“assessable distribution”

« distribution déterminée »

“assessable distribution”, in respect of a Canadian property mutual fund investment, means the portion of any amount that is paid or credited (otherwise than as a SIFT trust wind-up event), by the mutual fund that issued the investment, to a non-resident investor who holds the investment, and that is not otherwise subject to tax under Part I or Part XIII.

Marginal note:Provision of information

• 241. (1) Except as authorized by this section, no official or other representative of a government entity shall

• Marginal note:Evidence relating to taxpayer information

  (2) Notwithstanding any other Act of Parliament or other law, no official or other representative of a government entity shall be required, in connection with any legal proceedings, to give or produce evidence relating to any taxpayer information.

• (l) subject to subsection (9.2), provide to a representative of a government entity the business number of, the name of (including any trade name or other name used by), and any contact information, corporate information and registration information in respect of, the holder of a business number (other than an excluded individual), if the information is provided solely for the purposes of the administration or enforcement of

  • (i) an Act of Parliament or of a legislature of a province, or

  • (ii) a by-law of a municipality in Canada or a law of an aboriginal government;

• Marginal note:Disclosure to taxpayer or on consent

  (5) An official or other representative of a government entity may provide taxpayer information relating to a taxpayer

• Marginal note:Appeal from order or direction

  (6) An order or direction that is made in the course of or in connection with any legal proceedings and that requires an official, other representative of a government entity or authorized person to give or produce evidence relating to any taxpayer information may, by notice served on all interested parties, be appealed forthwith by the Minister or by the person against whom the order or direction is made to

• Marginal note:Restrictions on information sharing

  (9.2) No information may be provided to a representative of a government entity under paragraph (4)(l) in connection with a program, activity or service provided or undertaken by the government entity unless the government entity uses the business number as an identifier in connection with the program, activity or service.

• Marginal note:Public disclosure

  (9.3) The Minister may, in connection with a program, activity or service provided or undertaken by the Minister, make available to the public the business number of, and the name of (including any trade name or other name used by), the holder of a business number (other than an excluded individual).

• Marginal note:Public disclosure by representative of government entity

  (9.4) A representative of a government entity may, in connection with a program, activity or service provided or undertaken by the government entity, make available to the public the business number of, and the name of (including any trade name or other name used by), the holder of a business number (other than an excluded individual), if

  • (a) a representative of the government entity was provided with that information pursuant to paragraph (4)(l); and

  • (b) the government entity uses the business number as an identifier in connection with the program, activity or service.

but does not include information that does not directly or indirectly reveal the identity of the taxpayer to whom it relates and, for the purposes of applying subsections (2), (5) and (6) to a representative of a government entity that is not an official, taxpayer information includes only the information referred to in paragraph (4)(l);

“aboriginal government”

« gouvernement autochtone »

“aboriginal government” means an aboriginal government as defined in subsection 2(1) of the Federal-Provincial Fiscal Arrangements Act;

“contact information”

« coordonnées »

“contact information”, in respect of a holder of a business number, means the name, address, telephone number, facsimile number and preferred language of communication of the holder, or similar information as specified by the Minister in respect of the holder, and includes such information in respect of one or more

• (a) trustees of the holder, if the holder is a trust,

• (b) members of the holder, if the holder is a partnership,

• (c) officers of the holder, if the holder is a corporation, or

• (d) officers or members of the holder, if the holder is not described by any of paragraphs (a) to (c);

“corporate information”

« renseignements d’entreprise »

“corporate information”, in respect of a holder of a business number that is a corporation, means the name (including the number assigned by the incorporating authority), date of incorporation, jurisdiction of incorporation and any information on the dissolution, reorganization, amalgamation, winding-up or revival of the corporation;

“excluded individual”

« particulier exclu »

“excluded individual” means an individual who is a holder of a business number solely because the individual is required under this Act to deduct or withhold an amount from an amount paid or credited or deemed to be paid or credited;

“government entity”

« entité gouvernementale »

“government entity” means

• (a) a department or agency of the government of Canada or of a province,

• (b) a municipality in Canada,

• (c) an aboriginal government,

• (d) a corporation all of the shares (except directors’ qualifying shares) of the capital stock of which are owned by one or more persons each of which is

  • (i) Her Majesty in right of Canada,

  • (ii) Her Majesty in right of a province,

  • (iii) a municipality in Canada, or

  • (iv) a corporation described in this paragraph, or

• (e) a board or commission, established by Her Majesty in right of Canada or Her Majesty in right of a province, that performs an administrative or regulatory function of government, or by one or more municipalities in Canada, that performs an administrative or regulatory function of a municipality;

“registration information”

« renseignements relatifs à l’inscription »

“registration information”, in respect of a holder of a business number, means

• (a) any information pertaining to the legal form of the holder,

• (b) the type of activities carried on or proposed to be carried on by the holder,

• (c) each date on which

  • (i) the business number was issued to the holder,

  • (ii) the holder began activities,

  • (iii) the holder ceased or resumed activities, or

  • (iv) the business number assigned to the holder was changed, and

• (d) the reasons for the cessation, resumption or change referred to in subparagraph (c)(iii) or (iv);

“representative”

« représentant »

“representative” of a government entity means a person who is employed in the service of, who occupies a position of responsibility in the service of, or who is engaged by or on behalf of, a government entity, and includes, for the purposes of subsections (1), (2), (5) and (6), a person who was formerly so employed, who formerly occupied such a position or who formerly was so engaged;

“amateur athlete trust”

« fiducie au profit d’un athlète amateur »

“amateur athlete trust” has the meaning assigned by subsection 143.1(1.2);

“personal trust”

« fiducie personnelle »

“personal trust” means a trust (other than a trust that is, or was at any time after 1999, a unit trust) that is

• (a) a testamentary trust, or

• (b) an inter vivos trust no beneficial interest in which was acquired for consideration payable directly or indirectly to

  • (i) the trust, or

  • (ii) any person or partnership that has made a contribution to the trust by way of transfer, assignment or other disposition of property;

“TFSA”

« compte d’épargne libre d’impôt »

“TFSA”, being a tax-free savings account, has the meaning assigned by subsection 146.2(5);

• (d) a share of the capital stock of a corporation, an income or capital interest in a trust or an interest in a partnership (other than a taxable Canadian corporation, a SIFT trust or a SIFT partnership), if more than 50% of the fair market value of the share or interest is derived directly or indirectly from one or any combination of properties described in paragraphs (a) to (c), or

“foreign currency debt”

« dette en monnaie étrangère »

“foreign currency debt” has the meaning assigned by subsection 111(8);

“SIFT trust wind-up event”

« fait lié à la conversion d’une EIPD-fiducie »

“SIFT trust wind-up event” means a distribution by a particular trust resident in Canada of property to a taxpayer in respect of which the following conditions are met:

• (a) the distribution occurs before 2013,

• (b) there is a resulting disposition of all of the taxpayer’s interest as a beneficiary under the particular trust,

• (c) the particular trust is

  • (i) a SIFT wind-up entity,

  • (ii) a trust whose only beneficiary throughout the period (referred to in this definition as the “qualifying period”) that begins on July 14, 2008 and that ends at the time of the distribution is another trust that throughout the qualifying period

    • (A) is resident in Canada, and

    • (B) is a SIFT wind-up entity or a trust described by this subparagraph, or

  • (iii) a trust whose only beneficiary at the time of distribution is another trust that throughout the qualifying period

    • (A) is resident in Canada,

    • (B) is a SIFT wind-up entity or a trust described by subparagraph (ii), and

    • (C) is a majority interest beneficiary (within the meaning that would be assigned by section 251.1 if the references in the definition “majority interest beneficiary” in subsection 251.1(3) to “50%” were read as references to “25%”) of the particular trust,

• (d) the particular trust ceases to exist immediately after the distribution or immediately after the last of a series of SIFT trust wind-up events (determined without reference to this paragraph) of the particular trust that includes the distribution, and

• (e) the property was not acquired by the particular trust as a result of a transfer or an exchange

  • (i) that is

    • (A) a “qualifying exchange” as defined in subsection 132.2(1) or a “qualifying disposition” as defined in subsection 107.4(1),

    • (B) made after February 2, 2009, and

    • (C) from any person other than a SIFT wind-up entity, or

  • (ii) to which any of sections 51, 85, 85.1, 86, 87, 88, 107.4 or 132.2 applies, of another property acquired as a result of a transfer or an exchange described by subparagraph (i) or this subparagraph;

“SIFT wind-up corporation”

« société de conversion d’EIPD »

“SIFT wind-up corporation”, in respect of a SIFT wind-up entity, means at any particular time a corporation

• (a) that, at any time that is after July 13, 2008 and before the earlier of the particular time and January 1, 2013, owns all of the equity in the SIFT wind-up entity, or

• (b) shares of the capital stock of which are at or before the particular time distributed on a SIFT trust wind-up event of the SIFT wind-up entity;

“SIFT wind-up entity”

« EIPD convertible »

“SIFT wind-up entity” means a trust or partnership that at any time in the period that began on October 31, 2006 and that ends on July 14, 2008 is

• (a) a SIFT trust (determined without reference to subsection 122.1(2)),

• (b) a SIFT partnership (determined without reference to subsection 197(8)), or

• (c) a real estate investment trust (as defined in subsection 122.1(1));

“SIFT wind-up entity equity”

« intérêt dans une EIPD convertible »

“SIFT wind-up entity equity”, or equity in a SIFT wind-up entity, means

• (a) if the SIFT wind-up entity is a trust, a capital interest (determined without reference to subsection (25)) in the trust, and

• (b) if the SIFT wind-up entity is a partnership, an interest as a member of the partnership where, by operation of any law governing the arrangement in respect of the partnership, the liability of the member as a member of the partnership is limited,

except that if all of the interests described in paragraph (a) or (b), as the case may be, in the SIFT wind-up entity are described by reference to units, it means the part of the interest represented by such a unit;

• Marginal note:Property subject to certain Quebec institutions and arrangements

  (3) For the purposes of this Act, if property is subject to an institution or arrangement that is described by this subsection and that is governed by the laws of the Province of Quebec, the following rules apply in respect of the property:

  • (a) if at any time property is subject to a usufruct, right of use or habitation, or substitution,

    • (i) the usufruct, right of use or habitation, or substitution, as the case may be, is deemed to be at that time

      • (A) a trust, and

      • (B) where the usufruct, right of use or habitation, or substitution, as the case may be, is created by will, a trust created by will,

    • (ii) the property is deemed

      • (A) where the usufruct, right of use or habitation, or substitution, as the case may be, arises on the death of a testator, to have been transferred to the trust on and as a consequence of the death of the testator, and not otherwise, and

      • (B) where the usufruct, right of use or habitation, or substitution, as the case may be, arises otherwise, to have been transferred (at the time it first became subject to the usufruct, right of use or habitation, or substitution, as the case may be) to the trust by the person that granted the usufruct, right of use or habitation, or substitution, and

    • (iii) the property is deemed to be, throughout the period in which it is subject to the usufruct, right of use or habitation, or substitution, as the case may be, held by the trust, and not otherwise;

  • (b) an arrangement (other than a partnership, a qualifying arrangement or an arrangement that is a trust determined without reference to this paragraph) is deemed to be a trust and property subject to rights and obligations under the arrangement is, if the arrangement is deemed by this paragraph to be a trust, deemed to be held in trust and not otherwise, where the arrangement

    • (i) is established before October 31, 2003 by or under a written contract that

      • (A) is governed by the laws of the Province of Quebec, and

      • (B) provides that, for the purposes of this Act, the arrangement shall be considered to be a trust, and

    • (ii) creates rights and obligations that are substantially similar to the rights and obligations under a trust (determined without reference to this subsection);

  • (c) if the arrangement is a qualifying arrangement,

    • (i) the arrangement is deemed to be a trust,

    • (ii) any property contributed at any time to the arrangement by an annuitant, a holder or a subscriber of the arrangement, as the case may be, is deemed to have been transferred, at that time, to the trust by the contributor, and

    • (iii) property subject to rights and obligations under the arrangement is deemed to be held in trust and not otherwise;

  • (d) a person who has a right (whether immediate or future and whether absolute or contingent) to receive all or part of the income or capital in respect of property that is referred to in paragraph (a) or (b) is deemed to be beneficially interested in the trust; and

  • (e) notwithstanding that a property is at any time subject to a servitude, the property is deemed to be beneficially owned by a person at that time if, at that time, the person has in relation to the property

    • (i) the right of ownership,

    • (ii) a right as a lessee under an emphyteusis, or

    • (iii) a right as a beneficiary in a trust.

• Marginal note:Gift of bare ownership of immovables

  (3.1) Subsection (3) does not apply in respect of a usufruct or a right of use of an immovable in circumstances where a taxpayer disposes of the bare ownership of the immovable by way of a gift to a donee described in the definition “total charitable gifts”, “total Crown gifts” or “total ecological gifts” in subsection 118.1(1) and retains, for life, the usufruct or the right of use.

• Marginal note:Qualifying arrangement

  (3.2) For the purposes of paragraphs 248(3)(b) and (c), an arrangement is a qualifying arrangement if it is

  • (a) entered into with a corporation that is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee;

  • (b) established by or under a written contract that is governed by the laws of the Province of Quebec;

  • (c) presented as a declaration of trust or provides that, for the purposes of this Act, it shall be considered to be a trust; and

  • (d) presented as an arrangement in respect of which the corporation is to take action for the arrangement to become a registered disability savings plan, a registered education savings plan, a registered retirement income fund, a registered retirement savings plan or a TFSA.

• Marginal note:Trust-to-trust transfers

  (25.1) Where at any time a particular trust transfers property to another trust (other than a trust governed by a registered retirement savings plan or by a registered retirement income fund) in circumstances to which paragraph (f) of the definition “disposition” in subsection (1) applies, without affecting the personal liabilities under this Act of the trustees of either trust or the application of subsection 104(5.8) and paragraph 122(2)(f), the other trust is deemed to be after that time the same trust as, and a continuation of, the particular trust, and, for greater certainty, if the property was deemed to be taxable Canadian property of the particular trust by paragraph 51(1)(f), 85(1)(i) or 85.1(1)(a) or (8)(b), subsection 85.1(5) or 87(4) or (5) or paragraph 97(2)(c) or 107(2)(d.1) or (3.1)(d), the property is deemed to be taxable Canadian property of the other trust.