GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — 2101
2101 Any election under subsection 83(2) of the Act in respect of a dividend payable by a private corporation shall be made by filing with the Minister the following documents: (a) the form prescribed by the Minister; (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made; (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation; (d) where the election has been made under subsection 83(2) of the Act and paragraph (e) is not applicable, schedules showing the computation of the amount, immediately before the election, of the corporation’s (i) capital dividend account, and (ii) 1971 undistributed income on hand, if any, if the dividend was payable on or prior to March 31, 1977; and (e) where the election has been made under subsection 83(2) of the Act and subsection 83(3) of the Act is applicable, schedules showing the computation of the amount, immediately before the dividend became payable, of the corporation’s (i) capital dividend account, and (ii) 1971 undistributed income on hand, if any, if the dividend was payable on or prior to March 31, 1977. (f) and (g) [Repealed, SOR/88-165, s. 12] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-604, s. 1; SOR/83-268, s. 3; SOR/84-948, s. 10; SOR/88-165, s. 12; SOR/94-686, s. 79(F)
Income Tax Regulations — 2102
2102 (1) [Repealed, SOR/80-140, s. 3] (2) Any retroactive election by a corporation under subsection 196(1.1) of the Act, in respect of a dividend payable before 1979 in respect of which an election was made under section 83 of the Act, shall be made by filing with the Minister the following documents: (a) the form prescribed by the Minister; (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made; (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation; and (d) a schedule showing the computation of the amount, immediately before the time immediately before the specified election referred to in subsection 196(1.1) of the Act was made, of the corporation’s 1971 undistributed income on hand. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-140, s. 3; SOR/83-268, s. 4; SOR/94-686, s. 79(F)
Income Tax Regulations — 2103
2103 [Repealed, SOR/78-604, s. 2] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-604, s. 2
Income Tax Regulations — 2104
2104 Any election under subsection 131(1) of the Act in respect of a dividend payable by a mutual fund corporation or an investment corporation shall be made by filing with the Minister the following documents: (a) the form prescribed by the Minister; (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made; (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation; (d) where paragraph (f) is not applicable, a schedule showing the computation of the amount, immediately before the election, of the corporation’s capital gains dividend account; and (e) [Repealed, SOR/88-165, s. 13] (f) where subsection 131(1.1) of the Act is applicable, a schedule showing the computation of the amount, immediately before the earlier of (i) the date the dividend became payable, and (ii) the first day on which any part of the dividend was paid, of the corporation’s capital gains dividend account. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-704, s. 1; SOR/83-268, s. 5; SOR/88-165, s. 13; SOR/94-686, ss. 71(F), 79(F)
Income Tax Regulations — 2104.1
2104.1 Any election under subsection 130.1(4) of the Act in respect of a dividend payable by a mortgage investment corporation shall be made by filing with the Minister the following documents: (a) the documents referred to in paragraphs 2104(a) to (c); and (b) a schedule showing the computation of the capital gains dividend in accordance with paragraph 130.1(4)(a) of the Act. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/88-165, s. 14; SOR/94-686, ss. 72(F), 79(F)
Income Tax Regulations — 2105
2105 Any election under subsection 133(7.1) of the Act in respect of a dividend payable by a non-resident-owned investment corporation shall be made by filing with the Minister the following documents: (a) the form prescribed by the Minister; (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made; (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation; (d) where paragraph (e) is not applicable, a schedule showing the computation of the amount, immediately before the election, of the corporation’s capital gains dividend account; and (e) where subsection 133(7.3) of the Act is applicable, a schedule showing the computation of the amount, immediately before the earlier of (i) the date the dividend became payable, and (ii) the first day on which any part of the dividend was paid, of the corporation’s capital gains dividend account. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-704, ss. 2, 3; SOR/83-268, s. 6; SOR/94-686, s. 79(F)
Income Tax Regulations — 2106
2106 Any election under subsection 184(3) of the Act in respect of a dividend that was paid or payable by a corporation shall be made by (a) filing with the Minister the following documents: (i) a letter stating that the corporation elects under subsection 184(3) of the Act in respect of the said dividend, (ii) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of (A) their resolution authorizing the election to be made, and (B) their declaration that the election is made with the concurrence of all shareholders who received or were entitled to receive all or any portion of the said dividend and whose addresses were known to the corporation, (iii) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of (A) the authorization of the making of the election, and (B) the declaration that the election is made with the concurrence of all shareholders who received or were entitled to receive all or any portion of the said dividend and whose addresses were known to the corporation by the person or persons legally entitled to administer the affairs of the corporation, (iv) a schedule showing the following information: (A) the date of the notice of assessment of the tax that would, but for the election, have been payable under Part III of the Act, (B) the full amount of the said dividend, (C) the date the said dividend became payable, or the first day on which any part of the said dividend was paid if that day is earlier, (D) the portion, if any, of the said dividend described in paragraph 184(3)(a) of the Act, (E) the portion, if any, of the said dividend that the corporation is claiming for the purposes of an election in respect thereof under subsection 83(1) or (2), 130.1(4) or 131(1) of the Act pursuant to paragraph 184(3)(b) of the Act, and (F) the portion, if any, of the said dividend that is deemed by paragraph 184(3)(c) of the Act to be a separate dividend that is a taxable dividend; and (b) making an election in prescribed manner and prescribed form in respect of any amount claimed under paragraph 184(3)(b) of the Act. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-347, s. 1; SOR/83-268, s. 7; SOR/88-165, s. 31(F); SOR/94-686, s. 79(F)
Income Tax Regulations — 2107
2107 The following series of classes of capital stock are hereby prescribed for the purposes of subsection 83(6) of the Act to be tax-deferred preferred series: (a) The Algoma Steel Corporation, Limited, 8% Tax Deferred Preference Shares Series A; (b) Aluminum Company of Canada, Limited, $2.00 Tax Deferred Retractable Preferred Shares; (c) Brascan Limited, 8 1/2% Tax Deferred Preferred Shares Series A; (d) Canada Permanent Mortgage Corporation, 6 3/4% Tax Deferred Convertible Preference Shares Series A; and (e) Cominco Ltd., $2.00 Tax Deferred Exchangeable Preferred Shares Series A. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-604, s. 3
Income Tax Regulations — 2200
2200 Where, under subsection 220(4) of the Act, the Minister has accepted, as security for payment of taxes, a mortgage or other security or guarantee, he may, by a document in writing, discharge such mortgage or other security or guarantee. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/94-686, s. 62
Income Tax Regulations — 2201
2201 (1) For the purpose of subsection 227(4.2) of the Act, prescribed security interest , in relation to an amount deemed by subsection 227(4) of the Act to be held in trust by a person, means that part of a mortgage securing the performance of an obligation of the person, that encumbers land or a building, where the mortgage is registered pursuant to the appropriate land registration system before the time the amount is deemed to be held in trust by the person. (2) For the purpose of subsection (1), where, at any time after 1999, the person referred to in subsection (1) fails to pay an amount deemed by subsection 227(4) of the Act to be held in trust by the person, as required under the Act, the amount of the prescribed security interest referred to in subsection (1) is deemed not to exceed the amount by which the amount, at that time, of the obligation outstanding secured by the mortgage exceeds the total of (a) all amounts each of which is the value determined at the time of the failure, having regard to all the circumstances including the existence of any deemed trust for the benefit of Her Majesty pursuant to subsection 227(4) of the Act, of all the rights of the secured creditor securing the obligation, whether granted by the person or not, including guarantees or rights of set-off but not including the mortgage referred to in subsection (1), and (b) all amounts applied after the time of the failure on account of the obligation, so long as any amount deemed under any enactment administered by the Minister, other than the Excise Tax Act , to be held in trust by the person, remains unpaid. (3) For greater certainty, a prescribed security interest includes the amount of insurance or expropriation proceeds relating to land or a building that is the subject of a registered mortgage interest, adjusted after 1999 in accordance with subsection (2), but does not include a lien, a priority or any other security interest created by statute, an assignment or hypothec of rents or leases, or a mortgage interest in any equipment or fixtures that a mortgagee or any other person has the right absolutely or conditionally to remove or dispose of separately from the land or building. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/99-322, s. 2
Income Tax Regulations — 2300
2300 Any election by a taxpayer under subparagraph 40(2)(c)(ii) of the Act shall be made by attaching to the return of income required by section 150 of the Act to be filed by him for his taxation year in which the disposition of the land, including the property that was his principal residence, occurred, a letter signed by the taxpayer (a) stating that he is electing under that subparagraph; (b) stating the number of taxation years ending after the acquisition date (within the meaning assigned by paragraph 40(2)(b) of the Act) for which the property was his principal residence and during which he was resident in Canada; and (c) giving a description of the property sufficient to identify it with the property designated as his principal residence. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/80-681, s. 1
Income Tax Regulations — 2301
2301 Any designation by a taxpayer under subparagraph 54(g)(iii) of the Act shall be made in the return of income required by section 150 of the Act to be filed by him for any taxation year of the taxpayer in which (a) he has disposed of a property that is to be designated as his principal residence; or (b) he has granted an option to acquire such property.
Income Tax Regulations — 2400
(1), an asset of an insurer is deemed not to have been used or held by the insurer in a taxation year in the course of carrying on an insurance business if the asset (a) is owned by the insurer at the end of the year; and (b) is (i) goodwill, or (ii) of the Act if the obligations were insurance policies in Canada, or (ii) real property (or the portion of real property) owned by the insurer and occupied by the insurer for the purposes of carrying on an insurance business. No Double Counting (7) For greater certainty, a particular property or a particular proportion of a property shall not, directly or indirectly, be used or included more than once in determining, for a particular taxation year, the Canadian equity property or the equity property of a person or partnership. Transition Year (8) A computation that is required to be made under this Part in respect of an insurer’s taxation year that included September 30, 2006 and that is relevant to a computation (in this subsection referred to as the “transition year computation”) that is required to be made under this Part in respect of the insurer’s first taxation year that begins after that date shall, for the purposes only of the transition year computation, be made using the same definitions, rules and methodologies that are used in the transition year computation. (9) A computation that is required to be made under this Part in respect of an insurer’s taxation year that included December 31, 2010 and that is relevant to a computation (in this subsection referred to as the “transition year computation”) that is required to be made under this Part in respect of the insurer’s first taxation year that begins after that date shall, for the purposes only of the transition year computation, be made using the same definitions, rules and methodologies that are used in the transition year computation. (10) A computation that is required to be made under this Part in respect of an insurer’s taxation year that immediately precedes the first taxation year that begins after 2022 and that is relevant to a computation (in this subsection referred to as the “transition year computation”) that is required to be made under this Part in respect of the insurer’s first taxation year that begins after 2022 shall, for the purposes only of the transition year computation, be made using the same definitions, rules and methodologies that are used in the transition year computation. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/79-670, s. 4; SOR/88-392, s. 4; SOR/90-661, s. 6; SOR/94-686, ss. 55(F), 62, 79(F); SOR/2000-413, s. 2; 2009, c. 2, s. 102; 2010, c. 25, s. 81; SOR/2011-188, s. 15 2022, c. 19, s. 85 2023, c. 26, s. 102
Income Tax Regulations — (a)
attributed surplus of a non-resident insurer for a taxation year is the total of (a) the insurer’s property and casualty surplus for the year, and (b) either, (i) if the insurer elects for the year in prescribed form and manner, 50% of the total of (A) the amount that would have been determined at the end of the year in respect of the insurer under subparagraph (a)(ii) of the definition Canadian investment fund , and (B) the amount that would have been determined at the end of the preceding taxation year in respect of the insurer under subparagraph (a)(ii) of the definition Canadian investment fund , each amount being calculated as if throughout the year and the preceding taxation year the insurer had been a life insurer resident in Canada and had not carried on any insurance business other than a life insurance business or an accident and sickness insurance business, or (ii) if the insurer does not elect under subparagraph (i) for the year, 120% of the total of all amounts each of which is 50% of the amount determined in accordance with regulations or guidelines made under Part XIII of the Insurance Companies Act to be the margin of assets in Canada over liabilities in Canada required to be maintained by the insurer as at the end of the year or as at the end of the preceding taxation year in respect of an insurance business carried on in Canada (other than a property and casualty insurance business). ( surplus attribué )
Income Tax Regulations — (a)
Canadian business property of an insurer for a taxation year in respect of an insurance business means (a) if the insurer was resident in Canada throughout the year and did not carry on an insurance business outside Canada in the year, property used or held by it in the year in the course of carrying on the business in Canada; and (b) in any other case, designated insurance property of the insurer for the year in respect of the business. ( bien d’entreprise canadien )
Income Tax Regulations — (a)
Canadian equity property of a person or partnership (in this definition referred to as the taxpayer ) at any time means property of the taxpayer that is (a) a share of the capital stock of, or an income bond or income debenture issued by, a person (other than a corporation affiliated with the taxpayer) resident in Canada or a Canadian partnership; or (b) that proportion of property that is shares of the capital stock of an entity that is a corporation affiliated with the taxpayer or an interest in an entity that is a partnership or trust that (i) the total value for the taxation year or fiscal period of the entity that includes that time of Canadian equity property of the entity is of (ii) the total value for the year or period of all property of the entity. ( avoir canadien )
Income Tax Regulations — (a)
 the total of (I) 8% of the amount determined under subparagraph (i), and (II) the total of all amounts each of which is an amount of a deferred realized net gain or an amount expressed as a negative number of a deferred realized net loss of the insurer as at the end of the year in respect of an insurance business carried on by the insurer in Canada, (B) the amount, if any, by which the total of (I) the amount of the insurer’s surplus funds derived from operations as at the end of its preceding taxation year, (II) the total determined under subclause (A)(II) to the extent not included in subclause (I), and (III) the total of all amounts in respect of which the insurer made an election under subsection 219(4) or (5.2) of the Act, each of which is an amount included in the total determined in respect of the insurer under subparagraph 219(4)(a)(i.1) of the Act as at the end of its preceding taxation year exceeds (IV) the total of amounts determined in respect of the insurer under subparagraphs 219(4)(a)(ii), (iii), (iv) and (v) of the Act, as at the end of the year, and (C) the total of (I) the amount of the insurer’s attributed surplus for the year, and (II) if the amount under subclause (I) was determined without the taxpayer electing under subparagraph (b)(i) of the definition attributed surplus , the amount determined under subclause (A)(II). ( fonds de placement canadien )
Income Tax Regulations — (a)
Canadian investment property of an insurer for a taxation year means an investment property of the insurer for the year (other than, if the insurer is non-resident, property established by the insurer as not being effectively connected with its insurance businesses carried on in Canada in the year) that is, at any time in the year, (a) real property situated in Canada; (b) depreciable property situated in Canada or leased to a person resident in Canada for use inside and outside of Canada; (c) a mortgage, a hypothec, an agreement of sale or any other form of indebtedness in respect of property described in paragraph (a) or (b); (d) a Canadian equity property; (e) a Canadian resource property; (f) a deposit balance of the insurer that is in Canadian currency; (g) a bond, debenture or other form of indebtedness, in Canadian currency, issued by (i) a person resident in Canada or a Canadian partnership, or (ii) the government of Canada, a province or any of their political subdivisions; (h) a property that is (i) a share of the capital stock of a corporation resident in Canada that is affiliated with the insurer, if at least 75% of the total value for the year of all property of the corporation is attributable to property that would be Canadian investment property if it were owned by an insurer, or (ii) an interest in a Canadian partnership, or a trust resident in Canada, if at least 75% of the total value for the year of all property of the partnership or trust, as the case may be, is attributable to property that would be Canadian investment property if it were owned by an insurer; or (i) an amount due or an amount accrued to the insurer on account of income that (i) is from designated insurance property for the year that is Canadian investment property of the insurer for the year because of any of paragraphs (a) to (h), and (ii) is supporting the insurer’s Canadian insurance contract liabilities for the year. ( bien de placement canadien )
Income Tax Regulations — Income Tax Regulations
Canadian outstanding premiums [Repealed, 2022, c. 19, s. 85]
Income Tax Regulations — (a)
o portion of the contractual service margin for the group is in respect of a risk under a policy other than a policy that meets the conditions in subparagraphs (a)(i) to (iii) of the description of B, the contractual service margin for the group, and (b) in any other case, the amount that would be the contractual service margin for the group if the amount were determined excluding any portion that is in respect of the reinsurance of a risk under a policy other than a policy that meets the conditions in subparagraphs (a)(i) to (iii) of the description of B. ( passif de réserve canadienne )
Income Tax Regulations — Income Tax Regulations
deposit balance of an insurer means an amount standing to the insurer’s credit as or on account of amounts deposited with a corporation authorized to accept deposits or to carry on the business of offering to the public its services as a trustee. ( solde de dépôt )