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

Act current to 2013-05-20 and last amended on 2013-03-01. Previous Versions

Marginal note:Exception for first-year residents

233.7 Notwithstanding sections 233.2, 233.3, 233.4 and 233.6, a person who, but for this section, would be required under any of those sections to file an information return for a taxation year, is not required to file the return if the person is an individual (other than a trust) who first became resident in Canada in the year.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 1997, c. 25, s. 69.
Marginal note:Ownership certificates

  • 234. (1) Before the bearer coupon or warrant representing either interest or dividends payable by any debtor or cheque representing dividends or interest payable by a non-resident debtor is negotiated by or on behalf of a resident of Canada, there shall be completed by or on behalf of the resident an ownership certificate in prescribed form.

  • Marginal note:Idem

    (2) An ownership certificate completed pursuant to subsection 234(1) shall be delivered in such manner, at such time and at such place as may be prescribed.

  • Marginal note:Idem

    (3) The operation of this section may be extended by regulation to bearer coupons or warrants negotiated by or on behalf of non-resident persons.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 1970-71-72, c. 63, s. 1 “234”;
  • 1976-77, c. 4, s. 75;
  • 1980-81-82-83, c. 48, s. 106;
  • 1985, c. 45, s. 126(F);
  • 1988, c. 55, s. 177.
Marginal note:Penalty for failing to file corporate returns

235. Every large corporation (within the meaning assigned by subsection 225.1(8)) that fails to file a return for a taxation year as and when required by section 150 or 190.2 is liable, in addition to any penalty otherwise provided, to a penalty for each such failure equal to the amount determined by the formula

A × B

where

A 
is the total of

  • (a) 0.0005% of the corporation’s taxable capital employed in Canada at the end of the taxation year, and

  • (b) 0.25% of the tax that would be payable under Part VI by the corporation for the year if this Act were read without reference to subsection 190.1(3); and

B 
is the number of complete months, not exceeding 40, from the day on or before which the return was required to be filed to the day on which the return is filed.
  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 1994, c. 7, Sch. II, s. 187, Sch. VIII, s. 135;
  • 2006, c. 4, s. 88.
Previous Version
Marginal note:Execution of documents by corporations

236. A return, certificate or other document made by a corporation pursuant to this Act or a regulation shall be signed on its behalf by the President, Secretary or Treasurer of the corporation or by any other officer or person thereunto duly authorized by the Board of Directors or other governing body of the corporation.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 1970-71-72, c. 63, s. 1“236”.