VIII, s. 521995, c. 3, s. 331997, c. 25, s. 251998, c. 19, s. 1341999, c. 22, s. 312000, c. 12, ss. 131, 142, c. 19, s. 242001, c. 17, ss. 93, 243(E)2005, c. 30, s. 52006, c. 4, s. 602007, c. 2, s. 20, c. 29, s. 9, c. 35, ss. 36, 1802009, c. 2, s. 342011, c. 24, s. 232012, c. 31, s. 252013, c. 34, s. 2462015, c. 36, s. 302017, c. 20, s. 12, c. 33, s. 422018, c. 12, s. 112021, c. 23, s. 19
118.01(1)The following definitions apply in this section.adoption periodadoption period, in respect of an eligible child of an individual, means the period that(a)begins at the earlier of the time that an application is made for registration with a provincial ministry responsible for adoption (or with an adoption agency licensed by a provincial government) and the time, if any, that an application related to the adoption is made to a Canadian court; and(b)ends at the later of the time an adoption order is issued by, or recognized by, a government in Canada in respect of that child, and the time that the child first begins to reside permanently with the individual. (période d’adoption)eligible adoption expenseeligible adoption expense, in respect of an eligible child of an individual, means an amount paid for expenses incurred during the adoption period in respect of the adoption of that child, including(a)fees paid to an adoption agency licensed by a provincial government;(b)court costs and legal and administrative expenses related to an adoption order in respect of that child;(c)reasonable and necessary travel and living expenses of that child and the adoptive parents;(d)document translation fees;(e)mandatory fees paid to a foreign institution;(f)mandatory expenses paid in respect of the immigration of that child; and(g)any other reasonable expenses related to the adoption required by a provincial government or an adoption agency licensed by a provincial government. (dépense d’adoption admissible)eligible childeligible child, of an individual, means a child who has not attained the age of 18 years at the time that an adoption order is issued or recognized by a government in Canada in respect of the adoption of that child by that individual. (enfant admissible)Marginal note:Adoption expense tax credit(2)For the purpose of computing the tax payable under this Part by an individual for the taxation year that includes the end of the adoption period in respect of an eligible child of the individual, there may be deducted the amount determined by the formulaA × BwhereAis the appropriate percentage for the taxation year; andBis the lesser of(a)$15,000, and(b)the amount determined by the formulaC - DwhereCis the total of all eligible adoption expenses in respect of the eligible child, andDis the total of all amounts each of which is the amount of a reimbursement or any other form of assistance (other than an amount that is included in computing the individual’s income and that is not deductible in computing the individual’s taxable income) that any individual is or was entitled to receive in respect of an amount included in computing the value of C.Marginal note:Apportionment of credit(3)Where more than one individual is entitled to a deduction under this section for a taxation year in respect of the adoption of an eligible child, the total of all amounts so deductible shall not exceed the maximum amount that would be so deductible for the year by any one of those individuals for that child if that individual were the only individual entitled to deduct an amount for the year under this section, and if the individuals cannot agree as to what portion of the amount each can so deduct, the Minister may fix the portions.
(a)begins at the earlier of the time that an application is made for registration with a provincial ministry responsible for adoption (or with an adoption agency licensed by a provincial government) and the time, if any, that an application related to the adoption is made to a Canadian court; and(b)ends at the later of the time an adoption order is issued by, or recognized by, a government in Canada in respect of that child, and the time that the child first begins to reside permanently with the individual. (période d’adoption)
(a)fees paid to an adoption agency licensed by a provincial government;(b)court costs and legal and administrative expenses related to an adoption order in respect of that child;(c)reasonable and necessary travel and living expenses of that child and the adoptive parents;(d)document translation fees;(e)mandatory fees paid to a foreign institution;(f)mandatory expenses paid in respect of the immigration of that child; and(g)any other reasonable expenses related to the adoption required by a provincial government or an adoption agency licensed by a provincial government. (dépense d’adoption admissible)
(a)$15,000, and(b)the amount determined by the formulaC - DwhereCis the total of all eligible adoption expenses in respect of the eligible child, andDis the total of all amounts each of which is the amount of a reimbursement or any other form of assistance (other than an amount that is included in computing the individual’s income and that is not deductible in computing the individual’s taxable income) that any individual is or was entitled to receive in respect of an amount included in computing the value of C.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2006, c. 4, s. 612013, c. 33, s. 92014, c. 20, s. 6
118.02(1)The following definitions apply in this section.digital news subscriptiondigital news subscription, of an individual with a qualified Canadian journalism organization, means an agreement entered into between the individual and the qualified Canadian journalism organization, if(a)the agreement entitles an individual to access content of the qualified Canadian journalism organization in digital form and that content is primarily written news; and(b)the qualified Canadian journalism organization does not hold alicenceas defined in subsection 2(1) of theBroadcasting Act. (abonnement aux nouvelles numériques)qualifying subscription expensequalifying subscription expense, for a taxation year, means the amount paid in the year for a digital news subscription of an individual with a qualified Canadian journalism organization and, for this purpose, if the digital news subscription provides access to content in non-digital form or content other than content of qualified Canadian journalism organizations, the amount considered to be paid for the digital news subscription shall not exceed(a)the cost of a comparable digital news subscription with the qualified Canadian journalism organization that solely provides access to content of qualified Canadian journalism organizations in digital form; and(b)if there is no such comparable digital news subscription, 1/2 of the amount actually paid. (dépense pour abonnement admissible)Marginal note:Digital news subscription tax credit(2)For the purpose of computing the tax payable under this Part by an individual for a taxation year that is before 2025, there may be deducted the amount determined by the formulaA × BwhereAis the appropriate percentage for the year; andBis the lesser of(a)$500, and(b)the total of all amounts each of which is a qualifying subscription expense of the individual for the year.Marginal note:Apportionment of credit(3)If more than one individual is entitled to a deduction under this section for a taxation year in respect of a qualifying subscription expense, the total of all amounts so deductible shall not exceed the maximum amount that would be so deductible for the year by any one of those individuals in respect of the qualifying subscription expense, if that individual were the only individual entitled to deduct an amount for the year under this section, and if the individuals cannot agree as to what portion of the amount each can so deduct, the Minister may fix the portions.Marginal note:Ceasing to qualify(4)For the purposes of subsection (1), if amounts paid under an agreement cease to be qualifying subscription expenses at any particular time in a calendar year and, at the particular time, the Minister has communicated or otherwise made available pursuant to paragraph 241(3.4)(b) that these amounts qualify as qualifying subscription expenses, amounts paid under that agreement are deemed to be qualifying subscription expenses — to the same extent that the amounts paid were considered to be qualifying subscription expenses immediately before the particular time — until the end of the calendar year in which the Minister communicates or otherwise makes available pursuant to paragraph 241(3.4)(b) that amounts paid under the agreement no longer qualify as qualifying subscription expenses.Marginal note:Notice to individuals(5)If an organization enters into a digital news subscription agreement with an individual and amounts paid under the agreement cease to be qualifying subscription expenses, the organization shall inform the individual that amounts paid under the agreement are no longer qualifying subscription expenses.
(a)the agreement entitles an individual to access content of the qualified Canadian journalism organization in digital form and that content is primarily written news; and(b)the qualified Canadian journalism organization does not hold alicenceas defined in subsection 2(1) of theBroadcasting Act. (abonnement aux nouvelles numériques)
(a)the cost of a comparable digital news subscription with the qualified Canadian journalism organization that solely provides access to content of qualified Canadian journalism organizations in digital form; and(b)if there is no such comparable digital news subscription, 1/2 of the amount actually paid. (dépense pour abonnement admissible)
(a)$500, and(b)the total of all amounts each of which is a qualifying subscription expense of the individual for the year.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2007, c. 2, s. 21, c. 35, s. 372013, c. 34, s. 2472017, c. 20, s. 132019, c. 29, s. 152021, c. 23, s. 20
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2007, c. 2, s. 21, c. 35, s. 382014, c. 39, s. 32]
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2011, c. 24, s. 242014, c. 39, s. 332016, c. 7, s. 15
118.04(1)The following definitions apply in this section.eligible dwellingeligible dwellingof an individual, at any time, means a housing unit (including the land subjacent to the housing unit and the immediately contiguous land, but not including the portion of such land that exceeds the greater of 1/2 hectare and the portion of such land that the individual establishes is necessary for the use and enjoyment of the housing unit as a residence) located in Canada if(a)the individual (or a trust under which the individual is a beneficiary) owns, whether jointly with another person or otherwise, at that time, the housing unit or a share of the capital stock of a co-operative housing corporation acquired for the sole purpose of acquiring the right to inhabit the housing unit owned by the corporation; and(b)the housing unit is ordinarily inhabited at any time during the eligible period by the individual, by the individual’s spouse or common-law partner or former spouse or common-law partner or by a child of the individual. (logement admissible)eligible periodeligible periodmeans the period that begins on January 28, 2009 and that ends on January 31, 2010. (période d’admissibilité)individualindividualdoes not include a trust. (particulier)qualifying expenditurequalifying expenditureof an individual means an outlay or expense that is made or incurred, by the individual or by a qualifying relation in respect of the individual during the eligible period, that is directly attributable to a qualifying renovation by the individual and that is the cost of goods acquired or services received during the eligible period and includes such an outlay or expense for permits required for, or for the rental of equipment used in the course of, the qualifying renovation, but does not include such an outlay or expense(a)to acquire goods that have been used, or acquired for use or lease, by the individual or by a qualifying relation in respect of the individual, for any purpose whatever before they were acquired by the individual or the qualifying relation in respect of the individual;(b)made or incurred under the terms of an agreement entered into before the eligible period;(c)to acquire a property that can be used independently of the qualifying renovation;(d)that is the cost of annual, recurring or routine repair or maintenance;(e)to acquire a household appliance;(f)to acquire an electronic home-entertainment device;(g)for financing costs in respect of the qualifying renovation;(h)made or incurred for the purpose of gaining or producing income from a business or property; or(i)in respect of goods or services provided by a person not dealing at arm’s length with the individual, unless the person is registered for the purposes of Part IX of theExcise Tax Act. (dépense admissible)qualifying relationqualifying relationin respect of an individual means a person who is the individual’s spouse or common-law partner, or a child of the individual who has not attained the age of 18 years before the end of 2009 (other than a child who was, at any time during the eligible period, a married person, a person who is in a common-law partnership or a person who has a child). (proche admissible)qualifying renovationqualifying renovationby an individual, at any time, means a renovation or alteration, of a property that is at that time an eligible dwelling of the individual or of a qualifying relation in respect of the individual, that is of an enduring nature and that is integral to the eligible dwelling. (travaux de rénovation admissibles)Marginal note:Rules of application(2)For the purposes of this section,(a)a qualifying expenditure of an individual includes an outlay or expense made or incurred by a co-operative housing corporation, a condominium corporation (or, for civil law, a syndicate of co-owners) or a similar entity (in this paragraph referred to as the “corporation”), in respect of a property that is owned, administered or managed by that corporation, and that includes an eligible dwelling of the individual, to the extent of the individual’s share of that outlay or expense, if(i)the outlay or expense would be a qualifying expenditure of the corporation if the corporation were a natural person and the property were an eligible dwelling of that natural person, and(ii)the corporation has notified the individual, in writing, of the individual’s share of the outlay or expense; and(b)a qualifying expenditure of an individual includes an outlay or expense made or incurred by a trust, in respect of a property owned by the trust that includes an eligible dwelling of the individual, to the extent of the share of that outlay or expense that is reasonably attributable to the individual, having regard to the amount of the outlays or expenses made or incurred in respect of the eligible dwelling of the individual (including, for this purpose, common areas relevant to more than one eligible dwelling), if(i)the outlay or expense would be a qualifying expenditure of the trust if the trust were a natural person and the property were an eligible dwelling of that natural person, and(ii)the trust has notified the individual, in writing, of the individual’s share of the outlay or expense.Marginal note:Home renovation tax credit(3)For the purposes of computing the tax payable under this Part by an individual for the individual’s 2009 taxation year, there may be deducted the amount determined by the formulaA × (B – $1,000)whereAis the appropriate percentage for the taxation year; andBis the lesser of $10,000 and the total of all amounts, each of which is a qualifying expenditure of the individual.Marginal note:Interaction with medical expense credit(4)Notwithstanding paragraph 248(28)(b), an amount may be included in determining both an amount under subsection (3) and under section 118.2 if those amounts otherwise qualify to be included for the purposes of those provisions.Marginal note:Apportionment of credit(5)If more than one individual is entitled to a deduction under this section for a taxation year in respect of a qualifying expenditure of an individual, the total of all amounts so deductible shall not exceed the maximum amount that would be so deductible for the year by any one of those individuals in respect of the qualifying expenditure, if that individual were the only individual entitled to deduct an amount for the year under this section, and if the individuals cannot agree as to what portion of the amount each can so deduct, the Minister may fix the portions.
(a)the individual (or a trust under which the individual is a beneficiary) owns, whether jointly with another person or otherwise, at that time, the housing unit or a share of the capital stock of a co-operative housing corporation acquired for the sole purpose of acquiring the right to inhabit the housing unit owned by the corporation; and(b)the housing unit is ordinarily inhabited at any time during the eligible period by the individual, by the individual’s spouse or common-law partner or former spouse or common-law partner or by a child of the individual. (logement admissible)
(a)to acquire goods that have been used, or acquired for use or lease, by the individual or by a qualifying relation in respect of the individual, for any purpose whatever before they were acquired by the individual or the qualifying relation in respect of the individual;(b)made or incurred under the terms of an agreement entered into before the eligible period;(c)to acquire a property that can be used independently of the qualifying renovation;(d)that is the cost of annual, recurring or routine repair or maintenance;(e)to acquire a household appliance;(f)to acquire an electronic home-entertainment device;(g)for financing costs in respect of the qualifying renovation;(h)made or incurred for the purpose of gaining or producing income from a business or property; or(i)in respect of goods or services provided by a person not dealing at arm’s length with the individual, unless the person is registered for the purposes of Part IX of theExcise Tax Act. (dépense admissible)
(a)a qualifying expenditure of an individual includes an outlay or expense made or incurred by a co-operative housing corporation, a condominium corporation (or, for civil law, a syndicate of co-owners) or a similar entity (in this paragraph referred to as the “corporation”), in respect of a property that is owned, administered or managed by that corporation, and that includes an eligible dwelling of the individual, to the extent of the individual’s share of that outlay or expense, if(i)the outlay or expense would be a qualifying expenditure of the corporation if the corporation were a natural person and the property were an eligible dwelling of that natural person, and(ii)the corporation has notified the individual, in writing, of the individual’s share of the outlay or expense; and(b)a qualifying expenditure of an individual includes an outlay or expense made or incurred by a trust, in respect of a property owned by the trust that includes an eligible dwelling of the individual, to the extent of the share of that outlay or expense that is reasonably attributable to the individual, having regard to the amount of the outlays or expenses made or incurred in respect of the eligible dwelling of the individual (including, for this purpose, common areas relevant to more than one eligible dwelling), if(i)the outlay or expense would be a qualifying expenditure of the trust if the trust were a natural person and the property were an eligible dwelling of that natural person, and(ii)the trust has notified the individual, in writing, of the individual’s share of the outlay or expense.
(i)the outlay or expense would be a qualifying expenditure of the corporation if the corporation were a natural person and the property were an eligible dwelling of that natural person, and(ii)the corporation has notified the individual, in writing, of the individual’s share of the outlay or expense; and
(i)the outlay or expense would be a qualifying expenditure of the trust if the trust were a natural person and the property were an eligible dwelling of that natural person, and(ii)the trust has notified the individual, in writing, of the individual’s share of the outlay or expense.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2009, c. 31, s. 4
118.041(1)The following definitions apply in this section.eligible dwellingeligible dwellingof an individual, at any time in a taxation year, means a housing unit (including the land subjacent to the housing unit and the immediately contiguous land, but not including the portion of that land that exceeds the greater of ½ hectare and the portion of that land that the individual establishes is necessary for the use and enjoyment of the housing unit as a residence) located in Canada if(a)the individual (or a trust under which the individual is a beneficiary) owns — whether jointly with another person or otherwise — at that time, the housing unit or a share of the capital stock of a cooperative housing corporation acquired for the sole purpose of acquiring the right to inhabit the housing unit owned by the corporation; and(b)the housing unit is ordinarily inhabited, or is reasonably expected to be ordinarily inhabited, at any time in the taxation year(i)by the individual, if the individual is a qualifying individual, or(ii)by the individual and a qualifying individual, if(A)the individual is an eligible individual in respect of the qualifying individual, and(B)the qualifying individual does not, throughout the taxation year, own — whether jointly with another person or otherwise — and ordinarily inhabit another housing unit in Canada. (logement admissible)eligible individualeligible individual, in respect of a qualifying individual for a taxation year, means(a)an individual who is the qualifying individual’s spouse or common-law partner in the year;(b)except if paragraph (c) applies, an individual who is entitled to deduct an amount under subsection 118.3(2) for the year in respect of the qualifying individual or would be if no amount was claimed for the year by the qualifying individual under subsection 118.3(1) or by the qualifying individual’s spouse or common-law partner under section 118.8; or(c)in the case of a qualifying individual who has attained the age of 65 before the end of the year, an individual who(i)claimed for the year a deduction under subsection 118(1) in respect of the qualifying individual because of(A)paragraph (b) of the description of B in that subsection, or(B)paragraph (d) of the description of B in that subsection where the qualifying individual is a parent, grandparent, child, grandchild, brother, sister, aunt, uncle, nephew or niece of the individual, or of the individual’s spouse or common-law partner, or(ii)could have claimed for the year a deduction referred to in subparagraph (i) in respect of the qualifying individual if(A)the qualifying individual had no income for the year,(B)in the case of a deduction referred to in clause (i)(A), the individual were not married and not in a common-law partnership, and(C)in the case of a deduction under subsection 118(1) because of paragraph (d) of the description of B in that subsection in respect of a qualifying individual who is a dependant (within the meaning of subsection 118(6)) of the individual, the qualifying individual was dependent on the individual because of mental or physical infirmity. (particulier admissible)individualindividualdoes not include a trust. (particulier)qualifying expenditurequalifying expenditureof an individual means an outlay or expense that is made or incurred, during a taxation year, that is directly attributable to a qualifying renovation — of an eligible dwelling of a qualifying individual or an eligible individual in respect of a qualifying individual — and that is the cost of goods acquired or services received during the year and includes an outlay or expense for permits required for, or for the rental of equipment used in the course of, the qualifying renovation, but does not include an outlay or expense(a)to acquire a property that can be used independently of the qualifying renovation;(b)that is the cost of annual, recurring or routine repair or maintenance;(c)to acquire a household appliance;(d)to acquire an electronic home-entertainment device;(e)that is the cost of housekeeping, security monitoring, gardening, outdoor maintenance or similar services;(f)for financing costs in respect of the qualifying renovation;(g)made or incurred primarily for the purpose of increasing or maintaining the value of the eligible dwelling;(h)made or incurred for the purpose of gaining or producing income from a business or property;(i)in respect of goods or services provided by a person not dealing at arm’s length with the qualifying individual or the eligible individual, unless the person is registered for the purposes of Part IX of theExcise Tax Act; or(j)to the extent that the outlay or expense can reasonably be considered to have been reimbursed, otherwise than as assistance from the federal or a provincial government including a grant, subsidy, forgivable loan or a deduction from tax. (dépense admissible)qualifying individualqualifying individual, in respect of a taxation year, means an individual(a)who has attained the age of 65 years before the end of the taxation year; or(b)in respect of whom an amount is deductible, or would be deductible if this Act were read without reference to paragraph 118.3(1)(c), under section 118.3 in computing a taxpayer’s tax payable under this Part for the taxation year. (particulier déterminé)qualifying renovationqualifying renovationmeans a renovation or alteration of an eligible dwelling of a qualifying individual or an eligible individual in respect of a qualifying individual that(a)is of an enduring nature and integral to the eligible dwelling; and(b)is undertaken to(i)enable the qualifying individual to gain access to, or to be mobile or functional within, the eligible dwelling, or(ii)reduce the risk of harm to the qualifying individual within the eligible dwelling or in gaining access to the dwelling. (travaux de rénovation admissibles)Marginal note:Qualifying expenditure rules(2)For the purpose of this section,(a)a qualifying expenditure in respect of an eligible dwelling of a particular individual — who is a qualifying individual or an eligible individual in respect of a qualifying individual — includes an outlay or expense made or incurred by a cooperative housing corporation, a condominium corporation (or, for civil law, a syndicate of co-owners) or a similar entity (in this paragraph referred to as the “corporation”), in respect of a property that is owned, administered or managed by that corporation and that includes the eligible dwelling, to the extent of the share of that outlay or expense that is reasonably attributable to the eligible dwelling, if(i)the outlay or expense would be a qualifying expenditure of the corporation if the corporation were an individual and the property were an eligible dwelling of that individual, and(ii)the corporation has notified, in writing, either the particular individual or, if the particular individual is an eligible individual in respect of a qualifying individual, the qualifying individual, of the share of the outlay or expense that is attributable to the eligible dwelling; and(b)a qualifying expenditure in respect of an eligible dwelling of a particular individual — who is a qualifying individual or an eligible individual in respect of a qualifying individual — includes an outlay or expense made or incurred by a trust, in respect of a property owned by the trust that includes the eligible dwelling, to the extent of the share of that outlay or expense that is reasonably attributable to the eligible dwelling, having regard to the amount of the outlays or expenses made or incurred in respect of the eligible dwelling (including, for this purpose, common areas relevant to more than one eligible dwelling), if(i)the outlay or expense would be a qualifying expenditure of the trust if the trust were an individual and the property were an eligible dwelling of that individual, and(ii)the trust has notified, in writing, either the particular individual or, if the particular individual is an eligible individual in respect of a qualifying individual, the qualifying individual, of the share of the outlay or expense that is attributable to the eligible dwelling.Marginal note:Home accessibility tax credit(3)For the purpose of computing the tax payable under this Part by a qualifying individual or an eligible individual, in respect of an eligible dwelling for a taxation year, there may be deducted the amount determined by the formulaA × BwhereAis the appropriate percentage for the taxation year; andBis the lesser of(a)$20,000, and(b)the total of all amounts, each of which is a qualifying expenditure of the individual in respect of the eligible dwelling for the taxation year.Marginal note:Interaction with medical expense credit(4)Despite paragraph 248(28)(b), an amount may be included in determining both an amount under subsection (3) and under section 118.2 if those amounts otherwise qualify to be included for the purposes of those provisions.Marginal note:Limits(5)For the purpose of this section,(a)a maximum of $20,000 of qualifying expenditures for a taxation year in respect of a qualifying individual can be claimed under subsection (3) by the qualifying individual and all eligible individuals in respect of the qualifying individual;(b)if there is more than one qualifying individual in respect of an eligible dwelling, a maximum of $20,000 of qualifying expenditures for a taxation year in respect of the eligible dwelling can be claimed under subsection (3) by the qualifying individuals and all eligible individuals in respect of the qualifying individuals; and(c)if more than one individual is entitled to a deduction under subsection (3) for a taxation year in respect of the same qualifying individual or the same eligible dwelling and the individuals cannot agree as to what portion of the amount each can so deduct, the Minister may fix the portions.Marginal note:Effect of bankruptcy(6)For the purpose of subsection (5), if an individual becomes bankrupt in a particular calendar year, despite subsection 128(2), any reference to the taxation year of the individual is deemed to be a reference to the particular calendar year.Marginal note:In the event of death and bankruptcy(7)For the purpose of this section,(a)if an individual dies during a calendar year and would have attained 65 years of age if the individual were alive at the end of the year, the individual is deemed to have attained 65 years of age at the beginning of the year;(b)if an individual becomes a qualifying individual during a calendar year and becomes bankrupt in that year, the individual is deemed to be a qualifying individual at the beginning of that year; and(c)if an individual becomes a qualifying individual during a calendar year and an eligible individual in respect of the qualifying individual becomes bankrupt in that year, the individual is deemed to be a qualifying individual at the beginning of the year.
(a)the individual (or a trust under which the individual is a beneficiary) owns — whether jointly with another person or otherwise — at that time, the housing unit or a share of the capital stock of a cooperative housing corporation acquired for the sole purpose of acquiring the right to inhabit the housing unit owned by the corporation; and(b)the housing unit is ordinarily inhabited, or is reasonably expected to be ordinarily inhabited, at any time in the taxation year(i)by the individual, if the individual is a qualifying individual, or(ii)by the individual and a qualifying individual, if(A)the individual is an eligible individual in respect of the qualifying individual, and(B)the qualifying individual does not, throughout the taxation year, own — whether jointly with another person or otherwise — and ordinarily inhabit another housing unit in Canada. (logement admissible)
(i)by the individual, if the individual is a qualifying individual, or(ii)by the individual and a qualifying individual, if(A)the individual is an eligible individual in respect of the qualifying individual, and(B)the qualifying individual does not, throughout the taxation year, own — whether jointly with another person or otherwise — and ordinarily inhabit another housing unit in Canada. (logement admissible)
(A)the individual is an eligible individual in respect of the qualifying individual, and(B)the qualifying individual does not, throughout the taxation year, own — whether jointly with another person or otherwise — and ordinarily inhabit another housing unit in Canada. (logement admissible)
(a)an individual who is the qualifying individual’s spouse or common-law partner in the year;(b)except if paragraph (c) applies, an individual who is entitled to deduct an amount under subsection 118.3(2) for the year in respect of the qualifying individual or would be if no amount was claimed for the year by the qualifying individual under subsection 118.3(1) or by the qualifying individual’s spouse or common-law partner under section 118.8; or(c)in the case of a qualifying individual who has attained the age of 65 before the end of the year, an individual who(i)claimed for the year a deduction under subsection 118(1) in respect of the qualifying individual because of(A)paragraph (b) of the description of B in that subsection, or(B)paragraph (d) of the description of B in that subsection where the qualifying individual is a parent, grandparent, child, grandchild, brother, sister, aunt, uncle, nephew or niece of the individual, or of the individual’s spouse or common-law partner, or(ii)could have claimed for the year a deduction referred to in subparagraph (i) in respect of the qualifying individual if(A)the qualifying individual had no income for the year,(B)in the case of a deduction referred to in clause (i)(A), the individual were not married and not in a common-law partnership, and(C)in the case of a deduction under subsection 118(1) because of paragraph (d) of the description of B in that subsection in respect of a qualifying individual who is a dependant (within the meaning of subsection 118(6)) of the individual, the qualifying individual was dependent on the individual because of mental or physical infirmity. (particulier admissible)
(i)claimed for the year a deduction under subsection 118(1) in respect of the qualifying individual because of(A)paragraph (b) of the description of B in that subsection, or(B)paragraph (d) of the description of B in that subsection where the qualifying individual is a parent, grandparent, child, grandchild, brother, sister, aunt, uncle, nephew or niece of the individual, or of the individual’s spouse or common-law partner, or(ii)could have claimed for the year a deduction referred to in subparagraph (i) in respect of the qualifying individual if(A)the qualifying individual had no income for the year,(B)in the case of a deduction referred to in clause (i)(A), the individual were not married and not in a common-law partnership, and(C)in the case of a deduction under subsection 118(1) because of paragraph (d) of the description of B in that subsection in respect of a qualifying individual who is a dependant (within the meaning of subsection 118(6)) of the individual, the qualifying individual was dependent on the individual because of mental or physical infirmity. (particulier admissible)
(A)paragraph (b) of the description of B in that subsection, or(B)paragraph (d) of the description of B in that subsection where the qualifying individual is a parent, grandparent, child, grandchild, brother, sister, aunt, uncle, nephew or niece of the individual, or of the individual’s spouse or common-law partner, or
(A)the qualifying individual had no income for the year,(B)in the case of a deduction referred to in clause (i)(A), the individual were not married and not in a common-law partnership, and(C)in the case of a deduction under subsection 118(1) because of paragraph (d) of the description of B in that subsection in respect of a qualifying individual who is a dependant (within the meaning of subsection 118(6)) of the individual, the qualifying individual was dependent on the individual because of mental or physical infirmity. (particulier admissible)
(a)to acquire a property that can be used independently of the qualifying renovation;(b)that is the cost of annual, recurring or routine repair or maintenance;(c)to acquire a household appliance;(d)to acquire an electronic home-entertainment device;(e)that is the cost of housekeeping, security monitoring, gardening, outdoor maintenance or similar services;(f)for financing costs in respect of the qualifying renovation;(g)made or incurred primarily for the purpose of increasing or maintaining the value of the eligible dwelling;(h)made or incurred for the purpose of gaining or producing income from a business or property;(i)in respect of goods or services provided by a person not dealing at arm’s length with the qualifying individual or the eligible individual, unless the person is registered for the purposes of Part IX of theExcise Tax Act; or(j)to the extent that the outlay or expense can reasonably be considered to have been reimbursed, otherwise than as assistance from the federal or a provincial government including a grant, subsidy, forgivable loan or a deduction from tax. (dépense admissible)
(a)who has attained the age of 65 years before the end of the taxation year; or(b)in respect of whom an amount is deductible, or would be deductible if this Act were read without reference to paragraph 118.3(1)(c), under section 118.3 in computing a taxpayer’s tax payable under this Part for the taxation year. (particulier déterminé)
(a)is of an enduring nature and integral to the eligible dwelling; and(b)is undertaken to(i)enable the qualifying individual to gain access to, or to be mobile or functional within, the eligible dwelling, or(ii)reduce the risk of harm to the qualifying individual within the eligible dwelling or in gaining access to the dwelling. (travaux de rénovation admissibles)
(i)enable the qualifying individual to gain access to, or to be mobile or functional within, the eligible dwelling, or(ii)reduce the risk of harm to the qualifying individual within the eligible dwelling or in gaining access to the dwelling. (travaux de rénovation admissibles)
(a)a qualifying expenditure in respect of an eligible dwelling of a particular individual — who is a qualifying individual or an eligible individual in respect of a qualifying individual — includes an outlay or expense made or incurred by a cooperative housing corporation, a condominium corporation (or, for civil law, a syndicate of co-owners) or a similar entity (in this paragraph referred to as the “corporation”), in respect of a property that is owned, administered or managed by that corporation and that includes the eligible dwelling, to the extent of the share of that outlay or expense that is reasonably attributable to the eligible dwelling, if(i)the outlay or expense would be a qualifying expenditure of the corporation if the corporation were an individual and the property were an eligible dwelling of that individual, and(ii)the corporation has notified, in writing, either the particular individual or, if the particular individual is an eligible individual in respect of a qualifying individual, the qualifying individual, of the share of the outlay or expense that is attributable to the eligible dwelling; and(b)a qualifying expenditure in respect of an eligible dwelling of a particular individual — who is a qualifying individual or an eligible individual in respect of a qualifying individual — includes an outlay or expense made or incurred by a trust, in respect of a property owned by the trust that includes the eligible dwelling, to the extent of the share of that outlay or expense that is reasonably attributable to the eligible dwelling, having regard to the amount of the outlays or expenses made or incurred in respect of the eligible dwelling (including, for this purpose, common areas relevant to more than one eligible dwelling), if(i)the outlay or expense would be a qualifying expenditure of the trust if the trust were an individual and the property were an eligible dwelling of that individual, and(ii)the trust has notified, in writing, either the particular individual or, if the particular individual is an eligible individual in respect of a qualifying individual, the qualifying individual, of the share of the outlay or expense that is attributable to the eligible dwelling.
(i)the outlay or expense would be a qualifying expenditure of the corporation if the corporation were an individual and the property were an eligible dwelling of that individual, and(ii)the corporation has notified, in writing, either the particular individual or, if the particular individual is an eligible individual in respect of a qualifying individual, the qualifying individual, of the share of the outlay or expense that is attributable to the eligible dwelling; and
(i)the outlay or expense would be a qualifying expenditure of the trust if the trust were an individual and the property were an eligible dwelling of that individual, and(ii)the trust has notified, in writing, either the particular individual or, if the particular individual is an eligible individual in respect of a qualifying individual, the qualifying individual, of the share of the outlay or expense that is attributable to the eligible dwelling.
(a)$20,000, and(b)the total of all amounts, each of which is a qualifying expenditure of the individual in respect of the eligible dwelling for the taxation year.
(a)a maximum of $20,000 of qualifying expenditures for a taxation year in respect of a qualifying individual can be claimed under subsection (3) by the qualifying individual and all eligible individuals in respect of the qualifying individual;(b)if there is more than one qualifying individual in respect of an eligible dwelling, a maximum of $20,000 of qualifying expenditures for a taxation year in respect of the eligible dwelling can be claimed under subsection (3) by the qualifying individuals and all eligible individuals in respect of the qualifying individuals; and(c)if more than one individual is entitled to a deduction under subsection (3) for a taxation year in respect of the same qualifying individual or the same eligible dwelling and the individuals cannot agree as to what portion of the amount each can so deduct, the Minister may fix the portions.
(a)if an individual dies during a calendar year and would have attained 65 years of age if the individual were alive at the end of the year, the individual is deemed to have attained 65 years of age at the beginning of the year;(b)if an individual becomes a qualifying individual during a calendar year and becomes bankrupt in that year, the individual is deemed to be a qualifying individual at the beginning of that year; and(c)if an individual becomes a qualifying individual during a calendar year and an eligible individual in respect of the qualifying individual becomes bankrupt in that year, the individual is deemed to be a qualifying individual at the beginning of the year.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2015, c. 36, s. 82017, c. 20, s. 142022, c. 10, s. 5
118.05(1)The following definitions apply in this section.qualifying homequalifying homein respect of an individual, means aqualifying homeas defined in subsection 146.01(1) that is acquired, whether jointly or otherwise, after January 27, 2009 if(a)the home is acquired by the individual, or by the individual’s spouse or common-law partner, and(i)the individual intends to inhabit the home as a principal place of residence not later than one year after its acquisition,(ii)the individual did not own, whether jointly or otherwise, a home that was occupied by the individual in the period(A)that began at the beginning of the fourth preceding calendar year that ended before the acquisition, and(B)that ended on the day before the acquisition, and(iii)the individual’s spouse or common-law partner did not, in the period referred to in subparagraph (ii), own, whether jointly or otherwise, a home(A)that was inhabited by the individual during the marriage to or common-law partnership with the individual, or(B)that was a share of the capital stock of a cooperative housing corporation that relates to a housing unit inhabited by the individual during the marriage to or common-law partnership with the individual; or(b)the home is acquired by the individual for the benefit of a specified person in respect of the individual, and(i)the individual intends that the home be inhabited by the specified person as a principal place of residence not later than one year after its acquisition by the individual, and(ii)the purpose of the acquisition of the home by the individual is to enable the specified person to live in(A)a home that is more accessible by the specified person or in which the specified person is more mobile or functional, or(B)an environment better suited to the specified person’s personal needs and care. (habitation admissible)specified personspecified personin respect of an individual, at any time, means a person who(a)is the individual or is related at that time to the individual; and(b)would be entitled to a deduction under subsection 118.3(1) in computing tax payable under this Part for the person’s taxation year that includes that time if that subsection were read without reference to paragraph (c) of that subsection. (personne déterminée)Marginal note:Rules of application(2)For the purposes of this section, an individual is considered to have acquired a qualifying home only if the individual’s interest (or for civil law, right) in it is registered in accordance with the land registration system or other similar system applicable where it is located.Marginal note:First-time homebuyers’ tax credit(3)In computing the tax payable under this Part by an individual for a taxation year in which a qualifying home in respect of the individual is acquired, there may be deducted the amount determined by multiplying $10,000 by the appropriate percentage for the taxation year.Marginal note:Apportionment of credit(4)If more than one individual is entitled to a deduction under this section for a taxation year in respect of a particular qualifying home, the total of all amounts so deductible shall not exceed the maximum amount that would be so deductible for the year by any one of those individuals in respect of the qualifying home, if that individual were the only individual entitled to deduct an amount for the year under this section, and if the individuals cannot agree as to what portion of the amount each can so deduct, the Minister may fix the portions.
(a)the home is acquired by the individual, or by the individual’s spouse or common-law partner, and(i)the individual intends to inhabit the home as a principal place of residence not later than one year after its acquisition,(ii)the individual did not own, whether jointly or otherwise, a home that was occupied by the individual in the period(A)that began at the beginning of the fourth preceding calendar year that ended before the acquisition, and(B)that ended on the day before the acquisition, and(iii)the individual’s spouse or common-law partner did not, in the period referred to in subparagraph (ii), own, whether jointly or otherwise, a home(A)that was inhabited by the individual during the marriage to or common-law partnership with the individual, or(B)that was a share of the capital stock of a cooperative housing corporation that relates to a housing unit inhabited by the individual during the marriage to or common-law partnership with the individual; or(b)the home is acquired by the individual for the benefit of a specified person in respect of the individual, and(i)the individual intends that the home be inhabited by the specified person as a principal place of residence not later than one year after its acquisition by the individual, and(ii)the purpose of the acquisition of the home by the individual is to enable the specified person to live in(A)a home that is more accessible by the specified person or in which the specified person is more mobile or functional, or(B)an environment better suited to the specified person’s personal needs and care. (habitation admissible)
(i)the individual intends to inhabit the home as a principal place of residence not later than one year after its acquisition,(ii)the individual did not own, whether jointly or otherwise, a home that was occupied by the individual in the period(A)that began at the beginning of the fourth preceding calendar year that ended before the acquisition, and(B)that ended on the day before the acquisition, and(iii)the individual’s spouse or common-law partner did not, in the period referred to in subparagraph (ii), own, whether jointly or otherwise, a home(A)that was inhabited by the individual during the marriage to or common-law partnership with the individual, or(B)that was a share of the capital stock of a cooperative housing corporation that relates to a housing unit inhabited by the individual during the marriage to or common-law partnership with the individual; or
(A)that began at the beginning of the fourth preceding calendar year that ended before the acquisition, and(B)that ended on the day before the acquisition, and
(A)that was inhabited by the individual during the marriage to or common-law partnership with the individual, or(B)that was a share of the capital stock of a cooperative housing corporation that relates to a housing unit inhabited by the individual during the marriage to or common-law partnership with the individual; or
(i)the individual intends that the home be inhabited by the specified person as a principal place of residence not later than one year after its acquisition by the individual, and(ii)the purpose of the acquisition of the home by the individual is to enable the specified person to live in(A)a home that is more accessible by the specified person or in which the specified person is more mobile or functional, or(B)an environment better suited to the specified person’s personal needs and care. (habitation admissible)
(A)a home that is more accessible by the specified person or in which the specified person is more mobile or functional, or(B)an environment better suited to the specified person’s personal needs and care. (habitation admissible)
(a)is the individual or is related at that time to the individual; and(b)would be entitled to a deduction under subsection 118.3(1) in computing tax payable under this Part for the person’s taxation year that includes that time if that subsection were read without reference to paragraph (c) of that subsection. (personne déterminée)
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2009, c. 31, s. 42022, c. 19, s. 17
118.06(1)In this section and section 118.07,eligible volunteer firefighting servicesmeans services provided by an individual in the individual’s capacity as a volunteer firefighter to a fire department that consist primarily of responding to and being on call for firefighting and related emergency calls, attending meetings held by the fire department and participating in required training related to the prevention or suppression of fires, but does not include services provided to a particular fire department if the individual provides firefighting services to the department otherwise than as a volunteer.Marginal note:Volunteer firefighter tax credit(2)For the purpose of computing the tax payable under this Part for a taxation year by an individual who performs eligible volunteer firefighting services in the year, there may be deducted the amount determined by multiplying $3,000 by the appropriate percentage for the taxation year if the individual(a)performs in the year not less than 200 hours of service each of which is an hour of(i)eligible volunteer firefighting service for a fire department, or(ii)eligible search and rescue volunteer service for an eligible search and rescue organization; and(b)provides the certificates referred to in subsections (3) and 118.07(3) as and when requested by the Minister.Marginal note:Certificate(3)If the Minister so demands, an individual making a claim under this section in respect of a taxation year shall provide to the Minister a written certificate from the fire chief or a delegated official of each fire department to which the individual provided eligible volunteer firefighting services for the year, attesting to the number of hours of eligible volunteer firefighting services performed in the year by the individual for the particular fire department.
(a)performs in the year not less than 200 hours of service each of which is an hour of(i)eligible volunteer firefighting service for a fire department, or(ii)eligible search and rescue volunteer service for an eligible search and rescue organization; and(b)provides the certificates referred to in subsections (3) and 118.07(3) as and when requested by the Minister.
(i)eligible volunteer firefighting service for a fire department, or(ii)eligible search and rescue volunteer service for an eligible search and rescue organization; and
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2011, c. 24, s. 252014, c. 20, s. 7
118.07(1)The following definitions apply in this section and section 118.06.eligible search and rescue organizationeligible search and rescue organizationmeans a search and rescue organization(a)that is a member of the Search and Rescue Volunteer Association of Canada, the Civil Air Search and Rescue Association or the Canadian Coast Guard Auxiliary; or(b)whose status as a search and rescue organization is recognized by a provincial, municipal or public authority. (organisme admissible de recherche et sauvetage)eligible search and rescue volunteer serviceseligible search and rescue volunteer servicesmeans services, other than eligible volunteer firefighting services, provided by an individual in the individual’s capacity as a volunteer to an eligible search and rescue organization that consist primarily of responding to and being on call for search and rescue and related emergency calls, attending meetings held by the organization and participating in required training related to search and rescue services, but does not include services provided to an organization if the individual provides search and rescue services to the organization otherwise than as a volunteer. (services admissibles de volontaire en recherche et sauvetage)Marginal note:Search and rescue volunteer tax credit(2)For the purpose of computing the tax payable under this Part for a taxation year by an individual who performs eligible search and rescue volunteer services in the year, there may be deducted the amount determined by multiplying $3,000 by the appropriate percentage for the taxation year if the individual(a)performs in the year not less than 200 hours of service each of which is an hour of(i)eligible search and rescue volunteer service for an eligible search and rescue organization, or(ii)eligible volunteer firefighting services for a fire department;(b)provides the certificates referred to in subsections (3) and 118.06(3) as and when requested by the Minister; and(c)has not deducted an amount under section 118.06 for the year.Marginal note:Certificate(3)If the Minister so demands, an individual making a claim under this section in respect of a taxation year shall provide to the Minister a written certificate from the team president, or other individual who fulfils a similar role, of each eligible search and rescue organization to which the individual provided eligible search and rescue volunteer services for the year, attesting to the number of hours of eligible search and rescue volunteer services performed in the year by the individual for the particular organization.
(a)that is a member of the Search and Rescue Volunteer Association of Canada, the Civil Air Search and Rescue Association or the Canadian Coast Guard Auxiliary; or(b)whose status as a search and rescue organization is recognized by a provincial, municipal or public authority. (organisme admissible de recherche et sauvetage)
(a)performs in the year not less than 200 hours of service each of which is an hour of(i)eligible search and rescue volunteer service for an eligible search and rescue organization, or(ii)eligible volunteer firefighting services for a fire department;(b)provides the certificates referred to in subsections (3) and 118.06(3) as and when requested by the Minister; and(c)has not deducted an amount under section 118.06 for the year.
(i)eligible search and rescue volunteer service for an eligible search and rescue organization, or(ii)eligible volunteer firefighting services for a fire department;
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]2014, c. 20, s. 8
118.1(1)In this section,first-time donorfirst-time donor[Repealed, 2013, c. 33, s. 10]total charitable giftstotal charitable gifts, of an individual for a particular taxation year, means the total of all amounts each of which is the eligible amount — to the extent it is not otherwise included in determining an amount that is deducted under this section in computing any individual’s tax payable under this Part for any taxation year — of a gift (other than a gift any part of the eligible amount of which is included in the total cultural gifts or the total ecological gifts of any individual for any taxation year) that is made(a)to a qualified donee,(b)in a taxation year that is not a year for which an amount is deducted under subsection 110(2) in computing the individual’s taxable income, and(c)if the individual is(i)not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the five preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)a trust(A)by the trust in the particular year or any of the five preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de bienfaisance)total Crown giftstotal Crown gifts[Repealed, 2014, c. 39, s. 34]total cultural giftstotal cultural gifts, of an individual for a particular taxation year, means the total of all amounts each of which is the eligible amount — to the extent it is not otherwise included in determining an amount that is deducted under this section in computing any individual’s tax payable under this Part for any taxation year — of a gift(a)of an object that the Canadian Cultural Property Export Review Board has determined meets the criterion set out in paragraph 29(3)(b) of theCultural Property Export and Import Act,(b)that is made to an institution or a public authority in Canada that is, at the time the gift is made, designated under subsection 32(2) of theCultural Property Export and Import Acteither generally or for a specified purpose related to that object, and(c)that is made(i)if the individual is not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the five preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)if the individual is a trust,(A)by the trust in the particular year or any of the five preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens culturels)total ecological giftstotal ecological gifts, of an individual for a particular taxation year, means the total of all amounts each of which is the eligible amount — to the extent it is not otherwise included in determining an amount that is deducted under this section in computing any individual’s tax payable under this Part for any taxation year — of a gift (other than a gift any part of the eligible amount of which is included in the total cultural gifts of any individual for any taxation year)(a)of land (including a covenant or an easement to which land is subject or, in the case of land in the Province of Quebec, a personal servitude (the rights to which the land is subject and which has a term of not less than 100 years) or a real servitude)(i)the fair market value of which is certified by the Minister of the Environment, and(ii)that is certified by that Minister, or by a person designated by that Minister, to be ecologically sensitive land, the conservation and protection of which is, in the opinion of that Minister or the designated person, important to the preservation of Canada’s environmental heritage,(b)that is made to a qualified donee that is(i)Her Majesty in right of Canada or of a province,(i.1)a municipality in Canada, or a municipal or public body performing a function of government in Canada, that is approved by that Minister or the designated person in respect of the gift, or(ii)a registered charity (other than a private foundation) one of the main purposes of which is, in the opinion of that Minister, the conservation and protection of Canada’s environmental heritage, and that is approved by that Minister or the designated person in respect of the gift, and(c)that is made(i)if the individual is not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the 10 preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)if the individual is a trust,(A)by the trust in the particular year or any of the 10 preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens écosensibles)total giftstotal giftsof an individual for a taxation year means the total of(a)the least of(i)the individual’s total charitable gifts for the year,(ii)the individual’s income for the year where the individual dies in the year or in the following taxation year, and(iii)in any other case, the lesser of the individual’s income for the year and the amount determined by the formula0.75A + 0.25 (B + C + D - E)whereAis the individual’s income for the year,Bis the total of all amounts, each of which is that proportion of the individual’s taxable capital gain for the taxation year in respect of a gift made by the individual in the taxation year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift,Cis the total of all amounts each of which is a taxable capital gain of the individual for the year, because of subsection 40(1.01), from a disposition of a property in a preceding taxation year,Dis the total of all amounts each of which is determined in respect of the individual’s depreciable property of a prescribed class and equal to the lesser of(A)the amount included under subsection 13(1) in respect of the class in computing the individual’s income for the year, and(B)the total of all amounts each of which is determined in respect of a disposition that is the making of a gift of property of the class made by the individual in the year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) equal to the lesser of(I)that proportion, of the amount by which the proceeds of disposition of the property exceed any outlays and expenses, to the extent that they were made or incurred by the individual for the purpose of making the disposition, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and(II)that proportion, of the capital cost to the individual of the property, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, andEis the total of all amounts each of which is the portion of an amount deducted under section 110.6 in computing the individual’s taxable income for the year that can reasonably be considered to be in respect of a gift referred to in the description of B or C,(b)[Repealed, 2014, c. 39, s. 34](c)the individual’s total cultural gifts for the year, and(d)the individual’s total ecological gifts for the year. (total des dons)Marginal note:Proof of gift(2)An eligible amount of a gift is not to be included in the total charitable gifts, total cultural gifts or total ecological gifts of an individual unless the making of the gift is evidenced by filing with the Minister(a)a receipt for the gift that contains prescribed information;(b)in the case of a gift described in the definitiontotal cultural giftsin subsection (1), the certificate issued under subsection 33(1) of theCultural Property Export and Import Act; and(c)in the case of a gift described in the definitiontotal ecological giftsin subsection (1), both certificates referred to in that definition.Marginal note:Ordering of gifts(2.1)For the purpose of determining an individual’s total charitable gifts, total cultural gifts and total ecological gifts for a taxation year, no amount in respect of a gift described in any of the definitions of those expressions and made in a particular taxation year is to be considered to have been included in determining an amount that was deducted under this section in computing the individual’s tax payable under this Part for a taxation year until amounts in respect of such gifts made in taxation years preceding the particular year that can be so considered are so considered.Marginal note:Deduction by individuals for gifts(3)For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted such amount as the individual claims not exceeding the amount determined by the formulaA × B + C × D + E × FwhereAis the appropriate percentage for the year;Bis the lesser of $200 and the individual’s total gifts for the year;Cis the highest individual percentage for the year;Dis(a)in the case of a trust (other than a graduated rate estate or aqualified disability trustas defined in subsection 122(3)), the amount, if any, by which its total gifts for the year exceeds $200, and(b)in any other case, the lesser of(i)the amount, if any, by which the individual’s total gifts for the year exceeds $200, and(ii)the amount, if any, by which the individual’s amount taxable for the year for the purposes of subsection 117(2) exceeds the first dollar amount for the year referred to in paragraph 117(2)(e);Eis 29%; andFis the amount, if any, by which the individual’s total gifts for the year exceeds the total of $200 and the amount determined for D.(3.1) and (3.2)[Repealed, 2013, c. 33, s. 10]Marginal note:Gifts — deaths before 2016(4)If an individual dies before 2016 and any of this subsection and subsections (5), (5.2), (5.3), (7) and (7.1) (as they read for the taxation year in which the death occurred) applied to deem the individual to have made a gift at a time before the death, then for the purposes of this section the gift is deemed not to have been made by any other taxpayer or at any other time.Marginal note:Gifts — deaths after 2015(4.1)Subsection (5) applies to a gift if an estate arises on and as a consequence of the death after 2015 of an individual and the gift is(a)made by the individual by the individual’s will;(b)deemed by subsection (5.2) to have been made in respect of the death; or(c)made by the estate.Marginal note:Gifts — deaths after 2015(5)If this subsection applies to a gift, then for the purposes of the Act (other than subsections (4.1) and (5.2)) the gift is deemed to be made(a)by the estate referred to in subsection (4.1) and not by any other taxpayer; and(b)subject to subsection (13), at the time that the property that is the subject of the gift is transferred to the donee and not at any other time.Marginal note:Gifts by graduated rate estate(5.1)This subsection applies to a gift made by an individual’s graduated rate estate (determined without reference to paragraph (a) of the definitiongraduated rate estatein subsection 248(1)) if the gift is made no more than 60 months after the individual’s death, the death occurs after 2015 and either(a)the gift is deemed by subsection (5.2) to have been made in respect of the death, or(b)the subject of the gift is property that was acquired by the estate on and as a consequence of the death or is property that was substituted for that property.Marginal note:Deemed gifts — eligible transfers(5.2)For the purposes of this section, money or a negotiable instrument transferred to a qualified donee is deemed to be property that is the subject of a gift, in respect of an individual’s death, made to the qualified donee, if the death occurs after 2015 and the transfer is(a)a transfer — other than a transfer the amount of which is not included in computing the income of the individual or the individual’s estate for any taxation year but would have been included in computing the income of the individual or the estate for a taxation year if the transfer had been made to the individual’s legal representative for the estate’s benefit and this Act were read without reference to subsection 70(3) — made(i)as a consequence of the death,(ii)solely because of the obligations under a life insurance policy under which, immediately before the death, the individual’s life was insured, and the individual’s consent would have been required to change the recipient of the transfer, and(iii)from an insurer to a person that is the qualified donee and that was, immediately before the death, neither a policyholder under the policy nor an assignee of the individual’s interest under the policy; or(b)a transfer made(i)as a consequence of the death,(ii)solely because of the qualified donee’s interest or, for civil law a right, as a beneficiary under an arrangement (other than an arrangement of which a licensed annuities provider is the issuer or carrier)(A)that is a registered retirement savings plan or registered retirement income fund or that was, immediately before the death, a TFSA, and(B)under which the individual was, immediately before the death, the annuitant or holder, and(iii)from the arrangement to the qualified donee.(5.3)[Repealed, 2014, c. 39, s. 34]Marginal note:Where subsection (6) applies(5.4)Subsection (6) applies in circumstances where(a)an individual(i)makes a gift at any time of capital property to a qualified donee, or(ii)who is non-resident, makes a gift at any time of real or immovable property situated in Canada to a prescribed donee who provides an undertaking, in a form satisfactory to the Minister, to the effect that the property will be held for use in the public interest; and(b)the fair market value of the property otherwise determined at that time exceeds(i)in the case of depreciable property of a prescribed class, the lesser of the undepreciated capital cost of that class at the end of the taxation year of the individual that includes that time (determined without reference to proceeds of disposition designated in respect of the property under subsection (6)) and the adjusted cost base to the individual of the property immediately before that time, and(ii)in any other case, the adjusted cost base to the individual of the property immediately before that time.Marginal note:Gifts of capital property(6)If this subsection applies in respect of a gift by an individual of property, and the individual or the individual’s legal representative designates an amount in respect of the gift in the individual’s return of income under section 150 for the year in which the gift is made, the amount so designated is deemed to be the individual’s proceeds of disposition of the property and, for the purpose of subsection 248(31), the fair market value of the gift, but the amount so designated may not exceed the fair market value of the property otherwise determined and may not be less than the greater of(a)in the case of a gift made after December 20, 2002, the amount of the advantage, if any, in respect of the gift, and(b)the amount determined under subparagraph (5.4)(b)(i) or (ii), as the case may be, in respect of the property.Marginal note:Gift of art(7)Subsection (7.1) applies to a gift made by an individual if the gift is described in the definitiontotal charitable giftsortotal cultural giftsin subsection (1) and the property that is the subject of the gift is a work of art that(a)was created by the individual and is in the individual’s inventory;(b)was acquired by the individual under circumstances where subsection 70(3) applies; or(c)if the individual is an estate that arose on and as a consequence of the death of a particular individual who created the work of art, was in the particular individual’s inventory immediately before the death.Marginal note:Gift of art(7.1)If this subsection applies to a gift made by an individual, the following rules apply:(a)in the case of a gift described in the definitiontotal cultural giftsin subsection (1),(i)if at the time the gift is made the fair market value of the work of art that is the subject of the gift exceeds its cost amount to the individual, the individual is deemed to receive at that time proceeds of disposition in respect of the work of art equal to the greater of its cost amount to the individual at that time and the amount of the advantage, if any, in respect of the gift, and(ii)if the individual is the graduated rate estate of a particular individual who created the work of art that is the subject of the gift and at the time immediately before the particular individual’s death the fair market value of the work of art exceeds its cost amount to the particular individual, the particular individual is deemed to receive at that time proceeds of disposition in respect of the work of art equal to the cost amount to the particular individual at that time and the estate is deemed to have acquired the work of art at a cost equal to those proceeds; and(b)in the case of a gift described in the definitiontotal charitable giftsin subsection (1),(i)if at the time the gift is made the fair market value of the work of art that is the subject of the gift exceeds its cost amount to the individual, then the amount designated in the individual’s return of income under section 150 for the taxation year that includes that time is deemed to be(A)the individual’s proceeds of disposition in respect of the work of art, and(B)the fair market value of the work of art for the purposes of subsection 248(31),(ii)a designation under subparagraph (i) is of no effect to the extent that the amount designated(A)exceeds the fair market value of the work of art otherwise determined, or(B)is less than the greater of the amount of the advantage, if any, in respect of the gift, and the cost amount to the individual of the work of art,(iii)if the individual is the graduated rate estate of a particular individual who created the work of art that is the subject of the gift and at the time immediately before the particular individual’s death the fair market value of the work of art exceeds its cost amount to the particular individual,(A)the amount designated in the particular individual’s return of income under section 150 for the taxation year that includes that time is deemed to be the value of the work of art at the time of the death, and(B)the estate is deemed to have acquired the work of art at a cost equal to that value, and(iv)a designation under subparagraph (iii) is of no effect to the extent that the amount designated(A)exceeds the fair market value of the work of art otherwise determined, or(B)is less than the cost amount to the particular individual of the work of art.Marginal note:Gifts made by partnership(8)If at the end of a fiscal period of a partnership an individual is a member of the partnership, the individual’s share of any amount that would, if the partnership were a person, be the eligible amount of a gift made by the partnership to any donee is, for the purpose of this section, deemed to be the eligible amount of a gift made to that donee by the individual in the individual’s taxation year in which the fiscal period of the partnership ends.Marginal note:Commuter’s charitable donations(9)Where throughout a taxation year an individual resided in Canada near the boundary between Canada and the United States, if(a)the individual commuted to the individual’s principal place of employment or business in the United States, and(b)the individual’s chief source of income for the year was that employment or business,a gift made by the individual in the year to a religious, charitable, scientific, literary or educational organization created or organized in or under the laws of the United States that would be allowed as a deduction under the United States Internal Revenue Code shall, for the purpose of the definitiontotal charitable giftsin subsection 118.1(1), be deemed to have been made to a registered charity.Marginal note:Determination of fair market value(10)For the purposes of paragraph 110.1(1)(c) and the definitiontotal cultural giftsin subsection 118.1(1), the fair market value of an object is deemed to be the fair market value determined by the Canadian Cultural Property Export Review Board.Marginal note:Determination of fair market value(10.1)For the purposes of this section, subparagraph 69(1)(b)(ii), subsection 70(5) and sections 110.1 and 207.31, if at any time the Canadian Cultural Property Export Review Board or the Minister of the Environment determines or redetermines an amount to be the fair market value of a property that is the subject of a gift described in paragraph 110.1(1)(a), or in the definitiontotal charitable giftsin subsection (1), made by a taxpayer within the two-year period that begins at that time, an amount equal to the last amount so determined or redetermined within the period is deemed to be the fair market value of the gift at the time the gift was made and, subject to subsections (6), (7.1) and 110.1(3), to be the taxpayer’s proceeds of disposition of the gift.Marginal note:Request for determination by the Minister of the Environment(10.2)Where a person disposes or proposes to dispose of a property that would, if the disposition were made and the certificates described in paragraph 110.1(1)(d) or in the definitiontotal ecological giftsin subsection (1) were issued by the Minister of the Environment, be a gift described in those provisions, the person may request, by notice in writing to that Minister, a determination of the fair market value of the property.Marginal note:Duty of Minister of the Environment(10.3)In response to a request made under subsection (10.2), the Minister of the Environment shall with all due dispatch make a determination in accordance with subsection (12) or 110.1(5), as the case may be, of the fair market value of the property referred to in that request and give notice of the determination in writing to the person who has disposed of, or who proposes to dispose of, the property, except that no such determination shall be made if the request is received by that Minister after three years after the end of the person’s taxation year in which the disposition occurred.Marginal note:Ecological gifts — redetermination(10.4)Where the Minister of the Environment has, under subsection (10.3), notified a person of the amount determined by that Minister to be the fair market value of a property in respect of its disposition or proposed disposition,(a)that Minister shall, on receipt of a written request made by the person on or before the day that is 90 days after the day that the person was so notified of the first such determination, with all due dispatch confirm or redetermine the fair market value;(b)that Minister may, on that Minister’s own initiative, at any time redetermine the fair market value;(c)that Minister shall in either case notify the person in writing of that Minister’s confirmation or redetermination; and(d)any such redetermination is deemed to replace all preceding determinations and redeterminations of the fair market value of that property from the time at which the first such determination was made.Marginal note:Certificate of Fair Market Value(10.5)Where the Minister of the Environment determines under subsection (10.3) the fair market value of a property, or redetermines that value under subsection (10.4), and the property has been disposed of to a qualified donee described in paragraph 110.1(1)(d) or in the definitiontotal ecological giftsin subsection (1), that Minister shall issue to the person who made the disposition a certificate that states the fair market value of the property so determined or redetermined and, where more than one certificate has been so issued, the last certificate is deemed to replace all preceding certificates from the time at which the first certificate was issued.Marginal note:Assessments(11)Notwithstanding subsections 152(4) to (5), such assessments or reassessments of a taxpayer’s tax, interest or penalties payable under this Act for any taxation year shall be made as are necessary to give effect(a)to a certificate issued under subsection 33(1) of theCultural Property Export and Import Act or to a decision of a court resulting from an appeal made pursuant to section 33.1 of that Act; or(b)to a certificate issued under subsection (10.5) or to a decision of a court resulting from an appeal made pursuant to subsection 169(1.1).Marginal note:Ecological gifts(12)For the purposes of applying subparagraph 69(1)(b)(ii), subsection 70(5), this section and section 207.31 in respect of a gift described in the definitiontotal ecological giftsin subsection (1) that is made by an individual, the amount that is the fair market value (or, for the purpose of subsection (6), the fair market value otherwise determined) of the gift at the time the gift was made and, subject to subsection (6), the individual’s proceeds of disposition of the gift, is deemed to be the amount determined by the Minister of the Environment to be(a)where the gift is land, the fair market value of the gift; or(b)where the gift is a servitude, covenant or easement to which land is subject, the greater of(i)the fair market value otherwise determined of the gift, and(ii)the amount by which the fair market value of the land is reduced as a result of the making of the gift.Marginal note:Non-qualifying securities(13)For the purposes of this section (other than this subsection), if at any particular time an individual makes a gift (including a gift that, but for this subsection, would be deemed by subsection (5) to be made at the particular time) of a non-qualifying security of the individual and the gift is not an excepted gift,(a)except for the purpose of applying subsection 118.1(6) to determine the individual’s proceeds of disposition of the security, the gift is deemed not to have been made;(b)if the security ceases to be a non-qualifying security of the individual at a subsequent time that is within 60 months after the particular time and the donee has not disposed of the security at or before the subsequent time, the individual is deemed to have made a gift to the donee of property at the subsequent time and the fair market value of that property is deemed to be the lesser of the fair market value of the security at the subsequent time and the fair market value of the security at the particular time that would, if this Act were read without reference to this subsection, have been included in calculating the individual’s total charitable gifts for a taxation year;(c)if the security is disposed of by the donee within 60 months after the particular time and paragraph (b) does not apply to the security, the individual is deemed to have made a gift to the donee of property at the time of the disposition and the fair market value of that property is deemed to be the lesser of the fair market value of any consideration (other than a non-qualifying security of any person) received by the donee for the disposition and the fair market value of the security at the particular time that would, if this Act were read without reference to this subsection, have been included in calculating the individual’s total charitable gifts for a taxation year; and(d)a designation under subsection 118.1(6) or 110.1(3) in respect of the gift made at the particular time may be made in the individual’s return of income for the year that includes the subsequent time referred to in paragraph 118.1(13)(b) or the time of the disposition referred to in paragraph 118.1(13)(c).Marginal note:Application of subsection (13.2)(13.1)Subsection (13.2) applies if, as part of a series of transactions,(a)an individual makes, at a particular time, a gift of a particular property to a qualified donee;(b)a particular person holds a non-qualifying security of the individual; and(c)the qualified donee acquires, directly or indirectly, a non-qualifying security of the individual or of the particular person.Marginal note:Non-qualifying securities — third-party accommodation(13.2)If this subsection applies,(a)for the purposes of this section, the fair market value of the particular property is deemed to be reduced by an amount equal to the fair market value of the non-qualifying security acquired by the qualified donee; and(b)for the purposes of subsection (13),(i)if the non-qualifying security acquired by the qualified donee is a non-qualifying security of the particular person, it is deemed to be a non-qualifying security of the individual,(ii)the individual is deemed to have made, at the particular time referred to in subsection (13.1), a gift of the non-qualifying security acquired by the qualified donee, the fair market value of which does not exceed the amount, if any, by which(A)the fair market value of the particular property determined without reference to paragraph (a)exceeds(B)the fair market value of the particular property determined under paragraph (a), and(iii)paragraph (13)(b) does not apply in respect of the gift.Marginal note:Non-qualifying securities — anti-avoidance(13.3)For the purposes of subsections (13.1) and (13.2), if, as part of a series of transactions, an individual makes a gift to a qualified donee and the qualified donee acquires a non-qualifying security of a person (other than the individual or particular person referred to in subsection (13.1)) and it may reasonably be considered, having regard to all the circumstances, that one of the purposes or results of the acquisition of the non-qualifying security by the qualified donee was to facilitate, directly or indirectly, the making of the gift by the individual, then the non-qualifying security acquired by the qualified donee is deemed to be a non-qualifying security of the individual.Marginal note:Exchanged security(14)Where a share (in this subsection referred to as the “new share”) that is a non-qualifying security of an individual has been acquired by a donee referred to in subsection 118.1(13) in exchange for another share (in this subsection referred to as the “original share”) that is a non-qualifying security of the individual by means of a transaction to which section 51, subparagraphs 85.1(1)(a)(i) and 85.1(1)(a)(ii) or section 86 or 87 applies, the new share is deemed for the purposes of this subsection and subsection 118.1(13) to be the same share as the original share.Marginal note:Exchange of beneficial interest in trust(14.1)Where a donee disposes of a beneficial interest in a trust that is a non-qualifying security of an individual in circumstances where paragraph (13)(c) would, but for this subsection, apply in respect of the disposition, and in respect of which the donee receives no consideration other than other non-qualifying securities of the individual, for the purpose of subsection (13) the gift referred to in that subsection is to be read as a reference to a gift of those other non-qualifying securities.Marginal note:Death of donor(15)If, but for this subsection, an individual would be deemed by subsection 118.1(13) to have made a gift after the individual’s death, for the purpose of this section the individual is deemed to have made the gift in the taxation year in which the individual died, except that the amount of interest payable under any provision of this Act is the amount that it would be if this subsection did not apply to the gift.Marginal note:Loanbacks(16)For the purpose of this section, where(a)at any particular time an individual makes a gift of property,(b)if the property is a non-qualifying security of the individual, the gift is an excepted gift, and(c)within 60 months after the particular time(i)the donee holds a non-qualifying security of the individual that was acquired by the donee after the time that is 60 months before the particular time, or(ii)the individual or any person or partnership with which the individual does not deal at arm’s length uses property of the donee under an agreement that was made or modified after the time that is 60 months before the particular time, and the property was not used in the carrying on of the donee’s charitable activities,the fair market value of the gift is deemed to be that value otherwise determined minus the total of all amounts each of which is the fair market value of the consideration given by the donee to so acquire a non-qualifying security so held or the fair market value of such a property so used, as the case may be.Marginal note:Ordering rule(17)For the purpose of applying subsection (16) to determine the fair market value of a gift made at any time by a taxpayer, the fair market value of consideration given to acquire property described in subparagraph (16)(c)(i) or of property described in subparagraph (16)(c)(ii) is deemed to be that value otherwise determined minus any portion of it that has been applied under that subsection to reduce the fair market value of another gift made before that time by the taxpayer.Marginal note:Non-qualifying security defined(18)For the purposes of this section,non-qualifying securityof an individual at any time means(a)an obligation (other than an obligation of a financial institution to repay an amount deposited with the institution or an obligation listed on a designated stock exchange) of the individual or the individual’s estate or of any person or partnership with which the individual or the estate does not deal at arm’s length immediately after that time;(b)a share (other than a share listed on a designated stock exchange) of the capital stock of a corporation with which the individual or the estate or, where the individual is a trust, a person affiliated with the trust, does not deal at arm’s length immediately after that time;(b.1)a beneficial interest of the individual or the estate in a trust that(i)immediately after that time is affiliated with the individual or the estate, or(ii)holds, immediately after that time, a non-qualifying security of the individual or estate, or held, at or before that time, a share described in paragraph (b) that is, after that time, held by the donee; or(c)any other security (other than a security listed on a designated stock exchange) issued by the individual or the estate or by any person or partnership with which the individ-ual or the estate does not deal at arm’s length (or, in the case where the person is a trust, with which the individual or estate is affiliated) immediately after that time.Marginal note:Excepted gift(19)For the purposes of this section, a gift made by a taxpayer is an excepted gift if(a)the security is a share;(b)the donee is not a private foundation;(c)either,(i)if the taxpayer is an individual’s graduated rate estate,(A)the individual dealt at arm’s length with the donee immediately before the individual’s death, and(B)the graduated rate estate deals at arm’s length with the donee (determined without reference to paragraph 251(1)(b)), or(ii)if subparagraph (i) does not apply, the taxpayer deals at arm’s length with the donee; and(d)where the donee is a charitable organization or a public foundation, the taxpayer deals at arm’s length with each director, trustee, officer and like official of the donee.Marginal note:Financial institution defined(20)For the purpose of subsection 118.1(18),financial institutionmeans a corporation that is(a)a member of the Canadian Payments Association; or(b)a credit union that is a shareholder or member of a body corporate or organization that is a central for the purposes of theCanadian Payments Act.Marginal note:Options(21)Subject to subsections (23) and (24), if an individual has granted an option to a qualified donee in a taxation year, no amount in respect of the option is to be included in computing the total charitable gifts, total cultural gifts or total ecological gifts in respect of any taxpayer for any taxation year.Marginal note:Application of subsection (23)(22)Subsection (23) applies if(a)an option to acquire a property of an individual is granted to a qualified donee;(b)the option is exercised so that the property is disposed of by the individual and acquired by the qualified donee at a particular time; and(c)either(i)the amount that is 80% of the fair market value of the property at the particular time is greater than or equal to the total of(A)the consideration received by the individual from the qualified donee for the property, and(B)the consideration received by the individual from the qualified donee for the option, or(ii)the individual establishes to the satisfaction of the Minister that the granting of the option or the disposition of the property was made by the individual with the intention to make a gift to the qualified donee.Marginal note:Granting of an option(23)If this subsection applies, notwithstanding subsection 49(3),(a)the individual is deemed to have received proceeds of disposition of the property equal to the property’s fair market value at the particular time; and(b)there shall be included in the individual’s total charitable gifts, for the taxation year that includes the particular time, the amount by which the property’s fair market value exceeds the total described in subparagraph (22)(c)(i).Marginal note:Disposition of an option(24)If an option to acquire a particular property of an individual is granted to a qualified donee and the option is disposed of by the qualified donee (otherwise than by the exercise of the option) at a particular time(a)the individual is deemed to have disposed of a property at the particular time(i)the adjusted cost base of which to the individual immediately before the particular time is equal to the consideration, if any, paid by the qualified donee for the option, and(ii)the proceeds of disposition of which are equal to the lesser of the fair market value of the particular property at the particular time and the fair market value of any consideration (other than a non-qualifying security of any person) received by the qualified donee for the option; and(b)there shall be included in the total charitable gifts of the individual for the individual’s taxation year that includes the particular time the amount, if any, by which the proceeds of disposition as determined by paragraph (a) exceed the consideration, if any, paid by the donee for the option.Marginal note:Returned property(25)Subsection (26) applies if a qualified donee has issued to an individual a receipt referred to in subsection (2) in respect of a transfer of a property (in this subsection and subsection (26) referred to as the “original property”) and a particular property that is(a)the original property is later transferred to the individual (unless that later transfer is reasonable consideration or remuneration for property acquired by or services rendered to a person); or(b)any other property that may reasonably be considered compensation for or a substitute for, in whole or in part, the original property, is later transferred to the individual.Marginal note:Returned property(26)If this subsection applies, then(a)irrespective of whether the transfer of the original property by the individual to the qualified donee referred to in subsection (25) was a gift, the individual is deemed not to have disposed of the original property at the time of that transfer nor to have made a gift;(b)if the particular property is identical to the original property, the particular property is deemed to be the original property; and(c)if the particular property is not the original property, then(i)the individual is deemed to have disposed of the original property at the time that the particular property is transferred to the individual for proceeds of disposition equal to the greater of the fair market value of the particular property at that time and the fair market value of the original property at the time that it was transferred by the individual to the donee, and(ii)if the transfer of the original property by the individual would be a gift if this section were read without reference to paragraph (a), the individual is deemed to have, at the time of that transfer, transferred to the donee a property that is the subject of a gift having a fair market value equal to the amount, if any, by which the fair market value of the original property at the time of that transfer exceeds the fair market value of the particular property at the time that it is transferred to the individual.Marginal note:Information return(27)If subsection (26) applies in respect of a transfer of property to an individual and that property has a fair market value greater than $50, the transferor must file an information return containing prescribed information with the Minister not later than 90 days after the day on which the property was transferred and provide a copy of the return to the individual.Marginal note:Reassessment(28)If subsection (26) applies in respect of a transfer of property to an individual, the Minister may reassess a return of income of any person to the extent that the reassessment can reasonably be regarded as relating to the transfer.
(a)to a qualified donee,(b)in a taxation year that is not a year for which an amount is deducted under subsection 110(2) in computing the individual’s taxable income, and(c)if the individual is(i)not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the five preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)a trust(A)by the trust in the particular year or any of the five preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de bienfaisance)
(i)not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the five preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)a trust(A)by the trust in the particular year or any of the five preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de bienfaisance)
(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the five preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or
(A)by the trust in the particular year or any of the five preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de bienfaisance)
(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or
(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de bienfaisance)
(a)of an object that the Canadian Cultural Property Export Review Board has determined meets the criterion set out in paragraph 29(3)(b) of theCultural Property Export and Import Act,(b)that is made to an institution or a public authority in Canada that is, at the time the gift is made, designated under subsection 32(2) of theCultural Property Export and Import Acteither generally or for a specified purpose related to that object, and(c)that is made(i)if the individual is not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the five preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)if the individual is a trust,(A)by the trust in the particular year or any of the five preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens culturels)
(i)if the individual is not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the five preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)if the individual is a trust,(A)by the trust in the particular year or any of the five preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens culturels)
(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the five preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or
(A)by the trust in the particular year or any of the five preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens culturels)
(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or
(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens culturels)
(a)of land (including a covenant or an easement to which land is subject or, in the case of land in the Province of Quebec, a personal servitude (the rights to which the land is subject and which has a term of not less than 100 years) or a real servitude)(i)the fair market value of which is certified by the Minister of the Environment, and(ii)that is certified by that Minister, or by a person designated by that Minister, to be ecologically sensitive land, the conservation and protection of which is, in the opinion of that Minister or the designated person, important to the preservation of Canada’s environmental heritage,(b)that is made to a qualified donee that is(i)Her Majesty in right of Canada or of a province,(i.1)a municipality in Canada, or a municipal or public body performing a function of government in Canada, that is approved by that Minister or the designated person in respect of the gift, or(ii)a registered charity (other than a private foundation) one of the main purposes of which is, in the opinion of that Minister, the conservation and protection of Canada’s environmental heritage, and that is approved by that Minister or the designated person in respect of the gift, and(c)that is made(i)if the individual is not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the 10 preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)if the individual is a trust,(A)by the trust in the particular year or any of the 10 preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens écosensibles)
(i)the fair market value of which is certified by the Minister of the Environment, and(ii)that is certified by that Minister, or by a person designated by that Minister, to be ecologically sensitive land, the conservation and protection of which is, in the opinion of that Minister or the designated person, important to the preservation of Canada’s environmental heritage,
(i)Her Majesty in right of Canada or of a province,(i.1)a municipality in Canada, or a municipal or public body performing a function of government in Canada, that is approved by that Minister or the designated person in respect of the gift, or(ii)a registered charity (other than a private foundation) one of the main purposes of which is, in the opinion of that Minister, the conservation and protection of Canada’s environmental heritage, and that is approved by that Minister or the designated person in respect of the gift, and
(i)if the individual is not a trust,(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the 10 preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or(ii)if the individual is a trust,(A)by the trust in the particular year or any of the 10 preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens écosensibles)
(A)by the individual, or the individual’s spouse or common-law partner, in the particular year or any of the 10 preceding taxation years,(B)by the individual in the year in which the individual dies if the particular year is the taxation year that precedes the taxation year in which the individual dies, or(C)by the individual’s estate if subsection (5.1) applies to the gift and the particular year is the taxation year in which the individual dies or the preceding taxation year, or
(A)by the trust in the particular year or any of the 10 preceding taxation years,(B)by the trust if(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or(C)by the trust if(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens écosensibles)
(I)the trust is an individual’s estate,(II)subsection (5.1) applies to the gift, and(III)the particular year is a taxation year1in which the estate is the individual’s graduated rate estate, and2that precedes the taxation year in which the gift is made, or
(I)the end of the particular year is determined by paragraph 104(13.4)(a) because of an individual’s death,(II)the gift is made after the particular year and on or before the trust’s filing-due date for the particular year, and(III)the subject of the gift is property that is held by the trust at the time of the individual’s death or is property that was substituted for that property; (total des dons de biens écosensibles)
(a)the least of(i)the individual’s total charitable gifts for the year,(ii)the individual’s income for the year where the individual dies in the year or in the following taxation year, and(iii)in any other case, the lesser of the individual’s income for the year and the amount determined by the formula0.75A + 0.25 (B + C + D - E)whereAis the individual’s income for the year,Bis the total of all amounts, each of which is that proportion of the individual’s taxable capital gain for the taxation year in respect of a gift made by the individual in the taxation year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift,Cis the total of all amounts each of which is a taxable capital gain of the individual for the year, because of subsection 40(1.01), from a disposition of a property in a preceding taxation year,Dis the total of all amounts each of which is determined in respect of the individual’s depreciable property of a prescribed class and equal to the lesser of(A)the amount included under subsection 13(1) in respect of the class in computing the individual’s income for the year, and(B)the total of all amounts each of which is determined in respect of a disposition that is the making of a gift of property of the class made by the individual in the year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) equal to the lesser of(I)that proportion, of the amount by which the proceeds of disposition of the property exceed any outlays and expenses, to the extent that they were made or incurred by the individual for the purpose of making the disposition, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and(II)that proportion, of the capital cost to the individual of the property, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, andEis the total of all amounts each of which is the portion of an amount deducted under section 110.6 in computing the individual’s taxable income for the year that can reasonably be considered to be in respect of a gift referred to in the description of B or C,(b)[Repealed, 2014, c. 39, s. 34](c)the individual’s total cultural gifts for the year, and(d)the individual’s total ecological gifts for the year. (total des dons)
(i)the individual’s total charitable gifts for the year,(ii)the individual’s income for the year where the individual dies in the year or in the following taxation year, and(iii)in any other case, the lesser of the individual’s income for the year and the amount determined by the formula0.75A + 0.25 (B + C + D - E)whereAis the individual’s income for the year,Bis the total of all amounts, each of which is that proportion of the individual’s taxable capital gain for the taxation year in respect of a gift made by the individual in the taxation year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift,Cis the total of all amounts each of which is a taxable capital gain of the individual for the year, because of subsection 40(1.01), from a disposition of a property in a preceding taxation year,Dis the total of all amounts each of which is determined in respect of the individual’s depreciable property of a prescribed class and equal to the lesser of(A)the amount included under subsection 13(1) in respect of the class in computing the individual’s income for the year, and(B)the total of all amounts each of which is determined in respect of a disposition that is the making of a gift of property of the class made by the individual in the year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) equal to the lesser of(I)that proportion, of the amount by which the proceeds of disposition of the property exceed any outlays and expenses, to the extent that they were made or incurred by the individual for the purpose of making the disposition, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and(II)that proportion, of the capital cost to the individual of the property, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, andEis the total of all amounts each of which is the portion of an amount deducted under section 110.6 in computing the individual’s taxable income for the year that can reasonably be considered to be in respect of a gift referred to in the description of B or C,
(A)the amount included under subsection 13(1) in respect of the class in computing the individual’s income for the year, and(B)the total of all amounts each of which is determined in respect of a disposition that is the making of a gift of property of the class made by the individual in the year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) equal to the lesser of(I)that proportion, of the amount by which the proceeds of disposition of the property exceed any outlays and expenses, to the extent that they were made or incurred by the individual for the purpose of making the disposition, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and(II)that proportion, of the capital cost to the individual of the property, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and
(I)that proportion, of the amount by which the proceeds of disposition of the property exceed any outlays and expenses, to the extent that they were made or incurred by the individual for the purpose of making the disposition, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and(II)that proportion, of the capital cost to the individual of the property, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and
(a)a receipt for the gift that contains prescribed information;(b)in the case of a gift described in the definitiontotal cultural giftsin subsection (1), the certificate issued under subsection 33(1) of theCultural Property Export and Import Act; and(c)in the case of a gift described in the definitiontotal ecological giftsin subsection (1), both certificates referred to in that definition.
(a)in the case of a trust (other than a graduated rate estate or aqualified disability trustas defined in subsection 122(3)), the amount, if any, by which its total gifts for the year exceeds $200, and(b)in any other case, the lesser of(i)the amount, if any, by which the individual’s total gifts for the year exceeds $200, and(ii)the amount, if any, by which the individual’s amount taxable for the year for the purposes of subsection 117(2) exceeds the first dollar amount for the year referred to in paragraph 117(2)(e);
(i)the amount, if any, by which the individual’s total gifts for the year exceeds $200, and(ii)the amount, if any, by which the individual’s amount taxable for the year for the purposes of subsection 117(2) exceeds the first dollar amount for the year referred to in paragraph 117(2)(e);
(a)made by the individual by the individual’s will;(b)deemed by subsection (5.2) to have been made in respect of the death; or(c)made by the estate.
(a)by the estate referred to in subsection (4.1) and not by any other taxpayer; and(b)subject to subsection (13), at the time that the property that is the subject of the gift is transferred to the donee and not at any other time.
(a)the gift is deemed by subsection (5.2) to have been made in respect of the death, or(b)the subject of the gift is property that was acquired by the estate on and as a consequence of the death or is property that was substituted for that property.
(a)a transfer — other than a transfer the amount of which is not included in computing the income of the individual or the individual’s estate for any taxation year but would have been included in computing the income of the individual or the estate for a taxation year if the transfer had been made to the individual’s legal representative for the estate’s benefit and this Act were read without reference to subsection 70(3) — made(i)as a consequence of the death,(ii)solely because of the obligations under a life insurance policy under which, immediately before the death, the individual’s life was insured, and the individual’s consent would have been required to change the recipient of the transfer, and(iii)from an insurer to a person that is the qualified donee and that was, immediately before the death, neither a policyholder under the policy nor an assignee of the individual’s interest under the policy; or(b)a transfer made(i)as a consequence of the death,(ii)solely because of the qualified donee’s interest or, for civil law a right, as a beneficiary under an arrangement (other than an arrangement of which a licensed annuities provider is the issuer or carrier)(A)that is a registered retirement savings plan or registered retirement income fund or that was, immediately before the death, a TFSA, and(B)under which the individual was, immediately before the death, the annuitant or holder, and(iii)from the arrangement to the qualified donee.
(i)as a consequence of the death,(ii)solely because of the obligations under a life insurance policy under which, immediately before the death, the individual’s life was insured, and the individual’s consent would have been required to change the recipient of the transfer, and(iii)from an insurer to a person that is the qualified donee and that was, immediately before the death, neither a policyholder under the policy nor an assignee of the individual’s interest under the policy; or
(i)as a consequence of the death,(ii)solely because of the qualified donee’s interest or, for civil law a right, as a beneficiary under an arrangement (other than an arrangement of which a licensed annuities provider is the issuer or carrier)(A)that is a registered retirement savings plan or registered retirement income fund or that was, immediately before the death, a TFSA, and(B)under which the individual was, immediately before the death, the annuitant or holder, and(iii)from the arrangement to the qualified donee.
(A)that is a registered retirement savings plan or registered retirement income fund or that was, immediately before the death, a TFSA, and(B)under which the individual was, immediately before the death, the annuitant or holder, and
(a)an individual(i)makes a gift at any time of capital property to a qualified donee, or(ii)who is non-resident, makes a gift at any time of real or immovable property situated in Canada to a prescribed donee who provides an undertaking, in a form satisfactory to the Minister, to the effect that the property will be held for use in the public interest; and(b)the fair market value of the property otherwise determined at that time exceeds(i)in the case of depreciable property of a prescribed class, the lesser of the undepreciated capital cost of that class at the end of the taxation year of the individual that includes that time (determined without reference to proceeds of disposition designated in respect of the property under subsection (6)) and the adjusted cost base to the individual of the property immediately before that time, and(ii)in any other case, the adjusted cost base to the individual of the property immediately before that time.
(i)makes a gift at any time of capital property to a qualified donee, or(ii)who is non-resident, makes a gift at any time of real or immovable property situated in Canada to a prescribed donee who provides an undertaking, in a form satisfactory to the Minister, to the effect that the property will be held for use in the public interest; and
(i)in the case of depreciable property of a prescribed class, the lesser of the undepreciated capital cost of that class at the end of the taxation year of the individual that includes that time (determined without reference to proceeds of disposition designated in respect of the property under subsection (6)) and the adjusted cost base to the individual of the property immediately before that time, and(ii)in any other case, the adjusted cost base to the individual of the property immediately before that time.
(a)in the case of a gift made after December 20, 2002, the amount of the advantage, if any, in respect of the gift, and(b)the amount determined under subparagraph (5.4)(b)(i) or (ii), as the case may be, in respect of the property.
(a)was created by the individual and is in the individual’s inventory;(b)was acquired by the individual under circumstances where subsection 70(3) applies; or(c)if the individual is an estate that arose on and as a consequence of the death of a particular individual who created the work of art, was in the particular individual’s inventory immediately before the death.
(a)in the case of a gift described in the definitiontotal cultural giftsin subsection (1),(i)if at the time the gift is made the fair market value of the work of art that is the subject of the gift exceeds its cost amount to the individual, the individual is deemed to receive at that time proceeds of disposition in respect of the work of art equal to the greater of its cost amount to the individual at that time and the amount of the advantage, if any, in respect of the gift, and(ii)if the individual is the graduated rate estate of a particular individual who created the work of art that is the subject of the gift and at the time immediately before the particular individual’s death the fair market value of the work of art exceeds its cost amount to the particular individual, the particular individual is deemed to receive at that time proceeds of disposition in respect of the work of art equal to the cost amount to the particular individual at that time and the estate is deemed to have acquired the work of art at a cost equal to those proceeds; and(b)in the case of a gift described in the definitiontotal charitable giftsin subsection (1),(i)if at the time the gift is made the fair market value of the work of art that is the subject of the gift exceeds its cost amount to the individual, then the amount designated in the individual’s return of income under section 150 for the taxation year that includes that time is deemed to be(A)the individual’s proceeds of disposition in respect of the work of art, and(B)the fair market value of the work of art for the purposes of subsection 248(31),(ii)a designation under subparagraph (i) is of no effect to the extent that the amount designated(A)exceeds the fair market value of the work of art otherwise determined, or(B)is less than the greater of the amount of the advantage, if any, in respect of the gift, and the cost amount to the individual of the work of art,(iii)if the individual is the graduated rate estate of a particular individual who created the work of art that is the subject of the gift and at the time immediately before the particular individual’s death the fair market value of the work of art exceeds its cost amount to the particular individual,(A)the amount designated in the particular individual’s return of income under section 150 for the taxation year that includes that time is deemed to be the value of the work of art at the time of the death, and(B)the estate is deemed to have acquired the work of art at a cost equal to that value, and(iv)a designation under subparagraph (iii) is of no effect to the extent that the amount designated(A)exceeds the fair market value of the work of art otherwise determined, or(B)is less than the cost amount to the particular individual of the work of art.
(i)if at the time the gift is made the fair market value of the work of art that is the subject of the gift exceeds its cost amount to the individual, the individual is deemed to receive at that time proceeds of disposition in respect of the work of art equal to the greater of its cost amount to the individual at that time and the amount of the advantage, if any, in respect of the gift, and(ii)if the individual is the graduated rate estate of a particular individual who created the work of art that is the subject of the gift and at the time immediately before the particular individual’s death the fair market value of the work of art exceeds its cost amount to the particular individual, the particular individual is deemed to receive at that time proceeds of disposition in respect of the work of art equal to the cost amount to the particular individual at that time and the estate is deemed to have acquired the work of art at a cost equal to those proceeds; and
(i)if at the time the gift is made the fair market value of the work of art that is the subject of the gift exceeds its cost amount to the individual, then the amount designated in the individual’s return of income under section 150 for the taxation year that includes that time is deemed to be(A)the individual’s proceeds of disposition in respect of the work of art, and(B)the fair market value of the work of art for the purposes of subsection 248(31),(ii)a designation under subparagraph (i) is of no effect to the extent that the amount designated(A)exceeds the fair market value of the work of art otherwise determined, or(B)is less than the greater of the amount of the advantage, if any, in respect of the gift, and the cost amount to the individual of the work of art,(iii)if the individual is the graduated rate estate of a particular individual who created the work of art that is the subject of the gift and at the time immediately before the particular individual’s death the fair market value of the work of art exceeds its cost amount to the particular individual,(A)the amount designated in the particular individual’s return of income under section 150 for the taxation year that includes that time is deemed to be the value of the work of art at the time of the death, and(B)the estate is deemed to have acquired the work of art at a cost equal to that value, and(iv)a designation under subparagraph (iii) is of no effect to the extent that the amount designated(A)exceeds the fair market value of the work of art otherwise determined, or(B)is less than the cost amount to the particular individual of the work of art.
(A)the individual’s proceeds of disposition in respect of the work of art, and(B)the fair market value of the work of art for the purposes of subsection 248(31),
(A)exceeds the fair market value of the work of art otherwise determined, or(B)is less than the greater of the amount of the advantage, if any, in respect of the gift, and the cost amount to the individual of the work of art,
(A)the amount designated in the particular individual’s return of income under section 150 for the taxation year that includes that time is deemed to be the value of the work of art at the time of the death, and(B)the estate is deemed to have acquired the work of art at a cost equal to that value, and
(A)exceeds the fair market value of the work of art otherwise determined, or(B)is less than the cost amount to the particular individual of the work of art.
(a)the individual commuted to the individual’s principal place of employment or business in the United States, and(b)the individual’s chief source of income for the year was that employment or business,
(a)that Minister shall, on receipt of a written request made by the person on or before the day that is 90 days after the day that the person was so notified of the first such determination, with all due dispatch confirm or redetermine the fair market value;(b)that Minister may, on that Minister’s own initiative, at any time redetermine the fair market value;(c)that Minister shall in either case notify the person in writing of that Minister’s confirmation or redetermination; and(d)any such redetermination is deemed to replace all preceding determinations and redeterminations of the fair market value of that property from the time at which the first such determination was made.
(a)to a certificate issued under subsection 33(1) of theCultural Property Export and Import Act or to a decision of a court resulting from an appeal made pursuant to section 33.1 of that Act; or(b)to a certificate issued under subsection (10.5) or to a decision of a court resulting from an appeal made pursuant to subsection 169(1.1).
(a)where the gift is land, the fair market value of the gift; or(b)where the gift is a servitude, covenant or easement to which land is subject, the greater of(i)the fair market value otherwise determined of the gift, and(ii)the amount by which the fair market value of the land is reduced as a result of the making of the gift.
(i)the fair market value otherwise determined of the gift, and(ii)the amount by which the fair market value of the land is reduced as a result of the making of the gift.
(a)except for the purpose of applying subsection 118.1(6) to determine the individual’s proceeds of disposition of the security, the gift is deemed not to have been made;(b)if the security ceases to be a non-qualifying security of the individual at a subsequent time that is within 60 months after the particular time and the donee has not disposed of the security at or before the subsequent time, the individual is deemed to have made a gift to the donee of property at the subsequent time and the fair market value of that property is deemed to be the lesser of the fair market value of the security at the subsequent time and the fair market value of the security at the particular time that would, if this Act were read without reference to this subsection, have been included in calculating the individual’s total charitable gifts for a taxation year;(c)if the security is disposed of by the donee within 60 months after the particular time and paragraph (b) does not apply to the security, the individual is deemed to have made a gift to the donee of property at the time of the disposition and the fair market value of that property is deemed to be the lesser of the fair market value of any consideration (other than a non-qualifying security of any person) received by the donee for the disposition and the fair market value of the security at the particular time that would, if this Act were read without reference to this subsection, have been included in calculating the individual’s total charitable gifts for a taxation year; and(d)a designation under subsection 118.1(6) or 110.1(3) in respect of the gift made at the particular time may be made in the individual’s return of income for the year that includes the subsequent time referred to in paragraph 118.1(13)(b) or the time of the disposition referred to in paragraph 118.1(13)(c).
(a)an individual makes, at a particular time, a gift of a particular property to a qualified donee;(b)a particular person holds a non-qualifying security of the individual; and(c)the qualified donee acquires, directly or indirectly, a non-qualifying security of the individual or of the particular person.
(a)for the purposes of this section, the fair market value of the particular property is deemed to be reduced by an amount equal to the fair market value of the non-qualifying security acquired by the qualified donee; and(b)for the purposes of subsection (13),(i)if the non-qualifying security acquired by the qualified donee is a non-qualifying security of the particular person, it is deemed to be a non-qualifying security of the individual,(ii)the individual is deemed to have made, at the particular time referred to in subsection (13.1), a gift of the non-qualifying security acquired by the qualified donee, the fair market value of which does not exceed the amount, if any, by which(A)the fair market value of the particular property determined without reference to paragraph (a)exceeds(B)the fair market value of the particular property determined under paragraph (a), and(iii)paragraph (13)(b) does not apply in respect of the gift.
(i)if the non-qualifying security acquired by the qualified donee is a non-qualifying security of the particular person, it is deemed to be a non-qualifying security of the individual,(ii)the individual is deemed to have made, at the particular time referred to in subsection (13.1), a gift of the non-qualifying security acquired by the qualified donee, the fair market value of which does not exceed the amount, if any, by which(A)the fair market value of the particular property determined without reference to paragraph (a)exceeds(B)the fair market value of the particular property determined under paragraph (a), and(iii)paragraph (13)(b) does not apply in respect of the gift.
(A)the fair market value of the particular property determined without reference to paragraph (a)
(B)the fair market value of the particular property determined under paragraph (a), and
(a)at any particular time an individual makes a gift of property,(b)if the property is a non-qualifying security of the individual, the gift is an excepted gift, and(c)within 60 months after the particular time(i)the donee holds a non-qualifying security of the individual that was acquired by the donee after the time that is 60 months before the particular time, or(ii)the individual or any person or partnership with which the individual does not deal at arm’s length uses property of the donee under an agreement that was made or modified after the time that is 60 months before the particular time, and the property was not used in the carrying on of the donee’s charitable activities,
(i)the donee holds a non-qualifying security of the individual that was acquired by the donee after the time that is 60 months before the particular time, or(ii)the individual or any person or partnership with which the individual does not deal at arm’s length uses property of the donee under an agreement that was made or modified after the time that is 60 months before the particular time, and the property was not used in the carrying on of the donee’s charitable activities,
(a)an obligation (other than an obligation of a financial institution to repay an amount deposited with the institution or an obligation listed on a designated stock exchange) of the individual or the individual’s estate or of any person or partnership with which the individual or the estate does not deal at arm’s length immediately after that time;(b)a share (other than a share listed on a designated stock exchange) of the capital stock of a corporation with which the individual or the estate or, where the individual is a trust, a person affiliated with the trust, does not deal at arm’s length immediately after that time;(b.1)a beneficial interest of the individual or the estate in a trust that(i)immediately after that time is affiliated with the individual or the estate, or(ii)holds, immediately after that time, a non-qualifying security of the individual or estate, or held, at or before that time, a share described in paragraph (b) that is, after that time, held by the donee; or(c)any other security (other than a security listed on a designated stock exchange) issued by the individual or the estate or by any person or partnership with which the individ-ual or the estate does not deal at arm’s length (or, in the case where the person is a trust, with which the individual or estate is affiliated) immediately after that time.
(i)immediately after that time is affiliated with the individual or the estate, or(ii)holds, immediately after that time, a non-qualifying security of the individual or estate, or held, at or before that time, a share described in paragraph (b) that is, after that time, held by the donee; or
(a)the security is a share;(b)the donee is not a private foundation;(c)either,(i)if the taxpayer is an individual’s graduated rate estate,(A)the individual dealt at arm’s length with the donee immediately before the individual’s death, and(B)the graduated rate estate deals at arm’s length with the donee (determined without reference to paragraph 251(1)(b)), or(ii)if subparagraph (i) does not apply, the taxpayer deals at arm’s length with the donee; and(d)where the donee is a charitable organization or a public foundation, the taxpayer deals at arm’s length with each director, trustee, officer and like official of the donee.
(i)if the taxpayer is an individual’s graduated rate estate,(A)the individual dealt at arm’s length with the donee immediately before the individual’s death, and(B)the graduated rate estate deals at arm’s length with the donee (determined without reference to paragraph 251(1)(b)), or(ii)if subparagraph (i) does not apply, the taxpayer deals at arm’s length with the donee; and
(A)the individual dealt at arm’s length with the donee immediately before the individual’s death, and(B)the graduated rate estate deals at arm’s length with the donee (determined without reference to paragraph 251(1)(b)), or
(a)a member of the Canadian Payments Association; or(b)a credit union that is a shareholder or member of a body corporate or organization that is a central for the purposes of theCanadian Payments Act.
(a)an option to acquire a property of an individual is granted to a qualified donee;(b)the option is exercised so that the property is disposed of by the individual and acquired by the qualified donee at a particular time; and(c)either(i)the amount that is 80% of the fair market value of the property at the particular time is greater than or equal to the total of(A)the consideration received by the individual from the qualified donee for the property, and(B)the consideration received by the individual from the qualified donee for the option, or(ii)the individual establishes to the satisfaction of the Minister that the granting of the option or the disposition of the property was made by the individual with the intention to make a gift to the qualified donee.
(i)the amount that is 80% of the fair market value of the property at the particular time is greater than or equal to the total of(A)the consideration received by the individual from the qualified donee for the property, and(B)the consideration received by the individual from the qualified donee for the option, or(ii)the individual establishes to the satisfaction of the Minister that the granting of the option or the disposition of the property was made by the individual with the intention to make a gift to the qualified donee.
(A)the consideration received by the individual from the qualified donee for the property, and(B)the consideration received by the individual from the qualified donee for the option, or
(a)the individual is deemed to have received proceeds of disposition of the property equal to the property’s fair market value at the particular time; and(b)there shall be included in the individual’s total charitable gifts, for the taxation year that includes the particular time, the amount by which the property’s fair market value exceeds the total described in subparagraph (22)(c)(i).
(a)the individual is deemed to have disposed of a property at the particular time(i)the adjusted cost base of which to the individual immediately before the particular time is equal to the consideration, if any, paid by the qualified donee for the option, and(ii)the proceeds of disposition of which are equal to the lesser of the fair market value of the particular property at the particular time and the fair market value of any consideration (other than a non-qualifying security of any person) received by the qualified donee for the option; and(b)there shall be included in the total charitable gifts of the individual for the individual’s taxation year that includes the particular time the amount, if any, by which the proceeds of disposition as determined by paragraph (a) exceed the consideration, if any, paid by the donee for the option.
(i)the adjusted cost base of which to the individual immediately before the particular time is equal to the consideration, if any, paid by the qualified donee for the option, and(ii)the proceeds of disposition of which are equal to the lesser of the fair market value of the particular property at the particular time and the fair market value of any consideration (other than a non-qualifying security of any person) received by the qualified donee for the option; and
(a)the original property is later transferred to the individual (unless that later transfer is reasonable consideration or remuneration for property acquired by or services rendered to a person); or(b)any other property that may reasonably be considered compensation for or a substitute for, in whole or in part, the original property, is later transferred to the individual.
(a)irrespective of whether the transfer of the original property by the individual to the qualified donee referred to in subsection (25) was a gift, the individual is deemed not to have disposed of the original property at the time of that transfer nor to have made a gift;(b)if the particular property is identical to the original property, the particular property is deemed to be the original property; and(c)if the particular property is not the original property, then(i)the individual is deemed to have disposed of the original property at the time that the particular property is transferred to the individual for proceeds of disposition equal to the greater of the fair market value of the particular property at that time and the fair market value of the original property at the time that it was transferred by the individual to the donee, and(ii)if the transfer of the original property by the individual would be a gift if this section were read without reference to paragraph (a), the individual is deemed to have, at the time of that transfer, transferred to the donee a property that is the subject of a gift having a fair market value equal to the amount, if any, by which the fair market value of the original property at the time of that transfer exceeds the fair market value of the particular property at the time that it is transferred to the individual.
(i)the individual is deemed to have disposed of the original property at the time that the particular property is transferred to the individual for proceeds of disposition equal to the greater of the fair market value of the particular property at that time and the fair market value of the original property at the time that it was transferred by the individual to the donee, and(ii)if the transfer of the original property by the individual would be a gift if this section were read without reference to paragraph (a), the individual is deemed to have, at the time of that transfer, transferred to the donee a property that is the subject of a gift having a fair market value equal to the amount, if any, by which the fair market value of the original property at the time of that transfer exceeds the fair market value of the particular property at the time that it is transferred to the individual.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]R.S., 1985, c. 1 (5th Supp.), s. 118.11994, c. 7, Sch