Income Tax Act ( R.S.C. , 1985, c. 1 (5th Supp.))
it was incorporated in Canada and, at any time in the taxation year or at any time in any preceding taxation year commencing after 1971, it was resident in Canada or carried on business in Canada; and
- (a) for the purposes of applying this Act (other than subsection 250(4)) in respect of all times from the time of continuation until the time, if any, of continuation in a different jurisdiction, be deemed to have been incorporated in the particular jurisdiction and not to have been incorporated in any other jurisdiction; and
- (b) for the purpose of applying subsection 250(4) in respect of all times from the time of continuation until the time, if any, of continuation in a different jurisdiction, be deemed to have been incorporated in the particular jurisdiction at the time of continuation and not to have been incorporated in any other jurisdiction.
- (a) the corporation
- (i) has international shipping as its principal business in the year, or
- (ii) holds eligible interests in one or more eligible entities throughout the year and at no time in the year is the total of the cost amounts to it of all those eligible interests and of all debts owing to it by an eligible entity in which an eligible interest is held by it, by a person related to it or by a partnership affiliated with it less than 50% of the total of the cost amounts to it of all its property;
- (i) gross revenue from international shipping,
- (ii) gross revenue from an eligible interest held by it in an eligible entity, and
- (iii) interest on a debt owing by an eligible entity in which an eligible interest is held by it, by a person related to it or by a partnership affiliated with it;
- (a) the relevant entity does not satisfy the condition in subparagraph (6)(a)(i), determined without reference to subsection (6.03);
- (b) all or substantially all the gross revenue of the relevant entity for the year consists of any one or more of
- (i) gross revenue from the provision of services to one or more eligible entities, other than services described in any of paragraphs (a) to (h) of the definition in subsection 248(1),
- (ii) gross revenue from international shipping,
- (iii) gross revenue from an eligible interest held by it in an eligible entity, and
- (iv) interest on a debt owing by an eligible entity in which an eligible interest is held by it or a person related to it;
- (i) the relevant entity,
- (ii) one or more persons related to the relevant entity (if the relevant entity and each such person is a corporation), or persons or partnerships affiliated with the relevant entity (in any other case), or
- (iii) any combination of the relevant entity and persons or partnerships described in subparagraph (ii); and
- (a) the relevant entity is deemed to have international shipping as its principal business in the year; and
- (b) the gross revenue described in subparagraph (6.02)(b)(i) is deemed to be gross revenue from international shipping.
- (a) a corporation that is deemed by subsection (6) to be resident in a country other than Canada for the year;
- (a.1) a corporation resident in Canada (if this Act were read without reference to subsection (4)) that satisfies the conditions set out in paragraphs (6)(a) and (b); or
- (b) a partnership or trust, if
- (i) it satisfies the conditions in subparagraph (6)(a)(i) or (ii), and
- (ii) all or substantially all its gross revenue for the year consists of any combination of amounts described in any of subparagraphs (6)(b)(i) to (iii). ( entité admissible )
- (a) in respect of a corporation, shares of the capital stock of the corporation that
- (i) give the holders of those shares not less than 25% of the votes that could be cast at an annual meeting of the shareholders of the corporation, and
- (ii) have a fair market value that is not less than 25% of the fair market value of all the issued and outstanding shares of the capital stock of the corporation;
- (a) the holder;
- (b) if the holder is a corporation,
- (i) each corporation related to the holder, and
- (ii) each person, other than a corporation, or partnership that is affiliated with the holder; and
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- R.S., 1985, c. 1 (5th Supp.), s. 250
- 1994, c. 7, Sch. II, s. 194, Sch. VII, s. 22, c. 21, s. 111
- 1995, c. 3, s. 54
- 1998, c. 19, ss. 67, 241
- 1999, c. 22, s. 82
- 2000, c. 12, s. 142, c. 19, s. 68
- 2001, c. 17, s. 190
- 2011, c. 24, s. 74
- 2014, c. 39, s. 74
- 2021, c. 23, s. 62
- 2024, c. 17, s. 76
