I-3, r. 1 - Regulation respecting the Taxation Act

Section 818r37 Disposition versions

2017-04-12

818R37. (Revoked).

s. 818R29.1; O.C. 91-94, s. 73; O.C. 1707-97, s. 98; O.C. 1466-98, s. 74; O.C. 1463-2001, s. 83; O.C. 134-2009, s. 1; O.C. 321-2017, s. 36.

2012-09-01

818R37. For the purposes of Chapters II to XIV, XVI and XX, Canadian investment property of an insurer for a taxation year means an investment property that, unless the insurer is not resident in Canada and it establishes that the investment property is not effectively connected with one of its insurance businesses in Canada, is one of the following properties:

(a)  land or depreciable property situated in Canada and, for that purpose, depreciable property of an insurer leased by a person resident in Canada for use inside and outside Canada is deemed to be depreciable property situated in Canada;

(b)  a Canadian equity property;

(c)  a Canadian resource property;

(d)  a hypothecary claim, mortgage, an agreement of sale or any other form of indebtedness in respect of property referred to in paragraph a;

(e)  an amount in Canadian currency on deposit to the credit of the insurer with a corporation resident in Canada that is authorized to accept deposits or to offer services as a trustee;

(f)  a bond, debenture or other form of indebtedness in Canadian currency, other than a property described in paragraph d or e, issued by

i.  a person resident in Canada, a Canadian partnership or a partnership an interest in which is an investment property described in paragraph g,

ii.  the Government of Canada,

iii.  the government of a province, or

iv.  by a political subdivision of Canada; or

(g)  a property, to the extent that it is not a property described in paragraph b, that is a share of a designated corporation resident in Canada, an interest in a partnership or an interest in a trust resident in Canada, provided that not less than 75% of the value of the aggregate of the property of that corporation, partnership or trust, as the case may be, is constituted of property described in paragraphs a to f.

s. 818R29.1; O.C. 91-94, s. 73; O.C. 1707-97, s. 98; O.C. 1466-98, s. 74; O.C. 1463-2001, s. 83; O.C. 134-2009, s. 1.