Versions of s. 143(2)(a)

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.

2014-12-16 to present available View Source

for the purposes of subsections 104(6) and (13), the amount payable in the year to a particular participating member of the congregation out of the income of the trust (determined without reference to subsection 104(6)) is the amount determined by the formula 0.8 (A × B/C) + D + (0.2A - E)/F where A is the taxable income of the trust for the year (determined without reference to subsection 104(6) and specified future tax consequences for the year), B is where the particular member is identified in the election as a person to whom this subparagraph applies (in this subsection referred to as a “designated member”), 1, and in any other case, 0.5, C is the total of the number of designated members of the congregation, and 1/2 of the number of other participating members of the congregation in respect of the year, D is the amount, if any, that is specified in the election as an additional allocation under this subsection to the particular member, E is the total of all amounts each of which is an amount specified in the election as an additional allocation under this subsection to a participating member of the congregation in respect of the year, and F is the number of participating members of the congregation in respect of the year;

Full text

for the purposes of subsections 104(6) and (13), the amount payable in the year to a particular participating member of the congregation out of the income of the trust (determined without reference to subsection 104(6)) is the amount determined by the formula 0.8 (A × B/C) + D + (0.2A - E)/F where A is the taxable income of the trust for the year (determined without reference to subsection 104(6) and specified future tax consequences for the year), B is where the particular member is identified in the election as a person to whom this subparagraph applies (in this subsection referred to as a “designated member”), 1, and in any other case, 0.5, C is the total of the number of designated members of the congregation, and 1/2 of the number of other participating members of the congregation in respect of the year, D is the amount, if any, that is specified in the election as an additional allocation under this subsection to the particular member, E is the total of all amounts each of which is an amount specified in the election as an additional allocation under this subsection to a participating member of the congregation in respect of the year, and F is the number of participating members of the congregation in respect of the year;
2004-08-31 to 2014-12-16 View Source

for the purposes of subsections 104(6) and (13), the amount payable in the year to a particular participating member of the congregation out of the income of the trust (determined without reference to subsection 104(6)) is the amount determined by the formula 0.8 (A × B/C) + D + (0.2A - E)/F where A is the taxable income of the trust for the year (determined without reference to subsection 104(6) and specified future tax consequences for the year), B is where the particular member is identified in the election as a person to whom this subparagraph applies (in this subsection referred to as a “designated member”), 1, and in any other case, 0.5, C is the total of the number of designated members of the congregation, and 1/2 of the number of other participating members of the congregation in respect of the year, D is the amount, if any, that is specified in the election as an additional allocation under this subsection to the particular member, E is the total of all amounts each of which is an amount specified in the election as an additional allocation under this subsection to a participating member of the congregation in respect of the year, and F is the number of participating members of the congregation in respect of the year;