Income Tax Act
Sections and provisions with full text and the judgments that cite each one.
Section 146.5 — Definitions
The following definitions apply in this section. advanced life deferred annuity means a contract for an annuity that meets the following conditions: it is issued by a licensed annuities provider; it…
Section 146.6 — Definitions
The following definitions apply in this section. annual FHSA limit of a taxpayer for a taxation year is the least of the amount determined by the formula A + B − C where A is the total of all…
Section 147 — Definitions
In this section, deferred profit sharing plan means a profit sharing plan accepted by the Minister for registration for the purposes of this Act, on application therefor in prescribed manner by a…
Section 147.1 — Definitions
In this section and sections 147.2 and 147.3, actuary means a Fellow of the Canadian Institute of Actuaries; ( actuaire ) administrator of a pension plan means the person or body of persons that has…
Section 147.2 — Pension contributions deductible — employer contributions
For a taxation year ending after 1990, there may be deducted in computing the income of a taxpayer who is an employer the total of all amounts each of which is a contribution made by the employer…
Section 147.3 — Transfer — money purchase to money purchase, RRSP or RRIF
An amount is transferred from a registered pension plan in accordance with this subsection if the amount is a single amount; is transferred on behalf of a member in full or partial satisfaction of…
Section 147.4 — RPP annuity contract
Where at any time an individual acquires, in full or partial satisfaction of the individual’s entitlement to benefits under a registered pension plan, an interest in an annuity contract (other than…
Section 147.5 — Definitions
The following definitions apply in this section. administrator , of a pooled pension plan, means a corporation resident in Canada that is responsible for the administration of the plan and that is…
Section 148 — Amounts included in computing policyholder’s income
There shall be included in computing the income for a taxation year of a policyholder in respect of the disposition of an interest in a life insurance policy, other than a policy that is or is issued…
Section 148.1 — Definitions
In this section, cemetery care trust means a trust established pursuant to an Act of a province for the care and maintenance of a cemetery; ( fiducie pour l’entretien d’un cimetière ) cemetery…
Section 149 — Miscellaneous exemptions
No tax is payable under this Part on the taxable income of a person for a period when that person was an officer or servant of the government of a country other than Canada whose duties require that…
Section 149.01
[Repealed, 2017, c. 12, s. 12]
Section 149.1 — Definitions
In this section and section 149.2, Canadian amateur athletic association means an association that was created under any law in force in Canada, is resident in Canada, has no part of its income…
Section 149.2 — Material and insignificant interests
In this section and section 149.1, a person has, at any time, a material interest in respect of a class of shares of the capital stock of a corporation if, at that time, the percentage of the shares…
Section 150 — Filing returns of income — general rule
Subject to subsection (1.1), a return of income that is in prescribed form and that contains prescribed information shall be filed with the Minister, without notice or demand for the return, for each…
Section 150.1 — Definition of electronic filing
For the purposes of this section, electronic filing means using electronic media in a manner specified in writing by the Minister. A person who meets the criteria specified in writing by the Minister…
Section 151 — Estimate of tax
Every person required by section 150 to file a return of income shall in the return estimate the amount of tax payable.
Section 152 — Assessment
The Minister shall, with all due dispatch, examine a taxpayer’s return of income for a taxation year, assess the tax for the year, the interest and penalties, if any, payable and determine the amount…
Section 153 — Withholding
Every person paying at any time in a taxation year salary, wages or other remuneration, other than amounts described in subsection 212(5.1), and amounts paid at any time by an employer to an employee…
Section 154 — Agreements providing for tax transfer payments
The Minister may, with the approval of the Governor in Council, enter into an agreement with the government of a province to provide for tax transfer payments and the terms and conditions relating to…
Section 155 — Farmers and fishermen
Subject to section 156.1, every individual whose chief source of income for a taxation year is farming or fishing shall, on or before December 31 in the year, pay to the Receiver General in respect…
Section 156 — Other individuals
Subject to section 156.1, in respect of each taxation year every individual (other than one to whom section 155 applies for the year) shall pay to the Receiver General on or before March 15, June 15,…
Section 156.1 — Definitions
For the purposes of this section, instalment threshold of an individual for a taxation year means in the case of an individual resident in the Province of Quebec at the end of the year, $1,800, and…
Section 157 — Payment by corporation
Subject to subsections (1.1) and (1.5), every corporation shall, in respect of each of its taxation years, pay to the Receiver General either on or before the last day of each month in the year, an…
Section 157.1 — Instalment deferral for January, February and March 2002 - definitions
The following definitions apply in this section. eligible corporation , for a particular taxation year, means a corporation that is resident in Canada throughout the particular taxation year; and of…
Section 158 — Payment of remainder
Where the Minister mails a notice of assessment of any amount payable by a taxpayer, that part of the amount assessed then remaining unpaid is payable forthwith by the taxpayer to the Receiver…
Section 159 — Person acting for another
For the purposes of this Act, where a person is a legal representative of a taxpayer at any time, the legal representative is jointly and severally, or solidarily, liable with the taxpayer to pay…
Section 160 — Interpretation
In this section and section 160.01, a transaction includes an arrangement or event. Where a person has, on or after May 1, 1951, transferred property, either directly or indirectly, by means of a…
Section 160.01 — Definitions
The following definitions apply in this section. gross entitlements of a person at any time, in respect of a planning activity of the person, means all amounts to which the person, or another person…
Section 160.1 — Where excess refunded
Where at any time the Minister determines that an amount has been refunded to a taxpayer for a taxation year in excess of the amount to which the taxpayer was entitled as a refund under this Act, the…
Section 160.2 — Joint and several liability in respect of amounts received out of or under RRSP
Where an amount is received out of or under a registered retirement savings plan by a taxpayer other than an annuitant (within the meaning assigned by subsection 146(1)) under the plan, and that…
Section 160.21 — Joint and several liability — registered disability savings plan
Where, in computing income for a taxation year, a taxpayer is required to include an amount in respect of a disability assistance payment (as defined in subsection 146.4(1)) that is deemed by…
Section 160.3 — Liability in respect of amounts received out of or under RCA trust
If an amount required to be included in the income of a taxpayer because of paragraph 56(1)(x) is received by a person with whom the taxpayer is not dealing at arm’s length, that person is jointly…
Section 160.4 — Liability in respect of transfers by insolvent corporations
If property is transferred at any time by a corporation to a taxpayer with whom the corporation does not deal at arm’s length at that time and the corporation is not entitled because of subsection…
Section 160.5 — 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…
Section 161 — General
Where at any time after a taxpayer’s balance-due day for a taxation year the total of the taxpayer’s taxes payable under this Part and Parts I.3, VI, VI.1 and VI.2 (determined in accordance with…
Section 161.1 — Definitions
The definitions in this subsection apply in this section. accumulated overpayment amount , of a corporation for a period, means the overpayment amount of the corporation for the period together with…
Section 161.2 — Period where interest not payable
Notwithstanding any other provision of this Act, if the Minister notifies a taxpayer that the taxpayer is required to pay a specified amount under this Act and the taxpayer pays the specified amount…
Section 161.3 — Interest and penalty amounts of $25 or less
If, at any time, a person pays an amount not less than the total of all amounts, other than interest and penalty, owing at that time to Her Majesty in right of Canada under this Act for a taxation…
Section 161.4 — Taxpayer
If the Minister determines, at any time, that the total of all amounts owing by a person to Her Majesty in right of Canada under this Act does not exceed two dollars, those amounts are deemed to be…
Section 162 — Failure to file return of income
Every person who fails to file a return of income for a taxation year as and when required by subsection 150(1) is liable to a penalty equal to the total of an amount equal to 5% of the person’s tax…
Section 163 — Repeated failure to report income
Every person is liable to a penalty who fails to report an amount, equal to or greater than $500, required to be included in computing the person’s income in a return filed under section 150 for a…
Section 163.1 — Penalty for late or deficient instalments
Every person who fails to pay all or any part of an instalment of tax for a taxation year on or before the day on or before which the instalment is required by this Part to be paid is liable to a…
Section 163.2 — Definitions
The definitions in this subsection apply in this section. culpable conduct means conduct, whether an act or a failure to act, that is tantamount to intentional conduct; shows an indifference as to…
Section 163.3 — Definitions
The following definitions apply in this section. electronic cash register means a device that keeps a register or supporting documents through the means of an electronic device or computer system…
Section 164 — Refunds
If the return of a taxpayer’s income for a taxation year has been made within 3 years from the end of the year, the Minister may, before sending the notice of assessment for the year, where the…
Section 164.1
[Repealed, 1994, c. 7, Sch. VII, s. 19]
Section 165 — Objections to assessment
A taxpayer who objects to an assessment under this Part may serve on the Minister a notice of objection, in writing, setting out the reasons for the objection and all relevant facts, if the…
Section 166 — Irregularities
An assessment shall not be vacated or varied on appeal by reason only of any irregularity, informality, omission or error on the part of any person in the observation of any directory provision of…
Section 166.1 — Extension of time by Minister
Where no notice of objection to an assessment has been served under section 165, nor any request under subsection 245(6) made, within the time limited by those provisions for doing so, the taxpayer…