GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Canada–United States Tax Convention Act, 1984 — C-10.7 (e) (i)
(e) (i) a company, 50 percent or more of the aggregate vote and value of the shares of which and 50 percent or more of the vote and value of each disproportionate class of shares (in neither case including debt substitute shares) of which is not owned, directly or indirectly, by persons other than qualifying persons; or (ii) a trust, 50 percent or more of the beneficial interest in which and 50 percent or more of each disproportionate interest in which, is not owned, directly or indirectly, by persons other than qualifying persons; where the amount of the expenses deductible from gross income (as determined in the State of residence of the company or trust) that are paid or payable by the company or trust, as the case may be, for its preceding fiscal period (or, in the case of its first fiscal period, that period) directly or indirectly, to persons that are not qualifying persons is less than 50 percent of its gross income for that period;
Canada–United States Tax Convention Act, 1984 — C-10.7 (ii)
(ii) a trust, 50 percent or more of the beneficial interest in which and 50 percent or more of each disproportionate interest in which, is not owned, directly or indirectly, by persons other than qualifying persons;
Canada–United States Tax Convention Act, 1984 — C-10.7
where the amount of the expenses deductible from gross income (as determined in the State of residence of the company or trust) that are paid or payable by the company or trust, as the case may be, for its preceding fiscal period (or, in the case of its first fiscal period, that period) directly or indirectly, to persons that are not qualifying persons is less than 50 percent of its gross income for that period;
Canada–United States Tax Convention Act, 1984 — C-10.7 (g)
(g) a not-for-profit organization, provided that more than half of the beneficiaries, members or participants of the organization are qualifying persons;
Canada–United States Tax Convention Act, 1984 — C-10.7 (h)
(h) a trust, company, organization or other arrangement described in paragraph 2 of Article XXI (Exempt Organizations) and established for the purpose of providing benefits primarily to individuals who are qualifying persons, or persons who were qualifying persons within the five preceding years; or
Canada–United States Tax Convention Act, 1984 — C-10.7 (i)
(i) a trust, company, organization or other arrangement described in paragraph 3 of Article XXI (Exempt Organizations) provided that the beneficiaries of the trust, company, organization or other arrangement are described in subparagraph (g) or (h).
Canada–United States Tax Convention Act, 1984 — C-10.7 3
3 Where a person is a resident of a Contracting State and is not a qualifying person, and that person, or a person related thereto, is engaged in the active conduct of a trade or business in that State (other than the business of making or managing investments, unless those activities are carried on with customers in the ordinary course of business by a bank, an insurance company, a registered securities dealer or a deposit-taking financial institution), the benefits of this Convention shall apply to that resident person with respect to income derived from the other Contracting State in connection with or incidental to that trade or business (including any such income derived directly or indirectly by that resident person through one or more other persons that are residents of that other State), but only if that trade or business is substantial in relation to the activity carried on in that other State giving rise to the income in respect of which benefits provided under this Convention by that other State are claimed.
Canada–United States Tax Convention Act, 1984 — C-10.7 4
4 A company that is a resident of a Contracting State shall also be entitled to the benefits of Articles X (Dividends), XI (Interest) and XII (Royalties) if: (a) Its shares that represent more than 90 percent of the aggregate vote and value of all of its shares and at least 50 percent of the vote and value of any disproportionate class of shares (in neither case including debt substitute shares) are owned, directly or indirectly, by persons each of whom is a qualifying person or a person who: (i) Is a resident of a country with which the other Contracting State has a comprehensive income tax convention and is entitled to all of the benefits provided by that other State under that convention; (ii) Would qualify for benefits under paragraphs 2 or 3 if that person were a resident of the first-mentioned State (and, for the purposes of paragraph 3, if the business it carried on in the country of which it is a resident were carried on by it in the first-mentioned State); and (iii) Would be entitled to a rate of tax in the other Contracting State under the convention between that person’s country of residence and that other State, in respect of the particular class of income for which benefits are being claimed under this Convention, that is at least as low as the rate applicable under this Convention; and (b) The amount of the expenses deductible from gross income (as determined in the company’s State of residence) that are paid or payable by the company for its preceding fiscal period (or, in the case of its first fiscal period, that period) directly or indirectly to persons that are not qualifying persons is less than 50 percent of the company’s gross income for that period.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) Its shares that represent more than 90 percent of the aggregate vote and value of all of its shares and at least 50 percent of the vote and value of any disproportionate class of shares (in neither case including debt substitute shares) are owned, directly or indirectly, by persons each of whom is a qualifying person or a person who: (i) Is a resident of a country with which the other Contracting State has a comprehensive income tax convention and is entitled to all of the benefits provided by that other State under that convention; (ii) Would qualify for benefits under paragraphs 2 or 3 if that person were a resident of the first-mentioned State (and, for the purposes of paragraph 3, if the business it carried on in the country of which it is a resident were carried on by it in the first-mentioned State); and (iii) Would be entitled to a rate of tax in the other Contracting State under the convention between that person’s country of residence and that other State, in respect of the particular class of income for which benefits are being claimed under this Convention, that is at least as low as the rate applicable under this Convention; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (i)
(i) Is a resident of a country with which the other Contracting State has a comprehensive income tax convention and is entitled to all of the benefits provided by that other State under that convention;
Canada–United States Tax Convention Act, 1984 — C-10.7 (ii)
(ii) Would qualify for benefits under paragraphs 2 or 3 if that person were a resident of the first-mentioned State (and, for the purposes of paragraph 3, if the business it carried on in the country of which it is a resident were carried on by it in the first-mentioned State); and
Canada–United States Tax Convention Act, 1984 — C-10.7 (iii)
(iii) Would be entitled to a rate of tax in the other Contracting State under the convention between that person’s country of residence and that other State, in respect of the particular class of income for which benefits are being claimed under this Convention, that is at least as low as the rate applicable under this Convention; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) The amount of the expenses deductible from gross income (as determined in the company’s State of residence) that are paid or payable by the company for its preceding fiscal period (or, in the case of its first fiscal period, that period) directly or indirectly to persons that are not qualifying persons is less than 50 percent of the company’s gross income for that period.
Canada–United States Tax Convention Act, 1984 — C-10.7 5
5 For the purposes of this Article, (a) The term debt substitute share means: (i) A share described in paragraph (e) of the definition term preferred share in the Income Tax Act , as it may be amended from time to time without changing the general principle thereof; and (ii) Such other type of share as may be agreed upon by the competent authorities of the Contracting States. (b) The term disproportionate class of shares means any class of shares of a company resident in one of the Contracting States that entitles the shareholder to disproportionately higher participation, through dividends, redemption payments or otherwise, in the earnings generated in the other State by particular assets or activities of the company; (c) The term disproportionate interest in a trust means any interest in a trust resident in one of the Contracting States that entitles the interest holder to disproportionately higher participation in, or claim to, the earnings generated in the other State by particular assets or activities of the trust; (d) The term not-for-profit organization of a Contracting State means an entity created or established in that State and that is, by reason of its not-for-profit status, generally exempt from income taxation in that State, and includes a private foundation, charity, trade union, trade association or similar organization; (e) The term principal class of shares of a company means the ordinary or common shares of the company, provided that such class of shares represents the majority of the voting power and value of the company. If no single class of ordinary or common shares represents the majority of the aggregate voting power and value of the company, the principal class of shares are those classes that in the aggregate represent a majority of the aggregate voting power and value of the company; and (f) The term recognized stock exchange means: (i) The NASDAQ System owned by the National Association of Securities Dealers, Inc. and any stock exchange registered with the Securities and Exchange Commission as a national securities exchange for purposes of the Securities Exchange Act of 1934; (ii) Canadian stock exchanges that are “prescribed stock exchanges” or “designated stock exchanges” under the Income Tax Act ; and (iii) Any other stock exchange agreed upon by the Contracting States in an exchange of notes or by the competent authorities of the Contracting States.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) The term debt substitute share means: (i) A share described in paragraph (e) of the definition term preferred share in the Income Tax Act , as it may be amended from time to time without changing the general principle thereof; and (ii) Such other type of share as may be agreed upon by the competent authorities of the Contracting States.
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) The term disproportionate class of shares means any class of shares of a company resident in one of the Contracting States that entitles the shareholder to disproportionately higher participation, through dividends, redemption payments or otherwise, in the earnings generated in the other State by particular assets or activities of the company;
Canada–United States Tax Convention Act, 1984 — C-10.7 (c)
(c) The term disproportionate interest in a trust means any interest in a trust resident in one of the Contracting States that entitles the interest holder to disproportionately higher participation in, or claim to, the earnings generated in the other State by particular assets or activities of the trust;
Canada–United States Tax Convention Act, 1984 — C-10.7 (d)
(d) The term not-for-profit organization of a Contracting State means an entity created or established in that State and that is, by reason of its not-for-profit status, generally exempt from income taxation in that State, and includes a private foundation, charity, trade union, trade association or similar organization;
Canada–United States Tax Convention Act, 1984 — C-10.7 (e)
(e) The term principal class of shares of a company means the ordinary or common shares of the company, provided that such class of shares represents the majority of the voting power and value of the company. If no single class of ordinary or common shares represents the majority of the aggregate voting power and value of the company, the principal class of shares are those classes that in the aggregate represent a majority of the aggregate voting power and value of the company; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (f)
(f) The term recognized stock exchange means: (i) The NASDAQ System owned by the National Association of Securities Dealers, Inc. and any stock exchange registered with the Securities and Exchange Commission as a national securities exchange for purposes of the Securities Exchange Act of 1934; (ii) Canadian stock exchanges that are “prescribed stock exchanges” or “designated stock exchanges” under the Income Tax Act ; and (iii) Any other stock exchange agreed upon by the Contracting States in an exchange of notes or by the competent authorities of the Contracting States.
Canada–United States Tax Convention Act, 1984 — C-10.7 (ii)
(ii) Canadian stock exchanges that are “prescribed stock exchanges” or “designated stock exchanges” under the Income Tax Act ; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (iii)
(iii) Any other stock exchange agreed upon by the Contracting States in an exchange of notes or by the competent authorities of the Contracting States.
Canada–United States Tax Convention Act, 1984 — C-10.7 6
6 Where a person that is a resident of a Contracting State is not entitled under the preceding provisions of this Article to the benefits provided under this Convention by the other Contracting State, the competent authority of that other State shall, upon that person’s request, determine on the basis of all factors including the history, structure, ownership and operations of that person whether: (a) Its creation and existence did not have as a principal purpose the obtaining of benefits under this Convention that would not otherwise be available; or (b) It would not be appropriate, having regard to the purpose of this Article, to deny the benefits of this Convention to that person. The person shall be granted the benefits of this Convention by that other State where the competent authority determines that subparagraph (a) or (b) applies.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) Its creation and existence did not have as a principal purpose the obtaining of benefits under this Convention that would not otherwise be available; or
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) It would not be appropriate, having regard to the purpose of this Article, to deny the benefits of this Convention to that person.
Canada–United States Tax Convention Act, 1984 — C-10.7
The person shall be granted the benefits of this Convention by that other State where the competent authority determines that subparagraph (a) or (b) applies.
Canada–United States Tax Convention Act, 1984 — C-10.7 7
7 It is understood that this Article shall not be construed as restricting in any manner the right of a Contracting State to deny benefits under this Convention where it can reasonably be concluded that to do otherwise would result in an abuse of the provisions of this Convention.
Canada–United States Tax Convention Act, 1984 — C-10.7 1
1 Paragraph 1 of Article XXIX B (Taxes Imposed by Reason of Death) of the Convention shall be deleted and replaced by the following: 1 Where the property of an individual who is a resident of a Contracting State passes by reason of the individual’s death to an organization that is referred to in paragraph 1 of Article XXI (Exempt Organizations) and that is a resident of the other Contracting State, (a) If the individual is a resident of the United States and the organization is a resident of Canada, the tax consequences in the United States arising out of the passing of the property shall apply as if the organization were a resident of the United States; and (b) If the individual is a resident of Canada and the organization is a resident of the United States, the tax consequences in Canada arising out of the passing of the property shall apply as if the individual had disposed of the property for proceeds equal to an amount elected on behalf of the individual for this purpose (in a manner specified by the competent authority of Canada), which amount shall be no less than the individual’s cost of the property as determined for purposes of Canadian tax and no greater than the fair market value of the property.
Canada–United States Tax Convention Act, 1984 — C-10.7 1
1 Where the property of an individual who is a resident of a Contracting State passes by reason of the individual’s death to an organization that is referred to in paragraph 1 of Article XXI (Exempt Organizations) and that is a resident of the other Contracting State, (a) If the individual is a resident of the United States and the organization is a resident of Canada, the tax consequences in the United States arising out of the passing of the property shall apply as if the organization were a resident of the United States; and (b) If the individual is a resident of Canada and the organization is a resident of the United States, the tax consequences in Canada arising out of the passing of the property shall apply as if the individual had disposed of the property for proceeds equal to an amount elected on behalf of the individual for this purpose (in a manner specified by the competent authority of Canada), which amount shall be no less than the individual’s cost of the property as determined for purposes of Canadian tax and no greater than the fair market value of the property.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) If the individual is a resident of the United States and the organization is a resident of Canada, the tax consequences in the United States arising out of the passing of the property shall apply as if the organization were a resident of the United States; and
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) If the individual is a resident of Canada and the organization is a resident of the United States, the tax consequences in Canada arising out of the passing of the property shall apply as if the individual had disposed of the property for proceeds equal to an amount elected on behalf of the individual for this purpose (in a manner specified by the competent authority of Canada), which amount shall be no less than the individual’s cost of the property as determined for purposes of Canadian tax and no greater than the fair market value of the property.
Canada–United States Tax Convention Act, 1984 — C-10.7 2
2 Paragraph 5 of Article XXIX B (Taxes Imposed by Reason of Death) of the Convention shall be deleted and replaced by the following: 5 Where an individual was a resident of the United States immediately before the individual’s death, for the purposes of subsections 70 (5.2) and (6) of the Income Tax Act , both the individual and the individual’s spouse shall be deemed to have been resident in Canada immediately before the individual’s death. Where a trust that would be a trust described in subsection 70(6) of that Act, if its trustees that were residents or citizens of the United States or domestic corporations under the law of the United States were residents of Canada, requests the competent authority of Canada to do so, the competent authority may agree, subject to terms and conditions satisfactory to such competent authority, to treat the trust for the purposes of that Act as being resident in Canada for such time and with respect to such property as may be stipulated in the agreement.
Canada–United States Tax Convention Act, 1984 — C-10.7 5
5 Where an individual was a resident of the United States immediately before the individual’s death, for the purposes of subsections 70 (5.2) and (6) of the Income Tax Act , both the individual and the individual’s spouse shall be deemed to have been resident in Canada immediately before the individual’s death. Where a trust that would be a trust described in subsection 70(6) of that Act, if its trustees that were residents or citizens of the United States or domestic corporations under the law of the United States were residents of Canada, requests the competent authority of Canada to do so, the competent authority may agree, subject to terms and conditions satisfactory to such competent authority, to treat the trust for the purposes of that Act as being resident in Canada for such time and with respect to such property as may be stipulated in the agreement.
Canada–United States Tax Convention Act, 1984 — C-10.7 1
1 This Protocol shall be subject to ratification in accordance with the applicable procedures in the United States and Canada. The Contracting States shall notify each other in writing, through diplomatic channels, when their respective applicable procedures have been satisfied.
Canada–United States Tax Convention Act, 1984 — C-10.7 2
2 This Protocol shall enter into force on the date of the later of the notifications referred to in paragraph 1, or January 1, 2008, whichever is later. The provisions of this Protocol shall have effect: (a) In respect of taxes withheld at source, for amounts paid or credited on or after the first day of the second month that begins after the date on which this Protocol enters into force; (b) In respect of other taxes, for taxable years that begin after (or, if the later of the notifications referred to in paragraph 1 is dated in 2007, taxable years that begin in and after) the calendar year in which this Protocol enters into force.
Canada–United States Tax Convention Act, 1984 — C-10.7 (a)
(a) In respect of taxes withheld at source, for amounts paid or credited on or after the first day of the second month that begins after the date on which this Protocol enters into force;
Canada–United States Tax Convention Act, 1984 — C-10.7 (b)
(b) In respect of other taxes, for taxable years that begin after (or, if the later of the notifications referred to in paragraph 1 is dated in 2007, taxable years that begin in and after) the calendar year in which this Protocol enters into force.