Versions of s. 104(22.1)

I-3.3 — Income Tax Act · 3 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 taxpayer is a beneficiary under a trust, for the purposes of this subsection and section 126, the taxpayer shall be deemed to have paid as business-income tax or non-business-income tax, as the case may be, for a particular taxation year in respect of a source the amount determined by the formula A × B/C where A is the amount that, but for subsection 104(22.3), would be the business-income tax or non-business-income tax, as the case may be, paid by the trust in respect of the source for a taxation year (in this subsection referred to as “that year”) of the trust that ends in the particular year; B is the amount deemed, because of a designation under subsection 104(22) for that year by the trust, to be the taxpayer’s income from the source; and C is the trust’s income for that year from the source.

Full text

Where a taxpayer is a beneficiary under a trust, for the purposes of this subsection and section 126, the taxpayer shall be deemed to have paid as business-income tax or non-business-income tax, as the case may be, for a particular taxation year in respect of a source the amount determined by the formula A × B/C where A is the amount that, but for subsection 104(22.3), would be the business-income tax or non-business-income tax, as the case may be, paid by the trust in respect of the source for a taxation year (in this subsection referred to as “that year”) of the trust that ends in the particular year; B is the amount deemed, because of a designation under subsection 104(22) for that year by the trust, to be the taxpayer’s income from the source; and C is the trust’s income for that year from the source.
2007-12-14 to 2018-06-21 View Source

Where a taxpayer is a beneficiary under a trust, for the purposes of this subsection and section 126, the taxpayer shall be deemed to have paid as business-income tax or non-business-income tax, as the case may be, for a particular taxation year in respect of a source the amount determined by the formula A × B/C where A is the amount that, but for subsection 104(22.3), would be the business-income tax or non-business-income tax, as the case may be, paid by the trust in respect of the source for a taxation year (in this subsection referred to as ~~that~~“that ~~year)~~year”) of the trust that ends in the particular year; B is the amount deemed, because of a designation under subsection 104(22) for that year by the trust, to be the taxpayer’s income from the source; and C is the trust’s income for that year from the source.

Full text

Where a taxpayer is a beneficiary under a trust, for the purposes of this subsection and section 126, the taxpayer shall be deemed to have paid as business-income tax or non-business-income tax, as the case may be, for a particular taxation year in respect of a source the amount determined by the formula A × B/C where A is the amount that, but for subsection 104(22.3), would be the business-income tax or non-business-income tax, as the case may be, paid by the trust in respect of the source for a taxation year (in this subsection referred to as “that year”) of the trust that ends in the particular year; B is the amount deemed, because of a designation under subsection 104(22) for that year by the trust, to be the taxpayer’s income from the source; and C is the trust’s income for that year from the source.
2004-08-31 to 2007-12-14 View Source

Where a taxpayer is a beneficiary under a trust, for the purposes of this subsection and section 126, the taxpayer shall be deemed to have paid as business-income tax or non-business-income tax, as the case may be, for a particular taxation year in respect of a source the amount determined by the formula A × B/C where A is the amount that, but for subsection 104(22.3), would be the business-income tax or non-business-income tax, as the case may be, paid by the trust in respect of the source for a taxation year (in this subsection referred to as that year) of the trust that ends in the particular year; B is the amount deemed, because of a designation under subsection 104(22) for that year by the trust, to be the taxpayer’s income from the source; and C is the trust’s income for that year from the source.