Versions of s. 147.5(19)

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

There may be deducted in computing the income of a member of a PRPP for the taxation year in which the member dies, an amount not exceeding the amount determined, after all amounts payable from the member’s account under the PRPP have been distributed, by the formula A – B where A is the total of all amounts each of which is an amount in respect of the account included in the member’s income under subsection (13) because of the application of subsection (14), included in the income of another taxpayer under subsection (16) or (18), or transferred in accordance with subsection (21) in circumstances described in subparagraph (21)(b)(iii); and B is the total of all distributions made from the account after the member’s death.

Full text

There may be deducted in computing the income of a member of a PRPP for the taxation year in which the member dies, an amount not exceeding the amount determined, after all amounts payable from the member’s account under the PRPP have been distributed, by the formula A – B where A is the total of all amounts each of which is an amount in respect of the account included in the member’s income under subsection (13) because of the application of subsection (14), included in the income of another taxpayer under subsection (16) or (18), or transferred in accordance with subsection (21) in circumstances described in subparagraph (21)(b)(iii); and B is the total of all distributions made from the account after the member’s death.
2012-12-14 to 2017-12-14 View Source

There may be deducted in computing the income of a member of a PRPP for the taxation year in which the member dies, an amount not exceeding the amount determined, after all amounts payable from the member’s account under the PRPP have been distributed, by the formula A – B where A is the total of all amounts each of which is an amount in respect of the account included in the member’s income under subsection (13) because of the application of subsection (14), included in the income of another taxpayer under subsection (16) or (18), or transferred in accordance with subsection (21) in circumstances described in subparagraph (21)(b)(iii); and B is the total of all distributions made from the account after the member’s death.