GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — 4608
rporation. (11) For the purpose of this section, where an expense of a principal-business corporation is deemed by subsection 66(12.61) or (12.63) of the Act to be an expense of a shareholder of the corporation, the shareholder shall be deemed to have incurred the expense at the time it was incurred by the principal-business corporation. (12) For the purposes of this section, where an expense incurred by a partnership is, under subparagraph 66.1(6)(a)(iv) of the Act, a Canadian exploration expense of a taxpayer who was a member of the partnership, the taxpayer shall be deemed to have incurred the Canadian exploration expense at the time the expense was incurred by the partnership. (13) For the purposes of this section, where an expense is a Canadian development expense of a taxpayer that is, under subsection 66.1(9) of the Act, deemed to be a Canadian exploration expense of the taxpayer, the taxpayer shall be deemed to have incurred the Canadian exploration expense at the time the Canadian development expense was incurred. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/89-463, s. 1; SOR/92-681, s. 3; SOR/94-686, ss. 58(F), 78(F), 79(F)
Income Tax Regulations — Income Tax Regulations
joint exploration corporation has the meaning assigned by paragraph 66(15)(g) of the Act; ( société d’exploration en commun )
Income Tax Regulations — Income Tax Regulations
principal-business corporation has the meaning assigned by paragraph 66(15)(h) of the Act; ( société exploitant une entreprise principale )
Income Tax Regulations — Income Tax Regulations
shareholder corporation has the meaning assigned by paragraph 66(15)(i) of the Act; ( société actionnaire )
Income Tax Regulations — Income Tax Regulations
well means an exploratory probe or an oil or gas well. ( puits )
Income Tax Regulations — 4609
4609 For the purposes of the definition specified percentage in subsection 127(9) of the Act, the following region is a prescribed offshore region: (a) that submarine area, not within a province, adjacent to the coast of Canada and extending throughout the natural prolongation of that portion of the land territory of Canada comprising the Gaspé Peninsula and the provinces of Newfoundland, Prince Edward Island, Nova Scotia and New Brunswick to the outer edge of the continental margin or to a distance of two hundred nautical miles from the baselines from which the territorial sea of Canada is measured, whichever is the greater; and (b) the waters above the submarine area referred to in paragraph (a). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/89-463, s. 1
Income Tax Regulations — 4610
4610 For the purpose of paragraph (c.1) of the definition qualified property in subsection 127(9) of the Act, the area prescribed is the area comprising the Provinces of Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland and the Gaspé Peninsula. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/95-244, s. 5
Income Tax Regulations — 4700
4700 Any election by an individual under subsection 26(7) of the Income Tax Application Rules , shall be made by filing with the Minister the form prescribed. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/94-686, s. 48
Income Tax Regulations — 4800
atutory declaration made by a director of the corporation stating that, after reasonable inquiry for the purpose of informing himself in that regard, to the best of his knowledge the corporation complies with all the prescribed conditions that must be complied with at the time the election is made. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/83-268, s. 8; SOR/94-686, ss. 74(F), 79(F); SOR/2001-216, s. 3; 2007, c. 35, s. 77; 2013, c. 34, s. 396(F)
Income Tax Regulations — 4800.1
4800.1 For the purposes of paragraph 107(1)(a) and subsections 107(1.1), (2) and (4.1) of the Act, the following are prescribed trusts: (a) a trust maintained primarily for the benefit of employees of a corporation or two or more corporations which do not deal at arm’s length with each other, where one of the main purposes of the trust is to hold interests in shares of the capital stock of the corporation or corporations, as the case may be, or any corporation not dealing at arm’s length therewith; (b) a trust established exclusively for the benefit of one or more persons each of whom was, at the time the trust was created, either a person from whom the trust received property or a creditor of that person, where one of the main purposes of the trust is to secure the payments required to be made by or on behalf of that person to such creditor; and (c) a trust all or substantially all of the properties of which consist of shares of the capital stock of a corporation, where the trust was established pursuant to an agreement between two or more shareholders of the corporation and one of the main purposes of the trust is to provide for the exercise of voting rights in respect of those shares pursuant to that agreement. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/90-284, s. 1; SOR/92-661, s. 1; SOR/94-686, s. 79(F); 2013, c. 34, s. 397
Income Tax Regulations — 4801
4801 In applying at any time paragraph 132(6)(c) of the Act, the following are prescribed conditions in respect of a trust: (a) either (i) the following conditions are met: (A) there has been at or before that time a lawful distribution in a province to the public of units of the trust and a prospectus, registration statement or similar document was not, under the laws of the province, required to be filed in respect of the distribution, and (B) the trust (I) was created after 1999 and on or before that time, or (II) satisfies, at that time, the conditions prescribed in section 4801.001, or (ii) a class of the units of the trust is, at that time, qualified for distribution to the public; and (b) in respect of a class of the trust’s units that meets at that time the conditions described in paragraph (a), there are at that time no fewer than 150 beneficiaries of the trust, each of whom holds (i) not less than one block of units of the class, and (ii) units of the class having an aggregate fair market value of not less than $500. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2001-216, s. 4; 2013, c. 34, s. 398
Income Tax Regulations — 4801.001
4801.001 For the purpose of applying at any particular time subclause 4801(a)(i)(B)(II), the following are the prescribed conditions: (a) the trust was created before 2000; (b) the trust was a unit trust on July 18, 2005; (c) the particular time is after 2003; and (d) the trusts elects by notifying the Minister, in writing before the trust’s filing-due date for its 2012 taxation year, that this section applies to it. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2013, c. 34, s. 399
Income Tax Regulations — 4801.01
4801.01 For the purpose of subsection 132.11(1) of the Act, a trust that is a money market fund as defined in National Instrument 81-102 Mutual Funds , as amended from time to time, of the Canadian Securities Administrators is a prescribed trust. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2001-216, s. 5
Income Tax Regulations — 4801.02
4801.02 For the purposes of the definition eligible business entity in subsection 204.8(1), clause 204.82(2.2)(d)(i)(B) and paragraph 204.82(6)(a) of the Act, a corporation registered under Part III.1 of the Community Small Business Investment Funds Act , chapter 18 of the Statutes of Ontario, 1992, is a prescribed corporation. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2001-216, s. 5
Income Tax Regulations — 4801.1
4801.1 For the purpose of paragraph (c) of the definition exempt trust in subsection 233.2(1) of the Act, the following conditions are hereby prescribed in respect of a trust: (a) at least 150 beneficiaries of the trust are beneficiaries in respect of the same class of units of the trust; and (b) at least 150 of the beneficiaries in respect of that class each hold (i) at least one block of units of that class, and (ii) units of that class having a total fair market value of at least $500. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/98-453, s. 1
Income Tax Regulations — 4802
agreement allocates to the beneficiaries the total amount borrowed by the trust. (1.3) If an amount borrowed by a trust is deemed to have been borrowed by a defined benefit provision under subsection (1.2), the amount is deemed not to have been borrowed by the trust for the purposes of paragraph (1.1)(c). (2) [Repealed, 2017, c. 20, s. 33] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/85-696, s. 14; SOR/87-559, s. 1; SOR/92-51, s. 8; SOR/92-661, s. 2; SOR/94-353, s. 1; SOR/94-686, s. 79(F); SOR/96-226, s. 1; SOR/2003-328, s. 2; SOR/2005-264, s. 5; SOR/2011-188, s. 18; 2012, c. 31, s. 67; 2017, c. 20, s. 33 2022, c. 19, s. 87 2023, c. 26, s. 104
Income Tax Regulations — 4803
ore than one group; (b) no person shall be included in a group if he holds (i) not less than one block of shares or one block of units, as the case may be, of that class, and (ii) shares or units, as the case may be, of that class having an aggregate fair market value of not less than $500; and (c) the membership of each group shall be determined in the manner that results in the greatest possible number of groups. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-470, s. 2; SOR/84-146, s. 1; SOR/85-696, s. 14; SOR/94-686, ss. 25(F), 79(F); SOR/2011-188, s. 19; 2013, c. 34, s. 400(F)
Income Tax Regulations — (a)
block of shares means, with respect to any class of the capital stock of a corporation, (a) 100 shares, if the fair market value of one share of the class is less than $25, (b) 25 shares, if the fair market value of one share of the class is $25 or more but less than $100, and (c) 10 shares, if the fair market value of one share of the class is $100 or more; ( tranche d’actions )
Income Tax Regulations — (a)
block of units means, with respect to any class of units of a trust, (a) 100 units, if the fair market value of one unit of the class is less than $25, (b) 25 units, if the fair market value of one unit of the class is $25 or more but less than $100, and (c) 10 units, if the fair market value of one unit of the class is $100 or more; ( tranche d’unités )
Income Tax Regulations — Income Tax Regulations
equity share has the meaning assigned by section 204 of the Act; ( action à revenu variable )
Income Tax Regulations — (a)
insider of a corporation has the meaning that would be assigned by section 100 of the Canada Corporations Act , as it read on June 22, 2009, if the references in that section to “insider of a company”, “public company” and “equity shares” were read as references to “insider of a corporation”, “corporation” and “shares” respectively, and includes a person who is an employee of the corporation, or of a person who does not deal at arm’s length with the corporation, and whose right to sell or transfer any share of the capital stock of the corporation, or to exercise the voting rights, if any, attaching to the share, is restricted by (a) the terms and conditions attaching to the share, or (b) any obligation of the person, under a contract, in equity or otherwise, to the corporation or to any person with whom the corporation does not deal at arm’s length. ( dirigeant d’une société )
Income Tax Regulations — 4900
 SOR/95-513, s. 1; SOR/96-450, s. 1; SOR/98-250, s. 1; SOR/99-9, s. 1; SOR/99-81, s. 1; SOR/99-102, s. 1; SOR/2001-216, ss. 6, 10(F),11(F); SOR/2001-289, s. 8(E); SOR/2005-264, s. 6; 2007, c. 29, s. 32, c. 35, ss. 89, 126; SOR/2007-212, s. 2; 2009, c. 2, s. 105; 2011, c. 24, s. 84; SOR/2011-188, s. 20; SOR/2012-270, s. 1; 2013, c. 40, s. 108; 2017, c. 33, s. 95 2022, c. 19, s. 88 SOR/2024-231, s. 8
Income Tax Regulations — 4901
n provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/81-725, s. 4; SOR/86-390, s. 3; SOR/86-1092, s. 13(E); SOR/90-606, s. 1; SOR/94-471, s. 2; SOR/94-686, ss. 27(F), 58(F), 78(F), 79(F); SOR/95-513, s. 2; SOR/2001-216, ss. 7, 11(F); SOR/2005-264, s. 7; 2007, c. 35, s. 127; 2009, c. 2, s. 106 2024, c. 15, s. 80
Income Tax Regulations — Income Tax Regulations
allocation in proportion to patronage has the meaning assigned by subsection 135(4) of the Act; ( répartition proportionnelle à l’apport commercial )
Income Tax Regulations — Income Tax Regulations
connected person under a governing plan of a plan trust means a person who is an annuitant, a beneficiary, an employer or a subscriber under, or a holder of, the governing plan and any person who does not deal at arm’s length with that person; ( personne rattachée )
Income Tax Regulations — (a)
connected shareholder of a corporation at any time is a person (other than an exempt person in respect of the corporation) who owns, directly or indirectly, at that time, not less than 10% of the issued shares of any class of the capital stock of the corporation or of any other corporation that is related to the corporation and, for the purposes of this definition, (a) paragraphs (a) to (e) of the definition specified shareholder in subsection 248(1) of the Act apply, and (b) an exempt person in respect of a corporation is a person who deals at arm’s length with the corporation where the total of all amounts, each of which is the cost amount of any share of the capital stock of the corporation, or of any other corporation that is related to it, that the person owns or is deemed to own for the purposes of the definition specified shareholder in subsection 248(1) of the Act, is less than $25,000; ( actionnaire rattaché )
Income Tax Regulations — Income Tax Regulations
consumer goods or services has the meaning assigned by subsection 135(4) of the Act; ( marchandises de consommation ou services )
Income Tax Regulations — (a)
designated shareholder of a corporation at any time means a taxpayer who at that time (a) is, or is related to, a person (other than an exempt person) who owns, directly or indirectly, not less than 10% of the issued shares of any class of the capital stock of the corporation or of any other corporation that is related to the corporation and, for the purposes of this definition, (i) paragraphs (a) to (e) of the definition specified shareholder in subsection 248(1) of the Act apply, and (ii) an exempt person in respect of a corporation is a person who deals at arm’s length with the corporation where the total of all amounts, each of which is the cost amount of any share of the capital stock of the corporation, or of any other corporation that is related to it, that the person owns or is deemed to own for the purposes of the definition specified shareholder in subsection 248(1) of the Act, is less than $25,000, (b) is or is related to a member of a partnership that controls the corporation, (c) is or is related to a beneficiary under a trust that controls the corporation, (d) is or is related to an employee of the corporation or a corporation related thereto, where any group of employees of the corporation or of the corporation related thereto, as the case may be, controls the corporation, except where the group of employees includes a person or a related group that controls the corporation, or (e) does not deal at arm’s length with the corporation; ( actionnaire désigné )
Income Tax Regulations — Income Tax Regulations
governing plan means a deferred profit sharing plan or a revoked plan, a FHSA, a registered disability savings plan, a registered education savings plan, a registered retirement income fund, a registered retirement savings plan or a TFSA; ( régime d’encadrement )
Income Tax Regulations — Income Tax Regulations
plan trust means a trust governed by a governing plan; ( fiducie de régime )
Income Tax Regulations — (a)
qualifying share , in respect of a specified cooperative corporation and a governing plan, means a share of the capital or capital stock of the corporation where (a) ownership of the share or a share identical to the share is not a condition of membership in the corporation, or (b) a connected person under the governing plan (i) has not received a payment from the corporation pursuant to an allocation in proportion to patronage in respect of consumer goods or services, and (ii) can reasonably be expected not to receive a payment, after the acquisition of the share by the plan trust, from the corporation pursuant to an allocation in proportion to patronage in respect of consumer goods or services; ( part admissible )
Income Tax Regulations — Income Tax Regulations
revoked plan has the meaning assigned by section 204 of the Act; ( régime dont l’agrément est retiré )
Income Tax Regulations — Income Tax Regulations
small business investment limited partnership has the meaning assigned by subsection 5102(1); ( société de personnes en commandite de placement dans des petites entreprises )
Income Tax Regulations — Income Tax Regulations
small business investment trust has the meaning assigned by subsection 5103(1); ( fiducie de placement dans des petites entreprises )
Income Tax Regulations — Income Tax Regulations
small business security has the meaning assigned by subsection 5100(2); ( titre de petite entreprise )
Income Tax Regulations — (a)
specified cooperative corporation means (a) a cooperative corporation within the meaning assigned by subsection 136(2) of the Act, or (b) a corporation that would be a cooperative corporation within the meaning assigned by subsection 136(2) of the Act if the purpose described in that subsection were the purpose of providing employment to the corporation’s members or customers; ( coopérative déterminée )
Income Tax Regulations — Income Tax Regulations
specified small business corporation , at any time, means a corporation (other than a cooperative corporation) that would, at that time or at the end of the last taxation year of the corporation that ended before that time, be a small business corporation if the expression “Canadian-controlled private corporation” in the definition small business corporation in subsection 248(1) of the Act were read as “Canadian corporation (other than a corporation controlled at that time, directly or indirectly in any manner whatever, by one or more non-resident persons)”. ( société déterminée exploitant une petite entreprise )
Income Tax Regulations — 5000
5000 [Repealed, 2013, c. 40, s. 109] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2005-264, s. 9; 2009, c. 2, s. 107; 2011, c. 24, s. 85; 2013, c. 40, s. 109
Income Tax Regulations — 5001
5001 [Repealed, 2013, c. 40, s. 109] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2005-264, s. 9; 2009, c. 2, s. 107; 2011, c. 24, s. 85; 2013, c. 40, s. 109
Income Tax Regulations — 5002
5002 [Repealed, SOR/2005-264, s. 9] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2000-62, s. 3; SOR/2001-216, s. 9; SOR/2005-264, s. 9
Income Tax Regulations — 5100
bligation or any part thereof for, shares of the capital stock of the corporation or an option or right to acquire such shares shall not be considered; and (b) a corporation shall be deemed not to be associated with another at any time where the corporation would not be associated with the other if (i) the references to “controlled, directly or indirectly, in any manner whatever” in section 256 of the Act (other than subsection (5.1) thereof) were read as references to “controlled”, and (ii) such rights described in subsection 256(1.4) of the Act and shares, as were held at that time by a small business investment corporation, small business investment limited partnership or small business investment trust, were disregarded. (4) [Repealed, SOR/2005-264, s. 10] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/86-390, s. 5; SOR/87-134, s. 1; SOR/90-606, s. 4; SOR/92-123, s. 2; SOR/94-471, s. 4; SOR/94-686, ss. 29(F), 50(F), 62, 78(F), 79(F); SOR/98-281, s. 1; SOR/99-102, s. 2; SOR/2001-289, ss. 1, 7, 8(E); SOR/2005-264, s. 10
Income Tax Regulations — Income Tax Regulations
designated rate , at any time, means 150 per cent of the highest of the prime rates generally quoted at that time by the banks to which Schedule A to the Bank Act applies; ( taux déterminé )
Income Tax Regulations — (a)
eligible corporation , at any time, means (a) a particular corporation that is a taxable Canadian corporation all or substantially all of the property of which is at that time (i) used in a qualifying active business carried on by the particular corporation or by a corporation controlled by it, (ii) shares of the capital stock of one or more eligible corporations that are related to the particular corporation, or debt obligations issued by those eligible corporations, or (iii) any combination of the properties described in subparagraphs (i) and (ii), (a.1) a specified holding corporation, or (b) a venture capital corporation described in section 6700, but does not include (c) a corporation (other than a mutual fund corporation) that is (i) a trader or dealer in securities, (ii) a bank, (iii) a corporation licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as a trustee, (iv) a credit union, (v) an insurance corporation, or (vi) a corporation the principal business of which is the lending of money or the purchasing of debt obligations or a combination of them, (d) a corporation controlled by one or more non-resident persons, (e) a venture capital corporation, other than a venture capital corporation described in section 6700, or (f) a corporation that has made an election in respect of a particular taxation year under subparagraph (iv) of the description of B in paragraph 204.82(2.2)(c.1) of the Act, if that time is in the 12-month period that begins on the day that is six months after the day on which the particular taxation year ends; ( société admissible )
Income Tax Regulations — (a)
qualifying active business , at any time, means any business carried on primarily in Canada by a corporation, but does not include (a) a business (other than a business of leasing property other than real property) the principal purpose of which is to derive income from property (including interest, dividends, rent and royalties), or (b) a business of deriving gains from the disposition of property (other than property in the inventory of the business), and, for the purposes of this definition, a business carried on primarily in Canada by a corporation, at any time, includes a business carried on by the corporation if, at that time, (c) at least 50 per cent of the full time employees of the corporation and all corporations related thereto employed in respect of the business are employed in Canada, or (d) at least 50 per cent of the salaries and wages paid to employees of the corporation and all corporations related thereto employed in respect of the business are reasonably attributable to services rendered in Canada; ( entreprise admissible exploitée activement )