GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 204.85
c)(ii)(B) or (C) applied) of a predecessor corporation, (vi) immediately before the amalgamation or merger, one or more of the predecessor corporations is a corporation that has given notification under subsection 204.81(8.3) and one or more of the predecessor corporations is a registered labour-sponsored venture capital corporation that has not given notification under that subsection; (e) where paragraph (d) does not apply, the new corporation is deemed to be a revoked corporation; (f) subsection 204.82(1) does not apply to the new corporation; and (g) subsection 204.82(2) shall, in its application to the new corporation, be read without reference to the words “that begins after the end of the corporation’s start-up period (or, where the corporation has no start-up period, that begins after the time the corporation first issues a Class A share)”. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 7, Sch. II, s. 164; 1998, c. 19, s. 55; 2000, c. 19, s. 59; 2014, c. 20, s. 25
Income Tax Act — I-3.3 204.86
Return and payment of tax for federally-registered LSVCCs 204.86 (1) Every registered labour-sponsored venture capital corporation and every revoked corporation shall (a) on or before its filing-due date for a taxation year, file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand therefor; (b) estimate in the return the amount of tax and penalties, if any, payable under this Part by it for the year; and (c) on or before its balance-due day for the year, pay to the Receiver General the amount of tax and penalties, if any, payable under this Part by it for the year. Return and payment of tax for other LSVCCs (2) Where tax is payable under this Part for a taxation year by a corporation because of subsection 204.82(5) or 204.85(2), the corporation shall (a) on or before its filing-due date for the year, file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand therefor; (b) estimate in the return the amount of tax payable under this Part by it for the year; and (c) on or before its balance-due day for the year, pay to the Receiver General the amount of tax payable under this Part by it for the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 7, Sch. II, s. 164; 1998, c. 19, s. 56; 2003, c. 15, s. 124
Income Tax Act — I-3.3 204.87
Provisions applicable to Part 204.87 Subsection 150(3), sections 152 and 158, subsections 161(1) and 161(11), sections 162 to 164 and 165 to 167, Division J of Part I and section 227.1 apply to this Part, with such modifications as the circumstances require. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 7, Sch. II, s. 164
Income Tax Act — I-3.3 204.9
iately before the particular time, a beneficiary under the transferor plan and (A) the transferee plan is a plan that allows more than one beneficiary under the plan at any one time, or (B) in any other case, the beneficiary under the transferee plan had not attained 21 years of age at the time the transferee plan was entered into; (d) where subparagraph 204.9(5)(c)(i) or 204.9(5)(c)(ii) applies in respect of the distribution, the amount of the distribution is deemed not to have been withdrawn from the transferor plan; and (e) each subscriber under the transferor plan is deemed to be a subscriber under the transferee plan. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 7, Sch. II, s. 165; 1997, c. 25, s. 57; 1998, c. 19, s. 57; 1999, c. 22, s. 71; 2007, c. 29, s. 27; 2011, c. 24, s. 62; 2013, c. 34, s. 337(F)
Income Tax Act — I-3.3 (a)
excess amount for a year at any time in respect of an individual means (a) for years before 2007, the amount, if any, by which the total of all contributions made after February 20, 1990 in the year and before that time into all registered education savings plans by or on behalf of all subscribers in respect of the individual exceeds the lesser of (i) the RESP annual limit for the year, and (ii) the amount, if any, by which the RESP lifetime limit for the year exceeds the total of all contributions made into registered education savings plans by or on behalf of all subscribers in respect of the individual in all preceding years; and (b) for years after 2006, the amount, if any, by which the total of all contributions made in the year and before that time into all registered education savings plans by or on behalf of all subscribers in respect of the individual exceeds the amount, if any, by which (i) the RESP lifetime limit for the year exceeds (ii) the total of all contributions made into registered education savings plans by or on behalf of all subscribers in respect of the individual in all preceding years. ( excédent )
Income Tax Act — I-3.3 (a)
RESP lifetime limit for a year means (a) for 1990 to 1995, $31,500; (b) for 1996 to 2006, $42,000; and (c) for 2007 and subsequent years, $50,000. ( plafond cumulatif de REEE )
Income Tax Act — I-3.3
subscriber’s gross cumulative excess at any time in respect of an individual means the total of all amounts each of which is the subscriber’s share of the excess amount for a relevant year at that time in respect of the individual and, for the purpose of this definition, a relevant year at any time is a year that began before that time. ( excédent cumulatif brut du souscripteur )
Income Tax Act — I-3.3
subscriber’s share of the excess amount for a year at any time in respect of an individual means the amount determined by the formula (A/B) × C where A is the total of all contributions made after February 20, 1990, in the year and before that time into all registered education savings plans by or on behalf of the subscriber in respect of the individual; B is the total of all contributions made after February 20, 1990, in the year and before that time into all registered education savings plans by or on behalf of all subscribers in respect of the individual; and C is the excess amount for the year at that time in respect of the individual. ( part du souscripteur sur l’excédent )
Income Tax Act — I-3.3 204.91
Tax payable by subscribers 204.91 (1) Every subscriber under a registered education savings plan shall pay a tax under this Part in respect of each month equal to 1% of the amount, if any, by which (a) the total of all amounts each of which is the subscriber’s gross cumulative excess at the end of the month in respect of an individual exceeds (b) the total of all amounts each of which is the portion of such an excess that has been withdrawn from a registered education savings plan before the end of the month. Waiver of tax (2) If a subscriber under a registered education savings plan would, but for this subsection, be required to pay a tax in respect of a month under subsection 204.91(1) in respect of an individual, the Minister may waive or cancel all or part of the tax where it is just and equitable to do so having regard to all the circumstances, including (a) whether the tax arose as a consequence of reasonable error; (b) whether, as a consequence of one or more transactions or events to which subsection 204.9(4) or 204.9(5) applies, the tax is excessive; and (c) the extent to which further contributions could be made into registered education savings plans in respect of the individual before the end of the month without causing additional tax to be payable under this Part if this Part were read without reference to this subsection. Marriage or common-law partnership breakdown (3) If at any time an individual (in this subsection referred to as the “former subscriber”) ceases to be a subscriber under a registered education savings plan as a consequence of the settlement of rights arising out of, or on the breakdown of, the marriage or common-law partnership of the former subscriber and another individual (in this subsection referred to as the “current subscriber”) who is a subscriber under the plan immediately after that time, for the purpose of determining tax payable under this Part in respect of a month that ends after that time, each contribution made before that time into the plan by or on behalf of the former subscriber is deemed to have been made into the plan by the current subscriber and not by or on behalf of the former subscriber. Deceased subscribers (4) For the purpose of applying this section where a subscriber has died, the subscriber’s estate is deemed to be the same person as, and a continuation of, the subscriber for each month that ends after the death. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 7, Sch. II, s. 165; 1998, c. 19, s. 58; 2000, c. 12, s. 142 2024, c. 17, s. 63(F)
Income Tax Act — I-3.3 204.92
Return and payment of tax 204.92 Every person who is liable to pay tax under this Part in respect of a month in a year shall, within 90 days after the end of the year, (a) file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand therefor; (b) estimate in the return the amount of tax, if any, payable under this Part by the person in respect of each month in the year; and (c) pay to the Receiver General the amount of tax, if any, payable by the person under this Part in respect of each month in the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 7, Sch. II, s. 165
Income Tax Act — I-3.3 204.93
Provisions applicable to Part 204.93 Subsections 150(2) and 150(3), sections 152, 158 and 159, subsections 161(1) and 161(11), sections 162 to 167 and Division J of Part I are applicable to this Part, with such modifications as the circumstances require. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 7, Sch. II, s. 165
Income Tax Act — I-3.3 204.94
Definitions 204.94 (1) The definitions in subsection 146.1(1) apply for the purposes of this Part, except that the definition subscriber in that subsection shall be read without reference to paragraph (c). Charging provision (2) Every person (other than a public primary caregiver that is exempt from tax under Part I) shall pay a tax under this Part for each taxation year equal to the amount determined by the formula (A + B - C) × D where A is the total of all amounts each of which is an accumulated income payment made at any time that is (a) either (i) under a registered education savings plan under which the person is a subscriber at that time, or (ii) under a registered education savings plan under which there is no subscriber at that time, where the person has been a spouse or common-law partner of an individual who was a subscriber under the plan, and (b) included in computing the person’s income under Part I for the year; B is the total of all amounts each of which is an accumulated income payment that is (a) not included in the value of A in respect of the person for the year, and (b) included in computing the person’s income under Part I for the year; C is the lesser of (a) the lesser of the value of A in respect of the person for the year and the total of all amounts each of which is an amount deducted under subsection 146(5) or 146(5.1) in computing the person’s income under Part I for the year, and (b) the amount, if any, by which $50,000 exceeds the total of all amounts each of which is an amount determined under paragraph (a) in respect of the person for a preceding taxation year; and D is (a) where a tax, similar to the tax provided under this Part, is payable by the person for the year under a law of the province of Quebec, 12%, and (b) in any other case, 20%. Return and payment of tax (3) Every person who is liable to pay tax under this Part for a taxation year shall, on or before the person’s filing-due date for the year, (a) file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand therefor; (b) estimate in the return the amount of tax payable under this Part by the person for the year; and (c) pay to the Receiver General the amount of tax payable under this Part by the person for the year. Administrative rules (4) Subsections 150(2) and 150(3), sections 152, 155 to 156.1 and 158 to 167 and Division J of Part I apply with any modifications that the circumstances require. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1998, c. 19, s. 59; 1999, c. 22, s. 72; 2000, c. 12, s. 142; 2013, c. 34, s. 338
Income Tax Act — I-3.3 205
cel all or part of the tax if the individual establishes to the satisfaction of the Minister that (a) the cumulative excess amount on which the tax is based arose as a consequence of reasonable error; and (b) reasonable steps are being taken to eliminate the cumulative excess amount. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 205; 2005, c. 30, s. 14; 2007, c. 35, s. 120; 2010, c. 12, s. 20; 2017, c. 33, s. 66 2021, c. 23, s. 49 2024, c. 17, s. 64(F)
Income Tax Act — I-3.3 (a)
ALDA dollar limit , for a calendar year, means (a) for 2020, $150,000; and (b) for each year after 2020, the amount (rounded to the nearest multiple of $10,000, or if that amount is equidistant from two such consecutive multiples, to the higher multiple) that is equal to $150,000 adjusted for each year after 2020 in the manner set out in section 117.1. ( plafond de la RVDAA )
Income Tax Act — I-3.3 (a)
cumulative excess amount , of an individual at any particular time in a calendar year, means the amount determined by the formula A − B where A is the greater of (a) the total of all amounts each of which is an excess ALDA transfer of the individual at or before the particular time, and (b) the amount determined by the formula C − D where C is the total of all amounts each of which is the amount of a transfer at or before the particular time to acquire an advanced life deferred annuity on behalf of the individual, and D is the ALDA dollar limit for the calendar year; and B is the total of all amounts each of which is the amount of a refund described in paragraph (g) of the definition advanced life deferred annuity in subsection 146.5(1) made at or before the particular time on behalf of the individual. ( excédent cumulatif )
Income Tax Act — I-3.3 (a)
excess ALDA transfer , of an individual, means the portion of the amount of a transfer, made from a transferor plan under any of subsections 146(16) and 146.3(14.1) and paragraphs 147(19)(d), 147.3(1)(c) and 147.5(21)(c) to acquire an advanced life deferred annuity on behalf of the individual, determined by the formula A − B where A is the amount of the transfer; and B is the amount determined by the formula 0.25(C + D) − E where C is the total value of the property held for the benefit of the individual under the transferor plan at the end of the calendar year preceding the calendar year in which the transfer is made, other than (a) if the transferor plan is a registered pension plan, property held in connection with (i) a defined benefit provision (as defined in subsection 147.1(1)) of the transferor plan, or (ii) a VPLA fund, as described in subsection 8506(13) of the Income Tax Regulations , (b) if the transferor plan is a pooled registered pension plan, property held in connection with benefits that would be described in paragraph 147.5(5)(a) if the reference in that paragraph to “8506(1)(e.1) or (e.2)” were read as a reference to “8506(1)(e.2)”, (c) if the transferor plan is a registered retirement income fund, contracts for annuities held in connection with the fund other than annuities described in paragraph (b.1) of the definition qualified investment in subsection 146.3(1), and (d) if the transferor plan is a registered retirement savings plan, contracts for annuities held in connection with the plan other than annuities described in paragraph (c.1) of the definition qualified investment in subsection 146(1), D is the total of all amounts each of which is the amount transferred from the transferor plan, in a calendar year preceding the calendar year in which the transfer is made, to acquire an advanced life deferred annuity on behalf of the individual, and E is the total of all amounts each of which is the amount of a previous transfer from the transferor plan to acquire an advanced life deferred annuity on behalf of the individual. ( excédent de transfert au titre de la RVDAA )
Income Tax Act — I-3.3 206
Return and payment of tax 206 (1) Every person who is liable to pay tax under this Part for all or part of a calendar year shall, (a) on or before the person’s filing-due date for the year, file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand; and (b) on or before the person’s balance-due day for the year, pay to the Receiver General the amount of tax payable under this Part by the person for the year. Provisions applicable to Part (2) Subsections 150(2) and (3), sections 152 and 158 to 167 and Division J of Part I apply with any modifications that the circumstances require. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 206; 1994, c. 7, Sch. II, s. 166, Sch. VIII, s. 120, c. 21, s. 93; 1998, c. 19, s. 210; 2000, c. 14, s. 41, c. 19, s. 60; 2001, c. 17, ss. 169, 247; 2005, c. 30, s. 14; 2007, c. 35, s. 120; 2017, c. 33, s. 66 2021, c. 23, s. 49
Income Tax Act — I-3.3 206.1
206.1 [Repealed, 2017, c. 33, s. 66] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 206.1; 1994, c. 7, Sch. II, s. 167; 1998, c. 19, s. 211; 2005, c. 30, s. 14; 2007, c. 35, s. 120; 2017, c. 33, s. 66
Income Tax Act — I-3.3 206.2
206.2 [Repealed, 2017, c. 33, s. 66] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2007, c. 35, s. 120; 2017, c. 33, s. 66
Income Tax Act — I-3.3 206.3
206.3 [Repealed, 2017, c. 33, s. 66] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2007, c. 35, s. 120; 2017, c. 33, s. 66
Income Tax Act — I-3.3 206.4
206.4 [Repealed, 2017, c. 33, s. 66] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2007, c. 35, s. 120; 2017, c. 33, s. 66
Income Tax Act — I-3.3 207
207 [Repealed, 2017, c. 33, s. 66] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 207; 2005, c. 30, s. 14; 2007, c. 35, s. 120; 2010, c. 25, s. 56; 2017, c. 33, s. 66
Income Tax Act — I-3.3 (a)
e controlling individual of the registered plan, or by a person who does not deal at arm’s length with the controlling individual (if it is reasonable to consider, having regard to all the circumstances, that the amount was paid in relation to, or would not have been paid but for, property held in connection with the registered plan) and the amount was paid as, on account or in lieu of, or in satisfaction of, a payment (A) for services provided by a person who is, or who does not deal at arm’s length with, the controlling individual of the registered plan, or (B) of interest, of a dividend, of rent, of a royalty or of any other return on investment, or of proceeds of disposition, or (iii) a deliberate over-contribution; (d) a registered plan strip in respect of the registered plan; and (e) a prescribed benefit. ( avantage )
Income Tax Act — I-3.3
allowable refund of a person for a calendar year means the total of all amounts each of which is a refund, for the year, to which the person is entitled under subsection 207.04(4). ( remboursement admissible )
Income Tax Act — I-3.3 (a)
controlling individual , of a registered plan, means (a) the holder of a TFSA; (b) a holder of a RDSP; (c) a subscriber of a RESP; (d) the annuitant of a RRIF or RRSP; or (e) the holder of a FHSA. ( particulier contrôlant )
Income Tax Act — I-3.3
deliberate over-contribution of an individual means a contribution made under a TFSA by the individual that results in, or increases, an excess TFSA amount, unless it is reasonable to conclude that the individual neither knew nor ought to have known that the contribution could result in liability for a penalty, tax or similar consequence under this Act. ( cotisation excédentaire intentionnelle )
Income Tax Act — I-3.3 (a)
designated amount of an individual means an amount, not exceeding the excess FHSA amount of the individual, designated by the individual in the prescribed form and manner that is (a) a transfer in accordance with subparagraph 146.‍6(7)‍(b)‍(ii), to the extent that it does not exceed the total of all amounts transferred under paragraph 146(16)‍(a.‍2) to a FHSA under which the individual is the holder on or before the date of the designation less the total of all amounts previously designated under this paragraph; or (b) a withdrawal from a FHSA under which the individual is the holder, to the extent that it does not exceed the total of all amounts contributed to a FHSA under which the individual is the holder on or before the date of the designation less the total of all amounts previously designated under this paragraph. ( montant désigné )
Income Tax Act — I-3.3 (a)
equity , of a corporation, trust or partnership, means (a) in the case of a corporation, a share of the capital stock of the corporation; (b) in the case of a trust, an income or capital interest in the trust; and (c) in the case of a partnership, an interest as a member of the partnership. ( droit sur l’actif )