A-19.
(a)a corporation, commission or association (in this subsection referred to as “the entity”) would, but for this subsection, be described in any of paragraphs (1)(d) to (d.6),(b)one or more other persons (other than Her Majesty in right of Canada or a province, a municipality in Canada or a person which, at the particular time, is a person described in any of subparagraphs (1)(d) to (d.6)) have at the particular time one or more rights in equity or otherwise, either immediately or in the future and either absolutely or contingently to, or to acquire, shares or capital of the entity, and(c)the exercise of the rights referred to in paragraph (b) would result in the entity not being a person described in any of paragraphs (1)(d.1) to (d.6) at the particular time,
(a)paragraph (1)(d) did not apply in respect of the person’s taxable income for the person’s last taxation year that began before 1999;(b)paragraph (1)(d.2), (d.3) or (d.4) would, but for this subsection, have applied in respect of the person’s taxable income for the person’s first taxation year that began after 1998;(c)there has been no change in the direct or indirect control of the person during the period that(i)began at the beginning of the person’s first taxation year that began after 1998, and(ii)ends at the end of the particular year;(d)the person elects in writing before 2002 that this subsection apply; and(e)the person has not notified the Minister in writing before the particular year that the election has been revoked.
(i)began at the beginning of the person’s first taxation year that began after 1998, and(ii)ends at the end of the particular year;
(a)under an agreement in writing between(i)the corporation, commission or association, and(ii)a person who is Her Majesty in right of Canada or of a province, a municipality, a municipal or public body or a corporation to which any of paragraphs (1)(d) to (d.6) applies and that is controlled by Her Majesty in right of Canada or of a province, by a municipality in Canada or by a municipal or public body in Canadawithin the geographical boundaries of,(iii)if the person is Her Majesty in right of Canada or a corporation controlled by Her Majesty in right of Canada, Canada,(iv)if the person is Her Majesty in right of a province or a corporation controlled by Her Majesty in right of a province, the province,(v)if the person is a municipality in Canada or a corporation controlled by a municipality in Canada, the municipality, and(vi)if the person is a municipal or public body performing a function of government in Canada or a corporation controlled by such a body, the area described in subsection (11) in respect of the person; or(b)in a province as(i)a producer of electrical energy or natural gas, or(ii)a distributor of electrical energy, heat, natural gas or water,where the activities are regulated under the laws of the province.
(i)the corporation, commission or association, and(ii)a person who is Her Majesty in right of Canada or of a province, a municipality, a municipal or public body or a corporation to which any of paragraphs (1)(d) to (d.6) applies and that is controlled by Her Majesty in right of Canada or of a province, by a municipality in Canada or by a municipal or public body in Canada
(iii)if the person is Her Majesty in right of Canada or a corporation controlled by Her Majesty in right of Canada, Canada,(iv)if the person is Her Majesty in right of a province or a corporation controlled by Her Majesty in right of a province, the province,(v)if the person is a municipality in Canada or a corporation controlled by a municipality in Canada, the municipality, and(vi)if the person is a municipal or public body performing a function of government in Canada or a corporation controlled by such a body, the area described in subsection (11) in respect of the person; or
(i)a producer of electrical energy or natural gas, or(ii)a distributor of electrical energy, heat, natural gas or water,
(a)the person is a corporation shares of the capital stock of which are owned by one or more other persons that, in total, give them more than 10% of the votes that could be cast at a meeting of shareholders of the corporation, other than shares that are owned by one or more persons each of which is(i)Her Majesty in right of Canada or of a province,(ii)a municipality in Canada,(iii)a municipal or public body performing a function of government in Canada, or(iv)a corporation, a commission or an association, to which any of paragraphs (1)(d) to (d.6) apply; or(b)the person is, or would be if the person were a corporation, controlled, directly or indirectly in any manner whatever, by a person, or by a group of persons that includes a person, who is not(i)Her Majesty in right of Canada or of a province,(ii)a municipality in Canada,(iii)a municipal or public body performing a function of government in Canada, or(iv)a corporation, a commission or an association, to which any of paragraphs (1)(d) to (d.6) apply.
(i)Her Majesty in right of Canada or of a province,(ii)a municipality in Canada,(iii)a municipal or public body performing a function of government in Canada, or(iv)a corporation, a commission or an association, to which any of paragraphs (1)(d) to (d.6) apply; or
(i)Her Majesty in right of Canada or of a province,(ii)a municipality in Canada,(iii)a municipal or public body performing a function of government in Canada, or(iv)a corporation, a commission or an association, to which any of paragraphs (1)(d) to (d.6) apply.
(a)the property of the club shall be deemed to be the property of the trust;(b)where the club is a corporation, the corporation shall be deemed to be the trustee having control of the trust property;(c)where the club is not a corporation, the officers of the club shall be deemed to be the trustees having control of the trust property;(d)tax under this Part is payable by the trust on its taxable income for each taxation year;(e)the income and taxable income of the trust for each taxation year shall be computed on the assumption that it had no incomes or losses other than(i)incomes and losses from property, and(ii)taxable capital gains and allowable capital losses from dispositions of property, other than property used exclusively for and directly in the course of providing the dining, recreational or sporting facilities provided by it for its members;(f)in computing the taxable income of the trust for each taxation year(i)there may be deducted, in addition to any other deductions permitted by this Part, $2,000, and(ii)no deduction shall be made under section 112 or 113; and(g)the provisions of Subdivision K of Division B (except subsections 104(1) and 104(2)) do not apply in respect of the trust.
(i)incomes and losses from property, and(ii)taxable capital gains and allowable capital losses from dispositions of property, other than property used exclusively for and directly in the course of providing the dining, recreational or sporting facilities provided by it for its members;
(i)there may be deducted, in addition to any other deductions permitted by this Part, $2,000, and(ii)no deduction shall be made under section 112 or 113; and
(a)$500, and(b)2% of its taxable income for the year; and
(a)12, and(b)the number of months in whole or in part that are in the period that begins on the day on or before which the prescribed form is required to be filed and ends on the day it is filed.
(a)a corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to(i)the other corporation, or(ii)the other corporation and persons with whom the other corporation does not deal at arm’s length,but a corporation shall be deemed not to have acquired control of a corporation if it has not purchased (or otherwise acquired for a consideration) any of the shares in the capital stock of that corporation; and(b)there shall be included in computing a corporation’s income and in determining its gross revenue the amount of all gifts received by the corporation and all amounts contributed to the corporation to be used for scientific research and experimental development.
(i)the other corporation, or(ii)the other corporation and persons with whom the other corporation does not deal at arm’s length,
(a)there may be deducted an amount not exceeding its gross revenue for the year computed without including or deducting any amount under this subsection; and(b)there shall be included any amount that has been deducted under this subsection for the preceding taxation year.
(a)the taxation year of the person that would, but for this paragraph, have included that time is deemed to end immediately before that time, a new taxation year of the person is deemed to begin at that time and, for the purpose of determining the person’s fiscal period after that time, the person is deemed not to have established a fiscal period before that time;(a.1)for the purpose of computing the person’s income for its first taxation year that ends after that time, the person is deemed to have deducted under sections 20, 138 and 140 in computing the person’s income for its taxation year that ended immediately before that time, the greatest amount that could have been claimed or deducted by the person for that year as a reserve under those sections;(b)the person is deemed to have disposed, at the time (in this subsection referred to as the “disposition time”) that is immediately before the time that is immediately before that time, of each property held by the person immediately before that time for an amount equal to its fair market value at that time and to have reacquired the property at that time at a cost equal to that fair market value; and(c)for the purposes of applying sections 37, 65 to 66.4, 66.7, 111 and 126, subsections 127(5) to (36) and section 127.3 to the person, the person is deemed to be a new corporation or trust, as the case may be, the first taxation year of which began at that time.(d)[Repealed, 2016, c. 12, s. 54]
(a)the geographical boundaries that encompass the area in respect of which an Act of Parliament or an agreement given effect by an Act of Parliament recognizes or grants to the body a power to impose taxes; or(b)if paragraph (a) does not apply, the geographical boundaries within which that body has been authorized by the laws of Canada or of a province to exercise that function.
(a)the total of all amounts each of which is a taxable dividend or an amount received or receivable by the person as, on account of, in lieu of or in satisfaction of, interest, rentals or royalties in the period exceeds $10,000;(b)at the end of the person’s preceding fiscal period the total assets of the person (determined in accordance with generally accepted accounting principles) exceeded $200,000; or(c)an information return was required to be filed under this subsection by the person for a preceding fiscal period.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]R.S., 1985, c. 1 (5th Supp.), s. 1491994, c.7, Sch