Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.))

Marginal note:Definitions

• 160.5 (1) The following definitions apply in this section.

  designated financial institution

  designated financial institution has the same meaning as in subsection 153(6). (institution financière désignée)

  electronic payment

  electronic payment means any payment or remittance to the Receiver General that is made through electronic services offered by a designated financial institution or by any electronic means specified by the Minister. (paiement électronique)

• Marginal note:Requirement – electronic payments

  (2) The remittance or payment of an amount to the Receiver General must be made as an electronic payment if the amount of the remittance or payment exceeds $10,000, unless the payor or remitter cannot reasonably remit or pay the amount in that manner.