Income Tax Act — I-3.3 115.2
Definitions 115.2 (1) The definitions in this subsection apply in this section. Canadian investor , at any time in respect of a non-resident person, means a person that the non-resident person knows, or ought to know after reasonable inquiry, is at that time resident in Canada. ( investisseur canadien ) Canadian service provider means a corporation resident in Canada, a trust resident in Canada or a Canadian partnership. ( fournisseur de services canadien ) designated investment services provided to a person or partnership means any one or more of the services described in the following paragraphs: (a) investment management and advice with respect to qualified investments, regardless of whether the manager has discretionary authority to buy or sell; (b) purchasing and selling qualified investments, exercising rights incidental to the ownership of qualified investments such as voting, conversion and exchange, and entering into and executing agreements with respect to such purchasing and selling and the exercising of such rights; (c) investment administration services, such as receiving, delivering and having custody of investments, calculating and reporting investment values, receiving subscription amounts from, and paying distributions and proceeds of disposition to, investors in and beneficiaries of the person or partnership, record keeping, accounting and reporting to the person or partnership and its investors and beneficiaries; and (d) in the case of a corporation, trust or partnership the only undertaking of which is the investing of its funds in qualified investments, marketing investments in the corporation, trust or partnership to non-resident investors. ( services de placement déterminés ) promoter of a corporation, trust or partnership means a particular person or partnership that initiates or directs the founding, organization or substantial reorganization of the corporation, trust or partnership, and a person or partnership that is affiliated with the particular person or partnership. ( promoteur ) qualified investment of a person or partnership means (a) a share of the capital stock of a corporation, or an interest in a partnership, trust, entity, fund or organization, other than a share or an interest (i) that is either (A) not listed on a designated stock exchange, or (B) listed on a designated stock exchange, if the person or partnership, together with all persons with whom the person or partnership does not deal at arm’s length, owns 25% or more of the issued shares of any class of the capital stock of the corporation or of the total value of interests in the partnership, entity, trust, fund or organization, as the case may be, and (ii) of which more than 50% of the fair market value is derived from one or more of (A) real or immovable property situated in Canada, (B) Canadian resource property, and (C) timber resource property; (b) indebtedness; (c) annuities; (d) commodities or commodities futures purchased or sold, directly or indirectly in any manner whatever, on a commodities or commodities futures exchange; (e) currency; and (f) options, interests, rights and forward and futures agreements in respect of property described in any of paragraphs (a) to (e) or this paragraph, and agreements under which obligations are derived from interest rates, from the price of property described in any of those paragraphs, from payments made in respect of such a property by its issuer to holders of the property, or from an index reflecting a composite measure of such rates, prices or payments, whether or not the agreement creates any rights in or obligations regarding the referenced property itself. ( placement admissible ) qualified non-resident [Repealed, 2002, c. 9, s. 35] Not carrying on business in Canada (2) For the purposes of subsections 115(1) and 150(1), Part XIV and section 805 of the Income Tax Regulations , a non-resident person is not considered to be carrying on business in Canada at any particular time so