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Archived - Legislative Proposals and Explanatory Notes Relating to Income Tax

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Published by
The Honourable James M. Flaherty, P.C., M.P.
Minister of Finance

July 2010


Related Document:


pdf Legislative Proposals
pdf Explanatory Notes

Table of Contents

Clause in Legislation Section  Amended Topic
1   Title
Part 1 – General Amendments Related to Income Tax
2 4 Income or Loss from a Source or from Sources in a Place – Deductions Applicable
3 6 Employment Income
4 7 Employment Security Options – Definitions
5 8 Income from Office or Employment – Deductions
6 12 Income Inclusions
7 13 Depreciable Property
8 14 Eligible Capital Property
9 15 Shareholder Benefits
10 18 Prohibited Deductions
11 18.1 Non‑application of Section 18.1
12 20 Deductions
13 37 Scientific Research and Experimental Development
14 38.1 Allocation of Gain on Gifts to Qualified Donees
15 40 Gains and Losses – General Rules
16 43 Part Dispositions
17 43.1 Life Estates in Real Property
18 44 Exchanges of Property
19 44.1 Capital Gains Deferral – Eligible Small Business Investments
20 51 Convertible Property
21 52 Cost of Certain Property
22 53 Adjustments to Cost Base
23 54 Definitions – Capital Gains and Losses
24 54.1 Exception to Principal Residence Rules
25 55 Tax Avoidance – Dividends
26 56 Other Sources of Income
27 56.4 Restrictive Covenants
28 60 Deductions in Computing Income
29 60.011 Application of Paragraph 60(1) to Annuity With Trust as a Annuitant
30 63 Child Care Expenses
31 66 Exploration and Development Expenses
32 66.7 Exploration and Development Expenses – Successor Rules.
33 68 Allocation of Amounts in Consideration for Property, Services or Restrictive Covenants
34 69 Inadequate Consideration.
35 70 Death of a Taxpayer
36 72 Election by Legal Representative and Transferee re Reserves.
37 73 Inter Vivos Transfers by Individuals
38 75.2 Rules Applicable With Respect to “qualifying trust annuity”
39 80.2 Reimbursement of Crown Charges
40 82 Taxable Dividends Received
41 84 Deemed Dividend
42 85 Transfer of Property to Corporation by Shareholders
43 86.1 Eligible Distribution Not Included in Income
44 87 Amalgamations
45 88 Winding-up of a Corporation
46 89 Taxable Canadian Corporation
47 91 Amounts to be Included in Respect of Share of Foreign Affiliate
48 95 Foreign Affiliates
49 96 Partnerships and their Members
50 99 Fiscal Period of Terminated Partnership
51 100 Replacement of Partnership Capital
52 104 Trusts and their Beneficiaries
53 106 Proceeds of Disposition of Income Interest
54 107 Interests in Trusts
55 107.1 Dispositions by Employee Trust, Employee Benefit Plan or Similar Trust
56 107.2 Distribution by a Retirement Compensation Arrangement
57 107.4 Qualifying Disposition
58 108 Taxation of Trusts and Their Beneficiaries
59 110 Taxable Income – Deductions
60 110.1 Charitable Donations Deduction
61 110.6 Lifetime Capital Gains Exemption
62 111 Loss Carryovers
63 113 Deduction in Respect of Dividend Received from Foreign Affiliate
64 116 Certificates for Dispositions
65 118 Personal Tax Credits
66 118.1 Charitable Donations Tax Credit
67 118.2 Medical Expense Tax Credit
68 118.3 Dependant having Impairment
69 118.5 Tuition Credit
70 118.6 Education Tax Credit
71 188.7 Credit for EI and QPIP Premiums and CPP Contributions
72 120.2 Minimum Tax Carry-over
73 120.31 Lump-sum Payments
74 120.4 Tax on Split Income
75 122 Tax Payable by Inter Vivos Trust
76 122.3 Overseas Employment Tax Credit
77 123.4 Corporate Tax Reductions
78 125 Small Business Deduction
79 125.1 Manufacturing and Processing Profits Deduction
80 125.11 Resource Income
81 126 Foreign Tax Credit.
82 126.1 UI Premium Tax Credit
83 127 Deductions in Computing Tax
84 127.4 Labour-sponsored Venture Capital Corporations
85 127.52 Minimum Tax
86 128.1 Returning Trust Beneficiary
87 129 Private Corporations – Refundable Dividend Tax on Hand
88 132 Definition “mutual fund trust”
89 132.11 Taxation Year of Mutual Fund Trust
90 132.2 Mutual Fund Qualifying Exchanges
91 134.1 Non‑resident-owned Investment Corporations – Transition
92 136 Cooperative Corporation
93 137 Credit Unions
94 137.1 Deposit Insurance Corporations
95 138 Insurance Corporations
96 142.6 Mark-to-market Rules
97 142.7 Authorized Foreign Banks – Conversion
98 143 Communal Organizations
99 143.2 Limited-recourse Debt in Respect of a Gift or Monetary Contribution
100 143.3 Expenditure – Limitations
101 146 Registered Retirement Savings Plans
102 146.01 Home Buyers’ Plan
103 146.1 Registered Education Savings Plans – Conditions for Registration
104 146.3 Registered Retirement Income Funds
105 147 Deferred Profit Sharing Plans
106 148 Amounts Included in Computing Policyholder’s Income
107 148.1 Eligible Funeral Arrangements
108 149 Exemptions
109 149.1 Charities
110 152 Assessment
111 153 Withholding
112 157 Instalments
113 159 Person Acting for Another – Personal Liability
114 160 Tax Liability – Non‑arm’s Length Transfers of Property
115 160.1 Where Excess Refunded
116 160.2 Joint and Several Liability – Amounts Received out of or under RRSP
117 160.3 Liability – Amounts Received out of or under RCA Trust
118 160.4 Liability – Transfers by Insolvent Corporation
119 162 Penalties
120 163 False Statements or Omissions – GSTC Payments
121 164 Refunds
122 Part I.3 Large Corporations Tax
123 181.2 Taxable Capital Employed in Canada
124 181.3 Taxable Capital Employed in Canada of Financial Institution
125 Part III Additional Tax on Excessive Elections
126 188 Revocation Tax
127 190.13 Financial Institutions Capital Tax
128 191 Excluded Dividend – Partner
129 191.1 Tax on Taxable Dividends
130 200 Distribution Deemed Disposition
131 204.81 Labour-sponsored Venture Capital Corporations
132 204.9 Transfers Between Plans
133 Part XI Foreign Property Rules
134 207.31 Tax Payable by Recipient of an Ecological Gift
135 Part XII.2 Tax on Designated Income of Certain Trusts
136 210.2 Amateur Athlete Trusts
137 Part XII.4 Tax on Qualifying Environmental Trusts
138 Part XII.5 Recovery of Labour-Sponsored Funds Tax Credit
139 212 Taxation of Non‑residents
140 214 Deemed Payments
141 216 Alternative re Rents and Timber Royalties
142 220 Administration and Enforcement
143 230 Records and Books
144 231.2 Requirement to Provide Documents or Information
145 233.4 Returns Respecting Foreign Affiliates
146 237.1 Tax Shelters
147 241 Provision of Information
148 248 Interpretation
149 249 Taxation Year
150 251 Arm’s Length
151 252 Extended meaning of “spouse” and “former spouse”
152 253.1 Investments in Limited Partnerships
153 256 Acquisition of Control of a Corporation
154 259 Proportional Holdings in Properties
155 260 Securities Lending Arrangements
156 Schedule Listed Corporations
157 152(4.2) Reassessment with Taxpayer’s Consent
158   An Act to Amend the Income Tax Act (Natural Resources)
159   Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act
160 FPFAA 12.2 Federal-Provincial Fiscal Arrangements Act.
161 and 162   Income Tax Amendments Act, 2000
163 ITR 1100 Cost Reduction.
164 ITR 1101 Franchise, Concession or License
165 – 167 ITR 2000-2002 Political Contributions.
168 ITR 3501 Gifts
169 ITR 3504 Prescribed Donee
170 – 174 ITR 4800-4803 Status of Corporations and Trusts
175 ITR 6202.1 Flow-through Shares - Prescribed Rights and Shares
176 ITR 8604 Prescribed Corporations
Part 2 – Amendments to the Income Tax Act Related to Bijuralism
177 - 255   Bijuralism Amendments