I-3, r. 1 - Regulation respecting the Taxation Act

Section 1086r57.3 Disposition versions

2021-12-31

1086R57.3. A trust resident in Canada outside Québec during a taxation year, other than an excluded trust in respect of the year, and that, at any time in the year, is the owner of a specified immovable or a member of a partnership that is the owner of a specified immovable must file for that year an information return in prescribed form.

The information return must be filed within 90 days after the end of the taxation year.

For the purposes of the first paragraph,

(a)  “excluded trust” in respect of a taxation year means

i.  a succession that is a graduated rate estate,

ii.  (subparagraph revoked);

iii.  (subparagraph revoked);

iv.  a unit trust,

v.  an insurance segregated fund trust,

vi.  a mutual fund trust,

vii.  a specified investment flow-through trust, and

viii.  a trust exempt from tax payable;

(b)  “specified immovable” has the meaning assigned by section 1129.77 of the Act; and

(c)  each member of a partnership, at any time, is deemed to be a member of another partnership of which the first partnership is a member at that time.

O.C. 229-2014, s. 17; O.C. 1448-2021, s. 7.

2014-03-19

1086R57.3. A trust resident in Canada outside Québec during a taxation year, other than an excluded trust in respect of the year, and that, at any time in the year, is the owner of a specified immovable or a member of a partnership that is the owner of a specified immovable must file for that year an information return in prescribed form.

The information return must be filed within 90 days after the end of the taxation year.

For the purposes of the first paragraph,

(a)  “excluded trust” in respect of a taxation year means

i.  a succession,

ii.  a testamentary trust resident in Québec on the last day of the year and that owns property the aggregate of the cost amounts of which is, throughout the year, less than $1,000.000,

iii.  a testamentary trust not resident in Québec on the last day of the year and that owns property situated in Québec the aggregate of the cost amounts of which is, throughout the year, less than $1,000.000,

iv.  a unit trust,

v.  an insurance segregated fund trust,

vi.  a mutual fund trust,

vii.  a specified investment flow-through trust, and

viii.  a trust exempt from tax payable;

(b)  “specified immovable” has the meaning assigned by section 1129.77 of the Act; and

(c)  each member of a partnership, at any time, is deemed to be a member of another partnership of which the first partnership is a member at that time.

O.C. 229-2014, s. 17.