Income Tax Act — I-3.3 162
ed charity) or partnership who fails to file, in the manner required by the regulations, one or more information returns of a type prescribed for the purpose of this subsection is liable to a penalty equal to (a) where the number of those information returns is greater than 5 and less than 51, $125; (a.1) where the number of those information returns is greater than 50 and less than 251, $250; (b) where the number of those information returns is greater than 250 and less than 501, $500; (c) where the number of those information returns is greater than 500 and less than 2,501, $1,500; (d) where the number of those information returns is greater than 2,500, $2,500; and (e) in any other case, nil. Failure to make partnership information return (7.1) Where a member of a partnership fails to file an information return as a member of the partnership for a fiscal period of the partnership as and when required by this Act or the regulations and subsection 162(10) does not set out a penalty for the failure, the partnership is liable to a penalty equal to the greater of $100 and the product obtained when $25 is multiplied by the number of days, not exceeding 100, during which the failure continues. Failure to file in appropriate manner — return of income (7.2) Every person who fails to file a return of income for a taxation year as required by subsection 150.1(2.1) is liable to a penalty equal to $1,000. Failure to file in appropriate manner — tax preparer (7.3) Every tax preparer who fails to file a return of income as required by subsection 150.1(2.3) is liable to a penalty equal to (a) $25 for each such failure in respect of a return of an individual; and (b) $100 for each such failure in respect of a return of a corporation. Penalty — electronic payments (7.4) Every person who fails to comply with subsection 160.5(2) is liable to a penalty equal to $100 for each such failure. Repeated failure to file (8) Where (a) a penalty was payable under subsection 162(7.1) in respect of a failure by a member of a partnership to file an information return as a member of the partnership for a fiscal period of the partnership, (b) a demand for the return or for information required to be contained in the return has been served under section 233 on the member, and (c) a penalty was payable under subsection 162(7.1) in respect of the failure by a member of a partnership to file an information return as a member of the partnership for any of the 3 preceding fiscal periods, the partnership is liable, in addition to the penalty under subsection 162(7.1), to a penalty of $100 for each member of the partnership for each month or part of a month, not exceeding 24 months, during which the failure referred to in paragraph 162(8)(a) continues. Rules — partnership liable to a penalty (8.1) If a partnership is liable to a penalty under any of subsections (5) to (7.1), (7.3), (7.4), (8) and (10), then sections 152, 158 to 160.1, 161 and 164 to 167 and Division J apply, with any modifications that the circumstances require, to the penalty as if the partnership were a corporation. (9) [Repealed, 1998, c. 19, s. 188(4)] Failure to furnish foreign-based information (10) Every person or partnership who, (a) knowingly or under circumstances amounting to gross negligence, fails to file an information return as and when required by any of sections 233.1 to 233.4 and 233.8, or (b) where paragraph 162(10)(a) does not apply, knowingly or under circumstances amounting to gross negligence, fails to comply with a demand under section 233 to file a return is liable to a penalty equal to the amount determined by the formula ($500 × A × B) - C where A is (c) where paragraph 162(10)(a) applies, the lesser of 24 and the number of months, beginning with the month in which the return was required to be filed, during any part of which the return has not been filed, and (d) where paragraph 162(10)(b) applies, the lesser of 24 and the number of months, beginning with the month in whic