A is the individual's adjusted income for the base taxation year, and
	B is the rate of tax payable under Part XIII by the individual on the particular amount;
	(b) where the individual has not filed a return of income for the base taxation year in relation to the month and
	(i) the Minister has demanded under subsection 150(2) that the individual file the return, or
	(ii) the individual was non-resident at any time in the base taxation year,
	the amount by which the particular amount exceeds the amount of tax payable under Part XIII by the individual on the particular amount; and
	(c) in any other case, nil.
Return	(5) Every individual liable to pay tax under this Part for a taxation year shall
	(a) file with the Minister, without notice or demand therefor,
	(i) where the individual is resident in Canada throughout the taxation year, a return for the year under this Part in prescribed form and containing prescribed information on or before the individual's filing-due date for the year, and
	(ii) in any other case, a return of income for the year on or before the individual's balance-due day for the year; and
	(b) pay the individual's tax payable under this Part for the year on or before the individual's balance-due day for the year.
Provisions applicable to this Part	(6) Subsection 150(3), sections 150.1, 151 and 152, subsections 153(1.1), (1.2) and (3), sections 155 to 156.1 and 158 to 167 and Division J of Part I apply to this Part with any modifications that the circumstances require.
	(2) Subsection 180.2(1) of the Act, as enacted by subsection (1), applies after June 1996.
	(3) Subsections 180.2(2), (5) and (6) of the Act, as enacted by subsection (1), apply to the 1996 and subsequent taxation years.
	(4) Subsections 180.2(3) and (4) of the Act, as enacted by subsection (1), apply to amounts paid after June 1996.
	47. (1) The portion of subsection 181.1(1) of the Act before paragraph (a) is replaced by the following:
Tax payable	181.1 (1) Every corporation shall pay a tax under this Part for each taxation year equal to 0.225% of the amount, if any, by which
	(2) Subsection (1) applies to taxation years that end after February 27, 1995, except that, in its application to taxation years that began before February 28, 1995, there shall be deducted from the tax otherwise payable under subsection 181.1(1) of the Act, as amended by subsection (1), an amount equal to that proportion of 1/9 of the tax otherwise payable under that subsection of the Act that the number of days in the year that were before February 28, 1995 is of the number of days in the year.
	(3) For the purpose of applying subsection 125(5.1) of the Act, the amount that would, but for subsections 181.1(2) and (4) of the Act, be a corporation's tax payable under Part I.3 of the Act for a taxation year that began before February 28, 1995 shall be determined without reference to the amendment made by subsection (1).
	48. (1) Subsections 186(1) and (1.1) of the Act are replaced by the following:
Tax on assessable dividends	186. (1) Every corporation (in this section referred to as the ``particular corporation'') that is at any time in a taxation year a private corporation or a subject corporation shall, on or before the last day of the third month after the end of the year, pay a tax under this Part for the year equal to the amount, if any, by which the total of
	(a) 1/3 of all assessable dividends received by the particular corporation in the year from corporations other than payer corporations connected with it, and
	(b) all amounts, each of which is an amount in respect of an assessable dividend received by the particular corporation in the year from a private corporation or a subject corporation that was a payer corporation connected with the particular corporation, equal to that proportion of the payer corporation's dividend refund (within the meaning assigned by paragraph 129(1)(a)) for its taxation year in which it paid the dividend that
	(i) the amount of the dividend received by the particular corporation
	is of
	(ii) the total of all taxable dividends paid by the payer corporation in its taxation year in which it paid the dividend and at a time when it was a private corporation or a subject corporation
	exceeds 1/3 of the total of
	(c) such part of the particular corporation's non-capital loss and farm loss for the year as it claims, and
	(d) such part of the particular corporation's
	(i) non-capital loss for any of its 7 taxation years immediately preceding or 3 taxation years immediately following the year, and
	(ii) farm loss for any of its 10 taxation years immediately preceding or 3 taxation years immediately following the year
	as it claims, not exceeding the portion thereof that would have been deductible under section 111 in computing its taxable income for the year if subparagraph 111(3)(a)(ii) were read without reference to the words ``the particular taxation year and'' and if the corporation had sufficient income for the year.
Reduction where Part IV.1 tax payable	(1.1) Notwithstanding subsection (1), where an assessable dividend was received by a corporation in a taxation year and was included in an amount in respect of which tax under Part IV.1 was payable by the corporation for the year, the tax otherwise payable under this Part by the corporation for the year shall be reduced
	(a) where the assessable dividend is described in paragraph (1)(a), by 10% of the assessable dividend, and
	(b) where the assessable dividend is described in paragraph (1)(b), by 30% of the amount determined under that paragraph in respect of the assessable dividend.
	(2) Section 186 of the Act is amended by adding the following after subsection (2):
Definitions	(3) The definitions in this subsection apply in this Part.
``assessable dividend'' « dividende déterminé »	``assessable dividend'' means an amount received by a corporation at a time when it is a private corporation or a subject corporation as, on account of, in lieu of payment of or in satisfaction of, a taxable dividend from a corporation, to the extent of the amount in respect of the dividend that is deductible under section 112, paragraph 113(1)(a), (b) or (d) or subsection 113(2) in computing the recipient corporation's taxable income for the year.
``subject corporation'' « société assujettie »	``subject corporation'' means a corporation (other than a private corporation) resident in Canada and controlled, whether because of a beneficial interest in one or more trusts or otherwise, by or for the benefit of an individual (other than a trust) or a related group of individuals (other than trusts).
	(3) Subsection 186(5) of the Act is replaced by the following:
Deemed private corporation	(5) A corporation that is at any time in a taxation year a subject corporation shall, for the purposes of paragraph 87(2)(aa) and section 129, be deemed to be a private corporation at that time, except that its refundable dividend tax on hand (within the meaning assigned by subsection 129(3)) at the end of the year shall be determined without reference to paragraph 129(3)(a).
	(4) Subsections (1) to (3) apply to taxation years that end after June 1995 except that, in applying subsection (1) to any such taxation year that begins before July 1995,
	(a) in the application of subsection 186(1) of the Act, as enacted by subsection (1), to amounts described in paragraphs 186(1)(a) and (b) of the Act, as enacted by subsection (1), that were received by the corporation in the year and before July 1995, the references in that subsection of the Act, as enacted by subsection (1), to ``1/3'' shall be read as ``1/4'';
	(b) amounts deducted by the corporation for the year under paragraphs 186(1)(c) and (d) of the Act, as enacted by subsection (1),
	(i) are deemed to have been deducted in respect of amounts described in paragraphs 186(1)(a) and (b) of the Act, as enacted by subsection (1), that were received by the corporation in the year and after June 1995, and
	(ii) to the extent that the amounts so deducted exceed the amounts referred to in subparagraph (i), are deemed to have been deducted in respect of amounts described in paragraphs 186(1)(a) and (b) of the Act, as enacted by subsection (1), that were received by the corporation in the year and before July 1995; and
	(c) in the application of subsection 186(1.1) of the Act, as enacted by subsection (1), to amounts described in paragraph 186(1.1)(b) of the Act, as enacted by subsection (1), that were received by the corporation in the year and before July 1, 1995, the reference in that paragraph, as enacted by subsection (1), to ``30%'' shall be read as ``40%''.
	49. (1) Section 190.1 of the Act is amended by adding the following after subsection (1.1):
Additional tax payable by deposit- taking institutions	(1.2) Every corporation (other than a life insurance corporation) that is a financial institution at any time in a taxation year shall pay a tax under this Part for the year, in addition to any tax payable under subsection (1), equal to the amount determined by the formula
	0.0015 x (A - B) x C 365
	where
	A is the corporation's taxable capital employed in Canada for the year;
	B is its enhanced capital deduction for the year; and
	C is the number of days in the year that are after February 27, 1995 and before November 1996.
	(2) Paragraph 190.1(3)(c) of the Act is replaced by the following:
	(c) the amount that would, but for subsection (1.2) and this subsection, be its tax payable under this Part for the year
	(3) Subsections (1) and (2) apply to taxation years that end after February 27, 1995.
	(4) No interest is payable under subsection 161(2) of the Act in respect of any amount that became payable before July 1995 because of subsection 190.1(1.2) of the Act, as enacted by subsection (1).
	50. (1) The Act is amended by adding the following after section 190.16:
Enhanced capital deduction	190.17 (1) For the purpose of subsection 190.1(1.2), the enhanced capital deduction of a corporation for a taxation year is $400,000,000, unless the corporation was related to a financial institution (other than a life insurance corporation) at the end of the year, in which case, subject to subsection (4), the corporation's enhanced capital deduction for the year is nil.
Related financial institution	(2) A corporation that is a financial institution at any time in a taxation year and that is related to another financial institution (other than a life insurance corporation) at the end of the year may file with the Minister an agreement in prescribed form on behalf of the related group of which the corporation is a member under which an amount that does not exceed $400,000,000 is allocated among the members of the group for the year.
Minister's powers	(3) The Minister may request a corporation that is a financial institution at any time in a taxation year and that is related to any other financial institution (other than a life insurance corporation) at the end of the year to file with the Minister an agreement referred to in subsection (2) and, if the corporation does not file such an agreement within 30 days after receiving the request, the Minister may allocate an amount that does not exceed $400,000,000 among the members of the related group of which the corporation is a member for the year.
Least amount allocated	(4) The least amount allocated for a taxation year to a member of a related group under an agreement described in subsection (2) or by the Minister under subsection (3) is the enhanced capital deduction for the taxation year of the member, but, if no such allocation is made, the enhanced capital deduction of the member for the year is nil.
Provisions applicable to Part	(5) Subsections 190.15(5) and (6) apply to this section with such modifications as the circumstances require.
	(2) Subsection (1) applies to taxation years that end after February 27, 1995.
	51. (1) Paragraph 204.2(1.1)(b) of the Act is replaced by the following:
	(b) the amount determined by the formula
	A + B + C + D + E
	where
	A is the individual's unused RRSP deduction room at the end of the preceding taxation year,
	B is the amount, if any, by which
	(i) the lesser of the RRSP dollar limit for the year and 18% of the individual's earned income (as defined in subsection 146(1)) for the preceding taxation year
	exceeds the total of all amounts each of which is
	(ii) the individual's pension adjustment for the preceding taxation year in respect of an employer, or
	(iii) a prescribed amount in respect of the individual for the year,
	C is, where the individual attained 18 years of age in a preceding taxation year, $2,000, and in any other case, nil,
	D is the group RRSP amount in respect of the individual at that time, and
	E is, where the individual attained 18 years of age before 1995, the individual's transitional amount at that time, and in any other case, nil.
	(2) The portion of subsection 204.2(1.2) of the Act before the formula is replaced by the following:
Undeducted RRSP premiums	(1.2) For the purposes of subsection (1.1) and the description of K in paragraph (1.3)(a), the amount of undeducted RRSP premiums of an individual at any time in a taxation year is the amount determined by the formula
	(3) Subsection 204.2(1.3) of the Act is replaced by the following:
Group RRSP amount	(1.3) For the purposes of this section, the group RRSP amount in respect of an individual at any time in a taxation year is the lesser of
	(a) the lesser of the value of F and the amount determined by the formula
	F - (G - K)
	where
	F is the lesser of
	(i) the total of all amounts each of which is a qualifying group RRSP premium paid by the individual, to the extent that the premium is included in determining the value of I in subsection (1.2) in respect of the individual at that time, and
	(ii) the RRSP dollar limit for the following taxation year,
	G is the amount that would be determined under paragraph (1.1)(b) in respect of the individual at that time if the values of C, D and E in that paragraph were nil, and
	K is