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Versions of s. 89(1), definition “general rate income pool”

I-3.3 — Income Tax Act · 5 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2026-03-26 to present available View Source
    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A – B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + D + E + F – G where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is the amount, if any, that is the product of the corporation’s general rate factor for the particular taxation year multiplied by its adjusted taxable income for the particular taxation year, E is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or in the case of a Canadian-controlled private corporation, an amount deductible under sectionparagraph 113113(1)(a) in computing the taxable income of the corporation for the particular taxation year in respect of a dividend received on a share of the capital stock of a foreign affiliate less the amount of non-business-income tax (as defined in subsection 126(7)) paid by the corporation to the government of a country other than Canada in respect of the dividend, and if an election was made by the corporation under subsection 93.4(3) for the particular taxation year, the total of the amounts deductible under paragraphs 113(1)(b) and (c) in computing the taxable income of the corporation for the year in respect of a dividend received on a share of the capital stock of a foreign affiliate to the extent that the amount was determined under paragraph 93.4(3)(b) (referred to in this clause as the “high RTF amount”) less the amount determined under clause 113(1)(c)(i)(A) in respect of the high RTF amount, and a deposit insurance corporation, an amount deductible under paragraph 113(1)(a) in computing the taxable income of the corporation for the particular taxation year in respect of a dividend received on a share of the capital stock of a foreign affiliate less the amount of non-business-income tax (as defined in subsection 126(7)) paid by the corporation to the government of a country other than Canada in respect of the dividend, an amount deductible under paragraph 113(1)(a.1) in computing the taxable income of the corporation for the particular taxation year in respect of a dividend received on a share of the capital stock of a foreign affiliate less the amount determined under sub-subclause 113(1)(a.1)(ii)(A)(II)1 in respect of the dividend, and the total of the amounts deductible under paragraphs 113(1)(b) and (c) in computing the taxable income of the corporation for the particular taxation year in respect of a dividend received on a share of the capital stock of a foreign affiliate less the amount determined under clause 113(1)(c)(i)(A) in respect of the dividend, F is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and G is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is the amount determined by the formula H × (I – J) where H is the corporation’s general rate factor for the particular taxation year, I is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, and J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years; (compte de revenu à taux général)
    Full text

    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A – B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + D + E + F – G where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is the amount, if any, that is the product of the corporation’s general rate factor for the particular taxation year multiplied by its adjusted taxable income for the particular taxation year, E is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or in the case of a Canadian-controlled private corporation, an amount deductible under paragraph 113(1)(a) in computing the taxable income of the corporation for the particular taxation year in respect of a dividend received on a share of the capital stock of a foreign affiliate less the amount of non-business-income tax (as defined in subsection 126(7)) paid by the corporation to the government of a country other than Canada in respect of the dividend, and if an election was made by the corporation under subsection 93.4(3) for the particular taxation year, the total of the amounts deductible under paragraphs 113(1)(b) and (c) in computing the taxable income of the corporation for the year in respect of a dividend received on a share of the capital stock of a foreign affiliate to the extent that the amount was determined under paragraph 93.4(3)(b) (referred to in this clause as the “high RTF amount”) less the amount determined under clause 113(1)(c)(i)(A) in respect of the high RTF amount, and a deposit insurance corporation, an amount deductible under paragraph 113(1)(a) in computing the taxable income of the corporation for the particular taxation year in respect of a dividend received on a share of the capital stock of a foreign affiliate less the amount of non-business-income tax (as defined in subsection 126(7)) paid by the corporation to the government of a country other than Canada in respect of the dividend, an amount deductible under paragraph 113(1)(a.1) in computing the taxable income of the corporation for the particular taxation year in respect of a dividend received on a share of the capital stock of a foreign affiliate less the amount determined under sub-subclause 113(1)(a.1)(ii)(A)(II)1 in respect of the dividend, and the total of the amounts deductible under paragraphs 113(1)(b) and (c) in computing the taxable income of the corporation for the particular taxation year in respect of a dividend received on a share of the capital stock of a foreign affiliate less the amount determined under clause 113(1)(c)(i)(A) in respect of the dividend, F is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and G is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is the amount determined by the formula H × (I – J) where H is the corporation’s general rate factor for the particular taxation year, I is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, and J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years; (compte de revenu à taux général)

  2. 2019-01-01 to 2026-03-26 View Source
    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A – B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + D + E + F – G where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is the amount, if any, that is the product of the corporation’s general rate factor for the particular taxation year multiplied by its adjusted taxable income for the particular taxation year, E is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or an amount deductible under section 113 in computing the taxable income of the corporation for the particular taxation year, F is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and G is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is the amount determined by the formula H × (I – J) where H is the corporation’s general rate factor for the particular taxation year, I is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, and J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years; (compte de revenu à taux général)
    Full text

    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A – B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + D + E + F – G where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is the amount, if any, that is the product of the corporation’s general rate factor for the particular taxation year multiplied by its adjusted taxable income for the particular taxation year, E is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or an amount deductible under section 113 in computing the taxable income of the corporation for the particular taxation year, F is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and G is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is the amount determined by the formula H × (I – J) where H is the corporation’s general rate factor for the particular taxation year, I is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, and J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years; (compte de revenu à taux général)

  3. 2016-06-22 to 2019-01-01 View Source
    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A – B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + D + E + F – G where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is the amount, if any, that is the product of the corporation’s general rate factor for the particular taxation year multiplied by its adjusted taxable income for the particular taxation year, E is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or an amount deductible under section 113 in computing the taxable income of the corporation for the particular taxation year, F is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and G is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is the amount determined by the formula H × (I – J) where H is the corporation’s general rate factor for the particular taxation year, I is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, and J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years; (compte de revenu à taux général)
    Full text

    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A – B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + D + E + F – G where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is the amount, if any, that is the product of the corporation’s general rate factor for the particular taxation year multiplied by its adjusted taxable income for the particular taxation year, E is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or an amount deductible under section 113 in computing the taxable income of the corporation for the particular taxation year, F is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and G is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is the amount determined by the formula H × (I – J) where H is the corporation’s general rate factor for the particular taxation year, I is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, and J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years; (compte de revenu à taux général)

  4. 2009-03-12 to 2016-06-22 View Source
    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A -– B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + 0.68(DD -+ E - F) + F – G + H - I where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is unlessthe paragraphamount, (b)if applies,any, that is the product of the corporation’s general rate factor for the particular taxation year multiplied by its adjusted taxable income for the particular taxation year, and if the corporation is a deposit insurance corporation in the particular taxation year, nil, E is the amount determined by multiplying the amount, if any, deducted by the corporation under subsection 125(1) for the particular taxation year by the quotient obtained by dividing 100 by the rate of the deduction provided under that subsection for the particular taxation year, F is if the corporation is a Canadian-controlled private corporation in the particular taxation year, the lesser of the corporation’s aggregate investment income for the particular taxation year and the corporation’s taxable income for the particular taxation year, and in any other case, nil, G is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or an amount deductible under section 113 in computing the taxable income of the corporation for the particular taxation year, HF is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and IG is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is 68%the ofamount determined by the amount,formula ifH any,× by(I which– J) where H is the corporation’s general rate factor for the particular taxation year, I is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, exceedsand J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years;
    Full text

    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A – B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + D + E + F – G where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is the amount, if any, that is the product of the corporation’s general rate factor for the particular taxation year multiplied by its adjusted taxable income for the particular taxation year, E is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or an amount deductible under section 113 in computing the taxable income of the corporation for the particular taxation year, F is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and G is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is the amount determined by the formula H × (I – J) where H is the corporation’s general rate factor for the particular taxation year, I is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, and J is the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years;

  5. 2007-02-21 to 2009-03-12 View Source

    general rate income pool at the end of a particular taxation year, of a taxable Canadian corporation that is a Canadian-controlled private corporation or a deposit insurance corporation in the particular taxation year, is the positive or negative amount determined by the formula A - B where A is the positive or negative amount that would, before taking into consideration the specified future tax consequences for the particular taxation year, be determined by the formula C + 0.68(D - E - F) + G + H - I where C is the corporation’s general rate income pool at the end of its preceding taxation year, D is unless paragraph (b) applies, the corporation’s taxable income for the particular taxation year, and if the corporation is a deposit insurance corporation in the particular taxation year, nil, E is the amount determined by multiplying the amount, if any, deducted by the corporation under subsection 125(1) for the particular taxation year by the quotient obtained by dividing 100 by the rate of the deduction provided under that subsection for the particular taxation year, F is if the corporation is a Canadian-controlled private corporation in the particular taxation year, the lesser of the corporation’s aggregate investment income for the particular taxation year and the corporation’s taxable income for the particular taxation year, and in any other case, nil, G is the total of all amounts each of which is an eligible dividend received by the corporation in the particular taxation year, or an amount deductible under section 113 in computing the taxable income of the corporation for the particular taxation year, H is the total of all amounts determined under subsections (4) to (6) in respect of the corporation for the particular taxation year, and I is unless paragraph (b) applies, the amount, if any, by which the total of all amounts each of which is the amount of an eligible dividend paid by the corporation in its preceding taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the corporation in its preceding taxation year, or if subsection (4) applies to the corporation in the particular taxation year, nil, and B is 68% of the amount, if any, by which the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for the corporation’s preceding three taxation years, determined without taking into consideration the specified future tax consequences, for those preceding taxation years, that arise in respect of the particular taxation year, exceeds the total of the corporation’s full rate taxable incomes (as would be defined in the definition full rate taxable income in subsection 123.4(1), if that definition were read without reference to its subparagraphs (a)(i) to (iii)) for those preceding taxation years;