Income Tax Regulations

Version of section 413 from 2009-11-19 to 2011-10-11:

  •  (1) In this Part, if a corporation is not resident in Canada, “salaries and wages paid in the year” by the corporation does not include salaries and wages paid to employees of a permanent establishment outside Canada.

  • (2) For the purposes of paragraph 402(3)(a), where a corporation is not resident in Canada, “total gross revenue for the year” of the corporation does not include gross revenue reasonably attributable to a permanent establishment outside Canada.

  • (3) For the purpose of paragraph 404(1)(b), in the case of an authorized foreign bank, “all loans and deposits of the bank for the year” is to be read as a reference to “all loans and deposits of the bank for the year in respect of its Canadian banking business”.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts and regulations. SOR/94-686, s. 79(F);
  • 2009, c. 2, s. 95;
  • SOR/2009-302, s. 4.