GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
pre-1986 capital loss balance of an individual for a particular taxation year means the amount determined by the formula (A + B) - (C + D + E + E.1) where A is the total of all amounts each of which is an amount determined by the formula F - G where F is the individual’s net capital loss for a taxation year ending before 1985, and G is the total of all amounts claimed under this section by the individual in respect of that loss in computing the individual’s taxable income for taxation years preceding the particular taxation year, and B is the amount determined by the formula H - I where H is the lesser of (a) the amount of the individual’s net capital loss for the 1985 taxation year, and (b) the amount, if any, by which the amount determined under subparagraph 3(e)(ii) of the Income Tax Act , chapter 148 of the Revised Statutes of Canada, 1952, in respect of the individual for the 1985 taxation year exceeds the amount deductible by reason of paragraph 3(e) of that Act in computing the individual’s taxable income for the 1985 taxation year, andI is the total of all amounts claimed under this section by the individual in respect of the individual’s net capital loss for the 1985 taxation year in computing the individual’s taxable income for taxation years preceding the particular taxation year, and I is the total of all amounts claimed under this section by the individual in respect of the individual’s net capital loss for the 1985 taxation year in computing the individual’s taxable income for taxation years preceding the particular taxation year, C is the total of all amounts deducted under section 110.6 in computing the individual’s taxable income for taxation years that ended before 1988 or begin after October 17, 2000, D is 3/4 of the total of all amounts each of which is an amount deducted under section 110.6 in computing the individual’s taxable income for a taxation year, preceding the particular year, that (a) ended after 1987 and before 1990, or (b) began after February 27, 2000 and ended before October 18, 2000, E is 2/3 of the total of all amounts deducted under section 110.6 in computing the individual’s taxable income for taxation years, preceding the particular year, that ended after 1989 and before February 28, 2000, and E.1 is the amount determined by the formula J × (0.5/K) where J is the amount deducted by the individual under section 110.6 for a taxation year of the individual, preceding the particular year, that includes February 28, 2000 or October 17, 2000, and K is the fraction in paragraph 38(a) that applies to the individual for the individual’s taxation year referred to in the description of J. ( solde des pertes en capital subies avant 1986 )
Income Tax Act — I-3.3
restricted interest and financing expense of a taxpayer for a taxation year means the amount determined by the formula A + B + C where A is the total of all amounts each of which is the portion of an amount that is not deductible in computing the income for the taxation year of the taxpayer from a business or property, or the taxable income of the taxpayer for the year, or does not reduce the amount determined under paragraph 3(b) in respect of the taxpayer for the year, because of subsection 18.2(2), B is the amount determined under paragraph 12(1)(l.2) in respect of the taxpayer for the taxation year, and C is the total of all amounts, each of which is an amount determined by the formula D × E where D is the portion of an amount that is not deductible because of subclause 95(2)(f.11)(ii)(D)(I), or an amount that is included because of subclause 95(2)(f.11)(ii)(D)(II), in determining, in respect of the taxpayer for an affiliate taxation year (as defined in subsection 18.2(1)) of a controlled foreign affiliate of the taxpayer ending in the taxation year, an amount of the affiliate that is described in subparagraph 95(2)(f)(ii), and E is the taxpayer’s specified participating percentage (as defined in subsection 18.2(1)) in respect of the affiliate for the affiliate taxation year; ( dépense d’intérêts et de financement restreinte )
Income Tax Act — I-3.3 111.1
Order of applying provisions 111.1 (1) In computing an individual’s taxable income for a taxation year, the provisions of this Division shall be applied in the following order: sections 110, 110.2, 111, 110.61, 110.62, 110.6 and 110.7. No double deduction (2) No amount may be deducted for a taxation year of an individual, under section 110.6, in respect of any portion of a taxable capital gain to the extent that the portion of the taxable capital gain has been deducted under section 110.61 or 110.62. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 111.1; 2000, c. 19, s. 20 2026, c. 3, s. 39
Income Tax Act — I-3.3 112
om the transferor’s cost of the partnership interest because of subsection (11), other than an amount to which subsection (3.1) would apply. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 112; 1994, c. 7, Sch. II, s. 84, c. 21, s. 51; 1995, c. 21, s. 56; 1998, c. 19, s. 131; 2001, c. 17, ss. 88, 251; 2007, c. 35, s. 68; 2011, c. 24, s. 22; 2013, c. 34, s. 242, c. 40, s. 48; 2014, c. 39, s. 31; 2016, c. 7, s. 14; 2017, c. 33, s. 41; 2018, c. 27, s. 10 2024, c. 15, s. 28 2026, c. 3, s. 40
Income Tax Act — I-3.3 (a)
exempt share means (a) a prescribed share, (b) a share of the capital stock of a corporation issued before 5:00 p.m. Eastern Standard Time, November 27, 1986, other than a share held at that time (i) by the issuer, or (ii) by any person or partnership where the issuer may become entitled to receive any amount after that time by way of subscription proceeds or contribution of capital with respect to that share pursuant to an agreement made before that time, or (c) a share that was, at the time the dividend referred to in subsection 112(2.4) was received, a share described in paragraph (e) of the definition term preferred share in subsection 248(1) during the applicable period referred to in that paragraph; ( action exclue )
Income Tax Act — I-3.3
investor means the particular corporation referred to in subsection 112(2.4) and a person with whom that corporation does not deal at arm’s length and any partnership or trust of which that corporation, or a person with whom that corporation does not deal at arm’s length, is a member or beneficiary, but does not include the other corporation referred to in that subsection; ( investisseur )
Income Tax Act — I-3.3
issuer means the other corporation referred to in subsection 112(2.4) and a person with whom that corporation does not deal at arm’s length and any partnership or trust of which that corporation, or a person with whom that corporation does not deal at arm’s length, is a member or beneficiary, but does not include the particular corporation referred to in that subsection. ( émetteur )
Income Tax Act — I-3.3 113
n (other than subsection (5)), all or any portion of a particular amount is deemed by subsection (5) not to be a dividend received by a corporation on a share of the capital stock of a foreign affiliate in a taxation year of the corporation, there may be deducted from the corporation’s income for the taxation year for the purpose of computing its taxable income for the year an amount equal to the lesser of (a) the particular amount or portion of the particular amount, as the case may be, and (b) the amount determined by the formula A × B where A is the non-business-income tax paid by the corporation applicable to the particular amount or portion of the particular amount, as the case may be, and B is the corporation’s relevant tax factor for the year. Filing Requirement (7) Each corporation shall file with its return of income for a taxation year a prescribed form containing prescribed information if subsection (5) deems an amount not to be a dividend received by the corporation on a share of the capital stock of a foreign affiliate. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 113; 2013, c. 34, ss. 72, 243 2024, c. 15, s. 29
Income Tax Act — I-3.3
deductible , in relation to an amount in respect of a payment, in computing relevant foreign income or profits, has the same meaning as in subsection 18.4(1). ( déductible )
Income Tax Act — I-3.3
equity interest has the same meaning as in subsection 18.4(1). ( participation au capital )
Income Tax Act — I-3.3
foreign expense restriction rule has the same meaning as in subsection 18.4(1). ( régle étrangère de restriction des dépenses )
Income Tax Act — I-3.3
foreign hybrid mismatch rule has the same meaning as in subsection 18.4(1). ( règle étrangère d’asymétrie hybride )
Income Tax Act — I-3.3
foreign taxation year of an entity has the same meaning as in subsection 18.4(1). ( année d’imposition étrangère )
Income Tax Act — I-3.3
non-business-income tax paid by a taxpayer has the meaning assigned by subsection 126(7); ( impôt sur le revenu ne provenant pas d’une entreprise )
Income Tax Act — I-3.3
relevant foreign income or profits of an entity for a foreign taxation year has the same meaning as in subsection 18.4(1). ( revenus ou bénéfices étrangers pertinents )
Income Tax Act — I-3.3
relevant tax factor has the meaning assigned by subsection 95(1). ( facteur fiscal approprié )
Income Tax Act — I-3.3 114
Individual resident in Canada for only part of year 114 Notwithstanding subsection 2(2), the taxable income for a taxation year of an individual who is resident in Canada throughout part of the year and non-resident throughout another part of the year is the amount, if any, by which (a) the amount that would be the individual’s income for the year if the individual had no income or losses, for the part of the year throughout which the individual was non-resident, other than (i) income or losses described in paragraphs 115(1)(a) to (c), and (ii) income that would have been included in the individual’s taxable income earned in Canada for the year under subparagraph 115(1)(a)(v) if the part of the year throughout which the individual was non-resident were the whole taxation year, exceeds the total of (b) the deductions permitted by subsection 111(1) and, to the extent that they relate to amounts included in computing the amount determined under paragraph (a), the deductions permitted by any of paragraphs 110(1)(d) to (d.2) and (f), and (c) any other deduction permitted for the purpose of computing taxable income to the extent that (i) it can reasonably be considered to be applicable to the part of the year throughout which the individual was resident in Canada, or (ii) if all or substantially all of the individual’s income for the part of the year throughout which the individual was non-resident is included in the amount determined under paragraph (a), it can reasonably be considered to be applicable to that part of the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 114; 1994, c. 7, Sch. II, s. 85, c. 21, s. 52; 1995, c. 21, s. 37; 2001, c. 17, s. 89
Income Tax Act — I-3.3 114.1
114.1 [Repealed, 2001, c. 17, s. 89] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 114.1; 2001, c. 17, s. 89
Income Tax Act — I-3.3 114.2
Deductions in separate returns 114.2 Where a separate return of income with respect to a taxpayer is filed under subsection 70(2), 104(23) or 150(4) for a particular period and another return of income under this Part with respect to the taxpayer is filed for a period ending in the calendar year in which the particular period ends, for the purpose of computing the taxable income under this Part of the taxpayer in those returns, the total of all deductions claimed in all those returns under section 110 shall not exceed the total that could be deducted under that section for the year with respect to the taxpayer if no separate returns were filed under subsections 70(2), 104(23) and 150(4). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1985, c. 45, s. 59; 1988, c. 55, s. 87
Income Tax Act — I-3.3 115.1
Competent authority agreements 115.1 (1) Notwithstanding any other provision of this Act, where the Minister and another person have, under a provision contained in a tax convention or agreement with another country that has the force of law in Canada, entered into an agreement with respect to the taxation of the other person, all determinations made in accordance with the terms and conditions of the agreement shall be deemed to be in accordance with this Act. Transfer of rights and obligations (2) Where rights and obligations under an agreement described in subsection 115.1(1) have been transferred to another person with the concurrence of the Minister, that other person shall be deemed, for the purpose of subsection 115.1(1), to have entered into the agreement with the Minister. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 115.1; 1994, c. 7, Sch. VIII, s. 51
Income Tax Act — I-3.3 115.2
er) that are affiliated with the Canadian service provider does not exceed 25% of the fair market value, at the particular time, of all investments in the entity. Transfer pricing (4) For the purpose of section 247, where subsection (2) applies in respect of services provided to a person that is a corporation or trust or to a partnership, if the Canadian service provider referred to in that subsection does not deal at arm’s length with the promoter of the person or of the partnership, the service provider is deemed not to deal at arm’s length with the person or partnership. (5) [Repealed, 2013, c. 34, s. 244] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2000, c. 19, s. 21; 2002, c. 9, s. 35; 2007, c. 35, s. 68; 2013, c. 34, ss. 124, 244 2023, c. 26, s. 25
Income Tax Act — I-3.3
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 )
Income Tax Act — I-3.3
Canadian service provider means a corporation resident in Canada, a trust resident in Canada or a Canadian partnership. ( fournisseur de services canadien )
Income Tax Act — I-3.3 (a)
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 )
Income Tax Act — I-3.3
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 )
Income Tax Act — I-3.3 (a)
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 )
Income Tax Act — I-3.3
qualified non-resident [Repealed, 2002, c. 9, s. 35]
Income Tax Act — I-3.3 117.1
eof. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 117.1; 1994, c. 7, Sch. VII, s. 7; 1996, c. 21, s. 22; 1997, c. 25, s. 24; 1998, c. 19, s. 21; 1999, c. 22, s. 30; 2000, c. 14, s. 37, c. 19, s. 23; 2005, c. 19, s. 22; 2006, c. 4, s. 59; 2007, c. 2, s. 19, c. 16, ss. 2, 4, c. 35, s. 35; 2010, c. 25, s. 22; 2013, c. 40, s. 49; 2017, c. 20, s. 11; 2018, c. 12, s. 10 2019, c. 29, s. 14 2021, c. 23, s. 18 2026, c. 1, s. 2 2026, c. 3, s. 41
Income Tax Act — I-3.3 118
h”. Canada Employment Credit (10) For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted the amount determined by the formula A × B where A is the appropriate percentage for the taxation year; and B is the lesser of (a) $1,000, and (b) the total of all amounts, each of which is an amount included in computing the individual’s income for the taxation year from an office or employment or an amount included in the taxpayer’s income for the taxation year because of subparagraph 56(1)(r)(v). Top-up tax credit (11) For the purpose of computing the tax payable under this Part by an individual for a taxation year that is after 2024 and before 2031, there may be deducted the amount determined by the formula (A − B × C) × D where A is the amount determined by the formula E + F where E is the total of all amounts each of which is an amount deducted by the individual in computing the individual’s tax payable for the year under this Part under any of subsections (1), (2), (3) and (10) or any of sections 118.01, 118.041, 118.05, 118.06, 118.07, 118.2, 118.3, 118.5, 118.61, 118.62, 118.7, 118.8 and 118.9, and F is the lesser of (a) the amount deducted by the individual in computing the individual’s tax payable for the year under this Part under section 118.1, and (b) $200 multiplied by the appropriate percentage for the year; B is the appropriate percentage for the year; C is the first dollar amount for the year referred to in paragraph 117(2)(b); and D is, (a) if the taxation year is 2025, 3.45%, and (b) in any other case, 7.14%. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 118; 1994, c. 7, Sch. VII, s. 8, Sch. VIII, s. 52; 1995, c. 3, s. 33; 1997, c. 25, s. 25; 1998, c. 19, s. 134; 1999, c. 22, s. 31; 2000, c. 12, ss. 131, 142, c. 19, s. 24; 2001, c. 17, ss. 93, 243(E); 2005, c. 30, s. 5; 2006, c. 4, s. 60; 2007, c. 2, s. 20, c. 29, s. 9, c. 35, ss. 36, 180; 2009, c. 2, s. 34; 2011, c. 24, s. 23; 2012, c. 31, s. 25; 2013, c. 34, s. 246; 2015, c. 36, s. 30; 2017, c. 20, s. 12, c. 33, s. 42; 2018, c. 12, s. 11 2021, c. 23, s. 19 2023, c. 26, s. 27 2026, c. 3, s. 125
Income Tax Act — I-3.3 (a)
eligible pension income of an individual for a taxation year means (a) if the individual has attained the age of 65 years before the end of the taxation year, the pension income received by the individ-ual in the taxation year, and (b) if the individual has not attained the age of 65 years before the end of the taxation year, the qualified pension income received by the individual in the taxation year; ( revenu de pension déterminé )
Income Tax Act — I-3.3 (a)
pension income received by an individual in a taxation year means the total of (a) the total of all amounts each of which is an amount included in computing the individual’s income for the year that is (i) a payment in respect of a life annuity out of or under a superannuation or pension plan (other than a pooled registered pension plan) or a specified pension plan, (ii) an annuity payment under a registered retirement savings plan, under an “amended plan” as referred to in subsection 146(12) or under an annuity in respect of which an amount is included in computing the individual’s income by reason of paragraph 56(1)(d.2), (iii) a payment out of or under a registered retirement income fund or under an “amended fund” as referred to in subsection 146.3(11), (iii.1) a payment (other than a payment described in subparagraph (i)) under a money purchase provision (as defined in subsection 147.1(1)) of a registered pension plan or under a specified pension plan, (iii.2) an amount included under section 147.5, (iii.3) an amount included under subsection 146.5(2), (iv) an annuity payment under a deferred profit sharing plan or under a “revoked plan” as referred to in subsection 147(15), (v) a payment described in subparagraph 147(2)(k)(v), or (vi) the amount by which an annuity payment included in computing the individual’s income for the year by reason of paragraph 56(1)(d) exceeds the capital element of that payment as determined or established under paragraph 60(a), and (b) the total of all amounts each of which is an amount included in computing the individual’s income for the year by reason of section 12.2 of this Act or paragraph 56(1)(d.1) of the Income Tax Act , chapter 148 of the Revised Statutes of Canada, 1952; ( revenu de pension )
Income Tax Act — I-3.3 (a)
qualified pension income received by an individual in a taxation year means the total of all amounts each of which is an amount included in computing the individual’s income for the year and described in (a) subparagraph (a)(i) of the definition pension income in this subsection, or (b) any of subparagraphs 118(7) qualified pension income (a)(ii) to 118(7) qualified pension income (a)(vi) or paragraph (b) of the definition pension income in this subsection received by the individual as a consequence of the death of a spouse or common-law partner of the individual. ( revenu de pension admissible )