Federal-Provincial Fiscal Arrangements Act (R.S.C., 1985, c. F-8)

Act current to 2013-04-29 and last amended on 2013-03-01. Previous Versions

Marginal note:Provision of information

  • 12.01 (1) No payment may be made to a province under this Part unless the province provides to the Minister all of the information that the Minister considers necessary for the determination of the amount of that payment in accordance with this Part.

  • Marginal note:Certification by Minister of province

    (2) All information provided by a province shall be of the best quality that is available at the time it is provided and shall be certified as such by an appropriate minister of the provincial government.

  • 2007, c. 35, s. 139.

PART IV.01

TRANSFER PAYMENTS — TAX IN RESPECT OF STOCK OPTION BENEFIT DEFERRAL UNDER PART I.01 OF THE INCOME TAX ACT

Marginal note:Transfer payments — Consolidated Revenue Fund

12.02 Subject to this Act, the Minister may pay to a province, out of the Consolidated Revenue Fund, at such time as the Minister may determine, an amount equal to 1/3 of the tax payable under subparagraph 180.01(2)(c)(ii) of the Income Tax Act for a taxation year by a taxpayer who is resident in the province on the last day of that taxation year.

  • 2010, c. 25, s. 144.
Marginal note:Eligibility for payment

12.03 No payment may be made under this Part to a province if, in the opinion of the Minister, the province imposes or purports to impose a tax that is similar to the tax imposed under Part I.01 of the Income Tax Act.

  • 2010, c. 25, s. 144.

PART IV.1

TRANSFER PAYMENTS WITH RESPECT TO PREFERRED SHARE DIVIDEND TAXES UNDER PARTS IV.1 AND VI.1 OF THE INCOME TAX ACT

Marginal note:Transfer payments in respect of preferred share dividend taxes under Parts IV.1 and VI.1 of the Income Tax Act

  • 12.1 (1) Subject to this Act, the Minister may, in respect of taxes payable under Parts IV.1 and VI.1 of the Income Tax Act by a corporation for a taxation year of the corporation ending in a fiscal year, pay to a province out of the Consolidated Revenue Fund, at such time as the Minister may determine, an amount for the fiscal year equal to thirty-five per cent of that proportion of the taxes so payable that

    • (a) the amount of taxable income of the corporation earned in that taxation year in that province determined in accordance with the provisions of regulations made under the Income Tax Act,

    is of

    • (b) the corporation’s taxable income for that taxation year.

  • Marginal note:Where income of corporation is nil

    (2) For the purposes of subsection (1), where a corporation’s taxable income for a taxation year would, but for this subsection, be nil, the corporation shall be deemed to have taxable income for the taxation year equal to $100.

  • R.S., 1985, c. 46 (4th Supp.), s. 6.