Technical Tax Amendments Act, 2012 (S.C. 2013, c. 34)

Assented to 2013-06-26

  •  (1) The Act is amended by adding, after section 262, the schedule set out in the schedule to this Act.

  • (2) Subject to subsection (3), subsection (1) is deemed to have come into force on December 20, 2002.

  • (3) Subsection (1) is deemed to have come into force to enact the schedule set out in that subsection so as to, as of the dates set out below, list each of the following corporations in the schedule:

    • (a) 2419726 Canada Inc., January 1, 1998, except that, in its application

      • (i) after May 1999 and before April 2002, the reference in the schedule to that corporation is to be read as a reference to “CitiFinancial Canada, Inc./CitiFinancière Canada, Inc.”, and

      • (ii) after 1997 and before June 1999, the reference in the schedule to that corporation is to be read as a reference to “Commercial Credit Corporation CCC Limited/Corporation De Credit Commerciale CCC Limitee”;

    • (b) Ally Credit Canada Limited/Ally Crédit Canada Limitée, January 1, 1991, except that, in its application after 1990 and before August 23, 2010, the reference in the schedule to that corporation is to be read as a reference to “General Motors Acceptance Corporation of Canada Limited”;

    • (c) AmeriCredit Financial Services of Canada Ltd., June 30, 2001;

    • (d) Canaccord Capital Credit Corporation/Corporation de crédit Canaccord capital, September 25, 2000;

    • (e) Canaccord Financial Holdings Inc./Corporation financière Canaccord Inc., January 1, 2004;

    • (f) Citibank Canada Investment Funds Limited, December 31, 2001;

    • (g) Citicapital Commercial Corporation/Citicapital Corporation Commerciale, January 1, 2000, except that, in its application after 1999 and before July 2001, the reference in the schedule to that corporation is to be read as a reference to “Associates Commercial Corporation of Canada Ltd./Les Associés, Corporation Commerciale du Canada Ltee”;

    • (h) Citi Cards Canada Inc./Cartes Citi Canada Inc., September 25, 2003;

    • (i) Citi Commerce Solutions of Canada Ltd., January 1, 2003;

    • (j) CitiFinancial Canada East Company/CitiFinancière, corporation du Canada Est, December 23, 1997, except that, in its application

      • (i) after April 2001 and before April 2002, the reference in the schedule to that corporation is to be read as a reference to “CitiFinancial Services of Canada East Company/CitiFinancière, compagnie de services du Canada Est”,

      • (ii) after September 26, 1999 and before May 2001, the reference in the schedule to that corporation is to be read as a reference to “Associates Financial Services of Canada East Company/Les Associés, Compagnie de Services Financiers du Canada Est”,

      • (iii) after February 12, 1998 and before September 27, 1999, the reference in the schedule to that corporation is to be read as a reference to “Avco Financial Services Canada East Company/Compagnie Services Financiers Avco Canada Est”,

      • (iv) after December 29, 1997 and before February 13, 1998, the reference in the schedule to that corporation is to be read as a reference to “Avco Financial Services Canada East Company/Services Financiers Avco Canada Est Compagnie”, and

      • (v) after December 22, 1997 and before December 30, 1997, the reference in the schedule to that corporation is to be read as a reference to “Avco Financial Services Canada East Company”;

    • (k) CitiFinancial Canada, Inc./CitiFinancière Canada, Inc., March 2, 1998, except that, in its application

      • (i) after April 2001 and before April 2002, the reference in the schedule to that corporation is to be read as a reference to “CitiFinancial Services of Canada, Ltd./CitiFinancière, services du Canada, Ltée”, and

      • (ii) after March 1, 1998 and before May 2001, the reference in the schedule to that corporation is to be read as a reference to “Associates Financial  Services of Canada Ltd./Les Associés, Services Financières du Canada Ltée”;

    • (l) CitiFinancial Mortgage Corporation/CitiFinancière, corporation de prêts hypothécaires, March 2, 1998, except that, in its application after March 1, 1998 and before May 2001, the reference in the schedule to that corporation is to be read as a reference to “Associates Mortgage Corporation/Les Associés, Corporation de Prêts Hypothécaires”;

    • (m) CitiFinancial Mortgage East Corporation/CitiFinancière, corporation de prêts hypothécaires de l’Est, December 23, 1997, except that, in its application

      • (i) after November 2, 1999 and before May 2001, the reference in the schedule to that corporation is to be read as a reference to “Associates Mortgage East Corporation/Les Associés, Corporation de Prêts Hypothécaires de l’Est”,

      • (ii) after September 27, 1999 and before November 3, 1999, the reference in the schedule to that corporation is to be read as a reference to “Associates Mortgage East Corporation/Les Associés, Corporation de Financiers du Prêts Hypothécaires de l’Est”,

      • (iii) after February 12, 1998 and before September 28, 1999, the reference in the schedule to that corporation is to be read as a reference to “Avco Financial Services Realty East Company/Compagnie Services Financiers Immobiliers Avco Est”,

      • (iv) after December 29, 1997 and before February 13, 1998, the reference in the schedule to that corporation is to be read as a reference to “Avco Financial Services Realty East Company/Services Financiers Immobiliers Avco Est Compagnie”, and

      • (v) after December 22, 1997 and before December 30, 1997, the reference in the schedule to that corporation is to be read as a reference to “Avco Financial Services Realty East Company”;

    • (n) Citigroup Finance Canada Inc., January 1, 1998, except that, in its application after 1997 and before June 11, 2003, the reference in the schedule to that corporation is to be read as a reference to “Associates Capital Corporation of Canada/Corporation de capital associés du Canada”;

    • (o) Ford Credit Canada Limited, December 23, 1997;

    • (p) GE Card Services Canada Inc./GE Services de Cartes du Canada Inc., August 2, 2000;

    • (q) GMAC Residential Funding of Canada, Limited, January 1, 2003;

    • (r) John Deere Credit Inc./Crédit John Deere Inc., January 1, 1999;

    • (s) PACCAR Financial Ltd./Compagnie Financière Paccar Ltée, January 1, 2003;

    • (t) Paradigm Fund Inc./Le Fonds Paradigm Inc., January 1, 2002;

    • (uPrêts étudiants Atlantique Inc./Atlantic Student Loans Inc., January 1, 1998, except that, in its application after 1997 and before June 13, 2002, the reference in the schedule to that corporation is to be read as a reference to “Prêts étudiants Acadie Inc./Acadia Student Loans Inc.”;

    • (v) State Farm Finance Corporation of Canada/ Corporation de Crédit State Farm du Canada, January 1, 2002, except that, in its application after 2001 and before May 2002, the reference in the schedule to that corporation is to be read as a reference to “VNB Financial Services Inc./Services financiers VNB, Inc.”;

    • (w) Trans Canada Retail Services Company/Société de services de détails trans Canada, January 1, 1999, except that, in its application after 1998 and before January 15, 2002, the reference in the schedule to that corporation is to be read as a reference to “National Retail Credit Services Company/Société de services de crédit aux détaillants national”; and

    • (x) Wells Fargo Financial Canada Corporation, January 1, 1999, except that, in its application after 1998 and before September 7, 2001, the reference in the schedule to that corporation is to be read as a reference to “Norwest Financial Canada Company”.

  • (4) Ford Credit Canada Limited is deemed to have been, from July 1, 1989 to December 22, 1997, prescribed by a regulation made under paragraph 181(1)(g) of the Act.

  • (5) The schedule, as enacted by subsection (1), is amended by removing from the list, as of the dates set out below, the following corporations:

    • (a) GE Card Services Canada Inc./ GE Services Cartes du Canada Inc., January 1, 2003;

    • (b) 2419726 Canada Inc., March 31, 2002;

    • (c) CitiFinancial Mortgage Corporation/CitiFinancière, corporation de prêts hypothécaires, March 31, 2002; and

    • (d) CitiFinancial Mortgage East Corporation/CitiFinancière, corporation de prêts hypothécaires de l’Est, April 1, 2002.

 If a provision of this Part applies or comes into force before the day on which this Act receives royal assent, for the purpose of and to the extent necessary to take into account that provision, in applying subsection 152(4.2) of the Act to a taxation year that ends before that day, that subsection is to be read as follows:

  • (4.2) Notwithstanding subsections (4), (4.1) and (5), for the purpose of determining, at any time after the end of the normal reassessment period of a taxpayer in respect of a taxation year, an amount payable under this Part by the taxpayer for the taxation year, the Minister may, if the taxpayer makes an application for that determination,

    • (a) reassess tax, interest or penalties payable under this Part by the taxpayer in respect of that taxation year; and

    • (b) redetermine the amount, if any, deemed by subsection 120(2) or (2.2), 122.5(3), 122.51(2), 122.7(2) or (3), 125.4(3), 125.5(3), 127.1(1), 127.41(3) or 210.2(3) or (4) to be paid on account of the taxpayer’s tax payable under this Part for the year or deemed by subsection 122.61(1) to be an overpayment on account of the taxpayer’s liability under this Part for the taxation year.

2003, c. 28An Act to amend the Income Tax Act (natural resources)

  •  (1) The portion of subsection 2(5) of An Act to Amend the Income Tax Act (Natural Resources) before paragraph (a) is replaced by the following:

    • (5) For each taxation year that ends after 2002 and begins before 2008, paragraph 18(1)(m) of the Act applies, notwithstanding paragraph 20(1)(v) of the Act, only to the percentage of each amount described by paragraph 18(1)(m) of the Act that is the total of:

  • (2) Subsection 2(7) of the Act is replaced by the following:

    • (7) Subsection (3) applies to taxation years that begin after 2007.

 
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