Income Tax Act

Version of section 134.1 from 2004-08-31 to 2013-06-25:

Marginal note:NRO — transition
  •  (1) This section applies to a corporation that

    • (a) was a non-resident-owned investment corporation in a taxation year;

    • (b) is not a non-resident-owned investment corporation in the following taxation year (in this section referred to as the corporation’s “first non-NRO year”); and

    • (c) elects in writing filed with the Minister on or before the corporation’s filing-due date for its first non-NRO year to have this section apply.

  • Marginal note:Application

    (2) A corporation to which this section applies is deemed to be a non-resident-owned investment corporation in its first non-NRO year for the purposes of applying, in respect of dividends paid on shares of its capital stock in its first non-NRO year to a non-resident person or a non-resident-owned investment corporation, subsections 133(6) to (9) (other than the definition non-resident-owned investment corporation in subsection 133(8)) and section 212 and any tax treaty.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 2001, c. 17, s. 132.
Date modified: