Income Tax Act
Sections and provisions with full text and the judgments that cite each one.
Section 210.3 — Where no designated beneficiaries
No tax is payable under this Part by a trust for a taxation year in respect of which the trustee has certified in the trust’s return under this Part for the year that no beneficiary under the trust…
Section 211 — Definitions
For the purposes of this Part, existing guaranteed life insurance policy , at any time, means a non-participating life insurance policy in Canada in respect of which the amount of every premium that…
Section 211.1 — Tax payable
Every life insurer shall pay a tax under this Part for each taxation year equal to 15% of its taxable Canadian life investment income for the year. For the purposes of this Part, the taxable Canadian…
Section 211.2 — Return
Every life insurer shall file with the Minister, not later than the day on or before which it is required by section 150 to file its return of income for a taxation year under Part I, a return of…
Section 211.3 — Instalments
Every life insurer shall, in respect of each of its taxation years, pay to the Receiver General on or before the last day of each month in the year, an amount equal to 1/12 of the lesser of the…
Section 211.4 — Payment of remainder of tax
Every life insurer shall pay, on or before its balance-due day for a taxation year, the remainder, if any, of the tax payable under this Part by the insurer for the year.
Section 211.5 — Provisions applicable to Part
Section 152, subsection 157(2.1), sections 158 and 159, subsections 161(1), 161(2), 161(2.1), 161(2.2) and 161(11), sections 162 to 167 and Division J of Part I apply to this Part, with such…
Section 211.6 — Definitions
The definitions in this section apply for the purposes of this Part. excluded trust , at any time, means a trust that relates at that time to the reclamation of a well; is not maintained at that time…
Section 211.7 — Definitions
The definitions in this section apply for the purposes of this Part. approved share has the meaning assigned by subsection 127.4(1). ( action approuvée ) labour-sponsored funds tax credit in respect…
Section 211.8 — Disposition of approved share
If an approved share of the capital stock of a registered labour-sponsored venture capital corporation or a revoked corporation is, before the first discontinuation of its venture capital business,…
Section 211.81 — Tax for failure to reacquire certain shares
If a particular amount is payable under a prescribed provision of a provincial law for a taxation year of an individual as determined for the purposes of that provincial law (referred to in this…
Section 211.82 — Return
Every person that is liable to pay tax under this Part for a taxation year shall, not later than the day on or before which the person is required by section 150 to file a return of income for the…
Section 211.9
[Repealed, 2013, c. 34, s. 346]
Section 211.91 — Tax imposed
Every corporation shall pay a tax under this Part in respect of each month (other than January) in a calendar year equal to the amount determined by the formula (A + B/2 - C - D/2) × (E/12 + F/10)…
Section 211.92 — Definitions
The following definitions apply in this Part and in section 127.44. actual eligible use percentage , in respect of a CCUS project, for a period means the amount, expressed as a percentage, determined…
Section 211.93 — Reporting requirements
A taxpayer shall if the taxpayer is a knowledge sharing taxpayer, submit in respect of each reporting period a knowledge sharing report to the Minister of Natural Resources on or before the…
Section 211.94 — Administration
Subsection 150(2) and (3), sections 152, 158, 159 and 161 to 167 and Division J of Part I apply to this Part, with such modification as the circumstances require, except that, in the application of…
Section 211.95 — Records and books
Every person required by section 230 to keep records and books of account on behalf of a taxpayer shall retain all records and books of account referred to in that section as are necessary to verify…
Section 212 — Tax
Every non-resident person shall pay an income tax of 25% on every amount that a person resident in Canada pays or credits, or is deemed by Part I to pay or credit, to the non-resident person as, on…
Section 212.1 — Non-arm’s length sales of shares by non-residents
Subsection (1.1) applies if a non-resident person disposes of shares (in this section referred to as the “subject shares”) of any class of the capital stock of a corporation resident in Canada (in…
Section 212.2 — Application
This section applies where a taxpayer disposes at a particular time of a share of the capital stock of a corporation resident in Canada (or any property more than 10% of the fair market value of…
Section 212.3 — Foreign affiliate dumping — conditions for application
Subsection (2) applies to an investment in a non-resident corporation (in this section referred to as the “subject corporation”) made at any time (in this section referred to as the “investment…
Section 213 — Tax non-payable by non-resident person
Tax is not payable by a non-resident person under subsection 212(2) on a dividend in respect of a share of the capital stock of a foreign business corporation if not less than 90% of the total of the…
Section 214 — No deductions
The tax payable under section 212 is payable on the amounts described therein without any deduction from those whatever. Where paragraph 16(1)(b) would, if Part I were applicable, result in a part of…
Section 215 — Withholding and remittance of tax
When a person pays, credits or provides, or is deemed to have paid, credited or provided, an amount on which an income tax is payable under this Part, or would be so payable if this Act were read…
Section 216 — Alternatives re rents and timber royalties
If an amount has been paid during a taxation year to a non-resident person or to a partnership of which that person was a member as, on account of, in lieu of payment of or in satisfaction of, rent…
Section 216.1 — Alternative re: acting services
No tax is payable under this Part on any amount described in subsection 212(5.1) that is paid, credited or provided to a non-resident person in a taxation year if the person files with the Minister,…
Section 217 — Alternative re Canadian benefits
In this section, a non-resident person’s “Canadian benefits” for a taxation year is the total of all amounts each of which is an amount paid or credited in the year and in respect of which tax under…
Section 218 — Loan to wholly-owned subsidiary
For the purposes of this Act, where a non-resident corporation (in this section referred to as the “parent corporation”) is indebted to a person resident in Canada, or a non-resident insurance…
Section 218.1 — Application of s. 138.1
In respect of life insurance policies for which all or any part of an insurer’s reserves vary in amount depending on the fair market value of a specified group of properties, the rules contained in…
Section 218.2 — Branch interest tax
Every authorized foreign bank shall pay a tax under this Part for each taxation year equal to 25% of its taxable interest expense for the year. The taxable interest expense of an authorized foreign…
Section 218.3 — Definitions
The following definitions apply in this Part. assessable distribution , in respect of a Canadian property mutual fund investment, means the portion of any amount that is paid or credited (otherwise…
Section 219 — Additional tax
Every corporation that is non-resident in a taxation year shall, on or before its balance-due day for the year, pay a tax under this Part for the year equal to 25% of the amount, if any, by which the…
Section 219.1 — Corporate emigration
If a taxation year of a corporation (in this subsection and subsection (2) referred to as the “emigrating corporation”) is deemed by paragraph 128.1(4)(a) to have ended at any time, the emigrating…
Section 219.2 — Limitation on rate of branch tax
Notwithstanding any other provision of this Act, where an agreement or convention between the Government of Canada and the government of another country that has the force of law in Canada does not…
Section 219.3 — Effect of tax treaty
For the purpose of section 219.1, where an agreement or convention between the Government of Canada and the government of another country that has the force of law in Canada provides that the rate of…
Section 220 — Minister’s duty
The Minister shall administer and enforce this Act and the Commissioner of Revenue may exercise all the powers and perform the duties of the Minister under this Act. Such officers, clerks and…
Section 221 — Regulations
The Governor in Council may make regulations prescribing anything that, by this Act, is to be prescribed or is to be determined or regulated by regulation; prescribing the evidence required to…
Section 221.01 — Providing information returns in electronic format
A person may provide an information return electronically under subsection 209(5) of the Income Tax Regulations if the criteria specified by the Minister are met.
Section 221.1 — Application of interest
For greater certainty, where an amendment to this Act or an amendment or enactment that relates to this Act applies to or in respect of any transaction, event or time, or any taxation year, fiscal…
Section 221.2 — Re-appropriation of amounts
Where a particular amount was appropriated to an amount (in this section referred to as the “debt”) that is or may become payable by a person under any enactment referred to in paragraphs 223(1)(a)…
Section 222 — Definitions
The following definitions apply in this section. action means an action to collect a tax debt of a taxpayer and includes a proceeding in a court and anything done by the Minister under subsection…
Section 222.1 — Court costs
Where an amount is payable by a person to Her Majesty because of an order, judgment or award of a court in respect of the costs of litigation relating to a matter to which this Act applies,…
Section 223 — Definition of amount payable
For the purposes of subsection 223(2), an amount payable by a person means any or all of an amount payable under this Act by the person; an amount payable under the Employment Insurance Act by the…
Section 223.1 — Application of ss. 223(1) to (8) and (12)
Subsections 223(1) to 223(8) and 223(12) are applicable with respect to certificates made under section 223 or section 223 of the Income Tax Act , chapter 148 of the Revised Statutes of Canada, 1952,…
Section 224 — Garnishment
Where the Minister has knowledge or suspects that a person is, or will be within one year, liable to make a payment to another person who is liable to make a payment under this Act (in this…
Section 224.1 — Recovery by deduction or set-off
Where a person is indebted to Her Majesty under this Act or under an Act of a province with which the Minister of Finance has entered into an agreement for the collection of the taxes payable to the…
Section 224.2 — Acquisition of debtor’s property
For the purpose of collecting debts owed by a person to Her Majesty under this Act or under an Act of a province with which the Minister of Finance has entered into an agreement for the collection of…
Section 224.3 — Payment of moneys seized from tax debtor
Where the Minister has knowledge or suspects that a particular person is holding moneys that were seized by a police officer in the course of administering or enforcing the criminal law of Canada…
Section 225 — Seizure of goods, chattels or movable property
If a person has failed to pay an amount as required by this Act, the Minister may give 30 days notice to the person by registered mail addressed to the person’s latest known address of the Minister’s…