Tax wiki
s. 207.07
PART XI.01 — Taxes in Respect of Registered Plans
Return and payment of tax
Not yet annotated · Text current to 2026-06-21 · section last amended 2017-12-14
Current text
A person who is liable to pay tax under this Part for all or any part of a calendar year shall before July of the following calendar year
file with the Minister a return for the year under this subsection in prescribed form and containing prescribed information including
an estimate of the amount of tax payable under this Part by the person in respect of the year, and
an estimate of the amount of the person’s allowable refund, if any, for the year; and
pay to the Receiver General the amount, if any, by which the amount of the person’s tax payable under this Part in respect of the year exceeds the person’s allowable refund, if any, for the year.
Multiple holders or subscribers
(1.1)If two or more holders of a RDSP, or two or more subscribers of a RESP, are jointly and severally, or solidarily, liable with each other to pay a tax under this Part for a calendar year in connection with the plan,
a payment by any of the holders, or any of the subscribers, on account of that tax liability shall to the extent of the payment discharge the joint liability; and
a return filed by one of the holders, or one of the subscribers, as required by this Part for the year is deemed to have been filed by each other holder, or each other subscriber, in respect of the joint liability to which the return relates.
Refund
(2)If a person has filed a return under this Part for a calendar year within three years after the end of the year, the Minister
may, on sending the notice of assessment for the year, refund without application any allowable refund of the person for the year, to the extent that it was not applied against the person’s tax payable under paragraph (1)(b); and
shall, with all due dispatch, make the refund referred to in paragraph (a) after sending the notice of assessment if an application for it has been made in writing by the person within three years after the sending of an original notice of assessment for the year.
Provisions applicable to Part
(3)Subsections 150(2) and (3), sections 152 and 158 to 167 and Division J of Part I apply to this Part with any modifications that the circumstances require.
Source: Justice Laws Website. Not an official version.
Historic text
Immediately preceding version, in force from 2013-12-12 to 2017-12-13:
Show the text in force 2013-12-12 to 2017-12-13
Return and payment of tax
207.07 (1) A person who is liable to pay tax under this Part for all or any part of a calendar year shall before July of the following calendar year
(a) file with the Minister a return for the year under this subsection in prescribed form and containing prescribed information including
(i) an estimate of the amount of tax payable under this Part by the person in respect of the year, and
(ii) an estimate of the amount of the person’s allowable refund, if any, for the year; and
(b) pay to the Receiver General the amount, if any, by which the amount of the person’s tax payable under this Part in respect of the year exceeds the person’s allowable refund, if any, for the year.
Refund
(2) If a person has filed a return under this Part for a calendar year within three years after the end of the year, the Minister
(a) may, on sending the notice of assessment for the year, refund without application any allowable refund of the person for the year, to the extent that it was not applied against the person’s tax payable under paragraph (1)(b); and
(b) shall, with all due dispatch, make the refund referred to in paragraph (a) after sending the notice of assessment if an application for it has been made in writing by the person within three years after the sending of an original notice of assessment for the year.
Provisions applicable to Part
(3) Subsections 150(2) and (3), sections 152 and 158 to 167 and Division J of Part I apply to this Part with any modifications that the circumstances require.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- 2008, c. 28, s. 31
- 2010, c. 25, s. 62
- 2013, c. 40, s. 79
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 207.07 links to the one before it.
Enacting and amending legislation
- 2008, c. 28, s. 31; 2010, c. 25, s. 62; 2013, c. 40, s. 79; 2017, c. 33, s. 71
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
This section refers to
References are generated from the statutory text and list other sections of the Act only.
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 207.07.