GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3
preexisting individual account means a preexisting account held by one or more individuals (other than trusts). ( compte de particulier préexistant )
Income Tax Act — I-3.3 (a)
qualified credit card issuer means a financial institution that satisfies the following requirements: (a) the financial institution is a financial institution solely because it is an issuer of credit cards that accepts deposits only when a customer makes a payment in excess of a balance due with respect to the card and the overpayment is not immediately returned to the customer; and (b) the financial institution has policies and procedures either to prevent a customer from making an overpayment in excess of 50,000 USD or to ensure that any customer overpayment in excess of 50,000 USD is refunded to the customer within 60 days, in each case applying the rules set forth in subsection 277(3) for account aggregation, and, for the purposes of this paragraph, a customer overpayment does not refer to credit balances to the extent of disputed charges but does include credit balances resulting from merchandise returns. ( émetteur de carte de crédit déterminé )
Income Tax Act — I-3.3 (a)
related entity , in respect of an entity, means an entity if either entity controls the other entity or the two entities are controlled by the same entity or individual (and in the case of two entities that are investment entities described under paragraph (b) of the definition investment entity , the two entities are under common management and such management fulfils the due diligence obligations of the investment entities). For this purpose, control includes direct or indirect ownership of (a) in the case of a corporation, shares of the capital stock of a corporation that (i) give their holders more than 50% of the votes that could be cast at the annual meeting of the shareholders of the corporation, and (ii) have a fair market value of more than 50% of the fair market value of all the issued and outstanding shares of the capital stock of the corporation; (b) in the case of a partnership, an interest as a member of the partnership that entitles the member to more than 50% of (i) the income or loss of the partnership, or (ii) the assets (net of liabilities) of the partnership if it were to cease to exist; and (c) in the case of a trust, an interest as a beneficiary under the trust with a fair market value that is greater than 50% of the fair market value of all interests as a beneficiary under the trust. ( entité liée )
Income Tax Act — I-3.3 (a)
reportable account means an account that (a) is held by (i) one or more reportable persons, or (ii) by a passive NFE, if one or more controlling persons of the passive NFE is a reportable person; and (b) has been identified as meeting the conditions in paragraph (a) in accordance with the due diligence procedures described in sections 272 to 277. ( compte déclarable )
Income Tax Act — I-3.3
reportable jurisdiction means a jurisdiction other than Canada and the United States of America. ( juridiction soumise à déclaration )
Income Tax Act — I-3.3
reportable jurisdiction person means a natural person or entity that is resident in a reportable jurisdiction under the tax laws of that jurisdiction, or an estate of an individual who was a resident of a reportable jurisdiction under the tax laws of that jurisdiction immediately before death. For this purpose, an entity that has no residence for tax purposes is deemed to be resident in the jurisdiction in which its place of effective management is situated. ( personne d’une juridiction soumise à déclaration )
Income Tax Act — I-3.3 (a)
reportable person means a reportable jurisdiction person other than (a) a corporation the stock of which is regularly traded on one or more established securities markets; (b) any corporation that is a related entity of a corporation described in paragraph (a); (c) a governmental entity; (d) an international organization; (e) a central bank; or (f) a financial institution. ( personne devant faire l’objet d’une déclaration )
Income Tax Act — I-3.3
reporting financial institution means a Canadian financial institution that is not a non-reporting financial institution. ( institution financière déclarante )
Income Tax Act — I-3.3
specified insurance company means any entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, cash value insurance contracts or annuity contracts. ( compagnie d’assurance particulière )
Income Tax Act — I-3.3 (a)
TIN means (a) the number used by the Minister to identify an individual or entity, including (i) a social insurance number, (ii) a business number, and (iii) an account number issued to a trust; and (b) in respect of a jurisdiction other than Canada, a taxpayer identification number used in that jurisdiction to identify an individual or entity (or a functional equivalent in the absence of a taxpayer identification number). ( NIF )
Income Tax Act — I-3.3
USD means dollars of the United States of America. ( USD )
Income Tax Act — I-3.3 272
General due diligence rules 272 (1) An account is treated as a reportable account as of the date it is identified as a reportable account under the due diligence procedures set out in this section and in sections 273 to 277. Timing — determination of balance or value (2) The balance or value of an account is determined on the last day of the calendar year or other appropriate reporting period. Determination — balance or value (3) For the purpose of determining whether the balance or value of an account exceeds a particular threshold on the last day of a calendar year, the balance or value must be determined on the last day of the last reporting period that ends on or before the end of the calendar year. Service provider (4) A reporting financial institution may use service providers to fulfil its reporting and due diligence obligations imposed, but these obligations shall remain the responsibility of the reporting financial institution. Optional due diligence procedures (5) A reporting financial institution may, either with respect to all preexisting accounts or, separately, with respect to any clearly identified group of those accounts, apply the due diligence procedures (a) for new accounts to preexisting accounts (with the other rules for preexisting accounts continuing to apply); and (b) for high value accounts to lower value accounts. Documentation of due diligence procedures (6) Every reporting financial institution shall establish, maintain and document the due diligence procedures set out in this section and sections 273 to 277. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 273
account; and (i) a reporting financial institution must implement procedures to ensure that a relationship manager identifies any change in circumstances of an account. Timing of review (4) Each preexisting individual account must be reviewed in accordance with subsection (2) or (3) before (a) 2019, if the account is a high value account; or (b) 2020, if the account is a lower value account. Reportable preexisting individual accounts (5) Any preexisting individual account that has been identified as a reportable account under this section must be treated as a reportable account in all subsequent years, unless the account holder ceases to be a reportable person. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 274
Due diligence – new individual accounts 274 (1) Upon opening a new individual account, the reporting financial institution must obtain a self-certification (which may be a part of the account opening documentation) that allows the reporting financial institution to (a) determine the account holder’s residence for tax purposes; and (b) confirm the reasonableness of the self-certification taking into account information obtained by the reporting financial institution in connection with the opening of the account, including any documentation collected in accordance with the AML/KYC procedures. Determination of reportable account (2) If the self-certification for a new individual account establishes that the account holder is resident for tax purposes in a reportable jurisdiction, then (a) the reporting financial institution must treat the account as a reportable account; and (b) the self-certification must also include the account holder’s TIN with respect to the reportable jurisdiction (subject to subsection 271(4)) and the account holder’s date of birth. Requirement to obtain new self-certification (3) If there is a change in circumstances with respect to a new individual account that causes the reporting financial institution to know, or have reason to know, that the original self-certification is incorrect or unreliable, then the reporting financial institution (a) cannot rely on the original self-certification; and (b) must obtain a valid self-certification that establishes the residence for tax purposes of the account holder. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 275
rdance with subsection (4) before (a) 2020, if the account has an aggregate account balance or value that exceeds 250,000 USD on June 30, 2017; or (b) the end of the calendar year following the year in which the aggregate account balance or value exceeds 250,000 USD on December 31, if paragraph (a) does not apply. Change of circumstances (6) If there is a change of circumstances with respect to a preexisting entity account that causes the reporting financial institution to know, or have reason to know, that the self-certification or other documentation associated with the account is incorrect or unreliable, the reporting financial institution must redetermine the status of the account in accordance with subsection (4). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 276
Due diligence for new entity accounts 276 For new entity accounts, a reporting financial institution must apply the following review procedures to determine whether the account is held by one or more reportable persons or by passive NFEs with one or more controlling persons who are reportable persons: (a) the reporting financial institution must (i) obtain a self-certification (which may be part of the account opening documentation) that allows the reporting financial institution to determine the account holder’s residence for tax purposes and confirm the reasonableness of the self-certification based on the information obtained by the reporting financial institution in connection with the opening of the account, including any documentation collected in accordance with AML/KYC procedures, and (ii) if the self-certification referred to in subparagraph (i) indicates that the account holder is resident in a reportable jurisdiction, treat the account as a reportable account unless it reasonably determines, based on information in its possession or information that is publicly available, that the account holder is not a reportable person with respect to the reportable jurisdiction; and (b) with respect to an account holder of a new entity account (including an entity that is a reportable person), the reporting financial institution must determine whether the account holder is a passive NFE with one or more controlling persons who are reportable persons and, if so, treat the account as a reportable account and, for the purposes of (i) determining whether the account holder is a passive NFE, the reporting financial institution must obtain a self-certification from the account holder to establish its status, unless it has information in its possession or information is publicly available, based on which it can reasonably determine that the account holder is (A) an active NFE, or (B) a financial institution other than an entity that (I) is an investment entity because of paragraph (b) of that definition, and (II) is not a participating jurisdiction financial institution, (ii) determining the controlling persons of an account holder, a reporting financial institution may rely on information collected and maintained in accordance with AML/KYC procedures, and (iii) determining whether a controlling person of a passive NFE is a reportable person, a reporting financial institution may rely on a self-certification from the account holder or the controlling person. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 277
ed to their interest, and (ii) name beneficiaries for the benefit payable upon the employee’s or certificate holder’s death; and (c) the aggregate amount payable to any employee or certificate holder or beneficiary does not exceed 1 million USD. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 278
Reporting 278 (1) Every reporting financial institution shall file with the Minister, before May 2 of each calendar year, an information return in prescribed form relating to each reportable account maintained by the institution at any time during the immediately preceding calendar year and after June 30, 2017. Electronic filing (2) The information return required under subsection (1) shall be filed by way of electronic filing. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 279
Record keeping 279 (1) Every reporting financial institution shall keep, at the institution’s place of business or at such other place as may be designated by the Minister, records that the institution obtains or creates for the purpose of complying with this Part, including self-certifications and records of documentary evidence. Form of records (2) Every reporting financial institution required by this Part to keep records that does so electronically shall retain them in an electronically readable format for the retention period referred to in subsection (3). Retention of records (3) Every reporting financial institution that is required to keep, obtain or create records under this Part shall retain those records for a period of at least six years following (a) in the case of a self-certification, the last day on which a related financial account is open; and (b) in any other case, the end of the last calendar year in respect of which the record is relevant. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 280
Anti-avoidance 280 If a person enters into an arrangement or engages in a practice, the primary purpose of which can reasonably be considered to be to avoid an obligation under this Part, the person is subject to the obligation as if the person had not entered into the arrangement or engaged in the practice. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3 281
Production of TIN 281 (1) Every reportable person shall provide their TIN at the request of a reporting financial institution that is required under this Part to make an information return requiring the TIN. Confidentiality of TIN (2) A person required to make an information return referred to in subsection (1) shall not knowingly use, communicate or allow to be communicated, otherwise than as required or authorized under this Act or a regulation, the TIN without the written consent of the reportable person. Penalty for failure to provide TIN (3) Every reportable person who fails to provide on request their TIN to a reporting financial institution that is required under this Part to make an information return requiring the TIN is liable to a penalty of $500 for each such failure, unless (a) an application for the assignment of the TIN is made to the relevant reportable jurisdiction not later than 90 days after the request was made and the TIN is provided to the reporting financial institution that requested it within 15 days after the reportable person received it; or (b) the reportable person is not eligible to obtain a TIN from the relevant reportable jurisdiction (including because the relevant reportable jurisdiction does not issue TINs). Assessment (4) The Minister may at any time assess any amount payable under subsection (3) by any person and, if the Minister sends a notice of assessment to the person, sections 150 to 163, subsections 164(1) and (1.4) to (7), sections 165 to 167 and Division J of Part I apply with such modifications as the circumstances require. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 71
Income Tax Act — I-3.3
active seller means a seller that either provides relevant services or sells goods during the reportable period or is paid or credited consideration in connection with relevant activities during the reportable period. ( vendeur actif )
Income Tax Act — I-3.3
consideration means compensation in any form that is paid or credited to a seller in connection with relevant activities, the amount of which is known or reasonably knowable by the platform operator. ( rémunération )
Income Tax Act — I-3.3
entity has the same meaning as in subsection 270(1). ( entité )
Income Tax Act — I-3.3 (a)
excluded platform operator means a platform operator that demonstrates to the satisfaction of the Minister that the platform’s entire business model is such that it does not (a) allow sellers to derive a profit from the consideration; or (b) have reportable sellers. ( opérateur de platforme exclu )
Income Tax Act — I-3.3 (a)
excluded seller means a seller (a) that is an entity for which the platform operator facilitated more than 2,000 relevant services for the rental of immovable property in respect of a property listing during the reportable period; (b) that is a governmental entity (as defined in subsection 270(1)); (c) that is an entity the stock of which is regularly traded on an established securities market (as defined in subsection 270(1)) or a related entity (as defined in subsection 270(1)) of an entity the stock of which is regularly traded on an established securities market; or (d) for which the platform operator solely facilitated less than 30 relevant activities for the sale of goods and for which the total amount of consideration paid or credited did not exceed $2,800 during the reportable period. ( vendeur exclu )
Income Tax Act — I-3.3
fiat currency means a currency that is used by a country and is designated as legal tender in that country. ( monnaie fiduciaire )
Income Tax Act — I-3.3
financial account identifier means the unique identifying number or reference, available to the platform operator, of the bank account or other payment account to which consideration is paid or credited. ( identifiant de compte financier )
Income Tax Act — I-3.3
goods means any tangible property or, for civil law, any corporeal property. ( bien )
Income Tax Act — I-3.3
government verification service means an electronic process made available by a reportable jurisdiction to a platform operator for the purposes of ascertaining the identity and residence of a seller. ( service public de vérification )
Income Tax Act — I-3.3
immovable property means real or immovable property. ( biens immobiliers )
Income Tax Act — I-3.3
partner jurisdiction means each jurisdiction identified as a partner jurisdiction by the Minister on the Internet website of the Canada Revenue Agency or by any other means that the Minister considers appropriate. ( juridiction partenaire )
Income Tax Act — I-3.3
personal service means a service involving time- or task-based work performed by one or more individuals at the request of a user, unless such work is purely ancillary to the overall transaction, but does not include a service provided by a seller pursuant to an employment relationship with the platform operator or a related entity (as defined in subsection 270(1)) of the platform operator. ( service personnel )
Income Tax Act — I-3.3 (a)
platform means a software, including a website or a part of it and applications, including mobile applications, accessible by users and allowing sellers to be connected to other users for the provision of relevant services or the sale of goods, directly or indirectly, to such users (including the collection and payment of consideration in respect of relevant activities), but does not include, in the provision of relevant services or the sale of goods, software exclusively allowing without any further intervention (a) the processing of payments in relation to relevant activities; (b) listing or advertising in relation to relevant activities; or (c) redirecting or transferring of users to a platform. ( plateforme )
Income Tax Act — I-3.3
platform operator means an entity that contracts with sellers to make available all or part of a platform to such sellers. ( opérateur de plateforme )
Income Tax Act — I-3.3 (a)
primary address means (a) in respect of a seller that is an individual (other than a trust), the address of the seller’s principal place of residence; and (b) in respect of a seller that is an entity, the address of the seller’s registered office. ( adresse principale )
Income Tax Act — I-3.3
property listing includes all immovable property units located at the same street address and offered for rent on a platform by the same seller. ( lot )
Income Tax Act — I-3.3 (a)
relevant activity means (a) a relevant service; or (b) the sale of goods for consideration. ( activité visée )
Income Tax Act — I-3.3 (a)
relevant service means, if provided for consideration: (a) the rental of real or immovable property; (b) a personal service; (c) the rental of a means of transport; or (d) a prescribed service. ( service visé )
Income Tax Act — I-3.3 (a)
reportable jurisdiction means (a) for a reporting platform operator described in paragraph (a) of the definition reporting platform operator , Canada and any partner jurisdiction; and (b) in any other case, Canada. ( juridiction soumise à déclaration )
Income Tax Act — I-3.3
reportable period means a calendar year during which a platform operator is a reporting platform operator. ( période de déclaration )
Income Tax Act — I-3.3 (a)
reportable seller means an active seller, other than an excluded seller, that is determined by the platform operator based on the due diligence procedures set out in sections 283 to 287 to (a) be resident in a reportable jurisdiction; (b) have provided relevant services for the rental of immovable property located in a reportable jurisdiction; or (c) have been paid or credited consideration in connection with relevant services for the rental of immovable property located in a reportable jurisdiction. ( vendeur soumis à déclaration )
Income Tax Act — I-3.3 (a)
reporting platform operator means a platform operator, other than an excluded platform operator, if (a) it is resident in Canada; (b) it is resident, incorporated or managed in a partner jurisdiction, facilitates the provision of relevant activities by sellers resident in Canada or with respect to rental of immovable property located in Canada and elects to be a reporting platform operator; or (c) it is not resident in Canada or a partner jurisdiction and it facilitates the provision of relevant activities by sellers resident in Canada or with respect to rental of immovable property located in Canada. ( opérateur de plateforme soumis à déclaration )
Income Tax Act — I-3.3
seller means a platform user that is registered at any time during the reportable period on the platform for the provision of a relevant service or the sale of goods. ( vendeur )