Specified Investment Flow-Through Partnership (SIFT Partnership)

A partnership is a specified investment flow-through partnership (SIFT partnership) for a given taxation year if it meets the following conditions:

  • It is resident in Canada.
  • The investments in the partnership are listed or traded on a stock exchange or other public market.
  • It holds non-portfolio property.
  • A Canadian resident partnership is a partnership of which all of the members are resident in Canada, a partnership formed under the laws of a province or, in the case of a partnership that has its central management and control in Canada, a partnership that would be considered resident in Canada if it were a corporation.
  • “Excluded subsidiary entity” means, for a given taxation year, an entity of which the equity (shares of its capital stock, where the entity is a corporation; income or capital interests, where the entity is a trust; or interests held by its members, where the entity is a partnership) or equity-like liabilities:
    • are not listed or traded on a stock exchange or other public market at any time during the year;
    • are held exclusively by
      • a real estate investment trust (REIT),
      • a taxable Canadian corporation,
      • a specified investment flow-through trust (SIFT trust),
      • a SIFT partnership,
      • a person or partnership that, with respect to the holding of a security of the entity, does not own any property whose value is based on a security listed on a stock exchange or traded on another public market, or
      • any other excluded subsidiary entity for the taxation year.
End of note

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