Budget Implementation Act, 2019, No. 1 (S.C. 2019, c. 29)

• (a) that is a Canadian exploration expense incurred by a corporation after March 2019 and before 2025 (including, for greater certainty, an expense that is deemed by subsection 66(12.66) to be incurred before 2025) in conducting mining exploration activity from or above the surface of the earth for the purpose of determining the existence, location, extent or quality of a mineral resource described in paragraph (a) or (d) of the definition mineral resource in subsection 248(1),

• (c) an amount in respect of which is renounced in accordance with subsection 66(12.6) by the corporation to the taxpayer (or a partnership of which the taxpayer is a member) under an agreement described in that subsection and made after March 2019 and before April 2024, and

• (d) that is not an expense that was renounced under subsection 66(12.6) to the corporation (or a partnership of which the corporation is a member), unless that renunciation was under an agreement described in that subsection and made after March 2019 and before April 2024; (dépense minière déterminée)

• Marginal note:Expenditure limit

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

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

  where

  A

  is

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

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

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

  • (b) in any other case, the lesser of $40 million and the amount by which the amount determined under subparagraph (a)(i) or (ii), as the case may be, exceeds $10 million.

• (d) if the trust earns income from a business in the year, then the portion of the amount payable in the year to a particular participating member of the congregation out of the income of the trust under paragraph (a) that can reasonably be considered to relate to that income from a business is deemed to be income from a business carried on by the particular member.

but except for the purposes of paragraph (b) of the definition benefit in this subsection, paragraph (2)(b.3), subsection (22) and the definition excluded premium in subsection 146.02(1), does not include a repayment to which paragraph (b) or (d) of the definition excluded withdrawal in subsection 146.01(1), or paragraph (b) of the definition excluded withdrawal in subsection 146.02(1), applies or an amount that is designated under subsection 146.01(3) or 146.02(3); (prime)

• (d) a particular amount (other than an eligible amount) received while the individual was resident in Canada and in a calendar year if

  • (i) the particular amount would be a regular eligible amount if subsection (2.1) were read without reference to its subparagraph (a)(iii),

  • (ii) a payment (other than an excluded premium) equal to the particular amount is made by the individual under a retirement saving plan that is, at the end of the taxation year of the payment, a registered retirement savings plan under which the individual is the annuitant, and

  • (iii) the payment is made before the end of the second calendar year after the calendar year that includes the particular time referred to in subsection (2.1); (retrait exclu)

• (h) the total of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $35,000, and

• (g) the total of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $35,000, and

• Marginal note:Marriage or common-law partnership

  (2.1) Notwithstanding paragraph (2)(a.1), for the purposes of the definition regular eligible amount,

  • (a) an individual, and a spouse or common-law partner of the individual, are deemed not to have an owner-occupied home in a period ending before a particular time referred to in that definition if

    • (i) at the particular time, the individual

      • (A) is living separate and apart from the individual’s spouse or common-law partner because of a breakdown of their marriage or common-law partnership,

      • (B) has been living separate and apart from the individual’s spouse or common-law partner for a period of at least 90 days, and

      • (C) began living separate and apart from the individual’s spouse or common-law partner in the calendar year that includes the particular time or any time in the four preceding calendar years,

    • (ii) in the absence of this subsection, the individual would not be precluded from having a regular eligible amount because of the application of paragraph (f) of that definition in respect of a spouse or common-law partner (other than the spouse or common-law partner referred to in clauses (i)(A) to (C)), and

    • (iii) where the individual has an owner-occupied home at the particular time,

      • (A) the home is not the qualifying home referred to in that definition and the individual disposes of the home no later than the end of the second calendar year after the calendar year that includes the particular time, or

      • (B) the individual acquires the interest, or for civil law the right, of the spouse or common-law partner in the home; and

  • (b) if an individual to whom paragraph (a) applies has an owner-occupied home at the particular time referred to in that paragraph and the individual acquires the interest, or for civil law the right, of a spouse or common-law partner in the home, the individual is deemed for the purposes of paragraphs (c) and (d) of that definition to have acquired a qualifying home on the date that the individual acquired the interest or the right.

• (a) the total of all amounts (other than excluded premiums, repayments to which paragraph (b) or (d) of the definition excluded withdrawal in subsection (1) applies and amounts paid by the individual in the first 60 days of the year that can reasonably be considered to have been deducted in computing the individual’s income, or designated under this subsection, for the preceding taxation year) paid by the individual in the year or within 60 days after the end of the year under a retirement savings plan that is at the end of the year or the following taxation year a registered retirement savings plan under which the individual is the annuitant, and

• (b) was a repayment to which paragraph (b) or (d) of the definition excluded withdrawal in subsection 146.01(1) applies;

• Marginal note:Carrying on a business

  (6.1) If tax is payable under this Part for a taxation year because of subsection (6) by a trust that is governed by a TFSA that carries on one or more businesses at any time in the taxation year,

  • (a) the holder of the TFSA is jointly and severally, or solidarily, liable with the trust to pay each amount payable under this Act by the trust that is attributable to that business or those businesses; and

  • (b) the issuer’s liability at any time for amounts payable under this Act in respect of that business or those businesses shall not exceed the total of

    • (i) the amount of property of the trust that the issuer is in possession or control of at that time in its capacity as legal representative of the trust, and

    • (ii) the total amount of all distributions of property from the trust on or after the date that the notice of assessment was sent in respect of the taxation year and before that time.

• Marginal note:Registered journalism organizations

  (h) a registered journalism organization;

• (b.1) a registered journalism organization,

qualifying journalism organization

qualifying journalism organization means a corporation or trust that meets the following conditions:

• (a) it is a qualified Canadian journalism organization,

• (b) it is constituted and operated for purposes exclusively related to journalism,

• (c) any business activities it carries on are related to its purposes,

• (d) it has trustees or a board of directors, each of whom deals at arm’s length with each other,

• (e) it is not controlled, directly or indirectly in any manner whatever, by a person or by a group of persons that do not deal with each other at arm’s length,

• (f) it may not, in a taxation year, receive gifts from any one source that represent more than 20% of its total revenues (including donations) for the taxation year, other than a gift

  • (i) made by way of bequest,

  • (ii) made within 12 months after the time the organization is first registered, or

  • (iii) approved, on a case-by-case basis, by the Minister, and

• (g) no part of its income is payable to, or otherwise available for the personal benefit of, any proprietor, member, shareholder, director, trustee, settlor or like individual; (organisation journalistique admissible)

• Marginal note:Revocation of a qualified donee

  (4.3) The Minister may, in the manner described in section 168, revoke the registration of a qualified donee referred to in paragraph (a) or (b.1) of the definition qualified donee in subsection (1) for any reason described in subsection 168(1).

• Marginal note:Information returns

  (14.1) Every registered journalism organization shall, within six months from the end of each taxation year of the organization without notice or demand, file with the Minister both an information return and a public information return for the year in prescribed form and containing prescribed information including, for the public information return, for each donor whose total gifts to the organization in the year exceed $5,000, the name of the donor and the total amount donated.

• (a) the information contained in a public information return referred to in subsection 149.1(14) or (14.1) shall be communicated or otherwise made available to the public by the Minister in such manner as the Minister deems appropriate;

• (b) the Minister may make available to the public in any manner that the Minister considers appropriate, in respect of each registered, or previously registered, charity, Canadian amateur athletic association, journalism organization and qualified donee referred to in paragraph (a) of the definition qualified donee in subsection (1),

  • (i) its name, address and date of registration,

  • (ii) in the case of a registered, or previously registered, charity, Canadian amateur athletic association or journalism organization, its registration number, and

  • (iii) the effective date of any revocation, annulment or termination of registration; and

• Marginal note:Refusal to register

  (22) The Minister may, by registered mail, give notice to a person that the application of the person for registration as a registered charity, registered Canadian amateur athletic association, registered journalism organization or qualified donee referred to in subparagraph (a)(i) or (iii) of the definition qualified donee in subsection (1) is refused.

• (b) the amount of tax, if any, deemed by subsection 120(2) or (2.2), 122.5(3), 122.51(2), 122.7(2) or (3), 122.8(4), 122.9(2), 122.91(1), 125.4(3), 125.5(3), 125.6(2), 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.

• (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), 122.8(4), 122.9(2), 122.91(1), 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 year.