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

Regulations are current to 2014-12-22 and last amended on 2014-12-16. Previous Versions

Tax on 1971 Undistributed Income on Hand

  •  (1) [Repealed, SOR/80-140, s. 3]

  • (2) Any retroactive election by a corporation under subsection 196(1.1) of the Act, in respect of a dividend payable before 1979 in respect of which an election was made under section 83 of the Act, shall be made by filing with the Minister the following documents:

    • (a) the form prescribed by the Minister;

    • (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made;

    • (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation; and

    • (d) a schedule showing the computation of the amount, immediately before the time immediately before the specified election referred to in subsection 196(1.1) of the Act was made, of the corporation’s 1971 undistributed income on hand.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/80-140, s. 3;
  • SOR/83-268, s. 4;
  • SOR/94-686, s. 79(F).

 [Repealed, SOR/78-604, s. 2]

Capital Gains Dividends Payable by Mutual Fund Corporations, Investment Corporations and Mortgage Investment Corporations

[SOR/94-686, s. 18(F)]

 Any election under subsection 131(1) of the Act in respect of a dividend payable by a mutual fund corporation or an investment corporation shall be made by filing with the Minister the following documents:

  • (a) the form prescribed by the Minister;

  • (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made;

  • (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation;

  • (d) where paragraph (f) is not applicable, a schedule showing the computation of the amount, immediately before the election, of the corporation’s capital gains dividend account; and

  • (e[Repealed, SOR/88-165, s. 13]

  • (f) where subsection 131(1.1) of the Act is applicable, a schedule showing the computation of the amount, immediately before the earlier of

    • (i) the date the dividend became payable, and

    • (ii) the first day on which any part of the dividend was paid,

    of the corporation’s capital gains dividend account.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/81-704, s. 1;
  • SOR/83-268, s. 5;
  • SOR/88-165, s. 13;
  • SOR/94-686, ss. 71(F), 79(F).

 Any election under subsection 130.1(4) of the Act in respect of a dividend payable by a mortgage investment corporation shall be made by filing with the Minister the following documents:

  • (a) the documents referred to in paragraphs 2104(a) to (c); and

  • (b) a schedule showing the computation of the capital gains dividend in accordance with paragraph 130.1(4)(a) of the Act.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/88-165, s. 14;
  • SOR/94-686, ss. 72(F), 79(F).