Common use of TAXATION STATUS Clause in Contracts

TAXATION STATUS. 15.1 The Tr'xxxxx Hwëch'in shall, for the purposes of paragraph 149(1)(c) of the Income Tax Act (Canada) be deemed to be a public body performing a function of government in Canada for each taxation year of the Tr'xxxxx Hwëch'in where, at all times during the year: 15.1.1 all of its real property and all or substantially all of its tangible personal property was, or was situate on, Settlement Land; 15.1.2 it did not carry on any business other than a business carried on by it on Settlement Land, the primary purpose of which was to provide goods or services to Citizens or residents of Settlement Land; and 15.1.3 all or substantially all of its activities were devoted to the exercise of its powers of government authorized under this Agreement, Self- Government Legislation, its Final Agreement or Settlement Legislation, and for these purposes the taxation year of the Tr'xxxxx Hwëch'in shall be the calendar year or such other fiscal period as the Tr'xxxxx Hwëch'in may elect. 15.2 Nothing in this Agreement shall affect the taxation status of Settlement Corporations as provided for in Chapter 20 of the Final Agreement. 15.3 No tax shall be payable under the Income Tax Act (Canada) for a taxation year on the income, property or capital of a corporation, in this clause referred to as "the subsidiary", where, at all times during the year: 15.3.1 all the shares and capital of the subsidiary are owned by the Tr'xxxxx Hwëch'in or by another subsidiary that satisfies the requirements of 15.3.1, 15.3.2, 15.3.3, 15.3.4 and 15.3.5; 15.3.2 no part of the earnings of the subsidiary are available to any person other than the Tr'xxxxx Hwëch'in or to another subsidiary that satisfies the requirements of 15.3.1, 15.3.2, 15.3.3, 15.3.4 and 15.3.5; 15.3.3 all of the real property and all or substantially all of the tangible personal property of the subsidiary is, or is situate on, Settlement Land. 15.3.4 the subsidiary did not carry on any business other than a business carried on by it on Settlement Land, the primary purpose of which was to provide goods or services to Citizens or residents of Settlement Land, provided that any revenue arising from the provision of goods or services to persons other than Citizens or residents of Settlement Land comprises only an incidental portion of the total revenue from the business; and 15.3.5 the subsidiary was not a Settlement Corporation established pursuant to Chapter 20 of the Final Agreement. 15.4 Where the Tr'xxxxx Hwëch'in is deemed to be a public body under 15.1 for a particular year, no income tax will be imposed on the Tr'xxxxx Hwëch'in by the Yukon in respect of that year. 15.5 Where, under 15.3, no income tax is payable by a subsidiary for a particular year, no income tax will be imposed on the subsidiary by the Yukon in respect of that year. 15.6 For greater certainty, nothing in 15.1 to 15.5 shall be construed so as to prevent the application of section 149 of the Income Tax Act (Canada) to the Tr'xxxxx Hwëch'in or to a corporation referred to in 15.3. 15.7 The Tr'xxxxx Hwëch'in, or a trust, board, commission or similar body established by the Tr'xxxxx Hwëch'in, or a corporation wholly owned by any such entity or by a combination thereof (each of which is referred to in

TAXATION STATUS. 15.1 15 .1 The Tr'xxxxx Hwëch'in Teslin Tlingit Council shall, for the f or t he purposes of paragraph 149(1)(c149 (1 )(c) of the Income Tax Act (Canada) A ct , S.C.1970 -71 -72 , c. 63 be deemed to be a public body performing a function of government in Canada for each taxation year of the Tr'xxxxx Hwëch'in whereTeslin Tlingit Council w here, at all times during t xxxx before t he end of the year: 15.1.1 15 .1 .1 all of its it s real property propert y and all or substantially all of its it s tangible personal property was, or was w as situate on, Settlement on Set t lement Land; 15.1.2 15 .1 .2 it did not carry on any business other than t han a business carried on by it on Settlement Land, the primary purpose of which was w hich w as to provide goods or services to Citizens Cit izens or residents of Settlement Land; and 15.1.3 15 .1 .3 all or substantially all of its it s activities were w ere devoted to the exercise of its powers it s pow ers of government authorized under this Agreementt his A greement, Self- Self-Government Legislation, its Final Agreement it s Settlement A greement or Settlement Legislation, and for these t hese purposes the taxation year of the Tr'xxxxx Hwëch'in Teslin Tlingit Council shall be the calendar year or such other fiscal f iscal period as the Tr'xxxxx Hwëch'in Teslin Tlingit Council may elect. 15.2 15 .2 Nothing in this Agreement A greement shall affect af fect the taxation status of Settlement Corporations as provided for in Chapter 20 of the Final AgreementA greement. 15.3 15 .3 No tax t ax shall be payable under the t he Income Tax Act (Canada) A ct , S.C. 1970 -7 1 -7 2 , c. 6 3 for a taxation year on the income, property or capital of a corporation, in this clause referred to as "" the subsidiary"" , wherew here, at all times during t xxxx before the end of the year: 15.3.1 15 .3 .1 all the shares and capital of the subsidiary are owned ow xxx by the Tr'xxxxx Hwëch'in Teslin Tlingit Council or by another subsidiary that satisfies the t he requirements of 15.3.115 .3 .1 , 15.3.215 .3 .2 , 15.3.3, 15.3.4 and 15.3.5; 15.3.2 15 .3 .2 no part of the earnings of the subsidiary are available to any person other than the Tr'xxxxx Hwëch'in Teslin Tlingit Council or to another subsidiary that satisfies the t he requirements of 15.3.1, 15.3.2, 15.3.3, 15.3.4 and 15.3.5; 15.3.3 15 .3 .3 all of the real property and all or substantially all of the tangible t angible personal property of the subsidiary is, or is situate on, on Settlement Land.; 15.3.4 15 .3 .4 the subsidiary did not carry on any business other than a business carried on by it on Settlement Land, the primary purpose of which was w hich w as to provide goods or services to Citizens Cit izens or residents of Settlement Land, provided that any revenue arising from f rom the provision of goods or services to persons other than Citizens Cit izens or residents of Settlement Set t lement Land comprises only an incidental portion of the total t otal revenue from f rom the business; and 15.3.5 15 .3 .5 the subsidiary was w as not a Settlement Corporation established pursuant to Chapter 20 2 0 of the Final AgreementA greement. 15.4 Where 15 .4 W here the Tr'xxxxx Hwëch'in Teslin Tlingit Council is deemed to be a public body under 15.1 15 .1 for a particular year, no income tax will w ill be imposed on the Tr'xxxxx Hwëch'in t he Teslin Tlingit Council by the t he Yukon in respect of that year. 15.5 Where15 .5 W here, under 15.315 .3 , no income tax is payable by a subsidiary for a particular year, no income tax will w ill be imposed on the subsidiary by the Yukon in respect of that year. 15.6 For greater certainty, nothing in 15.1 to 15.5 shall be construed so as to prevent the application of section 149 of the Income Tax Act (Canada) to the Tr'xxxxx Hwëch'in or to a corporation referred to in 15.3. 15.7 The Tr'xxxxx Hwëch'in, or a trust, board, commission or similar body established by the Tr'xxxxx Hwëch'in, or a corporation wholly owned by any such entity or by a combination thereof (each of which is referred to in