SIFT Rules means the provisions of the Income Tax Act providing for a tax on certain income earned by a “SIFT trust” or “SIFT partnership” as those terms are defined in the Income Tax Act.
Examples of SIFT Rules in a sentence
Provided that the Units are not listed or traded on a stock exchange or other “public market”, as defined in the Tax Act, the Fund will not be subject to the SIFT Rules.
More Definitions of SIFT Rules
SIFT Rules means the amendments to the Tax Act proclaimed in force on June 22, 2007, as amended, that implement the changes announced as part of the Tax Fairness Plan proposed by the Minister of Finance (Canada) on October 31, 2006 which modify the tax treatment of SIFTs and the tax treatment of their unitholders;
SIFT Rules means the rules applicable to “SIFT trusts” and “SIFT partnerships” (each as defined in the Tax Act) in the Tax Act.