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Aug 13, 2010 · The purpose of saying "subsection" twenty-three (1) is to set in the mind of the listener or reader, that you are going to refer to a subsection, not the section the subsection you are referring to is subordinate to.
- Department of Finance Canada
- Definitions. 125.7(1) Subsection 125.7(1) contains definitions that are relevant for the Canadian Emergency Wage Subsidy (CEWS), the Canada Emergency Rent Subsidy (CERS), and for the Canada Recovery Hiring Program (CRHP).
- Base percentage. 125.7(1) The rate of the CEWS provided in subsection 125.7(2) is comprised of two components: the base percentage and a top-up percentage.
- Current reference period. 125.7(1) The revenues for an entity's current reference period are compared with its revenues for the relevant prior reference period for the purpose of determining its revenue decline, which is relevant to the CEWS, the CERS, and the CRHP.
- Executive compensation repayment amount. 125.7(1) This definition is relevant to subsection 125.7(14) and new subsection 125.7(14.1), which can require certain CEWS recipients to effectively repay CEWS amounts received in respect of active employees for the seventeenth and subsequent qualifying periods.
Difficulty to read the ITA. Sherman (1997, p.51) indicates a list of factors explaining the difficulty to read the ITA. «every subsection is a single sentence» (See also Edwards. CTJ 1984, 32(4), p.727-738) «almost every provision contains cross-references to other provisions».
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Subsection 152 (1) of the Act lists certain refunds and deemed payments on account of tax that are to be determined in the course of assessing a taxpayer's tax. Paragraph 152 (1) (b) refers to the specific provisions under which amounts are deemed to be paid on account of tax.
Subsection 44(1) of the Act allows a taxpayer who incurs a capital gain on the disposition of certain capital property to elect to defer tax on the gain to the extent that the taxpayer reinvests the proceeds in a replacement property within a certain period.
Nov 2, 2021 · An SCE is defined in subsection 233.3(1) and includes, subject to limited specified exceptions, “a taxpayer resident in Canada in the year”. Thus, the vast majority of individuals, trusts, and corporations are SCEs for purposes of the SFP rules.
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Feb 16, 2022 · Amendments. 1 (1) Section 8901.2 of the Income Tax Regulations is amended by adding the following before subsection (1): Definitions. (0.1) The following definitions apply in this section. partial public health restriction.
