Versions of s. 132(4), definition “capital gains redemptions”

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.

2016-12-15 to present available View Source

capital gains redemptions of a mutual fund trust for a taxation year means the amount determined by the formula(A/B × (C + D)) - E where A is the total of all amounts each of which is the portion of an amount paid by the trust in the year on the redemption of a unit in the trust that is included in the proceeds of disposition in respect of that redemption, B is the total of the fair market value at the end of the year of all the issued units of the trust and the amount determined for A in respect of the trust for the year, C is ~~100/14.5~~100/16.5 of the trust’s refundable capital gains tax on hand at the end of the year, D is the amount determined by the formula(K + L) - (M + N) where K is the amount of the fair market value at the end of the year of all the issued units of the trust, L is the total of all amounts each of which is the amount of any debt owing by the trust, or of any other obligation of the trust to pay an amount, that was outstanding at that time, M is the total of the cost amounts to the trust at that time of all its properties, and N is the amount of any money of the trust on hand at that time, and E is twice the total of all amounts each of which is an amount designated under subsection 104(21) for the year by the trust in respect of a unit of the trust redeemed by the trust at any time in the year and after December 21, 2000; (rachats au titre des gains en capital)

Full text

capital gains redemptions of a mutual fund trust for a taxation year means the amount determined by the formula(A/B × (C + D)) - E where A is the total of all amounts each of which is the portion of an amount paid by the trust in the year on the redemption of a unit in the trust that is included in the proceeds of disposition in respect of that redemption, B is the total of the fair market value at the end of the year of all the issued units of the trust and the amount determined for A in respect of the trust for the year, C is 100/16.5 of the trust’s refundable capital gains tax on hand at the end of the year, D is the amount determined by the formula(K + L) - (M + N) where K is the amount of the fair market value at the end of the year of all the issued units of the trust, L is the total of all amounts each of which is the amount of any debt owing by the trust, or of any other obligation of the trust to pay an amount, that was outstanding at that time, M is the total of the cost amounts to the trust at that time of all its properties, and N is the amount of any money of the trust on hand at that time, and E is twice the total of all amounts each of which is an amount designated under subsection 104(21) for the year by the trust in respect of a unit of the trust redeemed by the trust at any time in the year and after December 21, 2000; (rachats au titre des gains en capital)
2004-08-31 to 2016-12-15 View Source

capital gains redemptions of a mutual fund trust for a taxation year means the amount determined by the formula(A/B × (C + D)) - E where A is the total of all amounts each of which is the portion of an amount paid by the trust in the year on the redemption of a unit in the trust that is included in the proceeds of disposition in respect of that redemption, B is the total of the fair market value at the end of the year of all the issued units of the trust and the amount determined for A in respect of the trust for the year, C is 100/14.5 of the trust’s refundable capital gains tax on hand at the end of the year, D is the amount determined by the formula(K + L) - (M + N) where K is the amount of the fair market value at the end of the year of all the issued units of the trust, L is the total of all amounts each of which is the amount of any debt owing by the trust, or of any other obligation of the trust to pay an amount, that was outstanding at that time, M is the total of the cost amounts to the trust at that time of all its properties, and N is the amount of any money of the trust on hand at that time, and E is twice the total of all amounts each of which is an amount designated under subsection 104(21) for the year by the trust in respect of a unit of the trust redeemed by the trust at any time in the year and after December 21, 2000;