GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 (a)
exempt loan or transfer means (a) a loan made by a corporation resident in Canada where the interest rate charged on the loan is not less than the interest rate that a lender and a borrower would have been willing to agree to if they were dealing at arm’s length with each other at the time the loan was made; (b) a transfer of property (other than a transfer of property made for the purpose of acquiring shares of the capital stock of a foreign affiliate of a corporation or a foreign affiliate of a person resident in Canada with whom the corporation was not dealing at arm’s length) or payment of an amount owing by a corporation resident in Canada pursuant to an agreement made on terms and conditions that persons who were dealing at arm’s length at the time the agreement was entered into would have been willing to agree to; (c) a dividend paid by a corporation resident in Canada on shares of a class of its capital stock; and (d) a payment made by a corporation resident in Canada on a reduction of the paid-up capital in respect of shares of a class of its capital stock (not exceeding the total amount of the reduction). ( prêt ou transfert de biens exclu )
Income Tax Act — I-3.3
non-discretionary trust , at any time, means a trust in which all interests were vested indefeasibly at the beginning of the trust’s taxation year that includes that time. ( fiducie non discrétionnaire )
Income Tax Act — I-3.3 (a)
settlor in respect of a trust at any time means any person or partnership that has made a loan or transfer of property, either directly or indirectly, in any manner whatever, to or for the benefit of the trust at or before that time, other than, where the person or partnership deals at arm’s length with the trust at that time, (a) a loan made by the person or partnership to the trust at a reasonable rate of interest; or (b) a transfer made by the person or partnership to the trust for fair market value consideration. ( auteur )
Income Tax Act — I-3.3 18
in which the disposition referred to in paragraph (22)(b) occurs that are after the end of the particular taxation year; and C is the total number of days in the taxation year of the connected person in which the disposition referred to in paragraph (22)(b) occurs. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 18; 1994, c. 7, Sch. II, s. 13, Sch. VIII, s. 8, c. 21, s. 11; 1995, c. 3, s. 6, c. 21, ss. 5 and 48; 1996, c. 21. s. 5; 1997, c. 25, s. 4; 1998, c. 19, ss. 3 and 79; 2001, c. 17, ss. 9, 201; 2003, c. 28, s. 2; 2006, c. 4, s. 161; 2007, c. 35, ss. 11, 102; 2008, c. 28, s. 2; 2010, c. 25, s. 5; 2011, c. 24, s. 2; 2012, c. 31, s. 7; 2013, c. 33, s. 2, c. 34, ss. 56, 95, 178, 427, c. 40, s. 8; 2014, c. 39, s. 6; 2016, c. 12, s. 6; 2017, c. 20, s. 3, c. 33, s. 5; 2018, c. 27, s. 3 2022, c. 5, s. 27 2022, c. 10, s. 158 2022, c. 10, s. 173 2022, c. 19, s. 3 2024, c. 15, s. 6 2024, c. 15, s. 114 2024, c. 17, s. 98 2024, c. 17, s. 111 2026, c. 3, s. 144
Income Tax Act — I-3.3 (a)
interest on debt relating to the acquisition of land includes (a) interest paid or payable in a year in respect of borrowed money that cannot be identified with particular land but that may nonetheless reasonably be considered (having regard to all the circumstances) as interest on borrowed money used in respect of or for the acquisition of land, and (b) interest paid or payable in the year by a taxpayer in respect of borrowed money that may reasonably be considered (having regard to all the circumstances) to have been used to assist, directly or indirectly, (i) another person with whom the taxpayer does not deal at arm’s length, (ii) a corporation of which the taxpayer is a specified shareholder, or (iii) a partnership of which the taxpayer’s share of any income or loss is 10% or more, to acquire land to be used or held by that person, corporation or partnership otherwise than as described in paragraph 18(2)(c) or 18(2)(d), except where the assistance is in the form of a loan to that person, corporation or partnership and a reasonable rate of interest on the loan is charged by the taxpayer; ( intérêts sur une dette concernant l’acquisition d’un fonds de terre )
Income Tax Act — I-3.3 (a)
land does not, except to the extent that it is used for the provision of parking facilities for a fee or charge, include (a) any property that is a building or other structure affixed to land, (b) the land subjacent to any property described in paragraph (a), or (c) such land immediately contiguous to the land described in paragraph (b) that is a parking area, driveway, yard, garden or similar land as is necessary for the use of any property described in paragraph (a). ( fonds de terre )
Income Tax Act — I-3.3
beneficiary has the same meaning as in subsection 108(1); ( bénéficiaire )
Income Tax Act — I-3.3 (a)
equity contribution , to a trust, means a transfer of property to the trust that is made (a) in exchange for an interest as a beneficiary under the trust, (b) in exchange for a right to acquire an interest as a beneficiary under the trust, or (c) for no consideration by a person beneficially interested in the trust; ( apport de capitaux propres )
Income Tax Act — I-3.3 (a)
outstanding debts to specified non-residents , of a corporation or trust at any particular time in a taxation year, means (a) the total of all amounts each of which is an amount outstanding at that time as or on account of a debt or other obligation to pay an amount (i) that was payable by the corporation or trust to a person who was, at any time in the year, (A) a specified non-resident shareholder of the corporation or a specified non-resident beneficiary of the trust, or (B) a non-resident person who was not dealing at arm’s length with a specified shareholder of the corporation or a specified beneficiary of the trust, as the case may be, and (ii) on which any amount in respect of interest paid or payable by the corporation or trust is or would be, but for subsection (4), deductible in computing the income of the corporation or trust for the year, but does not include (b) an amount outstanding at the particular time as or on account of a debt or other obligation (i) to pay an amount to (A) a non-resident insurance corporation to the extent that the obligation was, for the non-resident insurance corporation’s taxation year that included the particular time, designated insurance property in respect of an insurance business carried on in Canada through a permanent establishment as defined by regulation, or (B) an authorized foreign bank, if the bank uses or holds the obligation at the particular time in its Canadian banking business, or (ii) that is a debt obligation described in subparagraph (ii) of the description of A in paragraph 17.1(1)(b) to the extent that the proceeds of the debt obligation can reasonably be considered to directly or indirectly fund at the particular time, in whole or in part, a pertinent loan or indebtedness (as defined in subsection 212.3(11)) owing to the corporation or another corporation resident in Canada that does not, at the particular time, deal at arm’s length with the corporation; ( dettes impayées envers des non-résidents déterminés )
Income Tax Act — I-3.3
security interest , in respect of a property, means an interest in, or for civil law a right in, the property that secures payment of an obligation; ( garantie )
Income Tax Act — I-3.3 (a)
specified beneficiary , of a trust at any time, means a person who at that time, either alone or together with persons with whom that person does not deal at arm’s length, has an interest as a beneficiary under the trust with a fair market value that is not less than 25% of the fair market value of all interests as a beneficiary under the trust and for the purpose of determining whether a particular person is a specified beneficiary of a trust, (a) if the particular person, or a person with whom the particular person does not deal at arm’s length, has at that time a right under a contract, in equity or otherwise, either immediately or in the future and either absolutely or contingently, to, or to acquire, an interest as a beneficiary under a trust, the particular person or the person with whom the particular person does not deal at arm’s length, as the case may be, is deemed at that time to own the interest, (b) if the particular person, or a person with whom the particular person does not deal at arm’s length, has at that time a right under a contract, in equity or otherwise, either immediately or in the future and either absolutely or contingently to cause a trust to redeem, acquire or terminate any interest in it as a beneficiary (other than an interest held by the particular person or a person with whom the particular person does not deal at arm’s length), the trust is deemed at that time to have redeemed, acquired or terminated the interest, unless the right is not exercisable at that time because the exercise of the right is contingent on the death, bankruptcy or permanent disability of an individual, and (c) if the amount of income or capital of the trust that the particular person, or a person with whom the particular person does not deal at arm’s length, may receive as a beneficiary of the trust depends on the exercise by any person of, or the failure by any person to exercise, a discretionary power, that person is deemed to have fully exercised, or to have failed to exercise, the power, as the case may be; ( bénéficiaire déterminé )
Income Tax Act — I-3.3
specified non-resident beneficiary , of a trust at any time, means a specified beneficiary of the trust who at that time is a non-resident person; ( bénéficiaire non-résident déterminé )
Income Tax Act — I-3.3
specified non-resident shareholder of a corporation at any time means a specified shareholder of the corporation who was at that time a non-resident person or a non-resident-owned investment corporation; ( actionnaire non-résident déterminé )
Income Tax Act — I-3.3
specified proportion [Repealed, 2013, c. 34, s. 427]
Income Tax Act — I-3.3
specified right , at any time in respect of a property, means a right to, at that time, mortgage, hypothecate, assign, pledge or in any way encumber the property to secure payment of an obligation — other than the particular debt or other obligation described in paragraph (6)(a) or a debt or other obligation described in subparagraph (6)(d)(ii) — or to use, invest, sell or otherwise dispose of, or in any way alienate, the property unless it is established by the taxpayer that all of the proceeds (net of costs, if any) received, or that would be received, from exercising the right must first be applied to reduce an amount described in subparagraph (6)(d)(i) or (ii); ( droit déterminé )
Income Tax Act — I-3.3 (a)
specified shareholder of a corporation at any time means a person who at that time, either alone or together with persons with whom that person is not dealing at arm’s length, owns (a) shares of the capital stock of the corporation that give the holders thereof 25% or more of the votes that could be cast at an annual meeting of the shareholders of the corporation, or (b) shares of the capital stock of the corporation having a fair market value of 25% or more of the fair market value of all of the issued and outstanding shares of the capital stock of the corporation, and for the purpose of determining whether a particular person is a specified shareholder of a corporation at any time, where the particular person or a person with whom the particular person is not dealing at arm’s length has at that time a right under a contract, in equity or otherwise, either immediately or in the future and either absolutely or contingently (c) to, or to acquire, shares in a corporation or to control the voting rights of shares in a corporation, or (d) to cause a corporation to redeem, acquire or cancel any of its shares (other than shares held by the particular person or a person with whom the particular person is not dealing at arm’s length), the particular person or the person with whom the particular person is not dealing at arm’s length, as the case may be, shall be deemed at that time to own the shares referred to in paragraph (c) and the corporation referred to in paragraph (d) shall be deemed at that time to have redeemed, acquired or cancelled the shares referred to in paragraph (d), unless the right is not exercisable at that time because the exercise thereof is contingent on the death, bankruptcy or permanent disability of an individual; ( actionnaire déterminé )
Income Tax Act — I-3.3
tax-paid earnings , of a trust resident in Canada for a taxation year, means the total of all amounts each of which is the amount in respect of a particular taxation year of the trust that ended before the year determined by the formula A – B where A is the taxable income of the trust under this Part for the particular year, and B is the total of tax payable under this Part by the trust, and all income taxes payable by the trust under the laws of a province, for the particular year. ( bénéfices libérés d’impôt )
Income Tax Act — I-3.3 (a)
offsetting position , in respect of a particular position of a person or partnership (in this definition referred to as the “holder”), means one or more positions that (a) are held by (i) the holder, (ii) a person or partnership that does not deal at arm’s length with, or is affiliated with, the holder (in this subsection and subsections (20), (22) and (23) referred to as the “connected person”), or (iii) for greater certainty, by any combination of the holder and one or more connected persons; (b) have the effect, or would have the effect if each of the positions held by a connected person were held by the holder, of eliminating all or substantially all of the holder’s risk of loss and opportunity for gain or profit in respect of the particular position; and (c) if held by a connected person, can reasonably be considered to have been held with the purpose of obtaining the effect described in paragraph (b). ( position compensatoire )
Income Tax Act — I-3.3 (a)
position , of a person or partnership, means one or more properties, obligations or liabilities of the person or partnership, if (a) each property, obligation or liability is (i) a share in the capital stock of a corporation, (ii) an interest in a partnership, (iii) an interest in a trust, (iv) a commodity, (v) foreign currency, (vi) a swap agreement, a forward purchase or sale agreement, a forward rate agreement, a futures agreement, an option agreement or a similar agreement, (vii) a debt owed to or owing by the person or partnership that, at any time, (A) is denominated in a foreign currency, (B) would be described in paragraph 7000(1)(d) of the Income Tax Regulations if that paragraph were read without reference to the words “other than one described in paragraph (a), (b) or (c)”, or (C) is convertible into or exchangeable for an interest, or for civil law a right, in any property that is described in any of subparagraphs (i) to (iv), (viii) an obligation to transfer or return to another person or partnership a property identical to a particular property described in any of subparagraphs (i) to (vii) that was previously transferred or lent to the person or partnership by that other person or partnership, or (ix) an interest, or for civil law a right, in any property that is described in any of subparagraphs (i) to (vii); and (b) it is reasonable to conclude that, if there is more than one property, obligation or liability, each of them is held in connection with each other. ( position )
Income Tax Act — I-3.3 (a)
successor position , in respect of a position (in this definition referred to as the “initial position”), means a particular position if (a) the particular position is an offsetting position in respect of a second position; (b) the second position was an offsetting position in respect of the initial position that was disposed of at a particular time; and (c) the particular position was entered into during the period that begins 30 days before, and ends 30 days after, the particular time. ( position remplaçante )
Income Tax Act — I-3.3
unrecognized loss , in respect of a position of a person or partnership at a particular time in a taxation year, means the loss, if any, that would be deductible in computing the income of the person or partnership for the year with respect to the position if it were disposed of immediately before the particular time at its fair market value at the time of disposition. ( perte non constatée )
Income Tax Act — I-3.3
unrecognized profit , in respect of a position of a person or partnership at a particular time in a taxation year, means the profit, if any, that would be included in computing the income of the person or partnership for the year with respect to the position if it were disposed of immediately before the particular time at its fair market value at the time of disposition. ( bénéfice non constaté )
Income Tax Act — I-3.3 18.1
 computing the taxpayer’s income for the year (other than any portion of any of those amounts that is the subject of a reserve claimed by the taxpayer for the year under this Act) in respect of the right to receive production that relates to the matchable expenditure exceeds 80% of the matchable expenditure; and (b) no portion of the matchable expenditure can reasonably be considered to have been paid to another taxpayer, or to a person or partnership with whom the other taxpayer does not deal at arm’s length, to acquire the right from the other taxpayer. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1998, c. 19, s. 80; 2001, c. 17, ss. 10, 202(E); 2013, c. 34, ss. 96(F), 179, c. 40, s. 9
Income Tax Act — I-3.3 (a)
matchable expenditure of a taxpayer means the amount of an expenditure that is made by the taxpayer to (a) acquire a right to receive production, (b) fulfil a covenant or obligation arising in circumstances in which it is reasonable to conclude that a relationship exists between the covenant or obligation and a right to receive production, or (c) preserve or protect a right to receive production, but does not include an amount for which a deduction is provided under section 20 in computing the taxpayer’s income. ( dépense à rattacher )
Income Tax Act — I-3.3
right to receive production means a right under which a taxpayer is entitled, either immediately or in the future and either absolutely or contingently, to receive an amount all or a portion of which is computed by reference to use of property, production, revenue, profit, cash flow, commodity price, cost or value of property or any other similar criterion or by reference to dividends paid or payable to shareholders of any class of shares where the amount is in respect of another taxpayer’s activity, property or business but such a right does not include an income interest in a trust, a Canadian resource property or a foreign resource property. ( droit aux produits )
Income Tax Act — I-3.3
tax benefit means a reduction, avoidance or deferral of tax or other amount payable under this Act or an increase in a refund of tax or other amount under this Act. ( avantage fiscal )
Income Tax Act — I-3.3 (a)
tax shelter means a property that would be a tax shelter (as defined in subsection 237.1(1)) if (a) the cost of a right to receive production were the total of all amounts each of which is a matchable expenditure to which the right relates; and (b) subsections 18.1(2) to 18.1(13) did not apply for the purpose of computing an amount, or in the case of a partnership a loss, represented to be deductible. ( abri fiscal )
Income Tax Act — I-3.3
taxpayer includes a partnership. ( contribuable )
Income Tax Act — I-3.3 (a)
absorbed capacity of a taxpayer for a taxation year means the lesser of (a) the taxpayer’s cumulative unused excess capacity for the year, determined as if the taxpayer’s absorbed capacity for the year were nil, and (b) the amount determined by the formula A − (B + C) where A is the taxpayer’s interest and financing expenses for the year, B is (i) if subsection 18.21(2) applies in respect of the taxpayer for the year, the amount determined in respect of the taxpayer for the year under that subsection, and (ii) in any other case, the amount determined by the formula D × E where D is the taxpayer’s ratio of permissible expenses for the year, and E is the taxpayer’s adjusted taxable income for the year, and C is the taxpayer’s interest and financing revenues for the year. ( capacité absorbée )
Income Tax Act — I-3.3
affiliate taxation year of a controlled foreign affiliate means the period for which the accounts of the affiliate have been ordinarily made up, but no such period may exceed 53 weeks. ( année d’imposition de la société affiliée )
Income Tax Act — I-3.3 (a)
cumulative unused excess capacity of a taxpayer for a particular taxation year means the total of all amounts each of which is (a) the excess capacity of the taxpayer for the particular year, or (b) the excess capacity of the taxpayer for any of the three immediately preceding taxation years, if the taxpayer’s excess capacity for each of those years is determined according to the following rules: (i) if the taxpayer has an amount of transferred capacity for any taxation year (referred to in this definition as the “transfer year”) preceding the particular year, (A) there are to be reductions to the taxpayer’s excess capacity for the transfer year and the three taxation years immediately preceding the transfer year (each referred to in this subparagraph as a “relevant year”) in a total amount equal to the total of all amounts each of which is an amount of transferred capacity of the taxpayer for the transfer year (referred to in this definition as the “total transferred capacity amount”), and (B) the amount by which the taxpayer’s excess capacity for a particular relevant year is to be reduced is equal to the lesser of (I) the taxpayer’s excess capacity for the particular relevant year, determined taking into consideration any reductions to that excess capacity under 1 this subparagraph, in respect of amounts of transferred capacity for years preceding the transfer year, and 2 subparagraph (ii), in respect of amounts of absorbed capacity for the transfer year and any years preceding the transfer year, and (II) the amount, if any, by which the total transferred capacity amount for the transfer year exceeds the reductions, under this subparagraph in respect of that total transferred capacity amount, to the taxpayer’s excess capacity for any relevant years preceding the particular relevant year, and (ii) if the taxpayer has an amount of absorbed capacity for a taxation year (referred to in this definition as the “absorbed capacity year”), (A) there are to be reductions to the taxpayer’s excess capacity for the three taxation years immediately preceding the absorbed capacity year (each referred to in this subparagraph as a “relevant year”) in a total amount equal to the amount of absorbed capacity for the absorbed capacity year, and (B) the amount by which the taxpayer’s excess capacity for a particular relevant year is to be reduced is equal to the lesser of (I) the taxpayer’s excess capacity for the particular relevant year, determined taking into account any reductions to that excess capacity under 1 subparagraph (i), in respect of amounts of transferred capacity for years preceding the absorbed capacity year, and 2 this subparagraph, in respect of amounts of absorbed capacity for years preceding the absorbed capacity year, and (II) the amount, if any, by which the amount of absorbed capacity for the absorbed capacity year exceeds the reductions under this subparagraph in respect of that amount of absorbed capacity to the taxpayer’s excess capacity for the relevant years preceding the particular relevant year. ( capacité excédentaire cumulative inutilisée )