PART X.3 — Labour-sponsored Venture Capital Corporations

Penalty

Not yet annotated · Text current to 2026-06-21 · section last amended 2004-08-31

Current text

Every corporation that for a taxation year issues an information return described in paragraph 204.81(6)(c) in respect of

(a)

the issuance of a share when the corporation was a revoked corporation, or

(b)

a subscription in respect of a share if the share is not issued on or before the day that is 180 days after the day the information return was issued,

is liable to a penalty for the year equal to the amount of the consideration for which the share was or was to be issued.

Source: Justice Laws Website. Not an official version.

Historic text

This section has not been amended since the start of the point-in-time record on 31 August 2004.

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 204.84 links to the one before it.

Enacting and amending legislation

1994, c. 7, Sch. II, s. 164

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. 204.81

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. 204.84.