Income Tax Act — I-3.3 56
under subsection 70(2) to be included in computing the income for the year by the taxpayer or other person resident in Canada; Pooled registered pension plan (z.3) any amount required by section 147.5 to be included in computing the taxpayer’s income for the year other than an amount distributed under a PRPP as a return of all or a portion of a contribution to the plan to the extent that the amount (i) is a payment described under clause 147.5(3)(d)(ii)(A) or (B), and (ii) is not deducted in computing the taxpayer’s income for the year or a preceding taxation year; Tax informant program (z.4) any amount received in the year by the taxpayer under a contract, to provide information to the Canada Revenue Agency, entered into by the taxpayer under a program administered by the Canada Revenue Agency to obtain information relating to tax non-compliance; Advanced life deferred annuity (z.5) any amount required by section 146.5 to be included in computing the taxpayer’s income for the year; and First home savings account (z.6) any amount required by section 146.6 to be included in computing the taxpayer’s income for the year. Application of s. 12.2(11) (1.1) The definitions in subsection 12.2(11) apply to paragraph 56(1)(d). Indirect payments (2) A payment or transfer of property made pursuant to the direction of, or with the concurrence of, a taxpayer to another person for the benefit of the taxpayer or as a benefit that the taxpayer desired to have conferred on the other person (other than by an assignment of any portion of a retirement pension under section 65.1 of the Canada Pension Plan or a comparable provision of a provincial pension plan as defined in section 3 of that Act) shall be included in computing the taxpayer’s income to the extent that it would be if the payment or transfer had been made to the taxpayer. Exemption for scholarships, fellowships, bursaries and prizes (3) For the purpose of subparagraph (1)(n)(ii), a taxpayer’s scholarship exemption for a taxation year is the total of (a) the total of all amounts each of which is the amount included under subparagraph (1)(n)(i) in computing the taxpayer’s income for the taxation year in respect of a scholarship, fellowship or bursary received in connection with the taxpayer’s enrolment (i) in an educational program in respect of which the taxpayer is a qualifying student (as defined in subsection 118.6(1)) in the taxation year, in the immediately preceding taxation year or in the following taxation year, or (ii) in an elementary or secondary school educational program, (b) the total of all amounts each of which is the lesser of (i) the amount included under subparagraph (1)(n)(i) in computing the taxpayer’s income for the taxation year in respect of a scholarship, fellowship, bursary or prize that is to be used by the taxpayer in the production of a literary, dramatic, musical or artistic work, and (ii) the total of all amounts each of which is an expense incurred by the taxpayer in the taxation year for the purpose of fulfilling the conditions under which the amount described in subparagraph (i) was received, other than (A) personal or living expenses of the taxpayer (except expenses in respect of travel, meals and lodging incurred by the taxpayer in the course of fulfilling those conditions and while absent from the taxpayer’s usual place of residence for the period to which the scholarship, fellowship, bursary or prize, as the case may be, relates), (B) expenses for which the taxpayer is entitled to be reimbursed, and (C) expenses that are otherwise deductible in computing the taxpayer’s income, and (c) the lesser of $500 and the amount by which the total described in subparagraph (1)(n)(i) for the taxation year exceeds the total of the amounts determined under paragraphs (a) and (b). Limitations of scholarship exemption (3.1) For the purpose of determining the total in paragraph (3)(a) for a taxation year, (a) a scholarship, fellowship or bursary (in this subsection