. M-17; (e) in respect of the Province of Newfoundland (i) subsection 27(1) of the Criminal Injuries Compensation Act , R.S.N. 1970, c. 68, and (ii) subsection 106(2) of The Highway Traffic Act , R.S.N. 1970, c. 152; (f) in respect of the Northwest Territories, subsections 3(1) and 5(2) and section 13 of the Criminal Injuries Compensation Ordinance , R.O.N.W.T. 1974, c. C-23; (g) in respect of the Province of Nova Scotia, subsections 190(5) and 191(2) of the Motor Vehicle Act , R.S.N.S. 1967, c. 191; (h) in respect of the Province of Ontario (i) section 5, subsection 7(2) and section 14 of The Compensation for Victims of Crime Act, 1971 , S.O. 1971, c. 51, and (ii) subsections 5(3) and 6(1) and section 18 of The Motor Vehicle Accident Claims Act , R.S.O. 1970, c. 281; (i) in respect of the Province of Prince Edward Island, subsection 351(3) of the Highway Traffic Act , R.S.P.E.I. 1974, c. H-6; (j) in respect of the Province of Quebec (i) sections 5, 5b and 14 of the Crime Victims Compensation Act , S.Q. 1971, c. 18, and (ii) sections 13 and 26, subsection 37(1) and sections 44 and 54 of the Automobile Insurance Act , S.Q. 1977, c. 68; (k) in respect of the Province of Saskatchewan (i) subsection 10(1) of The Criminal Injuries Compensation Act , R.S.S. 1978, c. C-47, and (ii) subsections 23(1) to (4) and (7), 24(2) to (7) and (9), 25(1), 26(1), 27(1) and (2), 27(5), 51(8) and (9), 54(3) and 55(1) of The Automobile Accident Insurance Act , R.S.S. 1978, c. A-35; and (l) in respect of the Yukon Territory, subsection 3(1) of the Compensation for the Victims of Crime Ordinance , O.Y.T. 1975 (1st), c. 2 as amended by O.Y.T. 1976 (1st), c. 5. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-118, s. 2
Income Tax Regulations — 6502
6502 For the purposes of paragraph 56(1)(c.1), section 56.1, paragraph 60(c.1) and section 60.1 of the Act, the class of individuals (a) who were parties, whether in a personal capacity or by representation, to proceedings giving rise to an order made in accordance with the laws of the Province of Ontario, and (b) who, at the time the application for the order was made, were persons described in subclause 14(b)(i) of the Family Law Reform Act , Revised Statutes of Ontario 1980, c. 152, is prescribed as a class of persons described in the laws of a province. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/85-116, s. 1
Income Tax Regulations — 6503
6503 For the purposes of paragraphs 60(j.02) to (j.04) of the Act, subsection 41(5) of the Canadian Forces Superannuation Act , subsections 39(7) and 42(8) of the Public Service Superannuation Act and subsection 24(6) of the Royal Canadian Mounted Police Superannuation Act are prescribed. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/94-346, s. 2; 2017, c. 33, s. 99
Income Tax Regulations — 6600
6600 For the purpose of the definition overseas Canadian Forces school staff in subsection 248(1) of the Act, the Canadian Forces Overseas Schools Regulations is prescribed. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-288, s. 1; SOR/81-705, s. 1; SOR/2010-93, s. 23
Income Tax Regulations — 6700.1
6700.1 For the purposes of paragraph 40(2)(i) and clause 53(2)(k)(i)(C) of the Act, a corporation that has an employee share ownership plan registered under Part 1 of the Employee Investment Act , R.S.B.C. 1996, c. 112, is also a prescribed venture capital corporation. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-397, s. 2; SOR/94-686, s. 79(F); SOR/2001-289, s. 3
Income Tax Regulations — 6700.2
6700.2 For the purposes of paragraph 40(2)(i) and clause 53(2)(k)(i)(C) of the Act, “prescribed venture capital corporation” at any time includes a corporation that at that time is a corporation registered under the provisions of Part II of the Community Small Business Investment Funds Act , chapter 18 of the Statutes of Ontario, 1992, or of Part II of the Risk Capital Investment Tax Credits Act , chapter 22 of the Statutes of the Northwest Territories, 1998. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/93-396, s. 2; SOR/94-686, s. 37(F); SOR/99-102, s. 4
Income Tax Regulations — 6701
6701 For the purposes of paragraph 40(2)(i), clause 53(2)(k)(i)(C), the definition public corporation in subsection 89(1), the definition specified investment business in subsection 125(7), the definition approved share in subsection 127.4(1), subsections 131(8) and (11), section 186.1, the definition financial intermediary corporation in subsection 191(1), the definition eligible investment in subsection 204.8(1) and subsection 204.81(8.3) of the Act, prescribed labour-sponsored venture capital corporation means, at any particular time, (a) the corporation established by the Act to establish the Fonds de solidarité des travailleurs du Québec (F.T.Q.) , Statutes of Quebec 1983, c. 58; (b) a corporation that is registered under the provisions of The Labour-sponsored Venture Capital Corporations Act , Statutes of Saskatchewan 1986, c. L-0.2; (c) a corporation that is registered under Part 2 of the Employee Investment Act , Revised Statutes of British Columbia, 1996, c. 112; (d) a registered labour-sponsored venture capital corporation; (e) [Repealed, SOR/2024-231, s. 17] (f) the corporation established by The Manitoba Employee Ownership Fund Corporation Act , Continuing Consolidation of the Statutes of Manitoba, c. E95; (f.1) a corporation that is registered under The Labour-Sponsored Venture Capital Corporations Act , Continuing Consolidation of the Statutes of Manitoba c. L12; (g) the corporation established by An Act to establish Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi , Statutes of Québec 1995, c. 48; (h) a corporation that is registered under Part II of the Equity Tax Credit Act , Statutes of Nova Scotia 1993, c. 3; or (i) a corporation that is registered under Part II of the Risk Capital Investment Tax Credits Act , chapter 22 of the Statutes of the Northwest Territories, 1998. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-540, s. 1; SOR/86-1136, s. 10; SOR/89-551, s. 3; SOR/92-397, s. 3; SOR/92-398, s. 2; SOR/93-396, s. 3; SOR/94-686, ss. 38(F), 79(F); SOR/96-173, s. 2; SOR/97-504, s. 2; SOR/98-12, s. 2; SOR/98-281, s. 3; SOR/99-102, s. 5; SOR/2001-289, s. 4; SOR/2005-126, s. 4; 2013, c. 34, s. 403 SOR/2024-231, s. 17
Income Tax Regulations — 6701.1
6701.1 [Repealed, 2016, c. 7, s. 57] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2013, c. 40, s. 113; 2016, c. 7, s. 57
Income Tax Regulations — 6702
6702 For the purposes of subparagraph 40(2)(i)(ii) and clause 53(2)(k)(i)(C) of the Act, each of the following is prescribed assistance: (a) the assistance received from a province that has been provided in respect of, or for the acquisition of, a share of the capital stock of a venture capital corporation described in section 6700; (a.1) the assistance provided under the Employee Investment Act , R.S.B.C. 1996, c. 112, in respect of, or for the acquisition of, a share of the capital stock of a venture capital corporation described in section 6700.1; (a.2) the assistance provided under the Community Small Business Investment Funds Act , S.O. 1992, c. 18, the Risk Capital Investment Tax Credits Act , S.N.W.T. 1998, c. 22, or the Risk Capital Investment Tax Credits Act , S.N.W.T. 1998, c. 22, as duplicated for Nunavut, in respect of, or for the acquisition of, a share of the capital stock of a venture capital corporation described in section 6700.2; (b) a tax credit provided in respect of, or for the acquisition of, a share of a labour-sponsored venture capital corporation described in section 6701; and (c) a tax credit provided by a province in respect of, or for the acquisition of, a share of the capital stock of a taxable Canadian corporation (other than a share of the capital stock of a corporation in respect of which an amount has been renounced by the corporation under subsection 66(12.6), (12.601), (12.62) or (12.64) of the Act) that is held in a stock savings plan described in section 6705. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/86-1136, s. 10; SOR/89-551, s. 4; SOR/92-397, s. 4; SOR/93-396, s. 4; SOR/94-686, s. 79(F); SOR/96-199, s. 4; SOR/99-102, s. 6; SOR/2001-289, s. 5
Income Tax Regulations — 6703
6703 For the purposes of section 186.1 of the Act, a prescribed investment contract corporation means a corporation described in clause 146(1)(j)(ii)(B) of the Act. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/84-948, s. 17; SOR/86-1136, s. 11; SOR/94-686, s. 79(F)
Income Tax Regulations — 6704
6704 For the purposes of section 186.2 of the Act, a corporation is a prescribed qualifying corporation in respect of dividends received by a shareholder on shares of its capital stock if, when the shares were acquired by the shareholder, they constituted (a) an investment described in sections 33 and 34 of the Act referred to in subparagraph 6700(a)(i); (b) an eligible investment under the provisions of an Act referred to in subparagraph 6700(a)(ii), (iv), (v), (vi) or (viii) or the regulation referred to in subparagraph 6700(a)(iii); (c) a qualified investment under the provisions of the Act referred to in subparagraph 6700(a)(vii); (d) an investment in an eligible business under the Venture Capital Policy and Directive referred to in paragraph 6700(c); or (e) an investment in an eligible entity described in sections 17 and 18 of An Act constituting Capital régional et coopératif Desjardins , R.S.Q., c. C-6.1. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/89-551, s. 5; SOR/92-397, s. 5; SOR/93-396, s. 5; SOR/94-686, s. 79(F); SOR/2011-188, s. 24