Canada Income Tax Act
June 5, 2020
Table of Contents
- Income Tax Act
- 1 – Short Title
- 2 – PART I – Income Tax
- 2 – DIVISION A – Liability for Tax
- 3 – DIVISION B – Computation of Income
- 3 – Basic Rules
- 5 – SUBDIVISION A – Income or Loss from an Office or Employment
- 5 – Basic Rules
- 6 – Inclusions
- 8 – Deductions
- 9 – SUBDIVISION B – Income or Loss from a Business or Property
- 9 – Basic Rules
- 12 – Inclusions
- 18 – Deductions
- 22 – Ceasing to carry on business
- 26 – Special Cases
- 38 – SUBDIVISION C – Taxable Capital Gains and Allowable Capital Losses
- 56 – SUBDIVISION D – Other Sources of Income
- 56.4 – Restrictive Covenants
- 60 – SUBDIVISION E – Deductions in Computing Income
- 67 – SUBDIVISION F – Rules Relating to Computation of Income
- 81 – SUBDIVISION G – Amounts Not Included in Computing Income
- 82 – SUBDIVISION H – Corporations Resident in Canada and their Shareholders
- 86.1 – Foreign Spin-offs
- 90 – SUBDIVISION I – Shareholders of Corporations Not Resident in Canada
- 96 – SUBDIVISION J – Partnerships and their Members
- 104 – SUBDIVISION K – Trusts and their Beneficiaries
- 110 – DIVISION C – Computation of Taxable Income
- 110.2 – Lump-sum Payments
- 115 – DIVISION D – Taxable Income Earned in Canada by Non-Residents
- 117 – DIVISION E – Computation of Tax
- 117 – SUBDIVISION A – Rules Applicable to Individuals
- 117.1 – Annual Adjustment of Deductions and Other Amounts
- 120.31 – Lump-sum Payments
- 120.4 – Tax on Split Income
- 122.6 – SUBDIVISION A.1 – Canada Child Benefit
- 122.7 – SUBDIVISION A.2 – Canada Workers Benefit
- 122.8 – SUBDIVISION A.3 – Climate Action Incentive
- 122.9 – SUBDIVISION A.4 – School Supplies Tax Credit
- 122.91 – SUBDIVISION A.5 – Canada Training Credit
- 123 – SUBDIVISION B – Rules Applicable to Corporations
- 126 – SUBDIVISION C – Rules Applicable to all Taxpayers
- 117 – SUBDIVISION A – Rules Applicable to Individuals
- 127.5 – DIVISION E.1 – Minimum Tax
- 128 – DIVISION F – Special Rules Applicable in Certain Circumstances
- 128 – Bankruptcies
- 128.1 – Changes in Residence
- 129 – Private Corporations
- 130 – Investment Corporations
- 130.1 – Mortgage Investment Corporations
- 131 – Mutual Fund Corporations
- 132 – Mutual Fund Trusts
- 133 – Non-Resident-Owned Investment Corporations
- 135 – Patronage Dividends
- 135.1 – Agricultural Cooperatives — Tax-deferred Patronage Dividends
- 135.2 – Continuance of the Canadian Wheat Board
- 136 – Cooperative Corporations
- 137 – Credit Unions, Savings and Credit Unions and Deposit Insurance Corporations
- 138 – Insurance Corporations
- 139.1 – Demutualization of Insurance Corporations
- 142.2 – Financial Institutions
- 142.2 – Interpretation
- 142.3 – Income from Specified Debt Obligations
- 142.4 – Disposition of Specified Debt Obligations
- 142.5 – Mark-to-Market Properties
- 142.6 – Additional Rules
- 142.7 – Conversion of Foreign Bank Affiliate to Branch
- 143 – Communal Organizations
- 143.2 – Cost of Tax Shelter Investments and Limited-recourse Debt in Respect of Gifting Arrangements
- 143.3 – Expenditure — Limitations
- 143.4 – Expenditure — Limit for Contingent Amount
- 144 – DIVISION G – Deferred and Other Special Income Arrangements
- 144 – Employees Profit Sharing Plans
- 144.1 – Employee Life and Health Trust
- 145 – Registered Supplementary Unemployment Benefit Plans
- 146 – Registered Retirement Savings Plans
- 146.01 – Home Buyers’ Plan
- 146.02 – Lifelong Learning Plan
- 146.1 – Registered Education Savings Plans
- 146.2 – Tax-free Savings Accounts
- 146.3 – Registered Retirement Income Funds
- 146.4 – Registered Disability Savings Plan
- 147 – Deferred Profit Sharing Plans
- 147.1 – Registered Pension Plans
- 147.5 – Pooled Registered Pension Plans
- 148 – Life Insurance Policies
- 148.1 – Eligible Funeral Arrangements
- 149 – DIVISION H – Exemptions
- 149 – Miscellaneous Exemptions
- 149.1 – Qualified Donees
- 150 – DIVISION I – Returns, Assessments, Payment and Appeals
- 150 – Returns
- 151 – Estimate of Tax
- 152 – Assessment
- 153 – Payment of Tax
- 161 – Interest
- 161.1 – Offset of Refund Interest and Arrears Interest
- 161.3 – Small Amounts Owing
- 162 – Penalties
- 163.2 – Misrepresentation of a Tax Matter by a Third Party
- 164 – Refunds
- 165 – Objections to Assessments
- 166 – General
- 168 – Revocation of Registration of Certain Organizations and Associations
- 169 – DIVISION J – Appeals to the Tax Court of Canada and the Federal Court of Appeal
- 180.01 – PART I.01 – Tax in Respect of Stock Option Benefit Deferral
- 180.1 – PART I.1 – Individual Surtax
- 180.2 – PART I.2 – Tax on Old Age Security Benefits
- 181 – PART I.3 – Tax on Large Corporations
- 182 – PART II – [Repealed, 2017, c. 20, s. 27]
- 183.1 – PART II.1 – Tax on Corporate Distributions
- 184 – PART III – Additional Tax on Excessive Elections
- 185.1 – PART III.1 – Additional Tax on Excessive Eligible Dividend Designations
- 186 – PART IV – Tax on Taxable Dividends Received by Private Corporations
- 187.1 – PART IV.1 – Taxes on Dividends on Certain Preferred Shares Received by Corporations
- 187.7 – PART V – Tax and Penalties in Respect of Qualified Donees
- 190 – PART VI – Tax on Capital of Financial Institutions
- 190.1 – Calculation of Capital Tax
- 190.2 – Administrative Provisions
- 191 – PART VI.1 – Tax on Corporations Paying Dividends on Taxable Preferred Shares
- 192 – PART VII – Refundable Tax on Corporations Issuing Qualifying Shares
- 194 – PART VIII – Refundable Tax on Corporations in Respect of Scientific Research and Experimental Development Tax Credit
- 196 – PART IX – Tax on Deduction Under Section 66.5
- 197 – PART IX.1 – Tax on Sift Partnerships
- 198 – PART X – Taxes on Deferred Profit Sharing Plans and Revoked Plans
- 204.1 – PART X.1 – Tax in Respect of Over-contributions to Deferred Income Plans
- 204.4 – PART X.2 – Tax in Respect of Registered Investments
- 204.8 – PART X.3 – Labour-sponsored Venture Capital Corporations
- 204.9 – PART X.4 – Tax in Respect of Overpayments to Registered Education Savings Plans
- 204.94 – PART X.5 – Payments Under Registered Education Savings Plans
- 205 – PART XI – [Repealed, 2017, c. 33, s. 66]
- 207.01 – PART XI.01 – Taxes in Respect of Registered Plans
- 207.1 – PART XI.1 – Tax in Respect of Deferred Income Plans and Other Tax Exempt Persons
- 207.3 – PART XI.2 – Tax in Respect of Dispositions of Certain Properties
- 207.5 – PART XI.3 – Tax in Respect of Retirement Compensation Arrangements
- 207.8 – PART XI.4 – Tax on Excess EPSP Amounts
- 208 – PART XII – Tax in Respect of Certain Royalties, Taxes, Lease Rentals, Etc., Paid to a Government by a Tax Exempt Person
- 209 – PART XII.1 – Tax on Carved-out Income
- 210 – PART XII.2 – Tax on Designated Income of Certain Trusts
- 211 – PART XII.3 – Tax on Investment Income of Life Insurers
- 211.6 – PART XII.4 – Tax on Qualifying Environmental Trusts
- 211.7 – PART XII.5 – Recovery of Labour-sponsored Funds Tax Credit
- 211.91 – PART XII.6 – Tax on Flow-through Shares
- 212 – PART XIII – Tax on Income from Canada of Non-resident Persons
- 218.2 – PART XIII.1 – Additional Tax on Authorized Foreign Banks
- 218.3 – PART XIII.2 – Non-resident Investors in Canadian Mutual Funds
- 219 – PART XIV – Additional Tax on Non-resident Corporations
- 220 – PART XV – Administration and Enforcement
- 220 – Administration
- 222 – Collection
- 230 – General
- 238 – Offences and Punishment
- 244 – Procedure and Evidence
- 244.1 – PART XV.1 – Reporting of Electronic Funds Transfer
- 245 – PART XVI – Tax Avoidance
- 247 – PART XVI.1 – Transfer Pricing
- 248 – PART XVII – Interpretation
- 263 – PART XVIII – Enhanced International Information Reporting
- 270 – PART XIX – Common Reporting Standard
- SCHEDULE – Listed Corporations
Related Information
Regulations made under this Act
- Income Earned in Quebec Income Tax Remission Order, 1982 (SOR/83-96)
- Income Tax Regulations (C.R.C., c. 945)
- Proclamation Fixing Valuation Days (C.R.C., c. 946)
Original Source: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/index.html