GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
foreign hybrid mismatch rule means a provision, under the tax laws of a country other than Canada, that can reasonably be considered to (a) have an effect that is substantially similar to that of a provision under this section, section 12.7 or subsection 113(5); or (b) have been enacted or otherwise brought into effect by the country with the intention of implementing, in whole or in part, Neutralising the Effects of Hybrid Mismatch Arrangements, Action 2 – 2015 Final Report published by the Organisation for Economic Co-operation and Development, as amended from time to time. ( règle étrangère d’asymétrie hybride )
Income Tax Act — I-3.3 (a)
foreign ordinary income , of an entity for a foreign taxation year in respect of a payment, means an amount that is determined by the formula A − B − C − D − E − F where A is an amount (referred to in this definition as the “relevant amount”) that is included in respect of the payment in computing relevant foreign income or profits of the entity for the year (other than income or profits in respect of which the entity is subject to a tax substantially similar to tax under Part XIII, or a tax under a controlled foreign company tax regime or a specified minimum tax regime) because the entity is a recipient of the payment or has a direct or indirect equity interest in a recipient of the payment; B is (a) if the relevant amount is included in computing relevant foreign income or profits in respect of which the entity is subject to an income or profits tax that is charged at a nil rate, the relevant amount, or (b) in any other case, nil; C is any portion of the relevant amount that is included in computing relevant foreign income or profits of the entity for the year because of any foreign hybrid mismatch rule (other than any rule that is substantially similar in effect to subsection 113(5)); D is any portion of the relevant amount that can reasonably be considered to be excluded, reduced, offset or otherwise effectively sheltered from income or profits tax by reason of any exemption, exclusion, deduction, credit (other than a credit for tax payable under Part XIII) or other form of relief that (a) applies specifically in respect of all or a portion of the relevant amount and not in computing the entity’s relevant foreign income or profits in general, or (b) arises in respect of the payment; E is the amount determined by the formula (A − C − D) × G ÷ H where G is the total of all amounts, each of which is an amount that (i) meets the following conditions: (A) is repaid or repayable in respect of income or profits tax paid or payable by the entity to the government of a country other than Canada in respect of the relevant foreign income or profits for the year, and (B) is not repaid or repayable because a loss is used to reduce or offset the relevant foreign income or profits for the year, or (ii) is paid or payable in respect of a credit that can reasonably be considered to reduce or offset, directly or indirectly, the income or profits tax referred to in clause (i)(A), and H is the total amount of the income or profits tax referred to in clause (i)(A) of the description of G; and F is the amount determined by the formula (A − C − D − E) × (1 − I ÷ J) where I is the rate at which the income or profits tax referred to in clause (i)(A) in the description of G is charged in respect of the relevant amount, and J is the highest rate at which an income or profits tax imposed by the government of the country is charged in respect of an amount of income in respect of a financial instrument. ( revenu ordinaire étranger )
Income Tax Act — I-3.3
foreign taxation year of an entity means the period for which the accounts of the entity have been ordinarily made up for the purpose of computing relevant foreign income or profits of the entity, but no such period may exceed 53 weeks. ( année d’imposition étrangère )
Income Tax Act — I-3.3 (a)
hybrid mismatch amount , in respect of a payment, means (a) if the payment arises under a hybrid financial instrument arrangement, the amount of the hybrid financial instrument mismatch in respect of the payment; (b) if the payment arises under a hybrid transfer arrangement, the amount of the hybrid transfer mismatch in respect of the payment; or (c) if the payment arises under a substitute payment arrangement, the amount of the substitute payment mismatch in respect of the payment. ( montant de l’asymétrie hybride )
Income Tax Act — I-3.3 (a)
hybrid mismatch arrangement under which a payment arises means (a) a hybrid financial instrument arrangement under which the payment arises; (b) a hybrid transfer arrangement under which the payment arises; or (c) a substitute payment arrangement under which the payment arises. ( dispositif hybride )
Income Tax Act — I-3.3
payer of a payment includes any entity that has an obligation to pay, credit or confer, either immediately or in the future and either absolutely or contingently, the payment to an entity. ( payeur )
Income Tax Act — I-3.3
payment includes any amount or benefit that any entity has an obligation to pay, credit or confer, either immediately or in the future and either absolutely or contingently, to an entity. ( paiement )
Income Tax Act — I-3.3
recipient of a payment includes any entity that has an entitlement to be paid, credited or conferred, either immediately or in the future and either absolutely or contingently, the payment by an entity. ( bénéficiaire )
Income Tax Act — I-3.3
relevant foreign income or profits of an entity means income or profits in respect of which the entity is subject to an income or profits tax that is imposed by the government of a country other than Canada. ( revenus ou bénéfices étrangers pertinents )
Income Tax Act — I-3.3 (a)
specified entity , in respect of another entity at any time, means a particular entity if, taking into consideration the rules in subsection (17), (a) the particular entity at that time, either alone or together with entities with whom the particular entity does not deal at arm’s length, owns directly or indirectly equity interests in the other entity that (i) provide 25% or more of the votes that could be cast at an annual meeting of the shareholders, if the other entity is a corporation, or (ii) have 25% or more of the fair market value of all equity interests in the other entity; (b) the condition in paragraph (a) would be satisfied if the references in that paragraph to “particular entity” were read as references to “other entity” and the references to “other entity” were read as references to “particular entity”; or (c) a third entity at that time, either alone or together with entities with which the third entity does not deal at arm’s length, owns directly or indirectly equity interests in the particular entity and the other entity that, in respect of each of the particular entity and the other entity, (i) provide 25% or more of the votes that could be cast at an annual meeting of the shareholders, if the particular entity or the other entity, as the case may be, is a corporation, or (ii) have 25% or more of the fair market value of all equity interests in the particular entity or the other entity, as the case may be. ( entité déterminée )
Income Tax Act — I-3.3 (a)
specified minimum tax regime means (a) any provisions in respect of global intangible low-taxed income (as defined in section 951A of the Internal Revenue Code of 1986 of the United States, as amended from time to time); (b) any provisions under the tax laws of a country that can reasonably be considered to have been enacted or otherwise brought into effect by the country with the intention of implementing, in whole or in part, the Global Anti-Base Erosion Model Rules set out in Tax Challenges Arising from the Digitalisation of the Economy – Global Anti-Base Erosion Model Rules (Pillar Two) , published by the Organisation for Economic Co-operation and Development; or (c) any provisions under the tax laws of a country that can reasonably be considered to have been enacted or otherwise brought into effect by the country with the intention of implementing, in whole or in part, a Qualified Domestic Minimum Top-up Tax (as defined in the model rules referred to in paragraph (b)). ( régime fiscal minimum déterminé )
Income Tax Act — I-3.3 (a)
structured arrangement means any transaction, or series of transactions, if (a) the transaction or series includes a payment that gives rise to a deduction/non-inclusion mismatch; and (b) it can reasonably be considered, having regard to all the facts and circumstances, including the terms or conditions of the transaction or series, that (i) portion of any economic benefit arising from the deduction/non-inclusion mismatch is reflected in the pricing of the transaction or series, or (ii) the transaction or series was otherwise designed to, directly or indirectly, give rise to the deduction/non-inclusion mismatch. ( dispositif structuré )
Income Tax Act — I-3.3 (a)
Canadian issue of a newspaper means an issue, including a special issue, (a) the type of which, other than the type for advertisements or features, is set in Canada, (b) all of which, exclusive of any comics supplement, is printed in Canada, (c) that is edited in Canada by individuals resident in Canada, and (d) that is published in Canada; ( édition canadienne )
Income Tax Act — I-3.3
substantially the same [Repealed, 2001, c. 17, s. 11(2)]
Income Tax Act — I-3.3 (a)
United States means (a) the United States of America, but does not include Puerto Rico, the Virgin Islands, Guam or any other United States possession or territory, and (b) any areas beyond the territorial sea of the United States within which, in accordance with international law and its domestic laws, the United States may exercise rights with respect to the seabed and subsoil and the natural resources of those areas. ( États-Unis )
Income Tax Act — I-3.3
advertisement directed at the Canadian market has the same meaning as the expression directed at the Canadian market in section 2 of the Foreign Publishers Advertising Services Act and includes a reference to that expression made by or under that Act. ( annonce destinée au marché canadien )
Income Tax Act — I-3.3 (a)
original editorial content in respect of an issue of a periodical means non-advertising content (a) the author of which is a Canadian citizen or a permanent resident of Canada within the meaning assigned by the Immigration Act and, for this purpose, “author” includes a writer, a journalist, an illustrator and a photographer; or (b) that is created for the Canadian market and has not been published in any other edition of that issue of the periodical published outside Canada. ( contenu rédactionnel original )
Income Tax Act — I-3.3
periodical has the meaning assigned by section 2 of the Foreign Publishers Advertising Services Act . ( périodique )
Income Tax Act — I-3.3 19.1
Limitation re advertising expense on broadcasting undertaking 19.1 (1) Subject to subsection 19.1(2), in computing income, no deduction shall be made in respect of an otherwise deductible outlay or expense of a taxpayer made or incurred after September 21, 1976 for an advertisement directed primarily to a market in Canada and broadcast by a foreign broadcasting undertaking. Exception (2) In computing income, a deduction may be made in respect of an outlay or expense made or incurred before September 22, 1977 for an advertisement directed primarily to a market in Canada and broadcast by a foreign broadcasting undertaking pursuant to (a) a written agreement entered into on or before January 23, 1975; or (b) a written agreement entered into after January 23, 1975 and before September 22, 1976 if the agreement is for a term of one year or less and by its express terms is not capable of being extended or renewed. Definitions (4) In this section, foreign broadcasting undertaking means a network operation or a broadcasting transmitting undertaking located outside Canada or on a ship or aircraft not registered in Canada; ( entreprise étrangère de radiodiffusion ) network includes any operation involving two or more broadcasting undertakings whereby control over all or any part of the programs or program schedules of any of the broadcasting undertakings involved in the operation is delegated to a network operator. ( réseau ) [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1974-75-76, c. 106, s. 3; 1977-78, c. 1, s. 13; 1985, c. 45, s. 126(F)
Income Tax Act — I-3.3
foreign broadcasting undertaking means a network operation or a broadcasting transmitting undertaking located outside Canada or on a ship or aircraft not registered in Canada; ( entreprise étrangère de radiodiffusion )
Income Tax Act — I-3.3
network includes any operation involving two or more broadcasting undertakings whereby control over all or any part of the programs or program schedules of any of the broadcasting undertakings involved in the operation is delegated to a network operator. ( réseau )
Income Tax Act — I-3.3 20.01
alth services plan relates to a particular period in the year, other than a period described in paragraph (b), the amount so deductible in relation to the particular period shall not exceed the amount determined by the formula (A/365) × (B + C) where A is the number of days in the year that are included in the particular period, B is the product obtained when $1,500 is multiplied by the number of persons each of whom is covered under the plan, and (i) is the individual or the individual’s spouse or common-law partner, or (ii) is a member of the individual’s household and has attained the age of 18 years before the beginning of the particular period, and C is the product obtained when $750 is multiplied by the number of members of the individual’s household who, but for the fact that they have not attained the age of 18 years before the particular period began, would be included in computing the product under the description of B; and (d) where an amount payable under a private health services plan relates to a particular period in the year (other than a period described in paragraph (b)) and one or more persons with whom the individual deals at arm’s length are described in subparagraph (b)(i) in relation to the particular period, the amount so deductible in relation to the particular period shall not exceed the lesser of the amount determined under the formula set out in paragraph (c) and the individual’s cost of equivalent coverage in respect of any such person in relation to the particular period. Equivalent coverage (3) For the purpose of subsection (2), an amount payable in respect of an individual under a private health services plan in relation to a period does not exceed the individual’s cost of equivalent coverage under the plan in respect of another person in relation to the period to the extent that, in relation to the period, the amount does not exceed the product obtained when (a) the amount that would be the individual’s cost of coverage under the plan if the benefits and coverage in respect of the individual, the individual’s spouse or common-law partner and the members of the individual’s household were identical to the benefits and coverage made available in respect of the other person, the other person’s spouse or common-law partner and the members of the other person’s household is multiplied by (b) the percentage of the cost of coverage under the plan in respect of the other person that is payable by the individual or a partnership of which the individual is a member. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1999, c. 22, s. 10; 2000, c. 12, s. 142; 2013, c. 40, s. 12(E)
Income Tax Act — I-3.3 20.1
ther business or for any other purpose; (b) where a taxpayer, who has at any time ceased to carry on a business, regularly used a property in part in the business and in part for some other purpose, (i) the taxpayer shall be deemed to have disposed of the property at that time, and (ii) the fair market value of the property at that time shall be deemed to equal the proportion of the fair market value of the property at that time that the use regularly made of the property in the business was of the whole use regularly made of the property; and (c) where the taxpayer is a trust, subsections 104(4) to 104(5.2) do not apply. Amount payable for property (4) Where an amount is payable by a taxpayer for property, the amount shall be deemed, for the purposes of this section and, where subsection 20.1(2) applies with respect to the amount, for the purposes of this Act, to be payable in respect of borrowed money used by the taxpayer to acquire the property. Interest in partnership (5) For the purposes of this section, where borrowed money that has been used to acquire an interest in a partnership is, as a consequence, considered to be used at any time for the purpose of earning income from a business or property of the partnership, the borrowed money shall be deemed to be used at that time for the purpose of earning income from property that is the interest in the partnership and not to be used for the purpose of earning income from the business or property of the partnership. Refinancings (6) Where at any time a taxpayer uses borrowed money to repay money previously borrowed that was deemed by paragraph 20.1(2)(c) immediately before that time to be used for the purpose of earning income from a business, (a) paragraphs 20.1(2)(a) to 20.1(2)(c) apply with respect to the borrowed money; and (b) subsection 20(3) does not apply with respect to the borrowed money. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 21, s. 13; 2013, c. 34, s. 98
Income Tax Act — I-3.3 20.2
branch advances is 95% or more of the amount of its assets at that time, an amount not exceeding (i) if the amount of liabilities to other persons and partnerships at that time is less than 95% of the amount of its assets at that time, the amount determined by the formula IL + IBA × (0.95 × A - L)/BA and (ii) if the amount of those liabilities at that time is greater than or equal to 95% of the amount of its assets at that time, the amount determined by the formula IL × (0.95 × A)/L and (b) in any other case, the total of (i) the amount determined by the formula IL + IBA and (ii) the product of (A) the amount claimed by the bank, in its return of income for the year, not exceeding the amount determined by the formula (0.95 × A) - (L + BA) and (B) the average, based on daily observations, of the Bank of Canada bank rate for the period. Branch amounts (4) Only amounts that are in respect of an authorized foreign bank’s Canadian banking business, and that are recorded in the books of account of the business in a manner consistent with the manner in which they are required to be treated for the purposes of the branch financial statements, shall be used to determine (a) the amounts in subsection (2); and (b) the amounts in subsection (3) of an authorized foreign bank’s assets, liabilities to other persons and partnerships, and branch advances. Notional interest (5) For the purposes of the description of IBA in subsection (2), a reasonable amount on account of notional interest for a calculation period in respect of a branch advance is the amount that would be payable on account of interest for the period by a notional borrower, having regard to the duration of the advance, the currency in which repayment is required and all other terms, as adjusted by paragraph (c), of the advance, if (a) the borrower were a person that dealt at arm’s length with the bank, that carried on the bank’s Canadian banking business and that had the same credit-worthiness and borrowing capacity as the bank; (b) the advance were a loan by the bank to the borrower; and (c) any of the terms of the advance (excluding the rate of interest, but including the structure of the interest calculation, such as whether the rate is fixed or floating and the choice of any reference rate referred to) that are not terms that would be made between the bank as lender and the borrower, having regard to all the circumstances, including the nature of the Canadian banking business, the use of the advanced funds in the business and normal risk management practices for banks, were instead terms that would be agreed to by the bank and the borrower. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2001, c. 17, s. 14
Income Tax Act — I-3.3
branch advance of an authorized foreign bank means an amount allocated or provided by, or on behalf of, the bank to, or for the benefit of, its Canadian banking business under terms that were documented, before the amount was so allocated or provided, to the same extent as, and in a form similar to the form in which, the bank would ordinarily document a loan by it to a person with whom it deals at arm’s length. ( avance de succursale )
Income Tax Act — I-3.3 (a)
branch financial statements of an authorized foreign bank for a taxation year means the unconsolidated statements of assets and liabilities and of income and expenses for the year, in respect of its Canadian banking business, (a) that form part of the bank’s annual report for the year filed with the Superintendent of Financial Institutions as required under section 601 of the Bank Act , and accepted by the Superintendent, and (b) if no filing is so required for the taxation year, that are prepared in a manner consistent with the statements in the annual report or reports so filed and accepted for the period or periods in which the taxation year falls, except if the Minister demonstrates that the statements are not prepared in accordance with generally-accepted accounting principles in Canada as modified by any specifications applicable to the bank made by the Superintendent of Financial Institutions under subsection 308(4) of the Bank Act (in this definition referred to as “modified GAAP”), in which case it means the statements subject to such modifications as are required to make them comply with modified GAAP. ( états financiers de succursale )
Income Tax Act — I-3.3 (a)
calculation period of an authorized foreign bank for a taxation year means any one of a series of regular periods into which the year is divided in a designation by the bank in its return of income for the year or, in the absence of such a designation, by the Minister, (a) none of which is longer than 31 days; (b) the first of which commences at the beginning of the year and the last of which ends at the end of the year; and (c) that are, unless the Minister otherwise agrees in writing, consistent with the calculation periods designated for the bank’s preceding taxation year. ( période de calcul )
Income Tax Act — I-3.3 20.3
mount so paid or payable. Repayment of principal (4) If the amount (expressed in the weak currency) outstanding on account of principal in respect of a debt of the taxpayer that is at any time a weak currency debt is reduced before maturity (whether by repayment or otherwise), the amount (expressed in the weak currency) of the reduction is deemed, except for the purposes of determining the rate of interest that would have been charged on an equivalent loan in the final currency and applying paragraph (b) of the definition weak currency debt in subsection (1), to have been a separate debt from the commitment time. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2001, c. 17, s. 14