Income Tax Regulations — 8600
8600 For the purposes of this Part and Part I.3 of the Act, attributed surplus of a non-resident insurer for a taxation year has the meaning assigned by subsection 2400(1); ( surplus attribué ) Canadian assets of a corporation that is a financial institution (as defined in subsection 181(1) of the Act) at any time in a taxation year means, in respect of the year, the amount, if any, by which (a) the total of all amounts each of which is the amount at which an asset of the corporation (which asset is required, or, if the corporation were a bank to which the Bank Act applied, would be required, to be reflected in a return under subsection 223(1) of the Bank Act , as that Act read on May 31, 1992, if that return were prepared on a non-consolidated basis) would be shown on the corporation’s balance sheet at the end of the year if its balance sheet were prepared on a non-consolidated basis exceeds (b) the investment allowance of the corporation for the year determined under subsection 181.3(4) of the Act; ( actif canadien ) (c) [Repealed, 2013, c. 33, s. 38] Canadian premiums for a taxation year, in respect of an insurance corporation that was resident in Canada at any time in the year and throughout the year did not carry on a life insurance business, means the total of the insurance corporation’s net premiums for the year (a) in respect of insurance on property situated in Canada, and (b) in respect of insurance, other than on property, from contracts with persons resident in Canada, and, for the purposes of this definition, net premiums has the same meaning as in subsection 403(2), and subsection 403(3) applies as if the references therein to “province” were read as references to “country”; ( primes canadiennes ) Canadian reserve liabilities of an insurer as at the end of a taxation year has the meaning assigned by subsection 2400(1); ( (passif de réserve canadienne) ) contractual service margin for a group of insurance contracts of an insurer, or a group of reinsurance contracts held by the insurer, at the end of a taxation year, has the same meaning as in subsection 138(12) of the Act; ( marge sur services contractuels ) group of insurance contracts of an insurer has the same meaning as in subsection 138(12) of the Act; ( groupe de contrats d’assurance ) group of reinsurance contracts held by an insurer has the same meaning as in subsection 138(12) of the Act; ( groupe de contrats de réassurance ) group of segregated fund policies of an insurer has the same meaning as in subsection 138(12) of the Act; ( groupe de polices à fonds réservé ) permanent establishment has the same meaning as in subsection 400(2); ( établissement stable ) policyholders’ liabilities of an insurer at the end of a taxation year has the same meaning as in subsection 138(12) of the Act; ( obligation envers les titulaires de polices ) reinsurance contract held amount for a group of reinsurance contracts held by an insurer at the end of a taxation year has the same meaning as in subsection 138(12) of the Act; ( montant au titre des contrats de réassurance détenus ) total assets of a corporation that is a financial institution (as defined in subsection 181(1) of the Act) at any time in a taxation year means, in respect of that year, the amount, if any, by which (a) the total of all amounts each of which is the amount at which an asset of the corporation would be shown on the corporation’s balance sheet at the end of the year if its balance sheet were prepared on a non-consolidated basis exceeds (b) the investment allowance of the corporation for the year determined under subsection 181.3(4) of the Act; ( actif total ) total premiums for a taxation year, in respect of an insurance corporation that was resident in Canada at any time in the year and throughout the year did not carry on a life insurance business, means the total of the corporation’s net premiums for the year (as defined in subsection 403(2)) that are included in computing its income under Part I