GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — 9002.1
9002.1 For the purpose of paragraph (b) of the definition excluded property in subsection 142.2(1) of the Act, a prescribed payment card corporation share of a taxpayer at any time means a share of the capital stock of a particular corporation if, at that time, (a) the particular corporation is any one of the following (i) MasterCard International Incorporated, (ii) MasterCard Incorporated, (iii) Visa Inc., or (iv) Interac Corp.; and (b) the share (i) is of a class of shares that is not listed on a stock exchange, (ii) is not convertible into or exchangeable for a share of the class of the capital stock of a corporation that is listed on a stock exchange, and (iii) was issued by the particular corporation to the taxpayer or to a person related to the taxpayer. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2009, c. 2, s. 118 SOR/2024-231, s. 35
Income Tax Regulations — 9002.2
9002.2 [Repealed, 2009, c. 2, s. 118] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2009, c. 2, s. 118
Income Tax Regulations — 9003
9003 For the purpose of paragraph 142.2(3)(c) of the Act, a share described in paragraph 9002(2)(b) is prescribed in respect of all taxpayers. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2009, c. 2, s. 118
Income Tax Regulations — 9004
9004 For the purpose of paragraph (c) of the definition specified debt obligation in subsection 142.2(1) of the Act, a property is a prescribed property throughout a taxation year if (a) the property is a direct financing lease, or any other financing arrangement, of a taxpayer that is reported as a loan in the taxpayer’s financial statements for the year prepared in accordance with generally accepted accounting principles; and (b) in computing the taxpayer’s income for the year, an amount is deductible under paragraph 20(1)(a) of the Act in respect of the property that is the subject of the arrangement. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/99-91, s. 8; 2009, c. 2, s. 118
Income Tax Regulations — 9005
9005 For the purposes of the definition non-reporting financial institution in subsection 270(1) of the Act, the following entities are prescribed: (a) a labour-sponsored venture capital corporation as prescribed in section 6701; (b) a registered retirement savings plan; (c) a registered retirement income fund; (d) a pooled registered pension plan; (e) a deferred profit sharing plan; (f) a registered disability savings plan; (g) a registered education savings plan; (h) a registered pension plan; (i) a trust governed by a registered pension plan; (j) a trust described in paragraph 149(1)(o.4) of the Act, if all of the interests in the trust as a beneficiary are held by one or more registered pension plans; (k) a corporation described in clause 149(1)(o.1)(i)(A) or subparagraph 149(1)(o.1)(ii) or (o.2)(i) of the Act; (l) a corporation described in any of subparagraphs 149(1)(o.2)(ii) to (iii) of the Act, if all of the shares of the corporation are held by (i) one or more registered pension plans or trusts governed by registered pension plans, (ii) one or more trusts described in paragraph (j), or (iii) one or more corporations described in this paragraph or paragraph (k); (m) a trust, if all of the interests in the trust as a beneficiary are held by one or more plans, trusts or corporations described in paragraph (i), (k) or (l); (n) a central cooperative credit society , as defined in section 2 of the Cooperative Credit Associations Act and whose accounts are maintained for member financial institutions; (o) a TFSA; and (p) a FHSA. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 83 2024, c. 15, s. 84
Income Tax Regulations — 9006
9006 For the purposes of the definition excluded account in subsection 270(1) of the Act, the following accounts are prescribed: (a) a registered retirement savings plan; (b) a registered retirement income fund; (c) a pooled registered pension plans; (d) a registered pension plan; (e) a registered disability savings plan; (f) a registered education savings plan; (g) a deferred profit sharing plan; (h) a net income stabilization account, including a NISA Fund No. 2; (i) an eligible funeral arrangement; (j) a dormant account if the balance or value of the account does not exceed 1,000 USD; (k) a TFSA; and (l) a FHSA. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 12, s. 83 2024, c. 15, s. 85
Income Tax Regulations — 9100
Definitions 9100 The following definitions apply in this Part. fixed payment obligation , of a taxpayer, means a specified debt obligation under which (a) the amount and timing of each payment (other than a fee or similar payment or an amount payable because of a default by the debtor) to be made by the debtor were fixed when the taxpayer acquired the obligation and have not been changed; and (b) all payments are to be made in the same currency. ( titre à paiements fixes ) primary currency , of a specified debt obligation, means (a) the currency with which the obligation is primarily connected; and (b) if there is no such currency, Canadian currency. ( monnaie principale ) tax basis , of a specified debt obligation at any time to a taxpayer, has the meaning assigned by subsection 142.4(1) of the Act. ( montant de base ) total return , of a taxpayer from a fixed payment obligation, means the amount, measured in the primary currency of the obligation, by which (a) the total of all amounts each of which is the amount of a payment (other than a fee or similar payment) required to be made by the debtor under the obligation after its acquisition by the taxpayer exceeds (b) the cost to the taxpayer of the obligation. ( rendement total ) [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2009-222, s. 7
Income Tax Regulations — (a)
fixed payment obligation , of a taxpayer, means a specified debt obligation under which (a) the amount and timing of each payment (other than a fee or similar payment or an amount payable because of a default by the debtor) to be made by the debtor were fixed when the taxpayer acquired the obligation and have not been changed; and (b) all payments are to be made in the same currency. ( titre à paiements fixes )
Income Tax Regulations — (a)
primary currency , of a specified debt obligation, means (a) the currency with which the obligation is primarily connected; and (b) if there is no such currency, Canadian currency. ( monnaie principale )
Income Tax Regulations — Income Tax Regulations
tax basis , of a specified debt obligation at any time to a taxpayer, has the meaning assigned by subsection 142.4(1) of the Act. ( montant de base )
Income Tax Regulations — (a)
total return , of a taxpayer from a fixed payment obligation, means the amount, measured in the primary currency of the obligation, by which (a) the total of all amounts each of which is the amount of a payment (other than a fee or similar payment) required to be made by the debtor under the obligation after its acquisition by the taxpayer exceeds (b) the cost to the taxpayer of the obligation. ( rendement total )
Income Tax Regulations — 9101
Inclusion 9101 (1) For the purpose of paragraph 142.3(1)(a) of the Act, where a taxpayer holds a specified debt obligation at any time in a taxation year, the amount prescribed in respect of the obligation for the year is the total of (a) the taxpayer’s accrued return from the obligation for the year, (b) if the taxpayer’s accrual adjustment determined under section 9102 in respect of the obligation for the year is greater than nil, the amount of the adjustment, and (c) if a foreign exchange adjustment is determined under section 9104 in respect of the obligation for the year and is greater than nil, the amount of the adjustment. Deduction (2) For the purpose of paragraph 142.3(1)(b) of the Act, where a taxpayer holds a specified debt obligation at any time in a taxation year, the amount prescribed in respect of the obligation is the total of (a) if the taxpayer’s accrual adjustment determined under section 9102 in respect of the obligation for the year is less than nil, the absolute value of the amount of the adjustment, and (b) if a foreign exchange adjustment is determined under section 9104 in respect of the obligation for the year and is less than nil, the absolute value of the amount of the adjustment. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2009-222, s. 7
Income Tax Regulations — 9102
 apply to determine a taxpayer’s accrual adjustment in respect of a specified debt obligation for a particular taxation year, the taxpayer’s accrual adjustment is the positive or negative amount determined by the formula A - B where A is the total of all amounts each of which is the amount that would be the taxpayer’s accrued return from the obligation for a taxation year, before the particular taxation year, for which subsection 142.3(1) of the Act applied to the taxpayer in respect of the obligation if the accrued return were redetermined on the basis of (a) the information available at the end of the particular taxation year, and (b) the assumptions, if any, with respect to the timing and amount of payments to be made under the obligation after the particular taxation year that were used for the purpose of determining the taxpayer’s accrued return from the obligation for the particular taxation year; and B is the total of (a) the amount included under paragraph 9101(1)(a) as the taxpayer’s accrued return from the obligation for the taxation year immediately preceding the particular taxation year, and (b) if the taxpayer’s accrual adjustment in respect of the obligation for that immediately preceding taxation year was determined under this subsection, the value of A for the purpose of determining that accrual adjustment. Special cases and transition (6) The rules in this section for determining accrued returns and accrual adjustments are subject to section 9103. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2009-222, s. 7
Income Tax Regulations — 9104
Obligations held at end of taxation year 9104 (1) For the purposes of paragraphs 9101(1)(c) and (2)(b), if, at the end of a taxation year, a taxpayer holds a specified debt obligation the primary currency of which is not Canadian currency, the taxpayer’s foreign exchange adjustment in respect of the obligation for the taxation year is the positive or negative amount determined by the formula (A × B) - C where A is the amount that would be the tax basis of the obligation to the taxpayer at the end of the year if (a) the tax basis were determined using the primary currency of the obligation as the currency in which all amounts are expressed, (b) the definition tax basis in subsection 142.4(1) of the Act were read without reference to paragraphs (f), (h), (o) and (q), and (c) the taxpayer’s foreign exchange adjustment in respect of the obligation for each year were nil; B is the rate of exchange at the end of the year of the primary currency of the obligation into Canadian currency; and C is the amount that would be the tax basis of the obligation to the taxpayer at the end of the year if (a) the definition tax basis in subsection 142.4(1) of the Act were read without reference to paragraphs (h) and (q), and (b) the taxpayer’s foreign exchange adjustment in respect of the obligation for the year were nil. Disposition of obligation (2) If a taxpayer disposes of a specified debt obligation the primary currency of which is not Canadian currency, the taxpayer’s foreign exchange adjustment in respect of the obligation for the taxation year in which the disposition occurs is the amount that would be the foreign exchange adjustment if the taxation year had ended immediately before the disposition. Disposition of obligation before 1996 (3) At the election of a taxpayer, subsection (2) does not apply to specified debt obligations disposed of by the taxpayer before 1996. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2009-222, s. 7
Income Tax Regulations — 9200
Definitions 9200 (1) The following definitions apply in this Part. gain , of a taxpayer from the disposition of a specified debt obligation, means the gain from the disposition determined under paragraph 142.4(6)(a) of the Act. ( gain ) loss , of a taxpayer from the disposition of a specified debt obligation, means the loss from the disposition determined under paragraph 142.4(6)(b) of the Act. ( perte ) residual portion , of a taxpayer’s gain or loss from the disposition of a specified debt obligation, means the amount determined under subsection 142.4(8) of the Act in respect of the disposition. ( partie résiduelle ) Amortization date (2) For the purposes of this Part, the amortization date for a specified debt obligation disposed of by a taxpayer is the day determined as follows: (a) subject to paragraphs (b) to (d), the amortization date is the later of the day of disposition and the day on which the debtor is required to make the final payment under the obligation, determined without regard to any option respecting the timing of payments under the obligation (other than an option that was exercised before the disposition); (b) subject to paragraphs (c) and (d), the amortization date is the day of disposition if the day on which the debtor is required to make the final payment under the obligation is not determinable for the purpose of paragraph (a); (c) subject to paragraph (d), the amortization date is the first day, if any, after the disposition on which the interest rate could change, if the obligation is one in respect of which the following conditions are satisfied: (i) the obligation provides for stipulated interest payments, (ii) the rate of interest for one or more periods after the issuance of the obligation was not fixed on the day of issue, and (iii) when the obligation was issued, it was reasonable to expect that the interest rate for each period would equal or approximate a reasonable market rate of interest for that period; and (d) if, for purposes of its financial statements, the taxpayer had a gain or loss from the disposition that is being amortized to profit, the amortization date is the last day of the amortization period. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2009-222, s. 7
Income Tax Regulations — Income Tax Regulations
gain , of a taxpayer from the disposition of a specified debt obligation, means the gain from the disposition determined under paragraph 142.4(6)(a) of the Act. ( gain )
Income Tax Regulations — Income Tax Regulations
loss , of a taxpayer from the disposition of a specified debt obligation, means the loss from the disposition determined under paragraph 142.4(6)(b) of the Act. ( perte )
Income Tax Regulations — Income Tax Regulations
residual portion , of a taxpayer’s gain or loss from the disposition of a specified debt obligation, means the amount determined under subsection 142.4(8) of the Act in respect of the disposition. ( partie résiduelle )
Income Tax Regulations — 9201
Transition amount 9201 For the purpose of subsection 142.4(1) of the Act, transition amount , of a taxpayer in respect of the disposition of a specified debt obligation, means, (a) if neither paragraph (b) nor (c) applies, nil; (b) if (i) the taxpayer acquired the obligation before its taxation year that includes February 23, 1994, (ii) neither paragraph 7000(2)(a) nor (b) has applied to the obligation, and (iii) the principal amount of the obligation exceeds the cost of the obligation to the taxpayer (which excess is referred to in this paragraph as the “discount”), the amount determined by the formula A - B where A is the total of all amounts each of which is the amount included in respect of the discount in computing the taxpayer’s profit for a taxation year that ended before February 23, 1994, and B is the total of all amounts each of which is the amount included in respect of the discount in computing the taxpayer’s income for a taxation year that ended before February 23, 1994; and (c) where (i) the conditions in subparagraphs (b)(i) and (ii) are satisfied, and (ii) the cost of the obligation to the taxpayer exceeds the principal amount of the obligation (which excess is referred to in this paragraph as the “premium”), the negative of the amount determined by the formula A - B where A is the total of all amounts each of which is the amount deducted in respect of the premium in computing the taxpayer’s profit for a taxation year that ended before February 23, 1994, and B is the total of all amounts each of which is the amount deducted in respect of the premium in computing the taxpayer’s income for a taxation year that ended before February 23, 1994. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2009-222, s. 7
Income Tax Regulations — 9204
rred before that time; and (c) the specified debt obligation was property used in the business. Non-resident taxpayer (5.1) For the purpose of subsection (5), a non-resident taxpayer is considered to cease to carry on all or substantially all of a business if the taxpayer ceases to carry on, or ceases to carry on in Canada, all or substantially all of the part of the business that was carried on in Canada. Ceasing to be a financial institution (6) There shall be allocated to a particular taxation year of a taxpayer the part, if any, of the residual portion of the taxpayer’s gain or loss that is from a disposition of a specified debt obligation to which subsection 142.4(4) of the Act applies and that was not allocated to a preceding taxation year, if (a) the particular taxation year ends immediately before the time at which the taxpayer ceases to be a financial institution, otherwise than because it has ceased to carry on a business; and (b) the disposition occurred before that time. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2009-222, s. 7; SOR/2009-302, s. 12
Income Tax Regulations — 9300
9300 (1) Subject to subsection (2), for the purpose of section 125.5 of the Act, accredited production means (a) a film or video production in respect of which the aggregate expenditures, included in the cost of the production, in the period that ends 24 months after the time that the principal filming or taping of the production began, exceeds $1,000,000; and (b) a film or video production that is part of a series of television productions that has two or more episodes, or is a pilot programme for such a series of episodes, in respect of which the aggregate expenditures included in the cost of each episode in the period that ends 24 months after the time that the principal filming or taping of the production began exceeds (i) in the case of an episode whose running time is less than 30 minutes, $100,000, and (ii) in any other case, $200,000. (1.1) The references to “24 months” in paragraphs 9300(1)(a) and (b) are to be read as references to “36 months” in respect of film or video productions for which the Canadian labour expenditure of the corporation in respect of the production for the taxation years ending in 2020 or 2021 was greater than nil. (2) An accredited production does not include a production that is any of the following: (a) news, current events or public affairs programming, or a programme that includes weather or market reports; (b) a talk show; (c) a production in respect of a game, questionnaire or contest; (d) a sports event or activity; (e) a gala presentation or awards show; (f) a production that solicits funds; (g) reality television; (h) pornography; (i) advertising; and (j) a production produced primarily for industrial, corporate or institutional purposes. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2005-126, s. 5 2022, c. 10, s. 43
Income Tax Regulations — 9400
9400 [Repealed, 2016, c. 7, s. 59] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2007, c. 35, s. 88; 2014, c. 39, s. 89; 2016, c. 7, s. 59
Income Tax Regulations — 9401
9401 [Repealed, 2016, c. 7, s. 59] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2011, c. 24, s. 99; 2016, c. 7, s. 59
Income Tax Regulations — 9500
Prescribed rights 9500 For the purpose of subparagraph 144.1(2)(g)(iii) of the Act, prescribed payments are payments to General Motors of Canada Limited or Chrysler Canada Inc. by the employee life and health trust established for the benefit of retired automobile industry workers by the Canadian Auto Workers’ Union that (a) are reasonable in the circumstances; (b) are made as consideration for administrative services provided to or on behalf of the trust or its beneficiaries, or as reimbursement for employee benefit payments made on behalf of, or in contemplation of the establishment of, the trust; and (c) the recipient acknowledges in writing shall be included in computing the recipient’s income in the year that they are receivable, to the extent that the recipient deducts in the year, or deducted in a prior year, in computing its income amounts in respect of the services or benefit payments described in paragraph (b). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2010, c. 25, s. 87
Income Tax Regulations — 9600
Prescribed durable goods 9600 For the purpose of the definition teaching supplies in subsection 122.9(1) of the Act, the following are prescribed durable goods: (a) books; (b) games and puzzles; (c) containers (such as plastic boxes or banker boxes); (d) educational support software; (e) calculators (including graphing calculators); (f) external data storage devices; (g) web cams, microphones and headphones; (h) multimedia projectors; (i) wireless pointer devices; (j) electronic educational toys; (k) digital timers; (l) speakers; (m) video streaming devices; (n) printers; and (o) laptop, desktop and tablet computers, provided that none of these items are made available to the eligible educator by their employer for use outside of the classroom. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2016, c. 7, s. 60 2022, c. 5, s. 8