- additional voluntary contribution
-
additional voluntary contribution to a registered pension plan means a contribution that is made by a member to the plan, that is used to provide benefits under a money purchase provision (within the meaning assigned by subsection 147.1(1)) of the plan and that is not required as a general condition of membership in the plan; (cotisation facultative)
- advanced life deferred annuity
-
advanced life deferred annuity has the meaning assigned by subsection 146.5(1); (rente viagère différée à un âge avancé)
- amortized cost
-
amortized cost of a loan or lending asset at any time to a taxpayer means the amount, if any, by which the total of
-
[...]
-
(c) in the case of a loan or lending asset acquired by the taxpayer, the part of the amount, if any, by which
[...]
[...]
-
[...]
-
(e) the total of all amounts each of which is an amount in respect of the loan or lending asset that was included under paragraph 12(1)(i) in computing the taxpayer’s income for any taxation year ending at or before that time
[...]
-
(f) the part of the amount, if any, by which
[...]
[...]
-
[...]
-
(i) the total of all amounts each of which is an amount in respect of the loan or lending asset deducted under paragraph 20(1)(p) in computing the taxpayer’s income for any taxation year ending at or before that time; (coût amorti)
- 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
[...]
- automobile
-
automobile means
[...]
-
[...]
-
(e) a motor vehicle
-
[...]
-
(ii) of a type commonly called a van or pick-up truck, or a similar vehicle, the use of which, in the taxation year in which it is acquired or leased, is all or substantially all for the transportation of goods, equipment or passengers in the course of gaining or producing income, or
-
(iii) of a type commonly called a pick-up truck that is used in the taxation year in which it is acquired or leased primarily for the transportation of goods, equipment or passengers in the course of earning or producing income at one or more locations in Canada that are
-
(A) described, in respect of any of the occupants of the vehicle, in subparagraph 6(6)(a)(i) or (ii), and
- balance-due day
-
balance-due day of a taxpayer for a taxation year means,
-
(a) if the taxpayer is a trust,
-
(i) in the case where the time at which the taxation year ends is determined under paragraph 249(4)(a), the day that is
-
(A) in the case where that time occurs in a calendar year after the end of the trust’s particular taxation year that ends on December 15 of that calendar year because of an election made under paragraph 132.11(1)(a), the balance-due day of the trust for the particular taxation year,
-
(ii) in any other case, the day that is 90 days after the end of the taxation year,
-
[...]
-
(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
-
(ii) the day that is two months after the day on which the taxation year ends, in any other case; (date d’exigibilité du solde)
- 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)
- Canadian corporation
-
Canadian corporation has the meaning assigned by subsection 89(1); (société canadienne)
- Canadian field processing
-
Canadian field processing means, except as otherwise prescribed,
[...]
-
[...]
-
(h) where all or part of a natural gas processing plant is devoted primarily to the recovery of ethane, the plant, or the part of the plant, as the case may be, is considered not to be a natural gas processing plant; (traitement préliminaire au Canada)
- Canadian real, immovable or resource property
-
Canadian real, immovable or resource property means
-
(a) a property that would, if this Act were read without reference to the definition real or immovable property in subsection 122.1(1), be a real or immovable property situated in Canada,
-
[...]
-
(d) a share of the capital stock of a corporation, an income or a capital interest in a trust or an interest in a partnership — other than a taxable Canadian corporation, a SIFT trust (determined without reference to subsection 122.1(2)), a SIFT partnership (determined without reference to subsection 197(8)) or a real estate investment trust (as defined in subsection 122.1(1)) — if more than 50% of the fair market value of the share or interest is derived directly or indirectly from one or any combination of properties described in paragraphs (a) to (c), or
- capital interest
-
capital interest of a taxpayer in a trust has the meaning assigned by subsection 108(1); (participation au capital)
- cash method
-
cash method has the meaning assigned by subsection 28(1); (méthode de comptabilité de caisse)
- cemetery care trust
-
cemetery care trust has the meaning assigned by subsection 148.1(1); (fiducie pour l’entretien d’un cimetière)
- common-law partner
-
common-law partner , with respect to a taxpayer at any time, means a person who cohabits at that time in a conjugal relationship with the taxpayer and
[...]
- controlled foreign affiliate
-
controlled foreign affiliate has, except as expressly otherwise provided in this Act, the meaning assigned by subsection 95(1); (société étrangère affiliée contrôlée)
- corporation incorporated in Canada
-
corporation incorporated in Canada includes a corporation incorporated in any part of Canada before or after it became part of Canada; (société constituée au Canada)
- cost amount
-
cost amount to a taxpayer of any property at any time means, except as expressly otherwise provided in this Act,
-
(a) where the property was depreciable property of the taxpayer of a prescribed class, the amount that would be that proportion of the undepreciated capital cost to the taxpayer of property of that class at that time that the capital cost to the taxpayer of the property is of the capital cost to the taxpayer of all property of that class that had not been disposed of by the taxpayer before that time if subsection 13(7) were read without reference to paragraph 13(7)(e) and if
-
[...]
-
(e) where the property was a right of the taxpayer to receive an amount, other than property that is
-
(i) a debt the amount of which was deducted under paragraph 20(1)(p) in computing the taxpayer’s income for a taxation year that ended before that time,
-
(ii) a net income stabilization account,
-
[...]
-
(iv) a right to receive production (as defined in subsection 18.1(1)) to which a matchable expenditure (as defined in subsection 18.1(1)) relates,
[...]
and, for the purposes of this definition, financial institution, mark-to-market property and specified debt obligation have the meanings assigned by subsection 142.2(1), and tax basis has the meaning assigned by subsection 142.4(1); (coût indiqué)
- credit union
-
credit union has the meaning assigned by subsection 137(6), except for the purposes of Part XV.1; (caisse de crédit)
- death benefit
-
death benefit means the total of all amounts received by a taxpayer in a taxation year on or after the death of an employee in recognition of the employee’s service in an office or employment minus
-
(a) where the taxpayer is the only person who has received such an amount and who is a surviving spouse or common-law partner of the employee (which person is, in this definition, referred to as the “surviving spouse or common-law partner”), the lesser of
-
[...]
-
(ii) the amount, if any, by which $10,000 exceeds the total of all amounts received by the taxpayer in preceding taxation years on or after the death of the employee in recognition of the employee’s service in an office or employment, or
-
(b) where the taxpayer is not the surviving spouse or common-law partner of the employee, the lesser of
-
[...]
-
(ii) that proportion of
[...]
- deferred profit sharing plan
-
deferred profit sharing plan has the meaning assigned by subsection 147(1); (régime de participation différée aux bénéfices)
- derivative forward agreement
-
derivative forward agreement , of a taxpayer, means an agreement entered into by the taxpayer to purchase or sell a capital property if
-
(a) the term of the agreement exceeds 180 days or the agreement is part of a series of agreements with a term that exceeds 180 days,
-
(b) in the case of a purchase agreement, the difference between the fair market value of the property delivered on settlement, including partial settlement, of the agreement and the amount paid for the property is attributable, in whole or in part, to an underlying interest (including a value, price, rate, variable, index, event, probability or thing) other than
-
(i) revenue, income or cashflow in respect of the property over the term of the agreement, changes in the fair market value of the property over the term of the agreement, or any similar criteria in respect of the property unless
-
(A) the property is
-
[...]
-
(II) an interest in a partnership the fair market value of which is derived, in whole or in part, from a Canadian security,
-
(B) the agreement is an agreement to acquire property from
-
(C) it can reasonably be considered that one of the main purposes of the series of transactions or events, or any transaction or event in the series, of which the agreement is part is for all or any portion of the capital gain on a disposition (other than a disposition by the seller to the taxpayer under the agreement) of a Canadian security referred to in clause (A) — as part of the same series of transactions or events — to be attributable to amounts paid or payable on the Canadian security by the issuer of the Canadian security during the term of the agreement as
-
(ii) if the purchase price is denominated in the currency of a country other than Canada, changes in the value of the Canadian currency relative to that other currency, or
-
(c) in the case of a sale agreement,
-
(i) the difference between the sale price of the property and the fair market value of the property at the time the agreement is entered into by the taxpayer is attributable, in whole or in part, to an underlying interest (including a value, price, rate, variable, index, event, probability or thing) other than
[...]
-
(ii) the agreement is part of an arrangement that has the effect — or would have the effect if the agreements that are part of the arrangement and that were entered into by persons or partnerships not dealing at arm’s length with the taxpayer were entered into by the taxpayer instead of non-arm’s length persons or partnerships — of eliminating a majority of the taxpayer’s risk of loss and opportunity for gain or profit in respect of the property for a period of more than 180 days; (contrat dérivé à terme)
- 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) any transaction or event by which,
-
(i) where the property is a share, bond, debenture, note, certificate, mortgage, hypothecary claim, agreement of sale or similar property, or interest, or for civil law a right, in it, the property is in whole or in part redeemed, acquired or cancelled,
-
(ii) where the property is a debt or any other right to receive an amount, the debt or other right is settled or cancelled,
-
[...]
-
(v) a trust, that can reasonably be considered to act as agent for all the beneficiaries under the trust with respect to all dealings with all of the trust’s property (unless the trust is described in any of paragraphs (a) to (e.1) of the definition trust in subsection 108(1)), ceases to act as agent for a beneficiary under the trust with respect to any dealing with any of the trust’s property,
-
[...]
-
(d) where the property is, or is part of, a taxpayer’s capital interest in a trust, except as provided by paragraph (h) or (i), a payment made after 1999 to the taxpayer from the trust that can reasonably be considered to have been made because of the taxpayer’s capital interest in the trust,
[...]
-
(e) any transfer of the property as a consequence of which there is no change in the beneficial ownership of the property, except where the transfer is
-
(f) any transfer of the property as a consequence of which there is no change in the beneficial ownership of the property, where
-
[...]
-
(ii) [Repealed, 2013, c. 34, s. 358]
-
[...]
-
(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
-
(vii) the transfer results, or is part of a series of transactions or events that results, in the transferor ceasing to exist and, immediately before the time of the transfer or the beginning of that series, as the case may be, the transferee never held any property or held only property having a nominal value,
-
[...]
-
(h) where the property is part of a capital interest of a taxpayer in a trust (other than a personal trust or a trust prescribed for the purpose of subsection 107(2)) that is described by reference to units issued by the trust, a payment after 1999 from the trust in respect of the capital interest, where the number of units in the trust that are owned by the taxpayer is not reduced because of the payment,
-
(i) where the property is a taxpayer’s capital interest in a trust, a payment to the taxpayer after 1999 in respect of the capital interest to the extent that the payment
-
[...]
-
(k) any transfer of the property to a trust as a consequence of which there is no change in the beneficial ownership of the property, where the main purpose of the transfer is
-
[...]
-
(n) a redemption, an acquisition or a cancellation 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 paragraph as the “security”) of the capital stock of a corporation (referred to in this paragraph as the “issuing corporation”) held by another corporation (referred to in this paragraph as the “disposing corporation”) if
-
(i) the redemption, acquisition or cancellation occurs as part of a merger or combination of two or more corporations (including the issuing corporation and the disposing corporation) to form one corporate entity (referred to in this paragraph as the “new corporation”),
-
(ii) the merger or combination
-
(A) is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) does not apply,
-
(B) is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) applies, if the issuing corporation and the disposing corporation are described by subsection 87(11) as the parent and the subsidiary, respectively,
-
[...]
-
(D) would be a foreign merger (within the meaning assigned by subsection 87(8.1)) if subparagraph 87(8.1)(c)(ii) were read without reference to the words “that was resident in a country other than Canada”, and
-
(iii) either
-
[...]
-
(B) in the case where the merger or combination is described by clause (ii)(C) or (D), the disposing corporation receives no consideration for the security other than property that was, immediately before the merger or combination, owned by the issuing corporation and that, on the merger or combination, becomes property of the new corporation; (disposition)
- dividend rental arrangement
-
dividend rental arrangement , of a person or a partnership (each of which is referred to in this definition as the person), means
-
(a) any arrangement entered into by the person where it can reasonably be considered that
-
(b) for greater certainty, any arrangement under which
-
[...]
-
(d) one or more agreements or arrangements (other than agreements or arrangements described in paragraph (c)) entered into by the person, the connected person referred to in paragraph (a) of the definition synthetic equity arrangement or, for greater certainty, by any combination of the person and connected persons, if
-
[...]
-
(ii) as part of a series of transactions that includes these agreements or arrangements, a tax-indifferent investor, or a group of tax-indifferent investors each member of which is affiliated with every other member, obtains all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share or an identical share (as defined in subsection 112(10)), and
-
(iii) it is reasonable to conclude that one of the purposes of the series of transactions is to obtain the result described in subparagraph (ii); (mécanisme de transfert de dividendes)
- DRA share
-
DRA share , of a person or partnership, means a share
- eligible dividend
-
eligible dividend has the meaning assigned by subsection 89(1); (dividende déterminé)
- eligible funeral arrangement
-
eligible funeral arrangement has the meaning assigned by subsection 148.1(1); (arrangement de services funéraires)
- eligible relocation
-
eligible relocation means a relocation of a taxpayer in respect of which the following apply:
- 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
-
(a) a fund, plan or trust referred to in subparagraph 6(1)(a)(i) or paragraph 6(1)(d) or (f),
-
(b) a trust described in paragraph 149(1)(y),
-
[...]
-
(c.1) a salary deferral arrangement, in respect of a taxpayer, under which deferred amounts are required to be included as benefits under paragraph 6(1)(a) in computing the taxpayer’s income,
- employee trust
-
employee trust means an arrangement (other than an employees profit sharing plan, a deferred profit sharing plan or a plan referred to in subsection 147(15) as a “revoked plan”) established after 1979
-
(a) under which payments are made by one or more employers to a trustee in trust solely to provide to employees or former employees of
[...]
-
(b) under which the trustee has, since the commencement of the arrangement, each year allocated to individuals who are beneficiaries thereunder, in such manner as is reasonable, the amount, if any, by which the total of all amounts each of which is
-
[...]
-
(ii) the amount that would, if this Act were read without reference to subsection 104(6), be the income of the trust for the year (other than a taxable capital gain from the disposition of property) from a property or other source other than a business, or
[...]
- employees profit sharing plan
-
employees profit sharing plan has the meaning assigned by subsection 144(1); (régime de participation des employés aux bénéfices)
- estate
-
estate has the meaning assigned by subsection 104(1) and includes, for civil law, a succession; (succession)
- excessive eligible dividend designation
-
excessive eligible dividend designation has the meaning assigned by subsection 89(1); (désignation excessive de dividende déterminé)
- exempt income
-
exempt income means property received or acquired by a person in such circumstances that it is, because of any provision of Part I, not included in computing the person’s income, but does not include a dividend on a share or a support amount (as defined in subsection 56.1(4)); (revenu exonéré)
- filing-due date
-
filing-due date for a taxation year of a taxpayer means the day on or before which the taxpayer’s return of income under Part I for the year is required to be filed or would be required to be filed if tax under that Part were payable by the taxpayer for the year; (date d’échéance de production)
- first home savings account
-
first home savings account or FHSA has the same meaning as in subsection 146.6(1); (compte d’épargne libre d’impôt pour l’achat d’une première propriété ou CELIAPP)
- foreign affiliate
-
foreign affiliate has the meaning assigned by subsection 95(1); (société étrangère affiliée)
- foreign resource expense
-
foreign resource expense has the meaning assigned by subsection 66.21(1); (frais relatifs à des ressources à l’étranger)
- foreign resource property
-
foreign resource property has the meaning assigned by subsection 66(15), and a foreign resource property in respect of a country means a foreign resource property that is
- fully collateralized arrangement
-
fully collateralized arrangement means a securities lending arrangement or a specified securities lending arrangement if, throughout the term of the arrangement, the borrower
-
(a) has provided the lender under the arrangement with money in an amount of, or securities described in paragraph (c) of the definition qualified security in subsection 260(1) that have a fair market value of, not less than 95% of the fair market value of the security that is transferred or lent under the arrangement, and
- general rate income pool
-
general rate income pool has the meaning assigned by subsection 89(1); (compte de revenu à taux général)
- goods and services tax
-
goods and services tax means the tax payable under Part IX of the Excise Tax Act; (taxe sur les produits et services)
- graduated rate estate
-
graduated rate estate , of an individual at any time, means the estate that arose on and as a consequence of the individual’s death if
-
[...]
-
(c) the individual’s Social Insurance Number (or if the individual had not, before the death, been assigned a Social Insurance Number, such other information as is acceptable to the Minister) is provided in the estate’s return of income under Part I for the taxation year that includes that time and for each of its earlier taxation years that ended after 2015,
-
(d) the estate designates itself as the graduated rate estate of the individual in its return of income under Part I for its first taxation year that ends after 2015, and
-
(e) no other estate designates itself as the graduated rate estate of the individual in a return of income under Part I for a taxation year that ends after 2015; (succession assujettie à l’imposition à taux progressifs)
- grandfathered share
-
grandfathered share means
-
[...]
-
(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
[...]
-
(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
-
(i) was issued before that time, that was issued after that time under an agreement in writing entered into before that time or that was issued 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 rights were distributed, and
-
(ii) was listed on a designated stock exchange,
[...]
[...]
- home relocation loan
-
home relocation loan means a loan received by an individual or the individual’s spouse or common-law partner in circumstances where the individual has commenced employment at a location in Canada (in this definition referred to as the “new work location”) and by reason thereof has moved from the residence in Canada at which, before the move, the individual ordinarily resided (in this definition referred to as the “old residence”) to a residence in Canada at which, after the move, the individual ordinarily resided (in this definition referred to as the “new residence”) if
- income bond
-
income bond or income debenture of a corporation (in this definition referred to as the “issuing corporation”) means a bond or debenture in respect of which interest or dividends are payable only to the extent that the issuing corporation has made a profit before taking into account the interest or dividend obligation and that was issued
-
[...]
-
(c) by an issuing corporation resident in Canada for a term that may not, in any circumstances, exceed 5 years,
-
(i) as part of a proposal to or an arrangement with its creditors that had been approved by a court under the Bankruptcy and Insolvency Act,
-
(ii) at a time when all or substantially all of its assets were under the control of a receiver, receiver-manager, sequestrator or trustee in bankruptcy, or
-
(iii) at a time when, by reason of financial difficulty, the issuing corporation or another corporation resident in Canada with which it does not deal at arm’s length was in default, or could reasonably be expected to default, on a debt obligation held by a person with whom the issuing corporation or the other corporation was dealing at arm’s length and the bond or debenture was issued either wholly or in substantial part and either directly or indirectly in exchange or substitution for that obligation or a part thereof,
[...]
[...]
-
[...]
-
(e) where
-
[...]
-
(ii) under the terms or conditions of a bond or debenture acquired in the ordinary course of the business carried on by a specified financial institution or a partnership or trust (other than a testamentary trust) or under the terms or conditions of any agreement relating to any such bond or debenture (other than an agreement made before October 24, 1979 to which the issuing corporation or any person related thereto was not a party), the owner thereof could at any particular time after November 16, 1978 require, either alone or together with one or more taxpayers, the repayment, acquisition, cancellation or conversion of the bond or debenture otherwise than by reason of a failure or default under the terms or conditions of the bond or debenture or any agreement that related to, and was entered into at the time of, the issuance of the bond or debenture,
-
[...]
-
(iv) at a particular time a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquires a bond or debenture that
[...]
- income interest
-
income interest of a taxpayer in a trust has the meaning assigned by subsection 108(1); (participation au revenu)
- international shipping
-
international shipping means the operation of a ship owned or leased by a person or partnership (in this definition referred to as the “operator”) that is used, either directly or as part of a pooling arrangement, primarily in transporting passengers or goods in international traffic — determined as if, except where paragraph (c) of the definition international traffic in this subsection applies, any port or other place on the Great Lakes or St. Lawrence River is in Canada — including the chartering of the ship, provided that one or more persons related to the operator (if the operator and each such person is a corporation), or persons or partnerships affiliated with the operator (in any other case), has complete possession, control and command of the ship, and any activity incident to or pertaining to the operation of the ship, but does not include
[...]
- inter vivos trust
-
inter vivos trust has the meaning assigned by subsection 108(1); (fiducie non testamentaire)
- lawyer
-
lawyer has the meaning assigned by subsection 232(1); (avocat)
- LIA policy
-
LIA policy means a life insurance policy (other than an annuity) where
- licensed annuities provider
-
licensed annuities provider has the meaning assigned by subsection 147(1); (fournisseur de rentes autorisé)
- life insurance business
-
life insurance business includes
[...]
- low rate income pool
-
low rate income pool has the meaning assigned by subsection 89(1); (compte de revenu à taux réduit)
- majority-interest partner
-
majority-interest partner , of a particular partnership at any time, means a person or partnership (in this definition referred to as the “taxpayer”)
-
(a) whose share of the particular partnership’s income from all sources for the last fiscal period of the particular partnership that ended before that time (or, if the particular partnership’s first fiscal period includes that time, for that period) would have exceeded 1/2 of the particular partnership’s income from all sources for that period if the taxpayer had held throughout that period each interest in the partnership that the taxpayer or a person affiliated with the taxpayer held at that time, or
-
(b) whose share, if any, together with the shares of every person with whom the taxpayer is affiliated, of the total amount that would be paid to all members of the particular partnership (otherwise than as a share of any income of the partnership) if it were wound up at that time exceeds 1/2 of that amount; (associé détenant une participation majoritaire)
- mineral resource
-
mineral resource means
- money purchase limit
-
money purchase limit for a calendar year has the meaning assigned by subsection 147.1(1); (plafond des cotisations déterminées)
- net corporate income tax rate
-
net corporate income tax rate in respect of a SIFT trust or SIFT partnership for a taxation year means the amount, expressed as a decimal fraction, by which
[...]
-
(b) the total of
-
(i) the percentage that would, if the SIFT trust or SIFT partnership were a corporation, be its general rate reduction percent- age, within the meaning assigned by subsection 123.4(1), for the taxation year, and
-
(ii) the percentage deduction from tax provided under subsection 124(1) for the taxation year; (taux net d’imposition du revenu des sociétés)
- non-portfolio property
-
non-portfolio property has the same meaning as in subsection 122.1(1); (bien hors portefeuille)
- 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)
- paid-up capital
-
paid-up capital has the meaning assigned by subsection 89(1); (capital versé)
- Part VII refund
-
Part VII refund has the meaning assigned by subsection 192(2); (remboursement de la partie VII)
- Part VIII refund
-
Part VIII refund has the meaning assigned by subsection 194(2); (remboursement de la partie VIII)
- person
-
person , or any word or expression descriptive of a person, includes any corporation, and any entity exempt, because of subsection 149(1), from tax under Part I on all or part of the entity’s taxable income and the heirs, executors, liquidators of a succession, administrators or other legal representatives of such a person, according to the law of that part of Canada to which the context extends; (personne)
- personal trust
-
personal trust means a trust (other than a trust that is, or was at any time after 1999, a unit trust) that is
- pooled pension plan
-
pooled pension plan has the same meaning as in subsection 147.5(1); (régime de pension collectif)
- pooled registered pension plan
-
pooled registered pension plan or PRPP has the same meaning as in subsection 147.5(1); (régime de pension agréé collectif ou RPAC)
- private corporation
-
private corporation has the meaning assigned by subsection 89(1); (société privée)
- profit sharing plan
-
profit sharing plan has the meaning assigned by subsection 147(1); (régime de participation aux bénéfices)
- public corporation
-
public corporation has the meaning assigned by subsection 89(1); (société publique)
- public market
-
public market has the same meaning as in subsection 122.1(1); (marché public)
- qualified Canadian journalism organization
-
qualified Canadian journalism organization , at any time, means a corporation, partnership or trust that
- qualified donee
-
qualified donee has the meaning assigned by subsection 149.1(1); (donataire reconnu)
- qualifying environmental trust
-
qualifying environmental trust has the meaning assigned by subsection 211.6(1); (fiducie pour l’environnement admissible)
- refundable Part VII tax on hand
-
refundable Part VII tax on hand has the meaning assigned by subsection 192(3); (impôt de la partie VII en main remboursable)
- refundable Part VIII tax on hand
-
refundable Part VIII tax on hand has the meaning assigned by subsection 194(3); (impôt de la partie VIII en main remboursable)
- registered Canadian amateur athletic association
-
registered Canadian amateur athletic association means a Canadian amateur athletic association within the meaning assigned by subsection 149.1(1) that has applied to the Minister in prescribed form for registration, that has been registered and whose registration has not been revoked; (association canadienne enregistrée de sport amateur)
- registered charity
-
registered charity at any time means
-
(a) a charitable organization, private foundation or public foundation, within the meanings assigned by subsection 149.1(1), that is resident in Canada and was either created or established in Canada, or
[...]
- registered disability savings plan
-
registered disability savings plan or RDSP has the same meaning as in subsection 146.4(1); (régime enregistré d’épargne-invalidité ou REEI)
- registered education savings plan
-
registered education savings plan or RESP has the same meaning as in subsection 146.1(1); (régime enregistré d’épargne-études ou REEE)
- registered investment
-
registered investment has the meaning assigned by subsection 204.4(1); (placement enregistré)
- registered journalism organization
-
registered journalism organization means a qualifying journalism organization (as defined in subsection 149.1(1)) that has applied to the Minister in prescribed form for registration, that has been registered and whose registration has not been revoked; (organisation journalistique enregistrée)
- registered labour-sponsored venture capital corporation
-
registered labour-sponsored venture capital corporation means a corporation that was registered under subsection 204.81(1), the registration of which has not been revoked; (société agréée à capital de risque de travailleurs)
- registered retirement income fund
-
registered retirement income fund or RRIF have the same meaning as registered retirement income fund in subsection 146.3(1); (fonds enregistré de revenu de retraite ou FERR)
- registered retirement savings plan
-
registered retirement savings plan or RRSP have the same meaning as registered retirement savings plan in subsection 146(1); (régime enregistré d’épargne-retraite ou REER)
- registered supplementary unemployment benefit plan
-
registered supplementary unemployment benefit plan has the meaning assigned by subsection 145(1); (régime enregistré de prestations supplémentaires de chômage)
- relevant factor
-
relevant factor means
- restricted financial institution
-
restricted financial institution means
- retirement compensation arrangement
-
retirement compensation arrangement means a plan or arrangement under which contributions (other than payments made to acquire an interest in a life insurance policy) are made by an employer or former employer of a taxpayer, or by a person with whom the employer or former employer does not deal at arm’s length, to another person or partnership (in this definition and in Part XI.3 referred to as the “custodian”) in connection with benefits that are to be or may be received or enjoyed by any person on, after or in contemplation of any substantial change in the services rendered by the taxpayer, the retirement of the taxpayer or the loss of an office or employment of the taxpayer, but does not include
-
[...]
-
(i) a vacation pay trust described in paragraph 149(1)(y),
-
(j) a plan or arrangement established for the purpose of deferring the salary or wages of a professional athlete for his services as such with a team that participates in a league having regularly scheduled games (in this definition referred to as an “athlete’s plan”), where
-
[...]
-
(ii) in the case of a Canadian team, the custodian of the plan or arrangement carries on business through a fixed place of business in Canada and is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee,
-
(k) a salary deferral arrangement, whether or not deferred amounts thereunder are required to be included as benefits under paragraph 6(1)(a) in computing a taxpayer’s income,
[...]
- retirement income fund
-
retirement income fund has the meaning assigned by subsection 146.3(1); (fonds de revenu de retraite)
- retirement savings plan
-
retirement savings plan has the meaning assigned by subsection 146(1); (régime d’épargne-retraite)
- retiring allowance
-
retiring allowance means an amount (other than a superannuation or pension benefit, an amount received as a consequence of the death of an employee or a benefit described in subparagraph 6(1)(a)(iv)) received
[...]
- RRSP deduction limit
-
RRSP deduction limit has the meaning assigned by subsection 146(1); (maximum déductible au titre des REER)
- RRSP dollar limit
-
RRSP dollar limit has the meaning assigned by subsection 146(1); (plafond REER)
- salary deferral arrangement
-
salary deferral arrangement , in respect of a taxpayer, means a plan or arrangement, whether funded or not, under which any person has a right in a taxation year to receive an amount after the year where it is reasonable to consider that one of the main purposes for the creation or existence of the right is to postpone tax payable under this Act by the taxpayer in respect of an amount that is, or is on account or in lieu of, salary or wages of the taxpayer for services rendered by the taxpayer in the year or a preceding taxation year (including such a right that is subject to one or more conditions unless there is a substantial risk that any one of those conditions will not be satisfied), but does not include
- 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)
- securities lending arrangement
-
securities lending arrangement has the meaning assigned by subsection 260(1); (mécanisme de prêt de valeurs mobilières)
- share
-
share , except as the context otherwise requires, means a share or a fraction of a share of the capital stock of a corporation and, for greater certainty, a share of the capital stock of a corporation includes a share of the capital of a cooperative corporation (within the meaning assigned by subsection 136(2)), a share of the capital of an agricultural cooperative corporation (within the meaning assigned by subsection 135.1(1)) and a share of the capital of a credit union; (action)
- short-term preferred share
-
short-term preferred share of a corporation at any particular time means a share, other than a grandfathered share, of the capital stock of the corporation issued after December 15, 1987 that at that particular time
-
(a) is a share where, under the terms and conditions of the share, any agreement relating to the share or any modification of those terms and conditions or that agreement, the corporation or a specified person in relation to the corporation is or may, at any time within 5 years after the date of its issue, be required to redeem, acquire or cancel, in whole or in part, the share (unless the requirement to redeem, acquire or cancel the share arises only in the event of the death of the shareholder or by reason only of a right to convert or exchange the share) or to reduce the paid-up capital of the share, and for the purposes of this paragraph
-
(i) an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount
-
(A) in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or
-
(ii) shareholder includes a shareholder of a shareholder, or
-
(b) is a share that is convertible or exchangeable at any time within 5 years after the date of its issue, unless
-
[...]
-
(ii) all the consideration receivable for the share on the conversion or exchange is the share described in clause (A) or the right or warrant described in clause (B) or both, as the case may be, and for the purposes of this subparagraph, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of clauses (A) to (C)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1 or VI.1,
[...]
-
(c) where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 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 paragraphs (a), (b), (f) and (h) 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 be deemed after that particular time to have been issued at that particular time,
-
(d) where at any particular time after December 15, 1987 a particular share of the capital stock of a corporation has been issued or its terms or conditions have been modified or an agreement in respect of the share is modified or entered into, and it may reasonably be considered, having regard to all the circumstances, including the rate of interest on any debt obligation or the dividend provided on any short-term preferred share, that
[...]
-
(e) where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, the terms or conditions of a share of the capital stock of a corporation are modified or established or any agreement in respect of the share has been changed or entered into, and as a consequence thereof the corporation or a specified person in relation to the corporation may reasonably be expected to redeem, acquire or cancel (otherwise than by reason of the death of the shareholder or by reason only of a right to convert or exchange the share that would not cause the share to be a short-term preferred share by reason of paragraph (b)), in whole or in part, the share, or to reduce its paid-up capital, within 5 years after the particular time, the share shall be deemed to have been issued at that particular time and to be a short-term preferred share of the corporation after the particular time until the time that that reasonable expectation ceases to exist and, for the purposes of this paragraph,
-
(i) an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount
-
(A) in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or
-
(ii) shareholder includes a shareholder of a shareholder,
-
(f) if a share of the capital stock of a corporation was issued after December 15, 1987 and at the time the share was issued the existence of the corporation was, or there was an arrangement under which it could be, limited to a period that was within five years from the date of its issue, the share is deemed to be a short-term preferred share of the corporation unless
-
[...]
-
(ii) the share is issued to an individual after April 14, 2005 under an agreement referred to in subsection 7(1), if when the individual last acquired a right under the agreement to acquire a share of the capital stock of the corporation, the existence of the corporation was not, and no arrangement was in effect under which it could be, limited to a period that was within five years from the date of that last acquisition,
-
[...]
-
(h) where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, as a result of the terms or conditions of a share of the capital stock of a corporation or any agreement entered into by the corporation or a specified person in relation to the corporation, any person (other than the corporation or an individual other than a trust) was obligated, either absolutely or contingently and either immediately or in the future, to effect any undertaking within 5 years after the day on which the share was issued (in this paragraph referred to as a “guarantee agreement”) including any guarantee, covenant or agreement to purchase or repurchase the share, and including the lending of funds or the placing of amounts on deposit with, or on behalf of the shareholder or a specified person in relation to the shareholder given
the share shall be deemed after that particular time to have been issued at the particular time and to be at and immediately after the particular time a short-term preferred share, and for the purposes of this paragraph, where a guarantee agreement in respect of a share is given at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 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,
- 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:
- SIFT wind-up corporation
-
SIFT wind-up corporation , in respect of a SIFT wind-up entity, means at any particular time a corporation
-
(a) that, at any time that is after July 13, 2008 and before the earlier of the particular time and January 1, 2013, owns all of the equity in the SIFT wind-up entity, or
- SIFT wind-up entity
-
SIFT wind-up entity means a trust or partnership that at any time in the period that began on October 31, 2006 and that ends on July 14, 2008 is
- SIFT wind-up entity equity
-
SIFT wind-up entity equity , or equity in a SIFT wind-up entity, means
[...]
except that if all of the interests described in paragraph (a) or (b), as the case may be, in the SIFT wind-up entity are described by reference to units, it means the part of the interest represented by such a unit; (intérêt dans une EIPD convertible)
- small business corporation
-
small business corporation , at any particular time, means, subject to subsection 110.6(15), a particular corporation that is a Canadian-controlled private corporation all or substantially all of the fair market value of the assets of which at that time is attributable to assets that are
[...]
including, for the purpose of paragraph 39(1)(c), a corporation that was at any time in the 12 months preceding that time a small business corporation, and, for the purpose of this definition, the fair market value of a net income stabilization account shall be deemed to be nil; (société exploitant une petite entreprise)
- specified financial institution
-
specified financial institution , at any time, means
-
[...]
-
(e.1) a corporation described in paragraph (g) of the definition financial institution in subsection 181(1),
-
[...]
-
(g) a corporation that is related to a particular corporation described in any of paragraphs (a) to (f), other than a particular corporation described in paragraph (e) or (e.1) the principal business of which is the factoring of trade accounts receivable that
- specified future tax consequence
-
specified future tax consequence for a taxation year means
-
[...]
-
(b) the consequence of a reduction under subsection 66(12.73) of a particular amount purported to be renounced by a corporation after the beginning of the year to a person or partnership under subsection 66(12.6) or 66(12.601) because of the application of subsection 66(12.66), determined as if the purported renunciation would, but for subsection 66(12.73), have been effective only where
- specified hedging transaction
-
specified hedging transaction , in respect of a DRA share of a person or partnership (referred to in this definition as the “particular person”), means a transaction (in this definition, as defined in subsection 245(1)) or series of transactions that satisfies the following conditions:
- specified individual
-
specified individual has the meaning assigned by subsection 120.4(1); (particulier déterminé)
- specified member
-
specified member of a partnership in a fiscal period or taxation year of the partnership, as the case may be, means
on a regular, continuous and substantial basis throughout that part of the period or year during which the business of the partnership is ordinarily carried on and during which the member is a member of the partnership; (associé déterminé)
- specified proportion
-
specified proportion , of a member of a partnership for a fiscal period of the partnership, means the proportion that the member’s share of the total income or loss of the partnership for the partnership’s fiscal period is of the partnership’s total income or loss for that period and, for the purpose of this definition, where that income or loss for a period is nil, that proportion shall be computed as if the partnership had income for that period in the amount of $1,000,000; (proportion déterminée)
- specified securities lending arrangement
-
specified securities lending arrangement has the same meaning as in subsection 260(1); (mécanisme de prêt de valeurs mobilières déterminé)
- split income
-
split income has the meaning assigned by subsection 120.4(1); (revenu fractionné)
- superannuation or pension benefit
-
superannuation or pension benefit includes any amount received out of or under a superannuation or pension fund or plan (including, except for the purposes of subparagraph 56(1)(a)(i), a pooled registered pension plan) and, without restricting the generality of the foregoing, includes any payment made to a beneficiary under the fund or plan or to an employer or former employer of the beneficiary under the fund or plan
[...]
- supplementary unemployment benefit plan
-
supplementary unemployment benefit plan has the meaning assigned by subsection 145(1); (régime de prestations supplémentaires de chômage)
- synthetic disposition arrangement
-
synthetic disposition arrangement , in respect of a property owned by a taxpayer, means one or more agreements or other arrangements that
-
[...]
-
(c) can, in respect of any agreement or arrangement entered into by a person or partnership that does not deal at arm’s length with the taxpayer, reasonably be considered to have been entered into, in whole or in part, with the purpose of obtaining the effect described in paragraph (b); (arrangement de disposition factice)
- synthetic equity arrangement
-
synthetic equity arrangement in respect of a DRA share of a person or partnership (referred to in this definition as the particular person),
- synthetic equity arrangement chain
-
synthetic equity arrangement chain , in respect of a share owned by a person or partnership, means a synthetic equity arrangement — or a synthetic equity arrangement in combination with one or more specified synthetic equity arrangements — where
-
(a) no party to the synthetic equity arrangement or a specified synthetic equity arrangement, if any, is a tax-indifferent investor, and
-
(b) each other party to these agreements or arrangements is affiliated with the person or partnership; (chaîne d’arrangements de capitaux propres synthétiques)
- 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 corporation
-
taxable Canadian corporation has the meaning assigned by subsection 89(1); (société canadienne imposable)
- taxable Canadian property
-
taxable Canadian property of a taxpayer at any time in a taxation year means a property of the taxpayer that is
-
[...]
-
(b) property used or held by the taxpayer in, property included in Class 14.1 of Schedule II to the Income Tax Regulations in respect of, or property described in an inventory of, a business carried on in Canada, other than
-
[...]
-
(ii) where the taxpayer is non-resident, ships and aircraft used principally in international traffic and personal or movable property pertaining to their operation if the country in which the taxpayer is resident does not impose tax on gains of persons resident in Canada from dispositions of such property,
-
[...]
-
(d) a share of the capital stock of a corporation (other than a mutual fund corporation) that is not listed on a designated stock exchange, an interest in a partnership or an interest in a trust (other than a unit of a mutual fund trust or an income interest in a trust resident in Canada), if, at any particular time during the 60-month period that ends at that time, more than 50% of the fair market value of the share or interest, as the case may be, was derived directly or indirectly (otherwise than through a corporation, partnership or trust the shares or interests in which were not themselves taxable Canadian property at the particular time) from one or any combination of
-
(e) a share of the capital stock of a corporation that is listed on a designated stock exchange, a share of the capital stock of a mutual fund corporation or a unit of a mutual fund trust, if, at any particular time during the 60-month period that ends at that time,
-
[...]
-
(ii) more than 50% of the fair market value of the share or unit, as the case may be, was derived directly or indirectly from one or any combination of properties described under subparagraphs (d)(i) to (iv), or
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 dividend
-
taxable dividend has the meaning assigned by subsection 89(1); (dividende imposable)
- taxable income earned in Canada
-
taxable income earned in Canada means a taxpayer’s taxable income earned in Canada determined in accordance with Division D of Part I, except that in no case may a taxpayer’s taxable income earned in Canada be less than nil; (revenu imposable gagné au Canada)
- 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,
-
[...]
-
(ii) it may reasonably be considered, having regard to all the circumstances, that the amount that the shareholder is entitled to receive in respect of the share on the dissolution, liquidation or winding-up of the corporation or on the redemption, acquisition or cancellation of the share (unless the requirement to redeem, acquire or cancel the share arises only in the event of the death of the shareholder or by reason only of a right to convert or exchange the share) or on a reduction of the paid-up capital of the share by the corporation or by a specified person in relation to the corporation (in this definition referred to as the “liquidation entitlement”) is, by way of a formula or otherwise
[...]
-
(iii) the share is convertible or exchangeable at any time, unless
-
(A) it is convertible into or exchangeable for
-
[...]
-
(II) a right or warrant that, if exercised, would allow the person exercising it to acquire only a share of the corporation or a corporation related to the corporation that, if issued, would not be a taxable preferred share, or
-
(III) both a share described in subclause (I) and a right or warrant described in subclause (II), and
-
(B) all the consideration receivable for the share on the conversion or exchange is the share described in subclause (I) or the right or warrant described in subclause (II) or both, as the case may be, and, for the purposes of this clause, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of subclauses (I) to (III)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1 or VI.1, or
-
(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
-
(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
-
(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
-
(f) an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount
-
[...]
-
(ii) that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or for an amount determined by reference to the assets or earnings of the corporation where that determination may reasonably be considered to be used to determine an amount that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement,
-
(g) where
[...]
- 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,
-
(a) it may reasonably be considered, having regard to all the circumstances, that the amount of the dividends that may be declared or paid on the share (in this definition referred to as the “dividend entitlement”) is, by way of a formula or otherwise
-
(b) it may reasonably be considered, having regard to all the circumstances, that the amount that the shareholder is entitled to receive in respect of the share on the dissolution, liquidation or winding-up of the corporation (in this definition referred to as the “liquidation entitlement”) is, by way of formula or otherwise
[...]
-
(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
-
(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
-
(e) where
[...]
- tax-indifferent investor
-
tax-indifferent investor , at any time, means a person or partnership that is at that time
- tax shelter
-
tax shelter has the meaning assigned by subsection 237.1(1); (abri fiscal)
- 10/8 policy
-
10/8 policy means a life insurance policy (other than an annuity) where
- 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
-
(a) under the terms or conditions of the share, any agreement relating to the share or any modification of those terms or conditions or that agreement,
-
[...]
-
(ii) the issuing corporation or any other person or partnership is or may be required to redeem, acquire or cancel, in whole or in part, the share (unless the requirement to redeem, acquire or cancel the share arises by reason only of a right to convert or exchange the share) or to reduce its paid-up capital,
-
[...]
-
(iv) the share is convertible or exchangeable unless
-
(A) it is convertible into or exchangeable for
-
[...]
-
(II) a right or warrant that, if exercised, would allow the person exercising it to acquire only a share of the issuing corporation or a corporation related to the issuing corporation that, if issued, would not be a term preferred share, or
-
(III) both a share described in subclause (I) and a right or warrant described in subclause (II), and
-
(B) all the consideration receivable for the share on the conversion or exchange is the share described in subclause (A)(I) or the right or warrant described in subclause (A)(II) or both, as the case may be, and, for the purposes of this clause, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of subclauses (A)(I) to (A)(III)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of subsection 112(2.1) or 258(3), or
-
(b) the owner thereof acquired the share after October 23, 1979 and is
-
[...]
-
(ii) a corporation that is controlled by one or more corporations described in subparagraph (i),
-
(iii) a corporation that acquired the share after December 11, 1979 and is related to a corporation referred to in subparagraph (i) or (ii), or
-
(iv) a partnership or trust of which a corporation referred to in subparagraph (i) or (ii) or a person related thereto is a member or a beneficiary,
[...]
[...]
-
[...]
-
(d) that was issued as a stock dividend
-
[...]
-
(ii) after April 21, 1980 on a share that was, at the time the stock dividend was paid, a share prescribed for the purposes of paragraph (f),
-
(d.1) that is listed on a designated stock exchange in Canada and was issued before April 22, 1980 by
-
[...]
-
(ii) a corporation whose principal business is the lending of money or the purchasing of debt obligations or a combination thereof, or
-
(iii) an issuing corporation associated with a corporation described in subparagraph (i) or (ii),
-
(e) for a period not exceeding ten years and, in the case of a share issued after November 12, 1981, for a period not exceeding five years, from the date of its issuance, which share was issued by a corporation resident in Canada,
-
(i) as part of a proposal to, or an arrangement with, its creditors that had been approved by a court under the Bankruptcy and Insolvency Act,
-
(ii) at a time when all or substantially all of its assets were under the control of a receiver, receiver-manager, sequestrator or trustee in bankruptcy, or
-
(iii) at a time when, by reason of financial difficulty, the issuing corporation or another corporation resident in Canada with which it does not deal at arm’s length was in default, or could reasonably be expected to default, on a debt obligation held by a person with whom the issuing corporation or the other corporation was dealing at arm’s length and the share was issued either wholly or in substantial part and either directly or indirectly in exchange or substitution for that obligation or a part thereof,
[...]
-
[...]
-
(f.1) that is a taxable preferred share held by a specified financial institution that acquired the share
[...]
[...]
-
[...]
-
(h) where
-
[...]
-
(ii) under the terms or conditions of
[...]
-
[...]
-
(iv) at a particular time after October 23, 1979 and before November 13, 1981, a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquired a share that
-
[...]
-
(B) was issued to a person other than a corporation that was, at the time of issue,
-
[...]
-
(II) a corporation that was controlled by one or more corporations described in subclause (I) and, for the purpose of this subclause, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length,
-
(C) was acquired from a person that was, at the particular time, a person other than a corporation described in subclause (B)(I) or (II), and
-
(v) at any particular time after November 12, 1981
[...]
[...]
[...]
-
(i) where the terms or conditions of a share of the capital stock of the issuing corporation are modified or established after June 28, 1982 and as a consequence thereof the issuing corporation, any person related thereto or any partnership or trust of which the issuing corporation or a person related thereto is a member or a beneficiary may reasonably be expected at any time to redeem, acquire or cancel, in whole or in part, the share or to reduce its paid-up capital, the share shall be deemed as from the date of the modification or as from the date of the establishment, as the case may be, to be a share described in paragraph (a),
-
(i.1) where
-
[...]
-
(ii) it may reasonably be considered that the share was issued or acquired as part of a transaction or event or series of transactions or events one of the main purposes of which was to avoid or limit the application of subsection 112(2.1), 138(6) or 258(3),
[...]
-
[...]
-
(j) where a particular share of the capital stock of a corporation has been issued or its terms and conditions have been modified and it may reasonably be considered, having regard to all circumstances (including the rate of interest on any debt or the dividend provided on any term preferred share), that
[...]
- testamentary trust
-
testamentary trust has the meaning assigned by subsection 108(1); (fiducie testamentaire)
- treaty-protected business
-
treaty-protected business of a taxpayer at any time means a business in respect of which any income of the taxpayer for a period that includes that time would, because of a tax treaty with another country, be exempt from tax under Part I; (entreprise protégée par traité)
- treaty-protected property
-
treaty-protected property of a taxpayer at any time means property any income or gain from the disposition of which by the taxpayer at that time would, because of a tax treaty with another country, be exempt from tax under Part I; (bien protégé par traité)
- trust
-
trust has the meaning assigned by subsection 104(1) and, unless the context otherwise requires, includes an estate; (fiducie)
- unused RRSP deduction room
-
unused RRSP deduction room of a taxpayer at the end of a taxation year has the meaning assigned by subsection 146(1); (déductions inutilisées au titre des REER)
- unused scientific research and experimental development tax credit
-
unused scientific research and experimental development tax credit of a taxpayer for a taxation year has the meaning assigned by subsection 127.3(2); (partie inutilisée du crédit d’impôt pour des activités de recherche scientifique et de développement expérimental)
- unused share-purchase tax credit
-
unused share-purchase tax credit of a taxpayer for a taxation year has the meaning assigned by subsection 127.2(6); (partie inutilisée du crédit d’impôt à l’achat d’actions)
- zero-emission passenger vehicle
-
zero-emission passenger vehicle , of a taxpayer, means an automobile of the taxpayer that is included in Class 54 of Schedule II to the Income Tax Regulations; (voiture de tourisme zéro émission)
- zero-emission vehicle
-
zero-emission vehicle , of a taxpayer, means a motor vehicle that
-
(a) is a plug-in hybrid that meets prescribed conditions or is fully
-
[...]
-
(c) does not meet any of the following conditions:
-
[...]
-
(ii) it is a vehicle in respect of which assistance has been paid by the Government of Canada under a prescribed program, and
-
(iii) if the vehicle was acquired before March 2, 2020, either
-
(d) would be an accelerated investment incentive property of the taxpayer if subsection 1104(4) of the Income Tax Regulations were read without its exclusions for property included in Class 54 or Class 55 of Schedule II to those Regulations. (véhicule zéro émission)