SIFT Regime definition

SIFT Regime means the amendments to provisions of the Tax Act proclaimed in force on June 22, 2007, as amended, that implement the changes announced as part of the Tax Fairness Plan proposed by the Minister of Finance (Canada) on October 31, 2006 which modify the tax treatment of SIFTs, and the tax treatment of their unitholders in the manner described below under “Canadian Federal Income Tax Considerations – SIFT Regime”.
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Examples of SIFT Regime in a sentence

  • Subject to the application of the SIFT Regime (as defined herein) discussed under the heading "Certain Canadian Federal Income Tax Considerations", returns on capital are generally taxed as ordinary income, capital gains or dividends in the hands of a Unitholder while returns of capital are generally tax-deferred (and reduce the Unitholder's cost base in the Unit for tax purposes).

  • Application of the SIFT Regime may, depending on the nature of distributions from the REIT, including what portion of its distributions is income and what portion is a return of capital, have a material adverse effect on the after-tax returns of certain Unitholders.

  • There can be no assurances, however, that the REIT will be able to restructure such that it will not be subject to the tax imposed by the SIFT Regime, or that any such restructuring, if implemented, would not result in material costs or other adverse consequences to the REIT and the Unitholders.

  • Management of the REIT has informed counsel that the REIT intends to take such steps as are necessary to ensure that, to the extent possible, it qualifies for the REIT Exception and any negative effects of the SIFT Regime on the REIT and the Unitholders are minimized.

  • Management of the REIT believes that any impact of the SIFT Regime on Unitholders would be significantly mitigated in 2015 due to the large proportion of the distributions which are expected to be made by way of return of capital.

  • This includes requirements that Crombie qualifies as a "mutual fund trust" as defined in the Tax Act, and ensuring that the SIFT Regime (as described in more detail below) under the Tax Act is not applicable to Crombie.The following summary of these rules is of a general nature only and is based upon the current provisions of the Tax Act and the Regulations, and all proposals to amend the Tax Act and the Regulations publicly announced by the Minister of Finance (Canada) prior to the date hereof.

  • Subject to the application of the SIFT Regime (as defined herein) discussed under the heading "Certain Canadian Federal Income Tax Considerations", returns on capital are generally taxed as ordinary income, capital gains or dividends in the hands of a Unitholder while returns of capital are generally tax-deferred (and reduce the Unitholder's tax cost in the Unit for tax purposes).

  • Management of the REIT believes that any impact of the SIFT Regime on Unitholders would be significantly mitigated in 2020 due to the large proportion of the distributions which are expected to be made by way of return of capital.

  • The application of the SIFT Regime to the REIT would not change the treatment under the Tax Act of distributions in a year that are in excess of the REIT’s net income for the year.

  • Management of the REIT believes that any impact of the SIFT Regime on Unitholders would be significantly mitigated in 2019 due to the large proportion of the distributions which are expected to be made by way of return of capital.

Related to SIFT Regime

  • Qualified airport authority means an airport authority

  • Contracting Department any contracting authority as defined in Regulation 5(2) of the Public Contracts (Works, Services and Supply) (Amendment) Regulations 2000 other than the Department; "Contractor Personnel" all employees, agents, consultants and contractors of the Contractor and/or of any Sub-contractor; "Contractor Software" software which is proprietary to the Contractor, including software which is or will be used by the Contractor for the purposes of providing the Services; "Crown Body" any department, office or agency of the Crown;

  • Ombud ’ means each of the following:

  • Foreign Asset Control Regulations has the meaning set forth in Section 10.18.

  • Procurement Regulations means, for purposes of paragraph 87 of the Appendix to the General Conditions, the “World Bank Procurement Regulations for IPF Borrowers”, dated July 2016, revised November 2017 and August 2018.

  • Nodal Ministry means the Ministry or Department identified pursuant to this order in respect of a particular item of goods or services or works.

  • Free Trade Agreement country means Australia, Bahrain, Canada, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Korea (Republic of), Mexico, Morocco, Nicaragua, Panama, Peru, or Singapore.

  • Plant regulator means any substance or mixture of

  • Safety Management System has the meaning given to it in the ISM Code.

  • County department means the county or district department of human or social services.

  • Airport Authority means any city or any public or private board or other body or organization chartered or otherwise established for the purpose of administering, operating or managing airports or related facilities, which in each case is an owner, administrator, operator or manager of one or more airports or related facilities.

  • ITAR means the International Traffic in Arms Regulations, 22 C.F.R. §§ 120-130, as amended.

  • Federal Aviation Administration and "FAA" mean the United States Federal Aviation Administration and any agency or instrumentality of the United States government succeeding to their functions.

  • Planning Department means the Planning Department of the City and County of San Francisco.

  • relevant regulations means, at any time, any requirements of Austrian law or contained in the regulations, requirements, guidelines or policies of the Competent Authority, the European Parliament and/or the European Council, then in effect in the Republic of Austria and applicable to the BAWAG Regulatory Group and/or (as the case may be) the Issuer, including but not limited to the provisions of the BWG, the CRD, the CRR, the CDR and the SSM Regulation, in each case as amended from time to time, or such other law, regulation or directive as may come into effect in place thereof.

  • Privacy Regulations means the Privacy and Electronic Communications (EC Directive) Regulations 2003 as amended in 2004, 2011, 2015 and 2016 and as may be further amended from time to time;

  • Port Authority means the Port Hedland Port Authority, being the body corporate established for the Port under the Port Authorities Act;

  • Foreign Assets Control Regulations has the meaning set forth in Section 10.18.

  • Relevant Regulator means the PRA or any successor entity or other entity primarily responsible for the prudential supervision of the Issuer.

  • Safety Management Certificate has the meaning given to it in the ISM Code.

  • Securitisation Regulation means Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012, as such may be amended, supplement or replaced from time to time;

  • IWAI/ Authority/ Department/ Owner means the Inland Waterways Authority of India, which invites tenders on behalf of the Chairman, IWAI and includes therein-legal representatives, successors and assigns.

  • USEPA means the United States Environmental Protection Agency.

  • Official traffic-control devices means all signs, signals, markings, and devices not inconsistent with this chapter placed or erected by authority of a public body or official having jurisdiction, for the purpose of regulating, warning, or guiding traffic.

  • local municipality means a municipality that shares municipal executive and legislative authority in its area with a district municipality within whose area it falls, and which is described in section 155(1) of the Constitution as a category B municipality;

  • EAR means the Export Administration Regulations.