GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — Income Tax Regulations
exporting resource means, in relation to a particular processing property of a taxpayer, a resource the ore or any portion thereof produced from which during the year immediately preceding the day on which the property was acquired by the taxpayer was ordinarily processed outside Canada to any stage that is not beyond the prime metal stage or its equivalent; ( ressource destinée à l’exportation )
Income Tax Regulations — Income Tax Regulations
mine means any location where material is extracted from a resource but does not include a well for the extraction of material from a deposit of bituminous sand, oil sand or oil shale; ( mine )
Income Tax Regulations — (a)
non-conventional lands means lands that belong to Her Majesty in right of Canada, or in respect of which Her Majesty in right of Canada has the right to dispose of or exploit the natural resources, situated in (a) the Yukon Territory, the Northwest Territories or Sable Island, or (b) those submarine areas, not within a province, adjacent to the coast of Canada and extending throughout the natural prolongation of the land territory of Canada to the outer edge of the continental margin or to a distance of two hundred nautical miles from the baselines from which the breadth of the territorial sea of Canada is measured, whichever is the greater; ( terres non conventionnelles )
Income Tax Regulations — (a)
original owner of a property means a person (a) who owned the property and disposed of it to a corporation that acquired it in circumstances in which subsection 1202(2) applies, or would apply if the corporation had continued to own the property, to the corporation in respect of the property, and (b) who would, but for paragraph 1202(2)(b) (as it read in its application to taxation years ending before February 18, 1987) or paragraph 1202(3)(a), as the case may be, be entitled in computing the person’s income for a taxation year ending after the person disposed of the property to a deduction under section 1201 in respect of expenditures that were incurred by the person before the person disposed of the property; ( propriétaire obligé )
Income Tax Regulations — (a)
predecessor owner of a property means a corporation (a) that acquired the property in circumstances in which subsection 1202(2) applies, or would apply if the corporation had continued to own the property, to the corporation in respect of the property, (b) that disposed of the property to another corporation that acquired it in circumstances in which subsection 1202(2) applies, or would apply if the other corporation had continued to own the property, to the other corporation in respect of the property, and (c) that would, but for subsection 1202(10), be entitled in computing its income for a taxation year after it disposed of the property to a deduction under subsection 1202(2) in respect of expenditures incurred by an original owner of the property; ( propriétaire antérieur )
Income Tax Regulations — Income Tax Regulations
primary recovery means the recovery of oil from a reservoir as a result of utilizing the natural energy of the reservoir to move the oil toward a producing well; ( récupération primaire )
Income Tax Regulations — Income Tax Regulations
proceeds of disposition of property has the meaning assigned by paragraph 13(21)(d) of the Act; ( produit de la disposition )
Income Tax Regulations — (a)
processing property means property (a) that is included in Class 10 in Schedule II because of paragraph (g) of the description of that Class or would be so included if that paragraph were read without reference to subparagraph (ii) of that paragraph and Schedule II were read without reference to Class 41, or (b) that is included in Class 10 in Schedule II because of paragraph (k) of the description of that Class or would be so included if that paragraph were read without reference to the words following subparagraph (ii) of that paragraph and Schedule II were read without reference to Class 41, other than property that had, before it was acquired by a taxpayer, been used for any purpose whatever by any person with whom the taxpayer was not dealing at arm’s length; ( biens servant au traitement )
Income Tax Regulations — Income Tax Regulations
production royalty [Repealed, SOR/2007-19, s. 4]
Income Tax Regulations — (a)
qualified resource means, in relation to a particular processing property of a taxpayer, a resource that, within a reasonable time after the property was acquired by him, (a) came into production in reasonable commercial quantities, or (b) was the subject of a major expansion whereby the greatest designed capacity, measured in weight of input of ore, of the mill that processed ore from the resource was not less than 25% greater in the year immediately following the expansion than it was in the year immediately preceding the expansion; ( ressource admissible )
Income Tax Regulations — (a)
qualified tertiary oil recovery project in respect of an expense incurred in a taxation year means a project that uses a method (including a method that uses carbon dioxide miscible, hydrocarbon miscible, thermal or chemical processes but not including a secondary recovery method) that is designed to recover oil from an oil well in Canada that is incremental to oil that would be recovered therefrom by primary recovery and a secondary recovery method, if (a) a specified royalty provision applies in the year or in the immediately following taxation year in respect of the production, if any, or any portion thereof from the project or in respect of the ownership of property to which such production relates, (b) the project is on a reserve within the meaning of the Indian Act , or (c) the project is located in the Province of Ontario; ( projet qualifié de récupération tertiaire du pétrole )
Income Tax Regulations — Income Tax Regulations
resource means any mineral resource in Canada; ( ressource )
Income Tax Regulations — Income Tax Regulations
secondary recovery method means a method to recover from a reservoir oil that is incremental to oil that would be recovered therefrom by primary recovery, by supplying energy to supplement or replace the natural energy of the reservoir through the use of technically proven methods, including waterflooding; ( méthode de récupération secondaire )
Income Tax Regulations — Income Tax Regulations
specified development well [Repealed, SOR/85-174, s. 7]
Income Tax Regulations — (a)
specified percentage for a calendar year (a) in respect of a Canadian oil and gas exploration expense of a taxpayer for that year incurred in respect of conventional lands means, (i) for the 1981 calendar year, 100 per cent, (ii) for the 1982 calendar year, 60 per cent, and (iii) for the 1983 calendar year, 30 per cent, and (b) in respect of a Canadian oil and gas exploration expense of a taxpayer for that year incurred in respect of non-conventional lands means, (i) for the 1981 and 1982 calendar years, 100 per cent, (ii) for the 1983 calendar year, 60 per cent, and (iii) for the 1984 calendar year, 30 per cent; ( pourcentage désigné )
Income Tax Regulations — Income Tax Regulations
specified property of a person means all or substantially all of the property used by the person in carrying on in Canada such of the businesses described in subparagraphs 66(15)(h)(i) to (vii) of the Act as were carried on by the person; ( biens déterminés )
Income Tax Regulations — Income Tax Regulations
specified royalty [Repealed, SOR/2007-19, s. 4]
Income Tax Regulations — (a)
stated percentage means (a) where the taxpayer is an individual other than a trust, in respect of subparagraph 1203(2)(a)(i), (i) 100 per cent in respect of an expenditure incurred before 1989, (ii) 50 per cent in respect of an expenditure incurred after 1988 and before 1990, and (iii) 0 per cent in respect of an expenditure incurred after 1989, (b) in respect of subparagraph 1203(2)(a)(i) (where paragraph (a) is not applicable) and paragraphs 1205(1)(a), (b), (c) and (f) (i) 100 per cent in respect of an expenditure incurred or a cost incurred in borrowing capital before July 1, 1988, (ii) 50 per cent in respect of an expenditure incurred or a cost incurred in borrowing capital after June 30, 1988 and before 1990, and (iii) 0 per cent in respect of an expenditure incurred or a cost incurred in borrowing capital after 1989, (c) where the taxpayer is an individual other than a trust, in respect of subparagraph 1203(2)(a)(ii) and subsection 1203(4), (i) 100 per cent in respect of any assistance that relates to expenditures incurred before 1989, (ii) 50 per cent in respect of any assistance that relates to expenditures incurred after 1988 and before 1990, and (iii) 0 per cent in respect of any assistance that relates to expenditures incurred after 1989, and (d) in respect of subparagraph 1203(2)(a)(ii) (if paragraph (c) is not applicable), subsection 1203(4) (if paragraph (c) is not applicable) and subparagraph 1205(1)(j)(iii), (i) 100 per cent in respect of any assistance or benefit that relates to expenditures incurred before July 1, 1988, (ii) 50 per cent in respect of any assistance or benefit that relates to expenditures incurred after June 30, 1988 and before 1990, and (iii) 0 per cent in respect of any assistance or benefit that relates to expenditures incurred after 1989; ( pourcentage indiqué )
Income Tax Regulations — Income Tax Regulations
tar sands ore means ore extracted, other than through a well, from a mineral resource that is a deposit of bituminous sand, oil sand or oil shale; ( minerai de sables asphaltiques )
Income Tax Regulations — (a)
tertiary recovery equipment means property of a taxpayer that (a) is, or but for Class 41 in Schedule II would be, included in Class 10 in Schedule II by virtue of paragraph (j) of the description of that Class, (b) was acquired by the taxpayer after 1980 for use in a qualified tertiary oil recovery project, other than property (c) used by the taxpayer for another use prior to the use described in paragraph (b), or (d) that had, before it was acquired by the taxpayer, been used for any purpose whatever by any person with whom the taxpayer was not dealing at arm’s length. ( matériel de récupération tertiaire )
Income Tax Regulations — 1207
sition as a result of an amalgamation described in section 87 of the Act, the predecessor existed after the time of acquisition and no property was acquired or disposed of in the course of the amalgamation) exceeds (ii) the amount, if any, deducted under subsection (1) in computing the income of the predecessor for the transaction year of the predecessor. (8) [Repealed, SOR/91-79, s. 8] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-502, s. 7; SOR/79-245, s. 6; SOR/80-418, s. 5; SOR/80-936, s. 1; SOR/81-974, s. 8; SOR/85-174, s. 8; SOR/85-696, ss. 2, 5; SOR/90-113, s. 6; SOR/90-733, s. 5; SOR/91-79, s. 8; SOR/94-686, ss. 58(F), 78(F), 79(F)
Income Tax Regulations — 1208
1208 (1) Subject to subsections (3) and (4) where a taxpayer has income for a taxation year from an oil or gas well that is outside Canada, or where an individual has income for a taxation year from an oil or gas well in Canada, in computing his income for the year he may deduct the lesser of (a) the aggregate of drilling costs incurred by him in that year and previous taxation years in respect of the well (not including the cost of land, leases or other rights and not including indirect expenses such as general exploration, geological and geophysical expenses) minus the aggregate of all amounts deductible in respect thereof in computing his income for previous years; and (b) that part of his income for the year that may reasonably be regarded as income from the well. (2) Where a taxpayer has more than one oil or gas well to which subsection (1) applies, the allowance in respect of the drilling costs of each well shall be computed separately. (3) Where an individual has income for a taxation year from an oil or gas well in Canada, no deduction may be made under this section in computing such income in respect of drilling costs of that well incurred after April 10, 1962. (4) Where a taxpayer has income for a taxation year from an oil or gas well that is outside Canada, no deduction may be made under this section in computing such income in respect of drilling costs of that well incurred after 1971.
Income Tax Regulations — 1209
1209 (1) Subject to subsection (3), where a taxpayer operates in Canada a mine for the production of materials from a resource he may deduct, in computing his income for a taxation year, such amount as he may claim not exceeding 25 per cent of the amount computed under subsection (2). (2) The amount referred to in subsection (1) is the aggregate of all expenditures made or incurred by the taxpayer before 1972 that are reasonably attributable to the prospecting and exploration for and the development of the mine prior to the coming into production of the mine in reasonable commercial quantities, except to the extent that the expenditures were (a) expenditures in respect of which a deduction from, or in computing, a taxpayer’s income tax or excess profits tax was provided by section 8 of the Income War Tax Act ; (b) expenditures in respect of which an amount was deducted in computing a taxpayer’s income under section 16 of chapter 63, S.C., 1947 or section 16 of chapter 53, S.C., 1947-48 or, if the expenditure was incurred prior to 1953, under section 53 of chapter 25, S.C., 1949 (Second Session); (c) expenditures incurred after 1952 in respect of which a deduction was or is provided by section 53 of chapter 25, S.C., 1949 (Second Session), section 83A of the Act as it read in its application to the 1971 taxation year or section 29 of the Income Tax Application Rules , (d) expenditures deducted in computing the income of the taxpayer in the year they were incurred; (e) the cost to the taxpayer of property in respect of which an allowance is provided under paragraph 20(1)(a) of the Act; or (f) the cost to the taxpayer of a leasehold interest. (3) The amount deductible under subsection (1) shall not exceed the amount computed under subsection (2) minus the aggregate of (a) amounts deducted under subsection (1) in computing the income of the taxpayer for previous taxation years; and (b) similar amounts deducted in computing the income of the taxpayer for the purposes of the Income War Tax Act and The 1948 Income Tax Act (as defined in paragraph 12(d) of the Income Tax Application Rules ). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/94-686, s. 48
Income Tax Regulations — 1210
1210 [Repealed, SOR/2007-19, s. 5] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-974, s. 9; SOR/85-174, s. 9; SOR/90-113, s. 7; SOR/91-79, s. 9; SOR/93-120, s. 2; SOR/94-686, ss. 58(F), 78(F); SOR/96-451, s. 5; SOR/99-179, s. 8; SOR/2007-19, s. 5
Income Tax Regulations — 1210.1
1210.1 [Repealed, SOR/2007-19, s. 6] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/99-179, s. 9; SOR/2007-19, s. 6
Income Tax Regulations — 1211
1211 [Repealed, SOR/2007-19, s. 6] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-502, s. 8; SOR/80-926, s. 2; SOR/81-974, s. 10; SOR/85-174, s. 10; 1991, c. 10, s. 19; SOR/2007-19, s. 6
Income Tax Regulations — 1213
1213 For the purposes of subparagraph 66.1(2)(a)(ii) of the Act, prescribed deduction in respect of a corporation for a taxation year means an amount deducted under subsection 1202(2) by the corporation in computing its income for the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-974, s. 12; SOR/91-79, s. 11; SOR/94-686, s. 79(F)
Income Tax Regulations — 1214
1214 (1) Where a particular corporation amalgamates with another corporation to form a new corporation, or the assets of a subsidiary are transferred to its parent corporation on the winding-up of the subsidiary, and subsection 87(1.2) or 88(1.5) of the Act is applicable to the new corporation or the parent corporation, as the case may be, the new corporation or the parent corporation, as the case may be, shall be deemed to be the same corporation as, and a continuation of, the particular corporation or the subsidiary, as the case may be, for the purposes of (a) computing the mining exploration depletion base (within the meaning assigned by subsection 1203(2)), the earned depletion base, the frontier exploration base (within the meaning assigned by subsection 1207(2)) and the supplementary depletion base (within the meaning assigned by subsection 1212(3)) of the new corporation or the parent corporation, as the case may be; and (b) determining the amounts, if any, that may be deducted under subsection 1202(2) in computing the income of the new corporation or the parent corporation, as the case may be, for a particular taxation year. (2) Where there has been an amalgamation (within the meaning assigned by subsection 87(1) of the Act) of two or more particular corporations to form one corporate entity, that entity shall be deemed to be the same corporation as, and a continuation of, each of the particular corporations for the purposes of subsection 1202(9). (3) Where a taxable Canadian corporation (in this subsection referred to as the “subsidiary”) has been wound up in circumstances in which subsection 88(1) of the Act applies in respect of the subsidiary and another taxable Canadian corporation (in this subsection referred to as the “parent”), the parent shall be deemed to be the same corporation as, and a continuation of, the subsidiary for the purposes of subsection 1202(9). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-974, s. 12; SOR/85-174, s. 12; SOR/90-113, s. 9; SOR/91-79, s. 12; SOR/94-686, s. 79(F)
Income Tax Regulations — 1215
1215 [Repealed, SOR/90-733, s. 7] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/90-733, s. 7
Income Tax Regulations — 1216
1216 For the purpose of subsection 208(1) of the Act, a person described in any of paragraphs 149(1)(d) to (d.6) of the Act is a prescribed person. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/85-174, s. 14; SOR/2001-187, s. 2; SOR/2001-295, s. 3(E)
Income Tax Regulations — 1217
1217 (1) For the purposes of subsection 66(14.1) of the Act, the prescribed Canadian exploration expense of a corporation for a taxation year is the amount, if any, by which its total specified exploration expenses for the year exceed its total exploration assistance for the year. (2) For the purposes of subsection (1), the total specified exploration expenses of a particular corporation for a particular taxation year are the aggregate of (a) all expenses (other than expenses referred to in paragraph (b) or (c)) that are described in any of subparagraphs 66.1(6)(a)(i) to (ii) of the Act and that were incurred by the particular corporation in the particular year and after March 1985 and before October 1986, (b) where the particular corporation is a shareholder corporation of a joint exploration corporation, all expenses described in any of subparagraphs 66.1(6)(a)(i) to (ii) of the Act that were incurred by the joint exploration corporation after March 1985 and before October 1986 and in the taxation year of the joint exploration corporation ending in the particular year and that were deemed under paragraph 66(10.1)(c) of the Act to be Canadian exploration expenses incurred by the particular corporation in the particular year, and (c) all expenses that would be described in subparagraph 66.1(6)(a)(iv) or (v) of the Act if the references in those subparagraphs to “any of subparagraphs (i) to (iii.1) incurred” were read as “any of subparagraphs (i) to (ii) incurred after March 1985 and before October 1986” and that were incurred by the particular corporation in the particular year or by a partnership in a fiscal period of the partnership that ended in the particular year if, at the end of that fiscal period, the particular corporation was a member of the partnership, other than (d) expenses renounced by the corporation at any time under subsection 66(10.1) or (12.6) of the Act, (e) Canadian exploration and development overhead expenses of the corporation or of a partnership of which the corporation was a member, or (f) expenses incurred or deemed to have been incurred by the corporation in a period during which it was exempt from tax on its taxable income under Part I of the Act. (3) For the purposes of subsection (1), the total exploration assistance of a corporation for a taxation year is the aggregate of all amounts each of which is an amount of assistance or benefit that the corporation has received or is entitled to receive in the year from a government, municipality or other public authority in respect of an expense that is included in its total specified exploration expenses for the year by virtue of paragraph (2)(a) or (c), whether such amount is by way of a grant, subsidy, rebate, forgivable loan, deduction from royalty or tax, rebate of royalty or tax, investment allowance or any other form of assistance or benefit. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/88-423, s. 2; SOR/94-686, ss. 58(F), 78(F), 79(F), 81(F)