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

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Regulations are current to 2022-07-25 and last amended on 2022-06-23. Previous Versions

PART LXVPrescribed Laws (continued)

[
  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/94-346, s. 1
]

 For the purposes of paragraph 81(1)(q) of the Act, prescribed provision of the law of a province means

  • (a) in respect of the Province of Alberta

    • (i) subsections 7(1) and 14(1) of The Criminal Injuries Compensation Act, R.S.A. 1970, c. 75, and

    • (ii) subsections 8(3), 10(2) and 13(8) of The Motor Vehicle Accident Claims Act, R.S.A. 1970, c. 243;

  • (b) in respect of the Province of British Columbia

    • (i) paragraphs 3(1)(a) and (b) and section 9 of the Criminal Injury Compensation Act, R.S.B.C. 1979, c. 83, and

    • (ii) subsection 106(1) of the Motor-vehicle Act, R.S.B.C. 1960, c. 253, as amended by S.B.C. 1965, c. 27;

  • (c) in respect of the Province of Manitoba

    • (i) subsection 6(1) of The Criminal Injuries Compensation Act, S.M. 1970, c. 56, and

    • (ii) subsections 7(9) and 12(11) of The Unsatisfied Judgement Fund Act, R.S.M. 1970, U70;

  • (d) in respect of the Province of New Brunswick

    • (i) subsections 3(1) and (2) of the Compensation for Victims of Crime Act, R.S.N.B. 1973, c. C-14, and

    • (ii) subsections 319(3), (10) and 321(1) of the Motor Vehicle Act, R.S.N.B. 1973, c. M-17;

  • (e) in respect of the Province of Newfoundland

    • (i) subsection 27(1) of the Criminal Injuries Compensation Act, R.S.N. 1970, c. 68, and

    • (ii) subsection 106(2) of The Highway Traffic Act, R.S.N. 1970, c. 152;

  • (f) in respect of the Northwest Territories, subsections 3(1) and 5(2) and section 13 of the Criminal Injuries Compensation Ordinance, R.O.N.W.T. 1974, c. C-23;

  • (g) in respect of the Province of Nova Scotia, subsections 190(5) and 191(2) of the Motor Vehicle Act, R.S.N.S. 1967, c. 191;

  • (h) in respect of the Province of Ontario

    • (i) section 5, subsection 7(2) and section 14 of The Compensation for Victims of Crime Act, 1971, S.O. 1971, c. 51, and

    • (ii) subsections 5(3) and 6(1) and section 18 of The Motor Vehicle Accident Claims Act, R.S.O. 1970, c. 281;

  • (i) in respect of the Province of Prince Edward Island, subsection 351(3) of the Highway Traffic Act, R.S.P.E.I. 1974, c. H-6;

  • (j) in respect of the Province of Quebec

    • (i) sections 5, 5b and 14 of the Crime Victims Compensation Act, S.Q. 1971, c. 18, and

    • (ii) sections 13 and 26, subsection 37(1) and sections 44 and 54 of the Automobile Insurance Act, S.Q. 1977, c. 68;

  • (k) in respect of the Province of Saskatchewan

    • (i) subsection 10(1) of The Criminal Injuries Compensation Act, R.S.S. 1978, c. C-47, and

    • (ii) subsections 23(1) to (4) and (7), 24(2) to (7) and (9), 25(1), 26(1), 27(1) and (2), 27(5), 51(8) and (9), 54(3) and 55(1) of The Automobile Accident Insurance Act, R.S.S. 1978, c. A-35; and

  • (l) in respect of the Yukon Territory, subsection 3(1) of the Compensation for the Victims of Crime Ordinance, O.Y.T. 1975 (1st), c. 2 as amended by O.Y.T. 1976 (1st), c. 5.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/81-118, s. 2

 For the purposes of paragraph 56(1)(c.1), section 56.1, paragraph 60(c.1) and section 60.1 of the Act, the class of individuals

  • (a) who were parties, whether in a personal capacity or by representation, to proceedings giving rise to an order made in accordance with the laws of the Province of Ontario, and

  • (b) who, at the time the application for the order was made, were persons described in subclause 14(b)(i) of the Family Law Reform Act, Revised Statutes of Ontario 1980, c. 152,

is prescribed as a class of persons described in the laws of a province.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/85-116, s. 1

 For the purposes of paragraphs 60(j.02) to (j.04) of the Act, subsection 41(5) of the Canadian Forces Superannuation Act, subsections 39(7) and 42(8) of the Public Service Superannuation Act and subsection 24(6) of the Royal Canadian Mounted Police Superannuation Act are prescribed.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/94-346, s. 2
  • 2017, c. 33, s. 99

PART LXVIPrescribed Order

 For the purpose of the definition overseas Canadian Forces school staff in subsection 248(1) of the Act, the Canadian Forces Overseas Schools Regulations is prescribed.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/81-288, s. 1
  • SOR/81-705, s. 1
  • SOR/2010-93, s. 23

PART LXVIIPrescribed Venture Capital Corporations, Labour-sponsored Venture Capital Corporations, Investment Contract Corporations, Qualifying Corporations and Prescribed Stock Savings Plans

[
  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/89-551, s. 1
  • SOR/94-686, s. 79(F)
]

 For the purposes of paragraph 40(2)(i), clause 53(2)(k)(i)(C), the definition private corporation in subsection 89(1), subsection 125(6.2), the definition Canadian-controlled private corporation in subsection 125(7), section 186.2 and the definition financial intermediary corporation in subsection 191(1) of the Act, the following are prescribed venture capital corporations:

  • (a) a corporation that is registered under the provisions of

    • (i) An Act Respecting Corporations for the Development of Quebec Business Firms, Statutes of Quebec 1976, c. 33,

    • (ii) the Small Business Development Corporations Act, 1979, Statutes of Ontario 1979, c. 22,

    • (iii) Manitoba Regulation 194/84, being a regulation made under The Loans Act, 1983(2), Statutes of Manitoba 1982-83-84, c. 36,

    • (iv) The Venture Capital Tax Credit Act, Statutes of Saskatchewan 1983-84, c. V-4.1,

    • (v) the Small Business Equity Corporations Act, Statutes of Alberta 1984, c. S-13.5,

    • (vi) the Small Business Venture Capital Act, Statutes of British Columbia 1985, c. 56,

    • (vii) An Act respecting Quebec business investment companies, Statutes of Québec 1985, c. 9,

    • (viii) The Venture Capital Act, Statutes of Newfoundland 1988, c. 15,

    • (ix) The Labour-sponsored Venture Capital Corporations Act, Statutes of Saskatchewan 1986, c. L-0.2,

    • (x) Part 2 of the Employee Investment Act, Revised Statutes of British Columbia, 1996, c. 112,

    • (xi) Part III of the Community Small Business Investment Funds Act, chapter 18 of the Statutes of Ontario, 1992,

    • (xii) The Labour-Sponsored Venture Capital Corporations Act, Continuing Consolidation of the Statutes of Manitoba c. L12,

    • (xiii) Part II of the Risk Capital Investment Tax Credits Act, chapter 22 of the Statutes of the Northwest Territories, 1998, or

    • (xiv) section 11 or Part II of the Equity Tax Credit Act, Statutes of Nova Scotia, 1993, c. 3;

  • (b) the corporation established by An Act to Establish the Fonds de solidarité des travailleurs du Québec (F.T.Q.), Revised Statutes of Québec, F-3.2.1;

  • (c) a corporation that is registered with the Department of Economic Development and Tourism of the Government of the Northwest Territories pursuant to the Venture Capital Policy and Directive issued by the Government of the Northwest Territories on June 27, 1985;

  • (d) a corporation that is a registered labour-sponsored venture capital corporation;

  • (e) the corporation established by The Manitoba Employee Ownership Fund Corporation Act, Continuing Consolidation of the Statutes of Manitoba, c. E95;

  • (e.1) the corporation established by An Act constituting Capital régional et coopératif Desjardins, R.S.Q., c. C-6.1; or

  • (f) the corporation established by An Act to establish Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi, Statutes of Québec 1995, c. 48.

  • (g) [Repealed, SOR/2001-289, s. 2]

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/81-540, s. 1
  • SOR/84-948, s. 17
  • SOR/85-92, s. 1
  • SOR/86-379, s. 1
  • SOR/86-488, s. 9
  • SOR/86-1136, s. 9
  • SOR/89-551, s. 2
  • SOR/92-397, s. 1
  • SOR/92-398, s. 1
  • SOR/93-396, s. 1
  • SOR/94-686, ss. 36(F), 79(F)
  • SOR/96-173, s. 1
  • SOR/97-504, s. 1
  • SOR/98-12, s. 1
  • SOR/98-281, s. 2
  • SOR/99-102, s. 3
  • SOR/2001-289, s. 2
  • SOR/2011-188, s. 23

 For the purposes of paragraph 40(2)(i) and clause 53(2)(k)(i)(C) of the Act, a corporation that has an employee share ownership plan registered under Part 1 of the Employee Investment Act, R.S.B.C. 1996, c. 112, is also a prescribed venture capital corporation.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/92-397, s. 2
  • SOR/94-686, s. 79(F)
  • SOR/2001-289, s. 3

 For the purposes of paragraph 40(2)(i) and clause 53(2)(k)(i)(C) of the Act, “prescribed venture capital corporation” at any time includes a corporation that at that time is a corporation registered under the provisions of Part II of the Community Small Business Investment Funds Act, chapter 18 of the Statutes of Ontario, 1992, or of Part II of the Risk Capital Investment Tax Credits Act, chapter 22 of the Statutes of the Northwest Territories, 1998.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/93-396, s. 2
  • SOR/94-686, s. 37(F)
  • SOR/99-102, s. 4

 For the purposes of paragraph 40(2)(i), clause 53(2)(k)(i)(C), the definition public corporation in subsection 89(1), the definition specified investment business in subsection 125(7), the definition approved share in subsection 127.4(1), subsections 131(8) and (11), section 186.1, the definition financial intermediary corporation in subsection 191(1), the definition eligible investment in subsection 204.8(1) and subsection 204.81(8.3) of the Act, prescribed labour-sponsored venture capital corporation means, at any particular time,

  • (a) the corporation established by the Act to establish the Fonds de solidarité des travailleurs du Québec (F.T.Q.), Statutes of Quebec 1983, c. 58;

  • (b) a corporation that is registered under the provisions of The Labour-sponsored Venture Capital Corporations Act, Statutes of Saskatchewan 1986, c. L-0.2;

  • (c) a corporation that is registered under Part 2 of the Employee Investment Act, Revised Statutes of British Columbia, 1996, c. 112;

  • (d) a registered labour-sponsored venture capital corporation;

  • (e) a corporation that is registered under Part III of the Community Small Business Investment Funds Act, chapter 18 of the Statutes of Ontario, 1992;

  • (f) the corporation established by The Manitoba Employee Ownership Fund Corporation Act, Continuing Consolidation of the Statutes of Manitoba, c. E95;

  • (f.1) a corporation that is registered under The Labour-Sponsored Venture Capital Corporations Act, Continuing Consolidation of the Statutes of Manitoba c. L12;

  • (g) the corporation established by An Act to establish Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi, Statutes of Québec 1995, c. 48;

  • (h) a corporation that is registered under Part II of the Equity Tax Credit Act, Statutes of Nova Scotia 1993, c. 3; or

  • (i) a corporation that is registered under Part II of the Risk Capital Investment Tax Credits Act, chapter 22 of the Statutes of the Northwest Territories, 1998.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/81-540, s. 1
  • SOR/86-1136, s. 10
  • SOR/89-551, s. 3
  • SOR/92-397, s. 3
  • SOR/92-398, s. 2
  • SOR/93-396, s. 3
  • SOR/94-686, ss. 38(F), 79(F)
  • SOR/96-173, s. 2
  • SOR/97-504, s. 2
  • SOR/98-12, s. 2
  • SOR/98-281, s. 3
  • SOR/99-102, s. 5
  • SOR/2001-289, s. 4
  • SOR/2005-126, s. 4
  • 2013, c. 34, s. 403

 [Repealed, 2016, c. 7, s. 57]

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • 2013, c. 40, s. 113
  • 2016, c. 7, s. 57

 For the purposes of subparagraph 40(2)(i)(ii) and clause 53(2)(k)(i)(C) of the Act, each of the following is prescribed assistance:

  • (a) the assistance received from a province that has been provided in respect of, or for the acquisition of, a share of the capital stock of a venture capital corporation described in section 6700;

  • (a.1) the assistance provided under the Employee Investment Act, R.S.B.C. 1996, c. 112, in respect of, or for the acquisition of, a share of the capital stock of a venture capital corporation described in section 6700.1;

  • (a.2) the assistance provided under the Community Small Business Investment Funds Act, S.O. 1992, c. 18, the Risk Capital Investment Tax Credits Act, S.N.W.T. 1998, c. 22, or the Risk Capital Investment Tax Credits Act, S.N.W.T. 1998, c. 22, as duplicated for Nunavut, in respect of, or for the acquisition of, a share of the capital stock of a venture capital corporation described in section 6700.2;

  • (b) a tax credit provided in respect of, or for the acquisition of, a share of a labour-sponsored venture capital corporation described in section 6701; and

  • (c) a tax credit provided by a province in respect of, or for the acquisition of, a share of the capital stock of a taxable Canadian corporation (other than a share of the capital stock of a corporation in respect of which an amount has been renounced by the corporation under subsection 66(12.6), (12.601), (12.62) or (12.64) of the Act) that is held in a stock savings plan described in section 6705.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/86-1136, s. 10
  • SOR/89-551, s. 4
  • SOR/92-397, s. 4
  • SOR/93-396, s. 4
  • SOR/94-686, s. 79(F)
  • SOR/96-199, s. 4
  • SOR/99-102, s. 6
  • SOR/2001-289, s. 5
 
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