Federal-Provincial Fiscal Arrangements Act

Marginal note:Definition of capital tax

9 In this Part, capital tax means a tax that is imposed on one or more of the following:

• (a) an element of shareholders’ equity in a corporation such as share capital or retained earnings;

• (b) a form of long-term indebtedness owed by a corporation; or

• (c) any other element of capital that the Minister considers appropriate.

It does not include

• (d) a tax imposed under Part VI.1 of the Taxation Act, R.S.Q., c. I-3;

• (e) a tax imposed under section 74.1 of the Corporations Tax Act, R.S.O. 1990, c. C-40; or

• (f) any tax that the Minister does not consider to be sufficiently similar to a tax imposed under Part I.3 or VI of the Income Tax Act.