Income Tax Conventions Interpretation Act (R.S.C., 1985, c. I-4)

Act current to 2018-10-24 and last amended on 2013-06-26. Previous Versions

Interpretation (continued)

  •  (1) [Repealed, 1999, c. 22, s. 85]

  • Definition of specified portion

    (2) For the purpose of the definition periodic pension payment in section 5, the specified portion of a payment means the total of

    • (a) the portion of the payment that is not required by section 146.3 of the Income Tax Act to be included in computing the income of any person and that is not included under paragraph 212(1)(q) of that Act in respect of any person; and

    • (b) the portion of the payment in respect of which a deduction is available under paragraph 60(l) of the Income Tax Act in computing the income of any person.

  • 1993, c. 24, s. 148;
  • 1998, c. 19, s. 287;
  • 1999, c. 22, s. 85.

Meaning of interest

 Notwithstanding section 3, the meaning of the term interest in any convention given the force of law in Canada before November 19, 1974 does not include any amount paid or credited, pursuant to an agreement in writing entered into before June 23, 1983, as consideration for a guarantee referred to in paragraph 214(15)(a) of the Income Tax Act.

  • 1984, c. 48, s. 6.

Marginal note:Transitional

 Where a taxation year of a taxpayer includes June 23, 1983, the additional tax payable under the Income Tax Act (except Part XIII thereof) by the taxpayer for the taxation year by virtue of this Act shall be calculated in accordance with the following formula:

A = T × (B/C)

where

A
is the amount of additional taxes payable under the Income Tax Act (except Part XIII thereof) by the taxpayer for the taxation year by virtue of this Act,
T
is the amount of additional taxes payable under the Income Tax Act (except Part XIII thereof) by the taxpayer for the taxation year by virtue of this Act (except this section),
B
is the number of days in the taxation year after June 23, 1983, and
C
is the number of days in the taxation year.
  • R.S., 1985, c. 48 (1st Supp.), s. 2.

Marginal note:Partnerships

 Notwithstanding the provisions of a convention between Canada and another state or the Act giving it the force of law in Canada, it is hereby declared that the law of Canada is that, for the purposes of the application of the convention and the Income Tax Act to a person who is a resident of Canada, a partnership of which that person is a member is neither a resident nor an enterprise of that other state.

  • 1991, c. 49, s. 220.

Marginal note:Gains arising in Canada

 Except where a convention expressly otherwise provides, any amount of income, gain or loss in respect of the disposition of a property that is taxable Canadian property within the meaning assigned by the Income Tax Act is deemed to arise in Canada.

  • 1999, c. 22, s. 86.

Application

Marginal note:Application

 This Act applies

  • (a) in the case of tax under Part XIII of the Income Tax Act, to amounts paid or credited after June 23, 1983; and

  • (b) in all other cases, to taxation years ending after June 23, 1983.

  • 1984, c. 48, s. 7.
 
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