GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Act — I-3.3 118.7
Credit for EI and QPIP premiums and CPP contributions 118.7 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 year; and B is the total of (a) the total of all amounts each of which is an amount payable by the individual as an employee’s premium or a self-employment premium for the year under the Employment Insurance Act , not exceeding the maximum amount of such premiums payable by the individual for the year under that Act, (a.1) the total of all amounts each of which is an amount payable by the individual as an employee’s premium for the year under the Act respecting parental insurance , R.S.Q., c. A-29.011, not exceeding the maximum amount of such premiums payable by the individual for the year under that Act, (a.2) the amount, if any, by which the total of all amounts each of which is an amount payable by the individual in respect of self-employed earnings for the year as a premium under the Act respecting parental insurance , R.S.Q., c. A-29.011, (not exceeding the maximum amount of such premiums payable by the individual for the year under that Act) exceeds the amount deductible under paragraph 60(g) in computing the individual’s income for the year, (b) the total of all amounts each of which is an amount payable by the individual for the year as an employee’s contribution under subsection 8(1) of the Canada Pension Plan or as a like contribution under a provincial pension plan , as defined in section 3 of that Act, not exceeding the maximum amount of such contributions payable by the individual for the year under the plan, and (c) the amount by which (i) the total of all amounts each of which is an amount payable by the individual in respect of self-employed earnings for the year as a contribution under the Canada Pension Plan or under a provincial pension plan within the meaning assigned by section 3 of that Act (not exceeding the maximum amount of such contributions payable by the individual for the year under the plan) exceeds (ii) the amount deductible under paragraph 60(e) in computing the individual’s income for 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. 118.7; 1996, c. 23, par. 187(d); 2001, c. 17, s. 100; 2013, c. 34, s. 253; 2016, c. 14, s. 68
Income Tax Act — I-3.3 118.8
Transfer of unused credits to spouse or common-law partner 118.8 For the purpose of computing the tax payable under this Part for a taxation year by an individual who, at any time in the year, is a married person or a person who is in a common-law partnership (other than an individual who, by reason of a breakdown of their marriage or common-law partnership, is living separate and apart from the individual’s spouse or common-law partner at the end of the year and for a period of 90 days commencing in the year), there may be deducted an amount determined by the formula A + B - C where A is the tuition tax credit transferred for the year by the spouse or common-law partner to the individual; B is the total of all amounts each of which is deductible under subsection 118(1), because of paragraph (b.1) of the description of B in that subsection, or subsection 118(2) or (3) or 118.3(1) in computing the spouse’s or common-law partner’s tax payable under this Part for the year; and C is the amount, if any, by which (a) the amount that would be the spouse’s or common-law partner’s tax payable under this Part for the year if no amount were deductible under this Division (other than an amount deductible under subsection 118(1) because of paragraph (c) of the description of B in that subsection, under subsection 118(10) or under any of sections 118.01 to 118.07, 118.3, 118.61 and 118.7) exceeds (b) the lesser of (i) the total of all amounts that may be deducted under section 118.5 in computing the spouse’s or common-law partner’s tax payable under this Part for the year, and (ii) the amount that would be the spouse’s or common-law partner’s tax payable under this Part for the year if no amount were deductible under this Division (other than an amount deductible under any of sections 118 to 118.07, 118.3, 118.61 and 118.7). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 118.8; 1994, c. 7, Sch. VIII, s. 58; 1997, c. 25, s. 29; 1998, c. 19, s. 29; 1999, c. 22, s. 39; 2000, c. 12, ss. 133, 142, c. 19, s. 26; 2007, c. 2, s. 25, c. 29, s. 10; 2009, c. 31, s. 7; 2011, c. 24, s. 32; 2014, c. 20, s. 13; 2016, c. 7, s. 18
Income Tax Act — I-3.3 118.81
Tuition tax credit transferred 118.81 In this Subdivision, the tuition tax credit transferred for a taxation year by a person to an individual is the lesser of (a) the amount determined by the formula A - B where A is the lesser of (i) the total of all amounts that may be deducted under section 118.5 in computing the person’s tax payable under this Part for the year, and (ii) the amount determined by the formula C × D where C is the appropriate percentage for the taxation year, and D is $5,000. B is the amount that would be the person’s tax payable under this Part for the year if no amount were deductible under this Division (other than an amount deductible under any of sections 118 to 118.07, 118.3, 118.61 and 118.7), and (b) the amount for the year that the person designates in writing for the purpose of section 118.8 or 118.9. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1998, c. 19, s. 30; 2001, c. 17, s. 101; 2006, c. 4, s. 66; 2007, c. 2, s. 26; 2009, c. 31, s. 8; 2011, c. 24, s. 33; 2014, c. 20, s. 14; 2016, c. 7, s. 19
Income Tax Act — I-3.3 118.9
Transfer to parent or grandparent 118.9 If for a taxation year a parent or grandparent of an individual (other than an individual in respect of whom the individual’s spouse or common-law partner deducts an amount under section 118 or 118.8 for the year) is the only person designated in writing by the individual for the year for the purpose of this section, there may be deducted in computing the tax payable under this Part for the year by the parent or grandparent, as the case may be, the tuition tax credit transferred for the year by the individual to the parent or grandparent, as the case may be. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 118.9; 1994, c. 7, Sch. II, s. 94, Sch. VIII, s. 59; 1997, c. 25, s. 30; 1998, c. 19, s. 30; 2000, c. 12, s. 142; 2007, c. 2, s. 27; 2016, c. 7, s. 20
Income Tax Act — I-3.3 118.91
Part-year residents 118.91 Notwithstanding sections 118 to 118.9, where an individual is resident in Canada throughout part of a taxation year and throughout another part of the year is non-resident, for the purpose of computing the individual’s tax payable under this Part for the year, (a) the amount deductible for the year under each such provision in respect of the part of the year that is not included in the period or periods referred to in paragraph 118.91(b) shall be computed as though such part were the whole taxation year; and (b) the individual shall be allowed only (i) such of the deductions permitted under subsections 118(3) and (10) and sections 118.01 to 118.2, 118.5, 118.62 and 118.7 as can reasonably be considered wholly applicable to the period or periods in the year throughout which the individual is resident in Canada, computed as though that period or those periods were the whole taxation year, and (ii) such part of the deductions permitted under sections 118 (other than subsections 118(3) and (10)), 118.3, 118.8 and 118.9 as can reasonably be considered applicable to the period or periods in the year throughout which the individual is resident in Canada, computed as though that period or those periods were the whole taxation year, except that the amount deductible for the year by the individual under each such provision shall not exceed the amount that would have been deductible under that provision had the individual been resident in Canada throughout 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. 118.91; 1994, c. 7, Sch. II, s. 95, c. 21, s. 55; 1999, c. 22, s. 40; 2006, c. 4, s. 67; 2007, c. 2, s. 28; 2009, c. 31, s. 9; 2016, c. 7, s. 21
Income Tax Act — I-3.3 118.92
Ordering of credits 118.92 In computing an individual’s tax payable under this Part, the following provisions shall be applied in the following order: subsections 118(1) and (2), section 118.7, subsections 118(3) and (10) and sections 118.01, 118.02, 118.04, 118.041, 118.05, 118.06, 118.07, 118.3, 118.61, 118.5, 118.9, 118.8, 118.2, 118.1, 118.62 and 121. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 118.92; 1998, c. 19, s. 31; 1999, c. 22, s. 41; 2006, c. 4, s. 68; 2007, c. 2, s. 29; 2009, c. 31, s. 10; 2011, c. 24, s. 34; 2014, c. 20, s. 15, c. 39, s. 36; 2015, c. 36, ss. 9, 31; 2016, c. 7, s. 22; 2017, c. 20, s. 20 2019, c. 29, s. 19
Income Tax Act — I-3.3 118.93
Credits in separate returns 118.93 If 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 tax payable under this Part by the taxpayer in those returns, the total of all deductions claimed in all those returns under any of subsections 118(3) and (10) and sections 118.01 to 118.7 and 118.9 shall not exceed the total that could be deducted under those provisions for the year with respect to the taxpayer if no separate returns were filed under any of subsections 70(2), 104(23) and 150(4). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 118.93; 2006, c. 4, s. 68; 2007, c. 2, s. 29
Income Tax Act — I-3.3 118.94
Tax payable by non-residents (credits restricted) 118.94 Sections 118 to 118.07 and 118.2, subsections 118.3(2) and (3) and sections 118.8 and 118.9 do not apply for the purpose of computing the tax payable under this Part for a taxation year by an individual who at no time in the year is resident in Canada unless all or substantially all the individual’s income for the year is included in computing the individual’s taxable income earned in Canada for 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. 118.94; 1994, c. 7, Sch. II, s. 96; 2006, c. 4, s. 68; 2007, c. 2, s. 29; 2009, c. 31, s. 11; 2011, c. 24, s. 35; 2014, c. 20, s. 16; 2016, c. 7, s. 23
Income Tax Act — I-3.3 118.95
Credits in year of bankruptcy 118.95 Notwithstanding sections 118 to 118.9, for the purpose of computing an individual’s tax payable under this Part for a taxation year that ends in a calendar year in which the individual becomes bankrupt, the individual shall be allowed only (a) such of the deductions as the individual is entitled to under any of subsections 118(3) and (10) and sections 118.01 to 118.2, 118.5, 118.62 and 118.7, as can reasonably be considered wholly applicable to the taxation year, and (b) such part of the deductions as the individual is entitled to under any of sections 118 (other than subsections 118(3) and (10)), 118.3, 118.8 and 118.9 as can reasonably be considered applicable to the taxation year, except that the total of the amounts so deductible for all taxation years of the individual in the calendar year under any of those provisions shall not exceed the amount that would have been deductible under that provision in respect of the calendar year if the individual had not become bankrupt. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1998, c. 19, s. 136; 1999, c. 22, s. 42; 2006, c. 4, s. 69; 2007, c. 2, s. 30; 2009, c. 31, s. 12; 2016, c. 7, s. 24
Income Tax Act — I-3.3 119
Former resident — credit for tax paid 119 If at any particular time an individual was deemed by subsection 128.1(4) to have disposed of a capital property that was a taxable Canadian property of the individual throughout the period that began at the particular time and that ends at the first time, after the particular time, at which the individual disposes of the property, there may be deducted in computing the individual’s tax payable under this Part for the taxation year that includes the particular time the lesser of (a) that proportion of the individual’s tax for the year otherwise payable under this Part (within the meaning assigned by paragraph (a) of the definition tax for the year otherwise payable under this Part in subsection 126(7)) that (i) the individual’s taxable capital gain from the disposition of the property at the particular time is of (ii) the amount determined under paragraph 114(a) in respect of the individual for the year, and (b) that proportion of the individual’s tax payable under Part XIII in respect of dividends received during the period by the individual in respect of the property and amounts deemed under Part XIII to have been paid during the period to the individual as dividends from corporations resident in Canada, to the extent that the amounts can reasonably be considered to relate to the property, that (i) the amount by which the individual’s loss from the disposition of the property at the end of the period is reduced by subsection 40(3.7) is of (ii) the total amount of those dividends. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 119; 2001, c. 17, s. 102
Income Tax Act — I-3.3 119.1
119.1 [Repealed, 2016, c. 7, s. 25] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2015, c. 36, s. 32; 2016, c. 7, s. 25
Income Tax Act — I-3.3 120
mpôt payable par ailleurs en vertu de la présente partie ) [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 120; 1999, c. 22, s. 43; 2000, c. 19, s. 27; 2001, c. 17, s. 103; 2007, c. 29, s. 11, c. 35, s. 40; 2016, c. 11, s. 3
Income Tax Act — I-3.3
income earned in the year in a province means amounts determined under rules prescribed for the purpose of regulations made on the recommendation of the Minister of Finance; ( revenu gagné au cours de l’année dans une province )
Income Tax Act — I-3.3 (a)
tax otherwise payable under this Part by an individual for a taxation year means the total of (a) the greater of (i) the individual”s minimum amount for the year determined under section 127.51, and (ii) the amount that, but for this section, would be the individual’s tax payable under this Part for the year if this Part were read without reference to (A) subsection 117(2.1), section 119, subsection 120.4(2) and sections 126, 127, 127.4 and 127.41, and (B) where the individual is a specified individual in relation to the year, section 121 in its application to dividends included in computing the individual’s split income for the year, and (b) where the individual is a specified individual in relation to the year, the amount, if any, by which (i) the highest individual percentage for the year multiplied by the individual’s split income for the year exceeds (ii) the total of all amounts each of which is an amount that may be deducted under section 121 and that can reasonably be considered to be in respect of a dividend included in computing the individual’s split income for the year. ( impôt qu’il est par ailleurs tenu de payer en vertu de la présente partie ou impôt payable par ailleurs en vertu de la présente partie )
Income Tax Act — I-3.3 120.1
120.1 [Repealed, 2000, c. 19, s. 28] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 120.1; 1994, c. 7, Sch. II, s. 97; 2000, c. 19, s. 28
Income Tax Act — I-3.3 120.2
Minimum tax carry-over 120.2 (1) There may be deducted from the amount that, but for this section, section 120 and subsection 120.4(2), would be an individual’s tax payable under this Part for a particular taxation year such amount as the individual claims not exceeding the lesser of (a) the portion of the total of the individual’s additional taxes determined under subsection 120.2(3) for the 7 taxation years immediately preceding the particular year that was not deducted in computing the individual’s tax payable under this Part for a taxation year preceding the particular year, and (b) the amount, if any, by which (i) the amount that, but for this section, section 120 and subsection 120.4(2), would be the individual’s tax payable under this Part for the particular year if the individual were not entitled to any deduction under section 126 exceeds (ii) the individual’s minimum amount for the particular year determined under section 127.51. Additional tax determined (3) For the purposes of subsection 120.2(1), additional tax of an individual for a taxation year is the amount, if any, by which (a) the individual’s minimum amount for the year determined under section 127.51 exceeds the total of (b) the amount that, if this Act were read without reference to section 120, would be the individual’s tax payable under this Part for the year if the individual were not entitled to any deduction under section 126, and (c) that proportion of the amount, if any, by which (i) the individual’s special foreign tax credit for the year determined under section 127.54 exceeds (ii) the total of all amounts deductible under section 126 from the individual’s tax for the year that (iii) the amount of the individual’s foreign taxes for the year within the meaning assigned by subsection 127.54(1) is of (iv) the amount that would be the individual’s foreign taxes for the year within the meaning assigned by subsection 127.54(1) if the definition foreign taxes in that subsection were read without reference to “2/3 of”. Where subsection (1) does not apply (4) Subsection (1) does not apply in respect of an individual’s return of income filed under subsection 70(2), paragraph 104(23)(d) or 128(2)(f) or subsection 150(4). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 120.2; 1998, c. 19, s. 137; 2000, c. 19, s. 29; 2001, c. 17, s. 104; 2013, c. 34, s. 254 2024, c. 17, s. 29
Income Tax Act — I-3.3 120.3
CPP/QPP disability benefits for previous years 120.3 There shall be added in computing an individual’s tax payable under this Part for a particular taxation year the total of all amounts each of which is the amount, if any, by which (a) the amount that would have been the tax payable under this Part by the individual for a preceding taxation year if that portion of any amount not included in computing the individual’s income for the particular year because of subsection 56(8) and that relates to the preceding year had been included in computing the individual’s income for the preceding year exceeds (b) the tax payable under this Part by the individual for the preceding year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 1994, c. 7, Sch. II, s. 98
Income Tax Act — I-3.3 120.31
Definitions 120.31 (1) The definitions in subsection 110.2(1) apply in this section. Addition to tax payable (2) There shall be added in computing an individual’s tax payable under this Part for a particular taxation year the total of all amounts each of which is the amount, if any, by which (a) the individual’s notional tax payable for an eligible taxation year to which a specified portion of a qualifying amount received by the individual relates and in respect of which an amount is deducted under section 110.2 in computing the individual’s taxable income for the particular year exceeds (b) the individual’s tax payable under this Part for the eligible taxation year. Notional tax payable (3) For the purpose of subsection (2), an individual’s notional tax payable for an eligible taxation year, calculated for the purpose of computing the individual’s tax payable under this Part for a taxation year (in this subsection referred to as “the year of receipt”) in which the individual received a qualifying amount, is the total of (a) the amount, if any, by which (i) the amount that would be the individual’s tax payable under this Part for the eligible taxation year if the total of all amounts, each of which is the specified portion, in relation to the eligible taxation year, of a qualifying amount received by the individual before the end of the year of receipt, were added in computing the individual’s taxable income for the eligible taxation year exceeds (ii) the total of all amounts each of which is an amount, in respect of a qualifying amount received by the individual before the year of receipt, that was included because of this paragraph in computing the individual’s notional tax payable under this Part for the eligible taxation year, and (b) if the eligible taxation year ended before the taxation year preceding the year of receipt, an amount equal to the amount that would be calculated as interest payable on the amount, if any, by which the amount determined under paragraph (a) in respect of the eligible taxation year exceeds the taxpayer’s tax payable under this Part for that year, if the amount that would be calculated as interest payable on that excess were calculated (i) for the period that began on May 1 of the year following the eligible taxation year and that ended immediately before the year of receipt, and (ii) at the prescribed rate that is applicable for the purpose of subsection 164(3) with respect to the period. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2000, c. 19, s. 30; 2013, c. 34, s. 255
Income Tax Act — I-3.3 120.4
ferred, either directly or indirectly, in any manner whatever, to a person with whom the specified individual does not deal at arm’s length, then the amount of that taxable capital gain is deemed not to be a taxable capital gain and twice the amount is deemed to be received by the specified individual in the year as a taxable dividend that is not an eligible dividend. Taxable capital gain of trust (5) If a specified individual who has not attained the age of 17 years before a taxation year would be, if this Act were read without reference to this section, required under subsection 104(13) or 105(2) to include an amount in computing the specified individual’s income for the taxation year, then to the extent that the amount can reasonably be considered to be attributable to a taxable capital gain (other than an excluded amount) of a trust from a disposition of shares (other than shares of a class listed on a designated stock exchange or shares of a mutual fund corporation) that are transferred, either directly or indirectly, in any manner whatever, to a person with whom the specified individual does not deal at arm’s length, subsections 104(13) and 105(2) do not apply in respect of the amount and twice the amount is deemed to be received by the specified individual in the year as a taxable dividend that is not an eligible dividend. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2000, c. 19, s. 30; 2007, c. 35, s. 68; 2011, c. 24, s. 36; 2013, c. 34, s. 256(E); 2014, c. 39, s. 37; 2016, c. 11, s. 4; 2018, c. 12, s. 13 2023, c. 26, s. 28