1 (1) In this Act and in the application of the provisions of the Income Tax Act
(Canada) that are by this Act made applicable for the purposes of this Act, (a) each of the provisions contained in Part XVII of the Income Tax Act (Canada) applies for the purposes of this Act unless otherwise provided in this Act; (b)  Repealed:  1996, c. 29, s. 36 (1). (c) subsection 248 (7) of the Income Tax Act (Canada) does not apply for the purposes of this Act; (d) the interpretations contained in the said Part XVII of the expressions “farming”, “foreign resource property”, “Minister”, “paid-up capital”, “regulation”, “taxable income”, “taxable income earned in Canada” and “tax payable” do not apply and in lieu thereof the following interpretations are applicable: “farming” includes tillage of the soil, livestock raising or exhibiting, maintaining of horses for racing, raising of poultry, fur farming, dairy farming, fruit growing, and the keeping of bees, but does not include an office or employment under a person engaged in the business of farming and, for the purposes of subsection 71 (1) only, does not include the maintaining of horses for racing, (“agriculture”) “foreign resource property” has the meaning given to that expression by section 14, (“avoir minier étranger”) “Minister” means, unless otherwise provided in this Act, the Minister of Finance, but the reference to “Minister” in subsection 249.1 (7) of the Income Tax Act
(Canada) means the Minister of National Revenue for the purposes of this Act, (“ministre”) “paid-up capital” has the meaning given to that expression by subsection 89 (1) of the Income Tax Act (Canada), but such meaning does not apply for the purposes of Part III of this Act, (“capital versé”) “regulations” means regulations made under this Act, (“règlements”) “tax payable”, by a corporation or other person under any Part of this Act by or under which provision is made for the assessment of tax, means the tax payable by the corporation or other person as fixed by assessment or reassessment, subject to variation on objection or appeal, if any, in accordance with sections 84 to 92, (“impôt payable”) “taxable income” has the meaning given to that expression by section 7, (“revenu imposable”) “taxable income earned in Canada” has the meaning given to that expression by section 8. (“revenu imposable gagné au Canada”)  R.S.O. 1990, c. C.40, s. 1 (1); 1994, c. 14, s. 1 (1); 1996, c. 1, Sched. B, s. 1 (1); 1996, c. 29, s. 36 (1, 2); 1997, c. 43, Sched. A, s. 1 (1, 2); 1999, c. 9, s. 72; 2001, c. 23, s. 20; 2004, c. 16, s. 2 (2); 2008, c. 7, Sched. E, s. 1. Definitions (2) In this Act and in the application of the provisions of the Income Tax Act (Canada) that are by this Act made applicable for the purposes of this Act, “bank” means a bank to which the Bank Act (Canada) applies; (“banque”) “family farm corporation” means a corporation that is throughout the taxation year a corporation, (a) all shares of the capital stock of which that confer on the holder thereof the right to vote were owned by, (i) an individual ordinarily resident in Canada or by that individual and a member or members of that individual’s family ordinarily resident in Canada or by another family farm corporation, or (ii) another corporation, all shares of the capital stock of which that confer on the holder thereof the right to vote were owned directly or indirectly by a person or persons referred to in subclause (i), (b) 75 per cent of the assets of which were farming assets, and (c) which carried on the business of farming in Ontario through the employment of a shareholder or a member of his or her family actually engaged in the operation of the farm or, where subclause (a) (ii) applies, through the employment of the person or persons referred to in subclause (a) (i); (“société agricole familiale”) “family fishing corporation” means a corporation that is throughout the taxation year a corporation, (a) all shares of the capital stock of which that confer on the holder thereof the right to vote were owned by, (i) an individual ordinarily resident in Canada or by that individual and a member or members of that individual’s family ordinarily resident in Canada or by another family fishing corporation, or (ii) another corporation, all shares of the capital stock of which that confer on the holder thereof the right to vote were owned directly or indirectly by a person or persons referred to in subclause (i), (b) 75 per cent of the assets of which were fishing assets, and (c) which carried on the business of fishing in Ontario through the employment of a shareholder or a member of his or her family actually engaged in the operation of the business or, where subclause (a) (ii) applies, through the employment of the person or persons referred to in subclause (a) (i); (“société de pêche familiale”) “farming assets” of a family farm corporation means, (a) cash, trade accounts receivable, supplies and inventory of commodities or things produced, raised or grown through farming, (b) land, buildings, equipment, machinery, and livestock that are used chiefly in the operation of the farm by the corporation, (c) any right or licence granted or issued under any Act of the Legislature that permits or regulates the production or sale of any commodity or thing produced, raised or grown through farming, (d) the building in which a shareholder or member or members of his or her family reside who are engaged in the operation of the farm if that building is on land that is used or is contiguous to land used by that shareholder or member or members of his or her family in the operation of the farm, (e) shares in another family farm corporation, (f) a mortgage taken by the family farm corporation as security for the balance of the sale price on its sale of farming assets referred to in clause (b), provided that the amount of the aggregate of its remaining farming assets referred to in clauses (a) to (e) exceeds 50 per cent of its assets; (“actif agricole”) “federal assessment action” means any of the following actions taken by the Minister of National Revenue under the Income Tax Act (Canada), (a) an assessment, reassessment or additional assessment of tax, interest or penalties, (b) a determination or redetermination of a loss or an amount or a written notice of a change in a loss or an amount, (c) a written notice that no tax is payable, or (d) a confirmation of an assessment, reassessment or additional assessment of tax, interest or penalties or of a determination or redetermination of a loss or an amount; (“mesure fiscale fédérale”) “fishing assets” of a family fishing corporation means, (a) cash, trade accounts receivable, supplies and inventory used in the fishing business, (b) land, buildings, boats, ships, equipment, machinery and nets that are used chiefly in the operation of the fishing business by the corporation, (c) any right or licence granted or issued under any Act of the Legislature that permits or regulates the catching or sale of fish, and (d) shares in another family fishing corporation; (“actif de pêche”) “jurisdiction” means a province or territory of Canada or a state outside Canada having sovereign power; (“autorité législative”) “member of his or her family” means, with respect to an individual referred to in the definition of “family farm corporation” or “family fishing corporation” or in subclause 61 (5) (c) (i), (a) his or her spouse or common-law partner, (b) his or her child, (c) his or her father, mother, grandfather or grandmother, (d) his or her brother or sister or any lawful descendant of his or her brother or sister, (e) the brother or sister of his or her father or mother or any lawful descendant of that uncle or aunt, (f) the father or mother of his or her spouse or common-law partner, (g) a brother or sister of his or her spouse or common-law partner or any lawful descendant of that brother or sister, (h) the spouse or common-law partner of his or her child, or (i) a person adopted by him or her under the Child, Youth and Family Services Act, 2017 or a predecessor of that Act or the spouse, common-law partner or any lawful descendant of that person; (“membre de sa famille”) “permanent establishment” has the meaning given to that expression by section 4; (“établissement stable”) “province” means a province as defined in subsection 35 (1) of the Interpretation Act (Canada); (“province”) “return” means a tax return of a corporation or other person for a taxation year that meets the requirements of section 75 respecting the form and medium, the contents, the accompanying documents and the manner of delivery; (“déclaration”) “taxation year”, of a person, means, (a) a calendar year, if the person is an administrator of a benefit plan under section 74.2 and is not a corporation, (b) a taxation year of the person for the purposes of the Income Tax Act (Canada), if the person is an insurance broker within the meaning of section 74.3 and is not a corporation, and (c) a fiscal period for which the person’s statement of the condition of affairs is prepared for the purposes of reporting to the Superintendent of Financial Services, if the person is an insurance exchange within the meaning of section 74.4; (“année d’imposition”) Note: On a day to be named by proclamation of the Lieutenant Governor, clause (c) of the definition of “taxation year” in subsection 1 (2) of the Act is amended by striking out “Superintendent of Financial Services” and substituting “Chief Executive Officer of the Financial Services Regulatory Authority of Ontario”. (See: 2018, c. 8, Sched. 6, s. 1 (2)) “timber royalty” includes any consideration for a right under or pursuant to which a right to cut or take timber from a timber limit in Canada is obtained or derived, to the extent that such consideration is dependent upon, and computed by reference to, the amount of timber cut or taken. (“redevance forestière”)  R.S.O. 1990, c. C.40, s. 1 (2); 1994, c. 14, s. 1 (2, 3); 1997, c. 43, Sched. A, s. 1 (3-5); 2000, c. 42, s. 10; 2004, c. 16, s. 2 (2); 2005, c. 31, Sched. 5, s. 1; 2017, c. 14, Sched. 4, s. 9; 2018, c. 8, Sched. 6, s. 1 (1). Interpretation (3) In the application of the sections of the Income Tax Act (Canada) that by this Act are made applicable for the purposes of this Act, (a) “capital cost” means the cost of property as determined for the purposes of this Act; (b) “undepreciated capital cost” means the undepreciated capital cost of depreciable property as determined for the purposes of this Act; (c) the references therein to, (i) returns required to be filed under section 150 of that Act shall be deemed to be references to the returns required to be filed under section 75 of this Act, and (ii) assessments to be made under section 152 of that Act shall be deemed to be references to assessments to be made under section 80 of this Act; (d)  Repealed:  2005, c. 28, Sched. D, s. 1 (2). R.S.O. 1990, c. C.40, s. 1 (3); 1996, c. 29, s. 36 (3); 2004, c. 16, s. 2 (2); 2005, c. 28, Sched. D, s. 1 (1, 2). Application of federal provisions referred to in federal provisions (3.1) The following rules apply if a provision of the Income Tax Act (Canada) is made applicable for the purposes of this Act and the provision refers to another provision of the Income Tax Act
(Canada) (in this subsection called the “other provision”): 1. Subject to paragraph 3, if the other provision does not otherwise apply for the purposes of this Act, it shall apply for the purposes of the application of the following provisions of the Income Tax Act (Canada) for the purposes of this Act: i. Section 12. ii. Section 12.2. iii. Subsection 13 (7), paragraph 13 (7.1) (e) and the definition of “I” in the definition of “undepreciated capital cost” in subsection 13 (21). iv. Subsection 14 (3). v. Section 20. vi. Paragraphs 37 (1) (d) and (e). vii. Clauses 53 (1) (e) (i) (B) and 53 (2) (c) (i) (B) and subparagraphs 53 (2) (c) (vi), (vii) and (viii) and 53 (2) (h) (ii), (iii) and (iv). viii. Section 56. ix. Section 60. x. The definition of “L” in the definition of “cumulative Canadian exploration expense” in subsection 66.1 (6). xi. Section 66.8. xii. Paragraph 67.1 (2) (d). xiii. Paragraph 84 (1) (c.3). xiv. Section 88. xv. The definition of “relevant tax factor” in subsection 95 (1). xvi. Subsection 96 (2.1). xvii. Paragraph 110 (1) (k). xviii. Paragraph 111 (1) (e). xix. Paragraph 127.2 (6) (a) and subsection 127.2 (8). xx. Subsection 127.3 (6). xxi. Subsection 128.1 (2). xxii. The definition of “Canadian property” in subsection 133 (8). xxiii. Subsection 137 (4.3). xxiv. Section 138. xxv. Paragraph 138.1 (1) (k). xxvi. Section 248. xxvii. Subsection 258 (5). 2. If the other provision is subsection 192 (4.1) or 194 (4.1), it shall apply for the purposes of the application of subparagraph (b) (iii) of the definition of “paid-up capital” in section 89 of the Income Tax Act (Canada) for the purposes of this Act. 3. If the other provision does not apply for the purposes of this Act because a provision of this Act is enacted to apply instead, the reference to the other provision in the provision of the Income Tax Act
(Canada) that applies for the purposes of this Act shall be deemed to be a reference to the provision of this Act that applies instead. 4. If the application of the other provision for the purposes of this Act differs from the application of the other provision for the purposes of the Income Tax Act (Canada), the reference to the other provision in the provision of that Act shall be deemed to be a reference to the other provision as it applies for the purposes of this Act. 5. Despite paragraph 3, if the other provision is referred to in clause 53 (1) (e) (i) (B) or 53 (2) (c) (i) (B) of the Income Tax Act (Canada) or in the definition of “gross revenue” in subsection 248 (1) of that Act, the other provision shall apply for the purposes of the application of that clause or definition for the purposes of this Act. 6. Except as otherwise provided in paragraphs 1 to 5, if the other provision does not apply for the purposes of this Act, it shall not apply for the purposes of the application of any provision of the Income Tax Act (Canada) for the purposes of this Act.  2005, c. 28, Sched. D, s. 1 (3). Application of regulations under Income Tax Act
(Canada) (4) Despite subsections (1) and (2), any regulation made pursuant to any provision of the Income Tax Act
(Canada) that is by this Act made applicable for the purposes of this Act shall apply with necessary modifications for the purposes of this Act unless otherwise provided by this Act or by the regulations.  R.S.O. 1990, c. C.40, s. 1 (4); 2004, c. 16, s. 2 (2). Elections (5) Any election or designation by a corporation which has been properly made for the purposes of the Income Tax Act (Canada), pursuant to any provision of that Act that is by this Act made applicable for the purposes of this Act, shall be deemed to have been properly made for the purposes of this Act, provided that, (a) except as otherwise required by section 29.1 or 31.1 or subsection 34 (10), where an amount elected or designated would be different from the amount determined in accordance with this Act, the amount determined in accordance with this Act applies; and (b) the provisions in that Act imposing penalties for late filing of such elections are not applicable for the purposes of this Act.  R.S.O. 1990, c. C.40, s. 1 (5); 1997, c. 43, Sched. A, s. 1 (6); 2004, c. 16, s. 2 (2). Late and amended elections (5.1) Where, under subsection 220 (3.2) of the Income Tax Act (Canada), the Minister of National Revenue has extended the time for making an election under that Act or has granted permission to amend an election made under that Act, the election or amended election, as the case may be, shall be deemed to have been properly made for the purposes of this Act and shall apply as described in subsection (5) of this section and in paragraph 220 (3.3) (a) of the Income Tax Act (Canada).  1994, c. 14, s. 1 (4); 2004, c. 16, s. 2 (2). Revoked elections (5.2) Where, under subsection 220 (3.2) of the Income Tax Act (Canada), the Minister of National Revenue has granted permission to revoke an election made under that Act, the election shall be deemed never to have been made for the purposes of this Act.  1994, c. 14, s. 1 (4); 2004, c. 16, s. 2 (2). Registered pension funds (6) Any registered pension fund or plan that has been accepted for registration by the Minister of National Revenue for Canada shall be deemed to have been accepted for registration by the Minister of Finance.  R.S.O. 1990, c. C.40, s. 1 (6); O.C. 355/93; 1997, c. 19, s. 4 (1); 2004, c. 16, s. 2 (2). Income Tax Act (Canada) applies as amended from time to time (7) The provisions of the Income Tax Act (Canada) by this Act made applicable for the purposes of this Act shall, unless otherwise provided in this Act, be deemed to be applicable as amended or re-enacted from time to time, and such amendments or re-enactments shall apply for the purposes of this Act in the same manner as they apply for the purposes of the Income Tax Act (Canada).  R.S.O. 1990, c. C.40, s. 1 (7); 2004, c. 16, s. 2 (2). Income Tax Regulations (Canada) (7.1) The reference in subsection (7) to the provisions of the Income Tax Act (Canada) includes a reference to the provisions of the Income Tax Regulations (Canada) as made, amended and remade from time to time.  1998, c. 34, s. 26; 2004, c. 16, s. 2 (2). Tax Treaty (8) Where, (a) a corporation is subject to tax under this Act and under the Income Tax Act (Canada); and (b) the corporation’s liability for tax under the Income Tax Act (Canada) is subject to and modified by the application of the provisions of a Tax Treaty, Agreement or Convention between Canada and another country, the provisions of this Act may be modified and applied in the manner prescribed by the regulations for the purpose of giving effect to a provision of such a Treaty, Agreement or Convention for the purposes of this Act, and regulations related to this subsection may have retroactive application if they so state.  R.S.O. 1990, c. C.40, s. 1 (8); 2004, c. 16, s. 2 (2). Deemed delivery by registered mail (9) Where a receipt is obtained from the addressee on the delivery of anything required or permitted by this Act to be delivered by registered mail, the delivery shall be deemed to have been made by registered mail for the purposes of this Act, and a “registered letter” includes any letter deemed by this subsection to have been delivered by registered mail.  R.S.O. 1990, c. C.40, s. 1 (9); 2004, c. 16, s. 2 (2). Deemed deduction of investment tax credit (10) Any amount deemed to have been deducted under subsection 127 (5) of the Income Tax Act
(Canada) by operation of subsection 127.1 (3) or 192 (10) of that Act shall be deemed to have been deducted under subsection 127 (5) of that Act for the purposes of this Act.  1992, c. 3, s. 1; 2004, c. 16, s. 2 (2). Interpretation, corporation (11) For the purposes of Parts V and VI, a reference to “corporation” shall be deemed to include a reference to an administrator of a benefit plan within the meaning of section 74.2, an insurance broker within the meaning of section 74.3 and an insurance exchange within the meaning of section 74.4.  1996, c. 1, Sched. B, s. 1 (2); 1997, c. 43, Sched. A, s. 1 (8); 2004, c. 16, s. 2 (2). (12) Repealed:  2005, c. 28, Sched. D, s. 1 (4). Section Amendments with date in force (d/m/y) 1992, c. 3, s. 1 - 25/06/1992; 1994, c. 14, s. 1 (1, 3, 5) - 23/06/1994; 1994, c. 14, s. 1 (2) - 28/02/1992; 1994, c. 14, s. 1 (4) - 17/12/1991; 1996, c. 1, Sched. B, s. 1 (1, 2) - 01/07/1993; 1996, c. 29, s. 36 (1, 2) - 01/03/1994; 1996, c. 29, s. 36 (3) - 01/01/1993; 1997, c. 19, s. 4 (1) - 10/10/1997; 1997, c. 43, Sched. A, s. 1 (1, 2, 4, 5, 8) - 01/01/1998; 1997, c. 43, Sched. A, s. 1 (3) - 20/12/1996; 1997, c. 43, Sched. A, s. 1 (6, 7) - 06/05/1997; 1998, c. 34, s. 26 - 18/12/1998; 1999, c. 9, s. 72 - 01/01/1995 2000, c. 42, s. 10
- 01/01/2001 2001, c. 23, s. 20
- 05/05/1999 2004, c. 16, s. 2 (1, 2) - 01/01/2004; 2004, c. 31, Sched. 9, s. 1 - 16/12/2004 2005, c. 28, Sched. D, s. 1 (1) - 01/12/1991; 2005, c. 28, Sched. D, s. 1 (2, 3) - 01/01/2003; 2005, c. 28, Sched. D, s. 1 (4) - 16/12/2004; 2005, c. 31, Sched. 5, s. 1 - 15/12/2005 2008, c. 7, Sched. E, s. 1 - 01/31/1991 2017, c. 14, Sched. 4, s. 9 - 30/04/2018 2018, c. 8, Sched. 6, s. 1 (1) - 08/05/2018; 2018, c. 8, Sched. 6, s. 1 (2) - not in force Liability for Taxes Taxes payable