PART I — Income Tax · DIVISION I — Returns, Assessments, Payment and Appeals · Electronic Payments

Definitions

Not yet annotated · Text current to 2026-06-21 · section last amended 2024-01-01

Current text

The following definitions apply in this section.

designated financial institution has the same meaning as in subsection 153(6). (institution financière désignée)

electronic payment means any payment or remittance to the Receiver General that is made through electronic services offered by a designated financial institution or by any electronic means specified by the Minister. (paiement électronique)

Requirement – electronic payments

(2)

The remittance or payment of an amount to the Receiver General must be made as an electronic payment if the amount of the remittance or payment exceeds $10,000, unless the payor or remitter cannot reasonably remit or pay the amount in that manner.

Source: Justice Laws Website. Not an official version.

Historic text

This section has not been amended since it was enacted (2023, c. 26, s. 52), so there is no earlier version.

Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 160.5 links to the one before it.

Enacting and amending legislation

2023, c. 26, s. 52

Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.

Cross-references

This section refers to

s. 153

Referred to in

s. 162

References are generated from the statutory text and list other sections of the Act only.

Citation

Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 160.5.