| Amount
payable after
recovery of
payment
|
(4) If a person is liable to pay an amount
under subsection 68.15(3) or 68.21(3), that
amount is deemed to be a tax under this Act
payable by that person on the day the liability
arose.
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|
(2) Subsection (1) applies in respect of
amounts paid to a person after June 2003.
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|
| R.S., c. 7 (2nd
Supp.),
s. 41(1), c. 12
(4th Supp.),
s. 35(1)
|
108. (1) Subsections 84(5) to (9) of the Act
are replaced by the following:
|
|
| Application of
payments
|
(5) Any moneys paid by a person under
subsection (4) shall, in addition to being
applied to that person's liability under this
section, be applied on account of the tax
debtor's liability under this Act.
|
|
| Receipt by
Receiver
General
|
(6) The receipt by the Receiver General of
moneys paid as required under this section is
a good and sufficient discharge of the liability
to the tax debtor to the extent of the amount
received.
|
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| Definition of
``tax debtor''
|
(7) In this section, ``tax debtor'' means a
person by whom any tax, penalty, interest or
other sum is payable under this Act.
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|
(2) Subsection (1) applies in respect of an
amount payable by a person after June
2003.
|
|
| 2001, c. 15,
s. 3(1)
|
109. (1) Section 88 of the Act is replaced
by the following:
|
|
| Waiver or
cancellation
of interest or
penalty
|
88. (1) The Minister may waive or cancel
any amount otherwise payable to the Receiver
General under this Act that is interest or a
penalty.
|
|
| Interest where
amounts
cancelled
|
(2) If a person has paid an amount of interest
or penalty and the Minister cancels that
amount under subsection (1), the Minister
shall pay interest on the amount paid by the
person beginning on the day that is 30 days
after the day on which the Minister received a
request in a manner satisfactory to the
Minister to apply that subsection and ending
on the day on which the amount is refunded or
applied against an amount owed by the person
to Her Majesty in right of Canada.
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|
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|
(2) Subsection (1) applies in respect of
requests received by the Minister of
National Revenue after June 2003.
|
|
| R.S., c. 7 (2nd
Supp.),
s. 51(1)
|
110. (1) The portion of paragraph
116(4)(a) of the Act before subparagraph (i)
is replaced by the following:
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|
(a) the purchaser and not the manufacturer
or wholesaler from whom the goods were
purchased is liable to pay the tax and any
interest under subsection 79.03(1), if
|
|
| R.S., c. 7 (2nd
Supp.),
s. 51(1)
|
(2) Paragraph 116(4)(b) of the Act is
replaced by the following:
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|
|
(b) in any other case, the purchaser and the
manufacturer or wholesaler from whom the
goods were purchased are jointly and
severally liable to pay the tax and any
interest under subsection 79.03(1).
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|
(3) Subsections (1) and (2) apply in
respect of amounts owing by a person after
June 2003.
|
|
| R.S., c. 1 (5th
Supp.)
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|
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|
111. (1) Paragraph 129(2.1)(b) of the
Income Tax Act is replaced by the following:
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|
(b) the day that is 30 days after the day on
which the corporation's return of income
under this Part for the year was filed under
section 150, unless the return was filed on
or before the day on or before which it was
required to be filed,
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|
|
(2) Subsection (1) applies to taxation
years that end after June 2003.
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|
|
112. (1) Paragraph 131(3.1)(b) of the Act
is replaced by the following:
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|
(b) the day that is 30 days after the day on
which the corporation's return of income
under this Part for the year was filed under
section 150, unless the return was filed on
or before the day on or before which it was
required to be filed,
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|
(2) Subsection (1) applies to taxation
years that end after June 2003.
|
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|
|
113. (1) The portion of subsection
132(2.1) of the Act before paragraph (a) is
replaced by the following:
|
|
| Interest on
capital gains
refund
|
(2.1) If a capital gains refund for a taxation
year is paid to, or applied to a liability of, a
mutual fund trust, the Minister shall pay or
apply interest on the refund at the prescribed
rate for the period beginning on the day that is
30 days after the later of
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|
|
|
(2) Subsection (1) applies to taxation
years that end after June 2003.
|
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|
|
114. (1) Paragraph 133(7.01)(b) of the Act
is replaced by the following:
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|
|
(b) the day that is 30 days after the day on
which the corporation's return of income
under this Part for the year was filed under
section 150, unless the return was filed on
or before the day on or before which it was
required to be filed,
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|
|
(2) Subsection (1) applies to taxation
years that end after June 2003.
|
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|
|
115. (1) Subsection 157(2) of the Act is
repealed.
|
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|
(2) Subsection (1) applies to taxation
years that begin after June 2003.
|
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|
|
116. (1) Subsection 161(2.1) of the Act is
repealed.
|
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|
(2) The portion of paragraph 161(7)(b) of
the Act before subparagraph (i) is replaced
by the following:
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|
(b) the amount by which the tax payable
under this Part and Parts I.3, VI and VI.1 by
the taxpayer for the year is reduced as a
consequence of the deduction or exclusion
of amounts described in paragraph (a) is
deemed to have been paid on account of the
taxpayer's tax payable under this Part for
the year on the day that is 30 days after the
latest of
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|
(3) Subsection (1) applies to taxation
years that end after June 2003.
|
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|
(4) Subsection (2) applies in respect of
applications received after June 2003.
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|
|
117. (1) The Act is amended by adding the
following after section 161.1:
|
|
| Period where
interest not
payable
|
161.2 Notwithstanding any other provision
of this Act, if the Minister notifies a taxpayer
that the taxpayer is required to pay a specified
amount under this Act and the taxpayer pays
the specified amount in full before the end of
the period that the Minister specifies with the
notice, interest is not payable on the specified
amount for the period.
|
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|
|
|
|
| Interest and
penalty
amounts of
$25 or less
|
161.3 If, at any time, a person pays an
amount not less than the total of all amounts,
other than interest and penalty, owing at that
time to Her Majesty in right of Canada under
this Act for a taxation year of the person and
the total amount of interest and penalty
payable by the person under this Act for that
year is not more than $25.00, the Minister may
cancel the interest and penalty.
|
|
| Taxpayer
|
161.4 (1) If the Minister determines, at any
time, that the total of all amounts owing by a
person to Her Majesty in right of Canada
under this Act does not exceed two dollars,
those amounts are deemed to be nil.
|
|
| Minister
|
(2) If, at any time, the total of all amounts
payable by the Minister to a person under this
Act does not exceed two dollars, the Minister
shall apply those amounts against any amount
owing, at that time, by the person to Her
Majesty in right of Canada. However, if the
person, at that time, does not owe any amount
to Her Majesty, those amounts payable are
deemed to be nil.
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|
|
(2) Section 161.2 of the Act, as enacted by
subsection (1), comes into force or is
deemed to have come into force on July 1,
2003.
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|
|
(3) Section 161.3 of the Act, as enacted by
subsection (1), applies to taxation years that
end after June 2003.
|
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|
|
(4) Section 161.4 of the Act, as enacted by
subsection (1), applies to amounts owing or
payable, as the case may be, after June
2003.
|
|
|
|
118. (1) Subsection 164(3) of the Act is
replaced by the following:
|
|
| Interest on
refunds and
repayments
|
(3) Where under this section an amount in
respect of a taxation year (other than an
amount or portion of it that can reasonably be
considered to arise from the operation of
section 122.5, 122.61 or 126.1) is refunded or
repaid to a taxpayer or applied to another
liability of the taxpayer, the Minister shall pay
or apply interest on it at the prescribed rate for
the period beginning on the day that is the
latest of the days referred to in the following
paragraphs and ending on the day on which the
amount is refunded, repaid or applied:
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|
|
(a) if the taxpayer is an individual, the day
that is 30 days after the individual's
balance-due day for the year;
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|
|
(b) if the taxpayer is a corporation, the day
that is 120 days after the end of the year;
|
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|
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|
(i) a corporation, the day that is 30 days
after the day on which its return of
income for the year was filed under
section 150, unless the return was filed on
or before the corporation's filing-due
date for the year, and
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|
|
(ii) an individual, the day that is 30 days
after the day on which the individual's
return of income for the year was filed
under section 150;
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|
|
(d) in the case of a refund of an
overpayment, the day on which the
overpayment arose; and
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|
|
(e) in the case of a repayment of an amount
in controversy, the day on which an
overpayment equal to the amount of the
repayment would have arisen if the total of
all amounts payable on account of the
taxpayer's liability under this Part for the
year were the amount by which
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|
|
(i) the lesser of the total of all amounts
paid on account of the taxpayer's liability
under this Part for the year and the total
of all amounts assessed by the Minister as
payable under this Part by the taxpayer
for the year
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|
|
|
|
|
|
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|
|
(2) Subsection 164(3.2) of the Act is
replaced by the following:
|
|
| Interest where
amounts
cancelled
|
(3.2) Notwithstanding subsection (3), if an
overpayment of a taxpayer for a taxation year
is determined because of an assessment made
under subsection 152(4.2) or 220(3.1) or (3.4)
and an amount in respect of the overpayment
is refunded to, or applied to another liability
of, the taxpayer under subsection (1.5) or (2),
the Minister shall pay or apply interest on the
overpayment at the prescribed rate for the
period beginning on the day that is 30 days
after the day on which the Minister received a
request in a manner satisfactory to the
Minister to apply those subsections and
ending on the day on which the amount is
refunded or applied.
|
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|
|
(3) The portion of subsection 164(5) of the
Act after paragraph (h.3) and before
paragraph (i) is replaced by the following:
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|
|
is deemed to have arisen on the day that is 30
days after the latest of
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|
(4) Subsections (1) and (3) apply to
taxation years that end after June 2003.
|
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|
|
(5) Subsection (2) applies in respect of
requests received by the Minister of
National Revenue after June 2003.
|
|
|
|
119. (1) The portion of subsection
183.1(2) of the Act after paragraph (b) is
replaced by the following:
|
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|
|
the corporation shall, on or before its
balance-due day for its taxation year that
includes that time, pay tax of 45% of that
amount or portion of it, as the case may be.
|
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|
|
(2) Subsection (1) applies to taxation
years that begin after June 2003.
|
|
|
|
120. (1) The portion of subsection 186(1)
of the Act before paragraph (a) is 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 its balance-due day for the year, pay
a tax under this Part for the year equal to the
amount, if any, by which the total of
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|
|
(2) Subsection (1) applies to taxation
years that begin after June 2003.
|
|
|
|
121. (1) Section 187.2 of the Act is
replaced by the following:
|
|
| Tax on
dividends on
taxable
preferred
shares
|
187.2 Every corporation shall, on or before
its balance-due day for a taxation year, pay a
tax under this Part for the year equal to 10% of
the total of all amounts each of which is a
dividend, other than an excepted dividend,
received by the corporation in the year on a
taxable preferred share (other than a share of
a class in respect of which an election under
subsection 191.2(1) has been made) to the
extent that an amount in respect of the
dividend was deductible under section 112 or
113 or subsection 138(6) in computing its
taxable income for the year or under
subsection 115(1) in computing its taxable
income earned in Canada for the year.
|
|
|
|
(2) Subsection (1) applies to taxation
years that begin after June 2003.
|
|
|
|
122. (1) Subsection 187.3(1) of the Act is
replaced by the following:
|
|
| Tax on
dividends on
taxable RFI
shares
|
187.3 (1) Every restricted financial
institution shall, on or before its balance-due
day for a taxation year, pay a tax under this
Part for the year equal to 10% of the total of all
amounts each of which is a dividend, other
than an excepted dividend, received by the
institution at any time in the year on a share
acquired by any person before that time and
after 8:00 p.m. Eastern Daylight Saving Time,
June 18, 1987 that was, at the time the
dividend was paid, a taxable RFI share to the
extent that an amount in respect of the
dividend was deductible under section 112 or
113 or subsection 138(6) in computing its
taxable income for the year or under
subsection 115(1) in computing its taxable
income earned in Canada for the year.
|
|
|
|
(2) Subsection (1) applies to taxation
years that begin after June 2003.
|
|
|
|
123. (1) Paragraph 196(3)(b) of the Act is
replaced by the following:
|
|
|
|
(b) the remainder, if any, of the tax payable
by it under this Part for the year, on or before
its balance-due day for the year.
|
|
|
|
(2) Subsection (1) applies to taxation
years that begin after June 2003.
|
|
|
|
124. (1) Paragraph 204.86(1)(c) of the Act
is replaced by the following:
|
|
|
|
(c) on or before its balance-due day for the
year, pay to the Receiver General the
amount of tax and penalties, if any, payable
under this Part by it for the year.
|
|
|
|
(2) Paragraph 204.86(2)(c) of the Act is
replaced by the following:
|
|
|
|
(c) on or before its balance-due day for the
year, pay to the Receiver General the
amount of tax payable under this Part by it
for the year.
|
|
|
|
(3) Subsections (1) and (2) apply to
taxation years that begin after June 2003.
|
|
|
|
125. (1) The portion of subsection 208(2)
of the Act before paragraph (a) is replaced
by the following:
|
|
| Return and
payment of
tax
|
(2) A person liable to pay a tax under this
Part in respect of a year shall, on or before its
balance-due day for a taxation year,
|
|
|
|
(2) Subsection (1) applies to taxation
years that begin after June 2003.
|
|
|
|
126. (1) Paragraph 209(4)(b) of the Act is
replaced by the following:
|
|
|
|
(b) the remainder, if any, of the tax payable
by the person under this Part for the year, on
or before the person's balance-due day for
the year.
|
|
|
|
(2) Subsection (1) applies to taxation
years that begin after June 2003.
|
|