Versions of s. 104(13.2)

I-3.3 — Income Tax Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2018-06-21 to present available View Source

Where a trust, in its return of income under this Part for a taxation year throughout which it was resident in Canada and not exempt from tax under Part I by reason of subsection 149(1), designates an amount in respect of a beneficiary under the trust, not exceeding the amount determined by the formula A/B × C where A is the amount designated by the trust for the year in respect of the beneficiary under subsection 104(21), B is the total of all amounts each of which has been designated for the year in respect of a beneficiary of the trust under subsection 104(21), and C is the amount determined by the trust and used in computing all amounts each of which is designated by the trust for the year under this subsection, not exceeding the amount by which the total of all amounts each of which is an amount that, but for this subsection or subsection 104(13.1), would be included in computing the income of a beneficiary under the trust by reason of subsection 104(13) or 105(2) for the year exceeds the amount deducted under subsection 104(6) in computing the income of the trust for the year,

Full text

Where a trust, in its return of income under this Part for a taxation year throughout which it was resident in Canada and not exempt from tax under Part I by reason of subsection 149(1), designates an amount in respect of a beneficiary under the trust, not exceeding the amount determined by the formula A/B × C where A is the amount designated by the trust for the year in respect of the beneficiary under subsection 104(21), B is the total of all amounts each of which has been designated for the year in respect of a beneficiary of the trust under subsection 104(21), and C is the amount determined by the trust and used in computing all amounts each of which is designated by the trust for the year under this subsection, not exceeding the amount by which the total of all amounts each of which is an amount that, but for this subsection or subsection 104(13.1), would be included in computing the income of a beneficiary under the trust by reason of subsection 104(13) or 105(2) for the year exceeds the amount deducted under subsection 104(6) in computing the income of the trust for the year,
2004-08-31 to 2018-06-21 View Source

Where a trust, in its return of income under this Part for a taxation year throughout which it was resident in Canada and not exempt from tax under Part I by reason of subsection 149(1), designates an amount in respect of a beneficiary under the trust, not exceeding the amount determined by the formula A/B × C where A is the amount designated by the trust for the year in respect of the beneficiary under subsection 104(21), B is the total of all amounts each of which has been designated for the year in respect of a beneficiary of the trust under subsection 104(21), and C is the amount determined by the trust and used in computing all amounts each of which is designated by the trust for the year under this subsection, not exceeding the amount by which the total of all amounts each of which is an amount that, but for this subsection or subsection 104(13.1), would be included in computing the income of a beneficiary under the trust by reason of subsection 104(13) or 105(2) for the year exceeds the amount deducted under subsection 104(6) in computing the income of the trust for the year,