T-0.1, in respect of an input tax refund relating to property or service that had been previously deducted in determining the net tax of the taxpayer, that amount is deemed to be assistance repaid at the particular time in respect of the property or service under a legal obligation to repay all or part of that assistance.Marginal note:When property available for use(19)Except as otherwise provided, property shall be considered to have become available for use for the purposes of this Act at the time at which it has, or would have if it were depreciable property, become available for use for the purpose of subsection 13(26).Marginal note:Partition of property(20)Subject to subsections (21) to (23), for the purposes of this Act, if at any time a property owned by two or more persons is the subject of a partition, the following rules apply, notwithstanding any retroactive or declaratory effect of the partition:(a)each such person who had, immediately before that time, an interest in, or for civil law a right in, the property (which interest or right in the property is referred to in this subsection and subsection (21) as an “interest” or a “right”, as the case may be) is deemed not to have disposed at that time of that proportion, not exceeding 100%, of the interest or right that the fair market value of that person’s interest or right in the property immediately after that time is of the fair market value of that person’s interest or right in the property immediately before that time,(b)each such person who has an interest or a right in the property immediately after that time is deemed not to have acquired at that time that proportion of the interest or right that the fair market value of that person’s interest or right in the property immediately before that time is of the fair market value of that person’s interest or right in the property immediately after that time,(c)each such person who had an interest or a right in the property immediately before that time is deemed to have had until that time, and to have disposed at that time of, that proportion of the person’s interest or right to which paragraph (a) does not apply,(d)each such person who has an interest or a right in the property immediately after that time is deemed not to have had before that time, and to have acquired at that time, that proportion of the person’s interest or right to which paragraph (b) does not apply, and(e)paragraphs (a) to (d) do not apply if the interest or right of the person is an interest or a right in fungible tangible property, or for civil law fungible corporeal property described in that person’s inventory,and, for the purposes of this subsection, if an interest or a right in the property is an undivided interest or right, the fair market value of the interest or right at any time is deemed to be equal to that proportion of the fair market value of the property at that time that the interest or right is of all the undivided interests or rights in the property.Marginal note:Subdivision of property(21)If a property that was owned by two or more persons is the subject of a partition among those persons and, as a consequence of it, each such person has, in the property, a new interest or right the fair market value of which immediately after the partition, expressed as a percentage of the fair market value of all the new interests or rights in the property immediately after the partition, is equal to the fair market value of that person’s undivided interest or right immediately before the partition, expressed as a percentage of the fair market value of all the undivided interests or rights in the property immediately before the partition,(a)subsection (20) does not apply to the property, and(b)the new interest or right of each such person is deemed to be a continuation of that person’s undivided interest or right in the property immediately before the partition,and, for the purposes of this subsection,(c)subdivisions of a building or of a parcel of land that are established in the course of, or in contemplation of, a partition and that are co-owned by the same persons who co-owned the building or the parcel of land, or by their assignee, shall be regarded as one property, and(d)if an interest or a right in the property is or includes an undivided interest or right, the fair market value of the interest or right shall be determined without regard to any discount or premium that applies to a minority or majority interest or right in the property.Marginal note:Matrimonial regimes(22)Where at any time property could, as a consequence of the dissolution of a matrimonial regime between 2 spouses or common-law partners, be the subject of a partition, for the purposes of this Act(a)where that property was owned by one of the spouses or common-law partners immediately before it became subject to that regime and had not subsequently been disposed of before that time, it shall be deemed to be owned at that time by that spouse or common-law partner and not by the other spouse or common-law partner; and(b)in any other case, the property shall be deemed to be owned by the spouse or common-law partner who has the administration of that property at that time and not by the other spouse or common-law partner.Marginal note:Dissolution of a matrimonial regime(23)Where, immediately after the dissolution of a matrimonial regime (other than a dissolution occurring as a consequence of death), the owner of a property that was subject to that regime is not the person, or the estate of the person, who is deemed by subsection 248(22) to have been the owner of the property immediately before the dissolution, the person shall be deemed for the purposes of this Act to have transferred the property to the person’s spouse or common-law partner immediately before the dissolution.Marginal note:Transfers after death(23.1)If, as a consequence of the laws of a province relating to spouses’ or common-law partners’ interests or rights in respect of property as a result of marriage or common-law partnership, property is, after the death of a taxpayer,(a)transferred or distributed to a person who was the taxpayer’s spouse or common-law partner at the time of the death, or acquired by that person, the property shall be deemed to have been so transferred, distributed or acquired, as the case may be, as a consequence of the death; or(b)transferred or distributed to the taxpayer’s estate, or acquired by the taxpayer’s estate, the property shall be deemed to have been so transferred, distributed or acquired, as the case may be, immediately before the time that is immediately before the death.Marginal note:Accounting methods(24)For greater certainty, it is hereby declared that, unless specifically required, neither the equity nor the consolidation method of accounting shall be used to determine any amount for the purposes of this Act.Marginal note:Beneficially interested(25)For the purposes of this Act,(a)a person or partnership beneficially interested in a particular trust includes any person or partnership that has any right (whether immediate or future, whether absolute or contingent or whether conditional on or subject to the exercise of any discretion by any person or partnership) as a beneficiary under a trust to receive any of the income or capital of the particular trust either directly from the particular trust or indirectly through one or more trusts or partnerships;(b)except for the purpose of this paragraph, a particular person or partnership is deemed to be beneficially interested in a particular trust at a particular time where(i)the particular person or partnership is not beneficially interested in the particular trust at the particular time,(ii)because of the terms or conditions of the particular trust or any arrangement in respect of the particular trust at the particular time, the particular person or partnership might, because of the exercise of any discretion by any person or partnership, become beneficially interested in the particular trust at the particular time or at a later time, and(iii)at or before the particular time, either(A)the particular trust has acquired property, directly or indirectly in any manner whatever, from(I)the particular person or partnership,(II)another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length,(III)a person or partnership with whom the other person referred to in subclause 248(25)(b)(iii)(A)(II) does not deal at arm’s length,(IV)a controlled foreign affiliate of the particular person or of another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length, or(V)a non-resident corporation that would, if the particular partnership were a corporation resident in Canada, be a controlled foreign affiliate of the particular partnership, or(B)a person or partnership described in any of subclauses 248(25)(b)(iii)(A)(I) to 248(25)(b)(iii)(A)(V) has given a guarantee on behalf of the particular trust or provided any other financial assistance whatever to the particular trust; and(c)a member of a partnership that is beneficially interested in a trust is deemed to be beneficially interested in the trust.Marginal note:Trust-to-trust transfers(25.1)If, at any time, a particular trust transfers property to another trust (other than a trust governed by a registered retirement savings plan or by a registered retirement income fund) in circumstances to which paragraph (f) of the definitiondispositionin subsection (1) applies, without affecting the personal liabilities under this Act of the trustees of either trust or the application of subsection 104(5.8),(a)the other trust is deemed to be after that time the same trust as, and a continuation of, the particular trust; and(b)for greater certainty, if, as a result of a transaction or event, the property was deemed to be taxable Canadian property of the particular trust by any of paragraphs 51(1)(f), 85(1)(i) and 85.1(1)(a), subsection 85.1(5), paragraph 85.1(8)(b), subsections 87(4) and (5) and paragraphs 97(2)(c) and 107(3.1)(d), the property is also deemed to be, at any time that is within 60 months after the transaction or event, taxable Canadian property of the other trust.Marginal note:Trusts to ensure obligations fulfilled(25.2)Except for the purpose of this subsection, where at any time property is transferred to a trust in circumstances to which paragraph (k) of the definitiondispositionin subsection (1) applies, the trust is deemed to deal with the property as agent for the transferor throughout the period that begins at the time of the transfer and ends at the time of the first change after that time in the beneficial ownership of the property.Marginal note:Cost of trust interest(25.3)The cost to a taxpayer of a particular unit of a trust is deemed to be equal to the amount described in paragraph (a) where(a)the trust issues the particular unit to the taxpayer directly in satisfaction of a right to enforce payment of an amount by the trust in respect of the taxpayer’s capital interest in the trust;(b)at the time that the particular unit is issued, the trust is neither a personal trust nor a trust prescribed for the purpose of subsection 107(2); and(c)either(i)the particular unit is capital property and the amount is not proceeds of disposition of a capital interest in the trust, or(ii)the particular unit is not capital property and subparagraph 53(2)(h)(i.1) does not apply in respect of the amount described in paragraph (a) but would so apply if that subparagraph were read without reference to clauses 53(2)(h)(i.1)(A) and (B).Marginal note:Where acquisition by another of right to enforce(25.4)If at a particular time a taxpayer’s capital interest in a trust includes a right to enforce payment of an amount by the trust, the amount shall be added at the particular time to the cost otherwise determined to the taxpayer of the capital interest where(a)immediately after the particular time there is a disposition by the taxpayer of the capital interest;(b)as a consequence of the disposition, the right to enforce payment of the amount is acquired by another person or partnership; and(c)if the right to enforce payment of the amount had been satisfied by a payment to the taxpayer by the trust, there would have been no disposition of that right for the purposes of this Act because of the application of paragraph (i) of the definitiondispositionin subsection (1).Marginal note:Debt obligations(26)For greater certainty, where at any time a person or partnership (in this subsection referred to as the “debtor”) becomes liable to repay money borrowed by the debtor or becomes liable to pay an amount (other than interest)(a)as consideration for any property acquired by the debtor or services rendered to the debtor, or(b)that is deductible in computing the debtor’s income,for the purposes of applying the provisions of this Act relating to the treatment of the debtor in respect of the liability, the liability shall be considered to be an obligation, issued at that time by the debtor, that has a principal amount at that time equal to the amount of the liability at that time.Marginal note:Parts of debt obligations(27)For greater certainty,(a)unless the context requires otherwise, an obligation issued by a debtor includes any part of a larger obligation that was issued by the debtor;(b)the principal amount of that part shall be considered to be the portion of the principal amount of that larger obligation that relates to that part; and(c)the amount for which that part was issued shall be considered to be the portion of the amount for which that larger obligation was issued that relates to that part.Marginal note:Limitation respecting inclusions, deductions and tax credits(28)Unless a contrary intention is evident, no provision of this Act shall be read or construed(a)to require the inclusion or permit the deduction, either directly or indirectly, in computing a taxpayer’s income, taxable income or taxable income earned in Canada, for a taxation year or in computing a taxpayer’s income or loss for a taxation year from a particular source or from sources in a particular place, of any amount to the extent that the amount has already been directly or indirectly included or deducted, as the case may be, in computing such income, taxable income, taxable income earned in Canada or loss, for the year or any preceding taxation year;(b)to permit the deduction, either directly or indirectly, in computing a taxpayer’s tax payable under any Part of this Act for a taxation year of any amount to the extent that the amount has already been directly or indirectly deducted in computing such tax payable for the year or any preceding taxation year; or(c)to consider an amount to have been paid on account of a taxpayer’s tax payable under any Part of this Act for a taxation year to the extent that the amount has already been considered to have been paid on account of such tax payable for the year or any preceding taxation year.Marginal note:Farming or fishing business(29)For the purposes of subsection 40(1.1) and sections 70, 73 and 110.6, if at any time a person or partnership carries on a farming business and a fishing business, a property used at that time principally in a combination of the activities of the farming business and the fishing business is deemed to be used at that time principally in the course of carrying on a farming or fishing business.Marginal note:Intention to give(30)The existence of an amount of an advantage in respect of a transfer of property does not in and by itself disqualify the transfer from being a gift to a qualified donee if(a)the amount of the advantage does not exceed 80% of the fair market value of the transferred property; or(b)the transferor of the property establishes to the satisfaction of the Minister that the transfer was made with the intention to make a gift.Marginal note:Eligible amount of gift or monetary contribution(31)The eligible amount of a gift or monetary contribution is the amount by which the fair market value of the property that is the subject of the gift or monetary contribution exceeds the amount of the advantage, if any, in respect of the gift or monetary contribution.Marginal note:Amount of advantage(32)The amount of the advantage in respect of a gift or monetary contribution by a taxpayer is the total of(a)the total of all amounts, other than an amount referred to in paragraph (b), each of which is the value, at the time the gift or monetary contribution is made, of any property, service, compensation, use or other benefit that the taxpayer, or a person or partnership who does not deal at arm’s length with the taxpayer, has received, obtained or enjoyed, or is entitled, either immediately or in the future and either absolutely or contingently, to receive, obtain, or enjoy(i)that is consideration for the gift or monetary contribution,(ii)that is in gratitude for the gift or monetary contribution, or(iii)that is in any other way related to the gift or monetary contribution, and(b)the limited-recourse debt, determined under subsection 143.2(6.1), in respect of the gift or monetary contribution at the time the gift or monetary contribution is made.Marginal note:Cost of property acquired by donor(33)The cost to a taxpayer of a property, acquired by the taxpayer in circumstances where subsection (32) applies to include the value of the property in computing the amount of the advantage in respect of a gift or monetary contribution, is equal to the fair market value of the property at the time the gift or monetary contribution is made.Marginal note:Repayment of limited-recourse debt(34)If at any time in a taxation year a taxpayer has paid an amount (in this subsection referred to as the “repaid amount”) on account of the principal amount of an indebtedness which was, before that time, an unpaid principal amount that was a limited-recourse debt referred to in subsection 143.2(6.1) (in this subsection referred to as the “former limited-recourse debt”) in respect of a gift or monetary contribution (in this subsection referred to as the “original gift” or “original monetary contribution”, respectively, as the case may be) of the taxpayer (otherwise than by way of an assignment or transfer of a guarantee, security or similar indemnity or covenant, or by way of a payment in respect of which any taxpayer referred to in subsection 143.2(6.1) has incurred an indebtedness that would be a limited-recourse debt referred to in that subsection if that indebtedness were in respect of a gift or monetary contribution made at the time that that indebtedness was incurred), the following rules apply:(a)if the former limited-recourse debt is in respect of the original gift, for the purposes of sections 110.1 and 118.1, the taxpayer is deemed to have made in the taxation year a gift to a qualified donee, the eligible amount of which deemed gift is the amount, if any, by which(i)the amount that would have been the eligible amount of the original gift, if the total of all such repaid amounts paid at or before that time were paid immediately before the original gift was made,exceeds(ii)the total of(A)the eligible amount of the original gift, and(B)the eligible amount of all other gifts deemed by this paragraph to have been made before that time in respect of the original gift; and(b)if the former limited-recourse debt is in respect of the original monetary contribution, for the purposes of subsection 127(3), the taxpayer is deemed to have made in the taxation year a monetary contribution referred to in that subsection, the eligible amount of which is the amount, if any, by which(i)the amount that would have been the eligible amount of the original monetary contribution, if the total of all such repaid amounts paid at or before that time were paid immediately before the original monetary contribution was made,exceeds(ii)the total of(A)the eligible amount of the original monetary contribution, and(B)the eligible amount of all other monetary contributions deemed by this paragraph to have been made before that time in respect of the original monetary contribution.Marginal note:Deemed fair market value(35)For the purposes of subsection (31), paragraph 69(1)(b) and subsections 110.1(2.1) and (3) and 118.1(5.4), (6) and (13.2), the fair market value of a property that is the subject of a gift made by a taxpayer to a qualified donee is deemed to be the lesser of the fair market value of the property otherwise determined and the cost or, in the case of capital property, the adjusted cost base or, in the case of a life insurance policy in respect of which the taxpayer is a policyholder, the adjusted cost basis (as defined in subsection 148(9)), of the property to the taxpayer immediately before the gift is made if(a)the taxpayer acquired the property under a gifting arrangement that is a tax shelter as defined in subsection 237.1(1); or(b)except where the gift is made as a consequence of the taxpayer’s death,(i)the taxpayer acquired the property less than three years before the day that the gift is made, or(ii)the taxpayer acquired the property less than 10 years before the day that the gift is made and it is reasonable to conclude that, at the time the taxpayer acquired the property, one of the main reasons for the acquisition was to make a gift of the property to a qualified donee.Marginal note:Non-arm’s length transaction(36)If a taxpayer acquired a property, otherwise than by reason of the death of an individual, that is the subject of a gift to which subsection (35) applies because of subparagraph (35)(b)(i) or (ii) and the property was, at any time within the 3-year or 10-year period, respectively, that ends when the gift was made, acquired by a person or partnership with whom the taxpayer does not deal at arm’s length, for the purpose of applying subsection (35) to the taxpayer, the cost, or in the case of capital property, the adjusted cost base, of the property to the taxpayer immediately before the gift is made is deemed to be equal to the lowest amount that is the cost, or in the case of capital property, the adjusted cost base, to the taxpayer or any of those persons or partnerships immediately before the property was disposed of by that person or partnership.Marginal note:Non-application of subsection (35)(37)Subsection (35) does not apply to a gift(a)of inventory;(b)of real property or an immovable situated in Canada;(c)of an object referred to in subparagraph 39(1)(a)(i.1), other than an object acquired under a gifting arrangement (as defined in subsection 237.1(1)) that is a tax shelter;(d)of property to which paragraph 38(a.1) or (a.2) applies;(e)of a share of the capital stock of a corporation if(i)the share was issued by the corporation to the donor,(ii)immediately before the gift, the corporation was controlled by the donor, a person related to the donor or a group of persons each of whom is related to the donor, and(iii)subsection (35) would not have applied in respect of the consideration for which the share was issued had that consideration been donated by the donor to the qualified donee when the share was so donated;(f)by a corporation of property if(i)the property was acquired by the corporation in circumstances to which subsection 85(1) or (2) applied,(ii)immediately before the gift, the shareholder from whom the corporation acquired the property controlled the corporation or was related to a person or each member of a group of persons that controlled the corporation, and(iii)subsection (35) would not have applied in respect of the property had the property not been transferred to the corporation and had the shareholder made the gift to the qualified donee when the corporation so made the gift; or(g)of a property that was acquired in circumstances where subsection 70(6) or (9) or 73(1), (3) or (4) applied, unless subsection (36) would have applied if this subsection were read without reference to this paragraph.Marginal note:Artificial transactions(38)The eligible amount of a particular gift of property by a taxpayer is nil if it can reasonably be concluded that the particular gift relates to a transaction or series of transactions(a)one of the purposes of which is to avoid the application of subsection (35) to a gift of any property; or(b)that would, if this Act were read without reference to this paragraph, result in a tax benefit to which subsection 245(2) applies.Marginal note:Substantive gift(39)If a taxpayer disposes of a property (in this subsection referred to as thesubstantive gift) that is a capital property of the taxpayer, to a recipient that is aregistered party, aregistered associationor acandidate, as those terms are defined in theCanada Elections Act, or that is a qualified donee, subsection (35) would have applied in respect of the substantive gift if it had been the subject of a gift by the taxpayer to a qualified donee, and all or a part of the proceeds of disposition of the substantive gift are (or are substituted, directly or indirectly in any manner whatever, for) property that is the subject of a gift or monetary contribution by the taxpayer to the recipient or any person dealing not at arm’s length with the recipient, the following rules apply:(a)for the purpose of subsection (31), the fair market value of the property that is the subject of the gift or monetary contribution made by the taxpayer is deemed to be that proportion of the lesser of the fair market value of the substantive gift and the cost, or if the substantive gift is capital property of the taxpayer, the adjusted cost base, of the substantive gift to the taxpayer immediately before the disposition to the recipient, that the fair market value otherwise determined of the property that is the subject of the gift or monetary contribution is of the proceeds of disposition of the substantive gift; and(b)if the substantive gift is capital property of the taxpayer, for the purpose of the definitionsproceeds of dispositionof property in subsection 13(21) and section 54, the sale price of the substantive gift is to be reduced by the amount by which the fair market value of the property that is the subject of the gift (determined without reference to this section) exceeds the fair market value determined under paragraph (a).(c)[Repealed, 2016, c. 12, s. 63]Marginal note:Inter-charity gifts(40)Subsection (30) does not apply in respect of a gift received by a qualified donee from a registered charity.Marginal note:Information not provided(41)Notwithstanding subsection (31), the eligible amount of a gift or monetary contribution made by a taxpayer is nil if the taxpayer does not — before a receipt referred to in subsection 110.1(2), 118.1(2) or 127(3), as the case may be, is issued in respect of the gift or monetary contribution — inform the qualified donee or the recipient, as the case may be, of any circumstances in respect of which subsection (31), (35), (36), (38) or (39) requires that the eligible amount of the gift or monetary contribution be less than the fair market value, determined without reference to subsections (35), 110.1(3) and 118.1(6), of the property that is the subject of the gift or monetary contribution.Marginal note:Synthetic equity arrangements — disaggregation(42)For the purposes of the definitionsynthetic equity arrangementin subsection (1), paragraphs (c) and (d) of the definitiondividend rental arrangementin subsection (1) and subsections 112(2.31), (2.32) and (10), an arrangement that reflects the fair market value of more than one type ofidentical share(as defined in subsection 112(10)) is considered to be a separate arrangement with respect to each type of identical share the value of which the arrangement reflects.
(a)in the case of a loan made by the taxpayer, the total of all amounts advanced in respect of the loan at or before that time,(b)in the case of a loan or lending asset acquired by the taxpayer, the cost of the loan or lending asset to the taxpayer,(c)in the case of a loan or lending asset acquired by the taxpayer, the part of the amount, if any, by which(i)the principal amount of the loan or lending asset at the time it was so acquiredexceeds(ii)the cost to the taxpayer of the loan or lending assetthat was included in computing the taxpayer’s income for any taxation year ending at or before that time,(c.1)the total of all amounts each of which is an amount in respect of the loan or lending asset that was included in computing the taxpayer’s income for a taxation year that ended at or before that time in respect of changes in the value of the loan or lending asset attributable to the fluctuation in the value of a currency of a country other than Canada relative to Canadian currency,(d)where the taxpayer is an insurer, any amount in respect of the loan or lending asset that was deemed by reason of paragraph 142(3)(a) of theIncome Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, as it read in its application to the 1977 taxation year, to be a gain for any taxation year ending at or before that time, and(e)the total of all amounts each of which is an amount in respect of the loan or lending asset that was included under paragraph 12(1)(i) in computing the taxpayer’s income for any taxation year ending at or before that time
(i)the principal amount of the loan or lending asset at the time it was so acquired
(ii)the cost to the taxpayer of the loan or lending asset
(f)the part of the amount, if any, by which(i)the amount referred to in subparagraph (c)(ii)exceeds(ii)the amount referred to in subparagraph (c)(i)that was deducted in computing the taxpayer’s income for any taxation year ending at or before that time,(f.1)the total of all amounts each of which is an amount in respect of the loan or lending asset that was deducted in computing the taxpayer’s income for a taxation year that ended at or before that time in respect of changes in the value of the loan or lending asset attributable to the fluctuation in the value of a currency of a country other than Canada relative to Canadian currency,(g)the total of all amounts that, at or before that time, the taxpayer had received as or on account or in lieu of payment of or in satisfaction of the principal amount of the loan or lending asset,(h)where the taxpayer is an insurer, any amount in respect of the loan or lending asset that was deemed by reason of paragraph 142(3)(b) of theIncome Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, as it read in its application to the 1977 taxation year, to be a loss for any taxation year ending at or before that time, and(i)the total of all amounts each of which is an amount in respect of the loan or lending asset deducted under paragraph 20(1)(p) in computing the taxpayer’s income for any taxation year ending at or before that time; (coût amorti)
(i)the amount referred to in subparagraph (c)(ii)
(ii)the amount referred to in subparagraph (c)(i)
(a)notwithstanding paragraph (b), in any case where subsection 112(2.1), 112(2.2) or 112(2.4), or section 187.2 or 187.3 or subsection 258(3) or 258(5) applies to a stock dividend, theamountof the stock dividend is the greater of(i)the amount by which the paid-up capital of the corporation that paid the dividend is increased by reason of the payment of the dividend, and(ii)the fair market value of the share or shares paid as a stock dividend at the time of payment,(b)in any case where section 191.1 applies to a stock dividend, theamountof the stock dividend for the purposes of Part VI.1 is the greater of(i)the amount by which the paid-up capital of the corporation that paid the dividend is increased by reason of the payment of the dividend, and(ii)the fair market value of the share or shares paid as a stock dividend at the time of payment,and for any other purpose the amount referred to in subparagraph (i), and(b.1)[Repealed, 2013, c. 34, s. 358](c)in any other case, theamountof any stock dividend is the amount by which the paid-up capital of the corporation that paid the dividend is increased by reason of the payment of the dividend; (montant)
(i)the amount by which the paid-up capital of the corporation that paid the dividend is increased by reason of the payment of the dividend, and(ii)the fair market value of the share or shares paid as a stock dividend at the time of payment,
(i)the amount by which the paid-up capital of the corporation that paid the dividend is increased by reason of the payment of the dividend, and(ii)the fair market value of the share or shares paid as a stock dividend at the time of payment,
(a)a motor vehicle that is designed or adapted primarily to carry individuals on highways and streets and that has a seating capacity for not more than the driver and 8 passengers,
(b)an ambulance,(b.1)a clearly marked emergency-response vehicle that is used in connection with or in the course of an individual’s office or employment with a fire department or the police;(b.2)a clearly marked emergency medical response vehicle that is used, in connection with or in the course of an individual’s office or employment with an emergency medical response or ambulance service, to carry emergency medical equipment together with one or more emergency medical attendants or paramedics,(c)a motor vehicle acquired primarily for use as a taxi, a bus used in a business of transporting passengers or a hearse used in the course of a business of arranging or managing funerals,(d)except for the purposes of section 6, a motor vehicle acquired to be sold, rented or leased in the course of carrying on a business of selling, renting or leasing motor vehicles or a motor vehicle used for the purpose of transporting passengers in the course of carrying on a business of arranging or managing funerals, and(e)a motor vehicle(i)of a type commonly called a van or pick-up truck, or a similar vehicle, that has a seating capacity for not more than the driver and two passengers and that, in the taxation year in which it is acquired or leased, is used primarily for the transportation of goods or equipment in the course of gaining or producing income,(ii)of a type commonly called a van or pick-up truck, or a similar vehicle, the use of which, in the taxation year in which it is acquired or leased, is all or substantially all for the transportation of goods, equipment or passengers in the course of gaining or producing income, or(iii)of a type commonly called a pick-up truck that is used in the taxation year in which it is acquired or leased primarily for the transportation of goods, equipment or passengers in the course of earning or producing income at one or more locations in Canada that are(A)described, in respect of any of the occupants of the vehicle, in subparagraph 6(6)(a)(i) or (ii), and(B)at least 30 kilometres outside the nearest point on the boundary of the nearest population centre, as defined by the last census dictionary published by Statistics Canada before the year, that has a population of at least 40,000 individuals as determined in the last census published by Statistics Canada before the year; (automobile)
(i)of a type commonly called a van or pick-up truck, or a similar vehicle, that has a seating capacity for not more than the driver and two passengers and that, in the taxation year in which it is acquired or leased, is used primarily for the transportation of goods or equipment in the course of gaining or producing income,(ii)of a type commonly called a van or pick-up truck, or a similar vehicle, the use of which, in the taxation year in which it is acquired or leased, is all or substantially all for the transportation of goods, equipment or passengers in the course of gaining or producing income, or(iii)of a type commonly called a pick-up truck that is used in the taxation year in which it is acquired or leased primarily for the transportation of goods, equipment or passengers in the course of earning or producing income at one or more locations in Canada that are(A)described, in respect of any of the occupants of the vehicle, in subparagraph 6(6)(a)(i) or (ii), and(B)at least 30 kilometres outside the nearest point on the boundary of the nearest population centre, as defined by the last census dictionary published by Statistics Canada before the year, that has a population of at least 40,000 individuals as determined in the last census published by Statistics Canada before the year; (automobile)
(A)described, in respect of any of the occupants of the vehicle, in subparagraph 6(6)(a)(i) or (ii), and(B)at least 30 kilometres outside the nearest point on the boundary of the nearest population centre, as defined by the last census dictionary published by Statistics Canada before the year, that has a population of at least 40,000 individuals as determined in the last census published by Statistics Canada before the year; (automobile)
(a)if the taxpayer is a trust,(i)in the case where the time at which the taxation year ends is determined under paragraph 249(4)(a), the day that is(A)in the case where that time occurs in a calendar year after the end of the trust’s particular taxation year that ends on December 15 of that calendar year because of an election made under paragraph 132.11(1)(a), the balance-due day of the trust for the particular taxation year,(B)in the case where clause (A) does not apply and the trust’s particular taxation year that begins immediately after that time ends in the calendar year that includes that time, the balance-due day of the trust for the particular taxation year, and(C)in any other case, 90 days after the end of the calendar year that includes that time, and(ii)in any other case, the day that is 90 days after the end of the taxation year,(b)where the taxpayer is an individual who died after October in the year and before May in the following taxation year, the day that is 6 months after the day of death,(c)in any other case where the taxpayer is an individual, April 30 in the following taxation year, and(d)where the taxpayer is a corporation,(i)the day that is three months after the day on which the taxation year (in this subparagraph referred to as the “current year”) ends, if(A)an amount was deducted under section 125 in computing the corporation’s tax payable under this Part for the current year or for its preceding taxation year,(B)the corporation is, throughout the current year, a Canadian-controlled private corporation, and(C)either(I)in the case of a corporation that is not associated with another corporation in the current year, its taxable income for its preceding taxation year (determined before taking into consideration the specified future tax consequences for that preceding taxation year) does not exceed its business limit for that preceding taxation year, or(II)in the case of a corporation that is associated with one or more other corporations in the current year, the total of the taxable incomes of the corporation and of those other corporations for their last taxation years that ended in the last calendar year that ended before the end of the current year (determined before taking into consideration the specified future tax consequences for those last taxation years) does not exceed the total of the business limits of the corporation and of those other corporations for those last taxation years, and(ii)the day that is two months after the day on which the taxation year ends, in any other case; (date d’exigibilité du solde)
(i)in the case where the time at which the taxation year ends is determined under paragraph 249(4)(a), the day that is(A)in the case where that time occurs in a calendar year after the end of the trust’s particular taxation year that ends on December 15 of that calendar year because of an election made under paragraph 132.11(1)(a), the balance-due day of the trust for the particular taxation year,(B)in the case where clause (A) does not apply and the trust’s particular taxation year that begins immediately after that time ends in the calendar year that includes that time, the balance-due day of the trust for the particular taxation year, and(C)in any other case, 90 days after the end of the calendar year that includes that time, and(ii)in any other case, the day that is 90 days after the end of the taxation year,
(A)in the case where that time occurs in a calendar year after the end of the trust’s particular taxation year that ends on December 15 of that calendar year because of an election made under paragraph 132.11(1)(a), the balance-due day of the trust for the particular taxation year,(B)in the case where clause (A) does not apply and the trust’s particular taxation year that begins immediately after that time ends in the calendar year that includes that time, the balance-due day of the trust for the particular taxation year, and(C)in any other case, 90 days after the end of the calendar year that includes that time, and
(i)the day that is three months after the day on which the taxation year (in this subparagraph referred to as the “current year”) ends, if(A)an amount was deducted under section 125 in computing the corporation’s tax payable under this Part for the current year or for its preceding taxation year,(B)the corporation is, throughout the current year, a Canadian-controlled private corporation, and(C)either(I)in the case of a corporation that is not associated with another corporation in the current year, its taxable income for its preceding taxation year (determined before taking into consideration the specified future tax consequences for that preceding taxation year) does not exceed its business limit for that preceding taxation year, or(II)in the case of a corporation that is associated with one or more other corporations in the current year, the total of the taxable incomes of the corporation and of those other corporations for their last taxation years that ended in the last calendar year that ended before the end of the current year (determined before taking into consideration the specified future tax consequences for those last taxation years) does not exceed the total of the business limits of the corporation and of those other corporations for those last taxation years, and(ii)the day that is two months after the day on which the taxation year ends, in any other case; (date d’exigibilité du solde)
(A)an amount was deducted under section 125 in computing the corporation’s tax payable under this Part for the current year or for its preceding taxation year,(B)the corporation is, throughout the current year, a Canadian-controlled private corporation, and(C)either(I)in the case of a corporation that is not associated with another corporation in the current year, its taxable income for its preceding taxation year (determined before taking into consideration the specified future tax consequences for that preceding taxation year) does not exceed its business limit for that preceding taxation year, or(II)in the case of a corporation that is associated with one or more other corporations in the current year, the total of the taxable incomes of the corporation and of those other corporations for their last taxation years that ended in the last calendar year that ended before the end of the current year (determined before taking into consideration the specified future tax consequences for those last taxation years) does not exceed the total of the business limits of the corporation and of those other corporations for those last taxation years, and
(I)in the case of a corporation that is not associated with another corporation in the current year, its taxable income for its preceding taxation year (determined before taking into consideration the specified future tax consequences for that preceding taxation year) does not exceed its business limit for that preceding taxation year, or(II)in the case of a corporation that is associated with one or more other corporations in the current year, the total of the taxable incomes of the corporation and of those other corporations for their last taxation years that ended in the last calendar year that ended before the end of the current year (determined before taking into consideration the specified future tax consequences for those last taxation years) does not exceed the total of the business limits of the corporation and of those other corporations for those last taxation years, and
(a)a viscosity, determined in a prescribed manner, equal to or greater than 10,000 centipoise, or(b)a density, determined in a prescribed manner, equal to or less than 12 degrees API; (sables bitumineux)
(a)a corporation or partnership, or(b)any other association or taxpayer that carries on a business or is required by this Act to deduct or withhold an amount from an amount paid or credited or deemed to be paid or credited under this Act
(a)the processing in Canada of raw natural gas at a field separation and dehydration facility,(b)the processing in Canada of raw natural gas at a natural gas processing plant to any stage that is not beyond the stage of natural gas that is acceptable to a common carrier of natural gas,(c)the processing in Canada of hydrogen sulphide derived from raw natural gas to any stage that is not beyond the marketable sulphur stage,(d)the processing in Canada of natural gas liquids, at a natural gas processing plant where the input is raw natural gas derived from a natural accumulation of natural gas, to any stage that is not beyond the marketable liquefied petroleum stage or its equivalent,(e)the processing in Canada of crude oil (other than heavy crude oil recovered from an oil or gas well or a tar sands deposit) recovered from a natural accumulation of petroleum to any stage that is not beyond the crude oil stage or its equivalent, and(f)prescribed activities
(g)gas is not considered to cease to be raw natural gas solely because of its processing at a field separation and dehydration facility until it is received by a common carrier of natural gas, and(h)where all or part of a natural gas processing plant is devoted primarily to the recovery of ethane, the plant, or the part of the plant, as the case may be, is considered not to be a natural gas processing plant; (traitement préliminaire au Canada)
(a)a property that would, if this Act were read without reference to the definitionreal or immovable propertyin subsection 122.1(1), be a real or immovable property situated in Canada,(b)a Canadian resource property,(c)a timber resource property,(d)a share of the capital stock of a corporation, an income or a capital interest in a trust or an interest in a partnership — other than a taxable Canadian corporation, a SIFT trust (determined without reference to subsection 122.1(2)), a SIFT partnership (determined without reference to subsection 197(8)) or a real estate investment trust (as defined in subsection 122.1(1)) — if more than 50% of the fair market value of the share or interest is derived directly or indirectly from one or any combination of properties described in paragraphs (a) to (c), or(e)any right to or interest in — or, for civil law, any right to or in — any property described in any of paragraphs (a) to (d); (bien canadien immeuble, réel ou minier)
(a)is a Canadian partnership,(b)would, if it were a corporation, be resident in Canada (including, for greater certainty, a partnership that has its central management and control in Canada), or(c)was formed under the laws of a province; (société de personnes résidant au Canada)
(a)has so cohabited throughout the 12-month period that ends at that time, or(b)would be the parent of a child of whom the taxpayer is a parent, if this Act were read without reference to paragraphs 252(1)(c) and (e) and subparagraph 252(2)(a)(iii),
(a)where the property was depreciable property of the taxpayer of a prescribed class, the amount that would be that proportion of the undepreciated capital cost to the taxpayer of property of that class at that time that the capital cost to the taxpayer of the property is of the capital cost to the taxpayer of all property of that class that had not been disposed of by the taxpayer before that time if subsection 13(7) were read without reference to paragraph 13(7)(e) and if(i)paragraph 13(7)(b) were read as follows:“(b)where a taxpayer, having acquired property for some other purpose, has commenced at a later time to use it for the purpose of gaining or producing income, the taxpayer shall be deemed to have acquired it at that later time at a capital cost to the taxpayer equal to the fair market value of the property at that later time;”, and(ii)subparagraph 13(7)(d)(i) were read as follows:“(i)if the use regularly made by the taxpayer of the property for the purpose of gaining or producing income has increased, the taxpayer shall be deemed to have acquired at that time depreciable property of that class at a capital cost equal to the proportion of its fair market value at that time that the amount of the increase in the use regularly made by the taxpayer of the property for that purpose is of the whole of the use regularly made of the property, and”(b)where the property was capital property (other than depreciable property) of the taxpayer, its adjusted cost base to the taxpayer at that time,(c)where the property was property described in an inventory of the taxpayer, its value at that time as determined for the purpose of computing the taxpayer’s income,(c.1)where the taxpayer was a financial institution in its taxation year that includes that time and the property was a mark-to-market property for the year, the cost to the taxpayer of the property,(d)[Repealed, 2016, c. 12, s. 63](d.1)where the property was a loan or lending asset (other than a net income stabilization account or a property in respect of which paragraph (b), (c), (c.1) or (d.2) applies), the amortized cost of the property to the taxpayer at that time,(d.2)where the taxpayer was a financial institution in its taxation year that includes that time and the property was a specified debt obligation (other than a mark-to-market property for the year), the tax basis of the property to the taxpayer at that time,(e)where the property was a right of the taxpayer to receive an amount, other than property that is(i)a debt the amount of which was deducted under paragraph 20(1)(p) in computing the taxpayer’s income for a taxation year that ended before that time,(ii)a net income stabilization account,(iii)a right in respect of which paragraph (b), (c), (c.1), (d.1) or (d.2) applies, or(iv)a right to receive production (as defined in subsection 18.1(1)) to which a matchable expenditure (as defined in subsection 18.1(1)) relates,the amount the taxpayer has a right to receive,(e.1)where the property was a policy loan (within the meaning assigned by subsection 138(12)) of an insurer, nil,(e.2)where the property is an interest of a beneficiary under a qualifying environmental trust, nil, and(f)in any other case, the cost to the taxpayer of the property as determined for the purpose of computing the taxpayer’s income, except to the extent that that cost has been deducted in computing the taxpayer’s income for any taxation year ending before that time;
(i)paragraph 13(7)(b) were read as follows:“(b)where a taxpayer, having acquired property for some other purpose, has commenced at a later time to use it for the purpose of gaining or producing income, the taxpayer shall be deemed to have acquired it at that later time at a capital cost to the taxpayer equal to the fair market value of the property at that later time;”, and(ii)subparagraph 13(7)(d)(i) were read as follows:“(i)if the use regularly made by the taxpayer of the property for the purpose of gaining or producing income has increased, the taxpayer shall be deemed to have acquired at that time depreciable property of that class at a capital cost equal to the proportion of its fair market value at that time that the amount of the increase in the use regularly made by the taxpayer of the property for that purpose is of the whole of the use regularly made of the property, and”
“(b)where a taxpayer, having acquired property for some other purpose, has commenced at a later time to use it for the purpose of gaining or producing income, the taxpayer shall be deemed to have acquired it at that later time at a capital cost to the taxpayer equal to the fair market value of the property at that later time;”, and
“(i)if the use regularly made by the taxpayer of the property for the purpose of gaining or producing income has increased, the taxpayer shall be deemed to have acquired at that time depreciable property of that class at a capital cost equal to the proportion of its fair market value at that time that the amount of the increase in the use regularly made by the taxpayer of the property for that purpose is of the whole of the use regularly made of the property, and”
(i)a debt the amount of which was deducted under paragraph 20(1)(p) in computing the taxpayer’s income for a taxation year that ended before that time,(ii)a net income stabilization account,(iii)a right in respect of which paragraph (b), (c), (c.1), (d.1) or (d.2) applies, or(iv)a right to receive production (as defined in subsection 18.1(1)) to which a matchable expenditure (as defined in subsection 18.1(1)) relates,
(a)where the taxpayer is the only person who has received such an amount and who is a surviving spouse or common-law partner of the employee (which person is, in this definition, referred to as the “surviving spouse or common-law partner”), the lesser of(i)the total of all amounts so received by the taxpayer in the year, and(ii)the amount, if any, by which $10,000 exceeds the total of all amounts received by the taxpayer in preceding taxation years on or after the death of the employee in recognition of the employee’s service in an office or employment, or(b)where the taxpayer is not the surviving spouse or common-law partner of the employee, the lesser of(i)the total of all amounts so received by the taxpayer in the year, and(ii)that proportion of(A)the amount, if any, by which $10,000 exceeds the total of all amounts received by the surviving spouse or common-law partner of the employee at any time on or after the death of the employee in recognition of the employee’s service in an office or employmentthat(B)the amount described in subparagraph (i)is of(C)the total of all amounts received by all taxpayers other than the surviving spouse or common-law partner of the employee at any time on or after the death of the employee in recognition of the employee’s service in an office or employment; (prestation consécutive au décès)
(i)the total of all amounts so received by the taxpayer in the year, and(ii)the amount, if any, by which $10,000 exceeds the total of all amounts received by the taxpayer in preceding taxation years on or after the death of the employee in recognition of the employee’s service in an office or employment, or
(i)the total of all amounts so received by the taxpayer in the year, and(ii)that proportion of(A)the amount, if any, by which $10,000 exceeds the total of all amounts received by the surviving spouse or common-law partner of the employee at any time on or after the death of the employee in recognition of the employee’s service in an office or employmentthat(B)the amount described in subparagraph (i)is of(C)the total of all amounts received by all taxpayers other than the surviving spouse or common-law partner of the employee at any time on or after the death of the employee in recognition of the employee’s service in an office or employment; (prestation consécutive au décès)
(A)the amount, if any, by which $10,000 exceeds the total of all amounts received by the surviving spouse or common-law partner of the employee at any time on or after the death of the employee in recognition of the employee’s service in an office or employment
(B)the amount described in subparagraph (i)
(C)the total of all amounts received by all taxpayers other than the surviving spouse or common-law partner of the employee at any time on or after the death of the employee in recognition of the employee’s service in an office or employment; (prestation consécutive au décès)
(a)in the case of a trust governed by the arrangement, any amount that a person has a right under the arrangement at the end of the year to receive after the end of the year where the amount has been received, is receivable or may at any time become receivable by the trust as, on account or in lieu of salary or wages of the taxpayer for services rendered in the year or a preceding taxation year, and(b)in any other case, any amount that a person has a right under the arrangement at the end of the year to receive after the end of the year,
(a)the term of the agreement exceeds 180 days or the agreement is part of a series of agreements with a term that exceeds 180 days,(b)in the case of a purchase agreement, the difference between the fair market value of the property delivered on settlement, including partial settlement, of the agreement and the amount paid for the property is attributable, in whole or in part, to an underlying interest (including a value, price, rate, variable, index, event, probability or thing) other than(i)revenue, income or cashflow in respect of the property over the term of the agreement, changes in the fair market value of the property over the term of the agreement, or any similar criteria in respect of the property unless(A)the property is(I)aCanadian security(as defined in subsection 39(6)), or(II)an interest in a partnership the fair market value of which is derived, in whole or in part, from a Canadian security,(B)the agreement is an agreement to acquire property from(I)a tax-indifferent investor, or(II)afinancial institution(as defined in subsection 142.2(1)), and(C)it can reasonably be considered that one of the main purposes of the series of transactions or events, or any transaction or event in the series, of which the agreement is part is for all or any portion of the capital gain on a disposition (other than a disposition by the seller to the taxpayer under the agreement) of a Canadian security referred to in clause (A) — as part of the same series of transactions or events — to be attributable to amounts paid or payable on the Canadian security by the issuer of the Canadian security during the term of the agreement as(I)interest,(II)dividends, or(III)income of a trust other than income paid out of the taxable capital gains of the trust,(ii)if the purchase price is denominated in the currency of a country other than Canada, changes in the value of the Canadian currency relative to that other currency, or(iii)an underlying interest that relates to a purchase of currency, if it can reasonably be considered that the purchase is agreed to by the taxpayer in order to reduce its risk of fluctuations in the value of the currency in which a purchase or sale by the taxpayer of a capital property is denominated, in which an obligation that is a capital property of the taxpayer is denominated or from which a capital property of the taxpayer derives its value, and(c)in the case of a sale agreement,(i)the difference between the sale price of the property and the fair market value of the property at the time the agreement is entered into by the taxpayer is attributable, in whole or in part, to an underlying interest (including a value, price, rate, variable, index, event, probability or thing) other than(A)revenue, income or cashflow in respect of the property over the term of the agreement, changes in the fair market value of the property over the term of the agreement, or any similar criteria in respect of the property,(B)if the sale price is denominated in the currency of a country other than Canada, changes in the value of the Canadian currency relative to that other currency, or(C)an underlying interest that relates to a sale of currency, if it can reasonably be considered that the sale is agreed to by the taxpayer in order to reduce its risk of fluctuations in the value of the currency in which a purchase or sale by the taxpayer of a capital property is denominated, in which an obligation that is a capital property of the taxpayer is denominated or from which a capital property of the taxpayer derives its value, and(ii)the agreement is part of an arrangement that has the effect — or would have the effect if the agreements that are part of the arrangement and that were entered into by persons or partnerships not dealing at arm’s length with the taxpayer were entered into by the taxpayer instead of non-arm’s length persons or partnerships — of eliminating a majority of the taxpayer’s risk of loss and opportunity for gain or profit in respect of the property for a period of more than 180 days; (contrat dérivé à terme)
(i)revenue, income or cashflow in respect of the property over the term of the agreement, changes in the fair market value of the property over the term of the agreement, or any similar criteria in respect of the property unless(A)the property is(I)aCanadian security(as defined in subsection 39(6)), or(II)an interest in a partnership the fair market value of which is derived, in whole or in part, from a Canadian security,(B)the agreement is an agreement to acquire property from(I)a tax-indifferent investor, or(II)afinancial institution(as defined in subsection 142.2(1)), and(C)it can reasonably be considered that one of the main purposes of the series of transactions or events, or any transaction or event in the series, of which the agreement is part is for all or any portion of the capital gain on a disposition (other than a disposition by the seller to the taxpayer under the agreement) of a Canadian security referred to in clause (A) — as part of the same series of transactions or events — to be attributable to amounts paid or payable on the Canadian security by the issuer of the Canadian security during the term of the agreement as(I)interest,(II)dividends, or(III)income of a trust other than income paid out of the taxable capital gains of the trust,(ii)if the purchase price is denominated in the currency of a country other than Canada, changes in the value of the Canadian currency relative to that other currency, or(iii)an underlying interest that relates to a purchase of currency, if it can reasonably be considered that the purchase is agreed to by the taxpayer in order to reduce its risk of fluctuations in the value of the currency in which a purchase or sale by the taxpayer of a capital property is denominated, in which an obligation that is a capital property of the taxpayer is denominated or from which a capital property of the taxpayer derives its value, and
(A)the property is(I)aCanadian security(as defined in subsection 39(6)), or(II)an interest in a partnership the fair market value of which is derived, in whole or in part, from a Canadian security,(B)the agreement is an agreement to acquire property from(I)a tax-indifferent investor, or(II)afinancial institution(as defined in subsection 142.2(1)), and(C)it can reasonably be considered that one of the main purposes of the series of transactions or events, or any transaction or event in the series, of which the agreement is part is for all or any portion of the capital gain on a disposition (other than a disposition by the seller to the taxpayer under the agreement) of a Canadian security referred to in clause (A) — as part of the same series of transactions or events — to be attributable to amounts paid or payable on the Canadian security by the issuer of the Canadian security during the term of the agreement as(I)interest,(II)dividends, or(III)income of a trust other than income paid out of the taxable capital gains of the trust,
(I)aCanadian security(as defined in subsection 39(6)), or(II)an interest in a partnership the fair market value of which is derived, in whole or in part, from a Canadian security,
(I)a tax-indifferent investor, or(II)afinancial institution(as defined in subsection 142.2(1)), and
(I)interest,(II)dividends, or(III)income of a trust other than income paid out of the taxable capital gains of the trust,
(i)the difference between the sale price of the property and the fair market value of the property at the time the agreement is entered into by the taxpayer is attributable, in whole or in part, to an underlying interest (including a value, price, rate, variable, index, event, probability or thing) other than(A)revenue, income or cashflow in respect of the property over the term of the agreement, changes in the fair market value of the property over the term of the agreement, or any similar criteria in respect of the property,(B)if the sale price is denominated in the currency of a country other than Canada, changes in the value of the Canadian currency relative to that other currency, or(C)an underlying interest that relates to a sale of currency, if it can reasonably be considered that the sale is agreed to by the taxpayer in order to reduce its risk of fluctuations in the value of the currency in which a purchase or sale by the taxpayer of a capital property is denominated, in which an obligation that is a capital property of the taxpayer is denominated or from which a capital property of the taxpayer derives its value, and(ii)the agreement is part of an arrangement that has the effect — or would have the effect if the agreements that are part of the arrangement and that were entered into by persons or partnerships not dealing at arm’s length with the taxpayer were entered into by the taxpayer instead of non-arm’s length persons or partnerships — of eliminating a majority of the taxpayer’s risk of loss and opportunity for gain or profit in respect of the property for a period of more than 180 days; (contrat dérivé à terme)
(A)revenue, income or cashflow in respect of the property over the term of the agreement, changes in the fair market value of the property over the term of the agreement, or any similar criteria in respect of the property,(B)if the sale price is denominated in the currency of a country other than Canada, changes in the value of the Canadian currency relative to that other currency, or(C)an underlying interest that relates to a sale of currency, if it can reasonably be considered that the sale is agreed to by the taxpayer in order to reduce its risk of fluctuations in the value of the currency in which a purchase or sale by the taxpayer of a capital property is denominated, in which an obligation that is a capital property of the taxpayer is denominated or from which a capital property of the taxpayer derives its value, and
(a)any transaction or event entitling a taxpayer to proceeds of disposition of the property,(b)any transaction or event by which,(i)where the property is a share, bond, debenture, note, certificate, mortgage, hypothecary claim, agreement of sale or similar property, or interest, or for civil law a right, in it, the property is in whole or in part redeemed, acquired or cancelled,(ii)where the property is a debt or any other right to receive an amount, the debt or other right is settled or cancelled,(iii)where the property is a share, the share is converted because of an amalgamation or merger,(iv)where the property is an option to acquire or dispose of property, the option expires, and(v)a trust, that can reasonably be considered to act as agent for all the beneficiaries under the trust with respect to all dealings with all of the trust’s property (unless the trust is described in any of paragraphs (a) to (e.1) of the definitiontrustin subsection 108(1)), ceases to act as agent for a beneficiary under the trust with respect to any dealing with any of the trust’s property,(b.1)where the property is an interest in a life insurance policy, a disposition within the meaning of section 148,(c)any transfer of the property to a trust or, where the property is property of a trust, any transfer of the property to any beneficiary under the trust, except as provided by paragraph (f) or (k), and(d)where the property is, or is part of, a taxpayer’s capital interest in a trust, except as provided by paragraph (h) or (i), a payment made after 1999 to the taxpayer from the trust that can reasonably be considered to have been made because of the taxpayer’s capital interest in the trust,
(i)where the property is a share, bond, debenture, note, certificate, mortgage, hypothecary claim, agreement of sale or similar property, or interest, or for civil law a right, in it, the property is in whole or in part redeemed, acquired or cancelled,(ii)where the property is a debt or any other right to receive an amount, the debt or other right is settled or cancelled,(iii)where the property is a share, the share is converted because of an amalgamation or merger,(iv)where the property is an option to acquire or dispose of property, the option expires, and(v)a trust, that can reasonably be considered to act as agent for all the beneficiaries under the trust with respect to all dealings with all of the trust’s property (unless the trust is described in any of paragraphs (a) to (e.1) of the definitiontrustin subsection 108(1)), ceases to act as agent for a beneficiary under the trust with respect to any dealing with any of the trust’s property,
(e)any transfer of the property as a consequence of which there is no change in the beneficial ownership of the property, except where the transfer is(i)from a person or a partnership to a trust for the benefit of the person or the partnership,(ii)from a trust to a beneficiary under the trust, or(iii)from one trust maintained for the benefit of one or more beneficiaries under the trust to another trust maintained for the benefit of the same beneficiaries,(f)any transfer of the property as a consequence of which there is no change in the beneficial ownership of the property, where(i)the transferor and the transferee are trusts that are, at the time of the transfer, resident in Canada,(ii)[Repealed, 2013, c. 34, s. 358](iii)the transferee does not receive the property in satisfaction of the transferee’s right as a beneficiary under the transferor trust,(iv)the transferee held no property immediately before the transfer (other than property the cost of which is not included, for the purposes of this Act, in computing a balance of undeducted outlays, expenses or other amounts in respect of the transferee),(v)the transferee does not file a written election with the Minister on or before the filing-due date for its taxation year in which the transfer is made (or on such later date as is acceptable to the Minister) that this paragraph not apply,(vi)if the transferor is an amateur athlete trust, a cemetery care trust, an employee trust, a trust deemed by subsection 143(1) to exist in respect of a congregation that is a constituent part of a religious organization, a related segregated fund trust (in this paragraph having the meaning assigned by section 138.1), a trust described in paragraph 149(1)(o.4) or a trust governed by an eligible funeral arrangement, an employees profit sharing plan, a registered disability savings plan, a registered education savings plan, a registered supplementary unemployment benefit plan or a TFSA, the transferee is the same type of trust, and(vii)the transfer results, or is part of a series of transactions or events that results, in the transferor ceasing to exist and, immediately before the time of the transfer or the beginning of that series, as the case may be, the transferee never held any property or held only property having a nominal value,(g)[Repealed, 2005, c. 30, s. 17](h)where the property is part of a capital interest of a taxpayer in a trust (other than a personal trust or a trust prescribed for the purpose of subsection 107(2)) that is described by reference to units issued by the trust, a payment after 1999 from the trust in respect of the capital interest, where the number of units in the trust that are owned by the taxpayer is not reduced because of the payment,(i)where the property is a taxpayer’s capital interest in a trust, a payment to the taxpayer after 1999 in respect of the capital interest to the extent that the payment(i)is out of the income of the trust (determined without reference to subsection 104(6)) for a taxation year or out of the capital gains of the trust for the year, if the payment was made in the year or the right to the payment was acquired by the taxpayer in the year, or(ii)is in respect of an amount designated in respect of the taxpayer by the trust under subsection 104(20),(j)any transfer of the property for the purpose only of securing a debt or a loan, or any transfer by a creditor for the purpose only of returning property that had been used as security for a debt or a loan,(k)any transfer of the property to a trust as a consequence of which there is no change in the beneficial ownership of the property, where the main purpose of the transfer is(i)to effect payment under a debt or loan,(ii)to provide assurance that an absolute or contingent obligation of the transferor will be satisfied, or(iii)to facilitate either the provision of compensation or the enforcement of a penalty, in the event that an absolute or contingent obligation of the transferor is not satisfied,(l)any issue of a bond, debenture, note, certificate, mortgage or hypothecary claim,(m)any issue by a corporation of a share of its capital stock, or any other transaction that, but for this paragraph, would be a disposition by a corporation of a share of its capital stock, and(n)a redemption, an acquisition or a cancellation of a share or of a right to acquire a share (which share or which right, as the case may be, is referred to in this paragraph as the “security”) of the capital stock of a corporation (referred to in this paragraph as the “issuing corporation”) held by another corporation (referred to in this paragraph as the “disposing corporation”) if(i)the redemption, acquisition or cancellation occurs as part of a merger or combination of two or more corporations (including the issuing corporation and the disposing corporation) to form one corporate entity (referred to in this paragraph as the “new corporation”),(ii)the merger or combination(A)is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) does not apply,(B)is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) applies, if the issuing corporation and the disposing corporation are described by subsection 87(11) as the parent and the subsidiary, respectively,(C)is a foreign merger (within the meaning assigned by subsection 87(8.1)), or(D)would be a foreign merger (within the meaning assigned by subsection 87(8.1)) if subparagraph 87(8.1)(c)(ii) were read without reference to the words “that was resident in a country other than Canada”, and(iii)either(A)the disposing corporation receives no consideration for the security, or(B)in the case where the merger or combination is described by clause (ii)(C) or (D), the disposing corporation receives no consideration for the security other than property that was, immediately before the merger or combination, owned by the issuing corporation and that, on the merger or combination, becomes property of the new corporation; (disposition)
(i)from a person or a partnership to a trust for the benefit of the person or the partnership,(ii)from a trust to a beneficiary under the trust, or(iii)from one trust maintained for the benefit of one or more beneficiaries under the trust to another trust maintained for the benefit of the same beneficiaries,
(i)the transferor and the transferee are trusts that are, at the time of the transfer, resident in Canada,(ii)[Repealed, 2013, c. 34, s. 358](iii)the transferee does not receive the property in satisfaction of the transferee’s right as a beneficiary under the transferor trust,(iv)the transferee held no property immediately before the transfer (other than property the cost of which is not included, for the purposes of this Act, in computing a balance of undeducted outlays, expenses or other amounts in respect of the transferee),(v)the transferee does not file a written election with the Minister on or before the filing-due date for its taxation year in which the transfer is made (or on such later date as is acceptable to the Minister) that this paragraph not apply,(vi)if the transferor is an amateur athlete trust, a cemetery care trust, an employee trust, a trust deemed by subsection 143(1) to exist in respect of a congregation that is a constituent part of a religious organization, a related segregated fund trust (in this paragraph having the meaning assigned by section 138.1), a trust described in paragraph 149(1)(o.4) or a trust governed by an eligible funeral arrangement, an employees profit sharing plan, a registered disability savings plan, a registered education savings plan, a registered supplementary unemployment benefit plan or a TFSA, the transferee is the same type of trust, and(vii)the transfer results, or is part of a series of transactions or events that results, in the transferor ceasing to exist and, immediately before the time of the transfer or the beginning of that series, as the case may be, the transferee never held any property or held only property having a nominal value,
(i)is out of the income of the trust (determined without reference to subsection 104(6)) for a taxation year or out of the capital gains of the trust for the year, if the payment was made in the year or the right to the payment was acquired by the taxpayer in the year, or(ii)is in respect of an amount designated in respect of the taxpayer by the trust under subsection 104(20),
(i)to effect payment under a debt or loan,(ii)to provide assurance that an absolute or contingent obligation of the transferor will be satisfied, or(iii)to facilitate either the provision of compensation or the enforcement of a penalty, in the event that an absolute or contingent obligation of the transferor is not satisfied,
(i)the redemption, acquisition or cancellation occurs as part of a merger or combination of two or more corporations (including the issuing corporation and the disposing corporation) to form one corporate entity (referred to in this paragraph as the “new corporation”),(ii)the merger or combination(A)is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) does not apply,(B)is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) applies, if the issuing corporation and the disposing corporation are described by subsection 87(11) as the parent and the subsidiary, respectively,(C)is a foreign merger (within the meaning assigned by subsection 87(8.1)), or(D)would be a foreign merger (within the meaning assigned by subsection 87(8.1)) if subparagraph 87(8.1)(c)(ii) were read without reference to the words “that was resident in a country other than Canada”, and(iii)either(A)the disposing corporation receives no consideration for the security, or(B)in the case where the merger or combination is described by clause (ii)(C) or (D), the disposing corporation receives no consideration for the security other than property that was, immediately before the merger or combination, owned by the issuing corporation and that, on the merger or combination, becomes property of the new corporation; (disposition)
(A)is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) does not apply,(B)is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) applies, if the issuing corporation and the disposing corporation are described by subsection 87(11) as the parent and the subsidiary, respectively,(C)is a foreign merger (within the meaning assigned by subsection 87(8.1)), or(D)would be a foreign merger (within the meaning assigned by subsection 87(8.1)) if subparagraph 87(8.1)(c)(ii) were read without reference to the words “that was resident in a country other than Canada”, and
(A)the disposing corporation receives no consideration for the security, or(B)in the case where the merger or combination is described by clause (ii)(C) or (D), the disposing corporation receives no consideration for the security other than property that was, immediately before the merger or combination, owned by the issuing corporation and that, on the merger or combination, becomes property of the new corporation; (disposition)
(a)any arrangement entered into by the person where it can reasonably be considered that(i)the main reason for the person entering into the arrangement was to enable the person to receive a dividend on a share of the capital stock of a corporation, other than a dividend on a prescribed share or on a share described in paragraph (e) of the definitionterm preferred sharein this subsection or an amount deemed by subsection 15(3) to be received as a dividend on a share of the capital stock of a corporation, and(ii)under the arrangement someone other than that person bears the risk of loss or enjoys the opportunity for gain or profit with respect to the share in any material respect,(b)for greater certainty, any arrangement under which(i)a corporation at any time receives on a particular share a taxable dividend that would, if this Act were read without reference to subsection 112(2.3), be deductible in computing its taxable income or taxable income earned in Canada for the taxation year that includes that time, and(ii)the corporation or a partnership of which the corporation is a member is obligated to pay to another person or partnership an amount(A)that is compensation for(I)the dividend described in subparagraph (i),(II)a dividend on a share that is identical to the particular share, or(III)a dividend on a share that, during the term of the arrangement, can reasonably be expected to provide to a holder of the share the same or substantially the same proportionate risk of loss or opportunity for gain as the particular share, and(B)that, if paid, would be deemed by subsection 260(5.1) to have been received by that other person or partnership, as the case may be, as a taxable dividend,(c)any synthetic equity arrangement, in respect of a DRA share of the person, and(d)one or more agreements or arrangements (other than agreements or arrangements described in paragraph (c)) entered into by the person, the connected person referred to in paragraph (a) of the definitionsynthetic equity arrangementor, for greater certainty, by any combination of the person and connected persons, if(i)the agreements or arrangements have the effect, or would have the effect if each agreement or arrangement entered into by a connected person were entered into by the person, of eliminating all or substantially all of the person’s risk of loss and opportunity for gain or profit in respect of a DRA share of the person,(ii)as part of a series of transactions that includes these agreements or arrangements, a tax-indifferent investor, or a group of tax-indifferent investors each member of which is affiliated with every other member, obtains all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share or anidentical share(as defined in subsection 112(10)), and(iii)it is reasonable to conclude that one of the purposes of the series of transactions is to obtain the result described in subparagraph (ii); (mécanisme de transfert de dividendes)
(i)the main reason for the person entering into the arrangement was to enable the person to receive a dividend on a share of the capital stock of a corporation, other than a dividend on a prescribed share or on a share described in paragraph (e) of the definitionterm preferred sharein this subsection or an amount deemed by subsection 15(3) to be received as a dividend on a share of the capital stock of a corporation, and(ii)under the arrangement someone other than that person bears the risk of loss or enjoys the opportunity for gain or profit with respect to the share in any material respect,
(i)a corporation at any time receives on a particular share a taxable dividend that would, if this Act were read without reference to subsection 112(2.3), be deductible in computing its taxable income or taxable income earned in Canada for the taxation year that includes that time, and(ii)the corporation or a partnership of which the corporation is a member is obligated to pay to another person or partnership an amount(A)that is compensation for(I)the dividend described in subparagraph (i),(II)a dividend on a share that is identical to the particular share, or(III)a dividend on a share that, during the term of the arrangement, can reasonably be expected to provide to a holder of the share the same or substantially the same proportionate risk of loss or opportunity for gain as the particular share, and(B)that, if paid, would be deemed by subsection 260(5.1) to have been received by that other person or partnership, as the case may be, as a taxable dividend,
(A)that is compensation for(I)the dividend described in subparagraph (i),(II)a dividend on a share that is identical to the particular share, or(III)a dividend on a share that, during the term of the arrangement, can reasonably be expected to provide to a holder of the share the same or substantially the same proportionate risk of loss or opportunity for gain as the particular share, and(B)that, if paid, would be deemed by subsection 260(5.1) to have been received by that other person or partnership, as the case may be, as a taxable dividend,
(I)the dividend described in subparagraph (i),(II)a dividend on a share that is identical to the particular share, or(III)a dividend on a share that, during the term of the arrangement, can reasonably be expected to provide to a holder of the share the same or substantially the same proportionate risk of loss or opportunity for gain as the particular share, and
(i)the agreements or arrangements have the effect, or would have the effect if each agreement or arrangement entered into by a connected person were entered into by the person, of eliminating all or substantially all of the person’s risk of loss and opportunity for gain or profit in respect of a DRA share of the person,(ii)as part of a series of transactions that includes these agreements or arrangements, a tax-indifferent investor, or a group of tax-indifferent investors each member of which is affiliated with every other member, obtains all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share or anidentical share(as defined in subsection 112(10)), and(iii)it is reasonable to conclude that one of the purposes of the series of transactions is to obtain the result described in subparagraph (ii); (mécanisme de transfert de dividendes)
(a)that is owned by the person or partnership,(b)in respect of which the person or partnership is deemed to have received a dividend under subsection 260(5.1) and is provided with all or substantially all of the risk of loss and opportunity for gain or profit under an agreement or arrangement,(c)that is held by a trust under which the person or partnership is a beneficiary and in respect of which the person or partnership is deemed to have received a dividend as a result of a designation by the trust under subsection 104(19),(d)in respect of which the person or partnership is deemed to have received a dividend under subsection 82(2), or(e)in any other case, in respect of which the person or partnership is (or would be in the absence of subsection 112(2.3)) entitled to a deduction under subsection 112(1) in respect of dividends received on the share; (action de mécanisme de transfert de dividendesouAMTD)
(a)the relocation occurs to enable the taxpayer(i)to carry on a business or to be employed at a location (in section 62 and this definition referred to as “the new work location”) that is, except if the taxpayer is absent from but resident in Canada, in Canada, or(ii)to be a student in full-time attendance enrolled in a program at a post-secondary level at a location of a university, college or other educational institution (in section 62 and this definition referred to as “the new work location”),(b)the taxpayer ordinarily resided before the relocation at a residence (in section 62 and this definition referred to as “the old residence”) and ordinarily resided after the relocation at a residence (in section 62 and this definition referred to as “the new residence”),(c)except if the taxpayer is absent from but resident in Canada, both the old residence and the new residence are in Canada, and(d)the distance between the old residence and the new work location is not less than 40 kilometres greater than the distance between the new residence and the new work location; (réinstallation admissible)
(i)to carry on a business or to be employed at a location (in section 62 and this definition referred to as “the new work location”) that is, except if the taxpayer is absent from but resident in Canada, in Canada, or(ii)to be a student in full-time attendance enrolled in a program at a post-secondary level at a location of a university, college or other educational institution (in section 62 and this definition referred to as “the new work location”),
(a)a fund, plan or trust referred to in subparagraph 6(1)(a)(i) or paragraph 6(1)(d) or (f),(b)a trust described in paragraph 149(1)(y),(c)an employee trust,(c.1)a salary deferral arrangement, in respect of a taxpayer, under which deferred amounts are required to be included as benefits under paragraph 6(1)(a) in computing the taxpayer’s income,(c.2)a retirement compensation arrangement,(d)an arrangement the sole purpose of which is to provide education or training for employees of the employer to improve their work or work-related skills and abilities, or(e)a prescribed arrangement; (régime de prestations aux employés)
(a)under which payments are made by one or more employers to a trustee in trust solely to provide to employees or former employees of(i)the employer, or(ii)a person with whom the employer does not deal at arm’s length,benefits the right to which vests at the time of each such payment and the amount of which does not depend on the individual’s position, performance or compensation as an employee,(b)under which the trustee has, since the commencement of the arrangement, each year allocated to individuals who are beneficiaries thereunder, in such manner as is reasonable, the amount, if any, by which the total of all amounts each of which is(i)an amount received under the arrangement by the trustee in the year from an employer or from a person with whom the employer does not deal at arm’s length,(ii)the amount that would, if this Act were read without reference to subsection 104(6), be the income of the trust for the year (other than a taxable capital gain from the disposition of property) from a property or other source other than a business, or(iii)a capital gain of the trust for the year from the disposition of propertyexceeds the total of all amounts each of which is(iv)the loss of the trust for the year (other than an allowable capital loss from the disposition of property) from a property or other source other than a business, or(v)a capital loss of the trust for the year from the disposition of property, and(c)the trustee of which has elected to qualify the arrangement as an employee trust in its return of income filed within 90 days from the end of its first taxation year; (fiducie d’employés)
(i)the employer, or(ii)a person with whom the employer does not deal at arm’s length,
(i)an amount received under the arrangement by the trustee in the year from an employer or from a person with whom the employer does not deal at arm’s length,(ii)the amount that would, if this Act were read without reference to subsection 104(6), be the income of the trust for the year (other than a taxable capital gain from the disposition of property) from a property or other source other than a business, or(iii)a capital gain of the trust for the year from the disposition of property
(iv)the loss of the trust for the year (other than an allowable capital loss from the disposition of property) from a property or other source other than a business, or(v)a capital loss of the trust for the year from the disposition of property, and
(a)a right, licence or privilege to explore for, drill for or take petroleum, natural gas or related hydrocarbons in that country,(b)a right, licence or privilege to(i)store underground petroleum, natural gas or related hydrocarbons in that country, or(ii)prospect, explore, drill or mine for minerals in a mineral resource in that country,(c)an oil or gas well in that country or real or immovable property in that country the principal value of which depends on its petroleum or natural gas content (but not including depreciable property),(d)any right to a rental or royalty computed by reference to the amount or value of production from an oil or gas well in that country, or from a natural accumulation of petroleum or natural gas in that country, if the payer of the rental or royalty has an interest in, or for civil law a right in, the well or accumulation, as the case may be, and 90% or more of the rental or royalty is payable out of, or from the proceeds of, the production from the well or accumulation,(e)any right to a rental or royalty computed by reference to the amount or value of production from a mineral resource in that country, if the payer of the rental or royalty has an interest in, or for civil law a right in, the mineral resource and 90% or more of the rental or royalty is payable out of, or from the proceeds of, the production from the mineral resource,(f)a real or immovable property in that country the principal value of which depends upon its mineral resource content (but not including depreciable property),(g)a right to or an interest in — or for civil law a right to or in — any property described in any of paragraphs (a) to (e), other than a right or an interest that the taxpayer has because the taxpayer is a beneficiary under a trust or a member of a partnership, or(h)an interest in real property described in paragraph (f) or a real right in an immovable described in that paragraph, other than an interest or a right that the taxpayer has because the taxpayer is a beneficiary under a trust or a member of a partnership; (avoir minier étranger)
(i)store underground petroleum, natural gas or related hydrocarbons in that country, or(ii)prospect, explore, drill or mine for minerals in a mineral resource in that country,
(a)a rental property of the taxpayer,(b)land subjacent to a rental property of the taxpayer,(c)land contiguous to land referred to in paragraph (b) that is a parking area, driveway, yard or garden or that is otherwise necessary for the use of the rental property referred to in that paragraph, or(d)a leasehold interest in any property described in paragraphs (a) to (c),
(a)has provided the lender under the arrangement with money in an amount of, or securities described in paragraph (c) of the definitionqualified securityin subsection 260(1) that have a fair market value of, not less than 95% of the fair market value of the security that is transferred or lent under the arrangement, and(b)is entitled to enjoy, directly or indirectly, the benefits of all or substantially all income derived from, and opportunity for gain in respect of, the money or securities provided; (mécanisme entièrement garanti)
(a)that time is no more than 36 months after the death,(b)the estate is at that time a testamentary trust,(c)the individual’s Social Insurance Number (or if the individual had not, before the death, been assigned a Social Insurance Number, such other information as is acceptable to the Minister) is provided in the estate’s return of income under Part I for the taxation year that includes that time and for each of its earlier taxation years that ended after 2015,(d)the estate designates itself as the graduated rate estate of the individual in its return of income under Part I for its first taxation year that ends after 2015, and(e)no other estate designates itself as the graduated rate estate of the individual in a return of income under Part I for a taxation year that ends after 2015; (succession assujettie à l’imposition à taux progressifs)
(a)a share of the capital stock of a corporation issued after 8:00 p.m