Section 127 — Excise Tax Act: Associated persons

A particular corporation is associated with another corporation for the purposes of this Part if, by reason of subsections 256(1) to (6) of the Income Tax Act , the particular corporation is associated with the other corporation for the purposes of that Act. A person other than a corporation is associated with a particular corporation for the purposes of this Part if the particular corporation is controlled by the person or by a group of persons of which the person is a member and each of whom is associated with each of the others. For the purposes of this Part, a person is associated with a partnership if the total of the shares of the profits of the partnership to which the person and all other persons who are associated with the person are entitled is more than half of the total profits of the partnership, or would be more than half of the total profits of the partnership if it had profits; and a trust if the total of the values of the interests in the trust of the person and all other persons who are associated with the person is more than half of the total value of all interests in the trust. For the purposes of this Part, a person is associated with another person if each of them is associated with the same third person.