SIFT Tax definition

SIFT Tax means the tax payable by a SIFT Trust pursuant to section 122 of the Tax Act or by a SIFT partnership pursuant to section 197 of the Tax Act;
Sample 1Sample 2Sample 3
SIFT Tax means the specified investment flow-through tax enacted by the Federal Government of Canada in 2007, which is an entity level tax that Canadian publicly listed income trusts are required to pay.
Sample 1Sample 2Sample 3
SIFT Tax means an entity level tax imposed on Canadian publicly traded income trusts under the Tax Act.
Sample 1Sample 2Sample 3

Examples of SIFT Tax in a sentence

  • Chemtrade Distributions Not Subject to SIFT Tax Any amount paid or credited by Chemtrade to a Non‐Resident Holder out of the income of Chemtrade (other than income that has been subject to SIFT tax) will be subject to Canadian non‐resident withholding tax at a rate of 25% as a trust distribution.

  • Chemtrade Distributions Subject to SIFT Tax As stated in its Short Form Prospectus, dated January 26th, 2014, which can be found at www.sedar.com, Chemtrade is a specified investment flow through (“SIFT”) trust for Canadian income tax purposes.

  • There is a risk that the federal government of Canada could increase the base rate of SIFT Tax or that applicable taxation authorities could assess the Fund on the basis that certain expenses of the Fund are not deductible.

  • Current income tax expense in respect of any period is prepared using reasonable and supportable assumptions (including that the base rate of SIFT Tax will not increase throughout the calendar year and that certain expenses of the Fund will continue to be deductible for income tax purposes), all of which reflect the Fund’s planned courses of action given management’s judgment about the most probable set of economic conditions.

  • Notwithstanding anything else contained in this Declaration of Trust, the Trust shall not make any investment, take any action or omit to take any action that would result in the Trust failing or ceasing to qualify as a “mutual fund trust” within the meaning of the Tax Act and the Trust shall use its reasonable efforts not to be liable for SIFT Tax at any time, provided it is in the best interests of Unitholders as determined by the Trustees, acting reasonably.

  • Please review notice and CA Web comments to read the type of payment provided by the issuer prior to submitting instructions.1. Chemtrade Distribution Not Subject to SIFT Tax | Canadian Source Chemtrade payments have been characterized as a distribution not subject to SIFT tax.

  • BACKGROUND TO AND REASONS FOR THE ARRANGEMENT Background to the Arrangement On October 31, 2006, the Canadian Minister of Finance (the "Minister") announced the Canadian federal government's plan to change the tax treatment of certain publicly traded income and royalty trusts, including the Fund (the "SIFT Tax").

  • On February 26, 2008, the Minister of Finance announced (the "Provincial SIFT Tax Proposal") that instead of basing the provincial component of the tax on a flat rate of 13 percent, the provincial component will instead be based on the general provincial corporate income tax rate in each province in which PET has a permanent establishment.

  • As a result of the SIFT Tax, the Fund commenced paying tax on January 1, 2011, at a rate approximately equal to the rate applicable to income earned by a Canadian public corporation and is prevented from deducting trust distributions when calculating taxable income.

  • Now enacted, the SIFT Tax imposes a tax at the trust level on distributions of certain income from publicly traded mutual fund trusts (as defined in the Tax Act), like the Fund, at rates of tax comparable to the combined federal and provincial corporate tax rate, and treats distributions of such income as dividends to Unitholders.


More Definitions of SIFT Tax

SIFT Tax means the tax payable pursuant to the SIFT Measures by a “SIFT trust” and/or a “SIFT partnership”, each as defined in the Tax Act;
Sample 1Sample 2
SIFT Tax means the specified investment flow-through trust tax which is an entity-level tax that Canadian publicly traded income trusts are required to pay effective January 1, 2011.
Sample 1Sample 2
SIFT Tax means tax imposed under the Tax Act on specified investment flow-through entities;
Sample 1

Related to SIFT Tax

  • input tax , in relation to a vendor, means—

  • Relevant Tax means any present or future taxes, duties, assessments or governmental charges of whatever nature, imposed or levied by or on behalf of any Relevant Jurisdiction or any authority therein or thereof having the power to tax.

  • Use tax means a nonrecurring tax, other than a sales tax, which (a) is imposed on or with respect to the exercise or enjoyment of any right or power over tangible personal property incident to the ownership, possession or custody of that property or the leasing of that property from another including any consumption, keeping, retention, or other use of tangible personal property and (b) is complementary to a sales tax.

  • Other Tax means any Federal Other Tax, State Other Tax, or Foreign Other Tax.

  • Input Tax Credit means the credit of input tax;

  • State Income Tax means any Tax imposed by any State of the United States (or by any political subdivision of any such State) or the District of Columbia, or any city or municipality located therein, which is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Relevant Tax Authority means HMRC, or, if applicable, the tax authority in the jurisdiction in which the Supplier is established;

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • central tax means the central goods and services tax levied under section 9 of the Central Goods and Services Tax Act;

  • foreign tax means any Foreign Income Taxes or Foreign Other Taxes.

  • FATCA Withholding Tax means any U.S. federal withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code.

  • Income Tax means any federal, state, local, or foreign income tax, including any interest, penalty, or addition thereto, whether disputed or not.

  • State tax means any State Income Taxes or State Other Taxes.

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Asset Taxes means all ad valorem, property, excise, severance, production or similar Taxes (including any interest, fine, penalty or addition to Tax imposed by a taxing authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom but excluding, for the avoidance of doubt, (a) income, capital gains, franchise and similar Taxes and (b) Transfer Taxes.

  • Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

  • Transfer Tax means all transfer, documentary, sales, use, stamp, registration, value added and other such Taxes and fees (including any penalties and interest) incurred in connection with the transactions contemplated under this Agreement.

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • MUNICIPAL TAXABLE INCOME means the following:

  • municipal tax means property rates or other taxes, levies or duties that a municipality may impose;

  • Employment Tax means any Tax the liability or responsibility for which is allocated pursuant to the Employee Matters Agreement.

  • Excise Tax means any excise tax imposed under section 4999 of the Code.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Withholding Tax means any tax, deduction, levy or similar payment obligation that is required to be deducted or withheld from a payment under Applicable Law.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Sales Tax means all applicable provincial and federal sales, use, value-added or goods and services taxes, including GST/HST;