Income Tax Act — I-3.3 248
e meaning assigned by section 95; ( revenu étranger accumulé, tiré de biens ) foreign affiliate has the meaning assigned by subsection 95(1); ( société étrangère affiliée ) foreign currency means currency of a country other than Canada; ( monnaie étrangère ) foreign currency debt has the meaning assigned by subsection 111(8); ( dette en monnaie étrangère ) foreign exploration and development expenses has the meaning assigned by subsection 66(15); ( frais d’exploration et d’aménagement à l’étranger ) foreign resource expense has the meaning assigned by subsection 66.21(1); ( frais relatifs à des ressources à l’étranger ) foreign resource pool expenses of a taxpayer means the taxpayer’s foreign resource expenses in respect of all countries and the taxpayer’s foreign exploration and development expenses; ( frais globaux relatifs à des ressources à l’étranger ) foreign resource property has the meaning assigned by subsection 66(15), and a foreign resource property in respect of a country means a foreign resource property that is (a) a right, licence or privilege to explore for, drill for or take petroleum, natural gas or related hydrocarbons in that country, (b) a right, licence or privilege to (i) store underground petroleum, natural gas or related hydrocarbons in that country, or (ii) prospect, explore, drill or mine for minerals in a mineral resource in that country, (c) an oil or gas well in that country or real or immovable property in that country the principal value of which depends on its petroleum or natural gas content (but not including depreciable property), (d) any right to a rental or royalty computed by reference to the amount or value of production from an oil or gas well in that country, or from a natural accumulation of petroleum or natural gas in that country, if the payer of the rental or royalty has an interest in, or for civil law a right in, the well or accumulation, as the case may be, and 90% or more of the rental or royalty is payable out of, or from the proceeds of, the production from the well or accumulation, (e) any right to a rental or royalty computed by reference to the amount or value of production from a mineral resource in that country, if the payer of the rental or royalty has an interest in, or for civil law a right in, the mineral resource and 90% or more of the rental or royalty is payable out of, or from the proceeds of, the production from the mineral resource, (f) a real or immovable property in that country the principal value of which depends upon its mineral resource content (but not including depreciable property), (g) a right to or an interest in — or for civil law a right to or in — any property described in any of paragraphs (a) to (e), other than a right or an interest that the taxpayer has because the taxpayer is a beneficiary under a trust or a member of a partnership, or (h) an interest in real property described in paragraph (f) or a real right in an immovable described in that paragraph, other than an interest or a right that the taxpayer has because the taxpayer is a beneficiary under a trust or a member of a partnership; ( avoir minier étranger ) foreign retirement arrangement means a prescribed plan or arrangement; ( mécanisme de retraite étranger ) former business property , in respect of a taxpayer, means a capital property of the taxpayer that was used by the taxpayer or a person related to the taxpayer primarily for the purpose of gaining or producing income from a business, and that was real or immovable property of the taxpayer, an interest of the taxpayer in real property, a right of the taxpayer in an immovable or a property that is the subject of an election under subsection 13(4.2), but does not include (a) a rental property of the taxpayer, (b) land subjacent to a rental property of the taxpayer, (c) land contiguous to land referred to in paragraph (b) that is a parking area, driveway, yard or garden or that is otherwise necessary for the use of the rental prope