T-0.1, for a reporting period under that Act,(i)at the particular time that is the earlier of the time that the Quebec sales tax in respect of the input tax refund was paid and the time that it became payable,(A)if the particular time is in the reporting period, or(B)if,(I)the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is greater than $500,000 for the taxpayer’s fiscal year (within the meaning assigned by that Act) that includes the particular time, and(II)the taxpayer claimed the input tax refund at least 120 days before the end of the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer in respect of the taxation year that includes the particular time,(ii)at the end of the reporting period, if(A)subparagraph (i) does not apply, and(B)the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is $500,000 or less for the fiscal year (within the meaning assigned by that Act) of the taxpayer that includes the particular time, and(iii)in any other case, on the last day of the taxpayer’s earliest taxation year(A)that begins after the taxation year that includes the particular time, and(B)for which the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer ends at least 120 days after the time that the input tax refund was claimed; or(b)where the amount was claimed as a rebate with respect to the Quebec sales tax, at the time the amount was received or credited.
(i)at the particular time that is the earlier of the time that the Quebec sales tax in respect of the input tax refund was paid and the time that it became payable,(A)if the particular time is in the reporting period, or(B)if,(I)the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is greater than $500,000 for the taxpayer’s fiscal year (within the meaning assigned by that Act) that includes the particular time, and(II)the taxpayer claimed the input tax refund at least 120 days before the end of the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer in respect of the taxation year that includes the particular time,(ii)at the end of the reporting period, if(A)subparagraph (i) does not apply, and(B)the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is $500,000 or less for the fiscal year (within the meaning assigned by that Act) of the taxpayer that includes the particular time, and(iii)in any other case, on the last day of the taxpayer’s earliest taxation year(A)that begins after the taxation year that includes the particular time, and(B)for which the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer ends at least 120 days after the time that the input tax refund was claimed; or
(A)if the particular time is in the reporting period, or(B)if,(I)the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is greater than $500,000 for the taxpayer’s fiscal year (within the meaning assigned by that Act) that includes the particular time, and(II)the taxpayer claimed the input tax refund at least 120 days before the end of the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer in respect of the taxation year that includes the particular time,
(I)the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is greater than $500,000 for the taxpayer’s fiscal year (within the meaning assigned by that Act) that includes the particular time, and(II)the taxpayer claimed the input tax refund at least 120 days before the end of the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer in respect of the taxation year that includes the particular time,
(A)subparagraph (i) does not apply, and(B)the taxpayer’s threshold amount, determined in accordance with section 462 of that Act is $500,000 or less for the fiscal year (within the meaning assigned by that Act) of the taxpayer that includes the particular time, and
(A)that begins after the taxation year that includes the particular time, and(B)for which the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer ends at least 120 days after the time that the input tax refund was claimed; or
(i)at the beginning of the first taxation year or fiscal period of the taxpayer commencing after the end of the taxation year or fiscal period, as the case may be, in which the goods and services tax in respect of such property was considered for the purposes of determining the input tax credit to be payable, if the tax was considered for the purposes of determining the input tax credit to have become payable in the reporting period, or(ii)if no such tax was considered for the purposes of determining the input tax credit to have become payable in the reporting period, at the end of the reporting period; or
(i)at the beginning of the first taxation year or fiscal period of the taxpayer that begins after the end of the taxation year or fiscal period, as the case may be, in which the Quebec sales tax in respect of such property was considered for the purposes of determining the input tax refund to be payable, if the tax was considered for the purposes of determining the input tax refund to have become payable in the reporting period, or(ii)if no such tax was considered for the purposes of determining the input tax refund to have become payable in the reporting period, at the end of the reporting period; or
(a)each such person who had, immediately before that time, an interest in, or for civil law a right in, the property (which interest or right in the property is referred to in this subsection and subsection (21) as an “interest” or a “right”, as the case may be) is deemed not to have disposed at that time of that proportion, not exceeding 100%, of the interest or right that the fair market value of that person’s interest or right in the property immediately after that time is of the fair market value of that person’s interest or right in the property immediately before that time,(b)each such person who has an interest or a right in the property immediately after that time is deemed not to have acquired at that time that proportion of the interest or right that the fair market value of that person’s interest or right in the property immediately before that time is of the fair market value of that person’s interest or right in the property immediately after that time,(c)each such person who had an interest or a right in the property immediately before that time is deemed to have had until that time, and to have disposed at that time of, that proportion of the person’s interest or right to which paragraph (a) does not apply,(d)each such person who has an interest or a right in the property immediately after that time is deemed not to have had before that time, and to have acquired at that time, that proportion of the person’s interest or right to which paragraph (b) does not apply, and(e)paragraphs (a) to (d) do not apply if the interest or right of the person is an interest or a right in fungible tangible property, or for civil law fungible corporeal property described in that person’s inventory,
(a)subsection (20) does not apply to the property, and(b)the new interest or right of each such person is deemed to be a continuation of that person’s undivided interest or right in the property immediately before the partition,
(c)subdivisions of a building or of a parcel of land that are established in the course of, or in contemplation of, a partition and that are co-owned by the same persons who co-owned the building or the parcel of land, or by their assignee, shall be regarded as one property, and(d)if an interest or a right in the property is or includes an undivided interest or right, the fair market value of the interest or right shall be determined without regard to any discount or premium that applies to a minority or majority interest or right in the property.
(a)where that property was owned by one of the spouses or common-law partners immediately before it became subject to that regime and had not subsequently been disposed of before that time, it shall be deemed to be owned at that time by that spouse or common-law partner and not by the other spouse or common-law partner; and(b)in any other case, the property shall be deemed to be owned by the spouse or common-law partner who has the administration of that property at that time and not by the other spouse or common-law partner.
(a)transferred or distributed to a person who was the taxpayer’s spouse or common-law partner at the time of the death, or acquired by that person, the property shall be deemed to have been so transferred, distributed or acquired, as the case may be, as a consequence of the death; or(b)transferred or distributed to the taxpayer’s estate, or acquired by the taxpayer’s estate, the property shall be deemed to have been so transferred, distributed or acquired, as the case may be, immediately before the time that is immediately before the death.
(a)a person or partnership beneficially interested in a particular trust includes any person or partnership that has any right (whether immediate or future, whether absolute or contingent or whether conditional on or subject to the exercise of any discretion by any person or partnership) as a beneficiary under a trust to receive any of the income or capital of the particular trust either directly from the particular trust or indirectly through one or more trusts or partnerships;(b)except for the purpose of this paragraph, a particular person or partnership is deemed to be beneficially interested in a particular trust at a particular time where(i)the particular person or partnership is not beneficially interested in the particular trust at the particular time,(ii)because of the terms or conditions of the particular trust or any arrangement in respect of the particular trust at the particular time, the particular person or partnership might, because of the exercise of any discretion by any person or partnership, become beneficially interested in the particular trust at the particular time or at a later time, and(iii)at or before the particular time, either(A)the particular trust has acquired property, directly or indirectly in any manner whatever, from(I)the particular person or partnership,(II)another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length,(III)a person or partnership with whom the other person referred to in subclause 248(25)(b)(iii)(A)(II) does not deal at arm’s length,(IV)a controlled foreign affiliate of the particular person or of another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length, or(V)a non-resident corporation that would, if the particular partnership were a corporation resident in Canada, be a controlled foreign affiliate of the particular partnership, or(B)a person or partnership described in any of subclauses 248(25)(b)(iii)(A)(I) to 248(25)(b)(iii)(A)(V) has given a guarantee on behalf of the particular trust or provided any other financial assistance whatever to the particular trust; and(c)a member of a partnership that is beneficially interested in a trust is deemed to be beneficially interested in the trust.
(i)the particular person or partnership is not beneficially interested in the particular trust at the particular time,(ii)because of the terms or conditions of the particular trust or any arrangement in respect of the particular trust at the particular time, the particular person or partnership might, because of the exercise of any discretion by any person or partnership, become beneficially interested in the particular trust at the particular time or at a later time, and(iii)at or before the particular time, either(A)the particular trust has acquired property, directly or indirectly in any manner whatever, from(I)the particular person or partnership,(II)another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length,(III)a person or partnership with whom the other person referred to in subclause 248(25)(b)(iii)(A)(II) does not deal at arm’s length,(IV)a controlled foreign affiliate of the particular person or of another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length, or(V)a non-resident corporation that would, if the particular partnership were a corporation resident in Canada, be a controlled foreign affiliate of the particular partnership, or(B)a person or partnership described in any of subclauses 248(25)(b)(iii)(A)(I) to 248(25)(b)(iii)(A)(V) has given a guarantee on behalf of the particular trust or provided any other financial assistance whatever to the particular trust; and
(A)the particular trust has acquired property, directly or indirectly in any manner whatever, from(I)the particular person or partnership,(II)another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length,(III)a person or partnership with whom the other person referred to in subclause 248(25)(b)(iii)(A)(II) does not deal at arm’s length,(IV)a controlled foreign affiliate of the particular person or of another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length, or(V)a non-resident corporation that would, if the particular partnership were a corporation resident in Canada, be a controlled foreign affiliate of the particular partnership, or(B)a person or partnership described in any of subclauses 248(25)(b)(iii)(A)(I) to 248(25)(b)(iii)(A)(V) has given a guarantee on behalf of the particular trust or provided any other financial assistance whatever to the particular trust; and
(I)the particular person or partnership,(II)another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length,(III)a person or partnership with whom the other person referred to in subclause 248(25)(b)(iii)(A)(II) does not deal at arm’s length,(IV)a controlled foreign affiliate of the particular person or of another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length, or(V)a non-resident corporation that would, if the particular partnership were a corporation resident in Canada, be a controlled foreign affiliate of the particular partnership, or
(a)the other trust is deemed to be after that time the same trust as, and a continuation of, the particular trust; and(b)for greater certainty, if, as a result of a transaction or event, the property was deemed to be taxable Canadian property of the particular trust by any of paragraphs 51(1)(f), 85(1)(i) and 85.1(1)(a), subsection 85.1(5), paragraph 85.1(8)(b), subsections 87(4) and (5) and paragraphs 97(2)(c) and 107(3.1)(d), the property is also deemed to be, at any time that is within 60 months after the transaction or event, taxable Canadian property of the other trust.
(a)the trust issues the particular unit to the taxpayer directly in satisfaction of a right to enforce payment of an amount by the trust in respect of the taxpayer’s capital interest in the trust;(b)at the time that the particular unit is issued, the trust is neither a personal trust nor a trust prescribed for the purpose of subsection 107(2); and(c)either(i)the particular unit is capital property and the amount is not proceeds of disposition of a capital interest in the trust, or(ii)the particular unit is not capital property and subparagraph 53(2)(h)(i.1) does not apply in respect of the amount described in paragraph (a) but would so apply if that subparagraph were read without reference to clauses 53(2)(h)(i.1)(A) and (B).
(i)the particular unit is capital property and the amount is not proceeds of disposition of a capital interest in the trust, or(ii)the particular unit is not capital property and subparagraph 53(2)(h)(i.1) does not apply in respect of the amount described in paragraph (a) but would so apply if that subparagraph were read without reference to clauses 53(2)(h)(i.1)(A) and (B).
(a)immediately after the particular time there is a disposition by the taxpayer of the capital interest;(b)as a consequence of the disposition, the right to enforce payment of the amount is acquired by another person or partnership; and(c)if the right to enforce payment of the amount had been satisfied by a payment to the taxpayer by the trust, there would have been no disposition of that right for the purposes of this Act because of the application of paragraph (i) of the definitiondispositionin subsection (1).
(a)as consideration for any property acquired by the debtor or services rendered to the debtor, or(b)that is deductible in computing the debtor’s income,
(a)unless the context requires otherwise, an obligation issued by a debtor includes any part of a larger obligation that was issued by the debtor;(b)the principal amount of that part shall be considered to be the portion of the principal amount of that larger obligation that relates to that part; and(c)the amount for which that part was issued shall be considered to be the portion of the amount for which that larger obligation was issued that relates to that part.
(a)to require the inclusion or permit the deduction, either directly or indirectly, in computing a taxpayer’s income, taxable income or taxable income earned in Canada, for a taxation year or in computing a taxpayer’s income or loss for a taxation year from a particular source or from sources in a particular place, of any amount to the extent that the amount has already been directly or indirectly included or deducted, as the case may be, in computing such income, taxable income, taxable income earned in Canada or loss, for the year or any preceding taxation year;(b)to permit the deduction, either directly or indirectly, in computing a taxpayer’s tax payable under any Part of this Act for a taxation year of any amount to the extent that the amount has already been directly or indirectly deducted in computing such tax payable for the year or any preceding taxation year; or(c)to consider an amount to have been paid on account of a taxpayer’s tax payable under any Part of this Act for a taxation year to the extent that the amount has already been considered to have been paid on account of such tax payable for the year or any preceding taxation year.
(a)the amount of the advantage does not exceed 80% of the fair market value of the transferred property; or(b)the transferor of the property establishes to the satisfaction of the Minister that the transfer was made with the intention to make a gift.
(a)the total of all amounts, other than an amount referred to in paragraph (b), each of which is the value, at the time the gift or monetary contribution is made, of any property, service, compensation, use or other benefit that the taxpayer, or a person or partnership who does not deal at arm’s length with the taxpayer, has received, obtained or enjoyed, or is entitled, either immediately or in the future and either absolutely or contingently, to receive, obtain, or enjoy(i)that is consideration for the gift or monetary contribution,(ii)that is in gratitude for the gift or monetary contribution, or(iii)that is in any other way related to the gift or monetary contribution, and(b)the limited-recourse debt, determined under subsection 143.2(6.1), in respect of the gift or monetary contribution at the time the gift or monetary contribution is made.
(i)that is consideration for the gift or monetary contribution,(ii)that is in gratitude for the gift or monetary contribution, or(iii)that is in any other way related to the gift or monetary contribution, and
(a)if the former limited-recourse debt is in respect of the original gift, for the purposes of sections 110.1 and 118.1, the taxpayer is deemed to have made in the taxation year a gift to a qualified donee, the eligible amount of which deemed gift is the amount, if any, by which(i)the amount that would have been the eligible amount of the original gift, if the total of all such repaid amounts paid at or before that time were paid immediately before the original gift was made,exceeds(ii)the total of(A)the eligible amount of the original gift, and(B)the eligible amount of all other gifts deemed by this paragraph to have been made before that time in respect of the original gift; and(b)if the former limited-recourse debt is in respect of the original monetary contribution, for the purposes of subsection 127(3), the taxpayer is deemed to have made in the taxation year a monetary contribution referred to in that subsection, the eligible amount of which is the amount, if any, by which(i)the amount that would have been the eligible amount of the original monetary contribution, if the total of all such repaid amounts paid at or before that time were paid immediately before the original monetary contribution was made,exceeds(ii)the total of(A)the eligible amount of the original monetary contribution, and(B)the eligible amount of all other monetary contributions deemed by this paragraph to have been made before that time in respect of the original monetary contribution.
(i)the amount that would have been the eligible amount of the original gift, if the total of all such repaid amounts paid at or before that time were paid immediately before the original gift was made,
(ii)the total of(A)the eligible amount of the original gift, and(B)the eligible amount of all other gifts deemed by this paragraph to have been made before that time in respect of the original gift; and
(A)the eligible amount of the original gift, and(B)the eligible amount of all other gifts deemed by this paragraph to have been made before that time in respect of the original gift; and
(i)the amount that would have been the eligible amount of the original monetary contribution, if the total of all such repaid amounts paid at or before that time were paid immediately before the original monetary contribution was made,
(ii)the total of(A)the eligible amount of the original monetary contribution, and(B)the eligible amount of all other monetary contributions deemed by this paragraph to have been made before that time in respect of the original monetary contribution.
(A)the eligible amount of the original monetary contribution, and(B)the eligible amount of all other monetary contributions deemed by this paragraph to have been made before that time in respect of the original monetary contribution.
(a)the taxpayer acquired the property under a gifting arrangement that is a tax shelter as defined in subsection 237.1(1); or(b)except where the gift is made as a consequence of the taxpayer’s death,(i)the taxpayer acquired the property less than three years before the day that the gift is made, or(ii)the taxpayer acquired the property less than 10 years before the day that the gift is made and it is reasonable to conclude that, at the time the taxpayer acquired the property, one of the main reasons for the acquisition was to make a gift of the property to a qualified donee.
(i)the taxpayer acquired the property less than three years before the day that the gift is made, or(ii)the taxpayer acquired the property less than 10 years before the day that the gift is made and it is reasonable to conclude that, at the time the taxpayer acquired the property, one of the main reasons for the acquisition was to make a gift of the property to a qualified donee.
(a)of inventory;(b)of real property or an immovable situated in Canada;(c)of an object referred to in subparagraph 39(1)(a)(i.1), other than an object acquired under a gifting arrangement (as defined in subsection 237.1(1)) that is a tax shelter;(d)of property to which paragraph 38(a.1) or (a.2) applies;(e)of a share of the capital stock of a corporation if(i)the share was issued by the corporation to the donor,(ii)immediately before the gift, the corporation was controlled by the donor, a person related to the donor or a group of persons each of whom is related to the donor, and(iii)subsection (35) would not have applied in respect of the consideration for which the share was issued had that consideration been donated by the donor to the qualified donee when the share was so donated;(f)by a corporation of property if(i)the property was acquired by the corporation in circumstances to which subsection 85(1) or (2) applied,(ii)immediately before the gift, the shareholder from whom the corporation acquired the property controlled the corporation or was related to a person or each member of a group of persons that controlled the corporation, and(iii)subsection (35) would not have applied in respect of the property had the property not been transferred to the corporation and had the shareholder made the gift to the qualified donee when the corporation so made the gift; or(g)of a property that was acquired in circumstances where subsection 70(6) or (9) or 73(1), (3) or (4) applied, unless subsection (36) would have applied if this subsection were read without reference to this paragraph.
(i)the share was issued by the corporation to the donor,(ii)immediately before the gift, the corporation was controlled by the donor, a person related to the donor or a group of persons each of whom is related to the donor, and(iii)subsection (35) would not have applied in respect of the consideration for which the share was issued had that consideration been donated by the donor to the qualified donee when the share was so donated;
(i)the property was acquired by the corporation in circumstances to which subsection 85(1) or (2) applied,(ii)immediately before the gift, the shareholder from whom the corporation acquired the property controlled the corporation or was related to a person or each member of a group of persons that controlled the corporation, and(iii)subsection (35) would not have applied in respect of the property had the property not been transferred to the corporation and had the shareholder made the gift to the qualified donee when the corporation so made the gift; or
(a)one of the purposes of which is to avoid the application of subsection (35) to a gift of any property; or(b)that would, if this Act were read without reference to this paragraph, result in a tax benefit to which subsection 245(2) applies.
(a)for the purpose of subsection (31), the fair market value of the property that is the subject of the gift or monetary contribution made by the taxpayer is deemed to be that proportion of the lesser of the fair market value of the substantive gift and the cost, or if the substantive gift is capital property of the taxpayer, the adjusted cost base, of the substantive gift to the taxpayer immediately before the disposition to the recipient, that the fair market value otherwise determined of the property that is the subject of the gift or monetary contribution is of the proceeds of disposition of the substantive gift; and(b)if the substantive gift is capital property of the taxpayer, for the purpose of the definitionsproceeds of dispositionof property in subsection 13(21) and section 54, the sale price of the substantive gift is to be reduced by the amount by which the fair market value of the property that is the subject of the gift (determined without reference to this section) exceeds the fair market value determined under paragraph (a).(c)[Repealed, 2016, c. 12, s. 63]
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]R.S., 1985, c. 1 (5th Supp.), s. 2481994, c. 7, Sch