I-3 - Taxation Act

Section 961.17.0.1 Disposition versions

2006-03-01

961.17.0.1. Where, at any time in a taxation year, a particular amount in respect of a registered retirement income fund that is a spousal plan, within the meaning of paragraph f of section 905.1, in relation to an individual is required to be included in computing the income of the individual’s spouse and the individual is not an individual who is living apart from his spouse at that time because of the breakdown of their marriage, the individual shall include, at that time, in computing his income for the year, the least of the following amounts:

(a)  the aggregate of all amounts each of which is a premium, within the meaning of paragraph e of section 905.1, paid by him in the year or in one of the two immediately preceding taxation years to a registered retirement savings plan under which his spouse was the annuitant, within the meaning of paragraph b of section 905.1, at the time the premium was paid,

(b)  the particular amount, and

(c)  the amount by which the aggregate of all amounts each of which is an amount in respect of the fund that is required, in the year and at or before that time, to be included in computing the income of the individual’s spouse exceeds the minimum amount under the fund for the year.

1988, c. 18, s. 105; 1991, c. 25, s. 149; 1995, c. 1, s. 96.