Eastern Daylight Saving Time, June 18, 1987 under an agreement in writing entered into before that time, or after that time and before 1988 as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice filed before that time with a public authority under and in accordance with the securities legislation of the jurisdiction in which the debt obligation is distributed,
(i)was issued before that time, that was issued after that time under an agreement in writing entered into before that time or that was issued after that time and before 1988 as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice filed before that time with a public authority under and in accordance with the securities legislation of the jurisdiction in which the rights were distributed, and(ii)was listed on a designated stock exchange,
(a)all amounts received in the year or receivable in the year (depending on the method regularly followed by the taxpayer in computing the taxpayer’s income) otherwise than as or on account of capital, and(b)all amounts (other than amounts referred to in paragraph (a)) included in computing the taxpayer’s income from a business or property for the year because of subsection 12(3) or (4) or section 12.2 of this Act or subsection 12(8) of theIncome Tax Act, chapter 148 of the Revised Statutes of Canada, 1952; (revenu brut)
(a)amounts payable on the death or disability of individuals whose lives are insured in respect of, in the course of or because of, their office or employment or former office or employment, and(b)policy dividends or experience rating refunds; (police d’assurance-vie collective temporaire)
(a)the distance between the old residence and the new work location is at least 40 kilometres greater than the distance between the new residence and the new work location,(b)the loan is used to acquire a dwelling, or a share of the capital stock of a cooperative housing corporation acquired for the sole purpose of acquiring the right to inhabit a dwelling owned by the corporation, where the dwelling is for the habitation of the individual and is the individual’s new residence,(c)the loan is received in the circumstances described in subsection 80.4(1), or would have been so received if subsection 80.4(1.1) had applied to the loan at the time it was received, and(d)the loan is designated by the individual to be a home relocation loan, but in no case shall more than one loan in respect of a particular move, or more than one loan at any particular time, be designated as a home relocation loan by the individual; (prêt à la réinstallation)
(a)that is an income-averaging annuity contract within the meaning assigned by subsection 61(4), and(b)in respect of which the individual has made a deduction under section 61 in computing the individual’s income for a taxation year; (contrat de rente à versements invariables)
(a)before November 17, 1978,(b)after November 16, 1978 and before 1980 pursuant to an agreement in writing to do so made before November 17, 1978 (in this definition referred to as an “established agreement”), or(c)by an issuing corporation resident in Canada for a term that may not, in any circumstances, exceed 5 years,(i)as part of a proposal to or an arrangement with its creditors that had been approved by a court under theBankruptcy and Insolvency Act,(ii)at a time when all or substantially all of its assets were under the control of a receiver, receiver-manager, sequestrator or trustee in bankruptcy, or(iii)at a time when, by reason of financial difficulty, the issuing corporation or another corporation resident in Canada with which it does not deal at arm’s length was in default, or could reasonably be expected to default, on a debt obligation held by a person with whom the issuing corporation or the other corporation was dealing at arm’s length and the bond or debenture was issued either wholly or in substantial part and either directly or indirectly in exchange or substitution for that obligation or a part thereof,and, in the case of a bond or debenture issued after November 12, 1981, the proceeds from the issue may reasonably be regarded as having been used by the issuing corporation or a corporation with which it was not dealing at arm’s length in the financing of its business carried on in Canada immediately before the bond or debenture was issued,
(i)as part of a proposal to or an arrangement with its creditors that had been approved by a court under theBankruptcy and Insolvency Act,(ii)at a time when all or substantially all of its assets were under the control of a receiver, receiver-manager, sequestrator or trustee in bankruptcy, or(iii)at a time when, by reason of financial difficulty, the issuing corporation or another corporation resident in Canada with which it does not deal at arm’s length was in default, or could reasonably be expected to default, on a debt obligation held by a person with whom the issuing corporation or the other corporation was dealing at arm’s length and the bond or debenture was issued either wholly or in substantial part and either directly or indirectly in exchange or substitution for that obligation or a part thereof,
(d)where the terms or conditions of an established agreement were amended after November 16, 1978, the agreement shall be deemed to have been made after that date, and(e)where(i)at any particular time the terms or conditions of a bond or debenture issued pursuant to an established agreement or of any agreement relating to such a bond or debenture have been changed,(ii)under the terms or conditions of a bond or debenture acquired in the ordinary course of the business carried on by a specified financial institution or a partnership or trust (other than a testamentary trust) or under the terms or conditions of any agreement relating to any such bond or debenture (other than an agreement made before October 24, 1979 to which the issuing corporation or any person related thereto was not a party), the owner thereof could at any particular time after November 16, 1978 require, either alone or together with one or more taxpayers, the repayment, acquisition, cancellation or conversion of the bond or debenture otherwise than by reason of a failure or default under the terms or conditions of the bond or debenture or any agreement that related to, and was entered into at the time of, the issuance of the bond or debenture,(iii)at any particular time after November 16, 1978, the maturity date of a bond or debenture was extended or the terms or conditions relating to the repayment of the principal amount thereof were changed,(iv)at a particular time a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquires a bond or debenture that(A)was issued before November 17, 1978 or under an established agreement,(B)was issued to a person other than a corporation that was, at the time of issue,(I)described in any of paragraphs (a) to (e) of the definitionspecified financial institution, or(II)a corporation that was controlled by one or more corporations described in subclause (I) and, for the purpose of this subclause, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length,(C)was acquired from a person that was, at the time the person last acquired the bond or debenture and at the particular time, a person other than a corporation described in any of paragraphs (a) to (f) of that definition, and(D)was acquired otherwise than under an agreement in writing made before October 24, 1979, or(v)at a particular time after November 12, 1981, a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquires a bond or debenture that(A)was not a bond or debenture referred to in paragraph (c),(B)was acquired from a person that was, at the particular time, a corporation described in any of paragraphs (a) to (f) of the definitionspecified financial institution, and(C)was acquired subject to or conditional on a guarantee agreement (within the meaning that would be assigned by subsection 112(2.2) if the reference in that subsection to a “share” were read as a reference to an “income bond” or “income debenture”) that was entered into after November 12, 1981,the bond or debenture shall, for the purposes of determining at any time after the particular time whether it is an income bond or income debenture, be deemed to have been issued at the particular time otherwise than pursuant to an established agreement; (obligation à intérêt conditionnel)
(i)at any particular time the terms or conditions of a bond or debenture issued pursuant to an established agreement or of any agreement relating to such a bond or debenture have been changed,(ii)under the terms or conditions of a bond or debenture acquired in the ordinary course of the business carried on by a specified financial institution or a partnership or trust (other than a testamentary trust) or under the terms or conditions of any agreement relating to any such bond or debenture (other than an agreement made before October 24, 1979 to which the issuing corporation or any person related thereto was not a party), the owner thereof could at any particular time after November 16, 1978 require, either alone or together with one or more taxpayers, the repayment, acquisition, cancellation or conversion of the bond or debenture otherwise than by reason of a failure or default under the terms or conditions of the bond or debenture or any agreement that related to, and was entered into at the time of, the issuance of the bond or debenture,(iii)at any particular time after November 16, 1978, the maturity date of a bond or debenture was extended or the terms or conditions relating to the repayment of the principal amount thereof were changed,(iv)at a particular time a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquires a bond or debenture that(A)was issued before November 17, 1978 or under an established agreement,(B)was issued to a person other than a corporation that was, at the time of issue,(I)described in any of paragraphs (a) to (e) of the definitionspecified financial institution, or(II)a corporation that was controlled by one or more corporations described in subclause (I) and, for the purpose of this subclause, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length,(C)was acquired from a person that was, at the time the person last acquired the bond or debenture and at the particular time, a person other than a corporation described in any of paragraphs (a) to (f) of that definition, and(D)was acquired otherwise than under an agreement in writing made before October 24, 1979, or(v)at a particular time after November 12, 1981, a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquires a bond or debenture that(A)was not a bond or debenture referred to in paragraph (c),(B)was acquired from a person that was, at the particular time, a corporation described in any of paragraphs (a) to (f) of the definitionspecified financial institution, and(C)was acquired subject to or conditional on a guarantee agreement (within the meaning that would be assigned by subsection 112(2.2) if the reference in that subsection to a “share” were read as a reference to an “income bond” or “income debenture”) that was entered into after November 12, 1981,
(A)was issued before November 17, 1978 or under an established agreement,(B)was issued to a person other than a corporation that was, at the time of issue,(I)described in any of paragraphs (a) to (e) of the definitionspecified financial institution, or(II)a corporation that was controlled by one or more corporations described in subclause (I) and, for the purpose of this subclause, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length,(C)was acquired from a person that was, at the time the person last acquired the bond or debenture and at the particular time, a person other than a corporation described in any of paragraphs (a) to (f) of that definition, and(D)was acquired otherwise than under an agreement in writing made before October 24, 1979, or
(I)described in any of paragraphs (a) to (e) of the definitionspecified financial institution, or(II)a corporation that was controlled by one or more corporations described in subclause (I) and, for the purpose of this subclause, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length,
(A)was not a bond or debenture referred to in paragraph (c),(B)was acquired from a person that was, at the particular time, a corporation described in any of paragraphs (a) to (f) of the definitionspecified financial institution, and(C)was acquired subject to or conditional on a guarantee agreement (within the meaning that would be assigned by subsection 112(2.2) if the reference in that subsection to a “share” were read as a reference to an “income bond” or “income debenture”) that was entered into after November 12, 1981,
(a)the offshore storing or processing of goods,(b)fishing,(c)laying cable,(d)salvaging,(e)towing,(f)tug-boating,(g)offshore oil and gas activities (other than the transportation of oil and gas), including exploration and drilling activities,(h)dredging, or(i)leasing a ship by a lessor to a lessee that has complete possession, control and command of the ship, unless the lessor or a corporation, trust or partnership affiliated with the lessor has an eligible interest (as defined in subsection 250(6.04)) in the lessee; (transport maritime international)
(a)from Canada to a place outside Canada,(b)from a place outside Canada to Canada, or(c)from a place outside Canada to another place outside Canada; (transport international)
(a)with respect to a farming business, all of the livestock held in the course of carrying on the business, and(b)an emissions allowance; (inventaire)
(a)a particular person or partnership becomes obligated after March 20, 2013 to repay an amount to another person or partnership (in this definition referred to as the “lender”) at a time determined by reference to the death of a particular individual whose life is insured under the policy, and(b)the lender is assigned an interest in(i)the policy, and(ii)an annuity contract the terms of which provide that payments are to continue for a period that ends no earlier than the death of the particular individual; (police RAL)
(i)the policy, and(ii)an annuity contract the terms of which provide that payments are to continue for a period that ends no earlier than the death of the particular individual; (police RAL)
(a)an annuities business, and(b)the business of issuing contracts all or any part of the issuer’s reserves for which vary in amount depending on the fair market value of a specified group of assets,
(a)theConvention on Mutual Administrative Assistance in Tax Matters, concluded at Strasbourg on January 25, 1988, as amended from time to time by a protocol, or other international instrument, as ratified by Canada, or(b)a comprehensive tax information exchange agreement that Canada has entered into and that has effect, in respect of another country or jurisdiction; (accord international désigné)
(a)whose share of the particular partnership’s income from all sources for the last fiscal period of the particular partnership that ended before that time (or, if the particular partnership’s first fiscal period includes that time, for that period) would have exceeded 1/2 of the particular partnership’s income from all sources for that period if the taxpayer had held throughout that period each interest in the partnership that the taxpayer or a person affiliated with the taxpayer held at that time, or(b)whose share, if any, together with the shares of every person with whom the taxpayer is affiliated, of the total amount that would be paid to all members of the particular partnership (otherwise than as a share of any income of the partnership) if it were wound up at that time exceeds 1/2 of that amount; (associé détenant une participation majoritaire)
(a)a base or precious metal deposit,(b)a coal deposit,(c)a bituminous sands deposit or oil shale deposit, or(d)a mineral deposit in respect of which(i)the Minister of Natural Resources has certified that the principal mineral extracted is an industrial mineral contained in a non-bedded deposit,(ii)the principal mineral extracted is ammonite gemstone, calcium chloride, diamond, gypsum, halite, kaolin or sylvite, or(iii)the principal mineral extracted is silica that is extracted from sandstone or quartzite; (matières minéralesressource minérale)
(i)the Minister of Natural Resources has certified that the principal mineral extracted is an industrial mineral contained in a non-bedded deposit,(ii)the principal mineral extracted is ammonite gemstone, calcium chloride, diamond, gypsum, halite, kaolin or sylvite, or(iii)the principal mineral extracted is silica that is extracted from sandstone or quartzite; (matières minéralesressource minérale)
(a)a trolley bus, or(b)a vehicle designed or adapted to be operated exclusively on rails; (véhicule à moteur)
(a)the percentage rate of tax provided under paragraph 123(1)(a) for the taxation year
(b)the total of(i)the percentage that would, if the SIFT trust or SIFT partnership were a corporation, be its general rate reduction percent- age, within the meaning assigned by subsection 123.4(1), for the taxation year, and(ii)the percentage deduction from tax provided under subsection 124(1) for the taxation year; (taux net d’imposition du revenu des sociétés)
(i)the percentage that would, if the SIFT trust or SIFT partnership were a corporation, be its general rate reduction percent- age, within the meaning assigned by subsection 123.4(1), for the taxation year, and(ii)the percentage deduction from tax provided under subsection 124(1) for the taxation year; (taux net d’imposition du revenu des sociétés)
(a)under the net income stabilization account program under theFarm Income Protection Act, or(b)that is a prescribed account; (compte de stabilisation du revenu net)
(a)that is described in paragraph 8(2)(b) of theFarm Income Protection Actor is a prescribed fund, and(b)that can reasonably be considered to be attributable to a program that allows the funds in the account to accumulate; (second fonds du compte de stabilisation du revenu net)
(a)acquired after June 17, 1987, other than an automobile that is acquired after that date pursuant to an obligation in writing entered into before June 18, 1987 or that is a zero-emission vehicle, or(b)leased under a lease entered into, extended or renewed after June 17, 1987; (voiture de tourisme)
(a)the expenses of properties maintained by any person for the use or benefit of the taxpayer or any person connected with the taxpayer by blood relationship, marriage or common-law partnership or adoption, and not maintained in connection with a business carried on for profit or with a reasonable expectation of profit,(b)the expenses, premiums or other costs of a policy of insurance, annuity contract or other like contract if the proceeds of the policy or contract are payable to or for the benefit of the taxpayer or a person connected with the taxpayer by blood relationship, marriage or common-law partnership or adoption, and(c)expenses of properties maintained by an estate or trust for the benefit of the taxpayer as one of the beneficiaries; (frais personnels ou de subsistance)
(a)a graduated rate estate, or(b)a trust in which no beneficial interest was acquired for consideration payable directly or indirectly to(i)the trust, or(ii)any person or partnership that has made a contribution to the trust by way of transfer, assignment or other disposition of property; (fiducie personnelle)
(i)the trust, or(ii)any person or partnership that has made a contribution to the trust by way of transfer, assignment or other disposition of property; (fiducie personnelle)
(a)in the case of a form, the information to be given on a form or the manner of filing a form, authorized by the Minister,(a.1)in the case of the manner of making or filing an election, authorized by the Minister, and(b)in any other case, prescribed by regulation or determined in accordance with rules prescribed by regulation; (prescrit)
(a)a contract of insurance in respect of hospital expenses, medical expenses or any combination of such expenses, or(b)a medical care insurance plan or hospital care insurance plan or any combination of such plans,
(c)a law of a province that establishes a health care insurance plan as defined in section 2 of theCanada Health Act, or(d)an Act of Parliament or a regulation made thereunder that authorizes the provision of a medical care insurance plan or hospital care insurance plan for employees of Canada and their dependants and for dependants of members of the Royal Canadian Mounted Police and the regular force where such employees or members were appointed in Canada and are serving outside Canada; (régime privé d’assurance-maladie)
(a)a right of any kind whatever, a share or a chose in action,(b)unless a contrary intention is evident, money,(c)a timber resource property,(d)the work in progress of a business that is a profession; and(e)the goodwill of a business, as referred to in subsection 13(34); (biens)
(a)meets the following conditions:(i)in the case of a corporation,(A)it is incorporated under the laws of Canada or a province,(B)the chairperson or other presiding officer, and at least 3/4 of the directors or other similar officers, are citizens of Canada, and(C)it is resident in Canada,(ii)in the case of a partnership,(A)it is formed under the laws of a province, and(B)individuals who are citizens of Canada or persons, or partnerships, described in any of subparagraphs (i) to (iii) hold interests in the partnership(I)representing in value at least 75% of the total value of the partnership property, and(II)that result in at least 75% of each income or loss of the partnership from any source being included in the determination of their incomes,(iii)in the case of a trust,(A)it is formed under the laws of a province,(B)it is resident in Canada, and(C)if interests as a beneficiary under the trust are held by one or more persons or partnerships, at least 75% of the fair market value of all interests as a beneficiary under the trust are held by(I)individuals who are citizens of Canada, or(II)persons or partnerships described in any of subparagraphs (i) to (iii),(iv)it operates in Canada, including that its content is edited, designed and, except in the case of digital content, published in Canada,(v)it is engaged in the production of original news content, which(A)must be primarily focused on matters of general interest and reports of current events, including coverage of democratic institutions and processes, and(B)must not be primarily focused on a particular topic such as industry-specific news, sports, recreation, arts, lifestyle or entertainment,(vi)it regularly employs two or more journalists who deal at arm’s length with the organization in the production of its content,(vii)it is not significantly engaged in the production of content(A)to promote the interests, or report on the activities, of an organization, an association or its members, or(B)for a government, Crown corporation or government agency, and(C)[Repealed, 2021, c. 23, s. 61](viii)it is not a Crown corporation, municipal corporation or government agency, and(b)is designated at that time by the Minister and, for this purpose, the Minister shall take into account any recommendations of a body established for the purpose of this definition; (organisation journalistique canadienne qualifiée)
(i)in the case of a corporation,(A)it is incorporated under the laws of Canada or a province,(B)the chairperson or other presiding officer, and at least 3/4 of the directors or other similar officers, are citizens of Canada, and(C)it is resident in Canada,(ii)in the case of a partnership,(A)it is formed under the laws of a province, and(B)individuals who are citizens of Canada or persons, or partnerships, described in any of subparagraphs (i) to (iii) hold interests in the partnership(I)representing in value at least 75% of the total value of the partnership property, and(II)that result in at least 75% of each income or loss of the partnership from any source being included in the determination of their incomes,(iii)in the case of a trust,(A)it is formed under the laws of a province,(B)it is resident in Canada, and(C)if interests as a beneficiary under the trust are held by one or more persons or partnerships, at least 75% of the fair market value of all interests as a beneficiary under the trust are held by(I)individuals who are citizens of Canada, or(II)persons or partnerships described in any of subparagraphs (i) to (iii),(iv)it operates in Canada, including that its content is edited, designed and, except in the case of digital content, published in Canada,(v)it is engaged in the production of original news content, which(A)must be primarily focused on matters of general interest and reports of current events, including coverage of democratic institutions and processes, and(B)must not be primarily focused on a particular topic such as industry-specific news, sports, recreation, arts, lifestyle or entertainment,(vi)it regularly employs two or more journalists who deal at arm’s length with the organization in the production of its content,(vii)it is not significantly engaged in the production of content(A)to promote the interests, or report on the activities, of an organization, an association or its members, or(B)for a government, Crown corporation or government agency, and(C)[Repealed, 2021, c. 23, s. 61](viii)it is not a Crown corporation, municipal corporation or government agency, and
(A)it is incorporated under the laws of Canada or a province,(B)the chairperson or other presiding officer, and at least 3/4 of the directors or other similar officers, are citizens of Canada, and(C)it is resident in Canada,
(A)it is formed under the laws of a province, and(B)individuals who are citizens of Canada or persons, or partnerships, described in any of subparagraphs (i) to (iii) hold interests in the partnership(I)representing in value at least 75% of the total value of the partnership property, and(II)that result in at least 75% of each income or loss of the partnership from any source being included in the determination of their incomes,
(I)representing in value at least 75% of the total value of the partnership property, and(II)that result in at least 75% of each income or loss of the partnership from any source being included in the determination of their incomes,
(A)it is formed under the laws of a province,(B)it is resident in Canada, and(C)if interests as a beneficiary under the trust are held by one or more persons or partnerships, at least 75% of the fair market value of all interests as a beneficiary under the trust are held by(I)individuals who are citizens of Canada, or(II)persons or partnerships described in any of subparagraphs (i) to (iii),
(I)individuals who are citizens of Canada, or(II)persons or partnerships described in any of subparagraphs (i) to (iii),
(A)must be primarily focused on matters of general interest and reports of current events, including coverage of democratic institutions and processes, and(B)must not be primarily focused on a particular topic such as industry-specific news, sports, recreation, arts, lifestyle or entertainment,
(A)to promote the interests, or report on the activities, of an organization, an association or its members, or(B)for a government, Crown corporation or government agency, and(C)[Repealed, 2021, c. 23, s. 61]
(a)a designated stock exchange, and(b)any other stock exchange, if that other stock exchange is located in Canada or in a country that is a member of the Organisation for Economic Co-operation and Development and that has a tax treaty with Canada; (bourse de valeurs reconnue)
(a)a charitable organization, private foundation or public foundation, within the meanings assigned by subsection 149.1(1), that is resident in Canada and was either created or established in Canada, or(b)a branch, section, parish, congregation or other division of an organization or foundation described in paragraph (a), that is resident in Canada and was either created or established in Canada and that receives donations on its own behalf,
(a)for taxation years that end before 2010, 3, and(b)for taxation years that end after 2009, the amount determined by the formula1/(A – B)whereAis the percentage set out in paragraph 123(1)(a), andBis the percentage that is the corporation’s general rate reduction percentage (as defined by section 123.4) for the taxation year; (facteur de référence)
(a)a bank,(b)a corporation licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee,(c)a credit union,(d)an insurance corporation,(e)a corporation whose principal business is the lending of money to persons with whom the corporation is dealing at arm’s length or the purchasing of debt obligations issued by such persons or a combination thereof,(e.1)a corporation described in paragraph (g) of the definitionfinancial institutionin subsection 181(1), or(f)a corporation that is controlled by one or more corporations described in any of paragraphs (a) to (e.1); (institution financière véritable)
(a)a registered pension plan,(a.1)a pooled registered pension plan,(b)a disability or income maintenance insurance plan under a policy with an insurance corporation,(c)a deferred profit sharing plan,(d)an employees profit sharing plan,(e)a registered retirement savings plan,(f)an employee trust,(f.1)an employee life and health trust,(g)a group sickness or accident insurance plan,(h)a supplementary unemployment benefit plan,(i)a vacation pay trust described in paragraph 149(1)(y),(j)a plan or arrangement established for the purpose of deferring the salary or wages of a professional athlete for his services as such with a team that participates in a league having regularly scheduled games (in this definition referred to as an “athlete’s plan”), where(i)the plan or arrangement would, but for paragraph (j) of the definitionsalary deferral arrangementin this subsection, be a salary deferral arrangement, and(ii)in the case of a Canadian team, the custodian of the plan or arrangement carries on business through a fixed place of business in Canada and is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee,(k)a salary deferral arrangement, whether or not deferred amounts thereunder are required to be included as benefits under paragraph 6(1)(a) in computing a taxpayer’s income,(l)a plan or arrangement (other than an athlete’s plan) that is maintained primarily for the benefit of non-residents in respect of services rendered outside Canada,(m)an insurance policy, or(n)a prescribed plan or arrangement,
(i)the plan or arrangement would, but for paragraph (j) of the definitionsalary deferral arrangementin this subsection, be a salary deferral arrangement, and(ii)in the case of a Canadian team, the custodian of the plan or arrangement carries on business through a fixed place of business in Canada and is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee,
(a)on or after retirement of a taxpayer from an office or employment in recognition of the taxpayer’s long service, or(b)in respect of a loss of an office or employment of a taxpayer, whether or not received as, on account or in lieu of payment of, damages or pursuant to an order or judgment of a competent tribunal,
(a)a registered pension plan,(a.1)a pooled registered pension plan,(b)a disability or income maintenance insurance plan under a policy with an insurance corporation,(c)a deferred profit sharing plan,(d)an employees profit sharing plan,(e)an employee trust,(e.1)an employee life and health trust,(f)a group sickness or accident insurance plan,(g)a supplementary unemployment benefit plan,(h)a vacation pay trust described in paragraph 149(1)(y),(i)a plan or arrangement the sole purpose of which is to provide education or training for employees of an employer to improve their work or work-related skills and abilities,(j)a plan or arrangement established for the purpose of deferring the salary or wages of a professional athlete for the services of the athlete as such with a team that participates in a league having regularly scheduled games,(k)a plan or arrangement under which a taxpayer has a right to receive a bonus or similar payment in respect of services rendered by the taxpayer in a taxation year to be paid within 3 years following the end of the year, or(l)a prescribed plan or arrangement; (entente d’échelonnement du traitement)
(a)basic research, namely, work undertaken for the advancement of scientific knowledge without a specific practical application in view,(b)applied research, namely, work undertaken for the advancement of scientific knowledge with a specific practical application in view, or(c)experimental development, namely, work undertaken for the purpose of achieving technological advancement for the purpose of creating new, or improving existing, materials, devices, products or processes, including incremental improvements thereto,
(d)work undertaken by or on behalf of the taxpayer with respect to engineering, design, operations research, mathematical analysis, computer programming, data collection, testing or psychological research, where the work is commensurate with the needs, and directly in support, of work described in paragraph (a), (b), or (c) that is undertaken in Canada by or on behalf of the taxpayer,
(e)market research or sales promotion,(f)quality control or routine testing of materials, devices, products or processes,(g)research in the social sciences or the humanities,(h)prospecting, exploring or drilling for, or producing, minerals, petroleum or natural gas,(i)the commercial production of a new or improved material, device or product or the commercial use of a new or improved process,(j)style changes, or(k)routine data collection; (activités de recherche scientifique et de développement expérimental)
(a)is a share where, under the terms and conditions of the share, any agreement relating to the share or any modification of those terms and conditions or that agreement, the corporation or a specified person in relation to the corporation is or may, at any time within 5 years after the date of its issue, be required to redeem, acquire or cancel, in whole or in part, the share (unless the requirement to redeem, acquire or cancel the share arises only in the event of the death of the shareholder or by reason only of a right to convert or exchange the share) or to reduce the paid-up capital of the share, and for the purposes of this paragraph(i)an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount(A)in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or(B)that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or for an amount determined by reference to the assets or earnings of the corporation where that determination may reasonably be considered to be used to determine an amount that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, and(ii)shareholderincludes a shareholder of a shareholder, or(b)is a share that is convertible or exchangeable at any time within 5 years after the date of its issue, unless(i)it is convertible into or exchangeable for(A)another share of the corporation or a corporation related to the corporation that, if issued, would not be a short-term preferred share,(B)a right or warrant that, if exercised, would allow the person exercising it to acquire only a share of the corporation or a corporation related to the corporation that, if issued, would not be a short-term preferred share, or(C)both a share described in clause (A) and a right or warrant described in clause (B), and(ii)all the consideration receivable for the share on the conversion or exchange is the share described in clause (A) or the right or warrant described in clause (B) or both, as the case may be, and for the purposes of this subparagraph, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of clauses (A) to (C)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1 or VI.1,
(i)an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount(A)in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or(B)that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or for an amount determined by reference to the assets or earnings of the corporation where that determination may reasonably be considered to be used to determine an amount that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, and(ii)shareholderincludes a shareholder of a shareholder, or
(A)in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or(B)that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or for an amount determined by reference to the assets or earnings of the corporation where that determination may reasonably be considered to be used to determine an amount that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, and
(i)it is convertible into or exchangeable for(A)another share of the corporation or a corporation related to the corporation that, if issued, would not be a short-term preferred share,(B)a right or warrant that, if exercised, would allow the person exercising it to acquire only a share of the corporation or a corporation related to the corporation that, if issued, would not be a short-term preferred share, or(C)both a share described in clause (A) and a right or warrant described in clause (B), and(ii)all the consideration receivable for the share on the conversion or exchange is the share described in clause (A) or the right or warrant described in clause (B) or both, as the case may be, and for the purposes of this subparagraph, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of clauses (A) to (C)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1 or VI.1,
(A)another share of the corporation or a corporation related to the corporation that, if issued, would not be a short-term preferred share,(B)a right or warrant that, if exercised, would allow the person exercising it to acquire only a share of the corporation or a corporation related to the corporation that, if issued, would not be a short-term preferred share, or(C)both a share described in clause (A) and a right or warrant described in clause (B), and
(c)where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, the terms or conditions of a share of the capital stock of a corporation that are relevant to any matter referred to in any of paragraphs (a), (b), (f) and (h) are established or modified, or any agreement in respect of any such matter to which the corporation or a specified person in relation to the corporation is a party, is changed or entered into, the share shall be deemed after that particular time to have been issued at that particular time,(d)where at any particular time after December 15, 1987 a particular share of the capital stock of a corporation has been issued or its terms or conditions have been modified or an agreement in respect of the share is modified or entered into, and it may reasonably be considered, having regard to all the circumstances, including the rate of interest on any debt obligation or the dividend provided on any short-term preferred share, that(i)but for the existence at any time of such a debt obligation or such a short-term preferred share, the particular share would not have been issued or its terms or conditions modified or the agreement in respect of the share would not have been modified or entered into, and(ii)one of the main purposes for the issue of the particular share or the modification of its terms or conditions or the modification or entering into the agreement in respect of the share was to avoid or limit the tax payable under subsection 191.1(1),
(i)but for the existence at any time of such a debt obligation or such a short-term preferred share, the particular share would not have been issued or its terms or conditions modified or the agreement in respect of the share would not have been modified or entered into, and(ii)one of the main purposes for the issue of the particular share or the modification of its terms or conditions or the modification or entering into the agreement in respect of the share was to avoid or limit the tax payable under subsection 191.1(1),
(e)where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, the terms or conditions of a share of the capital stock of a corporation are modified or established or any agreement in respect of the share has been changed or entered into, and as a consequence thereof the corporation or a specified person in relation to the corporation may reasonably be expected to redeem, acquire or cancel (otherwise than by reason of the death of the shareholder or by reason only of a right to convert or exchange the share that would not cause the share to be a short-term preferred share by reason of paragraph (b)), in whole or in part, the share, or to reduce its paid-up capital, within 5 years after the particular time, the share shall be deemed to have been issued at that particular time and to be a short-term preferred share of the corporation after the particular time until the time that that reasonable expectation ceases to exist and, for the purposes of this paragraph,(i)an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount(A)in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or(B)that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or for an amount determined by reference to the assets or earnings of the corporation where that determination may reasonably be considered to be used to determine an amount that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, and(ii)shareholderincludes a shareholder of a shareholder,(f)if a share of the capital stock of a corporation was issued after December 15, 1987 and at the time the share was issued the existence of the corporation was, or there was an arrangement under which it could be, limited to a period that was within five years from the date of its issue, the share is deemed to be a short-term preferred share of the corporation unless(i)the share is a grandfathered share and the arrangement is a written arrangement entered into before December 16, 1987, or(ii)the share is issued to an individual after April 14, 2005 under an agreement referred to in subsection 7(1), if when the individual last acquired a right under the agreement to acquire a share of the capital stock of the corporation, the existence of the corporation was not, and no arrangement was in effect under which it could be, limited to a period that was within five years from the date of that last acquisition,(g)where a share of the capital stock of a corporation is acquired at any time after December 15, 1987 by the corporation or a specified person in relation to the corporation and the share is at any particular time after that time acquired by a person with whom the corporation or a specified person in relation to the corporation was dealing at arm’s length if this Act were read without reference to paragraph 251(5)(b), from the corporation or a specified person in relation to the corporation, the share shall be deemed after that particular time to have been issued at that particular time,(h)where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, as a result of the terms or conditions of a share of the capital stock of a corporation or any agreement entered into by the corporation or a specified person in relation to the corporation, any person (other than the corporation or an individual other than a trust) was obligated, either absolutely or contingently and either immediately or in the future, to effect any undertaking within 5 years after the day on which the share was issued (in this paragraph referred to as a “guarantee agreement”) including any guarantee, covenant or agreement to purchase or repurchase the share, and including the lending of funds or the placing of amounts on deposit with, or on behalf of the shareholder or a specified person in relation to the shareholder given(i)to ensure that any loss that the shareholder or a specified person in relation to the shareholder may sustain, by reason of the ownership, holding or disposition of the share or any other property is limited in any respect, and(ii)as part of a transaction or event or series of transactions or events that included the issuance of the share,the share shall be deemed after that particular time to have been issued at the particular time and to be at and immediately after the particular time a short-term preferred share, and for the purposes of this paragraph, where a guarantee agreement in respect of a share is given at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, the share shall be deemed to have been issued at the particular time and the guarantee agreement shall be deemed to have been given as part of a series of transactions that included the issuance of the share,(i)a share that is, at the time a dividend is paid thereon, a share described in paragraph (e) of the definitionterm preferred sharein this subsection during the applicable time period referred to in that paragraph or a prescribed share shall, notwithstanding any other provision of this definition, be deemed not to be a short-term preferred share at that time, and(j)specified personhas the meaning assigned by paragraph (h) of the definitiontaxable preferred sharein this subsection; (action privilégiée à court terme)
(i)an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount(A)in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or(B)that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or for an amount determined by reference to the assets or earnings of the corporation where that determination may reasonably be considered to be used to determine an amount that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, and(ii)shareholderincludes a shareholder of a shareholder,
(A)in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or(B)that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or for an amount determined by reference to the assets or earnings of the corporation where that determination may reasonably be considered to be used to determine an amount that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, and
(i)the share is a grandfathered share and the arrangement is a written arrangement entered into before December 16, 1987, or(ii)the share is issued to an individual after April 14, 2005 under an agreement referred to in subsection 7(1), if when the individual last acquired a right under the agreement to acquire a share of the capital stock of the corporation, the existence of the corporation was not, and no arrangement was in effect under which it could be, limited to a period that was within five years from the date of that last acquisition,
(i)to ensure that any loss that the shareholder or a specified person in relation to the shareholder may sustain, by reason of the ownership, holding or disposition of the share or any other property is limited in any respect, and(ii)as part of a transaction or event or series of transactions or events that included the issuance of the share,
(a)the distribution occurs before 2013,(b)there is a resulting disposition of all of the taxpayer’s interest as a beneficiary under the particular trust,(c)the particular trust is(i)a SIFT wind-up entity,(ii)a trust whose only beneficiary throughout the period (referred to in this definition as the “qualifying period”) that begins on July 14, 2008 and that ends at the time of the distribution is another trust that throughout the qualifying period(A)is resident in Canada, and(B)is a SIFT wind-up entity or a trust described by this subparagraph, or(iii)a trust whose only beneficiary at the time of distribution is another trust that throughout the qualifying period(A)is resident in Canada,(B)is a SIFT wind-up entity or a trust described by subparagraph (ii), and(C)is a majority interest beneficiary (within the meaning that would be assigned by section 251.1 if the references in the definitionmajority interest beneficiaryin subsection 251.1(3) to “50%” were read as references to “25%”) of the particular trust,(d)the particular trust ceases to exist immediately after the distribution or immediately after the last of a series of SIFT trust wind-up events (determined without reference to this paragraph) of the particular trust that includes the distribution, and(e)the property was not acquired by the particular trust as a result of a transfer or an exchange(i)that is(A)aqualifying exchangeas defined in subsection 132.2(1) or aqualifying dispositionas defined in subsection 107.4(1),(B)made after February 2, 2009, and(C)from any person other than a SIFT wind-up entity, or(ii)to which any of sections 51, 85, 85.1, 86, 87, 88, 107.4 or 132.2 applies, of another property acquired as a result of a transfer or an exchange described by subparagraph (i) or this subparagraph; (fait lié à la conversion d’une EIPD-fiducie)
(i)a SIFT wind-up entity,(ii)a trust whose only beneficiary throughout the period (referred to in this definition as the “qualifying period”) that begins on July 14, 2008 and that ends at the time of the distribution is another trust that throughout the qualifying period(A)is resident in Canada, and(B)is a SIFT wind-up entity or a trust described by this subparagraph, or(iii)a trust whose only beneficiary at the time of distribution is another trust that throughout the qualifying period(A)is resident in Canada,(B)is a SIFT wind-up entity or a trust described by subparagraph (ii), and(C)is a majority interest beneficiary (within the meaning that would be assigned by section 251.1 if the references in the definitionmajority interest beneficiaryin subsection 251.1(3) to “50%” were read as references to “25%”) of the particular trust,
(A)is resident in Canada, and(B)is a SIFT wind-up entity or a trust described by this subparagraph, or
(A)is resident in Canada,(B)is a SIFT wind-up entity or a trust described by subparagraph (ii), and(C)is a majority interest beneficiary (within the meaning that would be assigned by section 251.1 if the references in the definitionmajority interest beneficiaryin subsection 251.1(3) to “50%” were read as references to “25%”) of the particular trust,
(i)that is(A)aqualifying exchangeas defined in subsection 132.2(1) or aqualifying dispositionas defined in subsection 107.4(1),(B)made after February 2, 2009, and(C)from any person other than a SIFT wind-up entity, or(ii)to which any of sections 51, 85, 85.1, 86, 87, 88, 107.4 or 132.2 applies, of another property acquired as a result of a transfer or an exchange described by subparagraph (i) or this subparagraph; (fait lié à la conversion d’une EIPD-fiducie)
(A)aqualifying exchangeas defined in subsection 132.2(1) or aqualifying dispositionas defined in subsection 107.4(1),(B)made after February 2, 2009, and(C)from any person other than a SIFT wind-up entity, or
(a)that, at any time that is after July 13, 2008 and before the earlier of the particular time and January 1, 2013, owns all of the equity in the SIFT wind-up entity, or(b)shares of the capital stock of which are at or before the particular time distributed on a SIFT trust wind-up event of the SIFT wind-up entity; (société de conversion d’EIPD)
(a)a SIFT trust (determined without reference to subsection 122.1(2)),(b)a SIFT partnership (determined without reference to subsection 197(8)), or(c)a real estate investment trust (as defined in subsection 122.1(1)); (EIPD convertible)
(a)if the SIFT wind-up entity is a trust, a capital interest (determined without reference to subsection (25)) in the trust, and(b)if the SIFT wind-up entity is a partnership, an interest as a member of the partnership where, by operation of any law governing the arrangement in respect of the partnership, the liability of the member as a member of the partnership is limited,
(a)used principally in an active business carried on primarily in Canada by the particular corporation or by a corporation related to it,(b)shares of the capital stock or indebtedness of one or more small business corporations that are at that time connected with the particular corporation (within the meaning of subsection 186(4) on the assumption that the small business corporation is at that time apayer corporationwithin the meaning of that subsection), or(c)assets described in paragraphs (a) and (b),
(a)a bank,(b)a corporation licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee,(c)a credit union,(d)an insurance corporation,(e)a corporation whose principal business is the lending of money to persons with whom the corporation is dealing at arm’s length or the purchasing of debt obligations issued by such persons or a combination thereof,(e.1)a corporation described in paragraph (g) of the definitionfinancial institutionin subsection 181(1),(f)a corporation that is controlled by one or more corporations described in any of paragraphs (a) to (e.1) and, for the purpose of this paragraph, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length, or(g)a corporation that is related to a particular corporation described in any of paragraphs (a) to (f), other than a particular corporation described in paragraph (e) or (e.1) the principal business of which is the factoring of trade accounts receivable that(i)the particular corporation acquired from a related person,(ii)arose in the course of an active business carried on by a person (in this paragraph referred to as the “business entity”) related at that time to the particular corporation, and(iii)at no particular time before that time were held by a person other than a person who was related to the business entity; (institution financière déterminée)
(i)the particular corporation acquired from a related person,(ii)arose in the course of an active business carried on by a person (in this paragraph referred to as the “business entity”) related at that time to the particular corporation, and(iii)at no particular time before that time were held by a person other than a person who was related to the business entity; (institution financière déterminée)
(a)the consequence of the deduction or exclusion of an amount referred to in paragraph 161(7)(a),(b)the consequence of a reduction under subsection 66(12.73) of a particular amount purported to be renounced by a corporation after the beginning of the year to a person or partnership under subsection 66(12.6) or 66(12.601) because of the application of subsection 66(12.66), determined as if the purported renunciation would, but for subsection 66(12.73), have been effective only where(i)the purported renunciation occurred in January, February or March of a calendar year,(ii)the effective date of the purported renunciation was the last day of the preceding calendar year,(iii)the corporation agreed in that preceding calendar year to issue a flow-though share to the person or partnership,(iv)the particular amount does not exceed the amount, if any, by which the consideration for which the share is to be issued exceeds the total of all other amounts purported by the corporation to have been renounced under subsection 66(12.6) or 66(12.601) in respect of that consideration,(v)paragraphs 66(12.66)(c) and 66(12.66)(d) are satisfied with respect to the purported renunciation, and(vi)the form prescribed for the purpose of subsection 66(12.7) in respect of the purported renunciation is filed with the Minister before May of the calendar year, and(c)the consequence of an adjustment or a reduction described in subsection 161(6.1); (conséquence fiscale future déterminée)
(i)the purported renunciation occurred in January, February or March of a calendar year,(ii)the effective date of the purported renunciation was the last day of the preceding calendar year,(iii)the corporation agreed in that preceding calendar year to issue a flow-though share to the person or partnership,(iv)the particular amount does not exceed the amount, if any, by which the consideration for which the share is to be issued exceeds the total of all other amounts purported by the corporation to have been renounced under subsection 66(12.6) or 66(12.601) in respect of that consideration,(v)paragraphs 66(12.66)(c) and 66(12.66)(d) are satisfied with respect to the purported renunciation, and(vi)the form prescribed for the purpose of subsection 66(12.7) in respect of the purported renunciation is filed with the Minister before May of the calendar year, and
(a)any member of the partnership who is a limited partner (within the meaning assigned by subsection 96(2.4)) of the partnership at any time in the period or year, and(b)any member of the partnership, other than a member who is(i)actively engaged in those activities of the partnership business that are other than the financing of the partnership business, or(ii)carrying on a similar business as that carried on by the partnership in its taxation year, otherwise than as a member of a partnership,
(i)actively engaged in those activities of the partnership business that are other than the financing of the partnership business, or(ii)carrying on a similar business as that carried on by the partnership in its taxation year, otherwise than as a member of a partnership,
(a)a taxpayer shall be deemed to own each share of the capital stock of a corporation owned at that time by a person with whom the taxpayer does not deal at arm’s length,(b)each beneficiary of a trust shall be deemed to own that proportion of all such shares owned by the trust at that time that the fair market value at that time of the beneficial interest of the beneficiary in the trust is of the fair market value at that time of all beneficial interests in the trust,(c)each member of a partnership shall be deemed to own that proportion of all the shares of any class of the capital stock of a corporation that are property of the partnership at that time that the fair market value at that time of the member’s interest in the partnership is of the fair market value at that time of the interests of all members in the partnership,(d)an individual who performs services on behalf of a corporation that would be carrying on a personal services business if the individual or any person related to the individual were at that time a specified shareholder of the corporation shall be deemed to be a specified shareholder of the corporation at that time if the individual, or any person or partnership with whom the individual does not deal at arm’s length, is, or by virtue of any arrangement may become, entitled, directly or indirectly, to not less than 10% of the assets or the shares of any class of the capital stock of the corporation or any corporation related thereto, and(e)notwithstanding paragraph (b), where a beneficiary’s share of the income or capital of the trust depends on the exercise by any person of, or the failure by any person to exercise, any discretionary power, the beneficiary shall be deemed to own each share of the capital stock of a corporation owned at that time by the trust; (actionnaire déterminé)
(a)have the effect of providing to a person or partnership all or any portion of the risk of loss or opportunity for gain or profit in respect of the DRA share and, for greater certainty, opportunity for gain or profit includes rights to, benefits from and distributions on a share, and(b)can reasonably be considered to have been entered into in connection with a synthetic equity arrangement, in respect of the DRA share, or in connection with another specified synthetic equity arrangement, in respect of the DRA share; (arrangement de capitaux propres synthétiques déterminé)
(a)in accordance with the terms of the fund or plan,(b)resulting from an amendment to or modification of the fund or plan, or(c)resulting from the termination of the fund or plan; (prestation de retraite ou de pension)
(a)are entered into by the taxpayer or by a person or partnership that does not deal at arm’s length with the taxpayer,(b)have the effect, or would have the effect if entered into by the taxpayer instead of the person or partnership, of eliminating all or substantially all the taxpayer’s risk of loss and opportunity for gain or profit in respect of the property for a definite or indefinite period of time, and(c)can, in respect of any agreement or arrangement entered into by a person or partnership that does not deal at arm’s length with the taxpayer, reasonably be considered to have been entered into, in whole or in part, with the purpose of obtaining the effect described in paragraph (b); (arrangement de disposition factice)
(a)means one or more agreements or other arrangements that(i)are entered into by the particular person, by a person or partnership that does not deal at arm’s length with, or is affiliated with, the particular person (referred to in this definition as aconnected person) or, for greater certainty, by any combination of the particular person and connected persons, with one or more persons or partnerships (referred to in this definition as acounterpartyand in subsection 112(2.32) as acounterpartyor anaffiliated counterpartyas appropriate),(ii)have the effect, or would have the effect, if each agreement entered into by a connected person were entered into by the particular person, of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share to a counterparty or a group of counterparties each member of which is affiliated with every other member and, for greater certainty, opportunity for gain or profit includes rights to, benefits from and distributions on a share, and(iii)if entered into by a connected person, can reasonably be considered to have been entered into with the knowledge, or where there ought to have been the knowledge, that the effect described in subparagraph (ii) would result, and(b)does not include(i)an agreement that is traded on a recognized derivatives exchange unless it can reasonably be considered that, at the time the agreement is entered into,(A)the particular person or the connected person, as the case may be, knows or ought to know that the agreement is part of a series of transactions that has the effect of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share to a tax-indifferent investor, or a group of tax-indifferent investors each member of which is affiliated with every other member, or(B)one of the main reasons for entering into the agreement is to obtain the benefit of a deduction in respect of a payment, or a reduction of an amount that would otherwise have been included in income, under the agreement, that corresponds to an expected or actual dividend in respect of a DRA share,(ii)one or more agreements or other arrangements that, but for this subparagraph, would be a synthetic equity arrangement, in respect of a share owned by the particular person (in this subparagraph referred to as thesynthetic short position), if(A)the particular person has entered into one or more other agreements or other arrangements (other than, for greater certainty, an agreement under which the share is acquired or an agreement or arrangement under which the particular person receives a deemed dividend and is provided with all or substantially all of the risk of loss and opportunity for gain or profit in respect of the share) that have the effect of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the share to the particular person (in this subparagraph referred to as thesynthetic long position),(B)the synthetic short position has the effect of offsetting all amounts included or deducted in computing the income of the particular person with respect to the synthetic long position, and(C)the synthetic short position was entered into for the purpose of obtaining the effect referred to in clause (B), and(iii)an agreement to purchase the shares of a corporation, or a purchase agreement that is part of a series of agreements to purchase the shares of a corporation, under which a counterparty or a group of counterparties each member of which is affiliated with every other member acquires control of the corporation that has issued the shares being purchased, unless the main reason for establishing, incorporating or operating the corporation is to have this subparagraph apply; (arrangement de capitaux propres synthétiques)
(i)are entered into by the particular person, by a person or partnership that does not deal at arm’s length with, or is affiliated with, the particular person (referred to in this definition as aconnected person) or, for greater certainty, by any combination of the particular person and connected persons, with one or more persons or partnerships (referred to in this definition as acounterpartyand in subsection 112(2.32) as acounterpartyor anaffiliated counterpartyas appropriate),(ii)have the effect, or would have the effect, if each agreement entered into by a connected person were entered into by the particular person, of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share to a counterparty or a group of counterparties each member of which is affiliated with every other member and, for greater certainty, opportunity for gain or profit includes rights to, benefits from and distributions on a share, and(iii)if entered into by a connected person, can reasonably be considered to have been entered into with the knowledge, or where there ought to have been the knowledge, that the effect described in subparagraph (ii) would result, and
(i)an agreement that is traded on a recognized derivatives exchange unless it can reasonably be considered that, at the time the agreement is entered into,(A)the particular person or the connected person, as the case may be, knows or ought to know that the agreement is part of a series of transactions that has the effect of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share to a tax-indifferent investor, or a group of tax-indifferent investors each member of which is affiliated with every other member, or(B)one of the main reasons for entering into the agreement is to obtain the benefit of a deduction in respect of a payment, or a reduction of an amount that would otherwise have been included in income, under the agreement, that corresponds to an expected or actual dividend in respect of a DRA share,(ii)one or more agreements or other arrangements that, but for this subparagraph, would be a synthetic equity arrangement, in respect of a share owned by the particular person (in this subparagraph referred to as thesynthetic short position), if(A)the particular person has entered into one or more other agreements or other arrangements (other than, for greater certainty, an agreement under which the share is acquired or an agreement or arrangement under which the particular person receives a deemed dividend and is provided with all or substantially all of the risk of loss and opportunity for gain or profit in respect of the share) that have the effect of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the share to the particular person (in this subparagraph referred to as thesynthetic long position),(B)the synthetic short position has the effect of offsetting all amounts included or deducted in computing the income of the particular person with respect to the synthetic long position, and(C)the synthetic short position was entered into for the purpose of obtaining the effect referred to in clause (B), and(iii)an agreement to purchase the shares of a corporation, or a purchase agreement that is part of a series of agreements to purchase the shares of a corporation, under which a counterparty or a group of counterparties each member of which is affiliated with every other member acquires control of the corporation that has issued the shares being purchased, unless the main reason for establishing, incorporating or operating the corporation is to have this subparagraph apply; (arrangement de capitaux propres synthétiques)
(A)the particular person or the connected person, as the case may be, knows or ought to know that the agreement is part of a series of transactions that has the effect of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share to a tax-indifferent investor, or a group of tax-indifferent investors each member of which is affiliated with every other member, or(B)one of the main reasons for entering into the agreement is to obtain the benefit of a deduction in respect of a payment, or a reduction of an amount that would otherwise have been included in income, under the agreement, that corresponds to an expected or actual dividend in respect of a DRA share,
(A)the particular person has entered into one or more other agreements or other arrangements (other than, for greater certainty, an agreement under which the share is acquired or an agreement or arrangement under which the particular person receives a deemed dividend and is provided with all or substantially all of the risk of loss and opportunity for gain or profit in respect of the share) that have the effect of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the share to the particular person (in this subparagraph referred to as thesynthetic long position),(B)the synthetic short position has the effect of offsetting all amounts included or deducted in computing the income of the particular person with respect to the synthetic long position, and(C)the synthetic short position was entered into for the purpose of obtaining the effect referred to in clause (B), and
(a)no party to the synthetic equity arrangement or a specified synthetic equity arrangement, if any, is a tax-indifferent investor, and(b)each other party to these agreements or arrangements is affiliated with the person or partnership; (chaîne d’arrangements de capitaux propres synthétiques)
(a)real or immovable property situated in Canada,(b)property used or held by the taxpayer in, property included in Class 14.1 of Schedule II to theIncome Tax Regulationsin respect of, or property described in an inventory of, a business carried on in Canada, other than(i)property used in carrying on an insurance business, and(ii)where the taxpayer is non-resident, ships and aircraft used principally in international traffic and personal or movable property pertaining to their operation if the country in which the taxpayer is resident does not impose tax on gains of persons resident in Canada from dispositions of such property,(c)if the taxpayer is an insurer, its designated insurance property for the year,(d)a share of the capital stock of a corporation (other than a mutual fund corporation) that is not listed on a designated stock exchange, an interest in a partnership or an interest in a trust (other than a unit of a mutual fund trust or an income interest in a trust resident in Canada), if, at any particular time during the 60-month period that ends at that time, more than 50% of the fair market value of the share or interest, as the case may be, was derived directly or indirectly (otherwise than through a corporation, partnership or trust the shares or interests in which were not themselves taxable Canadian property at the particular time) from one or any combination of(i)real or immovable property situated in Canada,(ii)Canadian resource properties,(iii)timber resource properties, and(iv)options in respect of, or interests in, or for civil law rights in, property described in any of subparagraphs (i) to (iii), whether or not the property exists,(e)a share of the capital stock of a corporation that is listed on a designated stock exchange, a share of the capital stock of a mutual fund corporation or a unit of a mutual fund trust, if, at any particular time during the 60-month period that ends at that time,(i)25% or more of the issued shares of any class of the capital stock of the corporation, or 25% or more of the issued units of the trust, as the case may be, were owned by or belonged to one or any combination of(A)the taxpayer,(B)persons with whom the taxpayer did not deal at arm’s length, and(C)partnerships in which the taxpayer or a person referred to in clause (B) holds a membership interest directly or indirectly through one or more partnerships, and(ii)more than 50% of the fair market value of the share or unit, as the case may be, was derived directly or indirectly from one or any combination of properties described under subparagraphs (d)(i) to (iv), or(f)an option in respect of, or an interest in, or for civil law a right in, a property described in any of paragraphs (a) to (e), whether or not the property exists,
(i)property used in carrying on an insurance business, and(ii)where the taxpayer is non-resident, ships and aircraft used principally in international traffic and personal or movable property pertaining to their operation if the country in which the taxpayer is resident does not impose tax on gains of persons resident in Canada from dispositions of such property,
(i)real or immovable property situated in Canada,(ii)Canadian resource properties,(iii)timber resource properties, and(iv)options in respect of, or interests in, or for civil law rights in, property described in any of subparagraphs (i) to (iii), whether or not the property exists,
(i)25% or more of the issued shares of any class of the capital stock of the corporation, or 25% or more of the issued units of the trust, as the case may be, were owned by or belonged to one or any combination of(A)the taxpayer,(B)persons with whom the taxpayer did not deal at arm’s length, and(C)partnerships in which the taxpayer or a person referred to in clause (B) holds a membership interest directly or indirectly through one or more partnerships, and(ii)more than 50% of the fair market value of the share or unit, as the case may be, was derived directly or indirectly from one or any combination of properties described under subparagraphs (d)(i) to (iv), or
(A)the taxpayer,(B)persons with whom the taxpayer did not deal at arm’s length, and(C)partnerships in which the taxpayer or a person referred to in clause (B) holds a membership interest directly or indirectly through one or more partnerships, and
(g)a Canadian resource property,(h)a timber resource property,(i)an income interest in a trust resident in Canada,(j)a right to a share of the income or loss under an agreement referred to in paragraph 96(1.1)(a), and(k)a life insurance policy in Canada; (bien canadien imposable)
(a)a share issued after December 15, 1987 that is a short-term preferred share at that particular time, or(b)a share (other than a grandfathered share) of the capital stock of a corporation issued after 8:00 p.m Eastern Daylight Saving Time, June 18, 1987 where, at that particular time by reason of the terms or conditions of the share or any agreement in respect of the share or its issue to which the corporation, or a specified person in relation to the corporation, is a party,(i)it may reasonably be considered, having regard to all the circumstances, that the amount of the dividends that may be declared or paid on the share (in this definition referred to as the “dividend entitlement”) is, by way of a formula or otherwise(A)fixed,(B)limited to a maximum, or(C)established to be not less than a minimum (including any amount determined on a cumulative basis) and with respect to the dividend that may be declared or paid on the share there is a preference over any other dividend that may be declared or paid on any other share of the capital stock of the corporation,(ii)it may reasonably be considered, having regard to all the circumstances, that the amount that the shareholder is entitled to receive in respect of the share on the dissolution, liquidation or winding-up of the corporation or on the redemption, acquisition or cancellation of the share (unless the requirement to redeem, acquire or cancel the share arises only in the event of the death of the shareholder or by reason only of a right to convert or exchange the share) or on a reduction of the paid-up capital of the share by the corporation or by a specified person in relation to the corporation (in this definition referred to as the “liquidation entitlement”) is, by way of a formula or otherwise(A)fixed,(B)limited to a maximum, or(C)established to be not less than a minimum,and, for the purposes of this subparagraph,shareholderincludes a shareholder of a shareholder,(iii)the share is convertible or exchangeable at any time, unless(A)it is convertible into or exchangeable for(I)another share of the corporation or a corporation related to the corporation that, if issued, would not be a taxable preferred share,(II)a right or warrant that, if exercised, would allow the person exercising it to acquire only a share of the corporation or a corporation related to the corporation that, if issued, would not be a taxable preferred share, or(III)both a share described in subclause (I) and a right or warrant described in subclause (II), and(B)all the consideration receivable for the share on the conversion or exchange is the share described in subclause (I) or the right or warrant described in subclause (II) or both, as the case may be, and, for the purposes of this clause, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of subclauses (I) to (III)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1 or VI.1, or(iv)any person (other than the corporation) was, at or immediately before that particular time, obligated, either absolutely or contingently, and either immediately or in the future, to effect any undertaking (in this subparagraph referred to as a “guarantee agreement”), including any guarantee, covenant or agreement to purchase or repurchase the share, and including the lending of funds to or the placing of amounts on deposit with, or on behalf of, the shareholder or any specified person in relation to the shareholder given(A)to ensure that any loss that the shareholder or a specified person in relation to the shareholder may sustain by reason of the ownership, holding or disposition of the share or any other property is limited in any respect, or(B)to ensure that the shareholder or a specified person in relation to the shareholder will derive earnings by reason of the ownership, holding or disposition of the share or any other property,and the guarantee agreement was given as part of a transaction or event or a series of transactions or events that included the issuance of the share and, for the purposes of this paragraph, where a guarantee agreement in respect of a share is given at any particular time after 8:00 p.m