Tax wiki
s. 207.31
PART XI.2 — Tax in Respect of Dispositions of Certain Properties
Ecological gift — tax payable
Not yet annotated · Text current to 2026-06-21 · section last amended 2017-12-14
Current text
A charity, municipality in Canada or municipal or public body performing a function of government in Canada (each of which is referred to in this section as the “recipient”) shall, in respect of a property, pay a tax under this Part in respect of a taxation year if
at any time in the year, the recipient
disposes of the property, or
in the opinion of the Minister of the Environment, or a person designated by that Minister, changes the use of the property;
the property is described in paragraph 110.1(1)(d) or in the definition total ecological gifts in subsection 118.1(1); and
the disposition or change is made without the authorization of the Minister of the Environment or a person designated by that Minister.
Ecological gift — amount of tax
(2)The amount of tax to be paid under subsection (1) is equal to 50% of the amount that would be determined for the purposes of section 110.1 or 118.1, if this Act were read without reference to subsections 110.1(3) and 118.1(6), to be the fair market value of the property referred to in subsection (1) if the property were given to the recipient immediately before the disposition or change referred to in paragraph (1)(a).
Source: Justice Laws Website. Not an official version.
Historic text
Immediately preceding version, in force from 2013-06-26 to 2017-12-13:
Show the text in force 2013-06-26 to 2017-12-13
Tax payable by recipient of an ecological gift
207.31 Any charity, municipality in Canada or municipal or public body performing a function of government in Canada (referred to in this section as the “recipient”) that at any time in a taxation year, without the authorization of the Minister of the Environment or a person designated by that Minister, disposes of or changes the use of a property described in paragraph 110.1(1)(d) or in the definition total ecological gifts in subsection 118.1(1) and given to the recipient shall, in respect of the year, pay a tax under this Part equal to 50% of the amount that would be determined for the purposes of section 110.1 or 118.1, if this Act were read without reference to subsections 110.1(3) and 118.1(6), to be the fair market value of the property if the property were given to the recipient immediately before the disposition or change.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- 1996, c. 21, s. 53
- 2001, c. 17, s. 170
- 2013, c. 34, s. 340
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 207.31 links to the one before it.
Enacting and amending legislation
- 1996, c. 21, s. 53; 2001, c. 17, s. 170; 2013, c. 34, s. 340; 2017, c. 33, s. 73
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
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 207.31.