42-43 ELIZABETH II

CHAPTER 7

An Act to revise certain income tax law amendments in terms of the revised Income Tax Act and Income Tax Application Rules

[Assented to 12th May, 1994]

Preamble

WHEREAS the Income Tax Act and the Income Tax Application Rules are included in the Revised Statutes of Canada, 1985 as chapters 1 and 2 of the fifth supplement to those Revised Statutes;

AND WHEREAS the revised Income Tax Act and Income Tax Application Rules apply to taxation years and other periods ending, and certain events occurring, after November 1991;

AND WHEREAS the income tax law amendments assented to before December 1991 were included in the consolidation of the revised Income Tax Act and Income Tax Application Rules;

AND WHEREAS a further number of income tax amendments, drafted in terms of the Income Tax Act and Income Tax Application Rules as those Acts read before being revised, was assented to between November 30, 1991 and July 1, 1993, during which period the fifth supplement to the Revised Statutes was not yet in force;

AND WHEREAS it is expedient to enact a version of the income tax law amendments assented to between November 30, 1991 and July 1, 1993 that is identical in substance with the original version but redrafted in terms of the revised Income Tax Act and Income Tax Application Rules in order to be read together with those Acts in cases where those Acts apply;

NOW, THEREFORE, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

SHORT TITLE

Short title

1. This Act may be cited as the Income Tax Amendments Revision Act.

INTERPRETATION

Definitions

2. In this Act,

``Income Tax Act''
« Loi de l'impôt sur le revenu »

``Income Tax Act'' means the Income Tax Act, chapter 1 of the 5th Supplement to the Revised Statutes of Canada, 1985;

``Income Tax Application Rules''
« Règles concernant l'application de l'impôt sur le revenu »

``Income Tax Application Rules'' means the Income Tax Application Rules, chapter 2 of the 5th Supplement to the Revised Statutes of Canada, 1985.

SCHEDULES

Revised version of amendments

3. Each of Schedules I to IX contains the income tax law amending provisions, redrafted in terms of the Income Tax Act and Income Tax Application Rules, of the Act referred to in the heading of each of those Schedules.

INTERPRETATION OF SCHEDULES

Schedules assimilated to R.S.C. 1985

4. A schedule shall be interpreted as if it were an amending Act contained in one of the supplements to the Revised Statutes of Canada, 1985 and enacted under the authority of the Statute Revision Act and the Revised Statutes of Canada, 1985 Act.

Application of R.S., c. S-20, c. 40 (3rd Supp.), and c. 2 (5th Supp.)

5. For greater certainty, the Statute Revision Act, the Revised Statutes of Canada, 1985 Act and sections 69 and 74 to 78 of the Income Tax Application Rules apply to a schedule, with such modifications as the circumstances require.

COMING INTO FORCE

Coming into force of Act

6. (1) Subject to subsection (2), this Act comes into force, or is deemed to have come into force, on March 1, 1994.

Coming into force of schedules

(2) Subject to any provision to the contrary in the schedules, each schedule is deemed to have come into force on the day the Act referred to in the heading of the schedule was assented to.