Sustaining Canada’s Economic Recovery Act (S.C. 2010, c. 25)

Assented to 2010-12-15

R.S., c. C-8Canada Pension Plan

Marginal note:2009, c. 31, s. 30(3)

 Paragraphs 38(4)(a) and (b) of the Canada Pension Plan are replaced by the following:

  • (a) may refund that part of the amount so paid in excess of the contribution on sending the notice of assessment of the contribution, without any application having been made for the refund; and

  • (b) shall make such a refund after sending the notice of assessment, if application is made in writing by the contributor not later than four years — or, in the case of a contributor who is notified after the coming into force of this paragraph of a decision under subsection 60(7), 81(2), 82(11) or 83(11) in respect of a disability pension, ten years — after the end of the year.

1996, c. 23Employment Insurance Act

 Subsection 85(4) of the Employment Insurance Act is replaced by the following:

  • Marginal note:Mailing or sending date

    (4) The day of mailing or sending, as the case may be, of a notice of assessment described in subsection (2) is, in the absence of any evidence to the contrary, deemed to be the day appearing from the notice to be the date of the notice unless called into question by the Minister or by a person acting for the Minister or for Her Majesty.

  • Marginal note:Date electronic notice sent

    (5) For the purposes of this Act, if a notice or other communication in respect of a person or partnership is made available in electronic format such that it can be read or perceived by a person or a computer system or other similar device, the notice or other communication is presumed to be sent to the person or partnership and received by the person or partnership on the date that an electronic message is sent, to the electronic address most recently provided before that date by the person or partnership to the Minister for the purposes of this subsection, informing the person or partnership that a notice or other communication requiring the person or partnership’s immediate attention is available in the person or partnership’s secure electronic account. A notice or other communication is considered to be made available if it is posted by the Minister in the person or partnership’s secure electronic account and the person or partnership has authorized that notices or other communications may be made available in this manner and has not before that date revoked that authorization in a manner specified by the Minister.

 Subsection 102(14) of the Act is replaced by the following:

  • Marginal note:Date assessment made

    (14) If a notice of assessment has been sent by the Minister as required by this Part, the assessment is deemed to have been made on the day on which the notice is sent.

Marginal note:2009, c. 33, s. 16

 Paragraphs 152.3(1)(a) and (b) of the Act are replaced by the following:

  • (a) may refund that part of the amount so paid in excess of the premium on sending the notice of assessment of the premium, without any application having been made for the refund; and

  • (b) shall make the refund after sending the notice of assessment, if an application for the refund is made in writing by the self-employed person not later than three years after the end of the year.

2006, c. 4, s. 168Universal Child Care Benefit Act

  •  (1) Section 2 of the Universal Child Care Benefit Act is amended by adding the following in alphabetical order:

    “shared-custody parent”

    « parent ayant la garde partagée »

    “shared-custody parent” has the meaning assigned by section 122.6 of the Income Tax Act.

  • (2) Subsection (1) applies after June 2011.

  •  (1) Subsection 4(1) of the Act is replaced by the following:

    Marginal note:Amount of payment
    • 4. (1) The Minister shall pay to an eligible individual, for each month at the beginning of which he or she is an eligible individual, for each child who is a qualified dependant of the eligible individual at the beginning of that month,

      • (a) a benefit of $50, if the eligible individual is a shared-custody parent of the qualified dependant; and

      • (b) a benefit of $100 in any other case.

  • (2) Subsection (1) applies to payments in respect of months after June 2011.

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

  •  (1) The definition “food waste” in subsection 1104(13) of the Income Tax Regulations is repealed.

  • (2) The definitions “biogas”, “district energy system” and “eligible waste fuel” in subsection 1104(13) of the Regulations are replaced by the following:

    “biogas”

    “biogas” means the gas produced by the anaerobic digestion of organic waste that is sludge from an eligible sewage treatment facility, food and animal waste, manure, plant residue or wood waste. (biogaz)

    “district energy system”

    “district energy system” means a system that is used primarily to provide heating or cooling by continuously circulating, from a central generation unit to one or more buildings through a system of interconnected pipes, an energy transfer medium that is heated or cooled using thermal energy. (réseau énergétique de quartier)

    “eligible waste fuel”

    “eligible waste fuel” means biogas, bio-oil, digester gas, landfill gas, municipal waste, pulp and paper waste and wood waste. (combustible résiduaire admissible)

  • (3) Subsection 1104(13) of the Regulations is amended by adding the following in alphabetical order:

    “food and animal waste”

    “food and animal waste” means organic waste that is disposed of in accordance with the laws of Canada or a province and that is

    • (a) generated during the preparation or processing of food for human or animal consumption;

    • (b) food that is no longer fit for human or animal consumption; or

    • (c) animal remains. (déchets alimentaires et animaux)

  • (4) Subsections (1) to (3) apply to property acquired after February 25, 2008, except that the definition “district energy system” in subsection 1104(13) of Regulations, as enacted by subsection (2), applies to property acquired after March 3, 2010.

  •  (1) Paragraph 1219(1)(f) of the Regulations is replaced by the following:

    • (f) for the drilling or completion of a well for the project, other than a well that is, or can reasonably be expected to be, used for the installation of underground piping that is included in paragraph (d) of Class 43.1 or paragraph (b) of Class 43.2 in Schedule II; or

  • (2) Subsection (1) applies to expenses incurred after May 2, 2010.

  •  (1) Section 1402 of the Regulations is replaced by the following:

    1402. Any amount determined under section 1400 or 1401 shall be determined

    • (a) net of relevant reinsurance recoverable amounts; and

    • (b) without reference to any amount in respect of a deposit accounting insurance policy.

  • (2) Subsection (1) applies to taxation years that begin after 2010.

  •  (1) Section 1406 of the Regulations is replaced by the following:

    1406. Any amount determined under section 1404 or 1405 shall be determined

    • (a) net of relevant reinsurance recoverable amounts;

    • (b) without reference to any liability in respect of a segregated fund (other than a liability in respect of a guarantee in respect of a segregated fund policy); and

    • (c) without reference to any amount in respect of a deposit accounting insurance policy.

  • (2) Subsection (1) applies to taxation years that begin after 2010.

  •  (1) Subsection 1408(1) of the Regulations is amended by adding the following in alphabetical order:

    “deposit accounting insurance policy”

    “deposit accounting insurance policy” has the meaning assigned by subsection 138(12) of the Act. (police d’assurance à comptabilité de dépôt)

    “reinsurance recoverable amount”

    “reinsurance recoverable amount” of an insurer means an amount reported as a reinsurance asset of the insurer as at the end of a taxation year in respect of an amount recoverable from a reinsurer. (somme à recouvrer au titre de la réassurance)

  • (2) Section 1408 of the Regulations is amended by adding the following after subsection (7):

    • (8) A reference in this Part to an amount or item reported as an asset or a liability of an insurer as at the end of a taxation year means

      • (a) if reporting by the insurer to the insurer’s relevant authority is required at the end of the year, an amount or item that is reported, as at the end of the year, as an asset or a liability in the insurer’s non-consolidated balance sheet accepted by the insurer’s relevant authority; and

      • (b) in any other case, an amount or item that is reported as an asset or a liability in a non-consolidated balance sheet that is prepared in a manner consistent with the requirements that would have applied had reporting to the insurer’s relevant authority been required at the end of the year.

  • (3) Subsections (1) and (2) apply to taxation years that begin after 2010.

  •  (1) The definitions “Canadian reserve liabilities” and “reinsurance recoverable” in subsection 2400(1) of the Regulations are replaced by the following:

    “Canadian reserve liabilities”

    “Canadian reserve liabilities” of an insurer as at the end of a taxation year means the amount determined by the formula

    A – B

    where

    A 
    is the total of the insurer’s liabilities and reserves (other than liabilities and reserves in respect of a segregated fund) as at the end of the year in respect of
    • (a) life insurance policies in Canada,

    • (b) fire insurance policies issued or effected in respect of property situated in Canada, and

    • (c) insurance policies of any other class covering risks ordinarily within Canada at the time the policy was issued or effected; and

    B 
    is the total of the reinsurance recoverable reported as a reinsurance asset by the insurer as at the end of the year relating to its liabilities and reserves in A. (passif de réserve canadienne)
    “reinsurance recoverable”

    “reinsurance recoverable” of an insurer means the total of all amounts each of which is an amount reported as a reinsurance asset of the insurer as at the end of a taxation year in respect of an amount recoverable from a reinsurer. (montant à recouvrer au titre de la réassurance)

  • (2) The description of B in subparagraph (a)(i) of the definition “Canadian investment fund” in subsection 2400(1) of the Regulations is replaced by the following:

    B 
    is the amount of the insurer’s Canadian outstanding premiums and policy loans as at the end of the year (to the extent that the amount of the premiums and loans are in respect of policies referred to in paragraphs (a) to (c) of the description of A in the definition “Canadian reserve liabilities” and were not otherwise deducted in computing the amount of the insurer’s Canadian reserve liabilities as at the end of the year), and
  • (3) Clause (b)(i)(A) of the definition “Canadian investment fund” in subsection 2400(1) of the Regulations is replaced by the following:

    • (A) the amount of the insurer’s Canadian outstanding premiums and policy loans (to the extent that the amount of the premiums or loans are in respect of policies referred to in paragraphs (a) to (c) of the description of A in the definition “Canadian reserve liabilities” and were not otherwise deducted in computing the amount of the insurer’s Canadian reserve liabilities as at the end of the year), and

  • (4) Subparagraph (b)(i) of the definition “equity limit” in subsection 2400(1) of the Regulations is replaced by the following:

    • (i) the amount, if any, by which the insurer’s mean Canadian reserve liabilities for the year exceeds 50% of the total of its premiums receivable and deferred acquisition expenses as at the end of the year and its premiums receivable and deferred acquisition expenses as at the end of its preceding taxation year to the extent that those amounts were included in the insurer’s Canadian reserve liabilities for the year or the preceding taxation year, as the case may be, in respect of the insurer’s business in Canada, and

  • (5) Subparagraph (a)(ii) of the definition “weighted Canadian liabilities” in subsection 2400(1) of the Regulations is replaced by the following:

    • (ii) the total of

      • (A) the insurer’s policy loans (other than policy loans in respect of annuities) as at the end of the year, and

      • (B) the reinsurance recoverable reported by the insurer as at the end of the year relating to its liabilities described in subparagraph (i), and

  • (6) Subparagraph (b)(ii) of the definition “weighted Canadian liabilities” in subsection 2400(1) of the Regulations is replaced by the following:

    • (ii) the total of

      • (A) the insurer’s policy loans in respect of annuities as at the end of the year, and

      • (B) the reinsurance recoverable reported by the insurer as at the end of the year relating to its liabilities described in subparagraph (i). (passif canadien pondéré)

  • (7) Subparagraph (a)(ii) of the definition “weighted total liabilities” in subsection 2400(1) of the Regulations is replaced by the following:

    • (ii) the total of

      • (A) the insurer’s policy loans and foreign policy loans (other than policy loans and foreign policy loans in respect of annuities) as at the end of the year, and

      • (B) the reinsurance recoverable reported by the insurer as at the end of the year relating to its liabilities described in subparagraph (i), and

  • (8) Subparagraph (b)(ii) of the definition “weighted total liabilities” in subsection 2400(1) of the Regulations is replaced by the following:

    • (ii) the total of

      • (A) the insurer’s policy loans and foreign policy loans in respect of annuities as at the end of the year, and

      • (B) the reinsurance recoverable reported by the insurer as at the end of the year relating to its liabilities described in subparagraph (i). (passif total pondéré)

  • (9) Section 2400 of the Regulations is amended by adding the following after subsection (8):

    • (9) A computation that is required to be made under this Part in respect of an insurer’s taxation year that included December 31, 2010 and that is relevant to a computation (in this subsection referred to as the “transition year computation”) that is required to be made under this Part in respect of the insurer’s first taxation year that begins after that date shall, for the purposes only of the transition year computation, be made using the same definitions, rules and methodologies that are used in the transition year computation.

  • (10) Subsections (1) to (9) apply to taxation years that begin after 2010.

 
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