Section 160.5 — Income Tax Act: Definitions

The following definitions apply in this section. designated financial institution has the same meaning as in subsection 153(6). ( institution financière désignée ) electronic payment means any payment or remittance to the Receiver General that is made through electronic services offered by a designated financial institution or by any electronic means specified by the Minister. ( paiement électronique ) The remittance or payment of an amount to the Receiver General must be made as an electronic payment if the amount of the remittance or payment exceeds $10,000, unless the payor or remitter cannot reasonably remit or pay the amount in that manner.