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

Act current to 2016-11-21 and last amended on 2016-07-01. Previous Versions

Marginal note:Anti-avoidance

 If a person enters into an arrangement or engages in a practice, the primary purpose of which can reasonably be considered to be to avoid an obligation under this Part, the person is subject to the obligation as if the person had not entered into the arrangement or engaged in the practice.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 2014, c. 20, s. 101.
Marginal note:Deemed-compliant FFI

 If a Canadian financial institution makes a reasonable determination that it is to be treated as a deemed-compliant FFI under Annex II to the agreement, this Part applies to the institution, with such modifications as the circumstances require, to the extent that the agreement imposes due diligence and reporting obligations on the institution.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 2014, c. 20, s. 101.
 
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