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Versions of s. 95(2.5), definition “specified deposit”, para (b)

I-3.3 — Income Tax Act · 1 version

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

  1. 2004-08-31 to 2014-12-16 View Source

    the income from the deposit is income of the affiliate for the year that would, but for paragraph 95(2)(a.3), be income from an active business carried on by the affiliate principally with persons with whom the affiliate deals at arm’s length in the country under whose laws the affiliate was formed or continued and exists and is governed and in which the business is principally carried on by it and the deposit was held by the affiliate in the course of carrying on that part of the business conducted with non-resident persons with whom the affiliate deals at arm’s length or that part of the business conducted with a person with whom the affiliate was related where it can be demonstrated that the related person used or held the funds deposited in the course of a business carried on by the related person with non-resident persons with whom the related person and the affiliate deal at arm’s length.