Versions of s. 146(5.2)

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.

2017-12-14 to present available View Source

If a taxpayer’s entitlement to benefits under a defined benefit provision of a registered pension plan is transferred in accordance with subsection 147.3(4) after February 2009 and before 2011, there may be deducted in computing the taxpayer’s income for a taxation year that ends on or after the day on which the transfer was made, the amount claimed by the taxpayer in respect of premiums paid by the taxpayer in the year to a registered retirement savings plan under which the taxpayer is the annuitant, not exceeding the amount, if any, determined by the formula A – B – C where A is the amount, if any, that is the lesser of the prescribed amount that would have been determined for the purpose of paragraph 147.3(4)(c) if subsection 8517(3.01) of the Regulations had applied in respect of the transfer, and the amount of the taxpayer’s entitlement to benefits under the provision commuted in connection with the transfer; B is the prescribed amount for the purpose of paragraph 147.3(4)(c) that applied in respect of the transfer; and C is the total of all amounts deducted by the taxpayer under this subsection for a preceding taxation year.

Full text

If a taxpayer’s entitlement to benefits under a defined benefit provision of a registered pension plan is transferred in accordance with subsection 147.3(4) after February 2009 and before 2011, there may be deducted in computing the taxpayer’s income for a taxation year that ends on or after the day on which the transfer was made, the amount claimed by the taxpayer in respect of premiums paid by the taxpayer in the year to a registered retirement savings plan under which the taxpayer is the annuitant, not exceeding the amount, if any, determined by the formula A – B – C where A is the amount, if any, that is the lesser of the prescribed amount that would have been determined for the purpose of paragraph 147.3(4)(c) if subsection 8517(3.01) of the Regulations had applied in respect of the transfer, and the amount of the taxpayer’s entitlement to benefits under the provision commuted in connection with the transfer; B is the prescribed amount for the purpose of paragraph 147.3(4)(c) that applied in respect of the transfer; and C is the total of all amounts deducted by the taxpayer under this subsection for a preceding taxation year.
2011-12-15 to 2017-12-14 View Source

If a taxpayer’s entitlement to benefits under a defined benefit provision of a registered pension plan is transferred in accordance with subsection 147.3(4) after February 2009 and before 2011, there may be deducted in computing the taxpayer’s income for a taxation year that ends on or after the day on which the transfer was made, the amount claimed by the taxpayer in respect of premiums paid by the taxpayer in the year to a registered retirement savings plan under which the taxpayer is the annuitant, not exceeding the amount, if any, determined by the formula A – B – C where A is the amount, if any, that is the lesser of the prescribed amount that would have been determined for the purpose of paragraph 147.3(4)(c) if subsection 8517(3.01) of the Regulations had applied in respect of the transfer, and the amount of the taxpayer’s entitlement to benefits under the provision commuted in connection with the transfer; B is the prescribed amount for the purpose of paragraph 147.3(4)(c) that applied in respect of the transfer; and C is the total of all amounts deducted by the taxpayer under this subsection for a preceding taxation year.