Income Tax Act

Marginal note:Charging provision

• 211.6 (1) Every trust that is a qualifying environmental trust at the end of a taxation year shall pay a tax under this Part for the year equal to 28% of its income under Part I for the year.

• Marginal note:Computation of income

  (2) For the purpose of subsection 211.6(1), the income under Part I of a qualifying environmental trust shall be computed as if this Act were read without reference to subsections 104(4) to 104(31) and sections 105 to 107.

• Marginal note:Return

  (3) Every trust that is a qualifying environmental trust at the end of a taxation year shall file with the Minister on or before its filing-due date for the year a return for the year under this Part in prescribed form containing an estimate of the amount of its tax payable under this Part for the year.

• Marginal note:Payment of tax

  (4) Every trust shall pay to the Receiver General its tax payable under this Part for each taxation year on or before its balance-due day for the year.

• Marginal note:Provisions applicable to Part

  (5) Subsections 150(2) and 150(3), sections 152, 158 and 159, subsections 161(1) and 161(11), sections 162 to 167 and Division J of Part I apply to this Part, with such modifications as the circumstances require.