GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
excessive eligible dividend designation , made by a corporation in respect of an eligible dividend paid by the corporation at any time in a taxation year, means (a) unless paragraph (c) applies to the dividend, if the corporation is in the taxation year a Canadian-controlled private corporation or a deposit insurance corporation, the amount, if any, determined by the formula (A - B) × C/A where A is the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in the taxation year, B is the greater of nil and the corporation’s general rate income pool at the end of the taxation year, and C is the amount of the eligible dividend, (b) unless paragraph (c) applies to the dividend, if the corporation is not a corporation described in paragraph (a), the amount, if any, determined by the formula A × B/C where A is the lesser of (i) the total of all amounts each of which is an eligible dividend paid by the corporation at that time, and (ii) the corporation’s low rate income pool at that time, B is the amount of the eligible dividend, and C is the amount determined under subparagraph (i) of the description of A, and (c) an amount equal to the amount of the eligible dividend, if it is reasonable to consider that the eligible dividend was paid in a transaction, or as part of a series of transactions, one of the main purposes of which was to artificially maintain or increase the corporation’s general rate income pool, or to artificially maintain or decrease the corporation’s low rate income pool; ( désignation excessive de dividende déterminé )
Income Tax Act — I-3.3 (a)
general rate factor of a corporation for a taxation year is the total of (a) that proportion of 0.68 that the number of days in the taxation year that are before 2010 is of the number of days in the taxation year, (b) that proportion of 0.69 that the number of days in the taxation year that are in 2010 is of the number of days in the taxation year, (c) that proportion of 0.70 that the number of days in the taxation year that are in 2011 is of the number of days in the taxation year, and (d) that proportion of 0.72 that the number of days in the taxation year that are after 2011 is of the number of days in the taxation year; ( facteur du taux géneral )
Income Tax Act — I-3.3 (a)
ation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, and J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years; ( compte de revenu à taux général )
Income Tax Act — I-3.3 (a)
low rate income pool , at any particular time in a particular taxation year, of a corporation (in this definition referred to as the “non-CCPC”) that is resident in Canada and is in the particular taxation year neither a Canadian-controlled private corporation nor a deposit insurance corporation, is the amount determined by the formula (A + B + C + D + E + F) - (G + H) where A is the non-CCPC’s low rate income pool at the end of its preceding taxation year, B is the total of all amounts each of which is an amount deductible under section 112 in computing the non-CCPC’s taxable income for the year in respect of a taxable dividend (other than an eligible dividend) that became payable, in the particular taxation year but before the particular time, to the non-CCPC by a corporation resident in Canada, C is the total of all amounts determined under subsections (8) to (10) in respect of the non-CCPC for the particular taxation year, D is (a) if the non-CCPC was a substantive CCPC at any time in its preceding taxation year or would, but for paragraph (d) of the definition Canadian-controlled private corporation in subsection 125(7), be a Canadian-controlled private corporation in its preceding taxation year, 80% of its aggregate investment income for its preceding taxation year, and (b) in any other case, nil, E is (a) if the non-CCPC was not a Canadian-controlled private corporation in its preceding taxation year, 80% of the amount determined by multiplying the amount, if any, deducted by the corporation under subsection 125(1) for that preceding taxation year by the quotient obtained by dividing 100 by the rate of the deduction provided under that subsection for that preceding taxation year, and (b) in any other case, nil, F is (a) if the non-CCPC was an investment corporation in its preceding taxation year, four times the amount, if any, deducted by it under subsection 130(1) for its preceding taxation year, and (b) in any other case, nil, G is the total of all amounts each of which is a taxable dividend (other than an eligible dividend, a capital gains dividend within the meaning assigned by subsection 130.1(4) or 131(1) or a taxable dividend deductible by the non-CCPC under subsection 130.1(1) in computing its income for the particular taxation year or for its preceding taxation year) that became payable by the non-CCPC (a) in the particular taxation year but before the particular time, or (b) in the preceding taxation year, but only to the extent of the lesser of (i) the amount included under the description of D in the particular taxation year, and (ii) the portion of the taxable dividend that did not reduce the non-CCPC’s low rate income pool in the preceding taxation year, and H is the total of all amounts each of which is an excessive eligible dividend designation made by the non-CCPC in the particular taxation year but before the particular time; ( compte de revenu à taux réduit )
Income Tax Act — I-3.3 (a)
paid-up capital at any particular time means, (a) in respect of a share of any class of the capital stock of a corporation, an amount equal to the paid-up capital at that time, in respect of the class of shares of the capital stock of the corporation to which that share belongs, divided by the number of issued shares of that class outstanding at that time, (b) in respect of a class of shares of the capital stock of a corporation, (i) where the particular time is before May 7, 1974, an amount equal to the paid-up capital in respect of that class of shares at the particular time, computed without reference to the provisions of this Act, (ii) where the particular time is after May 6, 1974, and before April 1, 1977, an amount equal to the paid-up capital in respect of that class of shares at the particular time, computed in accordance with the Income Tax Act , chapter 148 of the Revised Statutes of Canada, 1952, as it read on March 31, 1977, and (iii) if the particular time is after March 31, 1977, an amount equal to the paid-up capital in respect of that class of shares at the particular time, computed without reference to the provisions of this Act except subsections 51(3) and 66.3(2) and (4), sections 84.1 and 84.2, subsections 85(2.1), 85.1(2.1) and (8), 86(2.1), 87(3) and (9), paragraph 128.1(1)(c.3), subsections 128.1(2) and (3), section 135.2, subsections 138(11.7), 139.1(6) and (7), 148(7), 192(4.1) and 194(4.1) and sections 212.1 and 212.3, except that, where the corporation is a cooperative corporation (within the meaning assigned by subsection 136(2)) or a credit union and the statute by or under which it was incorporated does not provide for paid-up capital in respect of a class of shares, the paid-up capital in respect of that class of shares at the particular time, computed without reference to the provisions of this Act, shall be deemed to be the amount, if any, by which (iv) the total of the amounts received by the corporation in respect of shares of that class issued and outstanding at that time exceeds (v) the total of all amounts each of which is an amount or part thereof described in subparagraph (iv) repaid by the corporation to persons who held any of the issued shares of that class before that time, and (c) in respect of all the shares of the capital stock of a corporation, an amount equal to the total of all amounts each of which is an amount equal to the paid-up capital in respect of any class of shares of the capital stock of the corporation at the particular time; ( capital versé )
Income Tax Act — I-3.3 (a)
private corporation at any particular time means a corporation that, at the particular time, is resident in Canada, is not a public corporation and is not controlled by one or more public corporations (other than prescribed venture capital corporations) or prescribed federal Crown corporations or by any combination thereof and, for greater certainty, for the purposes of determining at any particular time when a corporation last became a private corporation, (a) a corporation that was a private corporation at the commencement of its 1972 taxation year and thereafter without interruption until the particular time shall be deemed to have last become a private corporation at the end of its 1971 taxation year, and (b) a corporation incorporated after 1971 that was a private corporation at the time of its incorporation and thereafter without interruption until the particular time shall be deemed to have last become a private corporation immediately before the time of its incorporation; ( société privée )
Income Tax Act — I-3.3 (a)
public corporation at any particular time means (a) a corporation that is resident in Canada at the particular time if at that time a class of shares of the capital stock of the corporation is listed on a designated stock exchange in Canada, (b) a corporation (other than a prescribed labour-sponsored venture capital corporation) that is resident in Canada at the particular time if at any time after June 18, 1971 and (i) before the particular time, it elected in prescribed manner to be a public corporation, and at the time of the election it complied with prescribed conditions relating to the number of its shareholders, the dispersal of ownership of its shares and the public trading of its shares, or (ii) before the day that is 30 days before the day that includes the particular time it was, by notice in writing to the corporation, designated by the Minister to be a public corporation and at the time it was so designated it complied with the conditions referred to in subparagraph (i), unless after the election or designation, as the case may be, was made and before the particular time, it ceased to be a public corporation because of an election or designation under paragraph (c), or (c) a corporation (other than a prescribed labour-sponsored venture capital corporation) that is resident in Canada at the particular time if, at any time after June 18, 1971 and before the particular time it was a public corporation, unless after the time it last became a public corporation and (i) before the particular time, it elected in prescribed manner not to be a public corporation, and at the time it so elected it complied with prescribed conditions relating to the number of its shareholders, the dispersal of ownership of its shares and the public trading of its shares, or (ii) before the day that is 30 days before the day that includes the particular time, it was, by notice in writing to the corporation, designated by the Minister not to be a public corporation and at the time it was so designated it complied with the conditions referred to in subparagraph (i), and where a corporation has, on or before its filing-due date for its first taxation year, become a public corporation, it is, if it so elects in its return of income for the year, deemed to have been a public corporation from the beginning of the year until the time when it so became a public corporation; ( société publique )
Income Tax Act — I-3.3 (a)
taxable Canadian corporation means a corporation that, at the time the expression is relevant, (a) was a Canadian corporation, and (b) was not, by reason of a statutory provision, exempt from tax under this Part; ( société canadienne imposable )
Income Tax Act — I-3.3 (a)
taxable dividend means a dividend other than (a) a dividend in respect of which the corporation paying the dividend has elected in accordance with subsection 83(1) as it read prior to 1979 or in accordance with subsection 83(2), and (b) a qualifying dividend paid by a public corporation to shareholders of a prescribed class of tax-deferred preferred shares of the corporation within the meaning of subsection 83(1). ( dividende imposable )
Income Tax Act — I-3.3 90
n respect of the other affiliate at the determination time, or (ii) a partnership (referred to in this paragraph as the “borrower partnership”) of which one or more other foreign affiliates of the taxpayer are members, the total of each percentage that is determined by the following formula in respect of each such member G × H/I where G is the percentage that is or would be, if the taxpayer were a corporation resident in Canada, the taxpayer’s surplus entitlement percentage in respect of a particular member of the borrower partnership at the determination time, H is the fair market value, at the determination time, of the particular member’s direct or indirect interest in the borrower partnership, and I is the fair market value, at the determination time, of all interests in the borrower partnership, and (b) in any other case, nil. ( montant déterminé ) specified debtor , in respect of a taxpayer resident in Canada, at any time, means (a) the taxpayer; (b) a person with which the taxpayer does not, at that time, deal at arm’s length, other than (i) a non-resident corporation that is at that time a controlled foreign affiliate , within the meaning assigned by section 17, of the taxpayer, or (ii) a non-resident corporation (other than a corporation that is described in subparagraph (i)) that is, at that time, a foreign affiliate of the taxpayer, if each share of the capital stock of the affiliate is owned at that time by any of (A) the taxpayer, (B) persons resident in Canada, (C) non-resident persons that deal at arm’s length with the taxpayer, (D) persons described in subparagraph (i), (E) partnerships, each member of which is described in any of clauses (A) to (F), and (F) a corporation each shareholder of which is described in any of clauses (A) to (F); (c) a partnership a member of which is at that time a person or partnership that is a specified debtor in respect of the taxpayer because of paragraph (a) or (b); and (d) if the taxpayer is a partnership, (i) any member of the partnership that is a corporation resident in Canada if the creditor affiliate, or member of the creditor partnership, as the case may be, is, at that time, a foreign affiliate of the corporation, (ii) a person with which a corporation referred to in subparagraph (i) does not, at that time, deal at arm’s length, other than a controlled foreign affiliate, within the meaning assigned by section 17, of the partnership or of a member of the partnership that owns, directly or indirectly, an interest in the partnership representing at least 90% of the fair market value of all such interests, or (iii) a partnership a member of which is at that time a person that is a specified debtor in respect of the taxpayer because of subparagraph (i) or (ii). ( débiteur déterminé ) upstream deposit has the same meaning as in subsection 95(2.43). ( dépôt en amont ) [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 90; 2013, c. 34, s. 66; 2014, c. 39, s. 20; 2017, c. 33, s. 27 2023, c. 26, s. 18
Income Tax Act — I-3.3
eligible bank affiliate has the same meaning as in subsection 95(2.43). ( filiale bancaire admissible )
Income Tax Act — I-3.3
eligible Canadian bank has the same meaning as in subsection 95(2.43). ( banque canadienne admissible )
Income Tax Act — I-3.3
eligible Canadian indebtedness has the same meaning as in subsection 95(2.43). ( dettes canadiennes admissibles )
Income Tax Act — I-3.3
excess liquidity has the same meaning as in subsection 95(2.43). ( liquidités excédentaires )
Income Tax Act — I-3.3 (a)
specified amount , in respect of a loan or indebtedness that is required by subsection (6) to be included in computing the income of a taxpayer for a taxation year, means the amount determined by the formula A × (B – C) where A is the amount of the loan or indebtedness, and B is, in the case of (a) a creditor affiliate of the taxpayer, the percentage that is or would be, if the taxpayer referred to in subsection (6) were a corporation resident in Canada, the taxpayer’s surplus entitlement percentage (in this definition determined without reference to subsection 5908(1) of the Income Tax Regulations ) in respect of the creditor affiliate at the time (referred to in this definition as the “determination time”) referred to in subsection (6), or (b) a creditor partnership of which a foreign affiliate of the taxpayer is a member, the total of each percentage determined, in respect of a member (referred to in this paragraph as a “member affiliate”) of the creditor partnership that is a foreign affiliate of the taxpayer, by the formula D × E/F where D is the percentage that is or would be, if the taxpayer were a corporation resident in Canada, the taxpayer’s surplus entitlement percentage in respect of a particular member affiliate at the determination time, E is the fair market value, at the determination time, of the particular member affiliate’s direct or indirect interest in the creditor partnership, and F is the fair market value, at the determination time, of all interests in the creditor partnership, and C is, (a) if the debtor under the loan or indebtedness is (i) another foreign affiliate of the taxpayer, the percentage that is or would be, if the taxpayer were a corporation resident in Canada, the taxpayer’s surplus entitlement percentage in respect of the other affiliate at the determination time, or (ii) a partnership (referred to in this paragraph as the “borrower partnership”) of which one or more other foreign affiliates of the taxpayer are members, the total of each percentage that is determined by the following formula in respect of each such member G × H/I where G is the percentage that is or would be, if the taxpayer were a corporation resident in Canada, the taxpayer’s surplus entitlement percentage in respect of a particular member of the borrower partnership at the determination time, H is the fair market value, at the determination time, of the particular member’s direct or indirect interest in the borrower partnership, and I is the fair market value, at the determination time, of all interests in the borrower partnership, and (b) in any other case, nil. ( montant déterminé )
Income Tax Act — I-3.3 (a)
specified debtor , in respect of a taxpayer resident in Canada, at any time, means (a) the taxpayer; (b) a person with which the taxpayer does not, at that time, deal at arm’s length, other than (i) a non-resident corporation that is at that time a controlled foreign affiliate , within the meaning assigned by section 17, of the taxpayer, or (ii) a non-resident corporation (other than a corporation that is described in subparagraph (i)) that is, at that time, a foreign affiliate of the taxpayer, if each share of the capital stock of the affiliate is owned at that time by any of (A) the taxpayer, (B) persons resident in Canada, (C) non-resident persons that deal at arm’s length with the taxpayer, (D) persons described in subparagraph (i), (E) partnerships, each member of which is described in any of clauses (A) to (F), and (F) a corporation each shareholder of which is described in any of clauses (A) to (F); (c) a partnership a member of which is at that time a person or partnership that is a specified debtor in respect of the taxpayer because of paragraph (a) or (b); and (d) if the taxpayer is a partnership, (i) any member of the partnership that is a corporation resident in Canada if the creditor affiliate, or member of the creditor partnership, as the case may be, is, at that time, a foreign affiliate of the corporation, (ii) a person with which a corporation referred to in subparagraph (i) does not, at that time, deal at arm’s length, other than a controlled foreign affiliate, within the meaning assigned by section 17, of the partnership or of a member of the partnership that owns, directly or indirectly, an interest in the partnership representing at least 90% of the fair market value of all such interests, or (iii) a partnership a member of which is at that time a person that is a specified debtor in respect of the taxpayer because of subparagraph (i) or (ii). ( débiteur déterminé )
Income Tax Act — I-3.3
upstream deposit has the same meaning as in subsection 95(2.43). ( dépôt en amont )
Income Tax Act — I-3.3 91
ny amount required by subsection 92(1) to be deducted from the adjusted cost base to the partnership of the share of the capital stock of the foreign affiliate equal to the amount by which the income of the member from the partnership under subsection 96(1) was reduced because of the amount deducted in computing the income of the partnership under subsection (2), (4) or (5) and deducted from that adjusted cost base is deemed to be an amount required by subsection 92(1) to be added or deducted, as the case may be, in computing the adjusted cost base to the taxpayer of the share. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 91; 1994, c. 7, Sch. II, s. 68; 2001, c. 17, s. 68; 2007, c. 35, s. 24; 2009, c. 2, s. 23; 2013, c. 34, s. 226; 2017, c. 33, s. 28 2024, c. 15, s. 21
Income Tax Act — I-3.3
aggregate participating percentage , of a taxpayer in respect of a foreign affiliate of the taxpayer for a taxation year of the affiliate, means the total of all amounts, each of which is the participating percentage, in respect of the affiliate, of a share of the capital stock of a corporation that is owned by the taxpayer at the end of the taxation year. ( pourcentage de participation total )
Income Tax Act — I-3.3 (a)
connected person , in respect of a particular taxpayer, means a person that — at or immediately after the particular time at which subsection (1.2) applies in respect of a foreign affiliate of the particular taxpayer — is resident in Canada and (a) does not deal at arm’s length with the particular taxpayer; or (b) deals at arm’s length with the particular taxpayer, if (i) the foreign affiliate is a foreign affiliate of the person at the particular time, and (ii) the aggregate participating percentage of the person in respect of the foreign affiliate for the affiliate’s ordinary taxation year may reasonably be considered to have increased as a result of the triggering event that gave rise to the application of subsection (1.2). ( personne rattachée )
Income Tax Act — I-3.3 (a)
connected partnership , in respect of a particular taxpayer, means a partnership if, at or immediately after the particular time at which subsection (1.2) applies in respect of a foreign affiliate of the particular taxpayer, (a) the particular taxpayer or a connected person in respect of the particular taxpayer is, directly or indirectly through one or more partnerships, a member of the partnership; or (b) if paragraph (a) does not apply, (i) the foreign affiliate is a foreign affiliate of the partnership at the particular time, and (ii) the aggregate participating percentage of the partnership in respect of the foreign affiliate for the affiliate’s ordinary taxation year may reasonably be considered to have increased as a result of the triggering event that gave rise to the application of subsection (1.2). ( société de personnes rattachée )