Income Tax Regulations (C.R.C., c. 945)

Regulations are current to 2013-04-29 and last amended on 2013-02-14. Previous Versions

Qualified Investments

[SOR/2005-264, s. 3]

  • 221. (1) In this section, “reporting person” means

    • (a) a mutual fund corporation;

    • (b) an investment corporation;

    • (c) a mutual fund trust;

    • (d) and (e) [Repealed, SOR/2005-264, s. 4]

    • (f) a trust that would be a mutual fund trust if Part XLVIII were read without reference to paragraph 4801(b); or

    • (g) [Repealed, SOR/2005-264, s. 4]

    • (h) a small business investment trust (within the meaning assigned by subsection 5103(1)).

    • (i) [Repealed, SOR/2005-264, s. 4]

  • (2) Where in any taxation year a reporting person (other than a registered investment) claims that a share of its capital stock issued by it, or an interest as a beneficiary under it, is a qualified investment under section 146, 146.1, 146.3, 204, 205 or 207.01 of the Act, the reporting person shall, in respect of the year and within 90 days after the end of the year, make an information return in prescribed form.

  • (3) [Repealed, SOR/2005-264, s. 4]

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts and regulations. SOR/85-160, s. 2;
  • SOR/88-165, s. 31(F);
  • SOR/94-686, s. 79(F);
  • SOR/2000-62, s. 1;
  • SOR/2001-216, s. 1;
  • SOR/2005-264, s. 4;
  • 2007, c. 35, s. 125;
  • 2009, c. 2, s. 88;
  • SOR/2010-93, s. 6(E).
Previous Version

222. [Repealed, SOR/2000-62, s. 1]

TFSAs

  • 223. (1) An issuer of a TFSA shall make an information return for each calendar year in prescribed form in respect of the TFSA.

  • (2) An issuer of a TFSA who makes a payment of an amount that is required because of paragraph 146.2(9)(b) of the Act to be included in computing the income of a taxpayer for a taxation year shall make an information return in prescribed form.

  • (3) An issuer of a TFSA that governs a trust shall notify the holder of the TFSA in prescribed form and manner before March of a calendar year if, at any time during the preceding calendar year,

    • (a) the trust acquires or disposes of property that is a non-qualified investment for the trust; or

    • (b) property held by the trust becomes or ceases to be a non-qualified investment for the trust.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts and regulations. SOR/83-866, s. 6;
  • SOR/86-522, s. 2;
  • SOR/88-165, s. 31(F);
  • 2009, c. 2, s. 89.
Previous Version

Canadian Home Insulation Program and Canada Oil Substitution Program

224. Where an amount has been paid to a person pursuant to a program prescribed for the purposes of paragraphs 12(1)(u), 56(1)(s) and 212(1)(s) of the Act, the payor shall

  • (a) make an information return in prescribed form in respect of such payment; and

  • (b) forward to the person at his latest known address on or before the date the return is required to be filed with the Minister two copies of the portion of the return relating to that person.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/78-348, s. 1;
  • SOR/81-936, s. 4;
  • SOR/88-165, s. 31(F).