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

PART XXPolitical Contributions

Contents of Receipts

• 2000 (1) Every official receipt issued by a particular person who is a registered agent of a registered party or an electoral district agent of a registered association, to an individual who makes a monetary contribution to the registered party or registered association, as the case may be, shall contain a statement that it is an official receipt for income tax purposes and shall, in a manner that cannot readily be altered, show clearly

  • (a) the name of the registered party or registered association, as the case may be;

  • (b) the serial number of the receipt;

  • (c) the name of the particular person, as recorded in the registry maintained by the Chief Electoral Officer under section 374 or 403.08 of the Canada Elections Act;

  • (d) the date on which the receipt is issued;

  • (e) the date on which the monetary contribution is received;

  • (f) the individual’s name and address;

  • (g) the amount of the monetary contribution;

  • (h) a description of the advantage, if any, in respect of the monetary contribution and the amount of that advantage; and

  • (i) the eligible amount of the monetary contribution.

• (2) Subject to subsection (3), every official receipt issued by an official agent of a candidate to an individual who makes a monetary contribution to the candidate shall contain a statement that it is an official receipt for income tax purposes and shall, in a manner that cannot readily be altered, show clearly

  • (a) the name of the candidate, as it appears in the candidate’s nomination papers;

  • (b) the serial number of the receipt;

  • (c) the name of the official agent;

  • (d) the date on which the receipt is issued;

  • (e) the date on which the monetary contribution is received;

  • (f) the polling day;

  • (g) the individual’s name and address;

  • (h) the amount of the monetary contribution;

  • (i) a description of the advantage, if any, in respect of the monetary contribution and the amount of that advantage; and

  • (j) the eligible amount of the monetary contribution.

• (3) The information required by paragraph (2)(f) may be shown by use of a code on an official receipt form issued by the Chief Electoral Officer, provided that the Minister is advised of the meaning of the code used.

• (4) For the purposes of subsections (1) and (2), an official receipt issued to replace an official receipt previously issued shall show clearly that it replaces the original receipt and, in addition to its own serial number, shall show the serial number of the receipt originally issued.

• (5) A spoiled official receipt form shall be marked “cancelled” and, together with its duplicate, shall be filed by the electoral district agent, the official agent or the registered agent, as the case may be, together with the information return required to be filed with the Minister under subsection 230.1(2) of the Act.

• (6) An official receipt form on which any of the following is incorrectly or illegibly entered is to be regarded as spoiled:

  • (a) the date on which the monetary contribution is received;

  • (b) the amount of the monetary contribution;

  • (c) a description of the advantage, if any, in respect of the monetary contribution and the amount of that advantage; and

  • (d) the eligible amount of the monetary contribution.

2001 [Repealed, 2013, c. 34, s. 389]

Interpretation

• 2002 (1) The following definitions apply in this Part.

  Chief Electoral Officer

  Chief Electoral Officer means the person named as chief electoral officer or substitute chief electoral officer under section 13 or 14 of the Canada Elections Act. (directeur général des élections)

  nomination paper

  nomination paper means, in respect of a candidate, a nomination paper filed in respect of the candidate under the Canada Elections Act, with the corrections, if any, made under that Act to the nomination paper after its filing. (acte de candidature)

  official receipt

  official receipt means a receipt issued for the purposes of subsection 127(3) of the Act containing the information that is required under that subsection. (reçu officiel)

  official receipt form

  official receipt form means

  • (a) in the case of an official receipt issued by an electoral district agent or a registered agent under subsection 2000(1), any printed form that an electoral district agent or a registered agent, as the case may be, has that is capable of being completed, or that originally was intended to be completed, as an official receipt of the electoral district agent or registered agent; and

  • (b) in the case of an official receipt issued by an official agent under subsection 2000(2), the official form prescribed under section 477 of the Canada Elections Act. (formulaire de reçu officiel)

• (2) In this Part, official agent,polling day and registered agent have the meanings assigned to them by the Canada Elections Act.

PART XXIElections in Respect of Surpluses

Reduction of Tax-Paid Undistributed Surplus on Hand or 1971 Capital Surplus on Hand

2100 Any election under subsection 83(1) of the Act in respect of a dividend payable before 1979 by a Canadian corporation shall be made by filing with the Minister the following documents:

• (a) the form prescribed by the Minister;

• (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made;

• (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation;

• (d) where paragraph (e) is not applicable, schedules showing the computation of the amount, immediately before the election, of the corporation’s

  • (i) tax-paid undistributed surplus on hand, if any,

  • (ii) 1971 capital surplus on hand, if any, and

  • (iii) 1971 undistributed income on hand, if any; and

• (e) where subsection 83(3) of the Act is applicable, schedules showing the computation of the amount, immediately before the dividend became payable, of the corporation’s

  • (i) tax-paid undistributed surplus on hand, if any,

  • (ii) 1971 capital surplus on hand, if any, and

  • (iii) 1971 undistributed income on hand, if any.

Capital Dividends and Life Insurance Capital Dividends Payable by Private Corporations

2101 Any election under subsection 83(2) of the Act in respect of a dividend payable by a private corporation shall be made by filing with the Minister the following documents:

• (a) the form prescribed by the Minister;

• (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made;

• (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation;

• (d) where the election has been made under subsection 83(2) of the Act and paragraph (e) is not applicable, schedules showing the computation of the amount, immediately before the election, of the corporation’s

  • (i) capital dividend account, and

  • (ii) 1971 undistributed income on hand, if any, if the dividend was payable on or prior to March 31, 1977; and

• (e) where the election has been made under subsection 83(2) of the Act and subsection 83(3) of the Act is applicable, schedules showing the computation of the amount, immediately before the dividend became payable, of the corporation’s

  • (i) capital dividend account, and

  • (ii) 1971 undistributed income on hand, if any, if the dividend was payable on or prior to March 31, 1977.

• (f) and (g) [Repealed, SOR/88-165, s. 12]

Tax on 1971 Undistributed Income on Hand

• 2102 (1) [Repealed, SOR/80-140, s. 3]

• (2) Any retroactive election by a corporation under subsection 196(1.1) of the Act, in respect of a dividend payable before 1979 in respect of which an election was made under section 83 of the Act, shall be made by filing with the Minister the following documents:

  • (a) the form prescribed by the Minister;

  • (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made;

  • (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation; and

  • (d) a schedule showing the computation of the amount, immediately before the time immediately before the specified election referred to in subsection 196(1.1) of the Act was made, of the corporation’s 1971 undistributed income on hand.

2103 [Repealed, SOR/78-604, s. 2]

Capital Gains Dividends Payable by Mutual Fund Corporations, Investment Corporations and Mortgage Investment Corporations

2104 Any election under subsection 131(1) of the Act in respect of a dividend payable by a mutual fund corporation or an investment corporation shall be made by filing with the Minister the following documents:

• (a) the form prescribed by the Minister;

• (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made;

• (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation;

• (d) where paragraph (f) is not applicable, a schedule showing the computation of the amount, immediately before the election, of the corporation’s capital gains dividend account; and

• (e) [Repealed, SOR/88-165, s. 13]

• (f) where subsection 131(1.1) of the Act is applicable, a schedule showing the computation of the amount, immediately before the earlier of

  • (i) the date the dividend became payable, and

  • (ii) the first day on which any part of the dividend was paid,

  of the corporation’s capital gains dividend account.

2104.1 Any election under subsection 130.1(4) of the Act in respect of a dividend payable by a mortgage investment corporation shall be made by filing with the Minister the following documents:

• (a) the documents referred to in paragraphs 2104(a) to (c); and

• (b) a schedule showing the computation of the capital gains dividend in accordance with paragraph 130.1(4)(a) of the Act.

Capital Gains Dividends Payable by Non-Resident-Owned Investment Corporations

2105 Any election under subsection 133(7.1) of the Act in respect of a dividend payable by a non-resident-owned investment corporation shall be made by filing with the Minister the following documents:

• (a) the form prescribed by the Minister;

• (b) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of their resolution authorizing the election to be made;

• (c) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of the authorization of the making of the election by the person or persons legally entitled to administer the affairs of the corporation;

• (d) where paragraph (e) is not applicable, a schedule showing the computation of the amount, immediately before the election, of the corporation’s capital gains dividend account; and

• (e) where subsection 133(7.3) of the Act is applicable, a schedule showing the computation of the amount, immediately before the earlier of

  • (i) the date the dividend became payable, and

  • (ii) the first day on which any part of the dividend was paid,

  of the corporation’s capital gains dividend account.

Alternative to Additional Tax on Excessive Elections

2106 Any election under subsection 184(3) of the Act in respect of a dividend that was paid or payable by a corporation shall be made by

• (a) filing with the Minister the following documents:

  • (i) a letter stating that the corporation elects under subsection 184(3) of the Act in respect of the said dividend,

  • (ii) where the directors of the corporation are legally entitled to administer the affairs of the corporation, a certified copy of

    • (A) their resolution authorizing the election to be made, and

    • (B) their declaration that the election is made with the concurrence of all shareholders who received or were entitled to receive all or any portion of the said dividend and whose addresses were known to the corporation,

  • (iii) where the directors of the corporation are not legally entitled to administer the affairs of the corporation, a certified copy of

    • (A) the authorization of the making of the election, and

    • (B) the declaration that the election is made with the concurrence of all shareholders who received or were entitled to receive all or any portion of the said dividend and whose addresses were known to the corporation

    by the person or persons legally entitled to administer the affairs of the corporation,

  • (iv) a schedule showing the following information:

    • (A) the date of the notice of assessment of the tax that would, but for the election, have been payable under Part III of the Act,

    • (B) the full amount of the said dividend,

    • (C) the date the said dividend became payable, or the first day on which any part of the said dividend was paid if that day is earlier,

    • (D) the portion, if any, of the said dividend described in paragraph 184(3)(a) of the Act,

    • (E) the portion, if any, of the said dividend that the corporation is claiming for the purposes of an election in respect thereof under subsection 83(1) or (2), 130.1(4) or 131(1) of the Act pursuant to paragraph 184(3)(b) of the Act, and

    • (F) the portion, if any, of the said dividend that is deemed by paragraph 184(3)(c) of the Act to be a separate dividend that is a taxable dividend; and

• (b) making an election in prescribed manner and prescribed form in respect of any amount claimed under paragraph 184(3)(b) of the Act.