Income Tax Act

Marginal note:Return and payment of tax

• 207 (1) Every person who is liable to pay tax under this Part for a calendar year shall within 90 days after the end of the year

  • (a) file with the Minister a return for the year under this Part in prescribed form and containing prescribed information including

    • (i) an estimate of the amount of tax payable under this Part by the person for the year, and

    • (ii) an estimate of the amount of any refund to which the person is entitled under this Part for the year; and

  • (b) pay to the Receiver General the amount, if any, by which the amount of the person’s tax payable under this Part for the year exceeds the person’s allowable refund for the year.

• Marginal note:Refund

  (2) Where a person has filed a return under this Part for a calendar year within three years after the end of the year, the Minister

  • (a) may, on mailing the notice of assessment for the year, refund without application any allowable refund of the person for the year, to the extent that it was not applied against the person’s tax payable under paragraph (1)(b); and

  • (b) shall, with all due dispatch, make the refund referred to in paragraph (a) after mailing the notice of assessment if an application for it has been made in writing by the person within three years after the mailing of an original notice of assessment for the year.

• Marginal note:Multiple holders

  (3) Where two or more holders of a registered disability savings plan are jointly and severally, or solidarily, liable with each other to pay a tax under this Part for a calendar year in connection with the plan,

  • (a) a payment by any of the holders on account of that tax liability shall to the extent of the payment discharge the joint liability; and

  • (b) a return filed by one of the holders as required by this Part for the year is deemed to have been filed by each other holder in respect of the joint liability to which the return relates.

• Marginal note:Provisions applicable to Part

  (4) Subsections 150(2) and (3), sections 152 and 158 to 167 and Division J of Part I apply to this Part with any modifications that the circumstances require.