Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.))

Act current to 2014-09-15 and last amended on 2014-06-27. Previous Versions

Marginal note:Agreements providing for tax transfer payments
  •  (1) The Minister may, with the approval of the Governor in Council, enter into an agreement with the government of a province to provide for tax transfer payments and the terms and conditions relating to such payments.

  • Marginal note:Tax transfer payment

    (2) Where, on account of the tax for a taxation year payable by an individual under this Part, an amount has been deducted or withheld under subsection 153(1) on the assumption that the individual was resident in a place other than the province in which the individual resided on the last day of the year, and the individual

    • (a) has filed a return of income for the year with the Minister,

    • (b) is liable to pay tax under this Part for the year, and

    • (c) is resident on the last day of the year in a province with which an agreement described in subsection 154(1) has been entered into,

    the Minister may make a tax transfer payment to the government of the province not exceeding an amount equal to the product obtained by multiplying the amount or the total of the amounts so deducted or withheld by a prescribed rate.

  • Marginal note:Payment deemed received by individual

    (3) Where, pursuant to an agreement entered into under subsection 154(1), an amount has been transferred by the Minister to the government of a province with respect to an individual, the amount shall, for all purposes of this Act, be deemed to have been received by the individual at the time the amount was transferred.

  • Marginal note:Payment deemed received by Receiver General

    (4) Where, pursuant to an agreement entered into under subsection 154(1), an amount has been transferred by the government of a province to the Minister with respect to an individual, the amount shall, for all purposes of this Act, be deemed to have been received by the Receiver General on account of the individual’s tax under this Part for the year in respect of which the amount was transferred.

  • Marginal note:Amount not to include refund

    (5) In this section, an amount deducted or withheld does not include any refund made in respect of that amount.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. R.S., 1985, c. 1 (5th Supp.), s. 154;
  • 1998, c. 19, s. 183.
Marginal note:Farmers and fishermen
  •  (1) Subject to section 156.1, every individual whose chief source of income for a taxation year is farming or fishing shall, on or before December 31 in the year, pay to the Receiver General in respect of the year, 2/3 of

    • (a) the amount estimated by the individual to be the tax payable under this Part by the individual for the year, or

    • (b) the individual’s instalment base for the preceding taxation year.

  • Definition of “instalment base”

    (2) In this section, “instalment base” of an individual for a taxation year means the amount determined in prescribed manner to be the individual’s instalment base for the year.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. R.S., 1985, c. 1 (5th Supp.), s. 155;
  • 1994, c. 7, Sch. II, s. 127, c. 8, s. 22.