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  1. Canada National Parks Act - S.C. 2000, c. 32 (SCHEDULE 1 : National Parks of Canada)

    [...]

    [...]

    Thence west along said north boundary and the production thereof to the southeast corner of Section four in Township twenty-six, Range nineteen;

    Thence north along the east boundary of said Section four to its intersection with the left bank of Kicking Horse River;

    [...]

    Commencing at the northwest corner of Legal Subdivision 8, Section 34, Township 23, Range 2, West of the 6th Meridian;

    Thence easterly following the northerly boundaries of the south halves of Sections 34, 35 and 36 in said Township 23 and Section 31, Township 23, Range 1, West of the 6th Meridian, to the northeast corner of the south half of said Section 31;

    Thence northerly following the east boundaries of said Section 31 and Section 6, in Township 24, in said Range 1, to the northwest corner of Section 5, in said Township 24;

    Thence easterly following the north boundaries of Sections 5, 4 and 3 in said Township 24, to the northeast corner of said Section 3;

    Thence northerly following the west boundary of Section 11, in said Township 24 to the northwest corner of said Section 11;

    Thence easterly following the north boundary of said Section 11 to the northeast corner of said Section;

    [...]

    In accordance with Plan of Lot 3643, recorded under number 63656 in said Records, being a copy of the Official Plan confirmed under Section 63, Land Act, at Victoria, B.C., November 30, 1977 and numbered as F.B. 18077:

    Continuing from the northeast corner of said Section 11;

    Thence easterly following the northerly boundaries of Legal Subdivisions 13, 14, 15 and 16 of Section 12 in said Township 24, to the northeast corner of said Section 12;

    [...]

    Thence southerly and westerly along the easterly and southerly limits of the watershed of La Forme Creek to and along the southerly limit of the watershed of Martha Creek to the north boundary of Section 13, Township 25, Range 2, West of the 6th Meridian;

    Thence westerly following the north boundary of said Section 13 to its northwest corner;

    Thence southerly following the west boundaries of Sections 13, 12 and 1 in said Township 25 and Section 36, 25 and 24, Township 24, in said Range 2 to the southwest corner of said Section 24;

    Thence westerly following the north boundary of Section 14 in said Township 24 to the northwest corner of the northeast quarter of said Section 14;

    Thence southerly following the west boundary of said northeast quarter Section to the southwest corner of said northeast quarter of said Section 14;

    [...]

    Continuing from the southwest corner of said northeast quarter of Section 14;

    Thence on a bearing S45°13′10″W a distance of 1,149.83 metres to the southwest corner of said Section 14;

    Thence on a bearing S45°13′50″W a distance of 1,148.94 metres to the southeast corner of Legal Subdivision 11 of Section 10, in said Township 24;

    Thence on a bearing S45°23′30″W a distance of 575.98 metres to the northwest corner of Legal Subdivision 3 of said Section 10;

    [...]

    Continuing from the northwest corner of said Legal Subdivision 3 of Section 10;

    Thence southerly following the west boundary of said Legal Subdivision 3, and the west boundary of Legal Subdivision 14 of Section 3, to a point on said west boundary of Legal Subdivision 14 being the southeast corner of the north half of Legal Subdivision 13 of Section 3;

    [...]

    Thence on a bearing of 179°50′40″ following the easterly boundary of said Parcel A, for a distance of about 101.40 metres to the southeast corner of said Parcel A, being a point on the southerly boundary of the north half of the south half of Legal Subdivision 12 of Section 3 as shown on said Plan 63325;

    [...]

    Thence on a bearing of 90°12′30″ following the southerly boundary of said south half of the southeast quarter of Legal Subdivision 12, for a distance of about 33.63 metres, as shown on said Plan 41266, to a point being the northwest corner of part of the southwest quarter of Section 3 as shown on Plan 41269 in said records, a copy of which is deposited under number DF20353 in said office;

    Thence on a bearing of 180°00′00″ following the westerly boundary of said part of the southwest quarter of Section 3, for a distance of about 204.95 metres to the southwest corner of said part of the southwest quarter of Section 3, as shown on said Plan 41269;

    Thence on a bearing of 89°58′00″ following the southerly boundary of said part of the southwest quarter of Section 3, for a distance of about 162.31 metres to a point on said southerly boundary as shown on Plan 43402 in said records, a copy of which is deposited under number DF23953 in said office;

    Thence on a bearing of 177°40′00″, for a distance of about 604.02 metres to the southeasterly corner of Legal Subdivision 4 of Section 3, as shown on said Plan 43402;

    [...]

    Thence on a bearing of 99°30′00″ following the northerly boundary of said Lot 88, for a distance of about 9.94 metres to the northeasterly corner of said Lot 88, being a point on the easterly boundary of Legal Subdivision 7 of Section 34, Township 23, Range 2, West of the 6th Meridian as shown on Plan 43015 in said records;

    [...]

    Thence toward the summit of Mount Charles Stewart on a line having a bearing designated 69°48.8′ to a standard post and stone mound on the south boundary of the northeast quarter of section 14 in township 25, range 11, west of the 5th Meridian, as the last aforesaid line and post are shown on Plan 38147 in said records;

    Thence easterly along the south boundary of said quarter and the south boundaries of the northwest and northeast quarters of section 13, in said township, to a point on the east boundary of said section 13;

    Thence northerly along said east boundary to a standard post, pits and mound on the last aforesaid line and 7.93 metres, more or less, south of the northeast corner of said section 13;

    [...]

    Firstly, commencing at the northeast corner of Blood Indian Reserve 148A (formerly Blood Indian Reserve Timber Limit A) according to plan no. 4513 in the Canada Lands Surveys Records at Ottawa, a copy of which has been deposited in the Land Titles Office for the South Alberta Land Registration District at Calgary under no. 1714 H.I., said corner being at the intersection of the northerly boundary of section 28, township 1, range 28, west of the 4th Meridian and the left bank of Belly River according to said plan;

    Thence easterly along the northerly boundaries of sections 28 and 27, including the road allowance, in said township to the northeast corner of said section 27;

    Thence southerly along the easterly boundaries of sections 27, 22, 15, 10 and 3, including the road allowances, in said township to the International boundary between Canada and the United States;

    [...]

    Thence generally northerly along the right banks of said creeks to the easterly boundary of section 16, township 3, range 30, west of the 4th Meridian;

    Thence southerly along the easterly boundary of said section 16 and across the road allowance to the northeast corner of section 9, in said township 3;

    Thence easterly across the road allowance and along the northerly boundary of section 10, in said township 3, to the northeast corner of said section 10;

    Thence southerly along the easterly boundary of said section 10 to its southeast corner;

    Thence easterly across the road allowance and along the northerly boundary of section 2 in said township 3 to the northeast corner of the northwest quarter of said section 2;

    Thence southerly along the easterly boundary of the west half of said section 2 to the southeast corner of said west half;

    Thence on a bearing of 180°07′, a distance of 20.117 metres to a standard post on the northerly boundary of section 34, township 2, in said range 30;

    Thence easterly along the northerly boundaries of sections 34, 35 and 36, including the road allowances, to the northeast corner of said section 36, in said township 2;

    Thence southerly along the easterly boundaries of sections 36, 25 and 24, including the road allowance, to the southeast corner of section 24, in said township 2;

    Thence easterly along the northerly boundaries of sections 18, 17 and 16, including the road allowances, to the northeast corner of section 16, township 2, range 29;

    Thence southerly along the easterly boundaries of sections 16, 9 and 4, including the road allowance, to the southeast corner of section 4, township 2, range 29;

    Thence southerly across the road allowance to the northeast corner of section 33, township 1, in said range 29;

    Thence easterly across the road allowance and along the northerly boundary of section 34, in said township 1, to its northeast corner;

    Thence southerly along the easterly boundary of said section 34 to its southeast corner;

    Thence easterly along the northerly boundaries of sections 26 and 25, including the road allowances, to the northeast corner of said section 25 in said township 1;

    Thence easterly across the road allowance and along the northerly boundary of section 30, township 1, range 28, to the northwest corner of said Indian Reserve;

    [...]

    Commencing at the northwest corner of section 34, in said township 54, range 20;

    Thence southerly along the east boundary of the statutory road allowance to the northwest corner of section 10, in said township 54, range 20;

    Thence westerly along the south boundary of the statutory road allowance to the northwest corner of section 9, in said township 54, range 20;

    Thence southerly along the east boundary of the statutory road allowance to the northwest corner of section 4, in said township 54, range 20;

    Thence westerly in a straight line a distance of 20.1168 metres, more or less, to the northeast corner of section 5, in said township 54, range 20;

    Thence continuing westerly along the north boundary of said section 5 to the northwest corner thereof;

    Thence southerly along the east boundary of the statutory road allowance to the northwest corner of section 32, in said township 53;

    Thence westerly along the south boundary of the statutory road allowance to the northwest corner of section 31, in said township 53;

    Thence southerly along the east boundary of the statutory road allowance to its intersection in section 30, in said township 52, with the northerly limit of the surveyed Beaver Lake — Edmonton Trail, as said trail is shown on Plan 10065 in the Canada Lands Survey Records at Ottawa;

    Thence easterly along said northerly limit of said trail to the east boundary of section 25, in said township 52;

    Thence northerly along the west boundary of the statutory road allowance to the southeast corner of section 1, in said township 54, range 20;

    Thence easterly along the north boundary of the statutory road allowance to the southeast corner of section 6, in said township 54, range 19;

    Thence northerly along the west boundary of the statutory road allowance to the northeast corner of section 31, in said township 54, range 19;

    [...]

    Secondly: the mines and minerals within section 13, township 53, range 20, west of the 4th Meridian as described on the certificate of the title number 1364, book K.Q., folio 43, registered on January 29, 1957, in the North Alberta Land Registration District.

    [...]

    Section thirteen, the north halves of sections fourteen and fifteen, sections nineteen to thirty-six inclusive, all in township fifty-three, range one; all of townships fifty-four, fifty-five, fifty-six, fifty-seven, fifty-eight, fifty-nine, sixty and sixty-one, range one; the north half of township fifty-three, range two; townships fifty-four, fifty-five, fifty-six, fifty-seven, fifty-eight, fifty-nine, sixty and sixty-one, range two; the north half of township fifty-three, range three; townships fifty-four, fifty-five, fifty-six, fifty-seven, fifty-eight, fifty-nine, sixty and sixty-one, range three; the north half of township fifty-three, range four; lying east of the east bank of the Sturgeon River; that part of township fifty-four, range four, lying east of the east bank of Sturgeon River; townships fifty-five, fifty-six, fifty-seven, fifty-eight, fifty-nine, sixty and sixty-one, range four, and all that portion of township sixty-two, range four, covered by Lavallée Lake; that part of township fifty-four, range five, lying east of the east bank of Sturgeon River; that part of township fifty-five, range five, lying east of the east bank of Sturgeon River; townships fifty-six, fifty-seven, fifty-eight, fifty-nine, sixty and sixty-one, range five; those parts of sections twenty-four, twenty-five, twenty-six, thirty-five and thirty-six, township fifty-five, range six, lying east of the east bank of the Sturgeon River; those parts of sections one and twelve, township fifty-six, range six, lying east of the east bank of Sturgeon River, all west of the third meridian; said park containing an area of approximately one thousand four hundred and ninety-six square miles.

    [...]

    Legal Subdivisions 12 and 13 in Section 17;

    The north half of Section 18;

    Section 19, excepting out of the northwest quarter, all those lands covered by the waters of Rock Creek as shown on Township Plan dated October 31, 1990;

    Legal Subdivisions 4, 5, 12 and 13 in Section 20;

    Legal Subdivisions 4 and 5 in Section 29;

    Section 30, excepting out of the northeast, northwest and southwest quarters, all those lands covered by the waters of Rock Creek and Hellfire Creek as shown on said township plan;

    Section 31, excepting thereout all those lands covered by the waters of Rock Creek as shown on said township plan;

    The north-south road allowances lying adjacent to and west of the west limits of the northwest quarter of Section 17, Sections 20, 30 and 31, and the southwest quarter of Section 29, including the intervening intersections, excepting out of the road allowance to and west of Section 30, the lands covered by Rock Creek as shown on said township plan;

    The east-west road allowances lying adjacent to and north of the north limits of Section 19, Legal Subdivision 13 of Section 20, and Section 31, excepting thereout all those lands covered by the waters of Rock Creek as shown on said township plan.

    [...]

    Section 25, excepting out of the northeast, northwest, and southeast quarters, all those lands covered by the waters of Hellfire Creek as shown on Township Plan dated October 31, 1990;

    Section 36, excepting out of the southwest quarter, all those lands covered by the waters of Hellfire Creek as shown on said township plan.

    [...]

    Section 1, excepting out of the northeast, northwest and southeast quarters, all those lands covered by the waters of Rock Creek as shown on Township Plan dated October 31, 1990.

    Section 2, excepting out of the north half, all those lands covered by the waters of Rock Creek as shown on said township plan;

    Section 3, excepting out of the northeast, northwest and southwest quarters, all those lands covered by the waters of Rock Creek as shown said township plan;

    Section 4, excepting thereout all those lands covered by the waters of Rock Creek and Wetherall Creek as shown on said township plan;

    Section 5, excepting thereout all those lands covered by the waters of Rock Creek as shown on said township plan;

    Section 6;

    Section 7, excepting out of the northwest quarter, all those lands covered by the waters of Horse Creek as shown on said township plan;

    Section 8;

    Section 9, excepting thereout all those lands covered by the waters of Wetherall Creek as shown on said township plan;

    Section 10;

    Section 11, excepting out of the southeast and southwest quarters, all those lands covered by the waters of Rock Creek as shown on said township plan;

    Section 12, excepting thereout all those lands covered by the waters of Rock Creek and Butte Creek as shown on said township plan;

    Sections 13 and 14;

    The south half of Section 15, excepting out of the southwest quarter, all those lands covered by the waters of Wetherall Creek as shown on said township plan;

    Section 16, excepting out of the southeast quarter, all those lands covered by the waters of Wetherall Creek as shown on said township plan;

    Section 17;

    Section 18, excepting out of the northeast, northwest and southwest quarters, all those lands covered by the waters of Horse Creek as shown on said township plan;

    Section 19, excepting out of the northeast, southeast and southwest quarters, all those lands covered by the waters of Horse Creek as shown on said township plan;

    Sections 20 and 21;

    Section 22, excepting out of the northeast, northwest and southwest quarters, all those lands covered by the waters of Wetherall Creek as shown on said township plan;

    Section 27, excepting out of the northeast, southeast and southwest quarters, all those lands covered by the waters of Wetherall Creek as shown on said township plan;

    Sections 28 and 29;

    Section 32, excepting out of the northwest quarter, all those lands covered by the waters of Horse Creek as shown on said township plan;

    Section 33;

    Section 34, excepting thereout all those lands covered by the waters of Wetherall Creek as shown on said township plan;

    The north-south road allowances lying adjacent to and west of the west limits of Sections 1, 12 and 13, Sections 2, 11 and the southwest quarter of Sections 14, Sections 3, 10, southwest quarter of Section 15, Sections 22, 27 and 34, Sections 4, 9, 16, 21, 28 and 33, Sections 5, 8, 17 and 20, and Sections 6, 7, 18 and 19, including the intervening intersections excepting thereout all those lands covered by the waters of Rock Creek, Wetherall Creek and Horse Creek as shown on said township plan;

    The east-west road allowances lying adjacent to and north of the north limits of Sections 7 to 12 inclusive, Sections 20 to 22 inclusive, and 32 to 34 inclusive, including all intervening intersections excepting thereout all those lands covered by the waters of Wetherall Creek and Horse Creek as shown on said township plan.

    [...]

    Section 1, excepting out of the north half, all those lands covered by the waters of Horse Creek as shown on Township Plan dated October 31, 1990.

    Section 12, excepting out of the northeast, southeast and southwest quarters, all those lands covered by the waters of Horse Creek as shown on said township plan;

    Sections 13 and 24;

    The east-west road allowances lying adjacent to and north of the north limit of Section 12.

    [...]

    The southwest quarter of Section 5;

    The south half of Section 6, excepting thereout all those lands covered by the waters of Rock Creek as shown on Township Plan dated October 31, 1990;

    The north-south road allowances lying adjacent to and west of the west limit of the southwest quarter of Section 5.

    [...]

    Sections 4, 5, 6, 7, 8 and 9;

    The north-south road allowances lying adjacent to and west of the west limits of Sections 4 and 9, and Sections 5 and 8.

    [...]

    The south half of Section 3;

    Sections 4 and 5;

    The southeast quarter of Section 6;

    Sections 8, 9 and 30;

    The north-south road allowances lying adjacent to and west of the west limits of the southwest quarter of Section 3, Sections 4 and 9, the southwest quarter of Section 5, and Section 30, including the intervening intersections.

    [...]

    Section 25.

    [...]

    The northeast quarter of Section 3;

    Section 5, 8, 9, 10 and 11;

    The north-south road allowances lying adjacent to and west of the west limits of Sections 9, 10 and 11.

    [...]

    Sections 1 and 2;

    Section 3, excepting out of the west half, all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990;

    Section 4, excepting out of the northwest, northeast and southeast quarters, all those lands covered by the waters of the Frenchman River as shown on said township plan, and excepting out of the southwest quarter, all those lands covered by the waters of the Frenchman River as shown on Township Plan dated February 15, 1918;

    The northeast, northwest and southwest quarters of Section 9, excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990;

    That portion of the southeast quarter of Section 9 described as follows: Commencing at the northeast corner of said quarter section; thence southerly along the east limit to the south limit; thence westerly along the south limit to its intersection with the left bank of the Frenchman River; thence northeasterly and westerly following the sinuosities of the left bank to its intersection with the west limit; thence northerly along the west limit to its intersection with the left bank; thence northeasterly following the sinuosities of the left bank to its intersection with the north limit of the quarter section; thence easterly along the north limit to the point of commencement as shown on Township Plan dated February 15, 1918. Also in the southeast quarter of Section 9, all those lands lying westerly of the right bank of the Frenchman River as shown on Township Plan dated February 15, 1918;

    Sections 10, 11, 12, 13 and 14;

    The north-south road allowances lying adjacent to and west of the west limits of Section 1, 12 and 13, Sections 2 and 11, and Sections 3 and 10, including the intervening intersections, excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990;

    The east-west road allowances lying adjacent to and north of the north limits of Sections 11 and 12.

    [...]

    Sections 6, 7 and 18.

    [...]

    Sections 1, 2, 3 and 4;

    The east half of Section 8, excepting out of the northeast quarter, all those lands covered by the waters of Little Breed Creek as shown on Township Plan dated October 31, 1990;

    Section 9, 10, 11, 12 and 13;

    The south half of Section 14;

    Section 15;

    Section 16, excepting out of the west half, all those lands covered by the waters of Little Breed Creek as shown on said township plan;

    The east half of Section 17, excepting out of the southeast quarter, all those lands covered by the waters of Little Breed Creek as shown on said township plan;

    The north-south road allowances lying adjacent to and west of the west limits of Sections 1, 2, 11 and the southwest quarter of Section 14, Sections 3, 10 and 15, Sections 9 and 16, including the intervening intersections, excepting thereout all those lands covered by the waters of Little Breed Creek as shown on said township plan;

    The east-west road allowances lying adjacent to and north of the north limits of the northeast quarter of Section 8, Sections 9, 10 and 11, excepting thereout all those lands covered by the waters of Little Breed Creek as shown on said township plan.

    [...]

    The north half of Section 19, excepting out of the northwest quarter, all those lands covered by the Frenchman River as shown on Township Plan dated August 16, 1918;

    The northwest quarter of Section 20;

    Sections 28 and 29;

    Section 30, excepting out of the southwest quarter, all those lands covered by the waters of the Frenchman River as shown on said township plan;

    Section 31, 32 and 33;

    The northwest quarter of Section 34;

    The north-south road allowances lying adjacent to and west of the west limits of the northwest quarter of Section 20 and Sections 29 and 32, the northwest quarter of Section 19 and Sections 30 and 31, Sections 28 and 33, the northwest quarter of Section 34, including the intervening intersections, excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990;

    The east-west road allowances lying adjacent to and north of the north limits of Section 19 and the northwest quarter of Section 20, all of Sections 31, 32 and 33, excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990.

    [...]

    The north half of Section 1;

    The northeast quarter of Section 2;

    The northeast quarter of Section 9;

    The north half of Section 10;

    Sections 11, 12, 13, 14 and 15;

    The east half Section 16;

    The north half of Section 18;

    Sections 19, 20, 21, 22 and 23;

    Section 24, excepting out of the southwest quarter, about 1.23 acres (0.50 hectare), for Roadway as shown on Plan 66SC08847 and out of the northeast, northwest and southeast quarters, all those lands covered by the waters of the Frenchman River as shown on Township Plan dated December 23, 1918;

    Section 25, excepting out of the northwest quarter, about 1.12 acres (0.45 hectare), and out of the southwest quarter, about 4.30 acres (1.74 hectares), for Roadway as shown on Plan 66SC08847 and excepting out of the northwest, southeast and southwest quarters, all those lands covered by the waters of the Frenchman River as shown on said township plan;

    Section 26, excepting thereout all those lands covered by the waters of the Frenchman River;

    Section 27, excepting out of the northeast quarter, about 2.54 acres (1.03 hectares), out of the northwest quarter, about 1.62 acres (0.66 hectare), and out of the southeast quarter, all that portion, for Roadway as shown on Plan AU 1365, and excepting all those lands covered by the waters of the Frenchman River as shown on said township plan;

    Section 28, excepting out of the northwest quarter, all those lands covered by the waters of the Frenchman River as shown on said township plan;

    Sections 29 and 30;

    Section 31, excepting out of the northeast and northwest quarters, all those lands covered by the waters of the Frenchman River as shown on said township plan;

    Section 32, excepting thereout, all those lands covered by the waters of the Frenchman River as shown on said township plan;

    Section 33, excepting out of the northeast quarter, about 4.54 acres (1.84 hectares), and out of the northwest quarter, about 0.98 acre (0.40 hectare), for Roadway as shown on Plan AU 1365 and excepting out of the southeast and southwest quarters, all those lands covered by the waters of the Frenchman River as shown on said township plan;

    Section 34, excepting out of the northwest quarter, about 2.23 acres (0.90 hectare), out of the southeast quarter, about 1.42 acres (0.57 hectare), and out of the southwest quarter, about 4.06 acres (1.64 hectares), for Roadway as shown on Plan AU 1365;

    Section 35;

    Section 36, excepting out of the southwest quarter, all those lands covered by the waters of the Frenchman River;

    The north-south road allowances lying adjacent to and west of the west limits of the northwest quarter of Section 1 and Sections 12, 13, 24, 25 and 36, the northwest quarter of Section 11 and Sections 14, 23, 26 and 35, the northwest quarter of Section 10 and Sections 15, 22, 27 and 34, Sections 21, 28 and 33, Sections 20, 29 and 32, the northwest quarter of Section 18 and Sections 19, 30 and 31, including the intervening intersections excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990;

    The east-west road allowances lying adjacent to and north of the north limits of the northeast quarter of Section 9 and Sections 10, 11 and 12, Sections 19 to 24 inclusive, Sections 31 to 36 inclusive excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated 31 October, 1990.

    [...]

    Section 13, excepting thereout of the southeast quarter about 1.581 acres (0.64 hectare), and out of the southwest quarter about 2.619 acres (1.06 hectares), both taken for roadway as shown on a Plan of Record in the Land Titles Office for the Swift Current Land Registration District as No. 91SC00331;

    The northeast quarter of Section 23;

    Sections 24 and 25;

    The northeast quarter and south half of Section 26, excepting out of the northeast quarter, all those lands covered by the waters of the Frenchman River as shown on Township Plan dated January 2, 1918;

    Section 28;

    The southeast quarter and north half of Section 32, excepting out of the northwest quarter about 1.779 acres (0.720 hectare), taken for roadway as shown on a Plan of Record in the Land Titles Office for the Swift Current Land Registration District as No. 91SC00331;

    The west half and southeast quarter of Section 33, excepting out of the southeast quarter, all those lands covered by the waters of the Frenchman River;

    Section 34, excepting out of the northwest, southwest and southeast quarters, all those lands covered by the waters of the Frenchman River as shown on Township Plan dated January 2, 1918;

    Section 35, excepting out of the northeast, southeast and southwest quarters, all those lands covered by the waters of the Frenchman River as shown on said township plan;

    Section 36, excepting out of the northeast and northwest quarters, all those lands covered by the waters of the Frenchman River as shown on said township plan;

    The north-south road allowances lying adjacent to and west of the west limits of Sections 25 and 36, Section 35, the southwest quarter of Section 34 and Section 33, including the intervening intersections, excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990;

    The east-west road allowances lying adjacent to and north of the north limits of the northeast quarter of Section 23, Sections 24 and 32, the northwest quarter of Section 33 and Sections 34, 35 and 36, excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990.

    [...]

    Legal Subdivisions 4 and 5 of the southwest quarter of Section 3;

    Section 4, excepting out of the northeast quarter, about 3.77 acres (1.53 hectares), and out of the southeast quarter about 4.68 acres (1.89 hectares), for Roadway as shown on Plan CN 7048;

    Sections 5, 6, 7 and 8;

    Section 9, excepting out of the northeast quarter, about 4.48 acres (1.81 hectares), and out of the southeast quarter about 0.41 acre (0.17 hectare), for Roadway as shown on Plan CN 7048;

    The south half of Section 16, excepting out of the southeast quarter, about 3.99 acres (1.61 hectares), for Roadway as shown on Plan CN 1001;

    The south half of Section 17;

    Section 18;

    The north-south road allowances lying adjacent to and west of the west limits of the southwest quarter of Section 3, Sections 4 and 9, Sections 5 and 8, Sections 6, 7 and 18, including the intervening intersections;

    The east-west road allowances lying adjacent to and north of the north limit of Sections 7, 8 and 9;

    That portion of the original road allowance lying south from and adjacent to Section 6, lying between the northerly productions of the east limit of Section 36, Township 2, Range 12, West of the Third Meridian and the west limit of Section 31, Township 2, Range 11, West of the Third Meridian.

    [...]

    Sections 1, 2 and 3;

    Section 4, excepting out of the northeast quarter, about 3.77 acres (1.53 hectares), out of the northwest quarter, about 0.67 acre (0.27 hectare), and out of the southeast quarter, about 4.27 acres (1.73 hectares), for Roadway as shown on Plan AU 1365;

    Section 5;

    Section 6, excepting out of the southeast and southwest quarters, all those lands covered by the waters of the Frenchman River as shown on Township Plan dated December 28, 1918;

    Sections 7 and 8;

    Section 9, excepting out of the northeast quarter, about 4.07 acres (1.65 hectares), out of the southeast quarter, about 1.61 acres (0.65 hectare), and out of the southwest quarter, about 2.49 acres (1.01 hectares), for Roadway as shown on Plan AU 1365;

    Sections 10, 11, 12, 13, 14 and 15;

    Section 16, excepting out of the northeast quarter, about 4.05 acres (1.64 hectares), and out of the southeast quarter, about 4.03 acres (1.63 hectares), for Roadway as shown on Plan AU 1365;

    Section 17;

    The east half of Section 18;

    The north-south road allowances lying adjacent to and west of the west limits of Sections 1, 12 and 13, Sections 2, 11 and 14, Sections 3, 10 and 15, Sections 4, 9 and 16, Sections 5, 8 and 17, and Sections 6 and 7, including the intervening intersections, excepting thereout all those lands covered by the waters of the Frenchman River as shown on Township Plan dated October 31, 1990;

    The east-west road allowances lying adjacent to and north of the north limits of the northeast quarter of Section 7 and Sections 8 to 12 inclusive;

    That portion of the original road allowance lying south from and adjacent to Section 6, lying between the northerly productions of the east limit of Sections 36, Township 2, Range 13, West of the Third Meridian and the west limit of Sections 31, Township 2, Range 12, West of the Third Meridian.

    [...]

    Section 1, excepting out of the southeast quarter, all those lands covered by the waters of the Frenchman River as shown on the Township Plan dated December 19, 1917;

    Section 2;

    Section 3, excepting thereout all those lands covered by the waters of the Frenchman River as shown on said township plan;

    The west half, southeast quarter and Legal Subdivisions 9, 10 and 15 of the northeast quarter of Section 4, excepting out of the southwest quarter, about 4.0 acres (1.62 hectares), and out of the southeast quarter, about 2.47 acres (1.00 hectare), as Parcel A, taken for roadway as shown on a Plan of Record in the Land Titles Office for the Swift Current Land Registration District as No. CG 5365;

    The northeast quarter of Section 4, excepting thereout:

    [...]

    b) That portion commencing at the northeast corner of said quarter section; thence southerly along the east limit 1320 feet (402.34 metres); thence westerly and parallel with the north limit 1320 feet (402.34 metres); thence northerly and parallel with the east limit to the north limit; thence easterly along the north limit to the point of commencement;

    Section 5, excepting out of the northwest quarter about 1.30 acres (0.53 hectare), and out of the southwest quarter about 3.62 acres (1.47 hectares), both taken for roadway as shown on a Plan of Record in the Land Titles Office for the Swift Current Land Registration District as No. 71SC08602;

    The southeast quarter of Section 8;

    The southwest quarter of Section 9, excepting thereout about 0.07 hectares, for the Val Marie Irrigation Project as shown on Plan 77SC13199;

    Sections 11, 12, 13 and 14;

    The north-south road allowances lying adjacent to and west of the west limits of Sections 1, 2, 3 and 4, southwest quarter of Section 9, Sections 12 and 13, including the intervening intersections;

    The east-west road allowances lying adjacent to and north of the north limits of Sections 11 and 12.

    [...]

    • (1) in Township 18, Range 16, all sections;

    • (2) in Township 18, Range 17, sections 1, 13, 24, 25, 26, 35, 36 and the east half of Section 12;

    • (3) in Township 19, Range 16, all sections;

    • (4) in Township 19, Range 17, all sections;

    • (5) in Township 19, Range 18:

      • (a) the northwest quarter of Section 19; excepting all that portion taken for a public road as shown on Plan 2642 filed in the Land Titles Office at Neepawa, a copy of which is recorded in the Canada Lands Surveys Records at Ottawa as 43180;

      • (b) sections 25, 26, 27, legal subdivisions 13 and 14 of Section 28, sections 29 to 36 inclusive;

      • (c) all that portion of the original Dominion Government Road Allowance adjoining the north boundary of Section 19, described as follows: commencing at a point on the north boundary of Section 19, a distance of 34 feet (10.36 metres) easterly from the northwest corner of Section 19; thence easterly along said north boundary 400 feet (121.92 metres); thence northerly at right angles with said north boundary 66 feet (20.12 metres) to the northerly limit of said original Dominion Government Road Allowance; thence westerly along the northerly limit of said road allowance 382 feet (116.43 metres); thence southwesterly in a straight line to the point of commencement;

      • (d) all that portion of the original Dominion Government Road Allowance between sections 29 and 30, lying north of the westerly production of the south boundary of southwest quarter Section 29;

      • (e) all that portion of the original Dominion Government Road Allowance between sections 31 and 32, lying south of the southerly shoreline of Clear Lake;

        [...]

    • (6) in Township 19, Range 19, sections 25, 26, 34, 35 and 36, the east half of Section 33, the northeast quarter of Section 24 and legal subdivisions 13, 14, 15 and 16 of Section 27;

    • (7) in Township 20, Range 16, all sections; excepting the east half of section 25 and the north half and the southeast quarter of section 36;

    • (8) in Township 20, Range 17, all sections;

    • (9) in Township 20, Range 18, all sections;

    • (10) in Township 20, Range 19, all sections; excepting

      • (a) sections 5, 6, 7 and 8, the west half of section 4, the portion of the east half of section 4 lying west of Clear Lake Indian Reserve No. 61A and the southwest quarter of section 18;

      part fractional east half Section 4; fractional Section 9; fractional Section 10; fractional southwest quarter Section 15 and fractional southeast quarter Section 16;

      [...]

    • (11) in Township 20, Range 20, sections 13 to 36 inclusive;

    • (12) in Township 20, Range 21, all sections; excepting sections 6, 7 and 18;

    • (13) in Township 20, Range 22, sections 19 to 36 inclusive;

    • (14) in Township 21, Range 16, all sections; excepting

      • (a) sections 1, 12, 13, 22, 23, 24, 25, 26, 27, 32, 33, 34, 35 and 36;

      • (b) the south half and northeast quarter of Section 14 and the northeast quarters of sections 11, 28 and 31;

    • (15) in Township 21, Range 17, all sections;

    • (16) in Township 21, Range 18, all sections;

    • (17) in Township 21, Range 19, all sections;

    • (18) in Township 21, Range 20, all sections;

    • (19) in Township 21, Range 21, all sections;

    • (20) in Township 21, Range 22, all sections;

    • (21) in Township 21, Range 23, all sections;

    • (22) in Township 22, Range 17, sections 2 to 11 inclusive, 16, 17 and 18, the west halves of sections 1 and 12, the south halves of sections 14 and 15, and the southwest quarter of Section 13;

    • (23) in Township 22, Range 18, all sections;

    • (24) in Township 22, Range 19, all sections;

    • (25) in Township 22, Range 20, all sections;

    • (26) in Township 22, Range 21, all sections;

    • (27) in Township 22, Range 22, all sections;

    • (28) in Township 22, Range 23, all sections;

    • (29) in Township 22, Range 24, all sections;

    • (30) in Township 22, Range 25, all sections;

    • (31) in Township 22, Range 26, all sections; excepting the west halves of sections 6 and 7;

    • (32) in Township 23, Range 18, all sections; excepting sections 13, 21 to 28 inclusive, 31 to 36 inclusive, the north half and southeast quarter of Section 12 and the northeast quarter of Section 1;

    • (33) in Township 23, Range 19, all sections; excepting sections 31 to 36 inclusive;

    • (34) in Township 23, Range 20, all sections and fractional sections lying east and south of the Vermilion River; excepting the west half of Section 25 and sections 26, 35 and 36;

    • (35) in Township 23, Range 21, all sections; excepting sections 12, 13, 23 to 36 inclusive, and the north halves of sections 1 and 22;

    • (36) in Township 23, Range 22, all sections; excepting sections 25 to 36 inclusive;

    • (37) in Township 23, Range 23, all sections; excepting sections 25, and 31 to 36 inclusive;

    • (38) in the south half of Township 23, Range 24, all sections;

    • (39) in the south half of Township 23, Range 25, all sections;

    • (40) in Township 23, Range 26, sections 1 to 5 inclusive, and 8 to 17 inclusive;

      [...]

    [...]

    All theoretical section and township corners hereinafter are based on the North American Datum of 1927. All bearings are grid and are referred to Zone 15 of the Universal Transverse Mercator Grid System.

    [...]

    Thence westerly in a straight line to the theoretical North East corner of Section 33 in Township 94, Range 1;

    Thence northerly in a straight line to the theoretical North East corner of Section 33 in Township 104, Range 1;

    [...]

    The following 18 islands or parts thereof according to plan 2693 in said Records, being a plan showing Cape Hurd Islands compiled from surveys made by W.R. White, O.L.S., in 1936 and from information supplied by the Department of Marine, approved July 30, 1942:

    [...]

    Thence easterly along said southerly boundary to an iron post marked XLIII, the last aforesaid post being shown on a compiled plan approved and confirmed by Bruce Wallace Waugh, Surveyor General at Ottawa, on March 18, 1953, the last aforesaid plan being recorded as 41714 in said records, a copy of which was registered on May 4, 1953, in the said office;

    [...]

    All that parcel of land in the Province of Newfoundland and Labrador shown on a descriptive map plan prepared by the Department of Natural Resources, dated November 15, 2004 and recorded in the Crown Lands Registry Office in St. John’s, Newfoundland and Labrador, under number SP 367; a copy of the plan is attached as appendix D-1 to the Agreement, as defined in section 2 of the Labrador Inuit Land Claims Agreement Act; the parcel contains an area of approximately 9 700 square kilometres.

    [...]

    In Nunavut, all those lands situated on the northerly portion of Bathurst Island, adjacent to Polar Bear Pass National Wildlife Area, certain islands westerly of the northerly portion of Bathurst Island and all offshore islands in the Berkeley Group, more particularly described with reference to the following maps, produced at a scale of 1:250,000 by the Department of Energy, Mines and Resources, and the Army Survey Establishment, R.C.E :

    [...]

    Commencing at the northwest corner of Polar Bear Pass National Wildlife Area (SOR/86-985, 18 September, 1986);

    [...]


  2. Income Tax Act - R.S.C., 1985, c. 1 (5th Supp.) (Section 248)
    Marginal note:Definitions
    •  (1) In this Act,

      adjusted cost base

      adjusted cost base  has the meaning assigned by section 54; (prix de base rajusté)

      allowable business investment loss

      allowable business investment loss  has the meaning assigned by section 38; (perte déductible au titre d’un placement d’entreprise)

      allowable capital loss

      allowable capital loss  has the meaning assigned by section 38; (perte en capital déductible)

      amount

      amount  means money, rights or things expressed in terms of the amount of money or the value in terms of money of the right or thing, except that,

      • (a) notwithstanding paragraph (b), in any case where subsection 112(2.1), 112(2.2) or 112(2.4), or section 187.2 or 187.3 or subsection 258(3) or 258(5) applies to a stock dividend, the amount of the stock dividend is the greater of

        [...]

      • (b) in any case where section 191.1 applies to a stock dividend, the amount of the stock dividend for the purposes of Part VI.1 is the greater of

        [...]

      authorized foreign bank

      authorized foreign bank  has the meaning assigned by section 2 of the Bank Act; (banque étrangère autorisée)

      automobile

      automobile  means

      [...]

      • [...]

      • (d) except for the purposes of section 6, a motor vehicle acquired to be sold, rented or leased in the course of carrying on a business of selling, renting or leasing motor vehicles or a motor vehicle used for the purpose of transporting passengers in the course of carrying on a business of arranging or managing funerals, and

      balance-due day

      balance-due day  of a taxpayer for a taxation year means,

      • [...]

      • (d) where the taxpayer is a corporation,

        • (i) the day that is three months after the day on which the taxation year (in this subparagraph referred to as the “current year”) ends, if

          • (A) an amount was deducted under section 125 in computing the corporation’s tax payable under this Part for the current year or for its preceding taxation year,

      bank

      bank  means a bank within the meaning assigned by section 2 of the Bank Act (other than a federal credit union) or an authorized foreign bank; (banque)

      business

      business  includes a profession, calling, trade, manufacture or undertaking of any kind whatever and, except for the purposes of paragraph 18(2)(c), section 54.2, subsection 95(1) and paragraph 110.6(14)(f), an adventure or concern in the nature of trade but does not include an office or employment; (commerce)

      business limit

      business limit  of a corporation for a taxation year means the amount determined under section 125 to be its business limit for the year; (plafond des affaires)

      Canadian banking business

      Canadian banking business  means the business carried on by an authorized foreign bank through a permanent establishment (as defined by regulation) in Canada, other than business conducted through a representative office registered or required to be registered under section 509 of the Bank Act; (entreprise bancaire canadienne)

      Canadian partnership

      Canadian partnership  has the meaning assigned by section 102; (société de personnes canadienne)

      capital dividend

      capital dividend  has the meaning assigned by section 83; (dividende en capital)

      capital gain

      capital gain  for a taxation year from the disposition of any property has the meaning assigned by section 39; (gain en capital)

      capital loss

      capital loss  for a taxation year from the disposition of any property has the meaning assigned by section 39; (perte en capital)

      capital property

      capital property  has the meaning assigned by section 54; (immobilisation)

      designated stock exchange

      designated stock exchange  means a stock exchange, or that part of a stock exchange, for which a designation by the Minister of Finance under section 262 is in effect; (bourse de valeurs désignée)

      disposition

      disposition  of any property, except as expressly otherwise provided, includes

      • [...]

      • (b.1) where the property is an interest in a life insurance policy, a disposition within the meaning of section 148,

      [...]

      • [...]

      • (f) any transfer of the property as a consequence of which there is no change in the beneficial ownership of the property, where

        • [...]

        • (vi) if the transferor is an amateur athlete trust, a cemetery care trust, an employee trust, a trust deemed by subsection 143(1) to exist in respect of a congregation that is a constituent part of a religious organization, a related segregated fund trust (in this paragraph having the meaning assigned by section 138.1), a trust described in paragraph 149(1)(o.4) or a trust governed by an eligible funeral arrangement, an employees profit sharing plan, a registered disability savings plan, a registered education savings plan, a registered supplementary unemployment benefit plan or a TFSA, the transferee is the same type of trust, and

      eligible relocation

      eligible relocation  means a relocation of a taxpayer in respect of which the following apply:

      • (a) the relocation occurs to enable the taxpayer

        • (i) to carry on a business or to be employed at a location (in section 62 and this definition referred to as “the new work location”) that is, except if the taxpayer is absent from but resident in Canada, in Canada, or

        • (ii) to be a student in full-time attendance enrolled in a program at a post-secondary level at a location of a university, college or other educational institution (in section 62 and this definition referred to as “the new work location”),

      • (b) the taxpayer ordinarily resided before the relocation at a residence (in section 62 and this definition referred to as “the old residence”) and ordinarily resided after the relocation at a residence (in section 62 and this definition referred to as “the new residence”),

      employee benefit plan

      employee benefit plan  means an arrangement under which contributions are made by an employer or by any person with whom the employer does not deal at arm’s length to another person (in this Act referred to as the “custodian” of an employee benefit plan) and under which one or more payments are to be made to or for the benefit of employees or former employees of the employer or persons who do not deal at arm’s length with any such employee or former employee (other than a payment that, if section 6 were read without reference to subparagraph 6(1)(a)(ii) and paragraph 6(1)(g), would not be required to be included in computing the income of the recipient or of an employee or former employee), but does not include any portion of the arrangement that is

      [...]

      federal credit union

      federal credit union  has the meaning assigned by section 2 of the Bank Act; (coopérative de crédit fédérale)

      foreign accrual property income

      foreign accrual property income  has the meaning assigned by section 95; (revenu étranger accumulé, tiré de biens)

      grandfathered share

      grandfathered share  means

      • (a) a share of the capital stock of a corporation issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 pursuant to an agreement in writing entered into before that time,

      • (b) a share of the capital stock of a corporation issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 and before 1988 as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice filed before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 with a public authority pursuant to and in accordance with the securities legislation of the jurisdiction in which the shares are distributed,

      • (c) a share (in this paragraph referred to as the “new share”) of the capital stock of a corporation that is issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 in exchange for

        • (i) a share of a corporation that was issued before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 or is a grandfathered share, or

        • (ii) a debt obligation of a corporation that was

          • (A) issued before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, or

          • (B) issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 under an agreement in writing entered into before that time, or after that time and before 1988 as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice filed before that time with a public authority under and in accordance with the securities legislation of the jurisdiction in which the debt obligation is distributed,

        [...]

      • (d) a share of a class of the capital stock of a Canadian corporation listed on a designated stock exchange that is issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 on the exercise of a right that

        [...]

      [...]

      gross revenue

      gross revenue  of a taxpayer for a taxation year means the total of

      • [...]

      • (b) all amounts (other than amounts referred to in paragraph (a)) included in computing the taxpayer’s income from a business or property for the year because of subsection 12(3) or (4) or section 12.2 of this Act or subsection 12(8) of the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952; (revenu brut)

      income-averaging annuity contract

      income-averaging annuity contract  of an individual means, except for the purposes of section 61, a contract

      • [...]

      • (b) in respect of which the individual has made a deduction under section 61 in computing the individual’s income for a taxation year; (contrat de rente à versements invariables)

      limited-recourse amount

      limited-recourse amount  means an amount that is a limited-recourse amount under section 143.2; (montant à recours limité)

      listed personal property

      listed personal property  has the meaning assigned by section 54; (biens meubles déterminés)

      oil or gas well

      oil or gas well  means any well (other than an exploratory probe or a well drilled from below the surface of the earth) drilled for the purpose of producing petroleum or natural gas or of determining the existence, location, extent or quality of a natural accumulation of petroleum or natural gas, but, for the purpose of applying sections 13 and 20 and any regulations made for the purpose of paragraph 20(1)(a) in respect of property acquired after March 6, 1996, does not include a well for the extraction of material from a deposit of bituminous sands or oil shales; (puits de pétrole ou de gaz)

      OSFI risk-weighting guidelines

      OSFI risk-weighting guidelines  means the guidelines, issued by the Superintendent of Financial Institutions under the authority of section 600 of the Bank Act, requiring an authorized foreign bank to provide to the Superintendent on a periodic basis a return of the bank’s risk-weighted on-balance sheet assets and off-balance sheet exposures, that apply as of August 8, 2000; (lignes directrices du BSIF sur la pondération des risques)

      passenger vehicle

      passenger vehicle  means an automobile

      • (a) acquired after June 17, 1987, other than an automobile that is acquired after that date pursuant to an obligation in writing entered into before June 18, 1987 or that is a zero-emission vehicle, or

      personal-use property

      personal-use property  has the meaning assigned by section 54; (biens à usage personnel)

      private foundation

      private foundation  has the meaning assigned by section 149.1; (fondation privée)

      private health services plan

      private health services plan  means

      [...]

      • (c) a law of a province that establishes a health care insurance plan as defined in section 2 of the Canada Health Act, or

      public foundation

      public foundation  has the meaning assigned by section 149.1; (fondation publique)

      registered charity

      registered charity  at any time means

      • [...]

      • (b) a branch, section, parish, congregation or other division of an organization or foundation described in paragraph (a), that is resident in Canada and was either created or established in Canada and that receives donations on its own behalf,

      [...]

      relevant factor

      relevant factor  means

      • [...]

      • (b) for taxation years that end after 2009, the amount determined by the formula

        1/(A – B)

        where

        B 
        is the percentage that is the corporation’s general rate reduction percentage (as defined by section 123.4) for the taxation year; (facteur de référence)
      salary or wages

      salary or wages , except in sections 5 and 63 and the definition death benefit in this subsection, means the income of a taxpayer from an office or employment as computed under Subdivision A of Division B of Part I and includes all fees received for services not rendered in the course of the taxpayer’s business but does not include superannuation or pension benefits or retiring allowances; (traitement ou salaire)

      SIFT partnership

      SIFT partnership  has the meaning assigned by section 197; (société de personnes intermédiaire de placement déterminée)

      SIFT partnership balance-due day

      SIFT partnership balance-due day , in respect of a taxation year of a SIFT partnership, means the day on or before which the partnership is required to file a return for the taxation year under section 229 of the Income Tax Regulations; (date d’échéance du solde)

      SIFT trust

      SIFT trust  has the meaning assigned by section 122.1; (fiducie intermédiaire de placement déterminée)

      SIFT trust wind-up event

      SIFT trust wind-up event  means a distribution by a particular trust resident in Canada of property to a taxpayer in respect of which the following conditions are met:

      • [...]

      • (c) the particular trust is

        • [...]

        • (iii) a trust whose only beneficiary at the time of distribution is another trust that throughout the qualifying period

          • [...]

          • (C) is a majority interest beneficiary (within the meaning that would be assigned by section 251.1 if the references in the definition majority interest beneficiary in subsection 251.1(3) to “50%” were read as references to “25%”) of the particular trust,

      • [...]

      • (e) the property was not acquired by the particular trust as a result of a transfer or an exchange

        • [...]

        • (ii) to which any of sections 51, 85, 85.1, 86, 87, 88, 107.4 or 132.2 applies, of another property acquired as a result of a transfer or an exchange described by subparagraph (i) or this subparagraph; (fait lié à la conversion d’une EIPD-fiducie)

      specified mutual fund trust

      specified mutual fund trust , at any time, means a mutual fund trust other than a mutual fund trust for which it can reasonably be considered, having regard to all the circumstances, including the terms and conditions of the units of the trust, that the total of all amounts each of which is the fair market value, at that time, of a unit issued by the trust and held by a person exempt from tax under section 149 is all or substantially all of the total of all amounts each of which is the fair market value, at that time, of a unit issued by the trust; (fiducie de fonds commun de placement déterminée)

      tar sands

      tar sands  means bituminous sands or oil shales extracted, otherwise than by a well, from a mineral resource, but, for the purpose of applying sections 13 and 20 and any regulations made for the purpose of paragraph 20(1)(a) in respect of property acquired after March 6, 1996, includes material extracted by a well from a deposit of bituminous sands or oil shales; (sables asphaltiques)

      taxable Canadian property

      taxable Canadian property  of a taxpayer at any time in a taxation year means a property of the taxpayer that is

      [...]

      and, for the purposes of section 2, subsection 107(2.001) and sections 128.1 and 150, and for the purpose of applying paragraphs 85(1)(i) and 97(2)(c) to a disposition by a non-resident person, includes

      [...]

      taxable capital gain

      taxable capital gain  has the meaning assigned by section 38; (gain en capital imposable)

      taxable net gain

      taxable net gain  from dispositions of listed personal property has the meaning assigned by section 41; (gain net imposable)

      taxable preferred share

      taxable preferred share  at any particular time means

      • [...]

      • (b) a share (other than a grandfathered share) of the capital stock of a corporation issued after 8:00 p.m Eastern Daylight Saving Time, June 18, 1987 where, at that particular time by reason of the terms or conditions of the share or any agreement in respect of the share or its issue to which the corporation, or a specified person in relation to the corporation, is a party,

        • [...]

        • (iv) any person (other than the corporation) was, at or immediately before that particular time, obligated, either absolutely or contingently, and either immediately or in the future, to effect any undertaking (in this subparagraph referred to as a “guarantee agreement”), including any guarantee, covenant or agreement to purchase or repurchase the share, and including the lending of funds to or the placing of amounts on deposit with, or on behalf of, the shareholder or any specified person in relation to the shareholder given

          [...]

          and the guarantee agreement was given as part of a transaction or event or a series of transactions or events that included the issuance of the share and, for the purposes of this paragraph, where a guarantee agreement in respect of a share is given at any particular time after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, otherwise than pursuant to a written arrangement to do so entered into before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, the share shall be deemed to have been issued at the particular time and the guarantee agreement shall be deemed to have been given as part of a series of transactions that included the issuance of the share,

      [...]

      • (c) the dividend entitlement of a share of the capital stock of a corporation shall be deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all dividends on the share are determined solely by reference to the dividend entitlement of another share of the capital stock of the corporation or of another corporation that controls the corporation that would not be a taxable preferred share if

        • [...]

        • (ii) the other share were issued after June 18, 1987, and

      • (d) the liquidation entitlement of a share of the capital stock of a corporation shall be deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all the liquidation entitlement is determinable solely by reference to the liquidation entitlement of another share of the capital stock of the corporation or of another corporation that controls the corporation that would not be a taxable preferred share if

        • [...]

        • (ii) the other share were issued after June 18, 1987, and

      • (e) where at any particular time after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, otherwise than pursuant to a written arrangement to do so entered into before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, the terms or conditions of a share of the capital stock of a corporation that are relevant to any matter referred to in any of subparagraphs (b)(i) to (b)(iv) are established or modified or any agreement in respect of any such matter, to which the corporation or a specified person in relation to the corporation is a party, is changed or entered into, the share shall, for the purpose of determining after the particular time whether it is a taxable preferred share, be deemed to have been issued at that particular time, unless

        [...]

      taxable RFI share

      taxable RFI share  at any particular time means a share of the capital stock of a corporation issued before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 or a grandfathered share of the capital stock of a corporation, where at the particular time under the terms or conditions of the share or any agreement in respect of the share,

      [...]

      • (c) the dividend entitlement of a share of the capital stock of a corporation shall be deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all dividends on the share are determined solely by reference to the dividend entitlement of another share of the capital stock of the corporation or of another corporation that controls the corporation that would not be a taxable preferred share if

        • [...]

        • (ii) the other share were issued after June 18, 1987, and

      • (d) the liquidation entitlement of a share of the capital stock of a corporation shall be deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all the liquidation entitlement is determinable solely by reference to the liquidation entitlement of another share of the capital stock of the corporation or of another corporation that controls the corporation that would not be a taxable preferred share if

        • [...]

        • (ii) the other share were issued after June 18, 1987, and

      tax-indifferent investor

      tax-indifferent investor , at any time, means a person or partnership that is at that time

      • (a) a person exempt from tax under section 149,

      • (b) a non-resident person, other than a person to which all amounts paid or credited under a derivative forward agreement, a synthetic equity arrangement or a specified synthetic equity arrangement, as the case may be, may reasonably be attributed to the business carried on by the person in Canada through a permanent establishment (as defined in section 8201 of the Income Tax Regulations) in Canada,

      term preferred share

      term preferred share  of a corporation (in this definition referred to as the issuing corporation) means a share of a class of the capital stock of the issuing corporation if the share was issued or acquired after June 28, 1982 and, at the time the share was issued or acquired, the existence of the issuing corporation was, or there was an arrangement under which it could be, limited or, in the case of a share issued after November 16, 1978 if

      [...]

      • [...]

      • (f.1) that is a taxable preferred share held by a specified financial institution that acquired the share

        [...]

        other than a share deemed by paragraph (c) of the definition short-term preferred share in this subsection or by paragraph (i.2) to have been issued after December 15, 1987 or a share that would be deemed by paragraph (e) of the definition taxable preferred share in this subsection to have been issued after December 15, 1987 if the references therein to “8:00 p.m. Eastern Daylight Saving Time, June 18, 1987” were read as references to “December 15, 1987”,

      [...]

      Treasury Board

      Treasury Board  means the Treasury Board established by section 5 of the Financial Administration Act; (Conseil du Trésor)

      zero-emission vehicle

      zero-emission vehicle , of a taxpayer, means a motor vehicle that

      • [...]

      • (b) is acquired, and becomes available for use, by the taxpayer after March 18, 2019 and before 2028,

    • Marginal note:Non-disposition before December 24, 1998

      (1.1) A redemption, an acquisition or a cancellation, at any particular time after 1971 and before December 24, 1998, of a share or of a right to acquire a share (which share or which right, as the case may be, is referred to in this subsection as the “security”) of the capital stock of a corporation (referred to in this subsection as the “issuing corporation”) held by another corporation (referred to in this subsection as the “disposing corporation”) is not a disposition (within the meaning of the definition disposition in section 54 as that section read in its application to transactions and events that occurred at the particular time) of the security if

      [...]

    • [...]

    • Marginal note:Compound interest

      (11) Interest computed at a prescribed rate under any of subsections 129(2.1) and (2.2), 131(3.1) and (3.2), 132(2.1) and (2.2), 133(7.01) and (7.02), 159(7), 160.1(1), 161(1), (2) and (11), 161.1(5), 164(3) to (4), 181.8(1) and (2) (as those two subsections read in their application to the 1991 and earlier taxation years), 185(2), 187(2) and 189(7), section 190.23 (as it read in its application to the 1991 and earlier taxation years) and subsections 193(3), 195(3), 202(5) and 227(8.3), (9.2) and (9.3) of this Act and subsection 182(2) of the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952 (as that subsection read in its application to taxation years beginning before 1986) and subsection 191(2) of that Act (as that subsection read in its application to the 1984 and earlier taxation years) shall be compounded daily and, where interest is computed on an amount under any of those provisions and is unpaid or unapplied on the day it would, but for this subsection, have ceased to be computed under that provision, interest at the prescribed rate shall be computed and compounded daily on the unpaid or unapplied interest from that day to the day it is paid or applied and shall be paid or applied as would be the case if interest had continued to be computed under that provision after that day.

    • [...]

    • Marginal note:Interests in trusts and partnerships

      (13) Where after November 12, 1981 a person has an interest in a trust or partnership, whether directly or indirectly through an interest in any other trust or partnership or in any manner whatever, the person shall, for the purposes of the definitions income bond, income debenture and term preferred share in subsection 248(1), paragraph (h) of the definition taxable preferred share in that subsection, subsections 84(4.2) and 84(4.3) and 112(2.6) and section 258, be deemed to be a beneficiary of the trust or a member of the partnership, as the case may be.

    • [...]

    • (16.1) For the purpose of this Act, other than this subsection and subsection 6(8), an amount claimed by a taxpayer as an input tax refund or a rebate with respect to the Quebec sales tax in respect of a property or service is deemed to be assistance from a government in respect of the property or service that is received by the taxpayer

      • (a) where the amount was claimed by the taxpayer as an input tax refund in a return under An Act respecting the Québec sales tax, R.S.Q., c. T-0.1, for a reporting period under that Act,

        • (i) at the particular time that is the earlier of the time that the Quebec sales tax in respect of the input tax refund was paid and the time that it became payable,

          • [...]

          • (B) if,

            • (I) the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is greater than $500,000 for the taxpayer’s fiscal year (within the meaning assigned by that Act) that includes the particular time, and

        • (ii) at the end of the reporting period, if

          • [...]

          • (B) the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is $500,000 or less for the fiscal year (within the meaning assigned by that Act) of the taxpayer that includes the particular time, and

    • [...]

    • Marginal note:Application of subsection (16.1) to certain vehicles and aircraft

      (17.1) If the input tax refund of a taxpayer under An Act respecting the Québec sales tax, R.S.Q., c. T-0.1, in respect of a passenger vehicle, zero-emission passenger vehicle or aircraft is determined with reference to section 252 of that Act, subparagraphs (16.1)(a)(i) to (iii) are to be read as they apply in respect of the vehicle or aircraft, as the case may be, as follows:

      [...]

    • [...]

    • Marginal note:Quebec input tax refund on assessment

      (17.3) An amount in respect of an input tax refund that is deemed by section 30.5 of the Tax Administration Act, R.S.Q., c. A-6.002, to have been claimed is deemed to have been so claimed for the reporting period under An Act respecting the Québec sales tax, R.S.Q., c. T-0.1, that includes the day on which an assessment is issued to the taxpayer indicating that the refund has been allocated under that section 30.5.

    • Marginal note:Goods and services tax — repayment of input tax credit

      (18) For the purposes of this Act, where an amount is added at a particular time in determining the net tax of a taxpayer under Part IX of the Excise Tax Act in respect of an input tax credit relating to property or a service that had been previously deducted in determining the net tax of the taxpayer, that amount shall be deemed to be assistance repaid at the particular time in respect of the property or service pursuant to a legal obligation to repay all or part of that assistance.

    • [...]

    • Marginal note:Farming or fishing business

      (29) For the purposes of subsection 40(1.1) and sections 70, 73 and 110.6, if at any time a person or partnership carries on a farming business and a fishing business, a property used at that time principally in a combination of the activities of the farming business and the fishing business is deemed to be used at that time principally in the course of carrying on a farming or fishing business.

    • [...]

    • (34) If at any time in a taxation year a taxpayer has paid an amount (in this subsection referred to as the “repaid amount”) on account of the principal amount of an indebtedness which was, before that time, an unpaid principal amount that was a limited-recourse debt referred to in subsection 143.2(6.1) (in this subsection referred to as the “former limited-recourse debt”) in respect of a gift or monetary contribution (in this subsection referred to as the “original gift” or “original monetary contribution”, respectively, as the case may be) of the taxpayer (otherwise than by way of an assignment or transfer of a guarantee, security or similar indemnity or covenant, or by way of a payment in respect of which any taxpayer referred to in subsection 143.2(6.1) has incurred an indebtedness that would be a limited-recourse debt referred to in that subsection if that indebtedness were in respect of a gift or monetary contribution made at the time that that indebtedness was incurred), the following rules apply:

      • (a) if the former limited-recourse debt is in respect of the original gift, for the purposes of sections 110.1 and 118.1, the taxpayer is deemed to have made in the taxation year a gift to a qualified donee, the eligible amount of which deemed gift is the amount, if any, by which

        [...]

    • [...]

    • (39) If a taxpayer disposes of a property (in this subsection referred to as the substantive gift) that is a capital property of the taxpayer, to a recipient that is a registered party, a registered association or a candidate, as those terms are defined in the Canada Elections Act, or that is a qualified donee, subsection (35) would have applied in respect of the substantive gift if it had been the subject of a gift by the taxpayer to a qualified donee, and all or a part of the proceeds of disposition of the substantive gift are (or are substituted, directly or indirectly in any manner whatever, for) property that is the subject of a gift or monetary contribution by the taxpayer to the recipient or any person dealing not at arm’s length with the recipient, the following rules apply:

      • [...]

      • (b) if the substantive gift is capital property of the taxpayer, for the purpose of the definitions proceeds of disposition of property in subsection 13(21) and section 54, the sale price of the substantive gift is to be reduced by the amount by which the fair market value of the property that is the subject of the gift (determined without reference to this section) exceeds the fair market value determined under paragraph (a).

    R.S., 1985, c. 1 (5th Supp.), s. 248; 1994, c. 7, Sch. II, s. 192, Sch. V, s. 90, Sch. VIII, ss. 139, c. 8, s. 32, c. 21, ss. 109, 138, c. 41, s. 37; 1995, c. 3, s. 52, c. 21, ss. 43, 47, 59, 65, 74; 1996, c. 21, s. 60; 1997, c. 25, s. 71; 1998, c. 19, ss. 66, 239; 1999, c. 22, s. 80; 2000, c. 12, ss. 139, 142, c. 19, s. 67; 2001, c. 17, ss. 188, 230; 2002, c. 9, s. 44; 2003, c. 15, s. 88, c. 28, s. 18; 2005, c. 30, s. 17; 2007, c. 2, s. 52, c. 29, s. 28, c. 35, ss. 65, 68, 123; 2008, c. 28, s. 34; 2009, c. 2, s. 76; 2010, c. 12, ss. 22, 2109, c. 25, s. 69; 2011, c. 24, s. 72; 2012, c. 31, s. 55; 2013, c. 34, ss. 167, 358, c. 40, s. 89; 2014, c. 13, s. 115, c. 20, s. 30, c. 39, s. 71; 2016, c. 7, s. 48, c. 11, s. 10, c. 12, s. 63; 2017, c. 33, s. 77; 2018, c. 12, s. 37; 2019, c. 29, s. 43; 2021, c. 23, s. 61; 2022, c. 19, s. 57; 2023, c. 26, s. 73.

  3. Income Tax Act - R.S.C., 1985, c. 1 (5th Supp.) (Section 138)
    Marginal note:Insurance corporations
    •  (1) It is hereby declared that a corporation, whether or not it is a mutual corporation, that has, in a taxation year, been a party to insurance contracts or other arrangements or relationships of a particular class whereby it can reasonably be regarded as undertaking

      [...]

      • [...]

      • (d) the income shall, except as otherwise provided in this section, be computed in accordance with the rules applicable in computing income for the purposes of this Part,

    • [...]

    • Marginal note:Insurance swaps

      (2.2) For the purposes of this section, one or more risks insured by a life insurer resident in Canada, as part of an insurance business carried on in a country other than Canada, that would not be specified Canadian risks if this Act were read without reference to this subsection, are deemed to be specified Canadian risks if those risks would be deemed to be specified Canadian risks because of paragraph 95(2)(a.21) if the life insurer were a foreign affiliate of a taxpayer.

    • [...]

    • Marginal note:Anti-avoidance

      (2.6) For the purposes of this section,

      [...]

    • (3) In computing a life insurer’s income for a taxation year from carrying on its life insurance business in Canada, there may be deducted

      • (a) such of the following amounts as are applicable:

        • [...]

        • (v) each amount (other than an amount credited under a participating life insurance policy) that would be deductible under section 140 in computing the insurer’s income for the year if the reference in that section to “an insurance business other than a life insurance business” were read as a reference to “a life insurance business in Canada”;

    • [...]

    • (4.5) Where a life insurer transfers or lends property, directly or indirectly in any manner whatever, to a person or partnership (in this subsection referred to as the “transferee”) that is affiliated with the insurer or a person or partnership that does not deal at arm’s length with the insurer and

      [...]

      • [...]

      • (e) an amount included in the insurer’s income for the year under subsection 138(4.4) by reason of the application of this subsection shall

        • [...]

        • (ii) where the insurer and the transferee have jointly elected in prescribed form on or before the day that is the earliest of the days on or before which any taxpayer making the election is required to file a return pursuant to section 150 for the taxation year that includes the period, be added in computing

          [...]

    • [...]

    • Marginal note:Deduction for dividends from taxable corporations

      (6) In computing the taxable income of a life insurer for a taxation year, no deduction from the income of the insurer for the year may be made under section 112 but, except as otherwise provided by that section, there may be deducted from that income the total of taxable dividends (other than dividends on term preferred shares that are acquired in the ordinary course of the business carried on by the life insurer) included in computing the insurer’s income for the year and received by the insurer in the year from taxable Canadian corporations.

    • [...]

    • Marginal note:No deduction for foreign tax

      (8) No deduction shall be made under section 126 from the tax payable under this Part for a taxation year by a life insurer resident in Canada in respect of such part of an income or profits tax as can reasonably be attributable to income from its insurance business.

    • [...]

    • Marginal note:Application of financial institution rules

      (10) Notwithstanding sections 142.3, 142.4, 142.5 and 142.51, where in a taxation year an insurer (other than an insurer resident in Canada that does not carry on a life insurance business) carries on an insurance business in Canada and in a country other than Canada, in computing its income for the year from carrying on an insurance business in Canada,

      • (a) sections 142.3, 142.5 and 142.51 apply only in respect of property that is designated insurance property for the year in respect of the business; and

      • (b) section 142.4 applies only in respect of the disposition of property that, for the taxation year in which the insurer disposed of it, was designated insurance property in respect of the business.

    • [...]

    • Marginal note:Identical properties

      (11.1) For the purpose of section 47, any property of a life insurance corporation that would, but for this subsection, be identical to any other property of the corporation is deemed not to be identical to the other property unless both properties are

      [...]

    • [...]

    • (11.5) Where

      [...]

      • [...]

      • (j) for the purpose of determining the income of the transferor and the transferee for their taxation years following their taxation years referred to in paragraph (h), amounts deducted by the transferor as reserves under subparagraph (3)(a)(i) and paragraphs 20(1)(l) and (l.1) and 20(7)(c) of this Act and section 33 and paragraph 138(3)(c) of the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, in its taxation year referred to in paragraph (h) in respect of the transferred property referred to in paragraph (b) or the obligations referred to in paragraph (c) are deemed to have been deducted by the transferee, and not the transferor, for its taxation year referred to in paragraph (h),

      • [...]

      • (k) for the purposes of this section, sections 12, 12.4, 20, 138.1, 140 and 142, paragraphs 142.4(4)(c) and (d), section 148 and Part XII.3, the transferee is, in its taxation years following its taxation year referred to in paragraph (h), deemed to be the same person as, and a continuation of, the transferor in respect of the business referred to in paragraph (a), the transferred property referred to in paragraph (b) and the obligations referred to in paragraph (c),

    • Marginal note:Time of election

      (11.6) Any election under subsection 138(11.5) shall be made on or before the day that is the earliest of the days on or before which any taxpayer making the election is required to file a return of income pursuant to section 150 for the taxation year in which the transactions to which the election relates occurred.

    • [...]

    • (11.8) Where

      [...]

      for the purposes of sections 13 and 20 and any regulations made under paragraph 20(1)(a), the following rules apply:

      [...]

    • [...]

    • (11.92) Where, at any time in a taxation year, an insurer (in this subsection referred to as the “vendor”) has disposed of

      [...]

      • [...]

      • (e) where the vendor has disposed of all or substantially all of an insurance business referred to in paragraph 138(11.92)(a), the vendor shall, for the purposes of section 219, be deemed to have ceased to carry on that business at that time.

    • (11.93) Where, at any time in a taxation year of an insurer, the beneficial ownership of property is acquired or reacquired by the insurer in consequence of the failure to pay all or any part of an amount (in this subsection referred to as the “insurer’s claim”) owing to the insurer at that time in respect of a bond, debenture, mortgage, hypothecary claim, agreement of sale or any other form of indebtedness owned by the insurer, the following rules apply to the insurer:

      • (a) section 79.1 does not apply in respect of the acquisition or reacquisition;

    • [...]

    • Marginal note:Definitions

      (12) In this section,

      reserve transition amount

      reserve transition amount  of an insurer, in respect of an insurance business carried on by it in its transition year, means the positive or negative amount determined by the formula

      A + B − C − D − E − F + G + H

      where

      A 
      is the maximum amount that the insurer would be permitted to claim under subparagraph (3)(a)(i) for its base year in respect of a policy reserve for its groups of life insurance contracts in Canada at the end of the base year if
      • [...]

      • (b) sections 1404 and 1406 of the Income Tax Regulations were read in respect of the insurer’s base year as they read in respect of its transition year,

      B 
      is the maximum amount that the insurer would be permitted to claim under paragraph 20(7)(c) for its base year in respect of a policy reserve for its groups of insurance contracts at the end of the base year if
      • [...]

      • (b) sections 1400 and 1402 of the Income Tax Regulations were read in respect of the insurer’s base year as they read in respect of its transition year,

      E 
      is the amount that would be included under paragraph (4)(b) in computing the insurer’s income for its base year in respect of its groups of life insurance contracts in Canada at the end of the base year if
      • [...]

      • (b) sections 1404 and 1406 of the Income Tax Regulations were read in respect of the insurer’s base year as they read in respect of its transition year,

      F 
      is the amount that would be included under paragraph 12(1)(e.1) in computing the insurer’s income for its base year if
      • [...]

      • (b) sections 1400 and 1402 of the Income Tax Regulations were read in respect of the insurer’s base year as they read in respect of its transition year,

    • [...]

    • Marginal note:IFRS reference

      (12.2) Except as otherwise provided, references to International Financial Reporting Standards in this section refer to the International Financial Reporting Standards adopted by the Accounting Standards Board and effective for years that begin on or after January 1, 2023.

    • [...]

    • Marginal note:Definition not to apply

      (15) In this section, in construing the meaning of the expression group term insurance policy , the definition group term life insurance policy in subsection 248(1) does not apply.

    • [...]

    • Marginal note:IFRS transition — reversals

      (17.1) In applying subsections (18) and (19) to an insurer for a taxation year of the insurer in respect of International Financial Reporting Standards,

      • [...]

      • (b) the description of D in the definition reserve transition amount in subsection (12) is to be read as follows:

        D 
        is the amount determined by the formula

        D.1 − D.2

        where

        D.2 
        is the amount of policy acquisition costs of the insurer that is not deductible, but in the absence of subsection 18(9.02) (as it read in the base year) would have been deductible, in the base year or a preceding taxation year;
    • Marginal note:Transition year income inclusion reversal

      (18) If an amount has been included under subsection (16) in computing an insurer’s income for its transition year from an insurance business carried on by it, there shall be deducted in computing the insurer’s income, for each particular taxation year of the insurer that ends after the beginning of the transition year, from that insurance business, the amount determined by the formula

      [...]

    • [...]

    • Marginal note:Winding-up

      (20) If an insurer has, in a winding-up to which subsection 88(1) has applied, been wound-up into another corporation (referred to in this subsection as the “parent”), and immediately after the winding-up the parent carries on an insurance business, in applying subsections (18) and (19) in computing the income of the insurer and of the parent for particular taxation years that end on or after the first day (referred to in this subsection as the “start day”) on which assets of the insurer were distributed to the parent on the winding-up,

      • (a) the parent is, on and after the start day, deemed to be the same corporation as and a continuation of the insurer in respect of

        • [...]

        • (ii) any amount deducted under subsection (18) or included under subsection (19) in computing the insurer’s income from an insurance business for a taxation year of the insurer that begins before the start day, and

        • (iii) any amount that would — in the absence of this subsection and if the insurer existed and carried on an insurance business on each day that is the start day or a subsequent day and on which the parent carries on an insurance business — be required to be deducted or included, in respect of any of those days, under subsection (18) or (19) in computing the insurer’s income from an insurance business; and

      • (b) the insurer is, in respect of each of its particular taxation years, to determine the value for B in the formulas in subsections (18) and (19) without reference to the start day and days after the start day.

    • Marginal note:Amalgamations

      (21) If there is an amalgamation (within the meaning assigned by subsection 87(1)) of an insurer with one or more other corporations to form one corporation (referred to in this subsection as the “new corporation”), and immediately after the amalgamation the new corporation carries on an insurance business, in applying subsections (18) and (19) in computing the income of the new corporation for particular taxation years of the new corporation that begin on or after the day on which the amalgamation occurred, the new corporation is, on and after that day, deemed to be the same corporation as and a continuation of the insurer in respect of

      • [...]

      • (b) any amount deducted under subsection (18) or included under subsection (19) in computing the insurer’s income from an insurance business for a taxation year that begins before the day on which the amalgamation occurred; and

      • (c) any amount that would — in the absence of this subsection and if the insurer existed and carried on an insurance business on each day that is the day on which the amalgamation occurred or a subsequent day and on which the new corporation carries on an insurance business — be required to be deducted or included, in respect of any of those days, under subsection (18) or (19) in computing the insurer’s income from an insurance business.

    • [...]

    • (23) If this subsection applies in respect of the transfer, at any time, of property

      • (a) the transferee is, at and after that time, deemed to be the same corporation as and a continuation of the transferor in respect of

        • [...]

        • (ii) any amount deducted under subsection (18) or included under subsection (19) in computing the transferor’s income for a taxation year of the transferor that begins before that time that can reasonably be attributed to the transferred business, and

        • (iii) any amount that would — in the absence of this subsection and if the transferor existed and carried on an insurance business on each day that includes that time or is a subsequent day and on which the transferee carries on an insurance business — be required to be deducted or included, in respect of any of those days, under subsection (18) or (19) in computing the transferor’s income that can reasonably be attributed to the transferred business; and

      • (b) in determining, in respect of the day that includes that time or any subsequent day, any amount that is required under subsection (18) or (19) to be deducted or included in computing the transferor’s income for each particular taxation year from the transferred business, the description of A in the formulas in those subsections is deemed to be nil.

    • (24) If at any time an insurer ceases to carry on all or substantially all of an insurance business (referred to in this subsection as the “discontinued business”), and none of subsections (20) to (22) apply,

      • (a) there shall be deducted, in computing the insurer’s income from the discontinued business for the insurer’s taxation year that includes the time that is immediately before that time, the amount determined by the formula

        A − B

        where

        B 
        is the total of all amounts each of which is an amount deducted under subsection (18) in computing the insurer’s income from the discontinued business for a taxation year that began before that time; and

    [...]


  4. Income Tax Act - R.S.C., 1985, c. 1 (5th Supp.) (Section 127)
    Marginal note:Logging tax deduction
    •  (1) There may be deducted from the tax otherwise payable by a taxpayer under this Part for a taxation year an amount equal to the lesser of

      [...]

      except that in no case shall the total of amounts in respect of all provinces that would otherwise be deductible under this subsection from the tax otherwise payable under this Part for the year by the taxpayer exceed 6 2/3% of the amount that would be the taxpayer’s taxable income for the year or taxable income earned in Canada for the year, as the case may be, if this Part were read without reference to paragraphs 60(b), 60(c) to 60(c.2), 60(i) and 60(v) and sections 62, 63 and 64.

    • [...]

    • (5) There may be deducted from the tax otherwise payable by a taxpayer under this Part for a taxation year an amount not exceeding the lesser of

      • [...]

      • (b) where Division E.1 applies to the taxpayer for the year, the amount, if any, by which

        [...]

        • (ii) the taxpayer’s minimum amount for the year determined under section 127.51.

    • [...]

    • Marginal note:Investment tax credit of certain trusts

      (7) If, in a particular taxation year of a taxpayer who is a beneficiary under a trust that is a graduated rate estate or that is deemed to be in existence by section 143, an amount is determined in respect of the trust under paragraph (a), (a.1), (a.4), (b) or (e.1) of the definition investment tax credit in subsection (9) for its taxation year that ends in that particular taxation year, the trust may, in its return of income for its taxation year that ends in that particular taxation year, designate the portion of that amount that can, having regard to all the circumstances including the terms and conditions of the trust, reasonably be considered to be attributable to the taxpayer and was not designated by the trust in respect of any other beneficiary of the trust, and that portion is to be added in computing the investment tax credit of the taxpayer at the end of that particular taxation year and is to be deducted in computing the investment tax credit of the trust at the end of its taxation year that ends in that particular taxation year.

    • [...]

    • (8.1) Notwithstanding subsection (8), if a taxpayer is a limited partner of a partnership at the end of a fiscal period of the partnership, the amount, if any, determined under subsection (8) to be added in computing the taxpayer’s investment tax credit at the end of the taxpayer’s taxation year in which that fiscal period ends shall not exceed the lesser of

      • (a) the portion of the amount that would, if this section were read without reference to this subsection, be determined under subsection (8) to be the amount to be added in computing the taxpayer’s investment tax credit at the end of the taxpayer’s taxation year in which that fiscal period ends as is considered to have arisen because of the expenditure by the partnership of an amount equal to the taxpayer’s expenditure base (as determined under subsection (8.2) in respect of the partnership) at the end of that fiscal period, and

    • [...]

    • Marginal note:Idem

      (8.4) Notwithstanding subsection 127(8), where, pursuant to subsections 127(8) and 127(8.3) an amount would, but for this subsection, be required to be added in computing the investment tax credit of a taxpayer for a taxation year, where the taxpayer so elects in prescribed form and manner in the taxpayer’s return of income (other than a return of income filed under subsection 70(2) or 104(23), paragraph 128(2)(e) or subsection 150(4)) under this Part for the year, such portion of the amount as is elected by the taxpayer shall, for the purposes of this section, be deemed not to have been required by subsection 127(8) to have been added in computing the taxpayer’s investment tax credit at the end of the year.

    • [...]

    • Marginal note:Idem

      (9) In this section,

      contract payment

      contract payment  means

      • [...]

      • (b) an amount in respect of an expenditure of a current nature (within the meaning assigned by paragraph 37(8)(d)) of a taxpayer, other than a prescribed amount, payable by a Canadian government or municipality or other Canadian public authority or by a person exempt, because of section 149, from tax under this Part on all or part of the person’s taxable income for scientific research and experimental development to be performed for it or on its behalf; (paiement contractuel)

      eligible salary and wages

      eligible salary and wages  payable by a taxpayer to an eligible apprentice means the amount, if any, that is the salary and wages payable by the taxpayer to the eligible apprentice in respect of the first 24 months of the apprenticeship (other than a qualified expenditure incurred by the taxpayer in a taxation year, remuneration that is based on profits, bonuses, amounts described in section 6 or 7, and amounts deemed to be incurred by subsection 78(4)); (traitement et salaire admissibles)

      flow-through critical mineral mining expenditure

      flow-through critical mineral mining expenditure  of a taxpayer for a taxation year means an expense deemed by subsection 66(12.61) (or by subsection 66(18) as a consequence of the application of subsection 66(12.61) to the partnership, referred to in paragraph (c) of this definition, of which the taxpayer is a member) to be incurred by the taxpayer in the year

      [...]

      flow-through mining expenditure

      flow-through mining expenditure  of a taxpayer for a taxation year means an expense deemed by subsection 66(12.61) (or by subsection 66(18) as a consequence of the application of subsection 66(12.61) to the partnership, referred to in paragraph (c) of this definition, of which the taxpayer is a member) to be incurred by the taxpayer in the year

      [...]

      investment tax credit

      investment tax credit  of a taxpayer at the end of a taxation year means the amount, if any, by which the total of

      • [...]

      • (e.1) the total of all amounts each of which is the specified percentage of that part of a repayment made by the taxpayer in the year or in any of the 10 taxation years immediately preceding or the 3 taxation years immediately following the year that can reasonably be considered to be a repayment of government assistance, non-government assistance or a contract payment that reduced

        • [...]

        • (iv) a qualified expenditure incurred by the taxpayer under any of subsections 127(18) to 127(20),

      • (e.2) the total of all amounts each of which is the specified percentage of 1/4 of that part of a repayment made by the taxpayer in the year or in any of the 10 taxation years immediately preceding or the 3 taxation years immediately following the year that can reasonably be considered to be a repayment of government assistance, non-government assistance or a contract payment that reduced

        • [...]

        • (ii) a qualified expenditure incurred by the taxpayer under any of subsections 127(18) to 127(20),

        [...]

      [...]

      non-qualifying corporation

      non-qualifying corporation  at any time means

      • [...]

      • (c) a corporation that at that time is related for the purposes of section 181.5 to a corporation described in paragraph (b); (société non admissible)

      pre-production mining expenditure

      pre-production mining expenditure , of a taxable Canadian corporation for a taxation year, means the total of all amounts each of which is an expenditure incurred after 2002 by the taxable Canadian corporation in the taxation year that

      • [...]

      • (b) is not an expense that

        • [...]

        • (ii) is a member’s share of an expense incurred by a partnership unless the expense was deemed by subsection 66(18) to have been made or incurred at the end of the fiscal period of the partnership by the member and throughout the fiscal period of the partnership in which the expense was incurred

          [...]

      qualified expenditure

      qualified expenditure  incurred by a taxpayer in a taxation year means

      [...]

      • [...]

      • (h) an amount that would otherwise be a qualified expenditure incurred by the taxpayer in the year to the extent of any reduction in respect of the amount that is required under any of subsections 127(18) to 127(20) to be applied; (dépense admissible)

      qualified property

      qualified property , of a taxpayer, means property (other than a qualified resource property) that is

      [...]

      • [...]

      • (d) to be leased by the taxpayer to a lessee (other than a person exempt from tax under this Part because of section 149) who can reasonably be expected to use the property in Canada primarily for any of the purposes referred to in paragraph (c), but this paragraph does not apply to property that is prescribed for the purposes of paragraph (b) or (b.1) unless

        [...]

      qualified resource property

      qualified resource property , of a taxpayer, means property that is a prescribed building or prescribed machinery and equipment, that is acquired by the taxpayer after March 28, 2012, that has not been used, or acquired for use or lease, for any purpose whatever before it was acquired by the taxpayer and that is

      • [...]

      • (b) to be leased by the taxpayer to a lessee (other than a person exempt from tax under this Part because of section 149) who can reasonably be expected to use the property in Canada primarily for any of the purposes referred to in paragraph (a), but this paragraph does not apply to prescribed machinery and equipment unless

        [...]

      [...]

      specified percentage

      specified percentage  means

      • [...]

      • (e) in respect of a qualified expenditure

        • [...]

        • (ii) made by a taxpayer after November 16, 1978 and before the taxpayer’s taxation year that includes November 1, 1983 or made by the taxpayer in the taxpayer’s taxation year that includes November 1, 1983 or a subsequent taxation year if the taxpayer deducted an amount under section 37.1 in computing the taxpayer’s income for the year,

          • (A) where the expenditure was made by a Canadian-controlled private corporation in a taxation year of the corporation in which it is or would, if it had sufficient taxable income for the year, be entitled to a deduction under section 125 in computing its tax payable under this Part for the year, 25%, and

        • (iii) made by a taxpayer in the taxpayer’s taxation year that ends after October 31, 1983 and before January 1, 1985, other than a qualified expenditure in respect of which subparagraph (ii) is applicable,

          • (A) where the expenditure was made by a Canadian-controlled private corporation in a taxation year of the corporation in which it is or would, if it had sufficient taxable income for the year, be entitled to a deduction under section 125 in computing its tax payable under this Part for the year, 35%, and

      • [...]

      • (f.1) in respect of the repayment of government assistance, non-government assistance or a contract payment that reduced

        • (i) a qualified expenditure of a taxpayer under any of subsections (18) to (20), for the qualified expenditure incurred

          [...]

      super-allowance benefit amount

      super-allowance benefit amount  for a particular taxation year in respect of a corporation in respect of a province means the amount determined by the formula

      (A - B) × C

      where

      B 
      is the amount by which the amount of the expenditure exceeds the total of all amounts that would be required by subsections (18) to (20) to reduce the corporation’s qualified expenditures otherwise determined under this section if the definitions government assistance and non-government assistance did not apply to assistance provided under that law, and
    • [...]

    • (9.1) If a taxpayer is subject to a loss restriction event at any time (in this subsection referred to as “that time”) before the end of a taxation year of the taxpayer, the amount determined for the purposes of paragraph (j) of the definition investment tax credit in subsection (9) with respect to the taxpayer is the amount, if any, by which

      [...]

      • [...]

      • (d) that proportion of the amount that, but for subsections 127(3) and 127(5) and sections 126, 127.2 and 127.3, would be its tax payable under this Part for the year that,

        [...]

    • (9.2) If a taxpayer is subject to a loss restriction event at any time (in this subsection referred to as “that time”) after the end of a taxation year of the taxpayer, the amount determined for the purposes of paragraph (k) of the definition investment tax credit in subsection (9) is the amount, if any, by which

      [...]

      • [...]

      • (d) that proportion of the amount that, but for subsections 127(3) and 127(5) and sections 126, 127.2 and 127.3, would be its tax payable under this Part for the year that,

        [...]

    • [...]

    • (10.2) For the purpose of subsection (10.1), a particular corporation’s expenditure limit for a particular taxation year is the amount determined by the formula

      $3 million × ($40 million – A)/$40 million

      where

      A 
      is
      • (a) nil, if the following amount is less than or equal to $10 million:

        • (i) if the particular corporation is not associated with any other corporation in the particular taxation year, the amount that is its taxable capital employed in Canada (within the meaning assigned by section 181.2 or 181.3) for its immediately preceding taxation year, and

        • (ii) if the particular corporation is associated with one or more other corporations in the particular taxation year, the amount that is the total of all amounts, each of which is the taxable capital employed in Canada (within the meaning assigned by section 181.2 or 181.3) of the particular corporation for its, or of one of the other corporations for its, last taxation year that ended in the last calendar year that ended before the end of the particular taxation year, and

    • Marginal note:Expenditure limits — associated CCPCs

      (10.21) Notwithstanding subsection (10.2), the expenditure limit for a taxation year of a corporation that is associated in the taxation year with one or more other Canadian-controlled private corporations is, except as otherwise provided in this section, nil.

    • [...]

    • Marginal note:Expenditure limit determination in certain cases

      (10.6) Notwithstanding any other provision of this section,

      [...]

    • (10.7) Where a taxpayer has in a particular taxation year repaid an amount of government assistance, non-government assistance or a contract payment that was applied to reduce

      • [...]

      • (c) a qualified expenditure incurred by the taxpayer under any of subsections 127(18) to 127(20) for a preceding taxation year,

      [...]

      • (d) the amount that would have been determined under subsection 127(10.1) in respect of the taxpayer for that preceding year if subsections 127(11.1) and 127(18) to 127(20) had not applied in respect of the government assistance, non-government assistance or contract payment, as the case may be, to the extent of the amount so repaid,

      [...]

    • (10.8) For the purposes of paragraph (e.1) of the definition investment tax credit in subsection 127(9), subsection 127(10.7) and paragraph 37(1)(c), an amount of government assistance, non-government assistance or a contract payment that

      • (a) was applied to reduce

        • [...]

        • (iv) a qualified expenditure incurred by a taxpayer under any of subsections 127(18) to 127(20),

      [...]

    • [...]

    • (11.1) For the purposes of the definition investment tax credit in subsection 127(9),

      • (a) the capital cost to a taxpayer of a property shall be computed as if no amount were added thereto by virtue of section 21;

    • Marginal note:Time of acquisition

      (11.2) In applying subsections (5), (7) and (8), paragraphs (a) and (a.1) of the definition investment tax credit in subsection (9) and section 127.1, qualified property and qualified resource property are deemed not to have been acquired by a taxpayer before the property is considered to have become available for use by the taxpayer, determined without reference to paragraphs 13(27)(c) and (28)(d).

    • [...]

    • Marginal note:Idem

      (12.1) For the purposes of section 37, where, pursuant to a designation or an allocation from a trust or partnership, an amount is required by subsection 127(7) or 127(8) to be added in computing the investment tax credit of a taxpayer at the end of the taxpayer’s taxation year, the portion thereof that may reasonably be regarded as relating to expenditures of a current nature in respect of scientific research and experimental development that are qualified expenditures shall, at the end of the fiscal period of the trust or partnership, as the case may be, in respect of which the designation or allocation was made, reduce the total of such expenditures of a current nature as may be claimed by the trust or partnership in respect of scientific research and experimental development.

    • [...]

    • (14) Where

      [...]

      for the purposes of this section (other than the description of A in the definition SR&ED qualified expenditure pool in subsection 127(9)) and section 127.1,

      [...]

    • [...]

    • Marginal note:Reduction of qualified expenditures

      (18) Where on or before the filing-due date for a taxation year of a person or partnership (referred to in this subsection as the “taxpayer”) the taxpayer has received, is entitled to receive or can reasonably be expected to receive a particular amount that is government assistance, non-government assistance or a contract payment that can reasonably be considered to be in respect of scientific research and experimental development, the amount by which the particular amount exceeds all amounts applied for preceding taxation years under this subsection or subsection 127(19) or 127(20) in respect of the particular amount shall be applied to reduce the taxpayer’s qualified expenditures otherwise incurred in the year that can reasonably be considered to be in respect of the scientific research and experimental development.

    • (19) Where on or before the filing-due date for a taxation year of a person or partnership (referred to in this subsection as the “recipient”) the recipient has received, is entitled to receive or can reasonably be expected to receive a particular amount that is government assistance, non-government assistance or a contract payment that can reasonably be considered to be in respect of scientific research and experimental development and the particular amount exceeds the total of

      • (a) all amounts applied for preceding taxation years under this subsection or subsection 127(18) or 127(20) in respect of the particular amount,

      • (b) the total of all amounts each of which would be a qualified expenditure that is incurred in the year by the recipient and that can reasonably be considered to be in respect of the scientific research and experimental development if subsection 127(18) did not apply to the particular amount, and

      [...]

    • [...]

    • (21) Where on or before the filing-due date for a taxation year of a person or partnership (referred to in this subsection as the “recipient”) the recipient has received, is entitled to receive or can reasonably be expected to receive a particular amount that is government assistance, non-government assistance or a contract payment that can reasonably be considered to be in respect of scientific research and experimental development and subsection 127(19) does not apply to the particular amount in respect of the year, the lesser of

      • [...]

      • (b) the amount, if any, by which the particular amount exceeds the total of amounts applied for the year and preceding taxation years under subsection 127(18), 127(19) or 127(20) in respect of the particular amount

      is deemed for the purposes of this section to be an amount of government assistance received at the end of the particular year by the particular person or partnership in respect of the scientific research and experimental development.

    • [...]

    • Marginal note:Partnership’s taxation year

      (23) For the purposes of subsections 127(18) to 127(22), the taxation year of a partnership is deemed to be its fiscal period and its filing-due date for a taxation year is deemed to be the day that would be its filing-due date for the year if it were a corporation.

    • [...]

    • Marginal note:Unpaid amounts

      (26) For the purposes of subsections 127(5) to 127(25) and section 127.1, a taxpayer’s expenditure described in paragraph 37(1)(a) that is unpaid on the day that is 180 days after the end of the taxation year in which the expenditure is otherwise incurred is deemed

      [...]

    R.S., 1985, c. 1 (5th Supp.), s. 127; 1994, c. 7, Sch. II, s. 104, Sch. VIII, s. 68, c. 8, s. 15, c. 21, s. 61; 1995, c. 3, s. 37; 1996, c. 21, s. 30; 1997, c. 25, s. 35; 1998, c. 19, ss. 33, 146, 306; 1999, c. 22, s. 48; 2000, c. 9, s. 560; 2001, c. 17, ss. 118, 213; 2003, c. 15, s. 81, c. 19, s. 73, c. 28, s. 14; 2004 c. 24, s. 24; 2005, c. 19, s. 28; 2006, c. 4, s. 75, c. 9, s. 64; 2007, c. 2, s. 34, c. 35, s. 43; 2008, c. 28, s. 19; 2009, c. 2, ss. 40, 82; 2010, c. 12, s. 14; 2011, c. 24, s. 40; 2012, c. 19, s. 5, c. 31, s. 27; 2013, c. 33, s. 14, c. 34, s. 269, c. 40, s. 57; 2014, c. 20, s. 18, c. 39, s. 42; 2015, c. 36, s. 12; 2016, c. 7, s. 35; 2017, c. 20, s. 23, c. 33, s. 50; 2018, c. 12, s. 21; 2019, c. 29, s. 24; 2022, c. 19, s. 22.

  5. Income Tax Act - R.S.C., 1985, c. 1 (5th Supp.) (Section 20)
    Marginal note:Deductions permitted in computing income from business or property
    •  (1) Notwithstanding paragraphs 18(1)(a), 18(1)(b) and 18(1)(h), in computing a taxpayer’s income for a taxation year from a business or property, there may be deducted such of the following amounts as are wholly applicable to that source or such part of the following amounts as may reasonably be regarded as applicable thereto

      • [...]

      • (c) an amount paid in the year or payable in respect of the year (depending on the method regularly followed by the taxpayer in computing the taxpayer’s income), pursuant to a legal obligation to pay interest on

        • [...]

        • (iv) borrowed money used to acquire an interest in an annuity contract in respect of which section 12.2 applies (or would apply if the contract had an anniversary day in the year at a time when the taxpayer held the interest) except that, where annuity payments have begun under the contract in a preceding taxation year, the amount of interest paid or payable in the year shall not be deducted to the extent that it exceeds the amount included under section 12.2 in computing the taxpayer’s income for the year in respect of the taxpayer’s interest in the contract,

        [...]

      • [...]

      • (e.2) the least of the following amounts in respect of a life insurance policy (other than an annuity contract or LIA policy):

        • (i) the premiums payable by the taxpayer under the policy in respect of the year, if

          • [...]

          • (B) the interest payable in respect of the borrowing is or would, but for subsections 18(2) and 18(3.1) and sections 21 and 28, be deductible in computing the taxpayer’s income for the year, and

      • Marginal note:Discount on certain obligations

        (f) an amount paid in the year in satisfaction of the principal amount of any bond, debenture, bill, note, mortgage, hypothecary claim or similar obligation issued by the taxpayer after June 18, 1971 on which interest was stipulated to be payable, to the extent that the amount so paid does not exceed,

        [...]

      • [...]

      • Marginal note:Patronage dividends

        (u) such amounts in respect of payments made by the taxpayer pursuant to allocations in proportion to patronage as are permitted by section 135;

      • [...]

      • Marginal note:Employer’s contributions under profit sharing plan

        (w) an amount paid by the taxpayer to a trustee in trust for employees of the taxpayer or of a corporation with whom the taxpayer does not deal at arm’s length, under an employees profit sharing plan as permitted by section 144;

      • Marginal note:Employer’s contributions under registered supplementary unemployment benefit plan

        (x) an amount paid by the taxpayer to a trustee under a registered supplementary unemployment benefit plan as permitted by section 145;

      • [...]

      • (hh) an amount repaid by the taxpayer in the year pursuant to a legal obligation to repay all or part of a particular amount

        • [...]

        • (ii) that is, by reason of subparagraph 12(1)(x)(vi) or subsection 12(2.2), not included under paragraph 12(1)(x) in computing the taxpayer’s income for the year or a preceding taxation year, where the particular amount relates to an outlay or expense (other than an outlay or expense that is in respect of the cost of property of the taxpayer or that is or would be, if amounts deductible by the taxpayer were not limited by reason of paragraph 66(4)(b), subsection 66.1(2), subparagraph 66.2(2)(a)(ii), the words “30% of” in clause 66.21(4)(a)(ii)(B), clause 66.21(4)(a)(ii)(C) or (D) or subparagraph 66.4(2)(a)(ii), deductible under section 66, 66.1, 66.2, 66.21 or 66.4) that would, if the particular amount had not been received, have been deductible in computing the taxpayer’s income for the year or a preceding taxation year;

    • [...]

    • Marginal note:Borrowed money

      (3) For greater certainty, if a taxpayer uses borrowed money to repay money previously borrowed, or to pay an amount payable for property described in subparagraph (1)(c)(ii) previously acquired (which previously borrowed money or amount payable in respect of previously acquired property is, in this subsection, referred to as the “previous indebtedness”), subject to subsection 20.1(6), for the purposes of paragraphs (1)(c), (e) and (e.1), subsections 20.1(1) and (2), section 21 and subparagraph 95(2)(a)(ii), and for the purpose of paragraph 20(1)(k) of the Income Tax Act, Chapter 148 of the Revised Statutes of Canada, 1952, the borrowed money is deemed to be used for the purpose for which the previous indebtedness was used or incurred, or was deemed by this subsection to have been used or incurred.

    • [...]

    • Marginal note:Convention expenses

      (10) Notwithstanding paragraph 18(1)(b), there may be deducted in computing a taxpayer’s income for a taxation year from a business an amount paid by the taxpayer in the year as or on account of expenses incurred by the taxpayer in attending, in connection with the business, not more than two conventions held during the year by a business or professional organization at a location that may reasonably be regarded as consistent with the territorial scope of that organization.

    • [...]

    • (14.1) Where a person who has issued a debt obligation, other than an income bond or an income debenture, is obligated to pay an amount that is stipulated to be interest on that debt obligation in respect of a period before its issue (in this subsection referred to as the “unearned interest amount”) and it is reasonable to consider that the person to whom the debt obligation was issued paid to the issuer consideration for the debt obligation that included an amount in respect of the unearned interest amount,

      • (a) for the purposes of subsection 20(14) and section 12, the issue of the debt obligation shall be deemed to be an assignment of the debt obligation from the issuer, as transferor, to the person to whom the obligation was issued, as transferee, and an amount equal to the unearned interest amount shall be deemed to be interest that accrued on the obligation for a period commencing before the issue and ending at the time of issue; and

    • [...]

    • Marginal note:Terminal loss

      (16) Notwithstanding paragraphs 18(1)(a), 18(1)(b) and 18(1)(h), where at the end of a taxation year,

      [...]

    • [...]

    • (17) and (18) [Repealed, 2013, c. 34, s. 180]

    • [...]

    • (20) Where in a taxation year a taxpayer disposes of an interest in a life insurance policy that is not an annuity contract (otherwise than as a consequence of a death) or of an interest in an annuity contract (other than a prescribed annuity contract), there may be deducted in computing the taxpayer’s income for the year an amount equal to the lesser of

      • (a) the total of all amounts in respect of the interest in the policy that were included under section 12.2 of this Act or paragraph 56(1)(d.1) of the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, in computing the taxpayer’s income for the year or a preceding taxation year, and

      • (b) the amount, if any, by which the adjusted cost basis (within the meaning assigned by section 148) to the taxpayer of that interest immediately before the disposition exceeds the proceeds of the disposition (within the meaning assigned by section 148) of the interest that the policyholder, a beneficiary or an assignee became entitled to receive.

    • [...]

    • Marginal note:Manner of election

      (25) An election under subsection 20(24) shall be made by notifying the Minister in writing on or before the earlier of the days on or before which either the payer or the recipient is required to file a return of income pursuant to section 150 for the taxation year in which the payment to which the election relates was made.

    • [...]

    • Marginal note:Application of ss. 13(21) and 138(12)

      (27.1) The definitions in subsections 13(21) and 138(12) apply to this section.

    • [...]

    • Marginal note:Idem

      (29) Where, because of subsection 18(3.1), a deduction would, but for this subsection, not be allowed to a taxpayer in respect of an outlay or expense in respect of a building, or part thereof, and the outlay or expense would, but for that subsection and without reference to this subsection, be deductible in computing the taxpayer’s income for a taxation year, there may be deducted in respect of such outlays and expenses in computing the taxpayer’s income for the year an amount equal to the lesser of

      [...]

    [...]



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