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Income Tax Regulations

Version of section 413 from 2013-06-26 to 2024-05-01:

  •  (1) In this Part, if a corporation is not resident in Canada

    • (a) “salaries and wages paid in the year” by the corporation does not include salaries and wages paid to employees of a permanent establishment outside Canada; and

    • (b) “taxable income” of the corporation is deemed to refer to the corporation’s taxable income earned in Canada.

  • (2) For the purposes of paragraph 402(3)(a), where a corporation is not resident in Canada, “total gross revenue for the year” of the corporation does not include gross revenue reasonably attributable to a permanent establishment outside Canada.

  • (3) For the purpose of paragraph 404(1)(b), in the case of an authorized foreign bank, “all loans and deposits of the bank for the year” is to be read as a reference to “all loans and deposits of the bank for the year in respect of its Canadian banking business”.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/94-686, s. 79(F)
  • 2009, c. 2, s. 95
  • SOR/2009-302, s. 4
  • SOR/2011-195, s. 4(F)
  • 2013, c. 33, s. 33

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