Bill C-4 / Projet de loi C-4

7/27/2019 Bill C-4 / Projet de loi C-4

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MINISTER OF FINANCE

907032013-10-22

MINISTRE DES FINANCES

SECRETUNTIL INTRODUCED IN PARLIAMENT

C-

SECRETJUSQU' DPT AU PARLEMENT

C-

Second Session, Forty-first Parliament,62 Elizabeth II, 2013 Deuxime session, quarante et unime lgislature,62 Elizabeth II, 2013

HOUSE OF COMMONS OF CANADA CHAMBRE DES COMMUNES DU CANADA

BILL C- PROJET DE LOI C-

A second act to implement certain provisions of the budgettabled in Parliament on March 21, 2013 and othermeasures

Loi no 2 portant excution de certaines dispositions du budgetdpos au Parlement le 21 mars 2013 et mettant en uvredautres mesures

FIRST READING, , 2013 PREMIRE LECTURE LE 2013

Advance Copy To be formatted and reprinted byParliament Exemplaire prtirage Devra tre mis en forme et rimprimpar le Parlement


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SUMMARY SOMMAIRE

Part 1 implements certain income tax measures proposed in the March 21,2013 budget. Most notably, it

(a) increases the lifetime capital gains exemption to $800,000 and indexesthe new limit to inflation;

(b) streamlines the process for pension plan administrators to refund a con-tribution made to a Registered Pension Plan as a result of a reasonable er-ror;

(c) extends the reassessment period for reportable tax avoidance transac-tions and tax shelters when information returns are not filed properly and ontime;

(d) phases out the federal Labour-Sponsored Venture Capital Corporationstax credit;

(e) ensures that derivative transactions cannot be used to convert fully tax-able ordinary income into capital gains taxed at a lower rate;

(f) ensures that the tax consequences of disposing of a property cannot beavoided by entering into transactions that are economically equivalent to adisposition of the property;

(g) ensures that the tax attributes of trusts cannot be inappropriately trans-ferred among arms length persons;

(h) responds to the Sommererdecision to restore the intended tax treatmentwith respect to non-resident trusts;

(i) expands eligibility for the accelerated capital cost allowance for cleanenergy generation equipment to include a broader range of biogas produc-tion equipment and equipment used to treat gases from waste;

(j) imposes a penalty in instances where information on tax preparers andbilling arrangements is missing, incomplete or inaccurate on Scientific Re-search and Experimental Development tax incentive program claim forms;

(k) phases out the accelerated capital cost allowance for capital assets usedin new mines and certain mine expansions, and reduces the deduction ratefor pre-production mine development expenses;

(l) adjusts the five-year phase-out of the additional deduction for creditunions;

(m) eliminates unintended tax benefits in respect of two types of leveragedlife insurance arrangements;

(n) clarifies the restricted farm loss rules and increases the restricted farmloss deduction limit;

(o) enhances corporate anti-loss trading rules to address planning thatavoids those rules;

(p) extends, in certain circumstances, the reassessment period for taxpayerswho have failed to correctly report income from a specified foreign proper-ty on their annual income tax return;

La partie 1 met en uvre des mesures relatives limpt sur le revenu quiont t proposes dans le budget du 21 mars 2013 pour, notamment :

a) augmenter lexonration cumulative des gains en capital 800 000 $pour ensuite indexer cette somme linflation;

b) simplifier le processus de remboursement par les administrateurs de r-gimes de pension dune cotisation verse un rgime de pension agr parsuite dune erreur raisonnable;

c) prolonger la priode dtablissement de nouvelles cotisations lgarddoprations dvitement fiscal dclarer et dabris fiscaux lgard des-quels une dclaration de renseignements nest pas produite selon les moda-lits et dans les dlais prvus;

d) liminer graduellement le crdit dimpt fdral relatif une socit capital de risque de travailleurs;

e) faire en sorte que les oprations sur produits drivs ne puissent servir convertir un revenu ordinaire pleinement imposable en gains en capital, les-quels sont assujettis un taux dimposition moindre;

f) veiller ce que les consquences fiscales dcoulant de la dispositiondun bien ne puissent tre vites au moyen de la conclusion dune opra-tion qui, sur le plan conomique, quivaut une disposition du bien;

g) faire en sorte que les attributs fiscaux de fiducies ne puissent faire lob-jet de transferts injustifis entre personnes sans lien de dpendance;

h) donner suite la dcision rendue dans laffaire Sommerer, afin de rta-blir le traitement fiscal prvu lgard des fiducies non-rsidentes;

i) faire en sorte quun plus large ventail de matriel de production de bio-gaz et de matriel servant traiter les gaz gnrs par les dchets donne

droit la dduction pour amortissement acclr applicable au matriel deproduction dnergie propre;

j) imposer une pnalit dans le cas o les renseignements sur les prpara-teurs de demandes et les modalits de facturation devant figurer dans lesformulaires du Programme dencouragements fiscaux pour la recherchescientifique et le dveloppement exprimental sont manquants, incompletsou inexacts;

k) liminer graduellement la dduction pour amortissement acclr appli-cable aux immobilisations utilises pour lexploitation de nouvelles minesou pour certains agrandissements de mines, et rduire le taux de la dduc-tion applicable aux frais damnagement pralables la production;

l) rajuster llimination graduelle sur cinq ans du crdit supplmentaire ac-cord aux caisses de crdit;

m) liminer les avantages fiscaux non envisags dcoulant de deux typesde stratagmes dassurance-vie avec effet de levier;

n) prciser les rgles sur les pertes agricoles restreintes et hausser la limitede dduction de ces pertes;


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(q) extends the application of Canadas thin capitalization rules to Canadi-an resident trusts and non-resident entities; and

(r) introduces new administrative monetary penalties and criminal offencesto deter the use, possession, sale and development of electronic suppressionof sales software that is designed to falsify records for the purpose of taxevasion.

o) amliorer les rgles sur le commerce de pertes de socits afin de d-jouer les stratagmes de planification visant sy soustraire;

p) prolonger, dans certaines circonstances, la priode dtablissement denouvelles cotisations lgard de contribuables ayant omis dindiquer cor-rectement un revenu provenant dun bien tranger dtermin dans leur d-claration de revenu annuelle;

q) tendre lapplication des rgles canadiennes sur la capitalisation res-

treinte aux fiducies rsidant au Canada et aux entits non-rsidentes;r) tablir de nouvelles pnalits pcuniaires administratives et de nouvellesinfractions criminelles titre de moyens de dissuasion contre lutilisation,la possession, la vente et le dveloppement de logiciels de suppression lec-tronique des ventes conus dans le but de falsifier des registres des finsdvasion fiscale.

Part 1 also implements other selected income tax measures. Most notably, it

(a) implements measures announced on July 25, 2012, including measuresthat

(i) relate to the taxation of specified investment flow-through entities,real estate investment trusts and publicly-traded corporations, and

(ii) respond to theLewin decision;

(b) implements measures announced on December 21, 2012, includingmeasures that relate to

(i) the computation of adjusted taxable income for the purposes of thealternative minimum tax,

(ii) the prohibited investment and advantage rules for registered plans,and

(iii) the corporate reorganization rules; and

(c) clarifies that information may be provided to the Department of Em-ployment and Social Development for a program for temporary foreignworkers.

En outre, elle met en uvre dautres mesures relatives limpt sur le reve-nu pour, notamment :

a) mettre en uvre des mesures annonces le 25 juillet 2012 qui :

(i) portent sur le rgime dimposition des entits intermdiaires de place-ment dtermines, des fiducies de placement immobilier et des socitscotes en bourse,

(ii) font suite la dcision rendue dans laffaireLewin;

b) mettre en uvre des mesures annonces le 21 dcembre 2012, dont des

modifications concernant :(i) le calcul, pour lapplication de limpt minimum de remplacement,du revenu imposable modifi,

(ii) les rgles sur les placements interdits et les avantages applicablesaux rgimes enregistrs,

(iii) les rgles sur la rorganisation de socits;

c) prciser que des renseignements peuvent tre fournis au ministre delEmploi et du Dveloppement social relativement un programme pourtravailleurs trangers temporaires.

Part 2 implements certain goods and services tax and harmonized sales tax(GST/HST) measures proposed in the March 21, 2013 budget by

(a) introducing new administrative monetary penalties and criminal of-fences to deter the use, possession, sale and development of electronic sup-

pression of sales software that is designed to falsify records for the purposeof tax evasion; and

(b) clarifying that the GST/HST provision, exempting supplies by a publicsector body (PSB) of a property or a service if all or substantially all of thesupplies of the property or service by the PSB are made for free, does notapply to supplies of paid parking.

La partie 2 met en uvre certaines mesures relatives la taxe sur les pro-duits et services et la taxe de vente harmonise (TPS/TVH) qui ont t pro-

poses dans le budget du 21 mars 2013 pour, notamment :

a) tablir de nouvelles pnalits pcuniaires administratives et de nouvellesinfractions criminelles titre de moyens de dissuasion contre lutilisation,la possession, la vente et le dveloppement de logiciels de suppression lec-tronique des ventes conus dans le but de falsifier des registres des finsdvasion fiscale;

b) prciser que la disposition qui a pour effet dexonrer de la TPS/TVHles fournitures de biens ou de services effectues par un organisme du sec-teur public, si la totalit ou la presque totalit de ces fournitures sont effec-tues titre gratuit, ne sapplique pas aux fournitures de stationnement

payant.

Part 3 enacts and amends several Acts in order to implement various mea-sures.

La partie 3 met en uvre diverses mesures, notamment par ldiction et lamodification de plusieurs lois.

Division 1 of Part 3 amends the Employment Insurance Act to extend andexpand a temporary measure to refund a portion of employer premiums forsmall businesses. It also amends that Act to modify the Employment Insur-ance premium rate-setting mechanism, including setting the 2015 and 2016rates and requiring that the rate be set on a seven-year break-even basis by the

Canada Employment Insurance Commission beginning with the 2017 rate.The Division repeals the Canada Employment Insurance Financing Board Actand related provisions of other Acts. Lastly, it makes technical amendments totheEmployment Insurance (Fishing) Regulations.

La section 1 de la partie 3 modifie la Loi sur lassurance-emploi afin deprolonger et bonifier temporairement aux petites entreprises le remboursementdune partie des cotisations patronales. Elle modifie galement cette loi afinde changer le mcanisme dtablissement du taux de cotisation lassurance-emploi pour, notamment, fixer ce taux pour les annes 2015 et 2016 et exiger

que ce taux soit fix selon un seuil dquilibre sur une priode de sept ans parla Commission de lassurance-emploi du Canada, compter de 2017. La sec-tion abroge la Loi sur lOffice de financement de lassurance-emploi duCanada et des dispositions connexes dautres lois. Enfin, elle apporte des mo-difications de nature technique auRglement sur lassurance-emploi (pche).


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Division 2 of Part 3 amends the Trust and Loan Companies Act, the BankActand theInsurance Companies Actto remove the prohibition against feder-al and provincial Crown agents and federal and provincial government em-

ployees being directors of a federally regulated financial institution. It alsoamends the Office of the Superintendent of Financial Institutions Act and the

Financial Consumer Agency of Canada Act to remove the obligation of cer-tain persons to give the Minister of Finance notice of their intent to borrowmoney from a federally regulated financial institution or from a corporationthat has deposit insurance under the Canada Deposit Insurance Corporation

Act.

La section 2 de la partie 3 modifie la Loi sur les socits de fiducie et deprt, laLoi sur les banques et laLoi sur les socits dassurances afin de sup-primer linterdiction faite aux mandataires et employs de Sa Majest du chefdu Canada ou dune province de siger comme administrateur au conseildadministration dune institution financire sous rglementation fdrale.Elle modifie galement la Loi sur le Bureau du surintendant des institutions

financires et la Loi sur lAgence de la consommation en matire financiredu Canada afin de supprimer lobligation pour certaines personnes dinformer

pralablement le ministre des Finances de leur intention de contracter un em-prunt auprs dune institution financire sous rglementation fdrale oudune personne morale qui bnficie de lassurance-dpts dans le cadre de la

Loi sur la Socit dassurance-dpts du Canada.

Division 3 of Part 3 amends the Trust and Loan Companies Act, the BankAct, the Insurance Companies Act and the Cooperative Credit AssociationsActto clarify the rules for certain indirect acquisitions of foreign financial in-stitutions.

La section 3 de la partie 3 modifie la Loi sur les socits de fiducie et deprt, la Loi sur les banques, la Loi sur les socits dassurances et laLoi surles associations coopratives de crdit afin de clarifier les rgles pour cer-taines acquisitions indirectes dinstitutions financires trangres.

Division 4 of Part 3 amends the Criminal Code to update the definitionpassport in subsection 57(5) and also amends the Department of Foreign

Affairs, Trade and Development Act to update the reference to the Minister inparagraph 11(1)(a).

La section 4 de la partie 3 modifie le Code criminelpour mettre jour ladfinition de passeport au paragraphe 57(5); elle modifie galement laLoi

sur le ministre des Affaires trangres, du Commerce et du Dveloppementpour mettre jour le renvoi au ministre au paragraphe 11(1).

Division 5 of Part 3 amends the Canada Labour Code to amend the defini-tion of danger in subsection 122(1), to modify the refusal to work process,to remove all references to health and safety officers and to confer on the Min-ister of Labour their powers, duties and functions. It also makes consequential

amendments to the National Energy Board Act, theHazardous Materials In-formation Review Actand theNon-smokers Health Act.

La section 5 de la partie 3 modifie le Code canadien du travailafin de mo-difier la dfinition de danger au paragraphe 122(1), de modifier le proces-sus de refus de travail, de supprimer toute mention des agents de sant et descurit et den confrer les attributions au ministre du Travail. Elle apporte

galement des modifications corrlatives la Loi sur lOffice national delnergie, la Loi sur le contrle des renseignements relatifs aux matiresdangereuses et laLoi sur la sant des non-fumeurs.

Division 6 of Part 3 amends theDepartment of Human Resources and SkillsDevelopment Act to change the name of the Department to the Department ofEmployment and Social Development and to reflect that name change in thetitle of that Act and of its responsible Minister. In addition, the Divisionamends Part 6 of that Act to extend that Ministers powers with respect tocertain Acts, programs and activities and to allow the Minister of Labour toadminister or enforce electronically the Canada Labour Code. The Divisionalso adds the title of a Minister to the Salaries Act. Finally, it makes conse-quential amendments to several other Acts to reflect the name change.

La section 6 de la partie 3 modifie la Loi sur le ministre des Ressourceshumaines et du Dveloppement des comptences afin de remplacer le nom duministre par celui du ministre de lEmploi et du Dveloppement social, lenom du ministre par celui du ministre de lEmploi et du Dveloppement socialainsi que le titre de cette loi en consquence. Elle modifie galement la partie6 de cette loi afin dtendre les attributions du ministre relativement cer-taines lois, certains programmes et certaines activits et afin de permettreau ministre du Travail de mettre en uvre ou dexcuter le Code canadien dutravailpar voie lectronique. Elle ajoute aussi le nom dun ministre dans la

Loi sur les traitements. Enfin, elle apporte des modifications corrlatives dautres lois pour reflter ces changements.

Division 7 of Part 3 authorizes Her Majesty in right of Canada to hold, dis-pose of or otherwise deal with the Dominion Coal Blocks in any manner.

La section 7 de la partie 3 autorise Sa Majest du chef du Canada poss-der la Rserve fdrale de charbon, en disposer ou effectuer toute autreopration son gard.

Division 8 of Part 3 authorizes the amalgamation of four Crown corpora-tions that own or operate international bridges and gives the resulting amalga-mated corporation certain powers. It also makes consequential amendmentsand repeals certain Acts.

La section 8 de la partie 3 autorise la fusion de quatre socits dtat quipossdent ou exploitent des ponts internationaux et confre certains pouvoirs la socit issue de la fusion. Elle comporte galement des modifications corr-latives et prvoit labrogation de certaines lois.

Division 9 of Part 3 amends the Financial Administration Act to providethat agent corporations designated by the Minister of Finance may, subject toany terms and conditions of the designation, pledge any securities or cash thatthey hold, or give deposits, as security for the payment or performance ofobligations arising out of derivatives that they enter into or guarantee for themanagement of financial risks.

La section 9 de la partie 3 modifie la Loi sur la gestion des finances pu-bliques afin de permettre une socit mandataire dsigne par le ministre desFinances, sous rserve des modalits qui sont prcises dans la dsignation, dedonner en gage les valeurs mobilires ou les liquidits quelle possde ou defaire des dpts pour garantir le paiement dune somme ou lexcution dobli-gations dcoulant de contrats drivs conclus ou garantis par la socit et des-tins la gestion des risques financiers.

Division 10 of Part 3 amends the National Research Council Actto reducethe number of members of the National Research Council of Canada and tocreate the position of Chairperson of the Council.

La section 10 de la partie 3 modifie la Loi sur le Conseil national de re-cherches afin de rduire le nombre de membres du Conseil national de re-cherches du Canada et de crer la charge de premier conseiller.

Division 11 of Part 3 amends the Veterans Review and Appeal Board Act toreduce the permanent number of members of the Veterans Review and AppealBoard.

La section 11 de la partie 3 modifie laLoi sur le Tribunal des anciens com-battants (rvision et appel) afin de rduire le nombre de membres titulaires duTribunal des anciens combattants (rvision et appel).

Division 12 of Part 3 amends the Canada Pension Plan Investment BoardActto allow for the appointment of up to three directors who are not residentsof Canada.

La section 12 de la partie 3 modifie la Loi sur lOffice dinvestissement durgime de pensions du Canada afin de permettre la nomination dau plus troisadministrateurs rsidant lextrieur du Canada.


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Division 13 of Part 3 amends the Proceeds of Crime (Money Laundering)and Terrorist Financing Act to extend to the whole Act the protection forcommunications that are subject to solicitor-client privilege and to providethat information disclosed by the Financial Transactions and Reports AnalysisCentre of Canada under subsection 65(1) of that Act may be used by a lawenforcement agency referred to in that subsection only as evidence of a con-travention of Part 1 of that Act.

La section 13 de la partie 3 modifie la Loi sur le recyclage des produits dela criminalit et le financement des activits terroristes afin dtendre toutesles communications vises par la Loi la protection du secret professionnel duconseiller juridique et de prvoir que les renseignements communiqus par leCentre danalyse des oprations et dclarations financires du Canada au titredu paragraphe 65(1) de cette loi ne peuvent tre utiliss par un organisme vis ce paragraphe qu titre de preuve de la contravention la partie 1 de cetteloi.

Division 14 of Part 3 enacts the Mackenzie Gas Project Impacts Fund Act,which establishes the Mackenzie Gas Project Impacts Fund. The Division alsorepeals theMackenzie Gas Project Impacts Act.

La section 14 de la partie 3 dicte la Loi sur le Fonds relatif aux rpercus-sions du projet gazier Mackenzie prvoyant la cration du Fonds relatif auxrpercussions du projet gazier Mackenzie et abroge la Loi relative aux rper-cussions du projet gazier Mackenzie.

Division 15 of Part 3 amends the Conflict of Interest Act to allow the Gov-ernor in Council to designate a person or class of persons as public officeholders and to designate a person who is a public office holder or a class of

persons who are public office holders as reporting public office holders, forthe purposes of that Act.

La section 15 de la partie 3 modifie la Loi sur les conflits dintrts afin depermettre au gouverneur en conseil de dsigner, pour lapplication de cette loi,toute personne comme titulaire de charge publique et tout titulaire de charge

publique comme titulaire de charge publique principal, titre individuel ou autitre de son appartenance une catgorie dtermine.

Division 16 of Part 3 amends the Immigration and Refugee Protection Actto establish a new regime that provides that a foreign national who wishes toapply for permanent residence as a member of a certain economic class maydo so only if they have submitted an expression of interest to the Minister andhave subsequently been issued an invitation to apply.

La section 16 de la partie 3 modifie laLoi sur limmigration et la protectiondes rfugis afin dtablir un nouveau rgime prvoyant que ltranger qui d-sire prsenter une demande de rsidence permanente comme membre dunecertaine catgorie tablie au sein de la catgorie immigration conomique ne peut le faire que sil a soumis une dclaration dintrt au ministre etquune invitation prsenter une demande lui a par la suite t formule.

Division 17 of Part 3 modernizes the collective bargaining and recoursesystems provided by the Public Service Labour Relations Act regime. Itamends the dispute resolution process for collective bargaining by removingthe choice of dispute resolution method and substituting conciliation, whichinvolves the possibility of the use of a strike as the method by which the par-ties may resolve impasses. In those cases where 80% or more of the positionsin a bargaining unit are considered necessary for providing an essential ser-vice, the dispute resolution mechanism is to be arbitration. The collective bar-gaining process is further streamlined through amendments to the provisiondealing with essential services. The employer has the exclusive right to deter-mine that a service is essential and the numbers of positions that will be re-quired to provide that service. Bargaining agents are to be consulted as part ofthe essential services process. The collective bargaining process is alsoamended by extending the timeframe within which a notice to bargain collec-tively may be given before the expiry of a collective agreement or arbitralaward.

In addition, the Division amends the factors that arbitration boards and pub-lic interest commissions must take into account when making awards or re-

ports, respectively. It also amends the processes for the making of thoseawards and reports and removes the compensation analysis and research func-tion from the mandate of the Public Service Labour Relations Board.

The Division streamlines the recourse process set out for grievances andcomplaints in Part 2 of the Public Service Labour Relations Act and forstaffing complaints under thePublic Service Employment Act.

The Division also establishes a single forum for employees to challenge de-cisions relating to discrimination in the public service. Grievances and com-

plaints are to be heard by the Public Service Labour Relations Board under thegrievance process set out in thePublic Service Labour Relations Act. The pro-cess for the review of those grievances or complaints is to be the same as theone that currently exists under the Canadian Human Rights Act. However,grievances and complaints related specifically to staffing complaints are to beheard by the Public Service Staffing Tribunal. Grievances relating to discrimi-nation are required to be submitted within one year or any longer period thatthe Public Service Labour Relations Board considers appropriate, to reflectwhat currently exists under the Canadian Human Rights Act.

Furthermore, the Division amends the grievance recourse process in severalways. With the sole exception of grievances relating to issues of discrimina-tion, employees included in a bargaining unit may only present or refer anindividual grievance to adjudication if they have the approval of and are repre-

La section 17 de la partie 3 modernise les processus de ngociation collec-tive et les recours prvus par la Loi sur les relations de travail dans la fonc-tion publique. Elle modifie le mode de rglement des diffrends relatif auxngociations collectives en substituant le droit de choisir ce mode par la conci-liation, ce qui entrane, lorsquil y a impasse, la possibilit dune grve pourrsoudre le diffrend. Dans les cas o au moins quatre-vingts pour cent des

postes au sein de lunit de ngociation sont considrs comme ncessaires la fourniture de services essentiels, le mode de rglement des diffrends seralarbitrage. Le processus de ngociation collective est galement simplifi pardes modifications aux dispositions portant sur les services essentiels. Lem-

ployeur aura le droit exclusif de dterminer si un service est essentiel et lenombre de postes ncessaires afin de fournir ce service. Dans le cadre de ce

processus, les agents ngociateurs seront consults. Le processus de ngocia-tion collective est galement modifi par la prolongation du dlai dans lequellavis de ngocier collectivement peut tre donn avant lexpiration de laconvention collective ou de la dcision arbitrale.

De plus, la section modifie les facteurs sur lesquels doivent se fonder lesconseils darbitrage et les commissions dintrt public pour respectivementrendre leurs dcisions arbitrales ou tablir leurs rapports. Elle modifie le pro-cessus dcisionnel relatif ces dcisions et rapports. Elle retire galement lesservices danalyse et de recherche en matire de rmunration du mandat de laCommission des relations de travail dans la fonction publique.

La section simplifie le processus de recours prvu pour les griefs et lesplaintes sous le rgime de la partie 2 de laLoi sur les relations de travail dansla fonction publique ainsi que pour les plaintes en matire de dotation au titrede laLoi sur lemploi dans la fonction publique.

La section prvoit un seul recours pour les fonctionnaires qui dsirentcontester des dcisions relatives la discrimination dans la fonction publique.Les griefs et les plaintes seront entendus par la Commission des relations detravail dans la fonction publique selon la procdure de grief prvue par la Loi

sur les relations de travail dans la fonction publique. Le rexamen de telsgriefs ou de telles plaintes suivra la mme procdure que celle qui existe pr-sentement sous le rgime de la Loi canadienne sur les droits de la personne.Cependant, les griefs et les plaintes qui portent spcifiquement sur la dotationseront entendus par le Tribunal de la dotation de la fonction publique. Lesgriefs allguant la discrimination devront tre soumis dans un dlai dun an oudans le dlai suprieur que la Commission des relations de travail dans lafonction publique estime indiqu, dans le but de reflter ce qui existe actuelle-ment dans laLoi canadienne sur les droits de la personne.


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sented by their bargaining agent. Also, the process as it relates to policygrievances is streamlined, including by defining more clearly an adjudicatorsremedial power when dealing with a policy grievance.

In addition, the Division provides for a clearer apportionment of the ex-penses of adjudication relating to the interpretation of a collective agreement.They are to be borne in equal parts by the employer and the bargaining agent.If a grievance relates to a deputy heads direct authority, such as with respectto discipline, termination of employment or demotion, the expenses are to be

borne in equal parts by the deputy head and the bargaining agent. The expens-es of adjudication for employees who are not represented by a bargainingagent are to be borne by the Public Service Labour Relations Board.

Finally, the Division amends the recourse process for staffing complaintsunder the Public Service Employment Act by ensuring that the right to com-

plain is triggered only in situations when more than one employee participatesin an exercise to select employees that are to be laid off. And, candidates whoare found not to meet the qualifications set by a deputy head may only com-

plain with respect to their own assessment.

La section modifie la procdure de grief de plusieurs faons. lexceptiondes griefs portant sur des questions de discrimination, les fonctionnaires duneunit de ngociation ne pourront prsenter ou renvoyer larbitrage un griefindividuel que sils ont obtenu lapprobation de lagent ngociateur et silssont reprsents par cet agent. En outre, la procdure relative aux griefs de

principe est simplifie, notamment en clarifiant les pouvoirs de redressementdes arbitres lgard de ces griefs.

En outre, elle clarifie le partage des frais dans le cadre dun arbitrage por-

tant sur linterprtation dune convention collective. Ces frais seront partagsen parts gales entre lemployeur et lagent ngociateur. Pour les griefs quirelvent de lautorit dun administrateur gnral, tels que ceux portant surune mesure disciplinaire, le licenciement ou la rtrogradation, les frais serontrpartis, parts gales, entre ladministrateur gnral et lagent ngociateur.Les frais darbitrage touchant un fonctionnaire non reprsent par un agentngociateur seront absorbs par la Commission des relations de travail dans lafonction publique.

Enfin, la section modifie le processus de recours en ce qui a trait auxplaintes de dotation sous le rgime de laLoi sur lemploi dans la fonction pu-blique et prcise que le droit de dposer une plainte nexiste que dans les si-tuations o plusieurs fonctionnaires participent un processus pour choisir lesfonctionnaires qui seront mis en disponibilit. De plus, les candidats qui nesatisfont pas aux qualifications essentielles nonces par ladministrateur g-nral ne pourront dposer une plainte quen ce qui a trait leur propre valua-tion.

Division 18 of Part 3 establishes the Public Service Labour Relations andEmployment Board to replace the Public Service Labour Relations Board andthe Public Service Staffing Tribunal. The new Board will deal with mattersthat were previously dealt with by those former Boards under the Public Ser-vice Labour Relations Actand thePublic Service Employment Act, respective-ly, which will permit proceedings under those Acts to be consolidated.

La section 18 de la partie 3 cre la Commission des relations de travail et delemploi dans la fonction publique. Cette nouvelle Commission remplace laCommission des relations de travail dans la fonction publique et le Tribunalde la dotation de la fonction publique. Elle sera charge des affaires dontlancienne Commission et lancien Tribunal taient chargs au titre de la Loi

sur les relations de travail dans la fonction publique et la Loi sur lemploidans la fonction publique, respectivement, ce qui permettra la jonction desinstances rgies par ces lois.

Division 19 of Part 3 adds declaratory provisions to the Supreme Court Act,respecting the criteria for appointing judges to the Supreme Court of Canada.

La section 19 de la partie 3 ajoute laLoi sur la Cour suprme des disposi-tions dclaratoires portant sur les critres de nomination des juges de la Coursuprme du Canada.


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TABLE OF PROVISIONS TABLE ANALYTIQUE

A SECOND ACT TO IMPLEMENT CERTAIN PROVISIONS OFTHE BUDGET TABLED IN PARLIAMENT ON MARCH 21, 2013

AND OTHER MEASURES

LOI No 2 PORTANT EXCUTION DE CERTAINESDISPOSITIONS DU BUDGET DPOS AU PARLEMENT LE 21

MARS 2013 ET METTANT EN UVRE DAUTRES MESURES

SHORT TITLE TITRE ABRG

1. Economic Action Plan 2013 Act, No. 2 1. Loi no 2 sur le plan daction conomique de 2013

PART 1 PARTIE 1

MEASURES RELATING TO INCOME TAX MESURES RELATIVES LIMPT SUR LE REVENU

2120. 2-120.

PART 2 PARTIE 2

EXCISE TAX ACT LOI SUR LA TAXE DACCISE

121124. 121-124.

PART 3 PARTIE 3

VARIOUS MEASURES DIVERSES MESURES

DIVISION 1 SECTION 1

EMPLOYMENT INSURANCE ASSURANCE-EMPLOI

125158. 125-158.


FINANCIAL INSTITUTIONS (CONFLICTSOF INTEREST) INSTITUTIONSFINANCIRES (CONFLITSDINTRTS)

159166. 159-166.


FINANCIAL INSTITUTIONS (INVESTMENTS) INSTITUTIONSFINANCIRES (INVESTISSEMENTS)

167173. 167-173.


PASSPORTS PASSEPORTS

174175. 174-175.


CANADA LABOURCODE CODECANADIENDUTRAVAIL176203. 176-203.


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ii


CHANGESTOTHE CANADIAN MINISTRY MODIFICATIONSAU CONSEILDESMINISTRESDU CANADA

204238. 204-238.


DOMINION COAL BLOCKS RSERVEFDRALEDECHARBON

239248. 239-248.


REORGANIZATIONOF CERTAIN CROWN CORPORATIONS (BRIDGES) RORGANISATIONDECERTAINESSOCITSDTAT PONTS

249269. 249-269.


FINANCIAL ADMINISTRATION ACT LOISURLAGESTIONDESFINANCESPUBLIQUES

270. 270.

DIVISION 10 SECTION 10NATIONAL RESEARCH COUNCIL ACT LOISURLE CONSEILNATIONALDERECHERCHES

271275. 271-275.


VETERANS REVIEWAND APPEAL BOARD ACT LOISURLE TRIBUNALDESANCIENSCOMBATTANTS (RVISIONETAPPEL)

276. 276.


CANADA PENSION PLAN INVESTMENT BOARD ACT LOISURLOFFICEDINVESTISSEMENTDURGIMEDEPENSIONSDUCANADA

277278. 277-278.


PROCEEDSOF CRIME (MONEY LAUNDERING) AND TERRORISTFINANCING ACT

LOISURLERECYCLAGEDESPRODUITSDELACRIMINALITETLEFINANCEMENTDESACTIVITSTERRORISTES

279281. 279-281.


MACKENZIE GAS PROJECT IMPACTS FUND ACT LOISURLE FONDSRELATIFAUXRPERCUSSIONSDUPROJETGAZIERMACKENZIE

282. Enactment of Act 282. diction de la loi

AN ACT TO ESTABLISH THE MACKENZIE GAS PROJECTIMPACTS FUND

LOI CONSTITUANT LE FONDS RELATIF AUXRPERCUSSIONS DU PROJET GAZIER MACKENZIE


1. Mackenzie Gas Project Impacts Fund Act 1. Loi sur le Fonds relatif aux rpercussions du projet gazierMackenzie


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iii

INTERPRETATION DFINITIONS

2. Definitions 2. Dfinitions

DESIGNATION OF MINISTER DSIGNATION DU MINISTRE

3. Power of Governor in Council 3. Pouvoir du gouverneur en conseil

PURPOSE OF ACT OBJET DE LA PRSENTE LOI

4. Purpose 4. Objet

MACKENZIE GAS PROJECT IMPACTS FUND FONDS RELATIF AUX RPERCUSSIONS DU PROJET GAZIERMACKENZIE

5. Account established 5. Ouverture du compte

6. Charges 6. Dbits

7. Interest to be credited to Fund 7. Intrt porter au crdit du Fonds

8. Eligible project 8. Travaux admissibles

9. Agreement with regional organizations 9. Accord avec lorganisation rgionale

AMENDMENT OF SCHEDULE MODIFICATION DE LANNEXE

10. Order in council 10. Dcret

PAYMENT OUT OF THE CONSOLIDATED REVENUE FUND PRLVEMENT SUR LE TRSOR

11. Payment of $500,000,000 11. Paiement de 500 000 000 $

283287. 283-287.


CONFLICTOF INTEREST ACT LOISURLESCONFLITSDINTRTS

288289. 288-289.


IMMIGRATIONAND REFUGEE PROTECTION ACT LOISURLIMMIGRATIONETLAPROTECTIONDESRFUGIS

290293. 290-293.


PUBLIC SERVICE LABOURRELATIONS RELATIONSDETRAVAILDANSLAFONCTIONPUBLIQUE

294364. 294-364.


REORGANIZATIONOF FEDERAL PUBLIC SERVICE LABOURRELATIONSAND EMPLOYMENT BOARDS

RORGANISATIONDETRIBUNAUXFDRAUXENMATIREDERELATIONSDETRAVAILETDEMPLOIDANSLAFONCTIONPUBLIQUE

365. Enactment of Act 365. diction de la loi


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iv

AN ACT TO ESTABLISH THE PUBLIC SERVICE LABOURRELATIONS AND EMPLOYMENT BOARD

LOI PORTANT CRATION DE LA COMMISSION DESRELATIONS DE TRAVAIL ET DE LEMPLOI DANS LA

FONCTION PUBLIQUE


1. Public Service Labour Relations and Employment Board Act 1. Loi sur la Commission des relations de travail et de lemploidans la fonction publique

INTERPRETATION DFINITIONS

2. Definitions 2. Dfinitions

DESIGNATION OF MINISTER DSIGNATION DU MINISTRE

3. Power of Governor in Council 3. Pouvoir du gouverneur en conseil

PUBLIC SERVICE LABOUR RELATIONS AND EMPLOYMENTBOARD

COMMISSION DES RELATIONS DE TRAVAIL ET DELEMPLOI DANS LA FONCTION PUBLIQUE

ESTABLISHMENTAND COMPOSITION CRATIONETCOMPOSITION

4. Establishment of Board 4. Cration de la Commission

APPOINTMENTOF MEMBERS NOMINATIONDESCOMMISSAIRES

5. Qualifications 5. Qualits requises

6. Appointments of other members from list 6. tablissement dune liste de candidats commissaires par leprsident

7. Residence of full-time members 7. Rsidence des commissaires temps plein

8. Appointment of members 8. Nomination des commissaires

9. Oath or solemn affirmation 9. Serment ou affirmation solennelle

REMUNERATION RMUNRATION

10. Remuneration 10. Rmunration

APPLICATIONOF OTHERACTS APPLICATIONDAUTRESLOIS

11. Application of Public Service Superannuation Act 11. Application de laLoi sur la pension de la fonction publique

12. Application of certain Acts 12. Application de certaines lois

HEAD OFFICEAND MEETINGS SIGEETRUNIONS

13. Head office 13. Sige

14. Services and facilities 14. Usage des installations et des services fdraux

15. Meetings 15. Runions

16. Quorum 16. Quorum

17. Attendance of part-time members at meetings 17. Prsence des commissaires temps partiel sur invitation

18. Decision of majority 18. Dcision de la majorit

BOARDS POWERS, DUTIESAND FUNCTIONS ATTRIBUTIONSDELA COMMISSION

19. Powers, duties and functions 19. Attributions

20. Powers of Board 20. Pouvoirs de la Commission


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v

21. Frivolous matters 21. Demande futile, etc.

22. Determination without oral hearing 22. Dcision sans audience

23. General power to assist parties 23. Pouvoir gnral daider les parties

24. Delegation by Board 24. Dlgation

CHAIRPERSON PRSIDENT

25. Chief executive officer 25. Premier dirigeant

26. Delegation by Chairperson 26. Dlgation

27. Acting Chairperson 27. Absence ou empchement du prsident

HUMAN RESOURCES RESSOURCESHUMAINES

28. Responsibility for human resources management 28. Attributions en matire de gestion des ressources humaines

29. Human resources 29. Ressources humaines

30. Experts and advisors 30. Assistance technique

PROTECTION IMMUNIT

31. Evidence respecting information obtained 31. Preuve concernant les renseignements obtenus32. No disclosure of notes and drafts 32. Non-communication

33. Immunity from proceedings 33. Immunit civile et pnale

REVIEWAND ENFORCEMENTOF ORDERSAND DECISIONS RVISIONETEXCUTION

34. No review by court 34. Impossibilit de rvision par un tribunal

35. Filing of Boards orders in Federal Court 35. Dpt la Cour fdrale

REGULATIONS RGLEMENTS

36. Regulations 36. Rglements

PANELS FORMATIONS37. Panels 37. Commissaire unique

38. Members death or incapacity 38. Dcs ou empchement dun commissaire

39. Powers, rights and privileges 39. Attributions

40. Panels decision 40. Dcision la majorit

WITNESS FEES INDEMNITSDESTMOINS

41. Payment of witness fees 41. Paiement des indemnits des tmoins

ANNUAL REPORT RAPPORTANNUEL

42. Obligation to prepare report 42. tablissement du rapport

366470. 366-470.


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vi


SUPREME COURT ACT LOISURLA COURSUPRME

471472. 471-472.

SCHEDULE ANNEXE


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2nd Session, 41st Parliament,62 Elizabeth II, 2013

2e session, 41e lgislature,62 Elizabeth II, 2013

HOUSE OF COMMONS OF CANADA CHAMBRE DES COMMUNES DU CANADA

BILL C- PROJET DE LOI C-

A second act to implement certain provisions ofthe budget tabled in Parliament on March21, 2013 and other measures

Loi no 2 portant excution de certainesdispositions du budget dpos auParlement le 21 mars 2013 et mettant enuvre dautres mesures

Her Majesty, by and with the advice andconsent of the Senate and House of Commonsof Canada, enacts as follows:

Sa Majest, sur lavis et avec le consente-ment du Snat et de la Chambre des communesdu Canada, dicte :


Short title 1. This Act may be cited as the EconomicAction Plan 2013 Act, No. 2.

1.Loi no 2 sur le plan daction conomiquede 2013.

Titre abrg

PART 1 PARTIE 1

MEASURES RELATING TO INCOMETAX

MESURES RELATIVES LIMPT SURLE REVENU

R.S., c. 1 (5thSupp.)

INCOME TAX ACT LOIDELIMPTSURLEREVENU L.R., ch. 1 (5esuppl.)

2. (1) Subsections 10(10) and (11) of the

Income Tax Actare replaced by the follow-ing:

2. (1) Les paragraphes 10(10) et (11) de la

Loi de limpt sur le revenu sont remplacspar ce qui suit :

Loss restrictionevent

(10) Notwithstanding subsection (1.01),property described in an inventory of a taxpay-ers business that is an adventure or concern inthe nature of trade at the end of the taxpayerstaxation year that ends immediately before thetime at which the taxpayer is subject to a lossrestriction event is to be valued at the cost atwhich the taxpayer acquired the property, or itsfair market value at the end of the year,whichever is lower, and after that time the costat which the taxpayer acquired the property is,

subject to a subsequent application of this sub-section, deemed to be that lower amount.

(10) Malgr le paragraphe (1.01), les biensfigurant linventaire de lentreprise duncontribuable qui est un projet comportant unrisque ou une affaire de caractre commercial la fin de lanne dimposition du contribuablequi se termine immdiatement avant le momento celui-ci est assujetti un fait li la restric-tion de pertes sont valus au cot auquel lecontribuable a acquis les biens ou, si elle est in-frieure, leur juste valeur marchande la finde lanne; aprs ce moment, le cot auquel le

contribuable a acquis les biens est rput tregal la moins leve de ces sommes, sous r-

Fait li larestriction depertes


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2 Economic Action Plan 2013, No. 2 62 ELIZ. II

serve dune application ultrieure du prsentparagraphe.


(11) For the purposes of subsections 88(1.1)and 111(5), a taxpayers business that is at anytime an adventure or concern in the nature oftrade is deemed to be a business carried on at

that time by the taxpayer.

(11) Pour lapplication des paragraphes88(1.1) et 111(5), lentreprise dun contribuablequi est un projet comportant un risque ou uneaffaire de caractre commercial un moment

donn est rpute tre une entreprise que lecontribuable exploite ce moment.


(2) Subsection (1) is deemed to have comeinto force on March 21, 2013.

(2) Le paragraphe (1) est rput tre en-tr en vigueur le 21 mars 2013.

3. (1) Subsection 11(1) of the Act is re-placed by the following:

3. (1) Le paragraphe 11(1) de la mme loiest remplac par ce qui suit :

Proprietor ofbusiness

11. (1) Subject to section 34.1, if an indi-vidual is a proprietor of a business, the individ-uals income from the business for a taxationyear is deemed to be the individuals incomefrom the business for the fiscal periods of the

business that end in the year.

11. (1) Sous rserve de larticle 34.1, le re-venu quun particulier propritaire dune entre-

prise tire de son entreprise pour une annedimposition est rput tre le revenu quil entire au cours des exercices de lentreprise qui se

terminent dans lanne.

Propritairedune entreprise

(2) Subsection (1) applies to taxationyears that end after March 22, 2011.

(2) Le paragraphe (1) sapplique aux an-nes dimposition se terminant aprs le 22mars 2011.

4. (1) Subsection 12(1) of the Act isamended by striking out and at the end ofparagraph (z.5), by adding and at the endof paragraph (z.6) and by adding the follow-ing after paragraph (z.6):

4. (1) Le paragraphe 12(1) de la mme loiest modifi par adjonction, aprs lalina

z.6), de ce qui suit :

Derivativeforwardagreement

(z.7) the total of all amounts each of whichis

(i) if the taxpayer acquires a property un-der a derivative forward agreement in theyear, the amount by which the fair marketvalue of the property at the time it is ac-quired by the taxpayer exceeds the cost tothe taxpayer of the property, or

(ii) if the taxpayer disposes of a propertyunder a derivative forward agreement inthe year, the amount by which the pro-ceeds of disposition (within the meaningassigned by subdivision c) of the propertyexceeds the fair market value of the prop-erty at the time the agreement is entered

into by the taxpayer.

z.7) le total des sommes dont chacune repr-sente :

(i) si le contribuable acquiert un bien auxtermes dun contrat driv terme aucours de lanne, lexcdent de la juste va-leur marchande du bien au moment de sonacquisition par le contribuable sur soncot pour celui-ci,

(ii) si le contribuable dispose dun bienaux termes dun contrat driv terme aucours de lanne, lexcdent du produit dedisposition, au sens de la sous-section c,du bien sur sa juste valeur marchande aumoment de la conclusion du contrat par lecontribuable.

Contrat driv terme

(2) Section 12 of the Act is amended byadding the following after subsection (2.01):

(2) Larticle 12 de la mme loi est modifipar adjonction, aprs le paragraphe (2.01),de ce qui suit :


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2013 Plan daction conomique n 2 (2013) 3

Source ofincome

(2.02) For the purposes of this Act, if anamount is included in computing the income ofa taxpayer for a taxation year because of para-graph (1)(l.1) and the amount is in respect ofinterest that is deductible by a partnership incomputing its income from a particular source

or from sources in a particular place, theamount is deemed to be from the particularsource or from sources in the particular place,as the case may be.

(2.02) Pour lapplication de la prsente loi,toute somme incluse dans le calcul du revenudun contribuable pour une anne dimposition

par leffet de lalina (1)l.1) au titre dintrtsqui sont dductibles par une socit de per-sonnes dans le calcul de son revenu tir dune

source donne ou de sources situes dans unendroit donn est rpute tre tire de la sourcedonne ou de sources situes dans lendroitdonn, selon le cas.

Source durevenu

(3) Subsection (1) applies to acquisitionsand dispositions of property by a taxpayerthat occur

(a) under a derivative forward agreemententered into after March 20, 2013 unless

(i) the agreement is part of a series ofagreements and the series

(A) includes a derivative forwardagreement entered into after March20, 2013 and before July 11, 2013,and

(B) has a term of 180 days or less(determined without reference toagreements entered into beforeMarch 21, 2013), or

(ii) the agreement is entered into afterthe final settlement of another deriva-tive forward agreement (in this para-graph referred to as the prior agree-

ment) and(A) having regard to the source ofthe funds used to purchase the prop-erty to be sold under the agreement,it is reasonable to conclude that theagreement is a continuation of theprior agreement,

(B) the terms of the agreement andthe prior agreement are substantiallysimilar,

(C) the final settlement date underthe agreement is before 2015,

(D) subsection (1) would not apply toany acquisitions or dispositions underthe prior agreement if this subsection

(3) Le paragraphe (1) sapplique aux ac-quisitions et aux dispositions de biens effec-tues par un contribuable :

a) en vertu dun contrat driv termeconclu aprs le 20 mars 2013 lgard du-quel aucun des noncs ci-aprs nesavre :

(i) le contrat fait partie dune srie de

contrats, laquelle srie :

(A) dune part, comprend un contratdriv terme conclu aprs le 20mars 2013 et avant le 11 juillet 2013,

(B) dautre part, est dune dure de180 jours ou moins (dterminecompte non tenu des contrats conclusavant le 21 mars 2013),

(ii) le contrat est conclu aprs le rgle-ment dfinitif dun autre contrat driv terme (appel contrat antrieur au

prsent sous-alina) et, la fois :(A) en ce qui concerne la source desfonds ayant servi acheter le bien vendre aux termes du contrat, il estraisonnable de conclure que lecontrat est la continuation du contratantrieur,

(B) les modalits du contrat et ducontrat antrieur sont sensiblementsimilaires,

(C) la date de rglement dfinitif pr-vue par le contrat est antrieure

2015,

(D) le paragraphe (1) ne sapplique-rait pas aux acquisitions ou disposi-tions effectues aux termes du contrat


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were read without reference to sub-paragraph (i), and

(E) the notional amount of the agree-ment is at all times less than or equalto the amount determined by the for-mula

(A + B + C + D + E) (F + G)

where

A is the notional amount of theagreement when it is entered into,

B is the total of all amounts each ofwhich is an increase in the notion-al amount of the agreement, at orbefore that time, that is at-tributable to the underlying inter-est,

C is the amount of the taxpayerscash on hand immediately beforeMarch 21, 2013 that was commit-ted, before March 21, 2013, to beinvested under the agreement,

D is the total of all amounts each ofwhich is an increase, at or beforethat time, in the notional amountof the agreement that is at-tributable to the final settlementof another derivative forwardagreement (in this description re-ferred to as the terminated

agreement) if subsection (1)would not apply to any acquisi-tions or dispositions under the ter-minated agreement if this subsec-tion were read without referenceto subparagraph (i),

E is the lesser of

(I) either

1. if the prior agreement wasentered into before March21, 2013, the amount, if any,

by which the amount deter-mined under clause (A) of thedescription of F in subpara-graph (b)(ii) for the prioragreement immediately be-

antrieur si le prsent paragraphesappliquait compte non tenu dusous-alina (i),

(E) le montant notionnel du contratest, tout moment, gal ou infrieur la somme obtenue par la formule sui-

vante :(A + B + C + D + E) (F + G)

o :

A reprsente le montant notionneldu contrat au moment de saconclusion,

B le total des sommes reprsentantchacune une augmentation dumontant notionnel du contrat, seproduisant au plus tard au mo-ment en cause, qui est attribuable

llment sous-jacent,C le montant de lencaisse du contri-

buable, immdiatement avant le21 mars 2013, qui a fait lobjetdun engagement dinvestisse-ment, avant cette date, dans lecadre du contrat,

D le total des sommes reprsentantchacune une augmentation, seproduisant au plus tard au mo-ment en cause, du montant no-tionnel du contrat qui est attri-

buable au rglement dfinitif dunautre contrat driv terme dansle cas o le paragraphe (1) nesappliquerait pas aux acquisi-tions ou dispositions effectuesaux termes de cet autre contrat sile prsent paragraphe sappli-quait compte non tenu de sonsous-alina (i),

E la moins leve des sommes sui-vantes :

(I) selon le cas :

1. si le contrat antrieur at conclu avant le 21 mars2013, lexcdent ventuel dela somme dtermine selon la


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fore it was finally settled ex-ceeds the total determinedunder clause (B) of the de-scription of F in subpara-graph (b)(ii) for the prioragreement immediately be-

fore it was finally settled, or2. in any other case, theamount, if any, by which theamount determined underthis subclause for the prioragreement immediately be-fore it was finally settled ex-ceeds the total determinedunder subclause (II) for theprior agreement immediatelybefore it was finally settled,and

(II) the total of all amountseach of which is an increase inthe notional amount of theagreement before July 11, 2013that is not otherwise describedin this formula,

F is the total of all amounts each ofwhich is a decrease in the notionalamount of the agreement, at orbefore that time, that is at-tributable to the underlying inter-est, and

G is the total of all amounts each ofwhich is the amount of a partialsettlement of the agreement, at orbefore that time, to the extent thatit is not reinvested in the agree-ment;

(b) after March 20, 2013 and beforeMarch 22, 2018 under a derivative for-ward agreement entered into beforeMarch 21, 2013, if

(i) after March 20, 2013, the term of theagreement is extended beyond 2014, or

(ii) at any time after March 20, 2013,the notional amount of the agreement

division (A) de llment F dela formule figurant au sous-alina b)(ii) relativement cecontrat immdiatement avantson rglement dfinitif sur letotal dtermin selon la divi-

sion (B) de cet lment relati-vement ce mme contratimmdiatement avant son r-glement dfinitif,

2. dans les autres cas, lexc-dent ventuel de la sommedtermine selon la prsentesubdivision relativement aucontrat antrieur immdiate-ment avant son rglement d-finitif sur le total dterminselon la subdivision (II) rela-tivement ce contrat imm-diatement avant son rgle-ment dfinitif,

(II) le total des sommes repr-sentant chacune une augmenta-tion du montant notionnel ducontrat, se produisant avant le11 juillet 2013, qui nest pas vi-se par ailleurs la prsenteformule,

F le total des sommes reprsentantchacune une diminution du mon-tant notionnel du contrat, se pro-duisant au plus tard au momentdonn, qui est attribuable ll-ment sous-jacent,

G le total des sommes reprsentantchacune le montant dun rgle-ment partiel du contrat, se pro-duisant au plus tard au momentdonn, dans la mesure o il nestpas rinvesti dans le contrat;

b) aprs le 20 mars 2013 et avant le 22mars 2018, en vertu dun contrat driv

terme qui a t conclu avant le 21 mars2013 et lgard duquel lun des noncsci-aprs savre :

(i) aprs le 20 mars 2013, la dure ducontrat est prolonge au-del de 2014,


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exceeds the amount determined by theformula

(A + B + C + D + E + F) (G + H)

where

A is the notional amount of the agree-

ment immediately before March 21,2013,

B is the total of all amounts each ofwhich is an increase in the notionalamount of the agreement, afterMarch 20, 2013 and at or beforethat time, that is attributable to theunderlying interest,

C is the amount of the taxpayers cashon hand immediately before March21, 2013 that was committed, beforeMarch 21, 2013, to be invested un-

der the agreement,D is the amount, if any, of an increase,

after March 20, 2013 and at or be-fore that time, in the notionalamount of the agreement as a conse-quence of the exercise of an over-al-lotment option granted beforeMarch 21, 2013,

E is the total of all amounts each ofwhich is an increase, after March20, 2013 and at or before that time,in the notional amount of the agree-

ment that is attributable to the finalsettlement of another derivative for-ward agreement (in this descriptionreferred to as the terminatedagreement) if

(A) the final settlement date un-der the agreement is

(I) before 2015, or

(II) on or before the date onwhich the terminated agree-ment, as it read immediately

before March 21, 2013, was tobe finally settled, and

(B) subsection (1) would not ap-ply to any acquisitions or disposi-tions under the terminated agree-

(ii) un moment donn aprs le 20mars 2013, le montant notionnel ducontrat excde la somme obtenue par laformule suivante :

(A + B + C + D + E + F) (G + H)

o :A reprsente le montant notionnel du

contrat immdiatement avant le 21mars 2013,

B le total des sommes reprsentantchacune une augmentation du mon-tant notionnel du contrat, se produi-sant aprs le 20 mars 2013 et au plustard au moment donn, qui est attri-buable llment sous-jacent,

C le montant de lencaisse du contri-buable, immdiatement avant le 21

mars 2013, qui a fait lobjet dun en-gagement dinvestissement, avantcette date, dans le cadre du contrat,

D le montant dune augmentation, seproduisant aprs le 20 mars 2013 etau plus tard au moment donn, dumontant notionnel du contrat parsuite de lexercice dune option desurattribution octroye avant le 21mars 2013,

E le total des sommes reprsentantchacune une augmentation, se pro-

duisant aprs le 20 mars 2013 et auplus tard au moment donn, dumontant notionnel du contrat qui estattribuable au rglement dfinitifdun autre contrat driv terme(appel contrat rsili au prsentlment) si, la fois :

(A) la date de rglement dfinitifprvue par le contrat, selon lecas :

(I) est antrieure 2015,

(II) correspond ou est ant-rieure la date de rglementdfinitif prvue du contrat rsi-li, en son tat immdiatementavant le 21 mars 2013,


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ment if this subsection were readwithout reference to subpara-graph (a)(i),

F is the lesser of

(A) 5% of the notional amount of

the agreement immediately beforeMarch 21, 2013, and

(B) the total of all amounts eachof which is an increase in the no-tional amount of the agreementafter March 20, 2013 and beforeJuly 11, 2013 that is not otherwisedescribed in this formula,

G is the total of all amounts each ofwhich is a decrease in the notionalamount of the agreement, afterMarch 20, 2013 and at or before

that time, that is attributable to theunderlying interest, and

H is the total of all amounts each ofwhich is the amount of a partial set-tlement of the agreement, afterMarch 20, 2013 and at or beforethat time, to the extent that it is notreinvested in the agreement; or

(c) after March 21, 2018.

(B) le paragraphe (1) ne sappli-querait pas aux acquisitions oudispositions effectues aux termesdu contrat rsili si le prsent pa-ragraphe sappliquait compte nontenu de son sous-alina a)(i),

F la moins leve des sommes sui-vantes :

(A) 5 % du montant notionnel ducontrat immdiatement avant le21 mars 2013,

(B) le total des sommes reprsen-tant chacune une augmentationdu montant notionnel du contrat,se produisant aprs le 20 mars2013 et avant le 11 juillet 2013,qui nest pas vise par ailleurs laprsente formule,

G le total des sommes reprsentantchacune une diminution du montantnotionnel du contrat, se produisantaprs le 20 mars 2013 et au plus tardau moment donn, qui est attri-buable llment sous-jacent,

H le total des sommes reprsentantchacune le montant dun rglementpartiel du contrat, se produisantaprs le 20 mars 2013 et au plus tardau moment donn, dans la mesureo il nest pas rinvesti dans lecontrat;

c) aprs le 21 mars 2018.

(4) For the purposes of subsection (3), thenotional amount of a derivative forwardagreement at any time is

(a) in the case of a purchase agreement,the fair market value at that time of theproperty that would be acquired underthe agreement if the agreement were final-ly settled at that time; or

(b) in the case of a sale agreement, the

sale price of the property that would besold under the agreement if the agreementwere finally settled at that time.

(4) Pour lapplication du paragraphe (3),le montant notionnel dun contrat driv terme un moment donn correspond celledes sommes ci-aprs qui est applicable :

a) sagissant dun contrat dachat, la justevaleur marchande, ce moment, du bienqui serait acquis aux termes du contrat sicelui-ci faisait lobjet dun rglement dfi-nitif ce moment;

b) sagissant dun contrat de vente, le prixde vente du bien qui serait vendu auxtermes du contrat si celui-ci faisait lobjetdun rglement dfinitif ce moment.


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(5) Subsection (2) applies to taxationyears that begin after 2013.

(5) Le paragraphe (2) sapplique aux an-nes dimposition commenant aprs 2013.

5. (1) The Act is amended by adding thefollowing after section 12.5:

5. (1) La mme loi est modifie par ad-jonction, aprs larticle 12.5, de ce qui suit :

Definitions 12.6 (1) The definitions in section 18.3 ap-

ply in this section.

12.6 (1) Les dfinitions figurant larticle

18.3 sappliquent au prsent article.

Dfinitions

Wheresubsection (3)applies

(2) Subsection (3) applies for a taxation yearof an entity in respect of a security of the entityif

(a) the security becomes, at a particular timein the year, a stapled security of the entityand, as a consequence, amounts described in

paragraphs 18.3(3)(a) and (b) are not de-ductible because of subsection 18.3(3);

(b) the security (or any security for whichthe security was substituted) ceased, at anearlier time, to be a stapled security of any

entity and, as a consequence, subsection18.3(3) ceased to apply to deny the de-ductibility of amounts that would be de-scribed in paragraphs 18.3(3)(a) and (b) ifthe security were a stapled security; and

(c) throughout the period that began imme-diately after the most recent time referred toin paragraph (b) and that ends at the particu-lar time, the security (or any security forwhich the security was substituted) was not astapled security of any entity.

(2) Le paragraphe (3) sapplique pour lan-ne dimposition dune entit relativement untitre de celle-ci si les conditions ci-aprs sontrunies :

a) le titre devient un titre agraf de lentit un moment donn de lanne et, par cons-quent, les sommes vises aux alinas18.3(3)a) et b) ne sont pas dductibles parleffet du paragraphe 18.3(3);

b) le titre, ou un titre qui lui a t substitu,a cess, un moment antrieur, dtre un

titre agraf dune entit quelconque et, parconsquent, le paragraphe 18.3(3) na plus

pour effet dinterdire la dduction desommes qui seraient vises aux alinas18.3(3)a) et b) si le titre tait un titre agraf;

c) tout au long de la priode ayant commen-c immdiatement aprs le moment le plusrcent vis lalina b) et se terminant aumoment donn, le titre, ou un titre qui lui at substitu, ntait pas un titre agraf duneentit quelconque.

Application duparagraphe (3)

Income

inclusion

(3) If this subsection applies for a taxation

year of an entity in respect of a security of theentity, the entity shall include in computing itsincome for the year each amount that

(a) was deducted by the entity (or by anoth-er entity that issued a security for which thesecurity was substituted) in computing its in-come for a taxation year that includes any

part of the period described in paragraph2(c); and

(b) would not have been deductible if sub-section 18.3(3) had applied in respect of theamount.

(3) En cas dapplication du prsent para-

graphe pour lanne dimposition dune entitrelativement un titre de celle-ci, lentit est te-nue dinclure dans le calcul de son revenu pourlanne chaque somme qui, la fois :

a) a t dduite par elle (ou par une autre en-tit ayant mis un titre qui a t substitu autitre en cause) dans le calcul de son revenu

pour une anne dimposition qui comprendune partie quelconque de la priode mention-ne lalina (2)c);

b) naurait pas t dductible si le para-graphe 18.3(3) sy tait appliqu.

Somme inclure

dans le revenu

Deemed excess (4) For the purposes of subsection 161(1), ifan amount described in paragraph (3)(a) is in-cluded in the income of an entity for a taxationyear under subsection (3), the entity is deemed

(4) Pour lapplication du paragraphe 161(1),si une somme vise lalina (3)a) est inclusedans le revenu dune entit pour une annedimposition en application du paragraphe (3),

Excdent rput


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to have an excess immediately after the entitysbalance-due day for the year computed as if

(a) the entity were resident in Canadathroughout the year;

(b) the entitys tax payable for the year were

equal to the tax payable by the entity on itstaxable income for the year;

(c) the amount were the entitys only taxableincome for the year;

(d) the entity claimed no deductions underDivision E for the year;

(e) the entity had not paid any amounts onaccount of its tax payable for the year; and

(f) the tax payable determined under para-graph (b) had been outstanding throughoutthe period that begins immediately after theend of the taxation year for which theamount was deducted and that ends on theentitys balance-due day for the year.

lentit est rpute avoir, immdiatement aprsla date dexigibilit du solde qui lui est appli-cable pour lanne, un excdent calcul commesi, la fois :

a) elle avait rsid au Canada tout au longde lanne;

b) son impt payable pour lanne tait gal son impt payable sur son revenu impo-sable pour lanne;

c) la somme en cause tait son seul revenuimposable pour lanne;

d) elle ne demandait aucune dduction envertu de la section E pour lanne;

e) elle navait pay aucune somme au titrede son impt payable pour lanne;

f) limpt payable dtermin selon lalinab) tait demeur impay tout au long de la

priode commenant immdiatement aprs lafin de lanne dimposition pour laquelle lasomme en cause a t dduite et se terminant la date dexigibilit du solde qui est appli-cable lentit pour lanne.

(2) Subsection (1) is deemed to have comeinto force on July 20, 2011.

(2) Le paragraphe (1) est rput tre en-tr en vigueur le 20 juillet 2011.

6. (1) Paragraph 13(7)(f) of the Act is re-placed by the following:

6. (1) Lalina 13(7)f) de la mme loi estremplac par ce qui suit :

(f) if a taxpayer is deemed under paragraph111(4)(e) to have disposed of and reacquired

depreciable property (other than a timber re-source property), the capital cost to the tax-

payer of the property at the time of the reac-quisition is deemed to be equal to the total of

(i) the capital cost to the taxpayer of theproperty at the time of the disposition, and

(ii) 1/2 of the amount, if any, by whichthe taxpayers proceeds of disposition ofthe property exceed the capital cost to thetaxpayer of the property at the time of thedisposition;

f) dans le cas o un contribuable est rput,en vertu de lalina 111(4)e), avoir dispos

dun bien amortissable, sauf un avoir fores-tier, et lavoir acquis de nouveau, le cot encapital du bien pour lui au moment o il laacquis de nouveau est rput tre gal au to-tal des sommes suivantes :

(i) le cot en capital du bien pour lui aumoment de la disposition,

(ii) la moiti de lexcdent ventuel duproduit de disposition du bien pour lui surson cot en capital pour lui au moment dela disposition;

(2) Subsection 13(18.1) of the Act is re-placed by the following:

(2) Le paragraphe 13(18.1) de la mme loiest remplac par ce qui suit :

Ascertainmentof certainproperty

(18.1) For the purpose of determiningwhether property meets the criteria set out inthe Income Tax Regulations in respect of pre-

(18.1) Le guide intitul Catgories 43.1 et43.2 Guide technique, avec ses modifica-tions successives, publi par le ministre des

Dterminationde la nature decertains biens


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scribed energy conservation property, the Tech-nical Guide to Class 43.1 and 43.2, as amendedfrom time to time and published by the Depart-ment of Natural Resources, shall apply conclu-sively with respect to engineering and scientificmatters.

Ressources naturelles, est concluant en matiretechnique et scientifique lorsquil sagit de d-terminer si un bien remplit les critres appli-cables aux biens conomisant lnergie viss

par rglement, noncs dans le Rglement delimpt sur le revenu.

(3) Clause 13(21.2)(e)(iii)(D) of the Act isreplaced by the following:

(3) La division 13(21.2)e)(iii)(D) de lamme loi est remplace par ce qui suit :

(D) that is immediately before thetransferor is subject to a loss restrictionevent, or

(D) le moment immdiatement avant lemoment o le cdant est assujetti unfait li la restriction de pertes,

(4) Subsections 13(24) and (25) of the Actare replaced by the following:

(4) Les paragraphes 13(24) et (25) de lamme loi sont remplacs par ce qui suit :


(24) If at any time a taxpayer is subject to aloss restriction event and, within the 12-month

period that ended immediately before that time,the taxpayer, a partnership of which the taxpay-

er was a majority-interest partner or a trust ofwhich the taxpayer was a majority-interest ben-eficiary (as defined in subsection 251.1(3)) ac-quired depreciable property (other than proper-ty that was held, by the taxpayer, partnership ortrust or by a person that would be affiliatedwith the taxpayer if section 251.1 were readwithout reference to the definition controlledin subsection 251.1(3), throughout the periodthat began immediately before the 12-month

period began and ended at the time the propertywas acquired by the taxpayer, partnership ortrust) that was not used, or acquired for use, by

the taxpayer, partnership or trust in a businessthat was carried on by it immediately before the12-month period began

(a) subject to paragraph (b), for the purposesof the description of A in the definition un-depreciated capital cost in subsection (21)and of sections 127 and 127.1, the propertyis deemed

(i) not to have been acquired by the tax-payer, partnership or trust, as the case maybe, before that time, and

(ii) to have been acquired by it immedi-ately after that time; and

(b) if the property was disposed of by thetaxpayer, partnership or trust, as the casemay be, before that time and was not reac-

(24) Si un contribuable est assujetti un faitli la restriction de pertes un moment donnet que, dans la priode de douze mois qui sesttermine immdiatement avant ce moment, le

contribuable, une socit de personnes dont ilest un associ dtenant une participation majo-ritaire ou une fiducie dont il est un bnficiairedtenant une participation majoritaire, au sensdu paragraphe 251.1(3), a acquis un bien amor-tissable (sauf un bien dtenu par le contri-

buable, la socit de personnes ou la fiducie, oupar une personne qui serait affilie au contri-buable si larticle 251.1 sappliquait comptenon tenu de la dfinition de contrl au pa-ragraphe 251.1(3), tout au long de la priodeayant commenc immdiatement avant la p-riode de douze mois et stant termine au mo-

ment o le bien a t acquis par le contribuable,la socit de personnes ou la fiducie) qui na

pas t utilis, ni acquis en vue dtre utilis,par le contribuable, la socit de personnes oula fiducie dans le cadre dune entreprise quilou elle exploitait immdiatement avant le dbutde la priode de douze mois, les rgles ci-aprssappliquent :

a) sous rserve de lalina b), pour lapplica-tion de llment A de la formule figurant la dfinition de fraction non amortie ducot en capital , au paragraphe (21), et des

articles 127 et 127.1, le bien est rput :(i) ne pas avoir t acquis par le contri-

buable, la socit de personnes ou la fidu-cie, selon le cas, avant le moment donn,



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quired by it before that time, for the purposesof the description of A in that definition, the

property is deemed to have been acquired byit immediately before the property was dis-

posed of.

(ii) avoir t acquis par lui ou elle, selonle cas, immdiatement aprs ce moment;

b) dans le cas o le contribuable, la socitde personnes ou la fiducie a dispos du bienavant le moment donn et ne la pas acquisde nouveau avant ce moment, le bien est r-

put, pour lapplication de llment A de laformule mentionne lalina a), avoir tacquis par lui ou elle, selon le cas, immdia-tement avant sa disposition.

Affiliation subsection (24)

(25) For the purposes of subsection (24), ifthe taxpayer referred to in that subsection wasformed or created in the 12-month period re-ferred to in that subsection, the taxpayer isdeemed to have been, throughout the periodthat began immediately before the 12-month

period and ended immediately after it wasformed or created,

(a) in existence; and

(b) affiliated with every person with whomit was affiliated (otherwise than because of aright referred to in paragraph 251(5)(b))throughout the period that began when it wasformed or created and that ended immediate-ly before the time at which the taxpayer wassubject to the loss restriction event referredto in that subsection.

(25) Pour lapplication du paragraphe (24),si le contribuable vis ce paragraphe a tconstitu ou tabli au cours de la priode dedouze mois mentionne ce paragraphe, lesfaits ci-aprs sont rputs savrer son gardtout au long de la priode ayant commenc im-mdiatement avant la priode de douze mois etstant termine immdiatement aprs sa

constitution ou son tablissement :a) il existait;

b) il tait affili chaque personne la-quelle il tait affili (autrement qu causedun droit vis lalina 251(5)b)) tout aulong de la priode ayant commenc au mo-ment de sa constitution ou de son tablisse-ment et stant termine immdiatementavant le moment o il a t assujetti un faitli la restriction de pertes vis ce para-graphe.

Affiliation paragraphe (24)

(5) Subsections (1), (3) and (4) are deemedto have come into force on March 21, 2013,except that subsection 13(24) of the Act, asenacted by subsection (4), is to be read asfollows before September 13, 2013:

(5) Les paragraphes (1), (3) et (4) sont r-puts tre entrs en vigueur le 21 mars 2013.Toutefois, le paragraphe 13(24) de la mmeloi, dict par le paragraphe (4), est rputavoir le libell ci-aprs avant le 13 septembre2013 :

(24) If at any time a taxpayer is subject to aloss restriction event and, within the 12-month

period that ended immediately before that time,the taxpayer or a partnership of which the tax-

payer was a majority-interest partner acquireddepreciable property (other than property thatwas held, by the taxpayer or partnership or by a

person that would be affiliated with the taxpay-er if section 251.1 were read without referenceto the definition controlled in subsection251.1(3), throughout the period that began im-mediately before the 12-month period began

(24) Si un contribuable est assujetti un faitli la restriction de pertes un moment donnet que, au cours de la priode de douze moisqui sest termine immdiatement avant ce mo-ment, le contribuable ou une socit de per-sonnes dont il est un associ dtenant une parti-cipation majoritaire a acquis un bien

amortissable (sauf un bien dtenu par le contri-buable ou la socit de personnes, ou par unepersonne qui serait affilie au contribuable silarticle 251.1 sappliquait compte non tenu dela dfinition de contrl au paragraphe


24/321


and ended at the time the property was acquiredby the taxpayer or partnership) that was notused, or acquired for use, by the taxpayer or

partnership in a business that was carried on byit immediately before the 12-month period be-gan

(a) subject to paragraph (b), for the purposesof the description of A in the definition un-depreciated capital cost in subsection (21)and of sections 127 and 127.1, the propertyis deemed

(i) not to have been acquired by the tax-payer or partnership, as the case may be,before that time, and

(ii) to have been acquired by it immedi-ately after that time; and

(b) if the property was disposed of by the

taxpayer or partnership, as the case may be,before that time and was not reacquired by itbefore that time, for the purposes of the de-scription of A in that definition, the propertyis deemed to have been acquired by it imme-diately before the property was disposed of.

251.1(3), tout au long de la priode ayant com-menc immdiatement avant la priode dedouze mois et stant termine au moment delacquisition du bien par le contribuable ou lasocit de personnes) qui na pas t utilis, niacquis en vue dtre utilis, par le contribuable

ou la socit de personnes dans le cadre duneentreprise quil ou elle exploitait immdiate-ment avant le dbut de la priode de douzemois, les rgles ci-aprs sappliquent :

a) sous rserve de lalina b), pour lapplica-tion de llment A de la formule figurant la dfinition de fraction non amortie ducot en capital , au paragraphe (21), et desarticles 127 et 127.1, le bien est rput :

(i) ne pas avoir t acquis par le contri-buable ou la socit de personnes, selon lecas, avant le moment donn,

(ii) avoir t acquis par lui ou elle, selonle cas, immdiatement aprs ce moment;

b) dans le cas o le contribuable ou la soci-t de personnes a dispos du bien avant lemoment donn et ne la pas acquis de nou-veau avant ce moment, le bien est rput,

pour lapplication de llment A de la for-mule mentionne lalina a), avoir t ac-quis par lui ou elle, selon le cas, immdiate-ment avant sa disposition.

(6) Subsection (2) comes into force, or isdeemed to have come into force, on the dayon which the Technical Guide to Class 43.1and 43.2 is first published by the Depart-ment of Natural Resources.

(6) Le paragraphe (2) entre en vigueur ouest rput tre entr en vigueur la date dela publication initiale par le ministre desRessources naturelles du guide intitul Cat-

gories 43.1 et 43.2 Guide technique.

7. (1) Paragraph 14(12)(f) of the Act isreplaced by the following:

7. (1) Lalina 14(12)f) de la mme loi estremplac par ce qui suit :

(f) that is immediately before the transferoris subject to a loss restriction event, or

f) le moment immdiatement avant le mo-ment o le cdant est assujetti un fait li la restriction de pertes;

(2) Subsection (1) is deemed to have comeinto force on March 21, 2013.

(2) Le paragraphe (1) est rput tre en-tr en vigueur le 21 mars 2013.

8. (1) Subsection 18(4) of the Act is re-

placed by the following:

8. (1) Le paragraphe 18(4) de la mme loi

est remplac par ce qui suit :

Limitation ondeduction ofinterest

(4) Notwithstanding any other provision ofthis Act (other than subsection (8)), in comput-ing the income for a taxation year of a corpora-

(4) Malgr les autres dispositions de la pr-sente loi, lexception du paragraphe (8), au-cune dduction ne peut tre faite, dans le calcul

Plafond de ladductiondintrts


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tion or a trust from a business (other than theCanadian banking business of an authorizedforeign bank) or property, no deduction shall bemade in respect of that proportion of anyamount otherwise deductible in computing itsincome for the year in respect of interest paid

or payable by it on outstanding debts to speci-fied non-residents that

(a) the amount, if any, by which

(i) the average of all amounts each ofwhich is, in respect of a calendar monththat ends in the year, the greatest totalamount at any time in the month of theoutstanding debts to specified non-resi-dents of the corporation or trust,

exceeds

(ii) 1.5 times the equity amount of the

corporation or trust for the year,is of

(b) the amount determined under subpara-graph (a)(i) in respect of the corporation ortrust for the year.

du revenu pour une anne dimposition quunesocit ou une fiducie tire dune entreprise(sauf lentreprise bancaire canadienne dune

banque trangre autorise) ou dun bien, rela-tivement la proportion des sommes dduc-tibles par ailleurs dans le calcul de son revenu

pour lanne au titre dintrts pays ou payerpar elle sur des dettes impayes envers des non-rsidents dtermins que reprsente le rapportentre :

a) dune part, lexcdent ventuel de lamoyenne vise au sous-alina (i) sur lasomme vise au sous-alina (ii) :

(i) la moyenne des sommes reprsentantchacune, pour un mois civil se terminantdans lanne, le montant le plus lev, un moment du mois, des dettes impayesenvers des non-rsidents dtermins de la

socit ou de la fiducie,(ii) une fois et demie le montant des capi-taux propres de la socit ou de la fiducie

pour lanne;

b) dautre part, la somme dtermine selonle sous-alina a)(i) relativement la socitou la fiducie pour lanne.

(2) The portion of the definition out-standing debts to specified non-residents insubsection 18(5) of the Act before paragraph(b) is replaced by the following:

(2) Le passage de la dfinition de dettesimpayes envers des non-rsidents dtermi-ns prcdant lalina b), au paragraphe18(5) de la mme loi, est remplac par ce quisuit :

outstandingdebts tospecified non-residents dettesimpayes enversdes non-rsidentsdtermins

outstanding debts to specified non-residents,of a corporation or trust at any particular timein a taxation year, means

(a) the total of all amounts each of which isan amount outstanding at that time as or onaccount of a debt or other obligation to payan amount

(i) that was payable by the corporation ortrust to a person who was, at any time inthe year,

(A) a specified non-resident sharehold-

er of the corporation or a specified non-resident beneficiary of the trust, or

(B) a non-resident person who was notdealing at arms length with a specified

dettes impayes envers des non-rsidents d-termins Sagissant des dettes impayesdune socit ou dune fiducie envers des non-rsidents dtermins, un moment donn duneanne dimposition :

a) le total des sommes dont chacune repr-sente une somme due ce moment au titredune dette ou autre obligation de verser unmontant et :

(i) dune part, qui tait payable par la so-cit ou la fiducie une personne qui tait,

un moment quelconque de lanne :(A) un actionnaire non-rsident dter-min de la socit ou un bnficiairenon-rsident dtermin de la fiducie,

dettes impay-es envers desnon-rsidentsdtermins outstandingdebts to speci-


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shareholder of the corporation or aspecified beneficiary of the trust, as thecase may be, and

(ii) on which any amount in respect of in-terest paid or payable by the corporationor trust is or would be, but for subsection

(4), deductible in computing the income ofthe corporation or trust for the year,

but does not include

(B) une personne non-rsidente quiavait un lien de dpendance avec un ac-tionnaire dtermin de la socit ou un

bnficiaire dtermin de la fiducie, se-lon le cas,

(ii) dautre part, au titre de laquelle toute

somme relative des intrts pays ou payer par la socit ou la fiducie est d-ductible ou serait dductible, en labsencedu paragraphe (4), dans le calcul du reve-nu de la socit ou de la fiducie pour lan-ne,

lexclusion :

fied non-residents

(3) Subsection 18(5) of the Act is amendedby adding the following in alphabetical or-der:

(3) Le paragraphe 18(5) de la mme loiest modifi par adjonction, selon lordre al-phabtique, de ce qui suit :

beneficiary bnficiaire

beneficiary has the same meaning as in sub-

section 108(1);equity amount montant descapitaux

propres

equity amount, of a corporation or trust for ataxation year, means

(a) in the case of a corporation resident inCanada, the total of

(i) the retained earnings of the corporationat the beginning of the year, except to theextent that those earnings include retainedearnings of any other corporation,

(ii) the average of all amounts each ofwhich is the corporations contributed sur-

plus (other than any portion of that con-tributed surplus that arose in connectionwith an investment, as defined in subsec-tion 212.3(10), to which subsection212.3(2) applies) at the beginning of a cal-endar month that ends in the year, to theextent that it was contributed by a speci-fied non-resident shareholder of the corpo-ration, and

(iii) the average of all amounts each ofwhich is the corporations paid-up capitalat the beginning of a calendar month thatends in the year, excluding the paid-up

capital in respect of shares of any class ofthe capital stock of the corporation owned

by a person other than a specified non-res-ident shareholder of the corporation,

apport de capitaux propres Sagissant dun

apport de capitaux propres fait une fiducie,tout transfert de biens la fiducie qui est effec-tu :

a) soit en change dune participation titrede bnficiaire de la fiducie;

b) soit en change dun droit dacqurir uneparticipation titre de bnficiaire de la fidu-cie;

c) soit sans contrepartie par une personnequi a un droit de bnficiaire sur la fiducie.

apport decapitaux

propres equitycontribution

bnfices librs dimpt Relativement

une fiducie rsidant au Canada pour une annedimposition, le total des sommes reprsentantchacune la somme obtenue par la formule ci-aprs relativement une anne dimpositiondonne de la fiducie ayant pris fin avant lan-ne en cause :

A B

o :

A reprsente le revenu imposable de la fiducieen vertu de la prsente partie pour lannedonne;

B le total de limpt payable par la fiducie envertu de la prsente partie pour lanne don-ne et des impts sur le revenu payables parelle pour cette anne en vertu des lois dune

province.

bnficeslibrs dimpt

tax-paidearnings


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Documents

Bill C-4 / Projet de loi C-4