Tax wiki
s. 183.4
PART II.2 — Tax on Repurchases of Equity
Return
Not yet annotated · Text current to 2026-06-21 · section last amended 2026-03-26
Current text
If a covered entity redeems, acquires or cancels equity of the entity in a taxation year,
if the entity is a corporation, on or before the day it is required to file its return of income under Part I for the year, the corporation shall file with the Minister a return for the year under this Part in prescribed form;
if the entity is a trust, within 90 days after the end of the taxation year, the trustee of the trust shall file with the Minister a return for the year under this Part in prescribed form; and
if the entity is a partnership, every member of the partnership must — on or before the day on which a return is, or would be if the entity were a SIFT partnership, required to be filed for the year under section 229 of the Income Tax Regulations — file with the Minister a return for the year under this Part in prescribed form.
Authority to file return for partnership
(1.1)For the purposes of paragraph (1)(c), if, in respect of a taxation year of a partnership, a particular member of the partnership has authority to act for the partnership,
if the particular member has filed a return as required by this Part for the year, each other person who was a member of the partnership during the year is deemed to have filed the return; and
a return that has been filed by any other member of the partnership for the year is not valid and is deemed not to have been filed by any member of the partnership.
Payment
(2)Every covered entity that is liable to pay tax under this Part for a taxation year, shall
if the entity is a corporation or trust, pay its tax payable under this Part for the year to the Receiver General on or before its balance-due day for the year; and
if the entity is a partnership, pay its tax payable under this Part for the year to the Receiver General on or before the day which the partnership is required to file a return for the year under paragraph (1)(c).
Provisions applicable to Part
(3)Subsections 150(2) and (3), sections 152, 158 and 159, subsections 160.1(1) and 161(1) and (11), sections 162 to 167 and Division J of Part I are applicable to this Part with such modifications as the circumstances require.
Source: Justice Laws Website. Not an official version.
Historic text
Immediately preceding version, in force from 2024-06-20 to 2026-03-25:
Show the text in force 2024-06-20 to 2026-03-25
Return
183.4 (1) If a covered entity redeems, acquires or cancels equity of the entity in a taxation year,
(a) if the entity is a corporation, on or before the day it is required to file its return of income under Part I for the year, the corporation shall file with the Minister a return for the year under this Part in prescribed form;
(b) if the entity is a trust, within 90 days after the end of the taxation year, the trustee of the trust shall file with the Minister a return for the year under this Part in prescribed form; and
(c) if the entity is a partnership, a member of the partnership that has authority to act for the partnership shall file with the Minister a return for the year under this Part in prescribed form on or before the earlier of
(i) the day that is five months after the end of the taxation year, and
(ii) March 31 in the calendar year immediately following the calendar year in which the taxation year ended.
Payment
(2) Every covered entity that is liable to pay tax under this Part for a taxation year, shall
(a) if the entity is a corporation or trust, pay its tax payable under this Part for the year to the Receiver General on or before its balance-due day for the year; and
(b) if the entity is a partnership, pay its tax payable under this Part for the year to the Receiver General on or before the day which the partnership is required to file a return for the year under paragraph (1)(c).
Provisions applicable to Part
(3) Subsections 150(2) and (3), sections 152, 158 and 159, subsections 160.1(1) and 161(1) and (11), sections 162 to 167 and Division J of Part I are applicable to this Part with such modifications as the circumstances require.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- 2024, c. 15, s. 53
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 183.4 links to the one before it.
Enacting and amending legislation
- 2024, c. 15, s. 53
- 2026, c. 3, s. 82
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 183.4.