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Important Note
Update Notice
Enabling Statute: Income Tax Act
Income Tax Regulations (C.R.C., c. 945)
Disclaimer: These documents are not the official versions (more).
Regulation current to October 23rd, 2007
Attention: See coming into force provision and notes, where applicable.
 
Table of contents
  1. Income Tax Regulations
    1. SHORT TITLE
    2. INTERPRETATION
    3. PART I : TAX DEDUCTIONS
      1. Interpretation
      2. Deductions and Remittances
      3. Periodic Payments
      4. Non-Periodic Payments
      5. Deductions Not Required
      6. Lifelong Learning Plan
      7. Non-Residents
      8. Fishermen’s Election
      9. Variations in Deductions
      10. Employee’s Returns
      11. Remittances to Receiver General
      12. Elections to Increase Deductions
      13. Prescribed Persons
    5. PART II : INFORMATION RETURNS
      1. Remuneration and Benefits
      2. Investment Income
      3. Payments to Non-Residents
      4. Estates and Trusts
      5. Date Returns to be Filed
      6. Electronic Filing
      7. Legal Representatives and Others
      8. Ownership Certificates
      9. Dispositions of Income-Averaging Annuity Contracts
      10. Distribution of Taxpayers Portions of Returns
      11. Tax Deduction Information
      12. Accrued Bond Interest
      13. Employees Profit Sharing Plans
      14. Electric, Gas or Steam Corporations
      15. Registered Retirement Savings Plans
      16. Registered Retirement Income Funds
      17. Registered Canadian Amateur Athletic Associations
      18. Dispositon of Interest in Annuities and Life Insurance Policies
      19. Patronage Payments
      20. Cash Bonus Payments on Canada Savings Bonds
      21. Qualified Investments
      22. Registered Home Ownership Savings Plans
      23. Canadian Home Insulation Program and Canada Oil Substitution Program
      24. Certified Films and Video Tapes
      25. Scientific Research Tax Credits
      26. Share Purchase Tax Credits
      27. Resource Flow-Through Shares
      28. Partnership Return
      29. Security Transactions
      30. Information Respecting Tax Shelters
      31. Worker’s Compensation
      32. Social Assistance
      33. Farm Support Payments
      34. Identifier Information
      35. Contract for Goods and Services
      36. Reporting of Payments in respect of Construction Activities
    7. PART III : ANNUITIES AND LIFE INSURANCE POLICIES
      1. Capital Element of Annuity Payments
      2. Life Annuity Contracts
      3. Prescribed Annuity Contracts
      4. Unallocated Income Accrued Before 1982
      5. Exempt Policies
      6. Accumulating Funds
      7. Net Cost of Pure Insurance and Mortality Gains And Losses
      8. Prescribed Premiums and Prescribed Increases
      9. Interpretation
    9. PART IV : TAXABLE INCOME EARNED IN A PROVINCE BY A CORPORATION
      1. Interpretation
      2. Computation of Taxable Income
      3. General Rules
      4. Transitional — Taxable Income Earned in the 1978 Taxation Year in the Northwest Territories
      5. Transitional — Taxable Income Earned in the 1980 Taxation Year in the Yukon Territory
      6. Insurance Corporations
      7. Chartered Banks
      8. Trust and Loan Corporations
      9. Railway Corporations
      10. Airline Corporations
      11. Grain Elevator Operators
      12. Bus and Truck Operators
      13. Ship Operators
      14. Pipeline Operators
      15. Divided Businesses
      16. Non-Resident Corporations
      17. Nova Scotia Offshore Area
    11. PART V : NON-RESIDENT-OWNED INVESTMENT CORPORATIONS
      1. Elections
      2. Elections Revoked
      3. Certificates of Changes of Ownership
    13. PART VI : ELECTIONS
    14. PART VII : LOGGING TAXES ON INCOME
      1. Logging
    16. PART VIII : NON-RESIDENT TAXES
      1. Registered Non-Resident Insurers
      2. Filing of Returns by Non-Resident Insurers
      3. Amounts Taxable
      4. Payment of Tax by Non-Resident Insurers
      5. Interpretation
      6. Other Non-Resident Persons
      7. International Organizations and Agencies
      8. Prescribed Obligation
      9. Identification of Obligations
      10. Allowances in Respect of Investment in Property in Canada
      11. Reduction of Certain Amounts to be Deducted or Withheld
      12. Excluded Property of Non-Resident Persons
    18. PART IX :
    19. PART X : ELECTIONS IN RESPECT OF DECEASED TAXPAYERS
      1. Property Dispositions
      2. Realization of Options
      3. Annual Instalments
    21. PART XI : CAPITAL COST ALLOWANCES
      1. Division I : Deductions Allowed
      2. Division II : Separate Classes
      3. Division III : Property Rules
      4. Division IV : Inclusions In and Transfers Between Classes
      5. Division V : Interpretation
      6. Division VI : Classes Prescribed
      7. Division VII : Certificates Issued by the Minister of Canadian Heritage
      8. Division VIII : Determination of Viscosity and Density
    23. PART XII : RESOURCE AND PROCESSING ALLOWANCES
      1. Earned Depletion Allowances
      2. Mining Exploration Depletion
      3. Resource Profits
      4. Earned Depletion Base
      5. Interpretation
      6. Frontier Exploration Allowances
      7. Additional Allowances in Respect of Certain Oil or Gas Wells
      8. Additional Allowances in Respect of Certain Mines
      9. Resource Allowance
      10. Prescribed Amounts
      11. Supplementary Depletion Allowances
      12. Prescribed Deductions
      13. Amalgamations and Windings-Up
      14. Prescribed Persons
      15. Prescribed Canadian Exploration Expense
      16. Prescribed Canadian Development Expense
      17. Canadian Renewable and Conservation Expense
    25. PART XIII : ELECTIONS IN RESPECT OF TAXPAYERS CEASING TO BE RESIDENT IN CANADA
      1. Elections to Defer Capital Gains
      2. Elections to Defer Payment of Taxes
      3. Elections to Realize Capital Gains
    27. PART XIV : INSURANCE BUSINESS POLICY RESERVES
      1. Division 1 : Policy Reserves
      2. Division 2 : Policy Reserves for Pre-1996 Policies
      3. Division 3 : Special Rules
      4. Division 4 : Policy Reserves For Post-1995 Policies
      5. Division 5 : Interpretation
    29. PART XV : PROFIT SHARING PLANS
      1. Division I : Employees Profit Sharing Plans
      2. Division II : Deferred Profit Sharing Plans
      3. Division III : Elections in Respect of Certain Single Payments
    31. PART XVI : PRESCRIBED COUNTRIES
    32. PART XVII : CAPITAL COST ALLOWANCES, FARMING AND FISHING
      1. Division I : Deductions Allowed
      2. Division II : Maximum Deductions
      3. Division III : Property Not Included
      4. Division IV : Interpretation
      5. Division V : Application of this Part
    34. PART XVIII : INVENTORIES
      1. Manner of Keeping Inventories
      2. Valuation
      3. Valuation of Animals
    36. PART XIX : INVESTMENT INCOME TAX
      1. Interpretation
    38. PART XX : POLITICAL CONTRIBUTIONS
      1. Contents of Receipts
      2. Information Returns
      3. Interpretation
    40. PART XXI : ELECTIONS IN RESPECT OF SURPLUSES
      1. Reduction of Tax-Paid Undistributed Surplus on Hand or 1971 Capital Surplus on Hand
      2. Capital Dividends and Life Insurance Capital Dividends Payable by Private Corporations
      3. Tax on 1971 Undistributed Income on Hand
      4. Capital Gains Dividends Payable by Mutual Fund Corporations, Investment Corporations and Mortgage Investment Corporations
      5. Capital Gains Dividends Payable by Non-Resident-Owned Investment Corporations
      6. Alternative to Additional Tax on Excessive Elections
      7. Tax-deferred Preferred Series
    42. PART XXII : SECURITY INTERESTS
    43. PART XXIII : PRINCIPAL RESIDENCES
    44. PART XXIV : INSURERS
      1. Definitions
      2. Designated Insurance Property
      3. Income from Participating Life Insurance Businesses
      4. Branch Tax Elections
      5. Currency Conversions
      6. Interpretation
      7. 1977 Excess Policy Dividend Deduction
      8. 1977 Carryforward Deduction
      9. Transitional
      10. Prescribed Amount
      11. Mean Canadian Investment Fund
    46. PART XXV : SPECIAL T1 TAX TABLE FOR INDIVIDUALS
    47. PART XXVI : INCOME EARNED IN A PROVINCE BY AN INDIVIDUAL
      1. Interpretation
      2. Residents of Canada
      3. Non-Residents
      4. Income from Business
      5. Bus and Truck Operators
      6. More Than One Business
      7. Limitations of Business Income
      8. Dual Residence
      9. Sift Trusts
    49. PART XXVII : GROUP TERM LIFE INSURANCE BENEFITS
      1. Definitions & Interpretation
      2. Prescribed Benefit
      3. Term Insurance Benefit
      4. Prepaid Insurance Benefit
      5. Employee-Paid Insurance
      6. Prescribed Premium and Insurance
    51. PART XXVIII : ELECTIONS IN RESPECT OF ACCUMULATING INCOMES OF TRUSTS
    52. PART XXIX : SCIENTIFIC RESEARCH AND EXPERIMENTAL DEVELOPMENT
      1. Interpretation
      2. Prescribed Expenditures
      3. Special-Purpose Buildings
    54. PART XXX : COMMUNICATION OF INFORMATION TO PROVINCES
      1. Communication of Information
      2. Prescribed Laws of the Province of Quebec
    56. PART XXXI : [Repealed, SOR/84-948, s. 11]
    57. PART XXXII : PRESCRIBED STOCK EXCHANGES AND CONTINGENCY FUNDS
      1. Stock Exchanges in Canada
      2. Stock Exchanges Outside Canada
      3. Contingency Funds
    59. PART XXXIII : TAX TRANSFER PAYMENTS
    60. PART XXXIV : INTERNATIONAL DEVELOPMENT ASSISTANCE PROGRAMS
    61. PART XXXV : RECEIPTS FOR DONATIONS AND GIFTS
      1. Interpretation
      2. Contents of Receipts
      3. Employees’ Charity Trusts
      4. Universities Outside Canada
      5. Prescribed Donees
    63. PART XXXVI : RESERVES FOR SURVEYS
    64. PART XXXVII : CHARITABLE FOUNDATIONS
      1. Interpretation
      2. Disbursement Quota
      3. Determination of Value
    66. PART XXXVIII : SOCIAL INSURANCE NUMBER APPLICATIONS
    67. PART XXXIX : MINING TAXES
    68. PART XL : BORROWED MONEY COSTS
      1. Interest on Insurance Policy Loans
    70. PART XLI : REPRESENTATION EXPENSES
    71. PART XLII : VALUATION OF ANNUITIES AND OTHER INTERESTS
    72. PART XLIII : INTEREST RATES
      1. Interpretation
      2. Prescribed Rate of Interest
    74. PART XLIV : PUBLICLY-TRADED SHARES OR SECURITIES
    75. PART XLV : ELECTIONS IN RESPECT OF EXPROPRIATION ASSETS
    76. PART XLVI : INVESTMENT TAX CREDIT
      1. Qualified Property
      2. Qualified Transportation Equipment
      3. Certified Property
      4. Qualified Construction Equipment
      5. Approved Project Property
      6. Prescribed Activities
      7. Prescribed Amount
      8. Prescribed Designated Regions
      9. Prescribed Expenditure for Qualified Canadian Exploration Expenditure
      10. Prescribed Offshore Region
      11. Prescribed Area
    78. PART XLVII : ELECTION IN RESPECT OF CERTAIN PROPERTY OWNED ON DECEMBER 31, 1971
    79. PART XLVIII : STATUS OF CORPORATIONS AND TRUSTS
    80. PART XLIX : DEFERRED INCOME PLANS
      1. Qualified Investments
      2. Interpretation
    82. PART L :
    83. PART LI : DEFERRED INCOME PLANS, INVESTMENTS IN SMALL BUSINESS
    84. PART LII : CANADIAN MANUFACTURING AND PROCESSING PROFITS
      1. Basic Formula
      2. Small Manufacturers’ Rule
      3. Interpretation
      4. Resource Income
      5. Partnerships
    86. PART LIII : INSTALMENT BASE
      1. Individuals
      2. Corporations Under Part I of the Act
    88. PART LIV : DEBTOR’S GAINS ON SETTLEMENT OF DEBTS
    89. PART LV : PRESCRIBED PROGRAMS AND BENEFITS
      1. Canadian Home Insulation Program
      2. Canada Oil Substitution Program
      3. Benefits under Government Assistance Programs
    91. PART LVI : PRESCRIBED DISTRIBUTIONS
    92. PART LVII : MEDICAL DEVICES AND EQUIPMENT
    93. PART LVIII : RETENTION OF BOOKS AND RECORDS
    94. PART LIX : FOREIGN AFFILIATES
      1. Dividends out of Exempt, Taxable and Pre-Acquisition Surplus
      2. Order of Surplus Distributions
      3. Election in Respect of Capital Gains
      4. Deductible Loss
      5. Participating Percentage
      6. Special Rules
      7. Carrying on Business in a Country
      8. Interpretation
      9. Prescribed Circumstances
    96. PART LX : PRESCRIBED ACTIVITIES
    97. PART LXI : RELATED SEGREGATED FUND TRUSTS
    98. PART LXII : PRESCRIBED SECURITIES, SHARES AND DEBT OBLIGATIONS
      1. Prescribed Securities
      2. Prescribed Shares
    100. PART LXIII : CHILD TAX BENEFITS
      1. Interpretation
      2. Non-Application of Presumption
      3. Factors
    102. PART LXIV : PRESCRIBED DATES
      1. Child Tax Credits
      2. Quebec Tax Abatement
    104. PART LXV : PRESCRIBED LAWS
    105. PART LXVI : PRESCRIBED ORDER
    106. PART LXVII : PRESCRIBED VENTURE CAPITAL CORPORATIONS, LABOUR-SPONSORED VENTURE CAPITAL CORPORATIONS, INVESTMENT CONTRACT CORPORATIONS, QUALIFYING CORPORATIONS AND PRESCRIBED STOCK SAVINGS PLANS
    107. PART LXVIII : PRESCRIBED PLANS, ARRANGEMENTS AND CONTRIBUTIONS
      1. Contributions to Foreign Plans
    109. PART LXIX : PRESCRIBED OFFSHORE INVESTMENT FUND PROPERTIES
    110. PART LXX : ACCRUED INTEREST ON DEBT OBLIGATIONS
      1. Indexed Debt Obligations
    112. PART LXXI : PRESCRIBED FEDERAL CROWN CORPORATIONS
    113. PART LXXII : [Repealed, SOR/2001-295, s. 5]
    114. PART LXXIII : PRESCRIBED AMOUNTS AND AREAS
    115. PART LXXIV : PRESCRIBED FOREST MANAGEMENT PLANS FOR WOODLOTS
    116. PART LXXV : [Repealed, SOR/2001-295, s. 7]
    117. PART LXXVI : CARVED-OUT PROPERTY EXCLUSION
    118. PART LXXVII : PRESCRIBED PRIZES
    119. PART LXXVIII : PRESCRIBED PROVINCIAL PENSION PLANS
    120. PART LXXIX : PRESCRIBED FINANCIAL INSTITUTIONS
    121. PART LXXX : PRESCRIBED RESERVE AMOUNT AND RECOVERY RATE
    122. PART LXXXI : TRANSITION FOR FINANCIAL INSTITUTIONS
      1. Transition Deduction in respect of Unpaid Claims Reserve
      2. Inclusion of Transition Amount in respect of Unpaid Claims Reserve
    124. PART LXXXII : PRESCRIBED PROPERTIES AND PERMANENT ESTABLISHMENTS
      1. Prescribed Properties
      2. Permanent Establishments
    126. PART LXXXIII : PENSION ADJUSTMENTS, PAST SERVICE PENSION ADJUSTMENTS, PENSION ADJUSTMENT REVERSALS AND PRESCRIBED AMOUNTS
      1. Interpretation
      2. Pension Adjustments
      3. Benefit Entitlement
      4. Past Service Pension Adjustment
      5. Past Service Benefits — Additional Rules
      6. Pension Adjustment Reversal
      7. Association of Benefits with Employers
      8. Exemption from Certification
      9. Certification in respect of Past Service Events
      10. Special Rules
      11. Foreign Plans
      12. Prescribed Amount for Member of Foreign Plan
      13. Specified Retirement Arrangements
      14. Government-Sponsored Retirement Arrangements
      15. Prescribed Amount for Lieutenant Governors and Judges
      16. Minister’s Powers
      17. Rounding of Amounts
    128. PART LXXXIV : RETIREMENT AND PROFIT-SHARING PLANS — REPORTING AND PROVISION OF INFORMATION
      1. Definitions
      2. Pension Adjustment
      3. Past Service Pension Adjustment
      4. Pension Adjustment Reversal
      5. Government-Sponsored Retirement Arrangements
      6. Connected Persons
      7. Reporting to Individuals
      8. Discontinuance of Business
      9. Provision of Information
      10. Qualifying Withdrawals
      11. Requirement to Provide Minister with Information
      12. Annual Information Returns
      13. Actuarial Reports
    130. PART LXXXV : REGISTERED PENSION PLANS
      1. Interpretation
      2. Prescribed Conditions for Registration and other Conditions Applicable to Registered Pension Plans
      3. Conditions Applicable to all Plans
      4. Defined Benefit Provisions
      5. Maximum Benefits
      6. Additional Benefits on Downsizing
      7. Money Purchase Provisions
      8. Periods of Reduced Pay
      9. Salary Deferral Leave Plan
      10. Transition Rules
      11. Multi-employer Plans and other Special Plans
      12. Conditions Applicable to Amendments
      13. Registration and Amendment
      14. Designated Laws
      15. Prohibited Investments
      16. Special Rules for Designated Plans
      17. Eligible Contributions
      18. Transfer — Defined Benefit to Money Purchase
      19. Association of Benefits with Time Periods
      20. Minister’s Actions
    132. PART LXXXVI : TAXABLE CAPITAL EMPLOYED IN CANADA
    133. PART LXXXVII : NATIONAL ARTS SERVICE ORGANIZATIONS
    134. PART LXXXVIII : DISABILITY-RELATED MODIFICATIONS AND APPARATUS
    135. PART LXXXIX : ENTITIES PRESCRIBED WITH RESPECT TO CERTAIN RULES
      1. International Organizations
      2. Partnership
    137. PART XC : FINANCIAL INSTITUTIONS — PRESCRIBED ENTITIES
    138. PART XCIII : FILM OR VIDEO PRODUCTION SERVICES TAX CREDIT
      1. Accredited Production
    140. SCHEDULE I : RANGES OF REMUNERATION AND OF TOTAL REMUNERATION
    141. SCHEDULE II : CAPITAL COST ALLOWANCES
    142. SCHEDULE III : CAPITAL COST ALLOWANCES, CLASS 13
    143. SCHEDULE IV : CAPITAL COST ALLOWANCES, CLASS 15
    144. SCHEDULE V : CAPITAL COST ALLOWANCES, INDUSTRIAL MINERAL MINES
    145. SCHEDULE VI : CAPITAL COST ALLOWANCES, TIMBER LIMITS AND CUTTING RIGHTS
    146. SCHEDULE VII : PUBLICLY-TRADED SHARES OR SECURITIES
    147. SCHEDULE VIII : UNIVERSITIES OUTSIDE CANADA
    148. SCHEDULES IX AND X

Related Information
  1. Related Provisions

Last updated: 2007-11-09
Last updated: 2007-11-09
Last updated: 2007-11-09
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