Archived - Explanatory Notes Relating to the Income Tax Act, the Air Travellers Security Charge Act and the Excise Tax Act

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Published by
The Honourable Ralph Goodale, P.C., M.P.
Minister of Finance

March 2005

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Table of Contents


Clause in Legislation

Section of the Act Amended

Topic


Income Tax

2

37

SR&ED in the exclusive economic zone

3

86.1

Foreign spin-offs

4

107.4

Tax consequences of qualifying dispositions

5

118

Personal credits

6

118.1

Tsunami relief

7

122.51

Refundable medical expense supplement

8

122.61

CCTB - child disability supplement

9

123.2

Corporate surtax

10

123.4

Corporation tax reductions

11

125.1

Manufacturing and processing profits deductions

12

146.1

Registered education savings plans

13

147.1

Registered pension plans

14

204.4

Tax in respect of registered investments

15

204.8

Labour-sponsored venture capital corporations

16

Part XI

Foreign property rules

17 and 18

Part XI.1

Deferred income plans.

19

248

Definitions

20

259

Proportional holdings in properties


Income Tax Application Rules

21

65

Part XI of amended Act


Air Travellers Security Charge

22

12

Amount of Charge if Service Acquired in Canada

23

12

Coordinating Amendment


Goods and Services Tax/Harmonized Sales Tax

24

259

GST/HST Health Care Rebate

25

295

Business Number Unification

26

323(1)

Liability of Directors


Excise Tax on Jewellery

27

5 Sch 1

Excise Tax on Jewellery