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(ii) the activity of preparing food to the
extent that the time associated with the
activity would not have been necessary in
the absence of a dietary restriction or
regime; and
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(f) dressing oneself does not include any of
the activities of identifying, finding,
shopping for or otherwise procuring
clothing.
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(3) Subsections (1) and (2) apply to the
2003 and subsequent taxation years.
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76. (1) Paragraph 118.6(3)(b) of the
English version of the Act is amended by
adding the following after subparagraph
(i):
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(i.1) a speech impairment, by a medical
doctor or a speech-language pathologist,
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(2) Paragraph 118.6(3)(b) of the French
version of the Act is amended by adding the
following after subparagraph (ii):
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(ii.1) s'il s'agit d'un trouble de la parole,
un médecin en titre ou un orthophoniste,
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(3) Subparagraph 118.6(3)(b)(iii) of the
English version of the Act is replaced by the
following:
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(iii) an impairment with respect to the
individual's ability in feeding or dressing
themself, or in walking, by a medical
doctor or an occupational therapist, or
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(4) Subparagraph 118.6(3)(b)(iv) of the
French version of the Act is replaced by the
following:
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(iv) s'il s'agit d'une déficience quant à la
capacité de marcher, de s'alimenter ou de
s'habiller, un médecin en titre ou un
ergothérapeute,
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(5) Subsections (1) and (2) apply in
respect of certifications made after October
17, 2000.
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(6) Subsections (3) and (4) apply to the
2003 and subsequent taxation years.
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77. (1) The first formula in subsection
122.61(1) of the Act is replaced by the
following:
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1/12[(A - B) + C + M]
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(2) Subsection 122.61(1) of the Act is
amended by striking out the word ``and'' at
the end of the description of B and by
replacing paragraphs (a) and (b) of the
description of F in the description of C with
the following:
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(a) only one qualified dependant,
$1,463, and
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(b) two or more qualified dependants,
the total of
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(i) $1,463 for the first qualified
dependant,
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(ii) $1,254 for the second qualified
dependant, and
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(iii) $1,176 for each of the third and
subsequent qualified dependants,
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(3) The descriptions of G and H in the
description of C in subsection 122.61(1) of
the Act are replaced by the following:
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G is the amount determined by the
formula
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J - [K - (L/0.122)]
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J is the person's adjusted income for
the year,
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K is the amount referred to in paragraph
(b) of the description of B, and
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L is the amount referred to in paragraph
(a) of the description of F, and
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(a) if the person is an eligible
individual in respect of only one
qualified dependant, 12.2%, and
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(b) if the person is an eligible
individual in respect of two or more
qualified dependants, the fraction
(expressed as a percentage rounded to
the nearest one-tenth of one per cent)
of which
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(i) the numerator is the total that
would be determined under the
description of F in respect of the
eligible individual if that
description were applied without
reference to the fourth and
subsequent qualified dependants in
respect of whom the person is an
eligible individual, and
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(ii) the denominator is the amount
referred to in paragraph (a) of the
description of F, divided by 0.122;
and
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(4) Subsection 122.61(1) of the Act is
amended by adding the following after the
description of C:
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M is the amount determined by the formula
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N - (O x P)
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N is the product obtained by multiplying
$1,600 by the number of qualified
dependants in respect of whom both
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(a) an amount may be deducted under
section 118.3 for the taxation year that
includes the month, and
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(b) the person is an eligible individual
at the beginning of the month,
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O is the amount determined by the
formula
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J - [F/H + (K - L/0.122)]
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where the descriptions of J, F, H, K, and
L are described in the description of C,
and
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P is the amount that would be determined
for the description of H if the person
were an eligible individual in respect of
only the number of qualified
dependants included in the description
of N.
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(5) Subsection 122.61(6) of the Act is
replaced by the following:
|
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| Additions to
NCB
supplement -
July 2005 and
2006
|
(6) Each amount referred to in the
description of F in subsection (1) that is to be
used for the purpose of determining the
amount deemed to be an overpayment arising
during months that are
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(a) after June 2005 and before July 2006, is
to be replaced with the amount that is the
total of $185 and the amount otherwise
determined under subsection (5) for those
months; and
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(b) after June 2006 and before July 2007, is
to be replaced with the amount that is the
total of $185 and the amount otherwise
determined, for those months, by applying
subsection (5) to the amount determined
under paragraph (a).
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(6) Subsections (1) to (5) apply in respect
of overpayments deemed to arise during
months that are after June 2003 except that,
for overpayments deemed to arise during
those months that are before July 2004, the
following applies:
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(a) the description of G in subsection
122.61(1) of the Act, as enacted by
subsection (3), is to be read as follows:
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G is the amount, if any, by which the
person's adjusted income for the year
exceeds $21,529, and
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(b) subparagraph (b)(ii) in the
description of H in subsection 122.61(1)
of the Act, as enacted by subsection (3), is
to be read as follows:
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(ii) the denominator is the amount
by which the amount referred to in
paragraph (b) of the description of B
exceeds $21,529.
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(c) the description of O in subsection
122.61(1) of the Act, as enacted by
subsection (4), is to be read as follows:
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O is the amount determined by the
formula
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(a) ``J - $33,487'', if the person is an
eligible individual in respect of three
or fewer qualified dependants, and
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(b) ``J - (F/H + $21,529)'', if the person
is an eligible individual in respect of
more than three qualified dependants,
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where the descriptions of J, F and H are
described in the description of C, and
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78. (1) The definition ``CCPC rate
reduction percentage'' in subsection
123.4(1) of the Act is repealed.
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(2) Paragraph (b) of the definition ``full
rate taxable income'' in subsection 123.4(1)
of the Act is amended by adding the word
``and'' at the end of subparagraph (ii) and
by repealing subparagraph (iv).
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(3) Paragraph (c) of the definition ``full
rate taxable income'' in subsection 123.4(1)
of the Act is replaced by the following:
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(c) if the corporation is throughout the
year an investment corporation, a
mortgage investment corporation or a
mutual fund corporation, nil.
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(4) Paragraphs 123.4(3)(a) and (b) of the
Act are replaced by the following:
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(a) the amount determined by the formula
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($300,000/A) x B
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(i) that proportion of $200,000 that the
number of days in the taxation year that
are before 2003 is of the number of days
in the taxation year,
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(ii) that proportion of $225,000 that the
number of days in the taxation year that
are in 2003 is of the number of days in the
taxation year, and
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(iii) that proportion of $250,000 that the
number of days in the taxation year that
are in 2004 is of the number of days in the
taxation year, and
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B is the corporation's business limit for
the taxation year as determined under
section 125 for the purpose of paragraph
125(1)(c),
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(b) the amount that would be determined
under paragraph 125(1)(a) in respect of the
corporation for the year if the description of
M in the definition ``specified partnership
income'' in subsection 125(7) were read as
it is to be read for fiscal periods that begin
after 2005, and
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(5) Subsection 123.4(3) of the Act is
repealed.
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(6) Subsections (1) to (3) and (5) apply to
the 2005 and subsequent taxation years.
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(7) Subsection (4) applies to the 2003 and
2004 taxation years.
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79. (1) Subsections 125(2) to (4) of the Act
are replaced by the following:
|
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| Interpretation
of business
limit
|
(2) For the purpose of this section, a
corporation's ``business limit'' for a taxation
year is $300,000 unless the corporation is
associated in the year with one or more other
Canadian-controlled private corporations in
which case, except as otherwise provided in
this section, its business limit for the year is
nil.
|
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| Associated
corporations
|
(3) Notwithstanding subsection (2), if all
the Canadian-controlled private corporations
that are associated with each other in a
taxation year file with the Minister in
prescribed form an agreement that assigns for
the purpose of this section a percentage to one
or more of them for the year, the business limit
for the year of each of the corporations is
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(a) if the total of the percentages assigned in
the agreement does not exceed 100%,
$300,000 multiplied by the percentage
assigned to that corporation in the
agreement; and
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(b) in any other case, nil.
|
|
| Failure to file
agreement
|
(4) If any of the Canadian-controlled
private corporations that are associated with
each other in a taxation year has failed to file
with the Minister an agreement as
contemplated by subsection (3) within 30 days
after notice in writing by the Minister has been
forwarded to any of them that such an
agreement is required for the purpose of any
assessment of tax under this Part, the Minister
shall, for the purpose of this section, allocate
an amount to one or more of them for the
taxation year. The total amount so allocated
must equal the least of the amounts that would,
if none of the corporations were associated
with any other corporation during the year and
if this Act were read without reference to
subsections (5) and (5.1), be the business
limits of the corporations for the year.
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(2) The description of M in the definition
``specified partnership income'' in
subsection 125(7) of the Act is replaced by
the following:
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(ii) the product obtained when
$822 is multiplied by the total of
all amounts each of which is the
number of days in a fiscal period
of the partnership that ends in the
year, and
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|
(3) Subsection (1) applies to the 2003 and
subsequent taxation years except that for
taxation years that begin before 2006
|
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|
(a) the reference in subsection 125(2) of
the Act, as enacted by subsection (1), to
``$300,000'' is to be read as a reference to
the total of
|
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|
(i) that proportion of $200,000 that the
number of days in the taxation year
that are before 2003 is of the number of
days in the taxation year,
|
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|
(ii) that proportion of $225,000 that the
number of days in the taxation year
that are in 2003 is of the number of days
in the taxation year,
|
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|
(iii) that proportion of $250,000 that
the number of days in the taxation year
that are in 2004 is of the number of days
in the taxation year,
|
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|
(iv) that proportion of $275,000 that
the number of days in the taxation year
that are in 2005 is of the number of days
in the taxation year, and
|
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|
(v) that proportion of $300,000 that the
number of days in the taxation year
that are after 2005 is of the number of
days in the taxation year; and
|
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|
|
(b) the reference in subsection 125(3) of
the Act, as enacted by subsection (1), to
``$300,000'' is to be read as a reference to
``the amount that would, if the
corporation were not associated in the
year with any other corporation, be its
business limit for the year determined
without reference to subsections (5) and
(5.1),''.
|
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|
(4) Subsection (2) applies to the 2003 and
subsequent taxation years except that, for
taxation years that begin before 2006, the
references in the description of M in the
definition ``specified partnership income''
in subsection 125(7) of the Act, as enacted
by subsection (2), to ``$300,000'' and
``$822'', are to be read,
|
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|
(a) for fiscal periods of a partnership that
end in a corporation's 2003 taxation year,
as ``$225,000'' and ``$617'', respectively;
|
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|
(b) for fiscal periods of a partnership that
end in a corporation's 2004 taxation year,
as ``$250,000'' and ``$685'', respectively;
and
|
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|
(c) for fiscal periods of a partnership that
end in a corporation's 2005 taxation year,
as ``$275,000'' and ``$754'', respectively.
|
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|
80. (1) Subsection 125.5(3) of the Act is
replaced by the following:
|
|