Income Tax Act — I-3.3 120.4
o is related to the individual at any time in the year is actively engaged on a regular basis in the activities of the particular partnership or trust related to the rental of property, (d) an amount included in computing the individual’s income for the year to the extent that the amount is in respect of a debt obligation that (i) is of a corporation (other than a mutual fund corporation or a corporation shares of a class of the capital stock of which are listed on a designated stock exchange), partnership or trust (other than a mutual fund trust), and (ii) is not (A) described in paragraph (a) of the definition fully exempt interest in subsection 212(3), (B) listed or traded on a public market, or (C) a deposit, standing to the credit of the individual, (I) within the meaning assigned by the Canada Deposit Insurance Corporation Act , or (II) with a credit union or a branch in Canada of a bank, and (e) an amount in respect of a property, to the extent that (i) the amount (A) is a taxable capital gain, or a profit, of the individual for the year from the disposition after 2017 of the property, or (B) is included under subsection 104(13) or 105(2) in computing the individual’s income for the year and can reasonably be considered to be attributable to a taxable capital gain, or a profit, of any person or partnership for the year from the disposition after 2017 of the property, and (ii) the property is (A) a share of the capital stock of a corporation (other than a share of a class listed on a designated stock exchange or a share of the capital stock of a mutual fund corporation), or (B) a property in respect of which the following conditions are met: (I) the property is 1 an interest in a partnership, 2 an interest as a beneficiary under a trust (other than a mutual fund trust or a trust that is deemed to be in existence by subsection 143(1)), or 3 a debt obligation (other than a debt obligation described in any of clauses (d)(ii)(A) to (C)), and (II) either 1 in respect of the property an amount is included in the individual’s split income for the year or an earlier taxation year, or 2 all or any part of the fair market value of the property, immediately before the disposition referred to in clause (i)(A) or (B), as the case may be, is derived, directly or indirectly, from a share described in clause (A). ( revenu fractionné ) Additional rules — specified individual (1.1) For the purpose of applying this section in respect of a specified individual in respect of a taxation year, (a) an individual is deemed to be actively engaged on a regular, continuous and substantial basis in the activities of a business in a taxation year of the individual if the individual works in the business at least an average of 20 hours per week during the portion of the year in which the business operates; (b) if an amount would — if this section were read without reference to this paragraph — be split income of a specified individual who has attained the age of 17 years before the year in respect of a property, and that property was acquired by, or for the benefit of, the specified individual as a consequence of the death of another person, then (i) for the purpose of applying paragraph (b) of the definition reasonable return in subsection (1), to the extent that the particular amount referred to in that paragraph is in respect of the property, then the factors referred to in that paragraph in respect of the other person are to be included for the purpose of determining a reasonable return in respect of the individual, (ii) for the purposes of this subparagraph and the definition excluded business in subsection (1), if the other person was actively engaged on a regular, substantial and continuous basis in the activities of a business throughout five previous taxation years, then the individual is deemed to have been actively engaged on a regular, substantial and continuous basis in the business throughout those five years, and (iii) for the purpose o