Topic:"Income Tax Act" in M12451

e amount of the installments, a refund is received after the Company files its tax return. Lead days for Income Tax payments were determined based on expected tax installments and true-up payments. 5 HST is not reflected on charges related...

AI summary The text outlines the timing and process for tax payments and refunds, including Income Tax, HST, and GST. It explains how lead days are calculated based on payment schedules and refund timelines, particularly for ITC refunds, which impact the net lead-lag days for HST and GST payments.

SUMMARY SOMMAIRE Part 1 implements certain measures in respect of the Income Tax La partie 1 met en œuvre certaines mesures relatives à la Loi de Act and the Income Tax Regulations by l’impôt sur le revenu et au Règlement de l’impôt sur le...

AI summary Part 1 implements measures related to the Income Tax Act and Regulations, including limiting the deductibility of net interest and financing expenses for certain corporations and trusts, and implementing hybrid mismatch rules to prevent cross-border tax avoidance.

sur le revenu et de textes connexes R.S., c. 1 (5th Supp.) L.R., ch. 1 (5e suppl.) Income Tax Act Loi de l’impôt sur le revenu 2 (1) Subsection 12(1) of the Income Tax Act is 2 (1) Le paragraphe 12(1) de la Loi de l’impôt sur amended by ad...

AI summary The Income Tax Act is being amended to modify subsection 12(1) by adding a formula related to partnership interest and financing expenses. The amendment introduces a calculation involving amounts determined under paragraph (h) of the definition of interest and financing expenses.

on interest and de l’élément A dans la définition de dépenses d’intérêts et de financement au paragraphe 2021-2022-2023-2024 1 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 20 of 546 Chapter 15: Fall Economic Statement...

AI summary The text references amendments to the Income Tax Act and related legislation under the Fall Economic Statement Implementation Act, 2023. It includes a section reference (Section 2) and mentions a chapter and year (70-71 Eliz. II – 1-2 Cha. III).

onnexes Income Tax Act Loi de l’impôt sur le revenu Section 2 Article 2 financing expenses in subsection 18.2(1) in re- 18.2(1) relativement au contribuable pour l’année spect of the taxpayer for the taxation year, and d’imposition; B is B...

AI summary This text discusses provisions of the Income Tax Act, specifically section 2, which deals with financing expenses in relation to taxpayers for the taxation year. It outlines different scenarios for calculating the proportion of expenses based on whether the taxpayer is an excluded entity or not.

tion de fraction non amortie du coût en capital au paragraphe 13(21) ou l’élément L de la formule figu- rant à la définition de frais cumulatifs d’exploration au Canada au paragraphe 66.1(6); (4) Paragraph 12(1)(t) of the Act, as enacted b...

AI summary The document outlines amendments to the Income Tax Act and other legislation, including changes to the investment tax credit and related provisions, as part of the Fall Economic Statement Implementation Act, 2023.

onnexes Income Tax Act Loi de l’impôt sur le revenu Section 2 Article 2 year in computing the taxpayer’s tax payable for a pre- d’imposition antérieure au titre d’un bien acquis ou ceding taxation year to the extent that it was not in- d’u...

AI summary This text is an excerpt from the Income Tax Act, specifically Section 2, which discusses the calculation of a taxpayer’s tax payable for a preceding taxation year, including the inclusion of certain amounts not previously accounted for in income calculations.

exes Income Tax Act Loi de l’impôt sur le revenu Sections 3-4 Articles 3-4 subsection 12.7(3) of the Act, as enacted by sub- Toutefois, le paragraphe 12.7(3) de la même loi, section (1), does not apply to the portion of a pay- édicté par l...

AI summary This text discusses amendments to the Income Tax Act, specifically subsection 12.7(3) and subsection 13(7.1), regarding the application of certain tax provisions related to notional interest expenses and payments arising from specific subsections of the Act.

ment, ou sous toute autre forme, à l’exception des sommes et montants suivants : (3) Paragraph 13(7.1)(e) of the Act is replaced by (3) L’alinéa 13(7.1)e) de la même loi est remplacé the following: par ce qui suit : (e) where the property...

AI summary The text outlines a modification to the Income Tax Act, specifically replacing a subsection related to deductions for property acquired before a particular time. The change affects the application of subsections 127(5), (6), and 127.44(3) for taxation years ending before a specified time.

this section 18.2 (1) Les définitions qui suivent s’appliquent au pré- and section 18.21. sent article et à l’article 18.21. absorbed capacity of a taxpayer for a taxation year administration du secteur public Sa Majesté du chef means the...

AI summary This text outlines sections from the Income Tax Act and related legislation, including amendments to the Fall Economic Statement Implementation Act, 2023. It discusses absorbed capacity of a taxpayer for a taxation year and other administrative provisions.

(b) the amount determined by the formula université (chacun s’entendant au sens du paragraphe A − (B + C) 123(1) de la Loi sur la taxe d’accise). (public sector au- thority) where A is the taxpayer’s interest and financing expenses année d...

AI summary The text outlines a formula for determining a taxpayer's interest and financing expenses, referencing specific subsections of the Excise Tax Act and the taxation year of an affiliated foreign-controlled company. It includes provisions for excluded leases under paragraph 16.1(1).

adjusted taxable income of a taxpayer for a taxation (i) soit ne serait pas considéré, au moment de la year means the amount determined by the formula conclusion du bail, comme ayant une juste valeur A+B−C marchande supérieure à 25 000 $ p...

AI summary The text defines adjusted taxable income for a taxation year, specifying the formula and conditions for determining the amount, including considerations related to leased assets and their market value.

111(1)(a.1)), and pacité absorbée du contribuable pour l’année était (b) in any other case, the taxpayer’s taxable nulle, income for the year (determined without re- b) la somme obtenue par la formule suivante : gard to subsection (2), par...

AI summary The text discusses provisions related to taxable income and calculations involving interest and financing expenses, referencing specific subsections and paragraphs of the Income Tax Act. It outlines formulas for determining certain financial values based on a taxpayer's income and expenses.

nexes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7

AI summary The text references the Income Tax Act, specifically Section 7 (Article 7 in French), indicating a legal provision related to taxation.

is the total of all amounts (subject to paragraph (k), D représente le ratio des dépenses admissibles other than an amount that can reasonably be consid- du contribuable pour l’année, ered to be in respect of exempt interest and financing...

AI summary The text outlines a formula for calculating a taxpayer's interest and financing expenses, including adjustments for exempt interest and financing expenses, and references various sections of the Income Tax Act.

I le moindre des montants suivants : (c) an amount deducted by the taxpayer in com- (i) l’excédent des revenus d’intérêts et puting its income for the year under subsection de financement du contribuable pour 20(16), other than any portion...

AI summary The text outlines amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023, focusing on adjustments to interest and financing expenses deductions.

onnexes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7 (d) in respect of the income or loss of a partner- (A) si le revenu imposable rajusté ship, for a fiscal period that ends in the year, from du contribuable pour l’anné...

AI summary The text provides a section from the Income Tax Act, specifically Section 7, which outlines the calculation of income or loss for a partnership in a fiscal period ending in a particular year, using the formula F×G−H.

est un montant de capacité transférée du contri- tion year of the taxpayer, buable dans l’année de transfert (appelé « mon- (f) an amount deducted by the taxpayer under tant total de capacité transférée » dans la pré- paragraph 110(1)(k) i...

AI summary The text outlines various amounts deducted by the taxpayer under different subsections of the Income Tax Act, including paragraph 110(1)(k), subsection 104(6), and others, with specific considerations for designated portions and calculations involving transferred capacity.

r les I is the amount deducted by the taxpayer under années antérieures à l’année de transfert, paragraph 111(1)(a) in computing its taxable income for the year, in respect of the taxpay- er’s non-capital loss (other than a specified 2021-...

AI summary The text references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes a reference to Section 7 of the Income Tax Act and mentions the Loi de l’impôt sur le revenu.

Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7

AI summary This document references the Income Tax Act, specifically Section 7, which is also known in French as Article 7. The text does not provide additional context or discussion beyond citing this section of the legislation.

contribuable pour une année pertinente donnée its taxable income for the taxpayer doit être réduite, correspond au moindre de : loss year, (I) la capacité excédentaire du contribuable X is the total of all amounts, each of pour l’année per...

AI summary The text outlines the calculation of taxable income for a taxpayer in a loss year, focusing on the excess capacity and reductions applied to it. It references specific paragraphs and sections of the Income Tax Act that determine how excess capacity is calculated and adjusted.

f lative unused excess capacity) Y as the “affiliate”) that, at the end of the affiliate taxation 2021-2022-2023-2024 12 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 31 of 546 Chapter 15: Fall Economic Statement Imple...

AI summary This text discusses amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It references Section 7 of the Income Tax Act and its corresponding French translation.

2) ou 66.7(1), (2), (2.3), which the taxpayer or a controlled foreign affiliate (3), (4) ou (5), of the taxpayer is a member at any time, at the 2021-2022-2023-2024 13 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 32 o...

AI summary The text references amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes sections and chapter references, as well as French translations of the titles.

xes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7

AI summary The document references the Income Tax Act, Section 7 (Article 7 in French), indicating a legal provision related to taxation.

ancement ou de ably be considered to be incurred by the taxpayer l’emprunt ou de l’autre financement) du contri- or the partnership in respect of activities funded buable ou d’une personne ou société de per- by a borrowing (within the mean...

AI summary The text refers to amendments to the Income Tax Act and other legislation, specifically in Chapter 15 of the Fall Economic Statement Implementation Act, 2023. It discusses changes related to the definition of exempt interest and financing expenses, and how these affect taxpayers and partnerships.

ntion « contribuable » était P is the taxpayer’s specified proportion, if the remplacée par la mention « société de per- references in the definition specified sonnes », 2021-2022-2023-2024 15 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-...

AI summary This text references amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes references to the Income Tax Act and its section 7.

à la perte to- payable under this Part if those amounts were tale » dans la définition de proportion déter- determined without reference to sections 123.3 minée au paragraphe 248(1) étaient rempla- and 123.4, or cées respectivement par les...

AI summary The text outlines specific calculations and adjustments related to tax determinations, including deductions, revenue, and loss calculations under certain sections of the Income Tax Act. It discusses formulas and factors used in determining taxable amounts for trusts and other entities.

la an entity that is a controlled foreign affiliate of société affiliée, the taxpayer at the end of the affiliate taxation year, 2021-2022-2023-2024 16 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 35 of 546 Chapter 15...

AI summary This text references amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Section 7 of the Income Tax Act.

de personnes, pour un exercice se terminant dans (I) the taxpayer’s excess capacity for the par- l’année donnée, tiré d’une source quelconque ou ticular relevant year, determined taking into 2021-2022-2023-2024 17 70-71 Eliz. II – 1-2 Cha....

AI summary The text references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Article 7 of the Loi de l’impôt sur le revenu.

ociété affi- sorbed capacity to the taxpayer’s excess ca- liée, chaque montant visé aux sous-alinéas 95(2)f)(i) ou pacity for the relevant years preceding the (ii), si : particular relevant year. (capacité excéden- taire cumulative inutili...

AI summary This text references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes specific sections related to tax provisions and their implementation.

ich the interest interest and financing expenses) and financing revenues of the taxpayer for the year exceed the interest and 2021-2022-2023-2024 19 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 38 of 546 Chapter 15: F...

AI summary The text references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Article 7 of the Loi de l’impôt sur le revenu.

contribuable donné pour l’année d’impo- an eligible group entity in respect of the tax- sition donnée, payer or a foreign affiliate of a partnership of 2021-2022-2023-2024 21 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Pa...

AI summary The text includes a mix of French and English legal terminology, referencing the Income Tax Act and a Fall Economic Statement Implementation Act from 2023. It also includes chapter and page numbers, indicating a legal or regulatory document.

be considered to be held, directly or indirectly placée par « les revenus d’intérêts et de finan- through one or more trusts or partnerships, by cement », non-resident persons, if the property of the part- (ii) les revenus d’intérêts et de...

AI summary The text discusses legal provisions related to the ownership and taxation of shares and partnerships, particularly concerning non-resident persons and the exclusion of certain income types from taxation.

blissement du bilan du contribuable ou de l’entité admissible du groupe si ce bilan était 2021-2022-2023-2024 22 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 41 of 546 Chapter 15: Fall Economic Statement Implementatio...

AI summary This text refers to amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes a reference to Section 7 of the Income Tax Act.

h member of the payer (other than another partnership), (I) si le contribuable ou l’entité admissible du and groupe à l’égard du contribuable est une so- ciété, les actions, ou le droit d’acquérir des 2021-2022-2023-2024 23 70-71 Eliz. II...

AI summary This text references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Article 7 of the Loi de l’impôt sur le revenu.

entity) term of more than one year for purposes of paragraph (b) of the definition specified leasing property in fiducie commerciale à participation fixe Fiducie rési- subsection 1100(1.11) of the Income Tax Regulations; dant au Canada qui...

AI summary The text outlines conditions related to fixed interest commercial trusts under the Income Tax Regulations, specifying requirements for the fair market value of property and exemptions applicable to such trusts.

property for purposes of au paragraphe 94(1) est remplie. (fixed interest com- mercial trust) 2021-2022-2023-2024 24 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 43 of 546 Chapter 15: Fall Economic Statement Implement...

AI summary This text references amendments to the Income Tax Act and related legislation, specifically subsection 1100(1.13) of the Income Tax Regulations, which excludes bail from certain tax considerations. The context involves legal and regulatory changes related to tax policy.

Tax Regula- indifférent relativement à l’impôt Personne ou société tions. (bail exclu) de personnes qui est, selon le cas :

AI summary The text discusses tax regulations, specifically excluding leases, and refers to the Income Tax Act in relation to individuals or companies. It outlines the scope of the regulations and the applicability of the Income Tax Act.

n group entity) if, throughout the year, du groupe d’institutions financières; (a) the fair market value of the capital stock of the cor- d) tout au long de la période pertinente et au moment poration is primarily attributable to any combi...

AI summary The text discusses amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It outlines changes related to the fair market value of capital stock and the attribution of value to shares or indebtedness of entities.

qui est applicable : portfolio management, investment advice, fund ad- ministration or fund management, including any (A) au payeur pour son année, 2021-2022-2023-2024 26 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 4...

AI summary The text references amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Section 7 of the Income Tax Act.

services connected to those activities, in respect of (B) au bénéficiaire pour son année, real estate; or (C) si le payeur ou le bénéficiaire est une société (g) a particular entity (other than a financial holding de personnes, à tout asso...

AI summary The text outlines provisions related to tax obligations, focusing on the distribution of income and interests between affiliated entities, particularly in the context of Canadian tax law. It describes scenarios involving real estate, particular entities, and the conditions under which interests are considered relevant.

(b) any of the conditions set out in clauses (h)(ii)(A) (ii) d’un contribuable qui est une entité admissible to (C) in the definition exempt foreign trust in sub- du groupe relativement au contribuable; section 94(1) is met. (fiducie comme...

AI summary The text defines terms related to foreign accrual property losses and interest and financing expenses for a taxpayer in a particular taxation year, referencing the Income Tax Regulations and specific conditions related to exempt foreign trusts.

ent où le bail ductible (other than under a provision referred donné a commencé et le principal correspond à la to in subparagraph (c)(i)) by the taxpayer in juste valeur marchande du bien à ce moment qui est computing its income for the p...

AI summary The text discusses amendments to the Income Tax Act and related legislation, specifically under Section 7 of the Fall Economic Statement Implementation Act, 2023. It references the Income Tax Act and its modifications, including provisions related to deductible amounts and interest calculations.

(iii) is not described in any other paragraph in rembourser au taux établi conformément à l’article this definition, 4302 du Règlement de l’impôt sur le revenu en vigueur au moment visé à l’alinéa a); (b) an amount that, in the absence of...

AI summary The text discusses tax deductions under specific provisions of the Income Tax Act, focusing on scenarios where amounts are not described in other paragraphs and the conditions under which they may be deductible. It references the Income Tax Regulation and outlines the calculation of principal and interest payments.

t, in the absence of this section, would be deductible in computing the taxpay- perte antérieure au régime déterminée À l’égard d’un er’s income for the particular year and is contribuable pour une année d’imposition, s’entend des claimed...

AI summary The text discusses the deductibility of certain amounts in computing a taxpayer's income for a particular year, specifically referencing provisions of the Income Tax Act and conditions under which losses can be claimed, including the requirement for written choices submitted to the minister.

capital loss, reduce the l’égard d’une société étrangère affiliée pour une année amount determined under paragraph 3(b) in d’imposition de la société affiliée, a le sens que lui respect of the taxpayer or be deductible in confère le paragr...

AI summary This text outlines provisions related to capital loss and foreign accrual property loss under the Income Tax Act, including specific references to regulations and legal frameworks. It also mentions amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023.

le 1er octobre 2023 ou après, et avant le 1er janvier ment that gives rise to, or can reasonably be ex- 2024, 40 %, sauf lorsqu’il s’agit de déterminer sa capa- pected to give rise to, an amount that cité excédentaire cumulative inutilisée...

AI summary The text discusses provisions related to interest and financing expenses for taxation years starting on or after January 1, 2024, specifying that 40% of such expenses are generally deductible, except in certain cases where 30% applies. It outlines conditions for deductibility and references a formula for calculation.

toute somme sur une créance due par une autre amount that personne ou société de personnes qui sont inclus 2021-2022-2023-2024 29 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 48 of 546 Chapter 15: Fall Economic Statem...

AI summary This text refers to amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Section 7 of the Income Tax Act.

nexes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7

AI summary The text references the Income Tax Act, specifically Section 7 (Article 7 in French), indicating a legal provision related to taxation.

cice, et qui serait visée aux alinéas a) à e) si la mention « contribuable » était remplacée G is the affiliate’s relevant affiliate interest and par la mention « société de personnes », financing expenses for the affiliate taxation year,...

AI summary The text outlines amendments to the Income Tax Act and related legislation, specifically addressing changes to the definition of 'contribuable' and its replacement with 'société de personnes' in certain provisions. It also references the Fall Economic Statement Implementation Act, 2023.

la société affiliée pour l’année d’imposition de under subsection 212(1), or la société affiliée; (b) in respect of the income or loss of a partner- B le total des sommes dont chacune représente : ship, for a fiscal period that ends in the...

AI summary This text outlines amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes provisions related to affiliated companies and the determination of amounts based on specific formulas.

nt that is included in computing the taxpayer’s income for the year because of subsec- H×I tion 12(9) or section 17.1 (other than any amount où : described in any other paragraph in this defini- H représente une somme qui serait visée à l’...

AI summary The text discusses the inclusion of certain amounts in computing a taxpayer's income, including fees related to guarantees and credit support, under specific subsections of the Income Tax Act. It outlines conditions under which these amounts are included or excluded.

nt received or receivable (other than source ou de la source dans un endroit as a dividend) by the taxpayer, or a gain of the tax- donné, pour l’exercice », payer, as the case may be, under or as a result of an agreement or arrangement, if...

AI summary The text discusses amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It references the Income Tax Act and includes section numbers and legal terminology related to tax regulations.

nexes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7

AI summary The text references the Income Tax Act, specifically Section 7 (Article 7 in French), indicating a legal provision related to taxation.

f)(i) ou D is the taxpayer’s specified proportion, if the (ii), si la division 95(2)f.11)(ii)(A) était lue sans la men- references in the definition specified propor- tion du paragraphe 18.2(2). (relevant affiliate interest tion in subsect...

AI summary The text references amendments to the Income Tax Act and other legislation, specifically in Chapter 15 of the Fall Economic Statement Implementation Act, 2023. It discusses provisions related to the taxpayer’s specified proportion and adjusted taxable income.

l’année d’imposition de la société affi- liée sur ses revenus d’intérêts et de 2021-2022-2023-2024 34 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 53 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023...

AI summary This text references the Income Tax Act and its amendments under the Fall Economic Statement Implementation Act, 2023. It includes a section heading and a reference to a chapter and year in a legal document.

H×I de la société affiliée pertinentes de la so- ciété affiliée pour l’année d’imposition de where la société affiliée; H is an amount that would be described in para- B le total des sommes (sauf, sous réserve de l’alinéa k), graph (a) if...

AI summary The text discusses the calculation of an amount (H) based on a paragraph describing the taxpayer's income, adjusted to refer to the partnership instead. It also references the taxpayer's specified proportion (I) and various tax-related provisions, such as deductions under specific paragraphs of the Income Tax Act.

de dépenses d’intérêts et de financement, lease financing amount means an amount that is the portion of a particular payment in respect of a particular 2021-2022-2023-2024 35 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Pa...

AI summary This text references the Income Tax Act and its amendments under the Fall Economic Statement Implementation Act, 2023. It outlines legislative changes related to income tax and other legislation, with specific reference to Section 7 of the Income Tax Act.

lease entered into by a taxpayer that would be considered G la proportion déterminée du contribuable si to be on account of interest if les mentions « du revenu total ou de la perte totale » et « au revenu total ou à la perte to- (a) the l...

AI summary The text outlines conditions under which a lease payment may be considered as interest for tax purposes, specifying scenarios involving loans, interest rates, and the calculation of taxable income.

étrangère affiliée contrôlée (ii) a taxpayer that is an eligible group entity in re- d’une société de personnes dont spect of the taxpayer; and le contribuable ou une société étrangère affiliée contrôlée du 2021-2022-2023-2024 37 70-71 Eli...

AI summary The text appears to be a legal document related to tax legislation, specifically referencing amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes references to tax-related terms and legal sections.

e étrangère accumulée, relative à des biens de la société affiliée pour l’année de perte de la société affiliée; 2021-2022-2023-2024 39 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 58 of 546 Chapter 15: Fall Economic...

AI summary The text appears to be a legal or regulatory document containing French and English content, including references to tax legislation and amendments, specifically under the Income Tax Act and related laws. It also includes page numbers and chapter references, suggesting it is part of a larger legal proceeding or document.

r l’année en vertu de l’alinéa 12(1)x), (iii) elle serait incluse dans le calcul du revenu du contribuable pour l’année en vertu de l’ali- néa 12(1)x), si cet alinéa s’appliquait compte non tenu de ses sous-alinéas (vi) et (vii); C le tota...

AI summary The text discusses amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes references to sections and chapters related to tax calculations and revenue adjustments.

de la présente partie si elles étaient détermi- nées compte non tenu de l’article 123.4, par le facteur de référence pour l’année; f) dans le cas d’une fiducie, la somme obtenue par la formule suivante : Q × (1 ÷ (R × S)) où : Q représente...

AI summary The text contains legal provisions related to the calculation of deductions under the Income Tax Act, including a formula involving factors Q, R, and S. It also references legislative amendments and economic statements, though the context is unclear.

reciation (as defined in subsection 13(21)) accordé pour les biens d’une catégorie pres- 13(21)) allowed for property of a prescribed class; crite; 2021-2022-2023-2024 44 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 6...

AI summary This text outlines amendments to the Income Tax Act, including deductions under subsection 66(4), cumulative Canadian exploration and development expenses as defined in subsections 66.1(6) and 66.2(5). These provisions are part of the Fall Economic Statement Implementation Act, 2023.

ent expense d) les frais cumulatifs d’aménagement au Canada (as defined in subsection 66.2(5)); (au sens du paragraphe 66.2(5)); (e) the cumulative foreign resource expense (as de- e) les frais cumulatifs relatifs à des ressources à fined...

AI summary The text outlines various cumulative expense categories under Canadian tax regulations, including foreign resource expenses, Canadian oil and gas property expenses, and deductions under specific subsections of the Income Tax Act.

(i) une entité du groupe d’institutions financières, (iii) a special purpose loss corporation; (ii) une société de portefeuille financière, (d) the election or amended election (iii) une société à usage déterminé ayant subi des pertes; 202...

AI summary The text discusses amendments to the Income Tax Act and other legislation as part of the Chapter 15: Fall Economic Statement Implementation Act, 2023. It outlines modifications to the Income Tax Act under Section 7.

(i) specifies the amount of the transferred capacity, d) le choix ou le choix modifié : and (i) précise le montant de capacité transférée, (ii) is filed with the Minister by the transferor (ii) est présenté au ministre par le cédant : (A)...

AI summary The text outlines procedures for filing transferred capacity information with the Minister, specifying deadlines related to taxation years and notices of assessment under the Income Tax Act.

ity, (i) une entité du groupe d’institutions finan- and cières, B is the total of all amounts, each of which would, in (ii) une société à usage déterminé ayant subi the absence of this paragraph, be an amount that des pertes, si la somme d...

AI summary The text discusses amendments to the Income Tax Act and other legislation, specifically in Section 7 of the Income Tax Act. It includes references to the Fall Economic Statement Implementation Act, 2023, and mentions a chapter and page number from a legal document.

taxation year, C≥D (ii) is paid or payable to a financial holding cor- où : poration, C représente le total des sommes dont chacune re- (iii) meets the conditions set out in paragraphs présente une somme qui, à la fois : (a) to (d) of the...

AI summary The text outlines conditions for determining taxable amounts related to financial holding corporations, including requirements for deductible amounts and payments to financial institutions. It references the Income Tax Act and specific conditions for excluded interest.

: in respect of a prior election for the taxation year of the transferor or transferee, or (i) soit les conditions ci-après sont remplies : (ii) the Minister grants permission to amend the (A) en l’absence d’une cotisation, la condition de...

AI summary The text discusses amendments to the Income Tax Act and related legislation, including provisions regarding elections, information returns, and conditions for amendments. It references the Fall Economic Statement Implementation Act, 2023, and outlines specific requirements for tax years and filings.

née civile, par un autre cessionnaire qui est une entité feree’s taxation year. admissible du groupe relativement au cessionnaire donné à la fin de l’année d’imposition de l’autre ces- sionnaire. 2021-2022-2023-2024 48 70-71 Eliz. II – 1-2...

AI summary The text refers to amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It discusses tax-related provisions and their implications for taxation years and entities within a group.

her trans- dans l’année civile; feree described in paragraph (6)(b), to designate un- der this paragraph the designated filer to be a desig- b) le contribuable fait le choix conjoint, avec chaque nated filer in respect of the taxpayer and...

AI summary The text outlines procedures for designating a taxpayer as a designated filer in a calendar year, as well as the assessment or reassessment of taxes, interest, or penalties under the Income Tax Act following an election or amended election.

ibuable donné est réputé ne pas être, ne pas être de- a financial institution group entity or a financial holding venu, ou ne pas demeurer, selon le cas, une entité admis- corporation, as the case may be, at that time. sible du groupe rela...

AI summary The text discusses amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes provisions related to financial institutions, benefits conferred, and other legal considerations.

onnexes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7 have been conferred on the transferee as a consequence avantage n’est considéré comme ayant été conféré au ces- of the election. sionnaire du fait qu’il a produit le c...

AI summary The text refers to the Income Tax Act, Section 7, discussing the transfer of advantages as a consequence of an election made by the transferee.

ses d’intérêts et de financement dans le cal- definition interest and financing revenues, or cul du revenu ou de la perte du contribuable pour une the description of A in the definition interest année d’imposition et, selon le cas : and fi...

AI summary The text discusses the definition and treatment of interest and financing revenues and expenses in the calculation of a taxpayer's income or loss, including conditions for deductibility and the inclusion of amounts in specific formula elements.

(B) est déductible dans le calcul du revenu ou de la perte pour une année d’imposition du contri- (A) would have been included in computing the buable ou d’une personne ou société de per- income or loss for a taxation year (other than as s...

AI summary This text discusses amendments to the Income Tax Act and related legislation as part of the Fall Economic Statement Implementation Act, 2023, focusing on the deductibility of certain items in the computation of taxable income.

onnexes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7 (B) would not have been included under the de- (ii) il est raisonnable de considérer que, en l’ab- scription of A in the definition interest and fi- sence de l’opérati...

AI summary This text discusses provisions of the Income Tax Act, specifically Section 7, which addresses the inclusion of certain amounts in the calculation of a taxpayer's income or loss, particularly in relation to transactions between related parties.

. sont réputés être des entités admissibles du groupe les uns à l’égard des autres. Eligible group entities — related Entités admissibles du groupe — liées (16) For the purposes of paragraph (a) of the definition (16) Pour l’application de...

AI summary The text outlines amendments to the Income Tax Act, specifically modifying the definition of eligible group entities, and references the Fall Economic Statement Implementation Act, 2023. It discusses how a reference to a trust does not include the trustee or other controlling parties.

sent paragraphe) et de la société affiliée bénéficiaire pour une année d’imposition de la société affiliée (appelée 2021-2022-2023-2024 53 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 72 of 546 Chapter 15: Fall Econom...

AI summary The text discusses amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It references Section 7 of the Income Tax Act and its corresponding French translation, Article 7.

xes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7

AI summary The document references the Income Tax Act, Section 7 (Article 7 in French), indicating a legal provision related to taxation.

iate year, où : H is the amount determined for E, and 2021-2022-2023-2024 54 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 73 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023 Chapitre 15 : Loi d’exéc...

AI summary The text includes a mix of legal and regulatory content, including a reference to the Fall Economic Statement Implementation Act, 2023, and a section from the Income Tax Act. It contains a mix of French and English text, including legal terminology and chapter numbers.

J les revenus d’intérêts déterminés du groupe pour equity interest means la période, (a) a share of the capital stock of a corporation; K si un choix est fait en vertu du paragraphe (4) et que le montant de la juste valeur net pour la pé-...

AI summary The text includes definitions related to equity interest and references to amendments to the Income Tax Act and other legislation, specifically in Chapter 15 of the Fall Economic Statement Implementation Act, 2023.

val- B le total des montants représentant chacun le mon- ue amount, and tant d’un dividende pris en compte dans la 2021-2022-2023-2024 57 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 76 of 546 Chapter 15: Fall Economi...

AI summary The text references the Income Tax Act and its amendments as part of the Fall Economic Statement Implementation Act, 2023. It includes a section reference (Section 7) and mentions the legislative changes in both English and French.

onnexes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7 (e) an expense, charge, deduction or loss that détermination d’une somme visée à l’un des alinéas is similar to any of those referred to in para- a) à d) de l’élément...

AI summary This text outlines a provision from the Income Tax Act, specifically Section 7, which addresses the treatment of certain expenses, charges, deductions, or losses similar to those referenced in paragraphs (a) to (d), and defines the calculation for the consolidated group's net interest expenses.

quelles des états financiers consolidés sont tenus d’être A is the amount determined by the formula établis aux fins de présentation de l’information 2021-2022-2023-2024 58 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page...

AI summary The text discusses amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It references Section 7 of the Income Tax Act and includes a French translation of the title.

financial statements of a consolidated group a) a un lien de dépendance avec un membre du are presented. (période pertinente) groupe; specified interest expense, of a consolidated group for b) seule ou avec d’autres personnes ou sociétés d...

AI summary The text discusses financial statements of a consolidated group, focusing on interest expense calculations and references the Income Tax Act and related legislation, including the Fall Economic Statement Implementation Act, 2023.

tant de revenus d’intérêts qui entre lar entity an interest that is described in paragraph dans le calcul des montants déclarés dans les états (b). (mère ultime) 2021-2022-2023-2024 61 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attac...

AI summary The text references the Income Tax Act and its amendments under the Fall Economic Statement Implementation Act, 2023. It includes a section number and a reference to a legislative chapter and page.

f the taxpayer on or be- canadien du groupe pour chaque année d’imposi- fore tion pertinente, (A) the latest filing-due date of a Canadian (ii) est présenté au ministre par le contribuable ou group member for a relevant taxation year, or u...

AI summary The text discusses amendments to the Income Tax Act and other legislation, specifically focusing on notices of assessment under Part 7 of the Income Tax Act. It outlines the timing for submission of tax notices by Canadian group members for relevant taxation years.

choix antérieur fait par les membres canadiens du groupe pour une année d’imposition perti- nente en vertu du présent paragraphe, 2021-2022-2023-2024 63 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 82 of 546 Chapter 1...

AI summary This text discusses amendments to the Income Tax Act, specifically Section 7, which refers to the non-application of paragraph 18.2(9) to a tax benefit related to a previous choice for the relevant period, and the minister's authority to modify the choice under paragraph (3).

née d’imposition pertinente, chaque membre canadien du groupe est réputé avoir ainsi fait le choix au cours 2021-2022-2023-2024 64 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 83 of 546 Chapter 15: Fall Economic State...

AI summary The text refers to the Income Tax Act and its amendments under the Fall Economic Statement Implementation Act, 2023, particularly in Section 7, which discusses the relevant tax year and subsequent years.

de cette année d’imposition et des années d’imposition subséquentes. Assessment Cotisation (5) If an election or amended election has been made un- (5) En cas de choix ou de choix modifié fait en vertu du der subsection (2), the Minister s...

AI summary The text discusses the assessment of taxes, interest, or penalties under the Income Tax Act, stating that the Minister may reassess these amounts for any relevant taxation year to ensure the proper application of an election or amended election made under subsection (2).

de l’élément E figurant à la définition de dépenses nettes d’intérêts du groupe au paragraphe (1). 2021-2022-2023-2024 65 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 84 of 546 Chapter 15: Fall Economic Statement Impl...

AI summary This text refers to amendments to the Income Tax Act, specifically section 7, which applies to taxation years of a taxpayer beginning on or after October 1, 2023. The text is part of the Fall Economic Statement Implementation Act, 2023.

(a) sections 18.2 and 18.21 of the Act, as enacted a) les articles 18.2 et 18.21 de la même loi, édic- by subsection (1), also apply in respect of a tax- tés par le paragraphe (1), s’appliquent aussi ation year of a taxpayer that begins be...

AI summary The text discusses provisions of the Act related to taxation years that begin before and end after October 1, 2023, under sections 18.2 and 18.21. It outlines conditions for the application of these sections, particularly when a taxpayer's prior taxation years were affected by specific transactions or events.

des objets de l’opération, de l’événement ou tion (1), or the application of paragraph de la série était de reporter l’application des 12(1)(l.2) of the Act, as enacted by subsection articles 18.2 ou 18.21 de la même loi, édictés 2(1), to...

AI summary The text discusses modifications to the application of certain provisions of the Act, specifically paragraph 12(1)(l.2) and subsection 18.2(1), including adjustments to the permissible expenses ratio from 40% to 30% under specific conditions related to taxation years and transactions.

cumulative inutilisée d’un contribuable qui est of the taxpayer in respect of which subsection une société ou une fiducie commerciale à par- (1) applies (in this paragraph and paragraph ticipation fixe pour une année d’imposition (d) refer...

AI summary The text discusses amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It references the Income Tax Act and outlines modifications related to the cumulative unused amount of a taxpayer and their excess capacity for a given taxation year.

te fin, and any other taxation year in which the tax- payer’s ratio of permissible expenses is the (B) mentionnent, pour le contribuable et same as in the particular year, the taxpayer’s chaque entité admissible du groupe anté- excess capa...

AI summary The text discusses amendments to the Income Tax Act and other legislation, specifically referencing the Fall Economic Statement Implementation Act, 2023. It includes sections related to taxation years and permissible expenses, with references to legal terminology and provisions.

onnexes Income Tax Act Loi de l’impôt sur le revenu Section 7 Article 7 (i) for the purposes of this paragraph, the excédentaire nette (au sens du sous-alinéa determination of whether a corporation or a d)(v)) pour les années antérieures a...

AI summary This text outlines provisions from the Income Tax Act, specifically Section 7, which addresses the determination of excess interest for corporations and fixed interest commercial trusts in relation to eligible pre-regime group entities. It discusses the calculation of excess interest and the determination of unused cumulative excess capacity.

(iii) the excess capacity otherwise determined (i) pour l’application du présent alinéa, la means the amount that would be the excess question de savoir si une société ou une fi- capacity of the taxpayer or an eligible pre- ducie commercia...

AI summary This text outlines the determination of excess capacity and excess interest for a taxpayer or eligible pre-regime group entity, considering loss restriction events and the application of the Income Tax Act.

fait lié à er than a taxpayer or eligible pre-regime la restriction de pertes au début de l’une de group entity that is, at any time in a pre- ses années antérieures au régime, sa capaci- regime year, a financial institution group té excéd...

AI summary The text references amendments to the Income Tax Act and other legislation, specifically in Part 7 of the Fall Economic Statement Implementation Act, 2023. It discusses provisions related to tax exemptions and financial institution groups, though the content is incomplete and appears to be a legal or regulatory excerpt.

té excédentaire déterminée par ailleurs du (A) the ratio of permissible expenses is contribuable ou d’une entité admissible du the same as the taxpayer’s ratio of per- groupe antérieure au régime relativement missible expenses for the part...

AI summary The text discusses the calculation of permissible expenses ratios for taxpayers and eligible pre-regime group entities, referencing the Income Tax Act and the conditions outlined in subsection 18.21(2). It refers to the filing due date for Canadian group members and how it applies to consolidated groups.

e que, relativement à une an- der paragraph (c), and née antérieure au régime, les conditions 2021-2022-2023-2024 69 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 88 of 546 Chapter 15: Fall Economic Statement Implement...

AI summary The text refers to amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It specifically mentions Section 7 of the Income Tax Act.

r (B) le total des montants représentant chacun une partie de la capacité 2021-2022-2023-2024 70 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 89 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023 Chap...

AI summary The text references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes a section from the Income Tax Act, specifically Article 7, and mentions the chapter and year of the legislation.

or any fois : other similar criterion; (i) est une société étrangère affiliée contrôlée : 2021-2022-2023-2024 74 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 93 of 546 Chapter 15: Fall Economic Statement Implementatio...

AI summary This text contains legal provisions related to income tax and corporate dividends, including references to shareholders, partnerships, and trust beneficiaries. It is part of the Fall Economic Statement Implementation Act, 2023, and discusses amendments to the Income Tax Act.

oncurrence avec d’autres entités qui, à (III) if the affiliate is related to a corporation, la fois : another country under the laws of which the 2021-2022-2023-2024 75 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 94...

AI summary This text contains a mix of legal and regulatory language, including references to the Fall Economic Statement Implementation Act, 2023, and mentions of amendments to the Income Tax Act and other legislation. It appears to be part of a larger legal or regulatory document, likely in French and English.

onnexes Income Tax Act Loi de l’impôt sur le revenu Section 8 Article 8 income or profits of the entity, but no such period may quelconque ou de sources situées dans un endroit exceed 53 weeks. (année d’imposition étrangère) donné, pour l’...

AI summary This text is an excerpt from the Income Tax Act, specifically Section 8, which discusses the treatment of hybrid mismatch amounts in respect of payments arising under hybrid financial instrument arrangements.

H le pourcentage de participation total (au rules in subsection (17), sens du paragraphe 91(1.3)) du contribuable 2021-2022-2023-2024 79 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 98 of 546 Chapter 15: Fall Economic...

AI summary The text references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Article 8 of the Income Tax Act.

ment au paiement si celui-ci ne découlait pas d’un dis- ment; positif structuré ou ne s’y rapportait pas; (b) at the time that the taxpayer entered into, or ac- b) au moment où le contribuable conclut l’opération, quired an interest in any...

AI summary The text discusses provisions related to the Income Tax Act, specifically addressing structured arrangements and the expectation of awareness regarding deduction/non-inclusion mismatches arising from payments. It outlines conditions under which certain entities may not be expected to be aware of such mismatches.

expected to be C représente le total des sommes dont chacune — deductible, in respect of the payment, in com- (compte non tenu de toute règle étrangère de res- puting relevant foreign income or profits of an en- triction des dépenses) sera...

AI summary The text discusses amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It outlines provisions related to deductible amounts in the context of foreign income or profits and references the Income Tax Act and other legislative changes.

(A) lorsque la valeur de l’élément B de la mined for A, nil, and formule figurant à l’alinéa (6)a) relativement 2021-2022-2023-2024 84 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 103 of 546 Chapter 15: Fall Economic...

AI summary The text references the Income Tax Act and its amendments under the Fall Economic Statement Implementation Act, 2023. It includes a section heading related to modifications to the Income Tax Act and other legislation, specifically Article 8.

Notional interest expense — deemed payment Dépenses en intérêts théoriques — paiement réputé (9) For the purposes of this section (other than this sub- (9) Pour l’application du présent article (à l’exception du section) and section 12.7,...

AI summary This text outlines the rules regarding notional interest expense and deemed payments for tax purposes. It specifies that, in the absence of foreign expense restrictions, an entity is deemed to make a payment equal to the deductible amount to its creditor, and the creditor is deemed to receive the payment.

la dépense en intérêts théorique, est réputé découler from the payment is deemed to satisfy the condition in du paiement; paragraph (10)(d). 2021-2022-2023-2024 85 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 104 of 5...

AI summary The text outlines the conditions under which a payment is deemed to satisfy the requirements of a hybrid financial instrument arrangement under the Income Tax Act, specifically referencing section 8, article 8, and paragraph (10)(d).

inclusion découlant du paiement qui remplit la condi- subparagraph (10)(d)(i) or (ii); tion énoncée aux sous-alinéas (10)d)(i) ou (ii); 2021-2022-2023-2024 86 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 105 of 546 Ch...

AI summary The text discusses a legal provision related to the Income Tax Act, specifically addressing the deduction component of a mismatch in the context of hybrid financial instruments and payments. It outlines how the deduction component is determined in relation to a payment.

on/non-inclusion se produit (ou se produirait ticular payment under the transferred instrument, compte non tenu de toute raison expliquant l’asymé- trie, sauf celles décrites aux sous-alinéas (i) et (ii)), en tout ou en partie, car : 2021-...

AI summary The text discusses amendments to the Income Tax Act and other legislation as part of the Chapter 15: Fall Economic Statement Implementation Act, 2023. It references legal and fiscal changes, though specific details are not provided in the excerpt.

ant, de nent of the hybrid transfer arrangement in respect of l’asymétrie de déduction/non-inclusion est la the payment; and 2021-2022-2023-2024 88 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 107 of 546 Chapter 15: F...

AI summary This text discusses a provision related to the Income Tax Act, specifically addressing the foreign deduction component of a hybrid transfer arrangement in relation to a payment. It outlines the mismatch between deduction and non-inclusion in the context of international tax arrangements.

lati- (ii) the payment arises under, or in connection vement au cessionnaire, with, a structured arrangement; (ii) le paiement découle d’un dispositif structuré ou (f) the payment s’y rapporte; 2021-2022-2023-2024 89 70-71 Eliz. II – 1-2 C...

AI summary The text includes provisions related to structured arrangements and references to the Income Tax Act and other legislation, specifically in Chapter 15 of the Fall Economic Statement Implementation Act, 2023.

it (A) an amount in respect of the underlying re- remplie si le cessionnaire était le bénéficiaire du turn or distribution, as the case may be, would 2021-2022-2023-2024 90 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page...

AI summary The text discusses provisions related to the Income Tax Act, specifically Section 8, which deals with the determination of foreign or Canadian ordinary income in the context of a transferor's underlying return or distribution, and the conditions under which such income may arise under a hybrid mismatch arrangement.

(14)f)(i) s’applique, déterminé selon l’hypothèse énoncée à ce sous-alinéa, 2021-2022-2023-2024 91 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 110 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023 C...

AI summary The text outlines a provision related to the Income Tax Act, specifying conditions under which certain assumptions apply, particularly in relation to subsection (14)(f)(ii).

of the substitute payment arrange- de paiement par substitution relativement au paie- ment in respect of the payment; and ment; (d) if the condition in subparagraph (14)(f)(ii) is met d) si la condition énoncée au sous-alinéa (14)f)(ii) es...

AI summary This text outlines provisions related to the substitution payment and its implications for deductible amounts under specific conditions, referencing subsections and articles of the Income Tax Act.

b) de la dé- of partnerships or any other entity, are deemed to finition de bénéficiaire déterminé à ce para- be immediate and absolute and to have been exer- graphe, ou qui sont des droits similaires relative- cised at that time, and ment...

AI summary This text includes a mix of legal and regulatory content, including references to the Income Tax Act and a Fall Economic Statement Implementation Act from 2023. It also contains French legal terminology and a section number related to income tax legislation.

toute asymétrie de déduction/non-inclusion ou un autre résultat qui est substantiellement semblable à une 2021-2022-2023-2024 93 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 112 of 546 Chapter 15: Fall Economic Statem...

AI summary The text discusses an asymmetry in deduction/non-inclusion mismatch arising from a payment under the Income Tax Act. It outlines conditions related to the mismatch and refers to the Fall Economic Statement Implementation Act, 2023.

h, arising from a pay- asymétrie de déduction/non-inclusion, découlant d’un ment if paiement si, à la fois :

AI summary The text discusses a tax-related issue involving an asymmetry of deduction or non-inclusion arising from a payment under specific conditions.

(3) L’alinéa 18.4(3)a) de la même loi, édicté par le subsection (1), is replaced by the following: paragraphe (1), est remplacé par ce qui suit : 2021-2022-2023-2024 94 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 113...

AI summary This text outlines a modification to the Income Tax Act, specifically section 8, which addresses the deductibility of payments in the absence of certain subsections. The amendment is part of the Fall Economic Statement Implementation Act, 2023.

ment au paiement pour l’application des paragraphes (3) et (4) et de l’article 12.7. (7) Subsection (1) applies in respect of payments (7) Le paragraphe (1) s’applique relativement aux arising on or after July 1, 2022, except that subsec-...

AI summary The text outlines the application dates for subsections related to payments and taxation years under the Income Tax Act, specifying that certain provisions apply from July 1, 2022, and others from July 1, 2023.

s (2) à (6) s’appliquent relati- tion years of a taxpayer that begin on or after vement aux années d’imposition d’un 2021-2022-2023-2024 95 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 114 of 546 Chapter 15: Fall Econ...

AI summary This text references amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes sections 8-9 of the Income Tax Act and mentions the Income Tax Act as part of the legislative changes.

es Income Tax Act Loi de l’impôt sur le revenu Sections 8-9 Articles 8-9

AI summary The document references the Income Tax Act, specifically Sections 8-9 (Articles 8-9 in French), indicating a legal or regulatory context involving tax provisions.

October 1, 2023. However, subsections (2) to (6) al- contribuable commençant après septembre 2023. so apply in respect of a taxation year of a taxpay- Toutefois, ils s’appliquent aussi relativement à er that begins before, and ends after,...

AI summary The text discusses provisions of the Income Tax Act related to taxation years that begin before and end after October 1, 2023, with specific conditions for the application of subsections (2) to (6) in such cases.

(2) Le paragraphe (1) s’applique relativement aux arising on or after July 1, 2022. paiements se produisant après le 30 juin 2022. 2021-2022-2023-2024 96 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 115 of 546 Chapter...

AI summary This text outlines amendments to the Income Tax Act, specifically modifying subparagraph 40(1)(a)(iii) of the Act. The changes apply to payments occurring after June 30, 2022, and are part of the Fall Economic Statement Implementation Act, 2023.

lause (A) is replaced by the fol- même loi précédant la division (A) est remplacé lowing: par ce qui suit : (iii) subject to subsections (1.1) to (1.3), such (iii) sous réserve des paragraphes (1.1) à (1.3), le amount as the taxpayer may c...

AI summary The text outlines amendments to a legal provision, specifically replacing a clause and modifying a section of an act by adding new content after a subsection. The changes pertain to tax claims and deductions, particularly for individuals and other entities.

lective des employés et qui est contrôlée par celle-ci, conformément à un transfert admissible d’entreprise. (3) Subsections (1) and (2) apply in respect of (3) Les paragraphes (1) et (2) s’appliquent aux transactions that occur on or afte...

AI summary This text amends the Income Tax Act, specifically subsection 53(1)(e)(xiii), to include amounts required by subsection 127(30) or section 211.92 to be added to a taxpayer's tax otherwise payable under the Act for a taxation year that ended before a certain time in respect of the interest in the partnership.

s’étant terminée avant ce moment relativement à la participation dans la société de personnes; 2021-2022-2023-2024 97 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 116 of 546 Chapter 15: Fall Economic Statement Impleme...

AI summary The text discusses amendments to the Income Tax Act, specifically modifying Subparagraph 53(1)(e)(xiii). This amendment is part of the Fall Economic Statement Implementation Act, 2023, and relates to changes in tax legislation.

d to have (6) Les paragraphes (2) et (4) sont réputés être come into force on March 28, 2023. entrés en vigueur le 28 mars 2023. 12 (1) Paragraphs (f.1) and (g) of the definition 12 (1) Les alinéas f.1) et g) de la définition de so- princi...

AI summary This text outlines amendments to the Income Tax Act and other legislation, specifically modifying the definition of a principal-business corporation to include the production or marketing of certain minerals and compounds, effective March 28, 2023.

Income Tax Act Loi de l’impôt sur le revenu Sections 12-13 Articles 12-13 (g) the manufacturing of products, where the manu- g) la fabrication de produits nécessitant le traitement facturing involves the processing of calcium chloride, du...

AI summary This text outlines amendments to the Income Tax Act, specifically sections 12-13 and 66, which include provisions related to the manufacturing of products involving specific materials and the definition of Canadian exploration and development expenses, with a focus on lithium brine wells.

(c.2) any expense, or portion of any expense, that is c.2) toute dépense ou partie de dépense, ne représen- not a Canadian exploration expense, incurred by the tant pas des frais d’exploration au Canada, engagée taxpayer after March 20, 20...

AI summary The text outlines specific expenses that are not considered Canadian exploration expenses under the Income Tax Act, including those related to bringing a new mine into production, excluding bituminous sands and oil shale deposits, and expenses for clearing and drilling related to lithium extraction from brines.

forage de puits pour l’extraction de lithium à partir de the capital cost of depreciable property) incurred by saumures; the taxpayer after 1987 2021-2022-2023-2024 99 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 118...

AI summary The text includes a mix of French and English legal terminology, referencing amendments to the Income Tax Act and other legislation, specifically in Chapter 15 of the Fall Economic Statement Implementation Act, 2023. It also includes a section heading in French and English.

ncome Tax Act Loi de l’impôt sur le revenu Sections 13-15 Articles 13-15 (i) in sinking or excavating a mine shaft, main d) une dépense (à l’exclusion d’un montant inclus haulage way or similar underground work designed dans le coût en cap...

AI summary The text references sections 13-15 of the Income Tax Act, discussing expenses related to mining activities such as sinking mine shafts, extending haulage ways, and drilling wells for lithium extraction from brines in Canada after a mine comes into production.

have come into (3) Le paragraphe (1) est réputé être entré en vi- force on January 1, 2022. gueur le 1 janvier 2022. (4) Subsection (2) is deemed to have come into (4) Le paragraphe (2) est réputé être entré en vi- force on March 28, 2023....

AI summary The text outlines amendments to the Income Tax Act and other legislation, specifically detailing when certain provisions came into force, including January 1, 2022, and March 28, 2023. It also references a replacement of a portion of the definition of commercial debt obligation.

ncome Tax Act Loi de l’impôt sur le revenu Sections 15-17 Articles 15-17 an amount in respect of the interest was or would have créance commerciale Créance émise par un débiteur et been deductible in computing the debtor’s income, tax- sur...

AI summary The text outlines amendments to the Income Tax Act, specifically sections 15-17 and 80.4(3), relating to the deductibility of interest and the application of tax rules for years beginning on or after October 1, 2023. The changes address commercial debts and the calculation of taxable income.

(iv) un enfant d’une nièce ou d’un neveu visé aux sous-alinéas (i) ou (ii); 2021-2022-2023-2024 101 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 120 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023...

AI summary The text is a legal provision related to the Income Tax Act, specifically addressing the application of certain tax rules to partnership entities, where the partnership is deemed to be a corporation for the purposes of specific tax provisions.

sés : (i) subparagraph (2.31)(f)(i) have disposed of, or caused the disposition of, any of the shares in the (i) au sous-alinéa (2.31)f)(i), ont disposé ou ont capital stock of the purchaser corporation, the sub- donné lieu à la dispositio...

AI summary The text contains legal provisions related to the Income Tax Act and other legislation, specifically addressing the disposition of shares in a corporation and the conditions under which such dispositions are deemed to occur. The text is part of the Fall Economic Statement Implementation Act, 2023.

phs (2.31)(g) and (2.32)(h), activités de l’entreprise, mais n’inclut pas la prestation management refers to the direction or supervision of de conseils. 2021-2022-2023-2024 104 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2...

AI summary The text includes legal provisions related to the definition of business activities, excluding the provision of advice, and references to the Fall Economic Statement Implementation Act, 2023.

s, other than conjoint de fait, ne possède pas, directement ou indi- shares of a specified class as defined in subsection rectement, selon le cas : 2021-2022-2023-2024 105 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page...

AI summary The text provides a legal reference to the Income Tax Act and its amendments under the Fall Economic Statement Implementation Act, 2023. It includes a section reference (Section 17) and mentions a chapter and page number from a legal document.

treprise pertinente de la société en cause et de toute be, entité pertinente du groupe; 2021-2022-2023-2024 106 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 125 of 546 Chapter 15: Fall Economic Statement Implementatio...

AI summary This text discusses amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It outlines procedures for jointly electing the application of paragraph (2)(e) in respect of the disposition of subject shares and filing the election with the Minister by the taxpayer's filing-due date.

« entreprise pertinente » au présent paragraphe) graph (b)(iii); qui est pertinente pour déterminer si les actions 2021-2022-2023-2024 107 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 126 of 546 Chapter 15: Fall Econo...

AI summary The document references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes a section titled 'Section 17' under the Income Tax Act.

visées au sous-alinéa (i)), des intérêts (y compris des dettes ou participations) dans la société en 2021-2022-2023-2024 108 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 127 of 546 Chapter 15: Fall Economic Statement...

AI summary The text refers to amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Section 17 of the Income Tax Act.

(h) subject to subsection (2.3), within 60 months of the (iii) chaque entreprise pertinente de la société en disposition time or such greater period as is reason- cause et de toute entité pertinente du groupe est ex- able in the circumstan...

AI summary The text outlines requirements for transferring management of relevant businesses of a subject corporation and its group entities to a child or group of children, within 60 months of a disposition or a longer period deemed reasonable, as part of a tax-related regulation.

contribuable pour l’année d’imposition qui com- prend le moment de la disposition. 2021-2022-2023-2024 109 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 128 of 546 Chapter 15: Fall Economic Statement Implementation Act...

AI summary The text outlines amendments to the Income Tax Act related to the disposition of shares effective from January 1, 2024, modifying paragraph 87(2)(j.6) of the Act.

he same tion au Canada au paragraphe 66.1(6), la nouvelle so- corporation as, and a continuation of, each predeces- ciété est réputée être la même société que chaque so- sor corporation; ciété remplacée et en être la continuation; (2) Subs...

AI summary This text discusses amendments to subsection 87(2) of the Act, including the addition of paragraph (qq.1) which deems a new corporation to be the same as and a continuation of each predecessor corporation for the purposes of investment tax credits under section 127.44 and Part XII.7.

(3) L’alinéa 87(2)qq.1) de la même loi, édicté par by subsection (2), is replaced by the following: le paragraphe (2), est remplacé par ce qui suit : Certain investment tax credits Certains crédits d’impôt à l’investissement (qq.1) for the...

AI summary This text outlines amendments to the Income Tax Act, specifically replacing subsections related to investment tax credits and the determination of losses for new corporations. The changes pertain to how losses are calculated and attributed for tax purposes.

nouvelle société, selon le cas, pour une année d’impo- sition; (5) Subsection 87(2.1) of the Act is amended by (5) Le paragraphe 87(2.1) de la même loi est modi- adding the following after paragraph (a): fié par adjonction, après l’alinéa...

AI summary This text discusses amendments to the Income Tax Act, specifically subsection 87(2.1), which introduces a new provision for determining a new corporation's absorbed, excess, and transferred capacity in calculating its unused excess capacity for a taxation year.

ion year, and capacité excédentaire cumulative inutilisée pour une année d’imposition; (6) Paragraph 87(2.1)(b) of the Act is replaced by (6) L’alinéa 87(2.1)b) de la même loi est remplacé the following: par ce qui suit : (b) determining t...

AI summary This text outlines amendments to the Income Tax Act, specifically replacing paragraphs 87(2.1)(b) and 87(2.1)(d) to modify how certain losses and expenses are treated for tax purposes, particularly focusing on the deductibility of non-capital losses, net capital losses, and restricted farm losses.

tion if it may rea- donnée et en être la continuation s’il est raisonnable de sonably be considered that considérer que, à la fois : (a) the amount deducted is in respect of all or any a) la somme déduite est au titre de la totalité ou d’u...

AI summary The text outlines provisions related to the deduction of non-capital losses for a particular predecessor corporation in another taxation year, with specific conditions for the application of these deductions. It also states that subsection (1) comes into force on January 1, 2024.

(9) Le paragraphe (1) entre en vigueur ou est ré- to have come into force on January 1, 2024. puté être entré en vigueur le 1er janvier 2024. 2021-2022-2023-2024 111 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 130 of...

AI summary This text outlines the effective dates of various subsections of the Income Tax Act, including amendments that came into force on January 1, 2022, March 28, 2023, and October 1, 2023, as part of the Fall Economic Statement Implementation Act, 2023.

(2) L’alinéa 88(1)e.31) de la même loi, édicté par subsection (1), is replaced by the following: le paragraphe (1), est remplacé par ce qui suit : (e.31) for the purposes of sections 127.44 and 127.45 e.31) pour l’application des articles...

AI summary This text amends subsection 88(1)e.31) and subsection 88(1.1) of a law, modifying the treatment of a parent company and subsidiary after the subsidiary's liquidation for tax purposes.

ph (a) is replaced by the following: loi précédant l’alinéa a) est remplacé par ce qui suit :

AI summary The text provides a partial translation of a legal provision, replacing a section with new content. It references a legislative change, likely related to tax regulations, but does not provide full context or discussion of the implications.

xation partie et de l’impôt payable par elle en vertu de la partie year commencing after the commencement of the wind- IV pour toute année d’imposition commençant après le ing-up, such portion of any non-capital loss, restricted début de l...

AI summary The text discusses amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes provisions related to tax adjustments for losses and other financial considerations.

referred to as the “subsidiary’s loss business”) and any considérer comme résultant de l’exploitation d’une entre- other portion of any non-capital loss or limited partner- prise donnée (appelée « entreprise déficitaire de la fi- ship loss...

AI summary The text discusses the allocation of losses and expenses of a subsidiary, distinguishing between losses derived from a particular business and those from other sources, particularly in relation to the Income Tax Act and specific taxation years.

business”) and any pour une année d’imposition de celle-ci (appelée « année other portion of the restricted interest and financing ex- de dépenses de la filiale » au présent paragraphe), qu’il pense of the subsidiary that may reasonably be...

AI summary This text outlines a legal provision regarding the allocation of restricted interest and financing expenses of a subsidiary. It specifies how portions of these expenses should be attributed to different sources and defines the applicable sections of the Act.

d’une autre fraction d’une dépense may reasonably be regarded as being incurred in re- d’intérêts et de financement restreinte de la filiale qu’il spect of any other source, be deemed, for the taxation est raisonnable de considérer comme e...

AI summary This text discusses amendments to the Income Tax Act and related legislation, specifically addressing the treatment of restricted interest and financing expenses incurred by subsidiaries and their impact on the parent company's taxation year. The text is part of the Fall Economic Statement Implementation Act, 2023.

es Income Tax Act Loi de l’impôt sur le revenu Section 19 Article 19 parent in computing its taxable income for any taxa- société mère engagée relativement à cette autre source tion year that commenced before the commencement et qui n’étai...

AI summary This text provides a bilingual excerpt from the Income Tax Act, specifically Section 19, which addresses the calculation of taxable income for a parent company in relation to another source of income, and includes a replacement clause for a portion of paragraph 88(1.1)(e) of the Act.

egarded as being the sub- cole de la filiale qu’il est raisonnable de considérer sidiary’s expense or loss incurred in the course of car- comme résultant de l’exploitation d’une entreprise, ou rying on a business and, where a business was...

AI summary The text discusses the deductibility of certain expenses and losses of a subsidiary under the Income Tax Act, specifically relating to amounts deductible under paragraph 110(1)(k) when computing taxable income.

” at the end of paragraph (f) and by fié par adjonction, après l’alinéa f), de ce qui adding the following after that paragraph: suit : (g) any portion of a restricted interest and financing g) toute partie d’une dépense d’intérêts et de f...

AI summary This text discusses amendments to the Income Tax Act and other legislation, specifically under Section 19 of the Fall Economic Statement Implementation Act, 2023. It includes a French translation of the text and references to legal documents.

es Income Tax Act Loi de l’impôt sur le revenu Section 19 Article 19 deemed by paragraph (d.2) or (d.3) to be a restricted réputée, par les alinéas d.2) ou d.3), être une dépense interest and financing expense of the parent for a par- d’in...

AI summary This section of the Income Tax Act outlines how certain expenses are treated for tax purposes when a company undergoes liquidation. Specifically, it addresses the deemed treatment of restricted interest and financing expenses for the parent company in the years following the commencement of the winding-up process.

de l’alinéa h) de l’élément B de la formule figurant à la non-capital loss in computing the parent’s adjusted tax- définition de revenu imposable rajusté au paragraphe able income for the particular taxation year, any amount 18.2(1) relati...

AI summary The text discusses the treatment of non-capital losses in the context of adjusted taxable income for a parent company, referencing specific sections and subsections of the Income Tax Act related to the calculation of adjusted taxable income and the source of the loss.

source d’où est tirée la partie donnée (et toute somme ré- putée par le présent paragraphe être une somme de la 2021-2022-2023-2024 115 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 134 of 546 Chapter 15: Fall Economic...

AI summary This text discusses amendments to the Income Tax Act, specifically modifying paragraph 88(2)(c) of the Act. It outlines how amounts related to a source are deemed to be amounts of the parent company for the parent loss year.

or L in the defi- ment I de la formule figurant à la définition de frac- nition cumulative Canadian exploration expense in tion non amortie du coût en capital au paragraphe subsection 66.1(6);”. 13(21) ou l’élément L de la formule figurant...

AI summary The text contains legal provisions related to Canadian exploration expenses and amendments to paragraph 88(2)(c) of the Act. It references the definition of cumulative Canadian exploration expenses and the replacement of a paragraph in the Act.

(c) for the purpose of computing the income of the c) pour le calcul du revenu de la société pour son an- corporation for its taxation year that includes the par- née d’imposition qui comprend le moment donné, ticular time, paragraph 12(1)...

AI summary The text modifies paragraph 12(1)(t) of the Income Tax Act to adjust how certain deductions are calculated for a corporation's taxation year, specifically addressing amounts deducted under subsections 127(5) or (6), 127.44(3) or 127.45(6).

st in subsection 13(21) or L ment I de la formule figurant à la définition de frac- in the definition cumulative Canadian exploration tion non amortie du coût en capital au paragraphe expense in subsection 66.1(6);”. 13(21) ou l’élément L...

AI summary This text outlines amendments to the Income Tax Act and other legislation, with specific subsections coming into force on January 1, 2022, and March 28, 2023. It references the Fall Economic Statement Implementation Act, 2023, and includes French and English versions of the content.

ncome Tax Act Loi de l’impôt sur le revenu Sections 19-21 Articles 19-21 (14) Subsections (3) to (8) apply in respect of (14) Les paragraphes (3) à (8) s’appliquent relati- windings-up that begin on or after October 1, vement aux liquidati...

AI summary The text discusses amendments to the Income Tax Act, specifically sections 19-21, which address the application of subsections related to windings-up and liquidations beginning on or after October 1, 2023, and in any taxation year. It also outlines a replacement for paragraph (a) of the description of D in the definition of low rate income pool.

oit au cours de l’année donnée mais avant le moment donné, (b) in the preceding taxation year, but only to the extent of the lesser of b) soit au cours de l’année d’imposition précé- dente, mais seulement jusqu’à concurrence du (i) the amo...

AI summary The text outlines provisions related to the calculation of taxable dividends and their impact on low rate income pools, specifically for taxation years beginning on or after April 7, 2022. It discusses the inclusion of amounts under description D and the portion of taxable dividends that did not reduce the non-CCPC's low rate income pool in the preceding taxation year.

or after April 7, 2022. années d’imposition commençant à compter du 7 avril 2022. 21 (1) The portion of subsection 91(1.2) of the Act 21 (1) Le passage du paragraphe 91(1.2) de la before paragraph (a) is replaced by the follow- même loi pr...

AI summary The text discusses amendments to the Income Tax Act and other legislation, specifically focusing on sections 21 and 22, which are part of the Fall Economic Statement Implementation Act, 2023. The amendment affects the tax years beginning after April 7, 2022.

ncome Tax Act Loi de l’impôt sur le revenu Sections 21-22 Articles 21-22 Deemed year-end Présomption de fin d’année (1.2) If this subsection applies at a particular time in re- (1.2) En cas d’application du présent paragraphe à un spect of...

AI summary The text discusses provisions of the Income Tax Act, specifically sections 21-22, focusing on the deemed year-end rule for foreign affiliates of Canadian taxpayers, including applicable sections and clauses.

règles ci-après s’appliquent au présent article, aux ar- ticles 18.2 et 92 et à la division 95(2)f.11)(ii)(D) :

AI summary The text outlines the application of specific rules to certain articles and sections, indicating a regulatory or legislative context involving provisions related to tax or legal matters.

(a) there shall be added in respect of that share any a) est ajoutée relativement à l’action toute somme qui amount included in respect of that share under sub- est incluse relativement à l’action, en application des section 91(1) or (3) i...

AI summary The text outlines the inclusion of amounts related to a share in the calculation of a taxpayer's income, referencing specific sections of the Income Tax Act and other legislative provisions. It discusses adjustments based on the application of certain clauses and their impact on the amount included.

unt that would have been so in- qui aurait été ainsi incluse en l’absence de cette divi- cluded in the absence of that clause; and sion; (2) Subsection (1) applies in respect of a taxation (2) Le paragraphe (1) s’applique relativement à ye...

AI summary This text discusses amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It includes provisions related to taxation years of foreign affiliates and references to specific sections of the Income Tax Act.

affiliate of a taxpayer that ends in a taxation year s’applique aussi relativement à une année d’im- of the taxpayer that begins before, and ends af- position d’une société affiliée d’un contribuable ter, October 1, 2023 if qui se termine...

AI summary The text discusses the application of tax rules related to an affiliate of a taxpayer whose taxation year ends after October 1, 2023, and includes conditions for the deferral of tax provisions based on specific transactions or events.

(2) Subsection (1) applies in respect of taxation (2) Le paragraphe (1) s’applique relativement aux years of a taxpayer that begin on or after October années d’imposition d’un contribuable commen- 1, 2023. However, subsection (1) also appl...

AI summary This text outlines the application of a subsection related to taxation years for taxpayers beginning on or after October 1, 2023, with specific conditions for years that begin before and end after this date. It references the Income Tax Act and outlines scenarios where the application of a particular provision may be deferred.

objets de l’opération, de l’événement ou de la 12(1)(l.2) of the Act, as enacted by subsection série était de reporter l’application de l’alinéa 2(1), or the application of section 18.2 or 18.21 of 12(1)l.2) de la même loi, édicté par le p...

AI summary The text outlines amendments to the Income Tax Act and other legislation under Chapter 15 of the Fall Economic Statement Implementation Act, 2023. It references specific sections and subsections of the Act, including subsection 12(1)(l.2) and section 18.21.

18.21 de la même loi, édictés par le paragraphe 7(1), au contribuable. 24 (1) Paragraph (b) of the description of A in 24 (1) L’alinéa b) de l’élément A de la formule fi- the definition foreign accrual property income in gurant à la défini...

AI summary This text outlines a legal amendment to the definition of foreign accrual property income, specifically modifying the portion related to dividends from other foreign affiliates of the taxpayer, with exceptions based on residency in Canada.

(2) Paragraph (a) of the description of H in the (2) L’alinéa a) de l’élément H de la formule figu- definition foreign accrual property income in sub- rant à la définition de revenu étranger accumulé, ti- section 95(1) of the Act is replac...

AI summary This text amends the definition of foreign accrual property income in subsection 95(1) of the Act, specifically paragraph (a), by replacing it with a new provision that refers to a taxpayer resident in Canada instead of a corporation resident in Canada for the purposes of sections 93 and 113.

dividende qui, à la fois : (i) is included in the value determined for A in re- (i) est incluse dans la valeur de l’élément A relative- spect of the affiliate for the year and that would be, ment à la société affiliée pour l’année et qui s...

AI summary This text discusses the inclusion of a dividend in the value determined for an affiliate under Canadian tax law, specifically referencing subsections 93.1(2) and 113(5) of the Income Tax Act. It outlines conditions under which the dividend is considered received by the affiliate and how it is treated for tax purposes.

partnership and for that purpose subsection terminé selon l’article 91 et la part de ce revenu 96(1) is to be applied to determine the foreign 2021-2022-2023-2024 120 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 139 o...

AI summary This text discusses amendments to the Income Tax Act, particularly in section 24, relating to the determination of an affiliate's share of income or loss from a partnership, referencing subsection 96(1). It also mentions the replacement of clause 95(2)(f.11)(ii)(A) as enacted by subsection (3).

la société affiliée pertinentes (au sens du mined by the first formula in subsection paragraphe 18.2(1)) de la société affiliée pour 18.2(2) in respect of the taxpayer for the tax- l’année d’imposition, jusqu’à concurrence de payer year, a...

AI summary The text discusses amendments to the Income Tax Act and related legislation, specifically referencing Section 24 of the Income Tax Act and the Fall Economic Statement Implementation Act, 2023. It includes a reference to a formula under subsection 18.2(2) and mentions the years 2021-2024 and 2026-2027.

(II) subsection 12.7(3) is deemed not to apply (II) le paragraphe 12.7(3) est réputé ne pas in respect of the payment if s’appliquer relativement au paiement si, selon le cas : 1 the foreign affiliate’s income or loss de- rived from the pa...

AI summary The text discusses the application of subsection 12.7(3) in relation to payments to foreign affiliates, stating that it does not apply in two specific scenarios: when the affiliate's income or loss from the payment is included in the computation of income from an active business, or when the payment is deemed to be made under subsection 18.4(9) regarding a notional interest expense on a particular debt.

« (ii) la somme est visée aux alinéas b) ou c) de read as follows: l’élément A de la formule figurant à la définition de 2021-2022-2023-2024 124 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 143 of 546 Chapter 15: Fall...

AI summary The text references amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes sections 24-25 of the Income Tax Act and mentions the Loi de l’impôt sur le revenu.

ncome Tax Act Loi de l’impôt sur le revenu Sections 24-25 Articles 24-25 “D is the total of all amounts, each of which is an revenu étranger accumulé, tiré de biens au para- amount, in respect of the payment, that is included in graphe 95(...

AI summary The text outlines amendments to sections 24-25 of the Income Tax Act, specifically modifying the definition of 'foreign accrual property income' and updating the applicability of subsections (1) and (2) to dividends received on or after July 1, 2024.

pérations ou d’événements, plus courte qu’elle (b) it can reasonably be considered that one of ne l’aurait été en l’absence de cette opération, the purposes of the transaction, event or series de cet événement ou de cette série; was to def...

AI summary The text discusses provisions related to the deferral of tax application under specific circumstances, referencing the Income Tax Act and its amendments, with the application of these provisions effective from July 1, 2024.

n pour le CUSC (au sens du paragraphe 127.44(1)) 127.44(1)) of the taxpayer for the taxation year, du contribuable pour l’année, (2) Subparagraph 96(2.1)(b)(ii) of the Act, as en- (2) Le sous-alinéa 96(2.1)b)(ii) de la même loi, acted by s...

AI summary This text outlines amendments to subsections of the Income Tax Act related to the calculation of investment tax credits, specifically addressing the addition of amounts determined under subsections 127(8), 127.44(11), or 127.45(8) for partnerships and taxpayers in relation to the CCUS tax credit and clean technology investment tax credit.

n (3), loi précédant l’alinéa a), édicté par le paragraphe is replaced by the following: (3), est remplacé par ce qui suit : At-risk amount Fraction à risques d’un intérêt dans une société de personnes (2.2) For the purposes of this sectio...

AI summary The text provides a legal amendment to a section of the Income Tax Act, specifically modifying the definition of the at-risk amount for a limited partner in a partnership. The changes are outlined in subsections (2.2) and (5), replacing previous provisions with new language.

at pation exonérée au sens du paragraphe (2.5) et si, à ce time or within three years after that time, moment ou dans les trois ans suivants : 2021-2022-2023-2024 126 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 145 o...

AI summary This text outlines amendments to the Income Tax Act, specifically modifying subsection 96(2.4) as enacted by subsection (5). The changes pertain to the portion of the subsection before paragraph (a).

n (5), loi précédant l’alinéa a), édicté par le paragraphe is replaced by the following: (5), est remplacé par ce qui suit : Limited partner Commanditaire (2.4) For the purposes of this section and sections 111, (2.4) Pour l’application du...

AI summary The text contains legal provisions related to the definition of a limited partner in a partnership under the Income Tax Act, specifying conditions under which a member is considered a limited partner.

ph (a) is replaced by the following: loi précédant l’alinéa a) est remplacé par ce qui suit :

AI summary The text provides a partial translation of a legal provision, replacing a section with new content. It references a legislative change, likely related to tax regulations, but does not provide full context or discussion of the implications.

Agreement or election of partnership members Convention ou choix d’un associé (3) If a taxpayer who was a member of a partnership at (3) Si un contribuable qui est l’associé d’une société de any time in a fiscal period has, for any purpose...

AI summary This text outlines provisions related to the computation of a taxpayer's income from a partnership, including agreements, designations, and elections under specific subsections of the Income Tax Act. It references various sections and subsections that define excluded interests and relevant cost bases for tax calculations.

ncome Tax Act Loi de l’impôt sur le revenu Sections 26-27 Articles 26-27 benefits in respect of, or because of, an office or em- prestations sont assurées dans le cadre ou au titre de ployment or former office or employment of any indi- la...

AI summary This text outlines amendments to the Income Tax Act, specifically sections 26-27, which relate to benefits tied to employment and the definition of a trust. The amendments include the addition of 'employee ownership trust' to the definition of trust and the application of these changes to transactions occurring on or after January 1, 2024.

Restricted interest and financing expenses Dépenses d’intérêts et de financement restreintes (a.1) restricted interest and financing expenses for a.1) ses dépenses d’intérêts et de financement res- taxation years preceding the year, but no...

AI summary The text discusses restricted interest and financing expenses for taxation years preceding the current year, with specific rules about deductibility and a formula involving excess capacity and received capacity.

is replaced by the following: édictée par le paragraphe (2), est remplacée par ce qui suit : (A) the amount required by subsections 127(8), (A) la partie du montant déterminé à l’égard de 127.44(11) or 127.45(8) in respect of the partner-...

AI summary This text contains a legal provision related to the Income Tax Act, specifically Section 27, and its French translation. It discusses amendments to the Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023.

es Income Tax Act Loi de l’impôt sur le revenu Section 27 Article 27 tax credit, the CCUS tax credit (as defined in d’ajouter au crédit d’impôt à l’investissement, au subsection 127.44(1)) or the clean technology crédit d’impôt pour le CUS...

AI summary This text discusses amendments to the Income Tax Act, specifically Section 27, which relates to tax credits for carbon capture and utilization and storage (CCUS) and clean technology investments. It outlines a limitation on deductibility under subsection 111(3).

pense, in computing a non-capital loss) cette dépense d’intérêts et de financement res- for taxation years preceding the particular taxation treinte, de cette perte agricole restreinte, perte agri- year, cole ou perte comme commanditaire,...

AI summary The text discusses amendments to paragraph 111(3)(a) of the Act, specifically modifying the wording by striking out 'and' at the end of subparagraph (i.1) and adding new content after subparagraph (ii). The changes relate to the calculation of taxable income and restricted losses.

nd of subparagraph par adjonction, après le sous-alinéa (ii), de ce qui (i.1) and by adding the following after subpara- suit : graph (ii): (iii) amounts claimed in respect of that limited (iii) les sommes demandées relativement à cette pa...

AI summary The text discusses amendments to tax regulations, specifically regarding the deductibility of certain losses and expenses. It introduces changes to how limited partnership losses are treated in the calculation of taxable income and modifies the rules for non-capital losses and financing expenses.

b) aucune somme n’est déductible au titre d’une perte loss, restricted interest and financing expense, net autre qu’une perte en capital, d’une dépense d’intérêts 2021-2022-2023-2024 129 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Att...

AI summary This text discusses amendments to the Income Tax Act, specifically modifying paragraph 111(3)(b) by adding a new provision after subparagraph (i). The changes relate to the deductibility of certain losses, including capital losses and restricted interest and financing expenses.

following after subparagraph (i): par adjonction, après le sous-alinéa (i), ce qui suit : (i.1) in the case of a restricted interest and financ- (i.1) dans le cas d’une dépense d’intérêts et de fi- ing expense, the restricted interest and...

AI summary The text outlines amendments to subsection 111(5) of the Act, introducing a new provision related to loss restriction events, which apply to certain losses and expenses, particularly restricted interest and financing expenses.

rded as being in respect bie par le contribuable dans le cadre de l’exploitation of an amount deductible under paragraph 110(1)(k) in d’une entreprise, selon le cas, et, si le contribuable ex- computing the taxpayer’s taxable income for th...

AI summary The text discusses modifications to Section 111 of the Act, specifically the addition of a new provision after subsection (5). It outlines rules regarding the deductibility of certain amounts under paragraph 110(1)(k) in the computation of taxable income for a particular taxation year.

(9) L’article 111 de la même loi est modifié par ad- the following after subsection (5): jonction, après le paragraphe (5), de ce qui suit : Loss restriction event – cumulative unused excess Fait lié à la restriction de pertes — capacité c...

AI summary This text discusses amendments to the Income Tax Act, specifically section 27, which relates to loss restriction events and the determination of unused excess capacity. The amendment introduces provisions for determining cumulative unused excess capacity without regard to absorbed or transferred capacity.

es Income Tax Act Loi de l’impôt sur le revenu Section 27 Article 27 of the particular taxpayer for any taxation year that end- capacité absorbée, capacité excédentaire ou capacité ed before that time. transférée du contribuable donné pour...

AI summary The text discusses a provision in the Income Tax Act, specifically Section 27, which outlines rules regarding the deduction of certain amounts for a taxpayer's taxable income calculation. It replaces a part of the definition of non-capital loss with a new description.

d du contribuable se terminant dans l’année d’im- position, une somme de la société affiliée visée E is the taxpayer’s specified participating per- au sous-alinéa 95(2)f)(ii); centage (as defined in subsection 18.2(1)) in re- spect of the...

AI summary The text discusses amendments to the Income Tax Act, specifically sections 27-28, which relate to the calculation of interest and financing expenses for affiliated companies. It involves the taxpayer's participation percentage in the affiliate taxation year.

d’imposition de la société affiliée. (restricted in- terest and financing expense) (12) The portion of subsection 111(9) of the Act (12) Le passage du paragraphe 111(9) de la même before paragraph (a) is replaced by the follow- loi précéda...

AI summary This text discusses the modification of subsection 111(9) of the Act, focusing on the determination of certain losses and expenses for taxpayers who were not residents in Canada during a taxation year. It outlines how non-capital losses, restricted interest and financing expenses, and other losses are to be calculated as if the taxpayer was a resident.

(b) identified in the corporation’s return of income pagnie produite en vertu de la présente partie pour under this Part for the year. l’année. 2021-2022-2023-2024 133 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 152...

AI summary The text outlines amendments to the Income Tax Act, specifically replacing paragraph 112(6)(c) with definitions related to financial institutions and property valuation, and applying these changes to dividends received after 2023.

tants dont chacun, relativement au dividende, selon le cas : 2021-2022-2023-2024 134 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 153 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023 Chapitre 15 : L...

AI summary The text outlines a provision related to the Income Tax Act, specifically addressing the deductibility of certain foreign income or profits for an affiliate during a foreign taxation year.

s prescrits si, not to be a dividend received by the corporation on a selon le paragraphe (5), une somme est réputée ne pas share of the capital stock of a foreign affiliate. 2021-2022-2023-2024 135 70-71 Eliz. II – 1-2 Cha. III 2026-2027...

AI summary The text discusses provisions related to the Income Tax Act, specifically sections 29-31, which address the treatment of dividends received by a corporation on shares of a foreign affiliate. It also references the Fall Economic Statement Implementation Act, 2023, and its amendments to the Income Tax Act.

être un dividende que la société reçoit sur une action du capital-actions d’une société étrangère affiliée. (3) Subsections (1) and (2) apply in respect of any (3) Les paragraphes (1) et (2) s’appliquent relati- dividend received by a corp...

AI summary This text discusses amendments to the Income Tax Act regarding dividends received by Canadian corporations from shares of foreign affiliates. It specifies that subsections (1) and (2) apply to dividends received on or after July 1, 2022, with an exception for subsection 113(7) not applying to dividends received before July 1, 2023. Additionally, a new term 'relevant census' is added to the Act.

023 and (3) Les paragraphes (1) et (2) s’appliquent aux subsequent taxation years. années d’imposition 2023 et suivantes. 31 (1) The portion of section 123.3 of the Act be- 31 (1) Le passage de l’article 123.3 de la même loi fore paragraph...

AI summary This text amends section 123.3 of the Act to introduce a refundable tax for Canadian-controlled private corporations (CCPCs) or substantive CCPCs, effective for taxation years ending on or after April 7, 2022. The tax is calculated as 10 2/3% of the lesser of specified amounts.

(2) Le paragraphe (1) s’applique aux années d’im- end on or after April 7, 2022. position se terminant à compter du 7 avril 2022. 2021-2022-2023-2024 136 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 155 of 546 Chapter...

AI summary This text outlines a legal amendment to the Income Tax Act, specifically modifying the definition of 'full rate taxable income' in subsection 123.4(1). The change applies to tax years ending on or after April 7, 2022. The amendment replaces a portion of paragraph (b) preceding subparagraph (i) with new wording.

laced by sous-alinéa (i), au paragraphe 123.4(1) de la the following: même loi est remplacé par ce qui suit : (b) if the corporation is a Canadian-controlled private b) si la société est une société privée sous contrôle ca- corporation thr...

AI summary The text modifies paragraph 123.4(1) of the Income Tax Act, replacing subsection (b) to adjust the taxable income calculation for Canadian-controlled private corporations (CCPCs) and SPCCs, effective for taxation years ending on or after April 7, 2022.

(2) Le paragraphe (1) s’applique aux années d’im- end on or after April 7, 2022. position se terminant à compter du 7 avril 2022. 33 (1) The description of A in subsection 125.2(2) 33 (1) L’élément A de la formule figurant au pa- of the Ac...

AI summary This text outlines changes to the description of A in subsection 125.2(2) of the Act, specifying different values for A based on the taxation year's start date, ranging from 0.075 to nil, depending on the year.

après 2033 et avant 2035, (e) nil, in any other case; e) zéro, dans les autres cas; (2) The description of C in subsection 125.2(2) of (2) L’élément C de la formule figurant au para- the Act is replaced by the following: graphe 125.2(2) de...

AI summary This text modifies the calculation of a tax rate (C) under the Income Tax Act, adjusting its value based on the taxation year. The rate decreases over time, starting from 0.045 for years beginning after 2021 and before 2032, down to zero for years beginning after 2033 and before 2035.

the Act is replaced by the fol- paragraphe 127(9) de la même loi, est remplacée lowing: par ce qui suit : non-government assistance means an amount (other aide non gouvernementale Somme (autre qu’une than an amount received directly from a...

AI summary The text outlines amendments to a legislative act, including the replacement of a term related to non-government assistance and the effective dates of subsections. The amendments specify the inclusion of non-government assistance in income calculations and the dates when these changes come into force.

ow- 35 (1) La même loi est modifiée par adjonction, ing after section 127.43: après l’article 127.43, de ce qui suit : Definitions Définitions 127.44 (1) The following definitions apply in this sec- 127.44 (1) Les définitions qui suivent s...

AI summary The text discusses amendments to the Income Tax Act, including the definition of 'captured carbon' as carbon dioxide that would otherwise be released into the atmosphere or captured directly from ambient air. It also references the Fall Economic Statement Implementation Act, 2023.

ring or excavating land. (travaux prélimi- cours de la troisième période du projet, 0,5, naires de CUSC) 2021-2022-2023-2024 142 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 161 of 546 Chapter 15: Fall Economic Statem...

AI summary The text includes a fragment from a legal document, referencing the Fall Economic Statement Implementation Act, 2023, and mentions amendments to the Income Tax Act and other legislation. It also includes a section reference (Section 35) and a French translation of the title.

r if it is distribution equip- tionnelles dans un processus de CUSC dans le cadre : ment that expands the capacity of existing 2021-2022-2023-2024 144 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 163 of 546 Chapter 15...

AI summary The text references a legislative amendment under the Income Tax Act, specifically Section 35, as part of the Fall Economic Statement Implementation Act, 2023. It includes French translations and references to a chapter and page number in a legal document.

the third relativement à un projet de CUSC pour une période : project period, nil, or A÷B 2021-2022-2023-2024 146 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 165 of 546 Chapter 15: Fall Economic Statement Implementat...

AI summary The document text includes a section from the Income Tax Act, specifically Section 35, as part of the Fall Economic Statement Implementation Act, 2023. The text also includes a reference to a project period and some numerical data, but the main content relates to legislative amendments.

cité thermique au charbon) était au plus tard le 7 assessment — Requirements for the operation of avril 2022, 2021-2022-2023-2024 148 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 167 of 546 Chapter 15: Fall Economic S...

AI summary The text references a legislative amendment related to the Income Tax Act, specifically Section 35, as part of the Fall Economic Statement Implementation Act, 2023. The context suggests a regulatory or legislative update, though specific details are limited.

impôt payable par ailleurs en vertu de la présente partie pour l’année. 2021-2022-2023-2024 150 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 169 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023 Chap...

AI summary This text references the Income Tax Act and its amendments under Part 1 of the Fall Economic Statement Implementation Act, 2023. It includes a section reference (Section 35) and mentions the law in both English and French.

documents ou renseignements au plus tard cent- quatre-vingt jours après qu’ils aient été demandés. 2021-2022-2023-2024 152 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 171 of 546 Chapter 15: Fall Economic Statement Im...

AI summary This section outlines special rules for adjustments under the Income Tax Act, specifically addressing the capital cost of properties in Class 57 or 58 in Schedule II to the Income Tax Regulations, and excludes certain subsections from consideration.

ns of (iv) toute somme qui, en vertu de l’article 21, a été the CCUS project to the extent that the total of all ajoutée au coût d’un bien, such amounts exceeds 10% of the total of all quali- fied CCUS expenditures incurred by the taxpayer...

AI summary The text includes provisions related to the Income Tax Act, specifically Section 35, and mentions the Chapter 15: Fall Economic Statement Implementation Act, 2023. It references the CCUS project and qualified expenditures related to it.

de la partie XII.7, (ii) the designation under subparagraph (i) shall specify the time at and after which it is in effect, 2021-2022-2023-2024 155 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 174 of 546 Chapter 15: Fa...

AI summary The text references amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It includes a section reference to Section 35 of the Income Tax Act, indicating legislative changes related to taxation.

es Income Tax Act Loi de l’impôt sur le revenu Section 35 Article 35 which time may, for greater certainty, precede the (ii) la date de prise d’effet de la désignation visée au time at which the designation is made, and sous-alinéa (i) doi...

AI summary The text refers to Section 35 of the Income Tax Act, which outlines procedures for the designation of provinces by the Minister of the Environment, including the requirement to publish such designations on a government website and the deemed designation of certain provinces.

ncome Tax Act Loi de l’impôt sur le revenu Sections 35-36 Articles 35-36 Late filing Présentation tardive (17) The Minister may accept the late filing by a qualify- (17) Le ministre peut accepter la présentation tardive du ing taxpayer of...

AI summary The text discusses the provisions of the Income Tax Act, specifically sections 35-36, regarding the acceptance of late filings by qualifying taxpayers. It outlines that the Minister may accept late filings of the prescribed form until one year after the filing-due date, but no payment is deemed to arise until the form is filed with the Minister.

e economic zone of Canada) and intend- c) il, s’il est destiné à être loué à une autre personne ed for use exclusively in Canada; ou une société de personnes par le contribuable, est loué, à la fois : (b) that has not been used, or acquire...

AI summary The text includes a section from the Income Tax Act, specifically Section 36, as part of the Chapter 15: Fall Economic Statement Implementation Act, 2023. It outlines provisions related to the use and leasing of certain assets within Canada.

s’il n’était pas tenu compte de son alinéa a.1). (small modular nuclear reactor) 2021-2022-2023-2024 160 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 179 of 546 Chapter 15: Fall Economic Statement Implementation Act,...

AI summary This text outlines changes to the Income Tax Act, specifically Section 36, which details the percentage determined for certain tax purposes related to the acquisition of clean technology assets, with varying rates depending on the date of acquisition.

es Income Tax Act Loi de l’impôt sur le revenu Section 36 Article 36 (c) in the year, the particular property (or another propres relativement au coût en capital, ou à une par- property that incorporates the particular property) is tie du...

AI summary This text discusses the conversion, export, or disposal of a particular property under the Income Tax Act, specifically Section 36, Article 36, in relation to clean technology use and capital cost considerations.

qui est liée au cédant si l’acheteur a acquis le bien dans stances where the property would be clean technology des circonstances où le bien aurait été, pour lui, un bien 2021-2022-2023-2024 164 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA...

AI summary The text discusses modifications to the Income Tax Act, specifically addressing the recapture of deferred gains from certain non-arm's length transfers, with references to subsections 127(33) and 127.45(13).

ncome Tax Act Loi de l’impôt sur le revenu Sections 36-37 Articles 36-37 (b) the percentage described in paragraph (16)(b) of dans le calcul du montant déterminé selon le para- graphe (8) à l’égard de la société de personnes; (i) where the...

AI summary The text references sections 36-37 of the Income Tax Act, discussing the calculation of a percentage related to the disposal of property by a partnership, including considerations for fair market value and arm's length transactions.

finitions apply in this sec- 127.46 (1) Les définitions qui suivent s’appliquent au tion. présent article. apprenticeship requirements means the requirements année d’imposition de l’installation Relativement à un set out in subsection (5)....

AI summary The text defines terms related to apprenticeship requirements and discusses taxation years in the context of the Income Tax Act and the Fall Economic Statement Implementation Act, 2023. It includes references to specific years and legislative amendments.

l’article 187 du Règlement sur l’immigration et la protection des réfugiés. (covered worker) Reduced or regular rate Taux réduit ou régulier (2) Despite sections 127.44 and 127.45, the applicable (2) Malgré les articles 127.44 et 127.45, l...

AI summary The text references sections of the Income Tax Act and the Fall Economic Statement Implementation Act, 2023, including amendments and tax credit rates. It also mentions the Immigration and Refugee Protection Regulations, specifically Article 187, and refers to various years and pages in a legal document.

es Income Tax Act Loi de l’impôt sur le revenu Section 37 Article 37 the prevailing wage requirements under subsection (3) prescrit et selon les modalités prescrites de satisfaire aux and the apprenticeship requirements under subsection ex...

AI summary The text discusses provisions from the Income Tax Act, specifically Section 37, which outlines prevailing wage and apprenticeship requirements for tax credits related to installation taxation years.

d’imposition, mais ne satisfait pas aux exigences relatives more days in an installation taxation year in respect of au salaire prévalant relativement à un travailleur visé 2021-2022-2023-2024 170 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GR...

AI summary The text discusses amendments to the Income Tax Act, specifically Section 37, which adds a tax payable for each day a covered worker is not paid the prevailing wage during an installation taxation year. The amendment is part of the Fall Economic Statement Implementation Act, 2023.

où : A is the amount that the covered worker would have received or benefited from, in respect of the worker’s 2021-2022-2023-2024 172 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 191 of 546 Chapter 15: Fall Economic...

AI summary The text references a legal document related to the Income Tax Act and its amendments under the Fall Economic Statement Implementation Act, 2023. It includes a section reference (Section 37) and mentions a legislative chapter and year (Chapter 15, 2023).

es Income Tax Act Loi de l’impôt sur le revenu Section 37 Article 37 (i) posts a bona fide job advertisement, seeking suf- a) au moins une fois tous les quatre mois, le deman- ficient apprentices to perform those hours of labour deur d’inc...

AI summary This text refers to Section 37 of the Income Tax Act, which outlines requirements for job advertisements seeking apprentices for designated work sites, including commitments to facilitate participation in Red Seal trade programs and accessibility of job postings on specific websites.

en compte toutes les demandes reçues en réponse à (c) the incentive claimant attests in prescribed form l’offre d’emploi concernant les possibilités d’appren- and manner that it has complied with paragraphs (a) tissage qui sont offertes di...

AI summary The text outlines procedures for incentive claimants to attest to compliance with specific requirements, as well as mentions a legislative amendment related to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023.

ncome Tax Act Loi de l’impôt sur le revenu Sections 39-40 Articles 39-40 (2) Subsection (1) is deemed to have come into (2) Le paragraphe (1) est réputé être entré en vi- force on April 1, 2023. gueur le 1er avril 2023. 40 (1) Paragraph 12...

AI summary The text outlines amendments to the Income Tax Act, specifically sections 39-40, effective April 1, 2023. It modifies paragraph 129(1)(b) to require corporations to make dividend refunds with due diligence after sending the notice of assessment, if a written application is made within the specified period.

stance à un moment donné au cours de l’année, la moins élevée des sommes suivantes : 2021-2022-2023-2024 179 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 198 of 546 Chapter 15: Fall Economic Statement Implementation A...

AI summary This text outlines amendments to the Income Tax Act, specifically sections 40-42, which apply to taxation years ending on or after April 7, 2022. It discusses the replacement of certain subsections in paragraph 135.2(4) of the Act.

the Act is replaced by the fol- ragraphe 137(6) de la même loi, est remplacé par lowing: ce qui suit : 2021-2022-2023-2024 180 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 199 of 546 Chapter 15: Fall Economic Statemen...

AI summary This text outlines amendments to the Income Tax Act, specifically sections 42-45, which include registered retirement savings plans, registered retirement income funds, and other registered savings accounts. These amendments are part of the Fall Economic Statement Implementation Act, 2023.

es Income Tax Act Loi de l’impôt sur le revenu Section 45 Article 45 Beneficiary replacing holder Remplacement du titulaire par le bénéficiaire (1.5) Any holder of a disability savings plan who was a (1.5) Le titulaire d’un régime d’épargn...

AI summary This text discusses the replacement of a holder of a disability savings plan by the beneficiary under the Income Tax Act, specifically in section 45. It outlines conditions under which a holder ceases to be a holder and the beneficiary becomes the new holder.

lation to the benefi- graphe (1)) du bénéficiaire au moment où les droits ciary at the time the rights are acquired, or sont acquis, 2021-2022-2023-2024 182 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 201 of 546 Chap...

AI summary The text discusses amendments to subsection 146.4(4) of the Income Tax Act, specifically adding content after paragraph (b). The context involves legislative changes related to tax law.

as a successor of the holder of the plan under b) avoir permis à un membre de famille admissible paragraph (4)(b.1). d’acquérir des droits à titre de successeur du titulaire du régime en application de l’alinéa (4)b.1). 46 (1) The definiti...

AI summary The text provides a legal definition of 'survivor' under the Income Tax Act, specifying that a survivor is an individual who was the spouse or common-law partner of the deceased holder immediately before their death. The text is part of a legislative amendment in the Fall Economic Statement Implementation Act, 2023.

es Income Tax Act Loi de l’impôt sur le revenu Section 46 Article 46 (2) The definition bénéficiaire in subsection (2) La définition de bénéficiaire, au paragraphe 146.6(1) of the French version of the Act is re- 146.6(1) de la version fra...

AI summary The text amends the definition of 'beneficiary' under section 146.6(1) of the Income Tax Act, specifically for CELIAPP (Flexible Home Savings Account). It also revises the annual limit definition for the same account.

premier retrait admissible d’un CELIAPP par le contribuable; 2021-2022-2023-2024 184 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 203 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023 Chapitre 15 : L...

AI summary The text discusses amendments to the Income Tax Act, specifically subsection 146.6(1), with the addition of new provisions in alphabetical order. It is part of the Fall Economic Statement Implementation Act, 2023.

ncome Tax Act Loi de l’impôt sur le revenu Sections 46-47 Articles 46-47 (iii) the trust’s last taxation year that began before (ii) la fiducie est réputée avoir acquis, au moment the particular time is deemed to have ended imme- donné, ch...

AI summary The text references sections 46-47 of the Income Tax Act, discussing the deemed ending of a trust's taxation year and the deemed acquisition of assets at fair market value. These provisions apply to specific arrangements such as deposits or contracts.

(2) L’alinéa 152(1)b) de la même loi, édicté par le subsection (1), is replaced by the following: paragraphe (1), est remplacé par ce qui suit : (b) the amount of tax, if any, deemed by any of sub- b) le montant d’impôt qui est réputé, en...

AI summary The text outlines amendments to the Income Tax Act, specifically replacing subsection (1) of section 152 with new provisions related to the calculation and payment of taxes deemed to be payable by taxpayers under this Part for the year.

es Income Tax Act Loi de l’impôt sur le revenu Section 47 Article 47 (3) The portion of subsection 152(3.1) of the Act (3) Le passage du paragraphe 152(3.1) de la même before paragraph (a) is replaced by the follow- loi précédant l’alinéa...

AI summary This text amends the Income Tax Act, specifically Section 47, to redefine the normal reassessment period for taxpayers and modify paragraph 152(4)(b) by striking out 'or' at the end of subparagraph (vi), adding 'or' at the end of subparagraph (vii), and adding a new provision after subparagraph (vii).

plicable au contribuable pour l’année et vise une of a disposition, in the year, of shares of the capital disposition dans l’année d’actions du 2021-2022-2023-2024 188 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 207...

AI summary The text discusses provisions related to the disposition of shares of a Canadian corporation's capital stock, particularly in the context of elections filed by taxpayers under specific sections of the Income Tax Act.

avoir été payé au titre de l’impôt payable par la société under this Part for the year. pour l’année en vertu de la présente partie. 2021-2022-2023-2024 190 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 209 of 546 Chap...

AI summary This text outlines a modification to the Income Tax Act, specifically replacing paragraph 157(3.1)(c) with a new provision that adjusts the calculation of certain amounts deemed to have been paid on account of a corporation's tax payable under the Act for the taxation year.

n 160.2(2.3) of the Act is repealed. 51 (1) Le paragraphe 160.2(2.3) de la même loi est abrogé. 2021-2022-2023-2024 191 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 210 of 546 Chapter 15: Fall Economic Statement Imple...

AI summary This text outlines amendments to the Income Tax Act, specifically repealing section 160.2(2.3) and modifying section 163(2) to add content after paragraph (d), effective April 1, 2023.

tions apply in this Part. 183.3 (1) Les définitions qui suivent s’appliquent à la présente partie. 2021-2022-2023-2024 192 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 211 of 546 Chapter 15: Fall Economic Statement Im...

AI summary This text outlines definitions related to the Income Tax Act, specifically focusing on the criteria for an entity to be considered a 'covered entity' based on its equity being listed on a designated stock exchange.

(B) soit déterminé en fonction du taux d’intérêt real, immovable or resource property in du marché (y compris les bons du Trésor du 2021-2022-2023-2024 193 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 212 of 546 Chapt...

AI summary The text discusses the determination of a rate based on market interest rates, including government bonds, and references amendments to the Income Tax Act and related legislation, specifically subsection 248(1) without reference to the words 'situated in Canada'.

equity by a holder for consider- n’est pas affiliée, en échange de biens utilisés dans ation that includes equity (other than substantive l’entreprise exploitée activement de l’entité visée. debt) of (qualifying issuance) (i) the covered e...

AI summary This text discusses amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023. It outlines changes to equity considerations and related provisions, including definitions and qualifying issuance criteria.

(B) est une fiducie intermédiaire de placement (b) if the affiliate is a trust, the covered entity déterminée, 2021-2022-2023-2024 195 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 214 of 546 Chapter 15: Fall Economic...

AI summary This text contains a legal document related to the Income Tax Act and other legislation, specifically Section 53. It is part of the Fall Economic Statement Implementation Act, 2023, and includes a reference to a trust and its classification as an intermediate investment trust.

a) lors d’un échange de capitaux propres par un dé- tenteur pour une contrepartie qui comprend des 2021-2022-2023-2024 196 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 215 of 546 Chapter 15: Fall Economic Statement Im...

AI summary This text includes a mix of French and English legal terminology, including references to tax legislation and a chapter titled 'Fall Economic Statement Implementation Act, 2023.' It contains a section number and a chapter title in both languages.

représente la juste valeur marchande totale des capi- taux propres (sauf une dette substantielle) de l’entité 2021-2022-2023-2024 197 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 216 of 546 Chapter 15: Fall Economic S...

AI summary The text references the Fall Economic Statement Implementation Act, 2023, and includes a section from the Income Tax Act. It discusses amendments to the Income Tax Act and other legislation, though no specific details or arguments are provided in the excerpt.

e the particular time; dans l’année d’imposition au plus tard au moment donné; 2021-2022-2023-2024 201 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 220 of 546 Chapter 15: Fall Economic Statement Implementation Act, 20...

AI summary The text references the Fall Economic Statement Implementation Act, 2023, and includes a section from the Income Tax Act, specifically Section 55. It also contains a series of years and legal references, including '70-71 Eliz. II – 1-2 Cha. III', which appears to be a legal citation.

la formule figurant à l’alinéa a) devrait être moins éle- vée compte tenu des circonstances du particulier, de la 2021-2022-2023-2024 202 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 221 of 546 Chapter 15: Fall Econom...

AI summary The text discusses amendments to the Income Tax Act, specifically modifying the definition of designated amount in subsection 207.01(1) to address the excess Flexible Spending Account (FHSA) amount and Compte d'épargne libre d'impôt à l'accumulation progressive (CELIAPP) excess.

de la convention avant la fin de l’année alors qu’elle pensation arrangement and before the end of the year, était une convention de retraite; and 2021-2022-2023-2024 203 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 2...

AI summary The text discusses amendments to the Income Tax Act, specifically subsection 207.5(1), with the addition of new provisions in alphabetical order. The content is part of the Fall Economic Statement Implementation Act, 2023, and includes references to legislative changes.

bution. le cadre d’une convention déterminée qui est une cotisa- (employeur admissible) tion exclue. (eligible employer) 2021-2022-2023-2024 204 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 223 of 546 Chapter 15: Fall...

AI summary The text references amendments to the Income Tax Act and related legislation under the Fall Economic Statement Implementation Act, 2023. It includes a section reference (Section 57) and mentions the Loi de l’impôt sur le revenu (Income Tax Act).

es Income Tax Act Loi de l’impôt sur le revenu Section 57 Article 57 specified refundable tax of a specified arrangement at impôt remboursable déterminé Relativement à une the end of a taxation year means the amount, if any, de- convention...

AI summary This text defines the specified refundable tax of a specified arrangement at the end of a taxation year, calculated using the formula A−B, where A is the amount elected under paragraph (2)(c), and B is the total of all refund amounts determined under subsection (3) for preceding taxation years.

USC. (reporting taxation year) ly or indirectly, in a qualified CCUS project in respect of which $20 million or more of qualified CCUS expendi- année d’imposition de recouvrement Relativement à tures are expected to be incurred (based on t...

AI summary This text discusses amendments to the Income Tax Act related to qualified CCUS projects, specifying that a project must involve $20 million or more in qualified expenditures to be eligible for tax relief. The text is part of the Fall Economic Statement Implementation Act, 2023.

t Relativement à un projet of Natural Resources in the CCUS-ITC Technical de CUSC, s’entend des cinq années civiles suivant la fin Guidance Document as published by the Minister of de la première période du projet. (second project peri- Na...

AI summary The text discusses the Income Tax Act and its amendments, specifically Section 58, as part of the Fall Economic Statement Implementation Act, 2023. It also references the CCUS-ITC Technical Guidance Document and related terms like project start-up dates and construction knowledge sharing reports.

B la quantité totale de carbone capté que le projet de (A) where the project start-up date is before Oc- CUSC a pris en charge à des fins de stockage ou d’uti- tober 1 in a calendar year, June 30 of the follow- lisation dans le cadre à la...

AI summary The text references the Income Tax Act and its amendments, specifically Section 58, in the context of the Fall Economic Statement Implementation Act, 2023. It discusses carbon capture, utilization, and storage (CCUS) projects and their eligibility for tax credits under the Income Tax Act.

es Income Tax Act Loi de l’impôt sur le revenu Section 58 Article 58 second calendar year after the calendar year s’entend de l’année d’imposition qui inclut le dernier jour which includes the the project start-up date, and de la première...

AI summary The text outlines the reporting period for the Income Tax Act, specifying that it refers to the tax year containing the last day of the first period of the project. The reporting period is further defined in relation to the start-up date of the project and includes specific deadlines for reports.

position de recouvrement donnée est réputée com- quent project period; and prendre chaque période de projet ultérieure; (c) those subsections do not apply to a subsequent re- c) ces paragraphes ne s’appliquent pas à l’année d’im- covery ta...

AI summary This text discusses amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It references specific sections and subsections related to recovery taxation years and project periods.

es Income Tax Act Loi de l’impôt sur le revenu Section 58 Article 58 project period were equal to its actual eligible use B le montant qui serait déterminé pour l’élément A si le percentage; and pourcentage d’utilisation admissible prévu p...

AI summary The text discusses the calculation of eligible use percentages under the Income Tax Act, specifically Section 58, relating to the determination of amounts based on actual eligible use and previously paid taxes in relation to a project.

dans le calcul du pourcentage réel d’utilisation admis- sible pour la période de projet. 2021-2022-2023-2024 212 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 231 of 546 Chapter 15: Fall Economic Statement Implementati...

AI summary The text references a section of the Income Tax Act, specifically Section 58, as part of the Fall Economic Statement Implementation Act, 2023. It also includes a reference to a chapter and page number from a legal document.

A représente la dépense de CUSC admissible relative C is the amount, not exceeding the amount deter- au bien telle qu’elle est calculée pour l’année d’im- mined for D, equal to position qui comprend le premier jour des activi- (i) if the p...

AI summary The text outlines a provision related to the calculation of eligible CUSC expenses for a property, considering the disposal of the property to a person at arm's length or not, and references the Income Tax Act, Section 58, as part of the Fall Economic Statement Implementation Act, 2023.

pôt pour le CUSC ayant été ajoutés précédemment au cal- cul du crédit d’impôt pour le CUSC d’un associé de la 2021-2022-2023-2024 215 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 234 of 546 Chapter 15: Fall Economic S...

AI summary This text discusses the application of subsection 127.44(11) of the Income Tax Act in relation to a partnership interest and its impact on a partnership's calculation of a tax credit for a partner.

chaque année d’imposition de la déclaration, mettre à report for the year that la disposition du public, selon les modalités prescrites, 2021-2022-2023-2024 216 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 235 of 546...

AI summary This text provides a section from a legislative document related to the Income Tax Act, specifically Article 58, and references the Fall Economic Statement Implementation Act, 2023. It includes a reference to Chapter 15 and a page number from a larger document.

personne à laquelle s’applique le paragraphe (1) relative- ment au rapport. 2021-2022-2023-2024 217 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 236 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023...

AI summary The text includes a mix of legal and regulatory language, including references to the Fall Economic Statement Implementation Act, 2023, and amendments to the Income Tax Act. It also contains a section number (Section 58) and a chapter reference (Chapter 15).

térêts n’est pas déductible dans le calcul du revenu de la tion 18.4(4). société pour l’année par l’effet du paragraphe 18.4(4). 2021-2022-2023-2024 219 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 238 of 546 Chapter...

AI summary The text discusses amendments to the Income Tax Act, specifically sections 59-62, which relate to the application of certain provisions from July 1, 2022, and modifications to subsection 216(1), including the removal of 'and' at the end of paragraph (c) and its addition at the end of paragraph (d).

at the end of paragraph (b) modifié par adjonction, après l’alinéa b), de ce and by adding the following after that paragraph: qui suit : 2021-2022-2023-2024 220 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 239 of 546...

AI summary This text contains a legal provision modifying the Income Tax Act, specifically sections 62-63, regarding the timing of payments under subsections 211.92(2) to (5) related to the date of sending the notice of assessment. The payment schedule is divided into one-fifth and two-fifths of the amount, with different timelines for each portion.

mount that would be payable to the Receiver General under Part XIII if an amount (ii) la somme qui serait payable au receveur gé- equal to the amount deductible under para- néral en vertu de la partie XIII si une somme graph 20(1)(yy) were...

AI summary The text references a legal provision related to the Income Tax Act and its amendments, specifically sections 63-64, as part of the Fall Economic Statement Implementation Act, 2023. It also includes a French translation of the heading and references a legislative chapter and page number.

née d’imposition au cours de laquelle l’opération se pro- duit. 2021-2022-2023-2024 222 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 241 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023 Chapitre 15...

AI summary The text discusses provisions related to late filing of information returns under the Income Tax Act, allowing taxpayers to file up to one year after the deadline, subject to the General Anti-Avoidance Rule (GAAR).

t is replaced (2) La division 241(4)d)(xx.1)(A) de la même loi by the following: est remplacée par ce qui suit : 2021-2022-2023-2024 223 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 242 of 546 Chapter 15: Fall Economi...

AI summary The text provides a legal amendment to the Income Tax Act and related legislation, specifically sections 65-66, as part of the Fall Economic Statement Implementation Act, 2023. The amendment involves replacing a provision in section 241(4)d)(xx.1)(A) of the same law.

(3) L’article 245 de la même loi est modifié par ad- the following after subsection (4): jonction, après le paragraphe (4), de ce qui suit : 2021-2022-2023-2024 224 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 243 of...

AI summary The text amends section 66 of the Income Tax Act to address transactions lacking economic substance, indicating potential misuse or abuse under specific provisions. This amendment is part of the Fall Economic Statement Implementation Act, 2023.

d’imposition, d’une pénalité égale à la somme déterminée (A + B) × 25% − C par la formule suivante : 2021-2022-2023-2024 225 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 244 of 546 Chapter 15: Fall Economic Statement...

AI summary The text outlines a penalty calculation formula under the Income Tax Act, involving a specific mathematical expression. It references amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023.

ncome Tax Act Loi de l’impôt sur le revenu Sections 66-67 Articles 66-67

AI summary The text references Sections 66-67 of the Income Tax Act, indicating a discussion related to specific provisions of this legislation.

on or after January 1, 2024. opérations se produisant à compter du 1er janvier 2024. (6) Subsection (4) applies to transactions that oc- (6) Le paragraphe (4) s’applique aux opérations cur on or after the later of January 1, 2024 and the s...

AI summary This text outlines amendments to the Income Tax Act, specifically subsection 67(1), which applies to transactions occurring on or after January 1, 2024, or the date of royal assent, whichever is later. The amendment replaces a sub-paragraph related to dispositions.

es Income Tax Act Loi de l’impôt sur le revenu Section 67 Article 67

AI summary This text references Section 67 of the Income Tax Act, indicating a legal provision related to taxation. It does not provide further details about the content or implications of this section.

b) soit, si chaque action du capital-actions d’une so- ration that is owned by a Canadian resident individual ciété appartenant à un particulier résidant au Canada 2021-2022-2023-2024 227 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 At...

AI summary The text discusses amendments to the Income Tax Act, specifically Section 67, which outlines rules regarding ownership and control of shares by Canadian residents. It also introduces the term 'absorbed capacity' with a reference to another section of the Act.

in alphabetical order: fié par adjonction, selon l’ordre alphabétique, de ce qui suit : employee ownership trust means an irrevocable trust entreprise admissible S’entend, à un moment donné, that, at all relevant times, satisfies the follo...

AI summary The text includes legal definitions and legislative amendments, specifically referencing the Income Tax Act and other legislation, with a focus on employee ownership trusts and amendments from the Fall Economic Statement Implementation Act, 2023.

es Income Tax Act Loi de l’impôt sur le revenu Section 67 Article 67

AI summary This text references Section 67 of the Income Tax Act, indicating a legal provision related to taxation. It does not provide further details about the content or implications of this section.

liée ou affiliée, des actions d’une catégorie du capi- tal-actions d’une entreprise admissible contrôlée 2021-2022-2023-2024 229 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 248 of 546 Chapter 15: Fall Economic Statem...

AI summary This section of the Fall Economic Statement Implementation Act, 2023, modifies the Income Tax Act and other legislation. It focuses on amendments related to the Income Tax Act, specifically Section 67, as part of broader legislative changes.

es Income Tax Act Loi de l’impôt sur le revenu Section 67 Article 67

AI summary This text references Section 67 of the Income Tax Act, indicating a legal provision related to taxation. It does not provide further details about the content or implications of this section.

es sont des bénéfi- qualifying business (other than in the course of a ciaires visés à la division b)(i)(A); transaction or event or a series of transactions or 2021-2022-2023-2024 230 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attac...

AI summary This text references amendments to the Income Tax Act and other legislation under the Fall Economic Statement Implementation Act, 2023. It specifically mentions Section 67 of the Income Tax Act and its corresponding French version.

es Income Tax Act Loi de l’impôt sur le revenu Section 67 Article 67

AI summary This text references Section 67 of the Income Tax Act, indicating a legal provision related to taxation. It does not provide further details about the content or implications of this section.

eficiaries of which are employed in the business, cause, ou une société dont les actions appartiennent à and 2021-2022-2023-2024 231 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 250 of 546 Chapter 15: Fall Economic St...

AI summary This text is a portion of a legislative amendment to the Income Tax Act, specifically Section 67, which outlines conditions related to the disposition of assets and the relationship between the taxpayer and the subject corporation, trust, and purchaser corporation.

(i) le contribuable n’a aucun lien de dépendance avec la société en cause, la fiducie ou un acheteur, (ii) le contribuable ne conserve pas un droit ou une influence dont l’exercice lui permettrait (seul ou avec une personne ou une société...

AI summary The text outlines conditions for a qualifying business transfer under tax law, specifying that the taxpayer has no dependency on the company, trust, or buyer and lacks any rights or influence to control them directly or indirectly.

ment payable en vertu de l’article 123.3 sur le revenu de the corporation is deemed to be a substantive CCPC from placement total de la société, celle-ci est réputée être une 2021-2022-2023-2024 232 70-71 Eliz. II – 1-2 Cha. III 2026-2027...

AI summary The text discusses amendments to the Income Tax Act, specifically Section 67, which deals with the determination of when a corporation is deemed to be a substantive Canadian-controlled private corporation (SPCC). It outlines the timing of such determination based on certain conditions.

position commençant avant le 1er octobre 2023 et se terminant après cette date si, à la fois : 2021-2022-2023-2024 233 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 252 of 546 Chapter 15: Fall Economic Statement Implem...

AI summary The text discusses amendments to the Income Tax Act and other legislation, focusing on the conditions under which a taxpayer's taxation year may be shorter due to specific transactions or events.

qu’elle ne l’aurait été en l’absence de cette opé- ries; and ration, de cet événement ou de cette série; (b) it can reasonably be considered that one of b) il est raisonnable de considérer que l’un des the purposes of the transaction, even...

AI summary This text outlines legal provisions related to tax legislation, focusing on the deferral of application of specific paragraphs and sections of the Act. It discusses the effective date of a subsection and amendments to a section of the Act.

replaced by the follow- au paragraphe 256.1(1) de la même loi, est rem- ing: placée par ce qui suit : specified provision means any of subsections 10(10) dispositions déterminées Les paragraphes 10(10) et and 13(24), paragraph 37(1)(h), su...

AI summary This text provides a legal definition related to specified provisions under the Income Tax Act, including subsections and paragraphs that define investment tax credits and similar provisions.

dentes du contribuable était, en raison d’une or events, shorter than it would have been in opération, d’un événement ou d’une série 2021-2022-2023-2024 234 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 253 of 546 Chap...

AI summary The text references amendments to the Income Tax Act and other legislation under the Chapter 15: Fall Economic Statement Implementation Act, 2023. It outlines sections 69-72 of the Income Tax Act and includes French translations of the titles.

ncome Tax Act Loi de l’impôt sur le revenu Sections 69-72 Articles 69-72 the absence of that transaction, event or se- d’opérations ou d’événements, plus courte ries; and qu’elle ne l’aurait été en l’absence de cette opé- ration, de cet év...

AI summary This text outlines amendments to the Income Tax Act, specifically sections 69-72, focusing on the deferral of tax application in certain scenarios, particularly regarding transactions, events, or series of events that may aim to delay the application of specific tax provisions.

following after subsection (6.2): adjonction, après le paragraphe (6.2), de ce qui suit : Subsections 112(2.01) and (2.3) — ordering Paragraphes 112(2.01) et (2.3) — ordre (6.3) For the purposes of paragraphs (6.1)(b) and (6.3) Pour l’appl...

AI summary The text amends subsections 112(2.01) and (2.3) of the Income Tax Act to include non-deductible dividends in the calculation of taxable income. This applies to dividends received after 2023. It also amends the Excise Tax Act, specifically clause 295(5)(d)(xi.1)(A).

72 La division 211(6)e)(xii.1)(A) de la Loi de 2001 2001 is replaced by the following: sur l’accise est remplacée par ce qui suit : (A) the Department of Employment and Social (A) du ministère de l’Emploi et du Développe- Development, the...

AI summary This text references amendments to the Excise Act, 2001, specifically section 211(6)e)(xii.1)(A), which relates to the administration or enforcement of the Canadian Dental Care Plan under the authority of the Income Tax Act. The amendment is part of the Fall Economic Statement Implementation Act, 2023.

(2) Le paragraphe (1) est réputé être entré en vi- force on March 28, 2023. gueur le 28 mars 2023. 74 (1) Subsection 204(3) of the Regulations is 74 (1) Le paragraphe 204(3) du même règlement amended by striking out “or” at the end of para...

AI summary This text amends subsections 204(3) and 205(3) of the Regulations by adding 'governed by a FHSA' to paragraph (g) and removing the term 'First Home Savings Account (FHSA) Annual Information Return' respectively. The amendments are effective on March 28, 2023, and April 1, 2023.

voie électronique au plus tard à la date où elle doit pro- duire la déclaration au ministre, sauf si, selon le cas : (2) Subsection (1) is deemed to have come into (2) Le paragraphe (1) est réputé être entré en vi- force on April 1, 2023....

AI summary The text outlines amendments to the regulations regarding annuity contracts and tax rates for specific classes under the Income Tax Act, effective April 1, 2023. These changes include the replacement of certain provisions and the addition of new tax rates for Classes 57 and 58.

ly to property ac- (3) Les paragraphes (1) et (2) s’appliquent aux quired after 2021. biens acquis après 2021. 2021-2022-2023-2024 237 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 256 of 546 Chapter 15: Fall Economic...

AI summary The document discusses amendments to the Income Tax Act and related legislation, specifically modifying the definition of 'governing plan' in the Income Tax Regulations. These changes apply to property acquired after 2021.

(5) Les règles ci-après s’appliquent au présent article, à section 18.2 of the Act, l’article 5903.1 et à l’article 18.2 de la Loi : (2) Subsection (1) applies in respect of a taxation (2) Le paragraphe (1) s’applique relativement à year o...

AI summary The text outlines amendments to the Income Tax Act and related legislation, specifically sections 82-83 of the Income Tax Regulations. It references taxation years of foreign affiliates and applies to years ending on or after October 1, 2023.

y subsection (1), is replaced by the fol- par le paragraphe (1), est remplacé par ce qui lowing: suit : (iii) in any other case, the amount that would be (iii) dans les autres cas, le montant qui représente- the income from the active busi...

AI summary The text modifies the calculation of income from an active business under Part I of the Act, assuming the business is carried on in Canada and the affiliate is resident in Canada, while excluding specific subsections and sections of the Act.

is replaced by the fol- au paragraphe 5907(1) du même règlement, est lowing: remplacé par ce qui suit : (iii) the portion of any dividend received in the pe- (iii) la fraction d’un dividende que la société affiliée riod and before the part...

AI summary The text discusses amendments to the Income Tax Act and related legislation, specifically addressing the portion of dividends received by a subject affiliate from another foreign affiliate, as outlined in section 83 of the Income Tax Regulations.

accumulé, tiré de biens, le montant qui représenterait come for the year, if the formula in the definition le revenu étranger accumulé, tiré de biens de la société 2021-2022-2023-2024 240 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 At...

AI summary The text references amendments to the Income Tax Act and related legislation, specifically mentioning the Income Tax Regulations and Section 83. It also refers to the Fall Economic Statement Implementation Act, 2023, and its Chapter 15.

(8) Le paragraphe (1) s’applique relativement aux arising on or after July 1, 2022. paiements se produisant après le 30 juin 2022. 2021-2022-2023-2024 241 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 260 of 546 Chapte...

AI summary The text references amendments to the Income Tax Act and other legislation, specifically sections 83-86 of the Income Tax Regulations, as part of the Fall Economic Statement Implementation Act, 2023.

(9) Subsections (2), (5) and (6) apply in respect of (9) Les paragraphes (2), (5) et (6) s’appliquent re- a taxation year of a foreign affiliate of a taxpayer lativement à une année d’imposition d’une socié- that ends in a taxation year of...

AI summary The text outlines the application of subsections (2), (5), and (6) in relation to the taxation year of a foreign affiliate of a taxpayer. These subsections apply if the taxation year of the foreign affiliate ends in a taxation year of the taxpayer beginning on or after October 1, 2023, or if the taxpayer's previous taxation years were shortened due to specific transactions or events.

have come into (2) Le paragraphe (1) est réputé être entré en vi- force on April 1, 2023. gueur le 1er avril 2023. 86 (1) The portion of Class 8 in Schedule II to the 86 (1) Le passage de la catégorie 8 de l’annexe II Regulations after the...

AI summary This text outlines amendments to the Income Tax Act and related legislation, specifically modifying Class 8 in Schedule II of the Income Tax Regulations. The changes took effect on January 1, 2022, and are part of the Fall Economic Statement Implementation Act, 2023.

s replaced by the follow- rie 43 » et précédant l’alinéa a) est remplacé par ing: ce qui suit : 2021-2022-2023-2024 243 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 262 of 546 Chapter 15: Fall Economic Statement Imple...

AI summary This text discusses amendments to the Income Tax Act and related legislation, specifically regarding property acquired after February 25, 1992, excluding certain classes. The changes came into force on January 1, 2022.

ppareils de contrôle et de surveillance, les valves et les pipeline, that autres appareils auxiliaires du pipeline qui, selon le cas : 2021-2022-2023-2024 244 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 263 of 546 Ch...

AI summary The text references amendments to the Income Tax Act and related legislation, specifically sections 93-95 of the Income Tax Regulations, which came into force on January 1, 2022.

ment used for ment à l’appui d’un projet de CUSC admissible; the transportation system safety and integrity; 2021-2022-2023-2024 245 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 264 of 546 Chapter 15: Fall Economic St...

AI summary The text includes references to the Income Tax Act and related regulations, specifically Section 95 of the Income Tax Regulations. It also mentions the Fall Economic Statement Implementation Act, 2023, and includes a range of years and legal references.

ome Tax Regulations Règlement de l’impôt sur le revenu Section 95 Article 95

AI summary This section of the Income Tax Regulations outlines provisions related to the Income Tax Act, including specific rules and guidelines as detailed in Article 95.

au matériel visé à l’alinéa a) (à l’exclusion du matériel (for greater certainty, excluding construction de construction, du mobilier, de l’équipement de 2021-2022-2023-2024 246 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2...

AI summary The text includes a section from the Fall Economic Statement Implementation Act, 2023, specifically referencing amendments to the Income Tax Act and other legislation. It mentions the Income Tax Regulations and Section 95 of the Act.

ome Tax Regulations Règlement de l’impôt sur le revenu Section 95 Article 95

AI summary This section of the Income Tax Regulations outlines provisions related to the Income Tax Act, including specific rules and guidelines as detailed in Article 95.

covery)); and lité d’une formation géologique afin de stocker en per- manence le carbone capté (sauf pour la récupération (b) not acquired for the purpose of drilling or com- assistée du pétrole)); pleting an oil or gas well or in building...

AI summary The text discusses regulations related to the Income Tax Act and other legislation, specifically focusing on amendments to the Income Tax Regulations under Sections 95-96. It also references a class (CLASS 60) and mentions the Fall Economic Statement Implementation Act, 2023.

market value at that time of the consideration giv- contrepartie payée par le bénéficiaire du transfert en by the transferee for the transfer of the proper- pour le transfert du bien, ty, B le total des montants éventuels pour lesquels une...

AI summary The text outlines the calculation of market value and related tax assessments under various legislative provisions, including the Excise Tax Act, Customs Act, Income Tax Act, and Greenhouse Gas Pollution Pricing Act, focusing on amounts assessed and paid by the transferee and transferor.

the Act is 104 (1) Le sous-alinéa 238.1(2)c)(iii) de la même replaced by the following: loi est remplacé par ce qui suit : (iii) all amounts required under this Act (other (iii) les montants à verser ou à payer par l’inscrit than this Part...

AI summary This text outlines a legal amendment where specific tax and payment obligations under various Canadian Acts must be remitted or paid by the registrant before a specified time.

Excise Tax Act Loi sur la taxe d’accise Sections 106-108 Articles 106-108 Income Tax Act, the Air Travellers Security Charge Act, application de la présente loi, de la Loi de l’impôt sur le the Excise Act, 2001, the Underused Housing Tax A...

AI summary The text references several legislative acts including the Excise Tax Act, Income Tax Act, and others, which have been filed with the Minister. It also outlines the effective date of a subsection in relation to another subsection of the Act.

ion Act is replaced by the following: des finances publiques est remplacé par ce qui suit : (c) an amount owing by a person to Her Majesty in c) aux sommes à payer par toute personne à Sa Ma- right of Canada, or payable by the Minister of...

AI summary This text outlines the replacement of the Public Finance Act with specific provisions related to taxes and charges, including the Excise Tax Act, Income Tax Act, and various other tax-related legislation.

de la présente loi. R.S., c. 1 (2nd Supp.) L.R., ch. 1 (2e suppl.) Customs Act Loi sur les douanes 113 (1) The description of B in paragraph 113 (1) L’élément B de la formule figurant à l’ali- 97.29(1)(a) of the Customs Act is replaced by...

AI summary This text amends the Customs Act to redefine element B in paragraph 97.29(1)(a), which relates to the assessed transfer of property under various tax acts. The amendment specifies that B is the excess of the assessed amount over the amount paid by the transferor. The amendment takes effect on the same day as subsection 96(1) of this Act.

on 96(1) of this Act. d’entrée en vigueur du paragraphe 96(1) de la présente loi. R.S., c. 1 (5th Supp.) L.R., ch. 1 (5e suppl.) Income Tax Act Loi de l’impôt sur le revenu 114 (1) Paragraph 18(1)(t) of the Income Tax Act 114 (1) L’alinéa...

AI summary This text discusses amendments to the Income Tax Act, specifically modifying paragraph 18(1)(t) by adding a new subparagraph (vi) relating to interest under the Digital Services Tax Act. The amendment comes into force on the same day as paragraph 96(1) of the Act.

(1) de la présente loi. 2002, c. 9, s. 5 2002, ch. 9, art. 5 Air Travellers Security Charge Act Loi sur le droit pour la sécurité des passagers du transport aérien 118 (1) Subsection 40(4) of the Air Travellers Se- 118 (1) Le paragraphe 40...

AI summary This section of the Air Travellers Security Charge Act amends subsection 40(4) to require that refunds are not paid until all required returns and records are filed with the Minister under various acts, including the Excise Tax Act and the Income Tax Act.

utilisés, de la Loi sur la taxe sur certains biens de luxe et de la Loi sur la taxe sur les services numériques. (2) Subsection (1) comes into force on the same (2) Le paragraphe (1) entre en vigueur à la date day as subsection 96(1) of th...

AI summary This text contains legal provisions related to tax laws, specifically referencing the Excise Tax Act and the Income Tax Act, and modifies the description of B in a formula under section 297(1)(d) of the Act.

ms Tax Act Loi sur la taxe sur certains biens de luxe Sections 127-129 Articles 127-129 Restriction on payment by Minister Restriction visant les paiements par le ministre 94 An amount under section 92 or 93 is not to be paid to 94 Un mont...

AI summary This section of the Luxury Goods Tax Act restricts the payment of amounts by the Minister to a person unless all required tax returns have been filed with the Minister. The returns include those under various acts such as the Excise Tax Act, Income Tax Act, and the Greenhouse Gas Pollution Pricing Act.

128 (1) The description of B in paragraph 128 (1) L’élément B de la formule figurant à l’ali- 150(2)(d) of the Act is replaced by the following: néa 150(2)a) de la même loi est remplacé par ce qui suit : B is the amount, if any, by which t...

AI summary This text amends the description of element B in paragraph 150(2)(d) of the Act, defining it as the excess of the assessed amount paid by the transferee over the amount paid by the transferor, referencing various tax and customs acts.

(i) pour établir si un organisme de bienfaisance (i) whether a registered charity, as defined in sub- enregistré au sens du paragraphe 248(1) de la Loi section 248(1) of the Income Tax Act, has ceased to de l’impôt sur le revenu a cessé de...

AI summary The text discusses determining whether a registered charity under the Income Tax Act has ceased to comply with registration requirements and whether a person or entity suspected of applying for such registration is eligible.

- As noted in section 9.2.4 (Page 54), Long term income tax receivable. - a) Please provide particulars, by year, of the income tax receivable and interest. For greater certainty, please confirm that these amounts have been paid by rate pa...

AI summary The document requests detailed information on NSPI's long-term income tax receivable, including yearly breakdowns, payment status, and the resolution timeline for an ongoing tax dispute. It also asks for copies of legal filings and the anticipated treatment of any refunds.