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Budget Implementation Act, 2018, No. 1 (S.C. 2018, c. 12)

Assented to 2018-06-21

PART 1Amendments to the Income Tax Act and to Related Legislation (continued)

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

  •  (1) The portion of subsection 189(6.3) of the Act before paragraph (a) is replaced by the following:

    • Marginal note:Reduction of liability for penalties

      (6.3) If the Minister has assessed a particular person in respect of the particular person’s liability for penalties under section 188.1 for a taxation year, and that liability exceeds $1,000, that liability is, at any particular time, reduced by the total of all amounts, each of which is an amount, in respect of a property transferred by the particular person after the day on which the Minister first assessed that liability and before the particular time to another person that was at the time of the transfer an eligible donee described in paragraph 188(1.3)(a) in respect of the particular person, equal to the amount, if any, by which the fair market value of the property, when transferred, exceeds the total of

  • (2) Subsection (1) applies in respect of transfers of property made on or after February 27, 2018.

  •  (1) Paragraph 221(1)(d.1) of the Act is replaced by the following:

    • (d.1) requiring any person or partnership to provide any information — including their name, address, business number, Social Insurance Number or trust account number — to any class of persons required to make an information return containing that information;

  • (2) Subsection (1) applies to the 2018 and subsequent taxation years.

  •  (1) Subsections 237(1.1) to (3) of the Act are replaced by the following:

    • Marginal note:Production of number

      (1.1) Every person and partnership shall provide their designated number

      • (a) in any return filed under this Act; and

      • (b) to another person or partnership at the request of the other person or partnership, if the other person or partnership is required to make an information return pursuant to this Act or the Regulations requiring the designated number.

    • Marginal note:Designated number

      (1.2) For the purpose of subsection (1.1), designated number, of a person or partnership, means

      • (a) in the case of an individual (other than a trust), their Social Insurance Number;

      • (b) in the case of a trust, its trust account number; and

      • (c) in any other case, the person’s or partnership’s business number.

    • Marginal note:Number required in information returns

      (2) For the purposes of this Act and the Regulations, a person or partnership required to make an information return requiring a business number, Social Insurance Number or trust account number of another person or partnership

      • (a) shall make a reasonable effort to obtain the number from the other person or partnership; and

      • (b) shall not knowingly use, communicate or allow to be communicated, otherwise than as required or authorized under this Act or a regulation, the number without the written consent of the other person or partnership.

    • Marginal note:Authority to communicate number

      (3) A particular person may communicate, or allow to be communicated, a business number, Social Insurance Number or trust account number to another person related to the particular person where the other person is required, by this Act or the Regulations, to make an information return that requires the number.

  • (2) The portion of subsection 237(4) of the Act before paragraph (a) is replaced by the following:

    • Marginal note:Authority to communicate number

      (4) An insurance corporation may communicate, or allow to be communicated, to another person the business number, Social Insurance Number or trust account number of a particular person or partnership if

  • (3) Paragraph 237(4)(c) of the Act is replaced by the following:

    • (c) the other person is required, by this Act or the Regulations, to make an information return, in respect of the disposition of the share or income from the share, that requires the number.

  • (4) Subsections (1) to (3) apply to the 2018 and subsequent taxation years.

  •  (1) Paragraph 237.1(7)(a) of the Act is replaced by the following:

    • (a) the name, address and the business number, Social Insurance Number or trust account number of each person who so acquires or otherwise invests in the tax shelter in the year,

  • (2) Subsection (1) applies to the 2018 and subsequent taxation years.

  •  (1) Subsection 239(2.3) of the Act is replaced by the following:

    • Marginal note:Offence with respect to an identification number

      (2.3) Every person to whom the business number of a taxpayer or partnership, to whom the Social Insurance Number of an individual or to whom the trust account number of a trust has been provided under this Act or the Regulations, and every officer, employee and agent of such a person, who without written consent of the individual, taxpayer, partnership or trust, as the case may be, knowingly uses, communicates or allows to be communicated the number (otherwise than as required or authorized by law, in the course of duties in connection with the administration or enforcement of this Act or for a purpose for which it was provided by the individual, taxpayer, partnership or trust, as the case may be) is guilty of an offence and liable on summary conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 12 months, or to both.

  • (2) Subsection (1) applies to the 2018 and subsequent taxation years.

  •  (1) Paragraph 241(4)(j.1) of the Act is replaced by the following:

    • (j.1) provide taxpayer information to an official or a designated person solely for the purpose of permitting the making of an adjustment to a social assistance payment made on the basis of a means, needs or income test if the purpose of the adjustment is to take into account

      • (i) the amount determined in respect of a person for C in subsection 122.61(1), as it read before July 2018, in respect of a base taxation year (as defined in section 122.6) before 2017, or

      • (ii) an amount determined in respect of a person under subsection 122.61(1) or (1.1) in respect of a base taxation year (as defined in section 122.6) after 2014;

  • (2) Subsection (1) comes into force or is deemed to have come into force on July 1, 2018.

  •  (1) The portion of the definition business number in subsection 248(1) of the Act before paragraph (a) is replaced by the following:

    business number

    business number means the number (other than a Social Insurance Number or trust account number) used by the Minister to identify

  • (2) Subsection 248(1) of the Act is amended by adding the following in alphabetical order:

    trust account number

    trust account number means the number (other than a business number)

    • (a) used by the Minister to identify a trust, and

    • (b) of which the Minister has notified the trust; (numéro de compte en fiducie)

  • (3) Subsections (1) and (2) apply to the 2018 and subsequent taxation years.

Deemed Coming into Force

Marginal note:Definition of eligible individual

 Subparagraph (e)(v) of the definition eligible individual in section 122.6 of the Act, as enacted by subsection 28(1) of the Budget Implementation Act, 2016, No. 1, is deemed to have come into force on January 1, 2005.

 
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