GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Canada–United States Tax Convention Act, 1984 — C-10.7 “1
“1 The competent authorities of the Contracting States shall exchange such information as is relevant for carrying out the provisions of this Convention or of the domestic laws of the Contracting States concerning taxes to which the Convention applies insofar as the taxation thereunder is not contrary to the Convention. The exchange of information is not restricted by Article I (Personal Scope). Any information received by a Contracting State shall be treated as secret in the same manner as information obtained under the taxation laws of that State and shall be disclosed only to persons or authorities (including courts and administrative bodies) involved in the assessment or collection of, the administration and enforcement in respect of, or the determination of appeals in relation to the taxes to which the Convention applies or, notwithstanding paragraph 4, in relation to taxes imposed by a political subdivision or local authority of a Contracting State that are substantially similar to the taxes covered by the Convention under Article II (Taxes Covered). Such persons or authorities shall use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions. The competent authorities may release to an arbitration board established pursuant to paragraph 6 of Article XXVI (Mutual Agreement Procedure) such information as is necessary for carrying out the arbitration procedure; the members of the arbitration board shall be subject to the limitations on disclosure described in this Article.”
Canada–United States Tax Convention Act, 1984 — C-10.7 2
2 Paragraph 4 of Article XXVII (Exchange of Information) of the Convention shall be deleted and replaced by the following: “4 For the purposes of this Article, the Convention shall apply, notwithstanding the provisions of Article II (Taxes Covered): (a) To all taxes imposed by a Contracting State; and (b) To other taxes to which any other provision of the Convention applies, but only to the extent that the information is relevant for the purposes of the application of that provision.”
Canada–United States Tax Convention Act, 1984 — C-10.7 “4
“4 For the purposes of this Article, the Convention shall apply, notwithstanding the provisions of Article II (Taxes Covered): (a) To all taxes imposed by a Contracting State; and (b) To other taxes to which any other provision of the Convention applies, but only to the extent that the information is relevant for the purposes of the application of that provision.”
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) To all taxes imposed by a Contracting State; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) To other taxes to which any other provision of the Convention applies, but only to the extent that the information is relevant for the purposes of the application of that provision.”
Canada–United States Tax Convention Act, 1984 — C-10.7 1
1 Paragraph 3(a) of Article XXIX (Miscellaneous Rules) of the Convention shall be deleted and replaced by the following: “(a) Under paragraphs 3 and 4 of Article IX (Related Persons), paragraphs 6 and 7 of Article XIII (Gains), paragraphs 1, 3, 4, 5, 6(b) and 7 of Article XVIII (Pensions and Annuities), paragraph 5 of Article XXIX (Miscellaneous Rules), paragraphs 1, 5 and 6 of Article XXIX B (Taxes Imposed by Reason of Death), paragraphs 2, 3, 4 and 7 of Article XXIX B (Taxes Imposed by Reason of Death) as applied to the estates of persons other than former citizens referred to in paragraph 2 of this Article, paragraphs 3 and 5 of Article XXX (Entry into Force), and Articles XIX (Government Service), XXI (Exempt Organizations), XXIV (Elimination of Double Taxation), XXV (Non-Discrimination) and XXVI (Mutual Agreement Procedure);”
Canada–United States Tax Convention Act, 1984 — C-10.7 “(a)
“(a) Under paragraphs 3 and 4 of Article IX (Related Persons), paragraphs 6 and 7 of Article XIII (Gains), paragraphs 1, 3, 4, 5, 6(b) and 7 of Article XVIII (Pensions and Annuities), paragraph 5 of Article XXIX (Miscellaneous Rules), paragraphs 1, 5 and 6 of Article XXIX B (Taxes Imposed by Reason of Death), paragraphs 2, 3, 4 and 7 of Article XXIX B (Taxes Imposed by Reason of Death) as applied to the estates of persons other than former citizens referred to in paragraph 2 of this Article, paragraphs 3 and 5 of Article XXX (Entry into Force), and Articles XIX (Government Service), XXI (Exempt Organizations), XXIV (Elimination of Double Taxation), XXV (Non-Discrimination) and XXVI (Mutual Agreement Procedure);”
Canada–United States Tax Convention Act, 1984 — C-10.7 2
2 Paragraphs 5 to 7 of Article XXIX (Miscellaneous Rules) of the Convention shall be deleted and replaced by the following: “5 Where a person who is a resident of Canada and a shareholder of a United States S corporation requests the competent authority of Canada to do so, the competent authority may agree, subject to terms and conditions satisfactory to such competent authority, to apply the following rules for the purposes of taxation in Canada with respect to the period during which the agreement is effective: (a) The corporation shall be deemed to be a controlled foreign affiliate of the person; (b) All the income of the corporation shall be deemed to be foreign accrual property income; (c) For the purposes of subsection 20(11) of the Income Tax Act , the amount of the corporation’s income that is included in the person’s income shall be deemed not to be income from a property; and (d) Each dividend paid to the person on a share of the capital stock of the corporation shall be excluded from the person’s income and shall be deducted in computing the adjusted cost base to the person of the share. 6 For purposes of paragraph 3 of Article XXII (Consultation) of the General Agreement on Trade in Services, the Contracting States agree that: (a) A measure falls within the scope of the Convention only if: (i) The measure relates to a tax to which Article XXV (Non-Discrimination) of the Convention applies; or (ii) The measure relates to a tax to which Article XXV (Non-Discrimination) of the Convention does not apply and to which any other provision of the Convention applies, but only to the extent that the measure relates to a matter dealt with in that other provision of the Convention; and (b) Notwithstanding paragraph 3 of Article XXII (Consultation) of the General Agreement on Trade in Services, any doubt as to the interpretation of subparagraph (a) will be resolved under paragraph 3 of Article XXVI (Mutual Agreement Procedure) of the Convention or any other procedure agreed to by both Contracting States. 7 The appropriate authority of a Contracting State may request consultations with the appropriate authority of the other Contracting State to determine whether change to the Convention is appropriate to respond to changes in the law or policy of that other State. Where domestic legislation enacted by a Contracting State unilaterally removes or significantly limits any material benefit otherwise provided by the Convention, the appropriate authorities shall promptly consult for the purpose of considering an appropriate change to the Convention.”
Canada–United States Tax Convention Act, 1984 — C-10.7 “5
“5 Where a person who is a resident of Canada and a shareholder of a United States S corporation requests the competent authority of Canada to do so, the competent authority may agree, subject to terms and conditions satisfactory to such competent authority, to apply the following rules for the purposes of taxation in Canada with respect to the period during which the agreement is effective: (a) The corporation shall be deemed to be a controlled foreign affiliate of the person; (b) All the income of the corporation shall be deemed to be foreign accrual property income; (c) For the purposes of subsection 20(11) of the Income Tax Act , the amount of the corporation’s income that is included in the person’s income shall be deemed not to be income from a property; and (d) Each dividend paid to the person on a share of the capital stock of the corporation shall be excluded from the person’s income and shall be deducted in computing the adjusted cost base to the person of the share.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) The corporation shall be deemed to be a controlled foreign affiliate of the person;
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) All the income of the corporation shall be deemed to be foreign accrual property income;
Canada–United States Tax Convention Act, 1984 — C-10.7 (c)
(c) For the purposes of subsection 20(11) of the Income Tax Act , the amount of the corporation’s income that is included in the person’s income shall be deemed not to be income from a property; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (d)
(d) Each dividend paid to the person on a share of the capital stock of the corporation shall be excluded from the person’s income and shall be deducted in computing the adjusted cost base to the person of the share.
Canada–United States Tax Convention Act, 1984 — C-10.7 6
6 For purposes of paragraph 3 of Article XXII (Consultation) of the General Agreement on Trade in Services, the Contracting States agree that: (a) A measure falls within the scope of the Convention only if: (i) The measure relates to a tax to which Article XXV (Non-Discrimination) of the Convention applies; or (ii) The measure relates to a tax to which Article XXV (Non-Discrimination) of the Convention does not apply and to which any other provision of the Convention applies, but only to the extent that the measure relates to a matter dealt with in that other provision of the Convention; and (b) Notwithstanding paragraph 3 of Article XXII (Consultation) of the General Agreement on Trade in Services, any doubt as to the interpretation of subparagraph (a) will be resolved under paragraph 3 of Article XXVI (Mutual Agreement Procedure) of the Convention or any other procedure agreed to by both Contracting States.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) A measure falls within the scope of the Convention only if: (i) The measure relates to a tax to which Article XXV (Non-Discrimination) of the Convention applies; or (ii) The measure relates to a tax to which Article XXV (Non-Discrimination) of the Convention does not apply and to which any other provision of the Convention applies, but only to the extent that the measure relates to a matter dealt with in that other provision of the Convention; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (i)
(i) The measure relates to a tax to which Article XXV (Non-Discrimination) of the Convention applies; or
Canada–United States Tax Convention Act, 1984 — C-10.7 (ii)
(ii) The measure relates to a tax to which Article XXV (Non-Discrimination) of the Convention does not apply and to which any other provision of the Convention applies, but only to the extent that the measure relates to a matter dealt with in that other provision of the Convention; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) Notwithstanding paragraph 3 of Article XXII (Consultation) of the General Agreement on Trade in Services, any doubt as to the interpretation of subparagraph (a) will be resolved under paragraph 3 of Article XXVI (Mutual Agreement Procedure) of the Convention or any other procedure agreed to by both Contracting States.
Canada–United States Tax Convention Act, 1984 — C-10.7 7
7 The appropriate authority of a Contracting State may request consultations with the appropriate authority of the other Contracting State to determine whether change to the Convention is appropriate to respond to changes in the law or policy of that other State. Where domestic legislation enacted by a Contracting State unilaterally removes or significantly limits any material benefit otherwise provided by the Convention, the appropriate authorities shall promptly consult for the purpose of considering an appropriate change to the Convention.”
Canada–United States Tax Convention Act, 1984 — C-10.7 1
1 For the purposes of the application of this Convention by the United States, (a) A qualifying person shall be entitled to all of the benefits of this Convention, and (b) Except as provided in paragraphs 3, 4 and 6, a person that is not a qualifying person shall not be entitled to any benefits of the Convention.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) A qualifying person shall be entitled to all of the benefits of this Convention, and
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) Except as provided in paragraphs 3, 4 and 6, a person that is not a qualifying person shall not be entitled to any benefits of the Convention.
Canada–United States Tax Convention Act, 1984 — C-10.7 2
2 For the purposes of this Article, a qualifying person is a resident of Canada that is: (a) A natural person; (b) The Government of Canada or a political subdivision or local authority thereof, or any agency or instrumentality of any such government, subdivision or authority; (c) A company or trust in whose principal class of shares or units there is substantial and regular trading on a recognized stock exchange; (d) A company more than 50 per cent of the vote and value of the shares (other than debt substitute shares) of which is owned, directly or indirectly, by five or fewer persons each of which is a company or trust referred to in subparagraph (c), provided that each company or trust in the chain of ownership is a qualifying person or a resident or citizen of the United States; (e) (i) A company 50 per cent or more of the vote and value of the shares (other than debt substitute shares) of which is not owned, directly or indirectly, by persons other than qualifying persons or residents or citizens of the United States, or (ii) A trust 50 per cent or more of the beneficial interest in which is not owned, directly or indirectly, by persons other than qualifying persons or residents or citizens of the United States, where the amount of the expenses deductible from gross income that are paid or payable by the company or trust, as the case may be, for its preceding fiscal period (or, in the case of its first fiscal period, that period) to persons that are not qualifying persons or residents or citizens of the United States is less than 50 per cent of its gross income for that period; (f) An estate; (g) A not-for-profit organization, provided that more than half of the beneficiaries, members or participants of the organization are qualifying persons or residents or citizens of the United States; or (h) An organization described in paragraph 2 of Article XXI (Exempt Organizations) and established for the purpose of providing benefits primarily to individuals who are qualifying persons, persons who were qualifying persons within the five preceding years, or residents or citizens of the United States.
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) The Government of Canada or a political subdivision or local authority thereof, or any agency or instrumentality of any such government, subdivision or authority;
Canada–United States Tax Convention Act, 1984 — C-10.7 (c)
(c) A company or trust in whose principal class of shares or units there is substantial and regular trading on a recognized stock exchange;
Canada–United States Tax Convention Act, 1984 — C-10.7 (d)
(d) A company more than 50 per cent of the vote and value of the shares (other than debt substitute shares) of which is owned, directly or indirectly, by five or fewer persons each of which is a company or trust referred to in subparagraph (c), provided that each company or trust in the chain of ownership is a qualifying person or a resident or citizen of the United States;
Canada–United States Tax Convention Act, 1984 — C-10.7 (e) (i)
(e) (i) A company 50 per cent or more of the vote and value of the shares (other than debt substitute shares) of which is not owned, directly or indirectly, by persons other than qualifying persons or residents or citizens of the United States, or
Canada–United States Tax Convention Act, 1984 — C-10.7 (ii)
(ii) A trust 50 per cent or more of the beneficial interest in which is not owned, directly or indirectly, by persons other than qualifying persons or residents or citizens of the United States,
Canada–United States Tax Convention Act, 1984 — C-10.7
where the amount of the expenses deductible from gross income that are paid or payable by the company or trust, as the case may be, for its preceding fiscal period (or, in the case of its first fiscal period, that period) to persons that are not qualifying persons or residents or citizens of the United States is less than 50 per cent of its gross income for that period;
Canada–United States Tax Convention Act, 1984 — C-10.7 (g)
(g) A not-for-profit organization, provided that more than half of the beneficiaries, members or participants of the organization are qualifying persons or residents or citizens of the United States; or
Canada–United States Tax Convention Act, 1984 — C-10.7 (h)
(h) An organization described in paragraph 2 of Article XXI (Exempt Organizations) and established for the purpose of providing benefits primarily to individuals who are qualifying persons, persons who were qualifying persons within the five preceding years, or residents or citizens of the United States.
Canada–United States Tax Convention Act, 1984 — C-10.7 3
3 Where a person that is a resident of Canada and is not a qualifying person of Canada, or a person related thereto, is engaged in the active conduct of a trade or business in Canada (other than the business of making or managing investments, unless those activities are carried on with customers in the ordinary course of business by a bank, an insurance company, a registered securities dealer or a deposit-taking financial institution), the benefits of the Convention shall apply to that resident person with respect to income derived from the United States in connection with or incidental to that trade or business, including any such income derived directly or indirectly by that resident person through one or more other persons that are residents of the United States. Income shall be deemed to be derived from the United States in connection with the active conduct of a trade or business in Canada only if that trade or business is substantial in relation to the activity carried on in the United States giving rise to the income in respect of which benefits provided under the Convention by the United States are claimed.
Canada–United States Tax Convention Act, 1984 — C-10.7 4
4 A company that is a resident of Canada shall also be entitled to the benefits of Articles X (Dividends), XI (Interest) and XII (Royalties) if (a) Its shares that represent more than 90 per cent of the aggregate vote and value represented by all of its shares (other than debt substitute shares) are owned, directly or indirectly, by persons each of whom is a qualifying person, a resident or citizen of the United States or a person who (i) Is a resident of a country with which the United States has a comprehensive income tax convention and is entitled to all of the benefits provided by the United States under that convention; (ii) Would qualify for benefits under paragraphs 2 or 3 if that person were a resident of Canada (and, for the purposes of paragraph 3, if the business it carried on in the country of which it is a resident were carried on by it in Canada); and (iii) Would be entitled to a rate of United States tax under the convention between that person’s country of residence and the United States, in respect of the particular class of income for which benefits are being claimed under this Convention, that is at least as low as the rate applicable under this Convention; and (b) The amount of the expenses deductible from gross income that are paid or payable by the company for its preceding fiscal period (or, in the case of its first fiscal period, that period) to persons that are not qualifying persons or residents or citizens of the United States is less than 50 per cent of the gross income of the company for that period.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) Its shares that represent more than 90 per cent of the aggregate vote and value represented by all of its shares (other than debt substitute shares) are owned, directly or indirectly, by persons each of whom is a qualifying person, a resident or citizen of the United States or a person who (i) Is a resident of a country with which the United States has a comprehensive income tax convention and is entitled to all of the benefits provided by the United States under that convention; (ii) Would qualify for benefits under paragraphs 2 or 3 if that person were a resident of Canada (and, for the purposes of paragraph 3, if the business it carried on in the country of which it is a resident were carried on by it in Canada); and (iii) Would be entitled to a rate of United States tax under the convention between that person’s country of residence and the United States, in respect of the particular class of income for which benefits are being claimed under this Convention, that is at least as low as the rate applicable under this Convention; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (i)
(i) Is a resident of a country with which the United States has a comprehensive income tax convention and is entitled to all of the benefits provided by the United States under that convention;
Canada–United States Tax Convention Act, 1984 — C-10.7 (ii)
(ii) Would qualify for benefits under paragraphs 2 or 3 if that person were a resident of Canada (and, for the purposes of paragraph 3, if the business it carried on in the country of which it is a resident were carried on by it in Canada); and
Canada–United States Tax Convention Act, 1984 — C-10.7 (iii)
(iii) Would be entitled to a rate of United States tax under the convention between that person’s country of residence and the United States, in respect of the particular class of income for which benefits are being claimed under this Convention, that is at least as low as the rate applicable under this Convention; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) The amount of the expenses deductible from gross income that are paid or payable by the company for its preceding fiscal period (or, in the case of its first fiscal period, that period) to persons that are not qualifying persons or residents or citizens of the United States is less than 50 per cent of the gross income of the company for that period.
Canada–United States Tax Convention Act, 1984 — C-10.7 5
5 For the purposes of this Article, (a) The term recognized stock exchange means: (i) The NASDAQ System owned by the National Association of Securities Dealers, Inc. and any stock exchange registered with the Securities and Exchange Commission as a national securities exchange for purposes of the Securities Exchange Act of 1934; (ii) Canadian stock exchanges that are “prescribed stock exchanges” under the Income Tax Act ; and (iii) Any other stock exchange agreed upon by the Contracting States in an exchange of notes or by the competent authorities of the Contracting States; (b) The term not-for-profit organization of a Contracting State means an entity created or established in that State and that is, by reason of its not-for-profit status, generally exempt from income taxation in that State, and includes a private foundation, charity, trade union, trade association or similar organization; and (c) The term debt substitute share means: (i) A share described in paragraph (e) of the definition term preferred share in the Income Tax Act , as it may be amended from time to time without changing the general principle thereof; and (ii) Such other type of share as may be agreed upon by the competent authorities of the Contracting States.