Income Tax Regulations (C.R.C., c. 945)

Regulations are current to 2014-09-01 and last amended on 2014-06-19. Previous Versions

Share Purchase Tax Credits

  •  (1) In this section,

    “administrator”

    “administrator” has the meaning assigned by paragraph 47.1(1)(a) of the Act; (administrateur)

    “designated share”

    “designated share” means a share of the capital stock of a corporation in respect of which the corporation has designated an amount pursuant to subsection 192(4) of the Act; (action désignée)

    “first purchaser”

    “first purchaser”, in relation to a designated share, means the first person (other than a trader or dealer in securities) to be the registered holder of the share; (premier acheteur)

    “trader or dealer in securities”

    “trader or dealer in securities” has the meaning assigned by paragraph 47.1(1)(l) of the Act. (négociant ou courtier en valeurs)

  • (2) Each corporation that has designated an amount under subsection 192(4) of the Act in respect of a share issued by it shall make an information return in prescribed form in respect of each such share.

  • (3) Each trader or dealer in securities who has acquired and disposed of a designated share during the course of the primary distribution thereof pursuant to a public offering shall make an information return in prescribed form in respect of each such designated share.

  • (4) Each bank, credit union and trust company that, as agent, acquired a designated share for the first purchaser thereof shall make an information return in prescribed form in respect of each such designated share.

  • (5) Each trader or dealer in securities who, as administrator of an indexed security investment plan, acquired a designated share for the first purchaser thereof shall make an information return in prescribed form in respect of each such designated share.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/85-160, s. 3;
  • SOR/88-165, s. 31(F);
  • SOR/94-686, ss. 52(F), 79(F).

Resource Flow-Through Shares

  •  (1) Each corporation that has renounced an amount under subsection 66(12.6), (12.601), (12.62) or (12.64) of the Act to a person shall make an information return in prescribed form in respect of the amount renounced.

  • (2) The return required under subsection (1) shall be filed with the Minister together with the prescribed form required to be filed under subsection 66(12.7) of the Act in respect of the amount renounced.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/87-512, s. 2;
  • SOR/94-686, s. 79(F);
  • SOR/96-199, s. 1.

Partnership Return

[SOR/94-686, s. 78(F)]
  •  (1) Every member, of a partnership that carries on a business in Canada at any time in a fiscal period of the partnership (other than a member that is, because of subsection 115.2(2) of the Act, not considered to be carrying on business in Canada at that time), or of a partnership that is at any time in a fiscal period of the partnership, a Canadian partnership or a SIFT partnership, shall make for that period an information return in prescribed form containing the following information:

    • (a) the income or loss of the partnership for the fiscal period;

    • (b) the name, address and, in the case of an individual, the social insurance number of each member of the partnership who is entitled to a share referred to in paragraph (c) or (d) for the fiscal period;

    • (c) the share of each member of the income or loss of the partnership for the fiscal period;

    • (d) the share of each member for the fiscal period of each deduction, credit or other amount in respect of the partnership that is relevant in determining the member’s income, taxable income, tax payable or other amount under the Act;

    • (e) the prescribed information contained in the form prescribed for the purposes of subsection 37(1) of the Act, where the partnership has made an expenditure in respect of scientific research and experimental development in the fiscal period; and

    • (f) such other information as may be required by the prescribed form.

  • (2) For the purposes of subsection (1), an information return made by any member of a partnership shall be deemed to have been made by each member of the partnership.

  • (3) Every person who holds an interest in a partnership as nominee or agent for another person shall make an information return in prescribed form in respect of that interest.

  • (4) [Repealed, SOR/93-443, s. 1]

  • (5) Subject to subsection (6), a return required by this section shall be filed with the Minister without notice or demand

    • (a) in the case of a fiscal period of a partnership all the members of which are corporations throughout the fiscal period, within five months after the end of the fiscal period;

    • (b) in the case of a fiscal period of a partnership all the members of which are individuals throughout the fiscal period, on or before the last day of March in the calendar year immediately following the calendar year in which the fiscal period ended or with which the fiscal period ended coincidentally; and

    • (c) in the case of any other fiscal period of a partnership, on or before the earlier of

      • (i) the day that is five months after the end of the fiscal period, and

      • (ii) the last day of March in the calendar year immediately following the calendar year in which the fiscal period ended or with which the fiscal period ended coincidentally.

  • (6) Where a partnership discontinues its business or activity, the return required under this section shall be filed, in respect of any fiscal period or portion thereof prior to the discontinuance of the business or activity for which a return has not previously been filed under this section, on or before the earlier of

    • (a) the day that is 90 days after the discontinuance of the business or activity, and

    • (b) the day the return is required to be filed under subsection (5).

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts and regulations. SOR/89-519, s. 2;
  • SOR/93-443, s. 1;
  • SOR/94-686, ss. 53(F), 78(F), 79(F), 81(F);
  • 2007, c. 29, s. 30;
  • 2013, c. 34, s. 377.