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Canada - Taxation: Stikeman Income Tax and EPT Consolidation 1947-1948
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sand-@wwdb.org
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Jul 08, 2003 18:31 PDT
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-----Original Message-----
From: SJG [mailto:sand-@wwdb.org]
Sent: Tuesday, July 08, 2003 11:56 AM
To: Russ & Elaine Porisky (E-mail)
Cc: Michael Millar (E-mail); Gordon Watson (E-mail 2)
Subject: Stikeman Income Tax and EPT Consolidation 1947-1948
Importance: High
COPYRIGHT CANADA, 1947
RICHARD De BOO LIMITED
Publisher's Note
The publication of this volume is designed to meet a need
which has increased throughout the thirty-one years life of
Canadian income taxation. The fiscal policy inaugurated
with the first Income War Tax Act of 1917 has achieved
undreamed of proportions. Its foundations rest upon
statutes which have undergone almost as many vicissitudes as
they have had years of life. The Income War Tax Act has
been amended by no less that thirty-eight different Acts of
Parliament, each of which has added, substituted or altered
a large number of the statutory provisions which it now
contains. The Excess Profits Tax Act has also been the
subject of frequent amending legislation while at the same
time both it and the Income War Tax Act have been
substantially altered in scope and interpretation by a
multiplicity of departmental regulations, orders-in-council,
reciprocal treaties and international conventions
Today more than ever it has become one of the essentials of
sound business management to know the state of the tax law
and its incidence upon both the Canadian and non-resident
taxpayer during past years. The existence of the excess
profits tax alone, for example, serves to underscore this
need by its standard period test which is based upon the
profits of the taxpayer during the years 1936 to 1939
inclusive. In order to establish the base profits of such
period, every corporation and individual must know the
proper application of the law as it affected him during
those years.
In this volume for the first time in Canadian tax history
the Income War Tax Act and the Excise Profits Tax Act are
reproduced completely in all their various forms as they
have existed since their original consolidation in the
Revised Statutes of Canada, 1927. These Acts are here so
arranged as to show at a glance the precise language of
every section throughout its legislative life from 1927 to
the latest enactment in 1947. This publication will be
reprinted in full each year so as to keep pace with all
future statutory changes.
In addition to a most comprehensive index, the various
sections are annotated upon a cross-reference basis keyed
directly to other related sections and provisions of the
law, as well as to all relevant official departmental
regulations, orders-in-council and reciprocal tax treaties
and convention with other countries.
The material in this publication has been brought together,
arranged and annotated by H. Heward Stikeman, B.A., B.C.L.,
Barrister-at-Law of the Quebec Bar and sometime Assistant
Deputy Minister of National Revenue for Taxation (Legal).
Mr. Stikeman is the Editor of the Canada Tax Cases
(Annotated) and the Dominion of Canada Tax Service ad we
consider ourselves fortunate to have the benefit of his
knowledge and direction throughout this work.
------------------------------------------------------------
--------------------
Section TWO Definitions
"GROSS REVENUE"
(e) "gross revenue" (where a personal corporation has
revenue from more than one source) means the sum of the net
profits from each source;
"PERSON"
(h) "person" includes any body corporate and politic and
any association or other body, and the heirs, executors,
administrators and curators or other legal representatives
of such person, according to the law of that part of Canada
to which the context extends;
"TAXPAYER"
(k) "taxpayer" includes any "person" whether or not
liable to pay tax;
"EARNED INCOME"
(m) "earned income" means salary, wages, fees, bonuses,
pensions, superannuation allowances, retiring allowances,
gratuities, honoraria, and the income from any office or
employment of profit held by any person, and any income
derived by a person in the carrying on or exercise by such
person of a trade, vocation or calling, either alone or, in
the case of a partnership, as a partner actively engaged in
the conduct of the business thereof, and includes
indemnities or other remuneration paid to members of the
Dominion, provincial or territorial legislative bodies or
municipal councils, but shall not include income derived by
way or rents or royalties;
------------------------------------------------------------
--------------------
Section THREE
PART I
TAXABLE INCOME
TAXABLE INCOME DEFINED
"INCOME"
3. For the purposes of this Act, "income" means the
annual net profit or gain or gratuity, whether ascertained
and capable of computation as being wages, salary, or other
fixed amount, or unascertained as being fees or emoluments,
or as being profits from trade or commercial or financial or
other business or calling, directly or indirectly received
by a person from any office or employment, or from any
profession or calling, or from any trade, manufacture or
business, as the case may be whether derived from sources
within Canada or elsewhere; and shall include the interest,
dividends or profits directly or indirectly received from
money at interest upon any security or without security, or
from stocks, or from any other investment, and, whether such
gains or profits are divided or distributed or not, and also
the annual profit or gain from any other source including
(a) the income from but not the value of the property
acquired by gift, bequest, devise or descent; and
(b) annuities received under a contract (other than the
payments described in paragraph (c) of this subsection)
except a portion of each amount received thereunder that
bears the.............
etc, etc, etc.
------------------------------------------------------------
--------------------
Just thought you folks would like to know some of the above
excerpts.
If you have any other questions relating to this volume
which just arrived in my office, please know that it is here
in my office, along with a growing number of other
"versions" of the ITA.
------=_NextPart_000_00A7_01C3457F.2770E8A0
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<DIV> </DIV>
<DIV class=OutlookMessageHeader dir=ltr align=left><FONT face=Tahoma
size=2>-----Original Message-----<BR><B>From:</B> SJG
[mailto:sand-@wwdb.org]<BR><B>Sent:</B> Tuesday, July 08, 2003 11:56
AM<BR><B>To:</B> Russ & Elaine Porisky (E-mail)<BR><B>Cc:</B> Michael Millar
(E-mail); Gordon Watson (E-mail 2)<BR><B>Subject:</B> Stikeman Income Tax and
EPT Consolidation 1947-1948<BR><B>Importance:</B> High<BR><BR></FONT></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>COPYRIGHT CANADA,
1947</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>RICHARD De BOO
LIMITED</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2><EM><STRONG>Publisher's
Note</STRONG></EM></FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>The publication of this volume
is designed to meet a need which has increased throughout the thirty-one years
life of Canadian income taxation. The fiscal policy inaugurated with the
first Income War Tax Act of 1917 has achieved undreamed of proportions.
Its foundations rest upon statutes which have undergone almost as many
vicissitudes as they have had years of life. The Income War Tax Act has
been amended by no less that thirty-eight different Acts of Parliament, each of
which has added, substituted or altered a large number of the statutory
provisions which it now contains. The Excess Profits Tax Act has also been
the subject of frequent amending legislation while at the same time both it and
the Income War Tax Act have been substantially altered in scope and
interpretation by a multiplicity of departmental regulations, orders-in-council,
reciprocal treaties and international conventions</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>Today more than ever it has
become one of the essentials of sound business management to know the state of
the tax law and its incidence upon both the Canadian and non-resident taxpayer
during past years. The existence of the excess profits tax alone, for
example, serves to underscore this need by its standard period test which is
based upon the profits of the taxpayer during the years 1936 to 1939
inclusive. In order to establish the base profits of such period, every
corporation and individual must know the proper application of the law as it
affected him during those years.</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>In this volume for the first
time in Canadian tax history the Income War Tax Act and the Excise Profits Tax
Act are reproduced completely in all their various forms as they have existed
since their original consolidation in the Revised Statutes of Canada,
1927. These Acts are here so arranged as to show at a glance the precise
language of every section throughout its legislative life from 1927 to the
latest enactment in 1947. This publication will be reprinted in full each
year so as to keep pace with all future statutory changes.</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>In addition to a most
comprehensive index, the various sections are annotated upon a cross-reference
basis keyed directly to other related sections and provisions of the law, as
well as to all relevant official departmental regulations, orders-in-council and
reciprocal tax treaties and convention with other countries.</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>The material in this
publication has been brought together, arranged and annotated by H. Heward
Stikeman, B.A., B.C.L., Barrister-at-Law of the Quebec Bar and sometime
Assistant Deputy Minister of National Revenue for Taxation
(Legal).</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>Mr. Stikeman is the Editor of
the Canada Tax Cases (Annotated) and the Dominion of Canada Tax Service ad we
consider ourselves fortunate to have the benefit of his knowledge and direction
throughout this work.</FONT></SPAN></DIV><SPAN class=879371818-08072003>
<DIV>
<HR>
</DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>Section TWO
Definitions</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>"GROSS
REVENUE"</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>(e) "gross
revenue" (where a personal corporation has revenue from more than one source)
means the sum of the net profits from each source;</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>"PERSON"</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>(h) "person"
includes any body corporate and politic and any association or other body, and
the heirs, executors, administrators and curators or other legal representatives
of such person, according to the law of that part of Canada to which the context
extends;</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>"TAXPAYER"</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>(k)
"taxpayer" includes any "person" whether or not liable to pay
tax;</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>"EARNED
INCOME"</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>(m) "earned
income" means salary, wages, fees, bonuses, pensions, superannuation allowances,
retiring allowances, gratuities, honoraria, and the income from any office or
employment of profit held by any person, and any income derived by a person in
the carrying on or exercise by such person of a trade, vocation or calling,
either alone or, in the case of a partnership, as a partner actively engaged in
the conduct of the business thereof, and includes indemnities or other
remuneration paid to members of the Dominion, provincial or territorial
legislative bodies or municipal councils, but shall not include income derived
by way or rents or royalties;</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003>
<HR>
</SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>Section
THREE</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>PART I</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>TAXABLE
INCOME</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>TAXABLE INCOME
DEFINED</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>"INCOME"</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>3. For the
purposes of this Act, "income" means the annual net profit or gain or gratuity,
whether ascertained and capable of computation as being wages, salary, or other
fixed amount, or unascertained as being fees or emoluments, or as being profits
from trade or commercial or financial or other business or calling, directly or
indirectly received by a person from any office or employment, or from any
profession or calling, or from any trade, manufacture or business, as the case
may be whether derived from sources within Canada or elsewhere; and shall
include the interest, dividends or profits directly or indirectly received from
money at interest upon any security or without security, or from stocks, or from
any other investment, and, whether such gains or profits are divided or
distributed or not, and also the annual profit or gain from any other source
including</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>(a) the
income from but not the value of the property acquired by gift, bequest, devise
or descent; and</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>(b) annuities
received under a contract (other than the payments described in paragraph (c) of
this subsection) except a portion of each amount received thereunder that bears
the.............</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>etc, etc,
etc.</FONT></SPAN></DIV><SPAN class=879371818-08072003>
<DIV>
<HR>
</DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>Just thought you folks would
like to know some of the above excerpts.</FONT></SPAN></DIV>
<DIV><SPAN class=879371818-08072003><FONT size=2>If you have any other questions
relating to this volume which just arrived in my office, please know that it is
here in my office, along with a growing number of other "versions" of the
ITA.</FONT></SPAN></DIV></SPAN>
<DIV><SPAN class=879371818-08072003><FONT
size=2></FONT></SPAN> </DIV></SPAN></BODY></HTML>
------=_NextPart_000_00A7_01C3457F.2770E8A0--
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