2026-03-26 to present
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If clause (21.2)(b)(ii)(C)(21.2)(b)(ii)(B) applies to deem, for the purposepurposes of section 110.6, the beneficiary under a trust to have a taxable capital gain (referred to in this subsection as the “QFFP“QSBC taxable capital gain”),gain”) from a disposition of capital property that is a qualified fishingsmall propertybusiness corporation share of the beneficiary, for the beneficiary’s taxation year that ends on or after June 25, 2024 and before 2025, and in which the designation year of the trust ends, for the purposepurposes of subsection 110.6(2.3),110.6(2.2), the beneficiary,beneficiary whereis, if the trust complies with the requirements of subsection (21.24), is deemed to have a taxable capital gain from the disposition of a qualified fishingsmall propertybusiness corporation share of the beneficiary on or after MarchJune 19,25, 20072024 and before 2025, equal to the amount determined by the formula A × B/C where A is the amount of the QFFPQSBC taxable capital gain; B is, whereif the designation year of the trust includesends Marchon 19,or 2007,after June 25, 2024 and before 2025, the amount that would be determined in respect of the trust for the designation year under paragraph 3(b) in respect of capital gains and capital losses if the only properties referred to in that paragraph 3(b) were qualified fishingsmall propertybusiness corporation shares of the trust (to the extent that the amount is not included in computing the amount designated under subsection (21.21)) that were disposed of by the trust on or after MarchJune 19,25, 2007;2024 and before 2025; and C is, whereif the designation year of the trust includesends Marchon 19,or 2007,after June 25, 2024 and before 2025, the amount that would be determined in respect of the trust for the designation year under paragraph 3(b) in respect of capital gains and capital losses if the only properties referred to in that paragraph 3(b) were qualified fishingsmall propertybusiness ofcorporation shares (to the trust.extent that the amount is not included in computing the amount designated under subsection (21.21)).
Full text
If clause (21.2)(b)(ii)(B) applies to deem, for the purposes of section 110.6, the beneficiary under a trust to have a taxable capital gain (referred to in this subsection as the “QSBC taxable capital gain”) from a disposition of capital property that is a qualified small business corporation share of the beneficiary, for the beneficiary’s taxation year that ends on or after June 25, 2024 and before 2025, and in which the designation year of the trust ends, for the purposes of subsection 110.6(2.2), the beneficiary is, if the trust complies with the requirements of subsection (21.24), deemed to have a taxable capital gain from the disposition of a qualified small business corporation share of the beneficiary on or after June 25, 2024 and before 2025, equal to the amount determined by the formula A × B/C where A is the amount of the QSBC taxable capital gain; B is, if the designation year of the trust ends on or after June 25, 2024 and before 2025, the amount that would be determined in respect of the trust for the designation year under paragraph 3(b) in respect of capital gains and capital losses if the only properties referred to in that paragraph were qualified small business corporation shares of the trust (to the extent that the amount is not included in computing the amount designated under subsection (21.21)) that were disposed of by the trust on or after June 25, 2024 and before 2025; and C is, if the designation year of the trust ends on or after June 25, 2024 and before 2025, the amount that would be determined in respect of the trust for the designation year under paragraph 3(b) in respect of capital gains and capital losses if the only properties referred to in that paragraph were qualified small business corporation shares (to the extent that the amount is not included in computing the amount designated under subsection (21.21)).
2007-12-14 to 2014-12-16
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If clause (21.2)(b)(ii)(C) applies to deem, for the purpose of section 110.6, the beneficiary to have a taxable capital gain (referred to in this subsection as the “QFFP taxable capital gain”), from a disposition of capital property that is qualified fishing property of the beneficiary, for the beneficiary’s taxation year in which the designation year of the trust ends, for the purpose of subsection 110.6(2.3), the beneficiary, where the trust complies with requirements of subsection (21.24), is deemed to have a taxable capital gain from the disposition of qualified fishing property on or after March 19, 2007 equal to the amount determined by the formula A × B/C where A is the amount of the QFFP taxable capital gain; B is, where the designation year of the trust includes March 19, 2007, the amount that would be determined in respect of the trust for the designation year under paragraph 3(b) in respect of capital gains and capital losses if the only properties referred to in paragraph 3(b) were qualified fishing property that were disposed of by the trust on or after March 19, 2007; and C is, where the designation year of the trust includes March 19, 2007, the amount that would be determined in respect of the trust for the designation year under paragraph 3(b) in respect of capital gains and capital losses if the only properties referred to in paragraph 3(b) were qualified fishing property of the trust.