Technical Tax Amendments Act, 2012 (S.C. 2013, c. 34)
Full Document:
Assented to 2013-06-26
143. (1) The portion of subsection 160.2(4) of the English version of the Act before paragraph (a) is replaced by the following:
Marginal note:Rules applicable
(4) If a taxpayer and an annuitant have, by virtue of subsection (1) or (2), become jointly and severally, or solidarily, liable in respect of part or all of a liability of the annuitant under this Act, the following rules apply:
(2) Paragraph 160.2(4)(a) of the Act is replaced by the following:
(a) a payment by the taxpayer on account of the taxpayer’s liability shall to the extent thereof discharge their liability; but
(3) Paragraph 160.2(4)(b) of the English version of the Act is replaced by the following:
(b) a payment by the annuitant on account of the annuitant’s liability discharges the taxpayer’s liability only to the extent that the payment operates to reduce the annuitant’s liability to an amount less than the amount in respect of which the taxpayer was, by subsection (1) or (2), as the case may be, made jointly and severally, or solidarily, liable.
144. (1) The portion of subsection 160.3(3) of the English version of the Act before paragraph (a) is replaced by the following:
Marginal note:Rules applicable
(3) If a taxpayer and another person have, by virtue of subsection (1), become jointly and severally, or solidarily, liable in respect of part or all of a liability of the taxpayer under this Act, the following rules apply:
(2) Paragraph 160.3(3)(a) of the Act is replaced by the following:
(a) a payment by the other person on account of the other person’s liability shall to the extent thereof discharge their liability; but
(3) Paragraph 160.3(3)(b) of the English version of the Act is replaced by the following:
(b) a payment by the taxpayer on account of the taxpayer’s liability discharges the other person’s liability only to the extent that the payment operates to reduce the taxpayer’s liability to an amount less than the amount in respect of which the other person was, by subsection (1), made jointly and severally, or solidarily, liable.
145. (1) The portion of subsection 160.4(4) of the English version of the Act before paragraph (a) is replaced by the following:
Marginal note:Rules applicable
(4) If a corporation and another person have, because of subsection (1) or (2), become jointly and severally, or solidarily, liable in respect of part or all of a liability of the corporation under this Act
(2) Paragraph 160.4(4)(a) of the Act is replaced by the following:
(a) a payment by the other person on account of that person’s liability shall to the extent thereof discharge their liability; and
(3) Paragraph 160.4(4)(b) of the English version of the Act is replaced by the following:
(b) a payment by the corporation on account of the corporation’s liability discharges the other person’s liability only to the extent that the payment operates to reduce the corporation’s liability to an amount less than the amount in respect of which the other person was, by subsection (1) or (2), as the case may be, made jointly and severally, or solidarily, liable.
146. Subparagraph 163.2(8)(b)(i) of the French version of the Act is replaced by the following:
(i) une part a ou doit avoir un numéro d’inscription attribué en vertu de l’article 237.1 qui est le même numéro que celui qui s’applique à chacune des autres parts dans le bien,
147. Paragraph (d) of the definition “financial institution” in subsection 181(1) of the Act is replaced by the following:
(d) authorized under the laws of Canada or a province to accept deposits from the public and carries on the business of lending money on the security of real property or immovables or investing in indebtedness on the security of mortgages on real property or of hypothecs on immovables,
148. (1) Paragraph 181.3(1)(a) of the Act is replaced by the following:
(a) the total of all amounts each of which is the carrying value at the end of the year of an asset of the financial institution (other than property held by the institution primarily for the purpose of resale that was acquired by the financial institution, in the year or the preceding taxation year, as a consequence of another person’s default, or anticipated default, in respect of a debt owed to the institution) that is tangible, or for civil law corporeal, property used in Canada and, in the case of a financial institution that is an insurance corporation, that is non-segregated property, within the meaning assigned by subsection 138(12),
(2) Subparagraph 181.3(1)(b)(i) of the Act is replaced by the following:
(i) the total of all amounts each of which is the carrying value of an asset of the partnership, at the end of its last fiscal period ending at or before the end of the year, that is tangible, or for civil law corporeal, property used in Canada
149. Subparagraph 181.4(d)(i) of the Act is replaced by the following:
(i) is a ship or aircraft operated by the corporation in international traffic or is personal or movable property used in its business of transporting passengers or goods by ship or aircraft in international traffic, and
150. (1) The portion of subsection 185(4) of the English version of the Act before paragraph (a) is replaced by the following:
Marginal note:Joint and several, or solidary, liability from excessive elections
(4) Each person who has received a dividend from a corporation in respect of which the corporation elected under subsection 83(2), 130.1(4) or 131(1) is jointly and severally, or solidarily, liable with the corporation to pay that proportion of the corporation’s tax payable under this Part because of the election that
(2) The portion of subsection 185(6) of the English version of the Act before paragraph (a) is replaced by the following:
Marginal note:Rules applicable
(6) If under subsection (4) a corporation and another person have become jointly and severally, or solidarily, liable to pay part or all of the corporation’s tax payable under this Part in respect of a dividend described in that subsection,
(3) Paragraph 185(6)(a) of the Act is replaced by the following:
(a) a payment at any time by the other person on account of the liability shall, to the extent of the payment, discharge their liability after that time; and
151. Subsection 188(4) of the English version of the Act is replaced by the following:
Marginal note:Joint and several, or solidary, liability — tax transfer
(4) If property has been transferred to a charitable organization in circumstances described in subsection (3) and it may reasonably be considered that the organization acted in concert with a charitable foundation for the purpose of reducing the disbursement quota of the foundation, the organization is jointly and severally, or solidarily, liable with the foundation for the tax imposed on the foundation by that subsection in an amount not exceeding the net value of the property.
152. Paragraph (c) of the definition “financial institution” in subsection 190(1) of the Act is replaced by the following:
(c) is authorized under the laws of Canada or a province to accept deposits from the public and carries on the business of lending money on the security of real property or immovables or investing in indebtedness on the security of mortgages on real property or of hypothecs on immovables,
153. (1) Paragraph 191.3(1)(e) of the English version of the Act is replaced by the following:
(e) the transferor corporation and the transferee corporation are jointly and severally, or solidarily, liable to pay the amount of tax specified in the agreement and any interest or penalty in respect thereof.
(2) Subsection 191.3(5) of the English version of the Act is replaced by the following:
Marginal note:Assessment of transferor corporation
(5) The Minister may at any time assess a transferor corporation in respect of any amount for which it is jointly and severally, or solidarily, liable by reason of paragraph (1)(e) and the provisions of Division I of Part I are applicable in respect of the assessment as though it had been made under section 152.
(3) The portion of subsection 191.3(6) of the English version of the Act before paragraph (a) is replaced by the following:
Marginal note:Payment by transferor corporation
(6) If a transferor corporation and a transferee corporation are by reason of paragraph (1)(e) jointly and severally, or solidarily, liable in respect of tax payable by the transferee corporation under subparagraph 191.1(1)(a)(iv) and any interest or penalty in respect thereof, the following rules apply:
(4) Paragraph 191.3(6)(a) of the Act is replaced by the following:
(a) a payment by the transferor corporation on account of the liability shall, to the extent thereof, discharge their liability; and
(5) Paragraph 191.3(6)(b) of the English version of the Act is replaced by the following:
(b) a payment by the transferee corporation on account of its liability discharges the transferor corporation’s liability only to the extent that the payment operates to reduce the transferee corporation’s liability under this Act to an amount less than the amount in respect of which the transferor corporation was, by paragraph (1)(e), made jointly and severally, or solidarily, liable.
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