Canada Income Tax Act

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
        • 47.1 – Indexed Security Investment Plans
      • 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
      • 115.2 – Non-Residents with Canadian Investment Service Providers
    • 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
        • 123.4 – Corporation Tax Reductions
        • 125.4 – Canadian Film or Video Production Tax Credit
        • 125.5 – Film or Video Production Services Tax Credit
      • 126 – SUBDIVISION C – Rules Applicable to all Taxpayers
    • 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

• Related Provisions
• Amendments Not In Force

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