II, s. 165
204.94(1)The definitions in subsection 146.1(1) apply for the purposes of this Part, except that the definitionsubscriberin that subsection shall be read without reference to paragraph (c).Marginal note:Charging provision(2)Every person (other than a public primary caregiver that is exempt from tax under Part I) shall pay a tax under this Part for each taxation year equal to the amount determined by the formula(A + B - C) × DwhereAis the total of all amounts each of which is an accumulated income payment made at any time that is(a)either(i)under a registered education savings plan under which the person is a subscriber at that time, or(ii)under a registered education savings plan under which there is no subscriber at that time, where the person has been a spouse or common-law partner of an individual who was a subscriber under the plan, and(b)included in computing the person’s income under Part I for the year;Bis the total of all amounts each of which is an accumulated income payment that is(a)not included in the value of A in respect of the person for the year, and(b)included in computing the person’s income under Part I for the year;Cis the lesser of(a)the lesser of the value of A in respect of the person for the year and the total of all amounts each of which is an amount deducted under subsection 146(5) or 146(5.1) in computing the person’s income under Part I for the year, and(b)the amount, if any, by which $50,000 exceeds the total of all amounts each of which is an amount determined under paragraph (a) in respect of the person for a preceding taxation year; andDis(a)where a tax, similar to the tax provided under this Part, is payable by the person for the year under a law of the province of Quebec, 12%, and(b)in any other case, 20%.Marginal note:Return and payment of tax(3)Every person who is liable to pay tax under this Part for a taxation year shall, on or before the person’s filing-due date for the year,(a)file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand therefor;(b)estimate in the return the amount of tax payable under this Part by the person for the year; and(c)pay to the Receiver General the amount of tax payable under this Part by the person for the year.Marginal note:Administrative rules(4)Subsections 150(2) and 150(3), sections 152, 155 to 156.1 and 158 to 167 and Division J of Part I apply with any modifications that the circumstances require.
(a)either(i)under a registered education savings plan under which the person is a subscriber at that time, or(ii)under a registered education savings plan under which there is no subscriber at that time, where the person has been a spouse or common-law partner of an individual who was a subscriber under the plan, and(b)included in computing the person’s income under Part I for the year;
(i)under a registered education savings plan under which the person is a subscriber at that time, or(ii)under a registered education savings plan under which there is no subscriber at that time, where the person has been a spouse or common-law partner of an individual who was a subscriber under the plan, and
(a)not included in the value of A in respect of the person for the year, and(b)included in computing the person’s income under Part I for the year;
(a)the lesser of the value of A in respect of the person for the year and the total of all amounts each of which is an amount deducted under subsection 146(5) or 146(5.1) in computing the person’s income under Part I for the year, and(b)the amount, if any, by which $50,000 exceeds the total of all amounts each of which is an amount determined under paragraph (a) in respect of the person for a preceding taxation year; and
(a)where a tax, similar to the tax provided under this Part, is payable by the person for the year under a law of the province of Quebec, 12%, and(b)in any other case, 20%.
(a)file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand therefor;(b)estimate in the return the amount of tax payable under this Part by the person for the year; and(c)pay to the Receiver General the amount of tax payable under this Part by the person for the year.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]1998, c. 19, s. 591999, c. 22, s. 722000, c. 12, s. 1422013, c. 34, s. 338
205(1)The following definitions apply in this section.ALDA dollar limitALDA dollar limit, for a calendar year, means(a)for 2020, $150,000; and(b)for each year after 2020, the amount (rounded to the nearest multiple of $10,000, or if that amount is equidistant from two such consecutive multiples, to the higher multiple) that is equal to $150,000 adjusted for each year after 2020 in the manner set out in section 117.1. (plafond de la RVDAA)cumulative excess amountcumulative excess amount, of an individual at any particular time in a calendar year, means the amount determined by the formulaA − BwhereAis the greater of(a)the total of all amounts each of which is an excess ALDA transfer of the individual at or before the particular time, and(b)the amount determined by the formulaC − DwhereCis the total of all amounts each of which is the amount of a transfer at or before the particular time to acquire an advanced life deferred annuity on behalf of the individual, andDis the ALDA dollar limit for the calendar year; andBis the total of all amounts each of which is the amount of a refund described in paragraph (g) of the definitionadvanced life deferred annuityin subsection 146.5(1) made at or before the particular time on behalf of the individual. (excédent cumulatif)excess ALDA transferexcess ALDA transfer, of an individual, means the portion of the amount of a transfer, made from a transferor plan under any of subsections 146(16) and 146.3(14.1) and paragraphs 147(19)(d), 147.3(1)(c) and 147.5(21)(c) to acquire an advanced life deferred annuity on behalf of the individual, determined by the formulaA − BwhereAis the amount of the transfer; andBis the amount determined by the formula0.25(C + D) − EwhereCis the total value of the property held for the benefit of the individual under the transferor plan at the end of the calendar year preceding the calendar year in which the transfer is made, other than(a)if the transferor plan is a registered pension plan, property held in connection with(i)adefined benefit provision(as defined in subsection 147.1(1)) of the transferor plan, or(ii)a VPLA fund, as described in subsection 8506(13) of theIncome Tax Regulations,(b)if the transferor plan is a pooled registered pension plan, property held in connection with benefits that would be described in paragraph 147.5(5)(a) if the reference in that paragraph to “8506(1)(e.1) or (e.2)” were read as a reference to “8506(1)(e.2)”,(c)if the transferor plan is a registered retirement income fund, contracts for annuities held in connection with the fund other than annuities described in paragraph (b.1) of the definitionqualified investmentin subsection 146.3(1), and(d)if the transferor plan is a registered retirement savings plan, contracts for annuities held in connection with the plan other than annuities described in paragraph (c.1) of the definitionqualified investmentin subsection 146(1),Dis the total of all amounts each of which is the amount transferred from the transferor plan, in a calendar year preceding the calendar year in which the transfer is made, to acquire an advanced life deferred annuity on behalf of the individual, andEis the total of all amounts each of which is the amount of a previous transfer from the transferor plan to acquire an advanced life deferred annuity on behalf of the individual. (excédent de transfert au titre de la RVDAA)Marginal note:Tax payable by individuals(2)If at the end of any month an individual has a cumulative excess amount, the individual shall, in respect of that month, pay a tax under this Part equal to 1% of that cumulative excess amount.Marginal note:Waiver of tax(3)If an individual would, but for this subsection, be required to pay a tax under subsection (2) in respect of a month, the Minister may waive or cancel all or part of the tax if the individual establishes to the satisfaction of the Minister that(a)the cumulative excess amount on which the tax is based arose as a consequence of reasonable error; and(b)reasonable steps are being taken to eliminate the cumulative excess amount.
(a)for 2020, $150,000; and(b)for each year after 2020, the amount (rounded to the nearest multiple of $10,000, or if that amount is equidistant from two such consecutive multiples, to the higher multiple) that is equal to $150,000 adjusted for each year after 2020 in the manner set out in section 117.1. (plafond de la RVDAA)
(a)the total of all amounts each of which is an excess ALDA transfer of the individual at or before the particular time, and(b)the amount determined by the formulaC − DwhereCis the total of all amounts each of which is the amount of a transfer at or before the particular time to acquire an advanced life deferred annuity on behalf of the individual, andDis the ALDA dollar limit for the calendar year; and
(a)if the transferor plan is a registered pension plan, property held in connection with(i)adefined benefit provision(as defined in subsection 147.1(1)) of the transferor plan, or(ii)a VPLA fund, as described in subsection 8506(13) of theIncome Tax Regulations,(b)if the transferor plan is a pooled registered pension plan, property held in connection with benefits that would be described in paragraph 147.5(5)(a) if the reference in that paragraph to “8506(1)(e.1) or (e.2)” were read as a reference to “8506(1)(e.2)”,(c)if the transferor plan is a registered retirement income fund, contracts for annuities held in connection with the fund other than annuities described in paragraph (b.1) of the definitionqualified investmentin subsection 146.3(1), and(d)if the transferor plan is a registered retirement savings plan, contracts for annuities held in connection with the plan other than annuities described in paragraph (c.1) of the definitionqualified investmentin subsection 146(1),
(i)adefined benefit provision(as defined in subsection 147.1(1)) of the transferor plan, or(ii)a VPLA fund, as described in subsection 8506(13) of theIncome Tax Regulations,
(a)the cumulative excess amount on which the tax is based arose as a consequence of reasonable error; and(b)reasonable steps are being taken to eliminate the cumulative excess amount.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]R.S., 1985, c. 1 (5th Supp.), s. 2052005, c. 30, s. 142007, c. 35, s. 1202010, c. 12, s. 202017, c. 33, s. 662021, c. 23, s. 49
206(1)Every person who is liable to pay tax under this Part for all or part of a calendar year shall,(a)on or before the person’s filing-due date for the year, file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand; and(b)on or before the person’s balance-due day for the year, pay to the Receiver General the amount of tax payable under this Part by the person for the year.Marginal note:Provisions applicable to Part(2)Subsections 150(2) and (3), sections 152 and 158 to 167 and Division J of Part I apply with any modifications that the circumstances require.
(a)on or before the person’s filing-due date for the year, file with the Minister a return for the year under this Part in prescribed form and containing prescribed information, without notice or demand; and(b)on or before the person’s balance-due day for the year, pay to the Receiver General the amount of tax payable under this Part by the person for the year.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]R.S., 1985, c. 1 (5th Supp.), s. 2061994, c. 7, Sch