PART XI.3 — Tax in Respect of Retirement Compensation Arrangements

Waiver of tax payable

Not yet annotated · Text current to 2026-06-21 · section last amended 2024-06-20

Current text

If a person would otherwise be liable to pay a tax under this Part because of any of sections 207.61 to 207.63, the Minister may waive or cancel all or part of the liability if the Minister considers it just and equitable to do so having regard to all the circumstances, including

(a)

whether the tax arose as a consequence of reasonable error; and

(b)

the extent to which the transaction or event or series of transactions or events that gave rise to the tax also gave rise to another tax under this Act.

Source: Justice Laws Website. Not an official version.

Historic text

Immediately preceding version, in force from 2012-12-14 to 2024-06-19:

Show the text in force 2012-12-14 to 2024-06-19

Waiver of tax payable

207.64 If a person would otherwise be liable to pay a tax under this Part because of any of sections 207.61 to 207.63, the Minister may waive or cancel all or part of the liability if the Minister considers it just and equitable to do so having regard to all the circumstances, including

(a) whether the tax arose as a consequence of reasonable error; and
(b) the extent to which the transaction or event or series of transactions or events that gave rise to the tax also gave rise to another tax under this Act.

[NOTE: Application provisions are not included in the consolidated text
see relevant amending Acts and regulations.]
2012, c. 31, s. 45

This version on Justice Laws

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 207.64 links to the one before it.

Enacting and amending legislation

2012, c. 31, s. 45
2024, c. 17, s. 67(F)

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

s. 207.61

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. 207.64.