GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
net RRSP-to-FHSA transfer amount of a holder at a particular time means the amount by which‍ (a) the total of all amounts transferred under paragraph 146(16)(a.2), at or before that time, to a FHSA of the holder exceeds (b) the total of all amounts designated by the holder under paragraph (a) of the definition designated amount in subsection 207.01(1) at or before that time. ( montant net de transfert de REER à CELIAPP )
Income Tax Act — I-3.3
non-qualified investment has the same meaning as in subsection 207.01(1). ( placement non admissible )
Income Tax Act — I-3.3
qualified investment has the same meaning as in subsection 207.01(1). ( placement admissible )
Income Tax Act — I-3.3 (a)
qualifying arrangement , at a particular time, means an arrangement (a) that is entered into after March 2023 between a person (in this definition referred to as the “issuer”) and a qualifying individual; (b) that is (i) an arrangement in trust with an issuer that is a corporation licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee, (ii) an annuity contract with an issuer that is a licensed annuities provider, or (iii) a deposit with an issuer that is (A) a person that is, or is eligible to become, a member of the Canadian Payments Association, or (B) a credit union that is a shareholder or member of a body corporate referred to as a “central” for the purposes of the Canadian Payments Act ; (c) that provides for contributions to be made under the arrangement to the issuer in consideration of, or to be used, invested or otherwise applied for the purpose of, the issuer making distributions under the arrangement to the holder; (d) under which the issuer and the qualifying individual agree, at the time the arrangement is entered into, that the issuer will file with the Minister an election to register the arrangement as a FHSA, in the prescribed form and manner under the Social Insurance Number of the qualifying individual with whom the arrangement was entered into; and (e) that, at all times throughout the period that begins at the time the arrangement is entered into and that ends at the particular time, complies with the conditions in subsection (2). ( arrangement admissible )
Income Tax Act — I-3.3 (a)
qualifying home means (a) a housing unit located in Canada; or (b) a share of the capital stock of a cooperative housing corporation, the holder of which is entitled to possession of a housing unit located in Canada, except that, where the context so requires, a reference to a share with a right to possession of a housing unit described means the housing unit to which the share relates. ( habitation admissible )
Income Tax Act — I-3.3 (a)
qualifying individual , at a particular time, means an individual who (a) is a resident of Canada; (b) is at least 18 years of age; and (c) did not, at any prior time in the calendar year or in the preceding four calendar years, inhabit as a principal place of residence a qualifying home (or what would be a qualifying home if it were located in Canada) that was owned, whether jointly with another person or otherwise, by (i) the individual, or (ii) a person who is the spouse or common-law partner of the individual at the particular time. ( particulier déterminé )
Income Tax Act — I-3.3 (a)
qualifying withdrawal of an individual means an amount received at a particular time by the individual as a benefit out of or under a FHSA if (a) the amount is received as a result of the individual’s written request in prescribed form in which the individual sets out the location of a qualifying home that the individual has begun, or intends not later than one year after its acquisition by the individual to begin, using as a principal place of residence; (b) the individual (i) is a resident of Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the time at which the individual acquires the qualifying home, and (ii) does not have an owner-occupied home within the meaning of paragraph 146.01(2)(a.1) in the period (A) that begins at the beginning of the fourth preceding calendar year that ended before the particular time, and (B) that ends on the 31st day before the particular time; (c) the individual entered into an agreement in writing before the particular time for the acquisition or construction of the qualifying home before October 1 of the calendar year following the year in which the amount was received; and (d) the individual did not acquire the qualifying home more than 30 days before the particular time. ( retrait admissible )
Income Tax Act — I-3.3
survivor of a holder means another individual who is, immediately before the holder’s death, a spouse or common-law partner of the holder.‍ ( survivant )
Income Tax Act — I-3.3 147
aring plan in a calendar year on behalf of a beneficiary under the plan would, but for this subsection, be in accordance with subsection 147(19), and (b) the requirements of subsection 147(5.1) in respect of the plan are not satisfied for the year by reason that the beneficiary’s pension credits or pension adjustments do not comply with any of paragraphs 147(5.1)(a) to 147(5.1)(c), such portion of the amount transferred as may reasonably be considered to derive from amounts allocated or reallocated to the beneficiary in the year or from earnings reasonably attributable to those amounts shall, except to the extent otherwise expressly provided in writing by the Minister, be deemed to be an amount that was not transferred in accordance with subsection 147(19). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 147; 1994, c. 21, s. 72; 1997, c. 25, s. 43; 1998, c. 19, s. 172; 2000, c. 12, s. 142; 2001, c. 17, s. 142; 2007, c. 29, s. 20; 2013, c. 34, s. 301 2021, c. 23, s. 35
Income Tax Act — I-3.3
deferred profit sharing plan means a profit sharing plan accepted by the Minister for registration for the purposes of this Act, on application therefor in prescribed manner by a trustee under the plan and an employer of employees who are beneficiaries under the plan, as complying with the requirements of this section; ( régime de participation différée aux bénéfices )
Income Tax Act — I-3.3
forfeited amount , under a deferred profit sharing plan or a plan the registration of which has been revoked pursuant to subsection 147(14) or 147(14.1), means an amount to which a beneficiary under the plan has ceased to have any rights, other than the portion thereof, if any, that is payable as a consequence of the death of the beneficiary to a person who is entitled thereto by virtue of the participation of the beneficiary in the plan; ( montant perdu )
Income Tax Act — I-3.3
licensed annuities provider means a person licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada an annuities business; ( fournisseur de rentes autorisé )
Income Tax Act — I-3.3
profit sharing plan means an arrangement under which payments computed by reference to an employer’s profits from the employer’s business, or by reference to those profits and the profits, if any, from the business of a corporation with which the employer does not deal at arm’s length, are or have been made by the employer to a trustee in trust for the benefit of employees or former employees of that employer. ( régime de participation aux bénéfices )
Income Tax Act — I-3.3 147.1
ndar year under a money purchase provision of a registered pension plan in respect of the individual if it is a permitted corrective contribution and the provision was a designated money purchase provision in each of the prior years in respect of which the contribution is made. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 147.1; 1994, c. 7, Sch. II, s. 120(F), Sch. VIII, s. 85; 1996, c. 21, s. 36; 1997, c. 25, s. 44; 1998, c. 19, ss. 39, 173; 2003, c. 15, s. 84; 2005, c. 30, s. 11; 2013, c. 34, s. 302, c. 40, s. 64 2023, c. 26, s. 43
Income Tax Act — I-3.3
actuary means a Fellow of the Canadian Institute of Actuaries; ( actuaire )
Income Tax Act — I-3.3
administrator of a pension plan means the person or body of persons that has ultimate responsibility for the administration of the plan; ( administrateur )
Income Tax Act — I-3.3
average wage for a calendar year means the amount that is obtained by dividing by 12 the total of all amounts each of which is the wage measure for a month in the 12 month period ending on June 30 of the immediately preceding calendar year; ( salaire moyen )
Income Tax Act — I-3.3 (a)
compensation of an individual from an employer for a calendar year means the total of all amounts each of which is (a) an amount in respect of the individual’s employment with the employer, or an office in respect of which the individual is remunerated by the employer, that is required (or that would be required but for paragraph 81(1)(a) as it applies with respect to the Indian Act or the Foreign Missions and International Organizations Act ) by section 5 or 6 to be included in computing the individual’s income for the year, except such portion of the amount that (i) meets the following conditions: (A) the portion may reasonably be considered to relate to a period throughout which the individual was not resident in Canada, and (B) the portion is (I) not attributable to the performance of the duties of the office or employment in Canada, or (II) exempt from income tax in Canada by reason of a tax treaty, or (ii) is deducted under paragraph 8(1)(o.2) in computing the taxpayer’s income for the year, (b) a prescribed amount, or (c) an amount acceptable to the Minister in respect of remuneration received by the individual from any employer for a period in the year throughout which the individual was not resident in Canada, to the extent that the amount is not otherwise included in the total; ( rétribution )
Income Tax Act — I-3.3
defined benefit provision of a pension plan means terms of the plan under which benefits in respect of each member are determined in any way other than that described in the definition money purchase provision in this subsection; ( disposition à prestations déterminées )
Income Tax Act — I-3.3
designated money purchase provision , in a calendar year, means a money purchase provision of a registered pension plan under which accounts are maintained in respect of at least 10 members throughout the year or under which the total contributions made for the year on behalf of an individual described in paragraph 8515(4)(a) or (b) of the Income Tax Regulations do not exceed 50% of the total contributions made for the year; ( disposition à cotisations déterminées désignée )
Income Tax Act — I-3.3 (a)
former limit for each calendar year after 2005 and before 2010 means the greater of (a) the product (rounded to the nearest multiple of $10, or, if that product is equidistant from two such consecutive multiples, to the higher multiple) of (i) $18,000, and (ii) the quotient obtained when the average wage for the year is divided by the average wage for 2005, and (b ) for 2006, $18,000, and for any other of those calendar years, the former limit for the preceding calendar year; ( ancien plafond )
Income Tax Act — I-3.3
member of a pension plan means an individual who has a right, either immediate or in the future and either absolute or contingent, to receive benefits under the plan, other than an individual who has such a right only by reason of the participation of another individual in the plan; ( participant )
Income Tax Act — I-3.3 (a)
money purchase limit for a calendar year means (a) for years before 1990, nil, (b) for 1990, $11,500, (c) for 1991 and 1992, $12,500, (d) for 1993, $13,500, (e) for 1994, $14,500, (f) for 1995, $15,500, (g) for years after 1995 and before 2003, $13,500, (h) for 2003, $15,500, (i) for 2004, $16,500, (j) for 2005, $18,000, (k) for 2006, the greater of $19,000 and the former limit for the year, (l) for 2007, the greater of $20,000 and the former limit for the year, (m) for 2008, the greater of $21,000 and the former limit for the year, (n) for 2009, the greater of $22,000 and the former limit for the year, and (o) for each year after 2009, the greater of (i) the product (rounded to the nearest multiple of $10, or, if that product is equidistant from two such consecutive multiples, to the higher multiple) of (A) the money purchase limit for 2009, and (B) the quotient obtained when the average wage for the year is divided by the average wage for 2009, and (ii) the money purchase limit for the preceding year; ( plafond des cotisations déterminées )
Income Tax Act — I-3.3 (a)
money purchase provision of a pension plan means terms of the plan (a) which provide for a separate account to be maintained in respect of each member, to which are credited contributions made to the plan by, or in respect of, the member and any other amounts allocated to the member, and to which are charged payments made in respect of the member, and (b) under which the only benefits in respect of a member are benefits (i) determined solely with reference to, and provided by, the amount in the member’s account, or (ii) provided under a VPLA fund described in subsection 8506(13) of the Income Tax Regulations ; ( disposition à cotisations déterminées )
Income Tax Act — I-3.3
multi-employer plan in a calendar year has the meaning assigned by regulation; ( régime interentreprises )
Income Tax Act — I-3.3
participating employer , in relation to a pension plan, means an employer who has made, or is required to make, contributions to the plan in respect of the employer’s employees or former employees, or payments under the plan to the employer’s employees or former employees, and includes a prescribed employer; ( employeur participant )
Income Tax Act — I-3.3
past service event has the meaning assigned by regulation; ( fait lié aux services passés )
Income Tax Act — I-3.3 (a)
permitted corrective contribution to a registered pension plan means a contribution in a calendar year in respect of an individual that would otherwise have been made in one or more of the 10 immediately preceding years (each such year referred to in this definition as a “retroactive year”) in accordance with the money purchase provision of the plan as registered or a money purchase provision of a registered pension plan of a predecessor employer (for the purposes of this definition, as defined in subsection 8500(1) of the Regulations), but for an error that caused a failure to enroll the individual as a member of the plan or a failure to make a required contribution, to the extent that the amount of the contribution does not exceed the lesser of (a) the total of all amounts each of which is an amount, for a retroactive year, determined by the formula A + B − C where A is the total of all amounts each of which is an amount by which a contribution required to be made at a particular time in the retroactive year under the provision in respect of the individual exceeds the amount contributed at the particular time in respect of the individual, B is the amount of interest, if any, calculated in respect of each amount determined for A at a rate that (i) is required by the Pension Benefits Standards Act, 1985 or a similar law of a province, or (ii) if subparagraph (i) does not apply, does not exceed a reasonable rate, and C is the total amount previously contributed to the provision in respect of the individual under subsection (20) for the retroactive year, and (b) the amount determined by the formula E − F where E is 150% of the money purchase limit for the calendar year, and F is the total amount previously contributed in respect of the individual under subsection (20) to the provision, or to any other money purchase provision, if a participating employer under the provision or a predecessor employer has been a participating employer in respect of the individual under that other provision; ( cotisation corrective permise )
Income Tax Act — I-3.3
single amount means an amount that is not part of a series of periodic payments; ( montant unique )
Income Tax Act — I-3.3
specified multi-employer plan in a calendar year has the meaning assigned by regulation; ( régime interentreprises déterminé )
Income Tax Act — I-3.3
spouse [Repealed, 1994, c. 7, Sch. VIII, s. 85(2)]
Income Tax Act — I-3.3 (a)
wage measure for a month means the average weekly wages and salaries of (a) the Industrial Aggregate in Canada for the month as published by Statistics Canada under the Statistics Act , or (b) in the event that the Industrial Aggregate ceases to be published, such other measure for the month as is prescribed by regulation under the Canada Pension Plan for the purposes of paragraph 18(5)(b) of that Act. ( mesure des gains )
Income Tax Act — I-3.3 147.2
tions made under subsection 147.1(18) in respect of eligible contributions, a former employee of a predecessor employer (as defined by regulation) of a participating employer in relation to a pension plan is deemed to be a former employee of the participating employer in relation to the plan if (a) the former employee would not otherwise be an employee or former employee of the participating employer; and (b) benefits are provided to the former employee under a defined benefit provision of the plan in respect of periods of employment with the predecessor employer. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 147.2; 1998, c. 19, s. 174; 2001, c. 17, s. 143; 2007, c. 2, s. 39; 2010, c. 12, s. 18; 2013, c. 34, s. 303 2023, c. 26, s. 44
Income Tax Act — I-3.3 147.4
ction 139.1(1)) of an insurance corporation that is considered for the purposes of section 139.1 to have been a party to the original contract, the other contract is deemed to be the same contract as, and a continuation of, the original contract; and (b) in any other case, each individual who has an interest in the original contract immediately before that time is deemed to have received at that time the payment of an amount under a pension plan equal to the fair market value of the interest immediately before that time. Application of subsection (5) (4) Subsection (5) applies to an amount transferred from an annuity contract described in subsection (1) if (a) the conditions set out in paragraphs (1)(a) to (e) were satisfied when the annuitant acquired an interest in the annuity contract; and (b) the transfer is made as a consequence of (i) an individual who is a spouse or common-law partner or former spouse or common-law partner of the annuitant becoming entitled to an interest in the annuity contract under a decree, order or judgment of a competent tribunal, or under a written agreement, relating to a division of property between the annuitant and the individual, in settlement of rights arising out of, or on a breakdown of, their marriage or common-law partnership, or (ii) a provision of the Pension Benefits Standards Act, 1985 or a similar law of a province that permits the annuitant to commute all or part of their interest in the annuity contract. Treatment of amount transferred (5) Despite paragraph (1)(g), if this subsection applies to an amount transferred from an annuity contract described in subsection (1), the amount transferred is deemed for the purposes of section 147.3 (a) not to be transferred from the annuity contract; and (b) to be transferred from the registered pension plan described in subsection (1) to fully or partially satisfy the individual’s entitlement to benefits under the benefit provision (as defined in subsection 8500(1) of the Income Tax Regulations ) under which the individual’s entitlement to benefits was satisfied by the acquisition of the interest in the annuity contract. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1998, c. 19, s. 176; 2000, c. 19, s. 43; 2007, c. 29, s. 21 2021, c. 23, s. 37 2024, c. 17, s. 52 2026, c. 3, s. 70
Income Tax Act — I-3.3 147.5
f a PRPP or a participating employer in relation to the PRPP has, at any time in a taxation year, received a distribution from the member’s account under the PRPP that is a return of a contribution described in clause 147.5(3)(d)(ii)(A) or (B), the contribution is deemed not to have been a contribution made by the member or the participating employer, as the case may be, to the PRPP to the extent that the contribution is not deducted in computing the taxpayer’s income for the year or a preceding taxation year. Exempt contributions not over-contributions (33) For the purposes of Part X.1 as it applies because of subsection (11) in respect of contributions made to a PRPP, (a) an individual’s earned income (as defined in subsection 146(1)) for any taxation year after 2012 includes the individual’s exempt earned income for that year; (b) an individual’s exempt-income contribution amount for any taxation year is deemed to have been deducted by the individual under subsection 146(5) in computing the individual’s income for that year; and (c) the description of D in paragraph (b) of the definition unused RRSP deduction room in subsection 146(1) is to be read without reference to subparagraph (iv). Designation of exempt-income contribution amount (34) A taxpayer may designate an amount as the taxpayer’s exempt-income contribution amount for a taxation year if the amount designated does not exceed the lesser of (a) the taxpayer’s unused non-deductible PRPP room at the end of the preceding taxation year, and (b) the total of the taxpayer’s contributions as a member to a PRPP for the year (other than contributions to which subsection (32) applies). Regulations — other (35) The Governor in Council may make regulations (a) prescribing conditions applicable to administrators; (b) requiring administrators to file information returns respecting pooled pension plans; (c) enabling the Minister to require any person to provide the Minister with information for the purposes and provisions of this Act relating to PRPPs; and (d) generally to carry out the purposes and provisions of this Act relating to PRPPs. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2012, c. 31, s. 36; 2015, c. 36, s. 17; 2017, c. 33, s. 60 2021, c. 23, s. 38 2023, c. 26, s. 45 2024, c. 17, s. 53
Income Tax Act — I-3.3 (a)
administrator , of a pooled pension plan, means (a) a corporation resident in Canada that is responsible for the administration of the plan and that is authorized under the Pooled Registered Pension Plans Act or a similar law of a province to act as an administrator for one or more pooled pension plans; or (b) an entity designated in respect of the plan under section 21 of the Pooled Registered Pension Plans Act or any provision of a law of a province that is similar to that section. ( administrateur )
Income Tax Act — I-3.3 (a)
designated pooled pension plan , for a calendar year, means a pooled pension plan that, at any time in the year (other than the year in which the plan became registered as a PRPP), meets any of the following conditions: (a) the plan has fewer than 10 participating employers; (b) the fair market value of the property held in connection with the accounts of all members of the plan employed by a particular participating employer exceeds 50% of the fair market value of the property held in connection with the plan; (c) more than 50% of the members of the plan are employed by a particular participating employer; or (d) it is reasonable to conclude that the participation in the plan of one or more participating employers occurs primarily to avoid the application of any of paragraphs (a) to (c). ( régime de pension collectif désigné )