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;
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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.
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SIFT Tax means an entity level tax imposed on Canadian publicly traded income trusts under the Tax Act.
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Examples of SIFT Tax in a sentence

  • 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.

  • 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.

  • 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.

  • 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.

  • 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").

  • Chemtrade Distributions Not Subject to SIFT Tax Non‐Canadian Source.

  • Throughout 2008, 2009 and 2010, management of Enerplus continued to evaluate and develop its business plan and strategy, including the anticipated impact of the application of the SIFT Tax to the Fund on January 1, 2011.

  • ATTACHMENT B- BID SUBMISSION ACKNOWLEDGMENT This proposal is binding upon the undersigned for 90 days after the Bid Submittal Deadline.

  • 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.


More Definitions of SIFT Tax

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.
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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;
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SIFT Tax means tax imposed under the Tax Act on specified investment flow-through entities;
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Related to SIFT 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.

  • Input Tax Credit means the credit of input tax;

  • 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.

  • FATCA Withholding Tax means any withholding or deduction required pursuant to FATCA.

  • Income Tax means any federal, state, local or foreign Tax (a) based upon, measured by or calculated with respect to net income, profits or receipts (including, without limitation, capital gains Taxes and minimum Taxes) or (b) based upon, measured by or calculated with respect to multiple bases (including, without limitation, corporate franchise taxes) if one or more of the bases on which such Tax may be based, measured by or calculated with respect to, is described in clause (a), in each case together with any interest, penalties, or additions to such Tax.

  • Tax means any present or future tax, levy, impost, duty, charge, assessment or fee of any nature (including interest, penalties and additions thereto) that is imposed by any government or other taxing authority in respect of any payment under this Agreement other than a stamp, registration, documentation or similar tax.

  • MUNICIPAL TAXABLE INCOME means the following:

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

  • Excise Tax means the excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax.

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