Income Tax Act
Sections and provisions with full text and the judgments that cite each one.
Section 187.7 — Application of s. 149.1(1)
The definitions in subsection 149.1(1) apply to this Part.
Section 188 — Deemed year-end on notice of revocation
If on a particular day the Minister issues a notice of intention to revoke the registration of a taxpayer as a registered charity under any of subsections 149.1(2) to (4.1) and 168(1), it becomes a…
Section 188.1 — Penalty — carrying on business
Subject to subsection (2), a person is liable to a penalty under this Part equal to 5% of its gross revenue for a taxation year from any business that it carries on in the taxation year, if the…
Section 188.2 — Notice of suspension with assessment
The Minister shall, with an assessment referred to in this subsection, give notice by registered mail to a registered charity, registered Canadian amateur athletic association or registered…
Section 189 — Tax regarding non-qualified investment
Where at any particular time in a taxation year a debt (other than a debt in respect of which subsection 80.4(1) applies or would apply but for subsection 80.4(3)) is owing by a taxpayer to a…
Section 190 — Definitions
For the purposes of this Part, contractual service margin for a group of insurance contracts of an insurer, or a group of reinsurance contracts held by the insurer, at the end of a taxation year, has…
Section 190.1 — Tax payable
Every corporation that is a financial institution at any time during a taxation year shall pay a tax under this Part for the year equal to 1.25% of the amount, if any, by which its taxable capital…
Section 190.11 — Taxable capital employed in Canada
For the purposes of this Part, the taxable capital employed in Canada of a financial institution for a taxation year is, in the case of a financial institution other than a life insurance…
Section 190.12 — Taxable capital
For the purposes of this Part, the taxable capital of a corporation for a taxation year is the amount, if any, by which its capital for the year exceeds the total determined under section 190.14 in…
Section 190.13 — Capital
For the purposes of this Part, the capital of a financial institution for a taxation year is, in the case of a financial institution, other than an authorized foreign bank or a life insurance…
Section 190.14 — Investment in related institutions
A corporation’s investment for a taxation year in a financial institution related to it is in the case of a corporation that was resident in Canada at any time in the year, the total of all amounts…
Section 190.15 — Capital deduction
For the purposes of this Part, the capital deduction of a corporation for a taxation year during which it was at any time a financial institution is $1 billion unless the corporation was related to…
Section 190.16
[Repealed, 2013, c. 34, s. 331]
Section 190.17
[Repealed, 2007, c. 2, s. 42]
Section 190.2 — Return
A corporation that is or would, but for subsection 190.1(3), be liable to pay tax under this Part for a taxation year shall file with the Minister, not later than the day on or before which the…
Section 190.21 — Provisions applicable to Part
Sections 152, 158 and 159, subsection 161(11), sections 162 to 167 and Division J of Part I apply to this Part with such modifications as the circumstances require and, for the purpose of this…
Section 190.211 — Provisions applicable -- Crown corporations
Section 27 applies to this Part with any modifications that the circumstances require.
Section 190.22
[Repealed, 1994, c. 7, s. 114(1)]
Section 190.23
[Repealed, 1994, c. 7, Sch. VIII, s. 114(1)]
Section 190.24
[Repealed, 1994, c. 7, Sch. VIII, s. 114(1)]
Section 191 — Definitions
In this Part, excluded dividend means a dividend paid by a corporation to a shareholder that had a substantial interest in the corporation at the time the dividend was paid, paid by a corporation…
Section 191.1 — Tax on taxable dividends
Every taxable Canadian corporation shall pay a tax under this Part for each taxation year equal to the amount, if any, by which the total of the amount determined by multiplying the amount by which…
Section 191.2 — Election
For the purposes of determining the tax payable by reason of subparagraphs 191.1(1)(a)(ii) and 191.1(1)(a)(iii), a taxable Canadian corporation (other than a financial intermediary corporation or a…
Section 191.3 — Agreement respecting liability for tax
Where a corporation (in this section referred to as the “transferor corporation”) and a taxable Canadian corporation (in this section referred to as the “transferee corporation”) that was related…
Section 191.4 — Information return
Every corporation that is or would, but for section 191.3, be liable to pay tax under this Part for a taxation year shall, not later than the day on or before which it is required by section 150 to…
Section 191.5 — Definition
The following definition applies in this Part. bank or life insurer group member means a corporation that is a bank; a life insurance corporation that carries on business in Canada; or a financial…
Section 191.6 — Administrative provisions — Part VI.2
Sections 152, 158 and 159, subsection 161(11), sections 162 to 167 and Division J of Part I apply to this Part with such modifications as the circumstances require.
Section 192 — Corporation to pay tax
Every corporation shall pay a tax under this Part for a taxation year equal to the total of all amounts each of which is an amount designated under subsection 192(4) in respect of a share issued by…
Section 193 — Corporation to file return
Every corporation that is liable to pay tax under this Part for a taxation year shall, on or before the day on or before which it is required to file its return of income under Part I for the year,…
Section 194 — Corporation to pay tax
Every corporation shall pay a tax under this Part for a taxation year equal to 50% of the total of all amounts each of which is an amount designated under subsection 194(4) in respect of a share or…
Section 195 — Corporation to file return
Every corporation that is liable to pay tax under this Part for a taxation year shall, on or before the day on or before which it is required to file its return of income under Part I for the year,…
Section 196 — Tax in respect of cumulative offset account
Every corporation shall pay a tax under this Part for each taxation year equal to 30% of the amount deducted under subsection 66.5(1) in computing its income for the year. Every corporation that is…
Section 197 — Definitions
The following definitions apply in this Part and in section 96. non-portfolio earnings , of a SIFT partnership for a taxation year, means the total of the amount, if any, by which the total of all…
Section 198 — Tax on non-qualified investments and use of assets as security
Every trust governed by a deferred profit sharing plan or revoked plan that acquires a non-qualified investment, or uses or permits to be used any property of the trust as security for a loan, shall…
Section 199 — Tax on initial non-qualified investments not disposed of
Every trust governed by a deferred profit sharing plan or revoked plan shall pay a tax for 1967, equal to the amount, if any, by which 20% of the initial base of the trust exceeds the proceeds of…
Section 200 — Distribution deemed disposition
For the purposes of this Part, a distribution by a trust of a non-qualified investment to a beneficiary of the trust shall be deemed to be a disposition of that non-qualified investment and the…
Section 201 — Tax where inadequate consideration on purchase or sale
Every trust governed by a deferred profit sharing plan or a revoked plan shall, for each calendar year after 1990, pay a tax equal to 50% of the total of all amounts each of which is, by reason of…
Section 202 — Returns and payment of estimated tax
Within 90 days from the end of each year after 1965, a trustee of every trust governed by a deferred profit sharing plan or revoked plan shall file with the Minister a return for the year under this…
Section 203 — Application to other taxes
Instead of making a refund to which a trust is entitled under subsection 198(4) or 198(5) or 199(2), the Minister may, where the trust is liable or about to become liable to make another payment…
Section 204 — Definitions
In this Part, debt obligation means a bond, debenture, note or similar obligation; ( titre de créance ) equity share means a share, other than an excluded share or a non-participating share, the…
Section 204.1 — Tax payable by individuals
Where, at the end of any month after May, 1976, an individual has an excess amount for a year in respect of registered retirement savings plans, the individual shall, in respect of that month, pay a…
Section 204.2 — Definition of excess amount for a year in respect of registered retirement savings plans
Excess amount for a year in respect of registered retirement savings plans of an individual at a particular time means, where the excess amount is for a year after 1990, nil; and where the excess…
Section 204.3 — Return and payment of tax
Within 90 days after the end of each year after 1975, a taxpayer to whom this Part applies shall file with the Minister a return for the year under this Part in prescribed form and containing…
Section 204.4 — Definition of registered investment
In this Part, registered investment means a trust or a corporation that has applied in prescribed form as of a particular date in the year of application and has been accepted by the Minister as of…
Section 204.5 — Publication
Each year the Minister shall make available to the public, in such a manner as the Minister deems appropriate, the names of all registered investments as of December 31 of the preceding year.
Section 204.6 — Tax payable
If at the end of any month a taxpayer that is a registered investment described in paragraph 204.4(2)(b), (d) or (f) holds property that is not a prescribed investment for that taxpayer, it shall, in…
Section 204.7 — Return and payment of tax
Within 90 days from the end of each taxation year commencing after 1980, a registered investment shall file with the Minister a return for the year under this Part in prescribed form and containing…
Section 204.8 — Definitions
In this Part, annuitant has the meaning assigned by subsection 146(1); ( rentier ) eligible business entity , at any time, means a particular entity that is a prescribed corporation, or a Canadian…
Section 204.81 — Conditions for registration
The Minister may register a corporation for the purposes of this Part if the corporation’s application for registration was received before March 21, 2013 and if, in the opinion of the Minister, it…
Section 204.82 — Recovery of credit
Where, at any time that is both in a taxation year included in the start-up period of a corporation that was registered under this Part and before its venture capital business is first discontinued,…