Hyperlawhypertext legal database Income Tax Act

← Historical versions

Versions of s. 142.2(4)(b)

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.

  1. 2013-12-12 to present available View Source
    a trust (other than a trust in respect of which any amount of the income or capital of the trust that any entity may receive directly from the trust at any time as a beneficiary under the trust depends on the exercise by any entity of, or the failure by any entity to exercise, a discretionary power) were a corporation having capital stock of a single class divided into 100 issued shares and each beneficiary under the trust owned, at the particular time, that proportion of the issued shares of that class that
    Full text

    a trust (other than a trust in respect of which any amount of the income or capital of the trust that any entity may receive directly from the trust at any time as a beneficiary under the trust depends on the exercise by any entity of, or the failure by any entity to exercise, a discretionary power) were a corporation having capital stock of a single class divided into 100 issued shares and each beneficiary under the trust owned, at the particular time, that proportion of the issued shares of that class that

  2. 2009-03-12 to 2013-12-12 View Source
    subjecta trust (other than a trust in respect of which any amount of the income or capital of the trust that any entity may receive directly from the trust at any time as a beneficiary under the trust depends on the exercise by any entity of, or the failure by any entity to paragraphexercise, 142.2(4)(c),a alldiscretionary decisionspower) relatingwere toa thecorporation conducthaving capital stock of a single class divided into 100 issued shares and each beneficiary under the trust wereowned, madeat bythe majorityparticular votetime, that proportion of the beneficiariesissued shares of thethat trust, with each beneficiary having, at any time, a number of votes equal to the number determined by the formula 100 × A/B where A is the fair market value atclass that time of the beneficiary’s beneficial interest in the trust, and B is the total of all amounts each of which is the fair market value at that time of a beneficial interest in the trust; and
    Full text

    a trust (other than a trust in respect of which any amount of the income or capital of the trust that any entity may receive directly from the trust at any time as a beneficiary under the trust depends on the exercise by any entity of, or the failure by any entity to exercise, a discretionary power) were a corporation having capital stock of a single class divided into 100 issued shares and each beneficiary under the trust owned, at the particular time, that proportion of the issued shares of that class that

  3. 2004-08-31 to 2009-03-12 View Source

    subject to paragraph 142.2(4)(c), all decisions relating to the conduct of a trust were made by majority vote of the beneficiaries of the trust, with each beneficiary having, at any time, a number of votes equal to the number determined by the formula 100 × A/B where A is the fair market value at that time of the beneficiary’s beneficial interest in the trust, and B is the total of all amounts each of which is the fair market value at that time of a beneficial interest in the trust; and