(b) tangible property situated outside Canada,
	(c) a share of the capital stock of a non-resident corporation,
	(d) an interest in a non-resident trust or a trust that, but for section 94, would be a non-resident trust for the purpose of this section,
	(e) an interest in a partnership that owns or holds specified foreign property,
	(f) an interest in, or right with respect to, an entity that is non-resident,
	(g) indebtedness owed by a non-resident person,
	(h) an interest in or right, under a contract, in equity or otherwise, either immediately or in the future and either absolutely or contingently, to any property (other than any property owned by a corporation or trust that is not the person) that is specified foreign property, and
	(i) property that, under the terms or conditions thereof or any agreement relating thereto, is convertible into, is exchangeable for or confers a right to acquire, property that is specified foreign property,
	but does not include
	(j) property that is used or held exclusively in the course of carrying on an active business of the person or partnership (determined as if the person or partnership were a corporation resident in Canada),
	(k) a share of the capital stock or indebtedness of a non-resident corporation that is a foreign affiliate of the person or partnership for the purpose of section 233.4,
	(l) an interest in, or indebtedness of, a non-resident trust that is a foreign affiliate of the person or partnership for the purpose of section 233.4,
	(m) an interest in a non-resident trust that was not acquired for consideration by either the person or partnership or a person related to the person or partnership,
	(n) an interest in a trust described in paragraph (a) or (b) of the definition ``exempt trust'' in subsection 233.2(1),
	(o) an interest in a partnership that is a specified Canadian entity,
	(p) personal-use property of the person or partnership, and
	(q) an interest in or right to acquire a property that is described in any of paragraphs (j) to (p).
Application to members of partnerships	(2) For the purpose of this section, a person who is a member of a partnership that is a member of another partnership
	(a) is deemed to be a member of the other partnership; and
	(b) the person's share of the income or loss of the other partnership is deemed to be equal to the amount of that income or loss to which the person is directly or indirectly entitled.
Returns respecting foreign property	(3) A reporting entity for a taxation year or fiscal period shall file with the Minister for the year or period a return in prescribed form on or before the day that is
	(a) where the entity is a partnership, the day on or before which a return is required by section 229 of the Income Tax Regulations to be filed in respect of the fiscal period of the partnership or would be required to be so filed if that section applied to the partnership; and
	(b) where the entity is not a partnership, the entity's filing-due date for the year.
Reporting entity	233.4 (1) For the purpose of this section, ``reporting entity'' for a taxation year or fiscal period means
	(a) a taxpayer resident in Canada (other than a taxpayer all of whose taxable income for the year is exempt from tax under Part I) of which a non-resident corporation is a foreign affiliate at any time in the year;
	(b) a taxpayer resident in Canada (other than a taxpayer all of whose taxable income for the year is exempt from tax under Part I) of which a non-resident trust is a foreign affiliate at any time in the year; and
	(c) a partnership
	(i) where the total of all amounts, each of which is a share of the partnership's income or loss for the period of a non-resident member, is less than 90% of the income or loss of the partnership for the period, and, where the income and loss of the partnership are nil for the period, the income of the partnership for the period is deemed to be $1,000,000 for the purpose of determining a member's share of the partnership's income for the purpose of this subparagraph, and
	(ii) of which a non-resident corporation or trust is a foreign affiliate of which at any time in the fiscal period.
Rules of application	(2) For the purpose of this section, in determining whether a non-resident corporation or trust is a foreign affiliate or a controlled foreign affiliate of a taxpayer resident in Canada or of a partnership
	(a) paragraph (b) of the definition ``equity percentage'' in subsection 95(4) shall be read as if the reference to ``any corporation'' were a reference to ``any corporation other than a corporation resident in Canada'';
	(b) the definitions ``direct equity percentage'' and ``equity percentage'' in subsection 95(4) shall be read as if a partnership were a person; and
	(c) the definitions ``controlled foreign affiliate'' and ``foreign affiliate'' in subsection 95(1) shall be read as if a partnership were a taxpayer resident in Canada.
Application to members of partnerships	(3) For the purpose of this section, a person who is a member of a partnership that is a member of another partnership
	(a) is deemed to be a member of the other partnership; and
	(b) the person's share of the income or loss of the other partnership is deemed to be equal to the amount of that income or loss to which the person is directly or indirectly entitled.
Returns respecting foreign affiliates	(4) A reporting entity for a taxation year or fiscal period shall file with the Minister for the year or period a return in prescribed form in respect of each foreign affiliate of the entity in the year or period within 15 months after the end of the year or period.
Due diligence exception	233.5 The information required in a return filed under section 233.2 or 233.4 does not include information that is not available, on the day on which the return is filed, to the person or partnership required to file the return where
	(a) there is a reasonable disclosure in the return of the unavailability of the information;
	(b) before that day, the person or partnership exercised due diligence in attempting to obtain the information;
	(c) if
	(i) the return is required to be filed under section 233.2, or
	(ii) the return is required to be filed under section 233.4 by a person or partnership in respect of a corporation that is a controlled foreign affiliate, for the purpose of that section, of the person or partnership,
	it was reasonable to expect, at the time of each transaction, if any, entered into by the person or partnership after March 5, 1996 that gives rise to the requirement to file the return or that affects the information to be reported in the return, that sufficient information would be available to the person or partnership to comply with that section; and
	(d) if the information subsequently becomes available to the person or partnership, it is filed with the Minister not more than 90 days after it becomes so available.
Returns respecting distributions from non-resident trusts	233.6 (1) Where a specified Canadian entity (as defined by subsection 233.3(1)) for a taxation year or fiscal period receives a distribution of property from, or is indebted to, a non-resident trust (other than a trust that was an excluded trust in respect of the year or period of the entity or an estate that arose on and as a consequence of the death of an individual) in the year or period and the entity is beneficially interested in the trust at any time in the year or period, the entity shall file with the Minister for the year or period a return in prescribed form on or before the day that is
	(a) where the entity is a partnership, the day on or before which a return is required by section 229 of the Income Tax Regulations to be filed in respect of the fiscal period of the partnership or would be required to be so filed if that section applied to the partnership; and
	(b) where the entity is not a partnership, the entity's filing-due date for the year.
Excluded trust defined	(2) For the purpose of subsection (1), an excluded trust in respect of the taxation year or fiscal period of an entity means
	(a) a trust described in paragraph (a) or (b) of the definition ``exempt trust'' in subsection 233.2(1) throughout the portion of the year or period during which the trust was extant;
	(b) a trust in respect of which the entity is required by section 233.2 to file a return in respect of each taxation year of the trust that ends in the entity's year;
	(c) a trust an interest in which is at any time in the year or period specified foreign property (as defined by subsection 233.3(1)) of the entity, where the entity is a reporting entity (as defined by subsection 233.3(1)) for the year or period; and
	(d) a trust in respect of which the entity is required by section 233.4 to file a return for the year or period.
Exception for first-year residents	233.7 Notwithstanding sections 233.2, 233.3, 233.4 and 233.6, a person who, but for this section, would be required under any of those sections to file an information return for a taxation year, is not required to file the return if the person is an individual (other than a trust) who first became resident in Canada in the year.
	(2) Section 233.2 of the Act, as enacted by subsection (1), applies to returns in respect of trusts' taxation years that begin after 1995, except that such a return in respect of a taxation year that ends in 1996, 1997 or 1998 is required to be filed on or before the later of
	(a) April 30, 1998, and
	(b) the day on or before which the return is otherwise required to be filed.
	(3) Sections 233.3 and 233.6 of the Act, as enacted by subsection (1), apply to returns for taxation years and fiscal periods that begin after 1995, except that such a return for a taxation year or fiscal period that ends in 1996, 1997 or 1998 is required to be filed on or before the later of
	(a) April 30, 1998, and
	(b) the day on or before which the return is otherwise required to be filed.
	(4) Section 233.4 of the Act, as enacted by subsection (1), applies to returns for taxation years and fiscal periods that begin after 1995, except that such a return for a taxation year or fiscal period that ends in 1996, 1997 or 1998 is required to be filed on or before the later of
	(a) June 30, 1998, and
	(b) the day on or before which the return is otherwise required to be filed.
	(5) Sections 233.5 and 233.7 of the Act, as enacted by subsection (1), apply to returns required to be filed on or before a day that is after April 29, 1998.
	70. Subparagraph 241(4)(d)(vi.1) of the Act is replaced by the following:
	(vi.1) to an official of the Department of Natural Resources solely for the purpose of determining whether property is prescribed energy conservation property or whether an outlay or expense is a Canadian renewable and conservation expense ,
	71. (1) The definitions ``balance-due day'', ``exempt income'', ``oil or gas well'' and ``tar sands'' in subsection 248(1) of the Act are replaced by the following:
``balance- due day'' « date d'exigibilité du solde »	``balance-due day'' of a taxpayer for a taxation year means,
	(a) where the taxpayer is a trust, the day that is 90 days after the end of the year,
	(b) where the taxpayer is an individual who died after October in the year and before May in the following taxation year, the day that is 6 months after the day of death,
	(c) in any other case where the taxpayer is an individual , April 30 in the following taxation year, and
	(d) where the taxpayer is a corporation, the day on or before which the corporation is required under section 157 to pay the remainder of its tax payable under Part I for the year or would be so required if such a remainder were payable;
``exempt income'' « revenu exonéré »	``exempt income'' means property received or acquired by a person in such circumstances that it is, because of any provision of Part I, not included in computing the person's income, but does not include a dividend on a share or a support amount (as defined in subsection 56.1(4));
``oil or gas well'' « puits de pétrole ou de gaz »	``oil or gas well'' means any well (other than an exploratory probe or a well drilled from below the surface of the earth) drilled for the purpose of producing petroleum or natural gas or of determining the existence, location, extent or quality of a natural accumulation of petroleum or natural gas, but, for the purpose of applying sections 13 and 20 and any regulations made for the purpose of paragraph 20(1)(a) in respect of property acquired after March 6, 1996, does not include a well for the extraction of material from a deposit of bituminous sands or oil shales ;
``tar sands'' « sables asphaltiques »	``tar sands'' means bituminous sands or oil shales extracted, otherwise than by a well, from a mineral resource, but, for the purpose of applying sections 13 and 20 and any regulations made for the purpose of paragraph 20(1)(a) in respect of property acquired after March 6, 1996, includes material extracted by a well from a deposit of bituminous sands or oil shales ;
	(2) Paragraph (c) of the definition ``mineral resource'' in subsection 248(1) of the Act is replaced by the following:
	(c) a bituminous sands deposit or oil shale deposit, or
	(3) Subsection 248(1) of the Act is amended by adding the following in alphabetical order:
``bituminous sands'' « sables bitumineux »	``bituminous sands'' means sands or other rock materials containing a naturally occurring viscous mixture that is composed primarily of hydrocarbons heavier than pentane, that, in its natural state, cannot flow to a well and from which, in its natural state, the hydrocarbons cannot be extracted by naturally occurring reservoir forces, conventional mechanical pumping methods or conventional physical pumping methods;
``business limit'' « plafond des affaires »	``business limit'' of a corporation for a taxation year means the amount determined under section 125 to be its business limit for the year;
``Canadian field processing'' « traitement préliminaire au Canada »	``Canadian field processing'' means, except as otherwise prescribed,
	(a) the processing in Canada of raw natural gas at a field separation and dehydration facility,
	(b) the processing in Canada of raw natural gas at a natural gas processing plant to any stage that is not beyond the stage of natural gas that is acceptable to a common carrier of natural gas,
	(c) the processing in Canada of hydrogen sulphide derived from raw natural gas to any stage that is not beyond the marketable sulphur stage,
	(d) the processing in Canada of natural gas liquids, at a natural gas processing plant where the input is raw natural gas derived from a natural accumulation of natural gas, to any stage that is not beyond the marketable liquefied petroleum stage or its equivalent,
	(e) the processing in Canada of crude oil (other than heavy crude oil recovered from an oil or gas well or a tar sands deposit) recovered from a natural accumulation of petroleum to any stage that is not beyond the crude oil stage or its equivalent, and
	(f) prescribed activities
	and, for the purposes of paragraphs (b) to (d),