GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — (a)
net surplus of a foreign affiliate of a corporation resident in Canada in respect of the corporation is, at any particular time, (a) if the affiliate has no exempt deficit, no hybrid deficit and no taxable deficit, the amount that is the total of its exempt surplus, hybrid surplus and taxable surplus in respect of the corporation, (b) if the affiliate has no exempt deficit but has a hybrid deficit and a taxable deficit, the amount, if any, by which its exempt surplus exceeds the total of its hybrid deficit and taxable deficit in respect of the corporation, (c) if the affiliate has no exempt deficit and no hybrid deficit but has a taxable deficit, the amount, if any, by which the total of its exempt surplus and hybrid surplus exceeds its taxable deficit in respect of the corporation, (d) if the affiliate has no exempt deficit and no taxable deficit but has a hybrid deficit, the amount, if any, by which the total of its exempt surplus and taxable surplus exceeds its hybrid deficit in respect of the corporation, (e) if the affiliate has an exempt deficit but no hybrid deficit or taxable deficit, the amount, if any, by which the total of its hybrid surplus and taxable surplus exceeds its exempt deficit in respect of the corporation, (f) if the affiliate has an exempt deficit and a hybrid deficit but no taxable deficit, the amount, if any, by which its taxable surplus exceeds the total of its exempt deficit and hybrid deficit in respect of the corporation, or (g) if the affiliate has an exempt deficit and a taxable deficit but no hybrid deficit, the amount, if any, by which its hybrid surplus exceeds the total of its exempt deficit and taxable deficit in respect of the corporation, as the case may be, at that time; ( surplus net )
Income Tax Regulations — (a)
taxable deficit of a foreign affiliate of a corporation in respect of the corporation at any time is the amount, if any, by which (a) the total of all amounts each of which is an amount determined at that time under any of subparagraphs (i) to (vi) of the description of B in the definition taxable surplus in this subsection exceeds (b) the total of all amounts each of which is an amount determined at that time under any of subparagraphs (i) to (v) of the description of A in that definition; ( déficit imposable )
Income Tax Regulations — (a)
taxable earnings of a foreign affiliate of a corporation for a taxation year of the affiliate is (a) where the year is the 1975 or any preceding taxation year of the affiliate, nil, and (b) in any other case, the total of all amounts each of which is (i) the affiliate’s net earnings for the year from an active business carried on by it in a country, (ii) the affiliate’s net earnings for the year in respect of its foreign accrual property income, (iii) the affiliate’s earnings for the year as determined under paragraph (b) of the definition earnings minus the portion of any income or profits tax paid to the government of a country for a year by the affiliate that can reasonably be regarded as tax in respect of those earnings, (iv) to the extent not included under subparagraph (ii), the affiliate’s net earnings for the year determined under paragraphs (c) to (f) of the definition net earnings , or (iv.1) the amount, if any, by which (A) the total of all amounts each of which is an amount required by paragraph (2.02)(a) to be included under this definition for the year exceeds (B) the total of all amounts each of which is an amount required by paragraph (2.02)(b) to be deducted under this definition for the year, (v) [Repealed, 2013, c. 34, s. 46] but does not include any amount included in the affiliate’s exempt earnings for the year; ( gains imposables )
Income Tax Regulations — (a)
taxable loss of a foreign affiliate of a corporation for a taxation year of the affiliate is (a) where the year is the 1975 or any preceding taxation year of the affiliate, nil, and (b) in any other case, the total of all amounts each of which is (i) the affiliate’s net loss for the year from an active business carried on by it in a country, (ii) the affiliate’s net loss for the year in respect of foreign accrual property income, (iii) the affiliate’s loss for the year as determined under paragraph (b) of the definition loss minus the portion of any income or profits tax refunded by the government of a country for a year to the affiliate that can reasonably be regarded as tax refunded in respect of that loss, or (iv) to the extent not included under subparagraph (ii), the affiliate’s net loss for the year determined under paragraphs (c) to (f) of the definition net loss , but does not include any amount included in the affiliate’s exempt loss for the year; ( perte imposable )
Income Tax Regulations — (a)
underlying foreign tax applicable in respect of a corporation to a whole dividend paid at any time on the shares of any class of the capital stock of a foreign affiliate of the corporation by the affiliate is the total of (a) the proportion of the underlying foreign tax of the affiliate at that time in respect of the corporation that (i) the portion of the whole dividend deemed to have been paid out of the affiliate’s taxable surplus in respect of the corporation is of (ii) the affiliate’s taxable surplus at that time in respect of the corporation, and (b) any additional amount in respect of the whole dividend that the corporation claims in its return of income under Part I of the Act in respect of the whole dividend, not exceeding the amount that is the lesser of (i) the amount by which the portion of the whole dividend deemed to have been paid out of the affiliate’s taxable surplus in respect of the corporation exceeds the amount determined under paragraph (a), and (ii) the amount by which the affiliate’s underlying foreign tax in respect of the corporation immediately before the whole dividend was paid exceeds the amount determined under paragraph (a); ( montant intrinsèque d’impôt étranger applicable )
Income Tax Regulations — (a)
whole dividend paid at any time on the shares of a class of the capital stock of a foreign affiliate of a taxpayer resident in Canada is the total of all amounts each of which is the dividend paid at that time on a share of that class except that (a) where a dividend is paid at the same time on shares of more than one class of the capital stock of an affiliate, for the purpose only of section 5900, the whole dividend referred to in section 5901 paid at that time on the shares of a class of the capital stock of the affiliate is deemed to be the total of all amounts each of which is the dividend paid at that time on a share of the capital stock of the affiliate, (b) where a whole dividend is deemed by subparagraph 5902(1)(a)(ii) to have been paid at the same time on shares of more than one class of an affiliate’s capital stock, for the purpose only of that subparagraph, the whole dividend deemed to have been paid at that time on the shares of a class of the affiliate’s capital stock is deemed to be the total of all amounts each of which is a whole dividend deemed to have been paid at that time on the shares of a class of the affiliate’s capital stock, and (c) where more than one whole dividend is deemed by paragraph 5900(2)(b) to have been paid at the same time on shares of a class of the capital stock of an affiliate, for the purposes only of paragraph 5900(1)(d) and the definitions underlying foreign tax and underlying foreign tax applicable in this subsection, the whole dividend deemed to have been paid at that time on the shares of a class of the capital stock of the affiliate is deemed to be the total of all amounts each of which is a whole dividend deemed to have been paid at that time on the shares of a class of the capital stock of the affiliate and all of that whole dividend shall be deemed to have been paid out of the affiliate’s taxable surplus in respect of the corporation. ( dividende global )
Income Tax Regulations — (a)
attributed amounts , for a stub period, in respect of a particular time referred to in paragraph (8)(b), of a foreign affiliate of a corporation, means (a) the amounts of any income, gain or loss of the affiliate for the stub period that are relevant in determining amounts that are to be included or may be deducted under section 91 of the Act in respect of the affiliate for the particular stub period, in computing the income of the corporation; (b) any portion of the affiliate’s capital gain or capital loss – from a disposition, in the stub period or at the particular time referred to in paragraph (8)(b), of a property that is not an excluded property – that is not described in paragraph (a); and (c) any income or profits tax paid to the government of a country, in respect of amounts described in paragraph (a) or (b). ( sommes attribuées )
Income Tax Regulations — (a)
stub period , in respect of a particular time at which subsection 91(1.2) of the Act applies in respect of a foreign affiliate of a corporation, means a period that ends at the stub-period end time in respect of the particular time and begins immediately after the later of (a) the last time, if any, before the particular time that subsection 91(1.2) applied in respect of the affiliate, and (b) the end of the affiliate’s last taxation year before the particular time. ( période tampon )
Income Tax Regulations — Income Tax Regulations
stub-period end time , in respect of a particular time at which subsection 91(1.2) of the Act applies in respect of a foreign affiliate of a corporation, means the time that is immediately before the particular time. ( fin de la période tampon )
Income Tax Regulations — 5908
 total of all amounts each of which is the amount, if any, determined under paragraph (a) in respect of a share of the capital stock of the particular affiliate, B is the fair market value, at the adjustment time, of the interest in the partnership of the direct holder or the subordinate affiliate, as the case may be, and C is the fair market value, at the adjustment time, of all members’ interests in the partnership; and (c) no amount is to be added under subsection 5905(7.6) to the direct holder’s or the subordinate affiliate’s adjusted cost base of the share. (12) For the purposes of paragraph 5905(7.7)(b), the amount determined under this subsection is the amount determined by the formula A × B/C where A is the adjustment amount; B is the fair market value, at the adjustment time, of the interest in the partnership that is referred to in paragraph 92(1.1)(b) of the Act of the particular foreign affiliate that is referred to in paragraph 93(3)(c) of the Act; and C is the fair market value, at the adjustment time, of all members’ interests in the partnership. (13) For the purposes of clauses 5907(2.9)(a)(i)(B) and (ii)(B), the amount determined under this subsection is, subject to subsection (14), the amount determined by the formula A × B/C where A is (a) if clause 5907(2.9)(a)(i)(B) applies, the amount determined under clause 5907(2.9)(a)(i)(A), and (b) if clause 5907(2.9)(a)(ii)(B) applies, the amount determined under clause 5907(2.9)(a)(ii)(A), B is the affiliate’s direct or indirect share of the partnership’s income or loss for the preceding taxation year, and C is the partnership’s income or loss for the preceding taxation year. (14) For the purposes of subsection (13), if both the income and loss of the partnership for the preceding taxation year are nil, the descriptions of B and C in the formula in that subsection are to be applied as if the partnership had income for that year in the amount of $1,000,000. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/97-505, s. 9; 2013, c. 34, ss. 47, 86
Income Tax Regulations — 5909
5909 [Repealed, 2013, c. 34, s. 28] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/89-135, s. 4; 2013, c. 34, s. 28
Income Tax Regulations — 5910
5910 (1) If a foreign affiliate of a corporation resident in Canada carries on in a particular taxation year an active business that is a foreign oil and gas business in a taxing country, the affiliate is deemed for the purposes of this Part to have paid for the particular year, as an income or profits tax to the government of the taxing country in respect of its earnings from the business for the particular year, an amount equal to the lesser of (a) the amount, if any, determined by the formula (A × B) – C where A is the percentage determined under subsection (2) for the particular year, B is the affiliate’s earnings from the business for the particular year, and C is the total of all amounts each of which is an amount that would, but for this subsection, be an income or profits tax paid to the government of the taxing country by the affiliate for the particular year in respect of its earnings from the business for the particular year; and (b) the affiliate’s production tax amount for the business in the taxing country for the particular year. (2) The percentage determined under this subsection for the particular year is the percentage determined by the formula P – Q where P is the percentage set out in paragraph 123(1)(a) of the Act for the corporation’s taxation year that includes the last day of the particular year; and Q is the corporation’s general rate reduction percentage (within the meaning assigned by subsection 123.4(1) of the Act) for that taxation year of the corporation. (3) [Repealed, 2013, c. 34, s. 87] (4) In this section, foreign oil and gas business , production tax amount and taxing country have the meanings assigned by subsection 126(7) of the Act. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2013, c. 34, ss. 48, 87
Income Tax Regulations — 5911
e for its taxation year that includes the last day of the foreign affiliate’s taxation year in which the distribution was made; and (b) in the case of a joint election, the earliest of the filing-due dates that would be determined under paragraph (a) for each taxpayer that is required to make the joint election if there were no connected persons or partnerships in respect of the taxpayer. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2013, c. 34, s. 88
Income Tax Regulations — 6000
6000 For the purpose of clause 122.3(1)(b)(i)(C) of the Act, a prescribed activity is an activity performed under contract with the United Nations. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-325, s. 4; SOR/94-686, s. 81(F); SOR/95-498, s. 1
Income Tax Regulations — 6100
6100 An election under subsection 138.1(4) of the Act by the trustee of a related segregated fund trust shall be made by filing with the Minister the prescribed form within 90 days from the end of the taxation year of the trust in respect of any capital property deemed to have been disposed of in that taxation year by virtue of the election. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-680, s. 1; SOR/94-686, s. 69(F)
Income Tax Regulations — 6200
6200 For the purposes of subsection 39(6) of the Act, a prescribed security is, with respect to the taxpayer referred to in subsection 39(4) of the Act, (a) a share of the capital stock of a corporation, other than a public corporation, the value of which is, at the time it is disposed of by that taxpayer, a value that is or may reasonably be considered to be wholly or primarily attributable to (i) real property, an interest therein or an option in respect thereof, (ii) Canadian resource property or a property that would have been a Canadian resource property if it had been acquired after 1971, (iii) foreign resource property or a property that would have been a foreign resource property if it had been acquired after 1971, or (iv) any combination of properties described in subparagraphs (i) to (iii) owned by (v) the corporation, (vi) a person other than the corporation, or (vii) a partnership; (b) a bond, debenture, bill, note, mortgage or similar obligation, issued by a corporation, other than a public corporation, if at any time before that taxpayer disposes of the security he does not deal at arm’s length with the corporation; (c) a security that is (i) a share, or (ii) a bond, debenture, bill, note, mortgage or similar obligation that was acquired by the taxpayer from a person with whom the taxpayer does not deal at arm’s length (other than from a person subject to subsection 39(4) of the Act for the person’s taxation year that includes the time of the acquisition); (c.1) a security described in subparagraph (c)(i) or (ii) that was acquired by the taxpayer from a person (other than from a person subject to subsection 39(4) of the Act for the person’s taxation year that includes the time of the acquisition) in circumstances to which subsection 85(1) or (2) of the Act applied; (d) a share acquired by that taxpayer under circumstances referred to in section 66.3 of the Act; or (e) a security described in subparagraph (c)(i) or (ii) that was acquired by the taxpayer (i) as proceeds of disposition for a security of the taxpayer to which paragraph (a), (b), (c) or (d) applied in respect of the taxpayer, or (ii) as a result of one or more transactions that can reasonably be considered to have been an exchange or substitution of a security of the taxpayer to which paragraph (a), (b), (c) or (d) applied in respect of the taxpayer. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-946, s. 1; SOR/81-724, s. 1; SOR/94-686, ss. 62, 78(F), 79(F); SOR/98-418, s. 1
Income Tax Regulations — 6202.1
tus, registration statement, offering memorandum or notice, required by law to be filed before distribution of the shares begins, filed before June 18, 1987 with a public authority in Canada in accordance with the securities legislation of the province in which the shares were distributed, or (c) to a partnership in which interests were issued as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice, required by law to be filed before distribution of the interests begins, filed before June 18, 1987 with a public authority in Canada in accordance with the securities legislation of the province in which the interests were distributed, where all interests in the partnership issued at or before the particular time were issued as part of the distribution or prior to the beginning of the distribution; ( action nouvelle ) specified person , in relation to any particular person, means another person with whom the particular person does not deal at arm’s length or any partnership or trust of which the particular person or the other person is a member or beneficiary, respectively. ( personne apparentée ) [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/90-86, s. 2; SOR/92-30, s. 1; SOR/92-681, s. 3(F); SOR/94-315, s. 1; SOR/94-686, ss. 67(F); 71(F), 78(F), 79(F); SOR/99-92, s. 3; SOR/2000-297, s. 1; 2013, c. 34, s. 402
Income Tax Regulations — (a)
excluded obligation , in relation to a share or new right issued by a corporation, means (a) an obligation of the corporation (i) with respect to eligibility for, or the amount of, any assistance under the Canadian Exploration and Development Incentive Program Act , the Canadian Exploration Incentive Program Act , the Ontario Mineral Exploration Program Act , R.S.O., c. O.27, or The Mineral Exploration Incentive Program Act , S.M. 1991-92, c. 45, or (ii) with respect to the making of an election respecting such assistance and the flowing out of such assistance to the holder of the share or the new right in accordance with any of those Acts, (b) an obligation of the corporation, in respect of the share or the new right, to distribute an amount that represents a payment out of assistance to which the corporation is entitled (i) as a consequence of the corporation making expenditures funded by consideration received for shares or new rights issued by the corporation in respect of which the corporation purports to renounce an amount under subsection 66(12.6) of the Act, and (ii) under section 25.1 of the Income Tax Act , R.S.B.C., 1996, c. 215, or (c) an obligation of any person or partnership to effect an undertaking to indemnify a holder of the share or the new right or, where the holder is a partnership, a member of the partnership, for an amount not exceeding the amount of any tax payable under the Act or the laws of a province by the holder or the member of the partnership, as the case may be, as a consequence of (i) the failure of the corporation to renounce an amount to the holder in respect of the share or the new right, or (ii) a reduction, under subsection 66(12.73) of the Act, of an amount purported to be renounced to the holder in respect of the share or the new right; ( obligation exclue )
Income Tax Regulations — (a)
new right means a right that is issued after December 20, 2002 to acquire a share of the capital stock of a corporation, other than a right that is issued at a particular time before 2003 (a) pursuant to an agreement in writing made on or before December 20, 2002, (b) as part of a distribution of rights to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice, required by law to be filed before distribution of the rights begins, filed on or before December 20, 2002 with a public authority in Canada in accordance with the securities legislation of the province in which the rights are distributed, or (c) to a partnership interests in which were issued as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice, required by law to be filed before distribution of the interests begins, filed on or before December 20, 2002 with a public authority in Canada in accordance with the securities legislation of the province in which the interests are distributed, where all interests in the partnership issued at or before the particular time were issued (i) as part of the distribution, or (ii) before the beginning of the distribution; ( nouveau droit )
Income Tax Regulations — (a)
new share means a share of the capital stock of a corporation issued after June 17, 1987, other than a share issued at a particular time before 1989 (a) pursuant to an agreement in writing entered into before June 18, 1987, (b) as part of a distribution of shares to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice, required by law to be filed before distribution of the shares begins, filed before June 18, 1987 with a public authority in Canada in accordance with the securities legislation of the province in which the shares were distributed, or (c) to a partnership in which interests were issued as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice, required by law to be filed before distribution of the interests begins, filed before June 18, 1987 with a public authority in Canada in accordance with the securities legislation of the province in which the interests were distributed, where all interests in the partnership issued at or before the particular time were issued as part of the distribution or prior to the beginning of the distribution; ( action nouvelle )
Income Tax Regulations — Income Tax Regulations
specified person , in relation to any particular person, means another person with whom the particular person does not deal at arm’s length or any partnership or trust of which the particular person or the other person is a member or beneficiary, respectively. ( personne apparentée )