I-3 - Taxation Act

Section 317 Disposition versions

2015-10-21

317. A taxpayer shall include any amount received by him as a pension benefit, including

(a)  the amount of any pension, supplement or allowance under the Old Age Security Act (R.S.C. 1985, c. O-9) and the amount of any similar payment under a law of a province;

(b)  the amount of any benefit under the Act respecting the Québec Pension Plan (chapter R-9) and the amount of any similar plan within the meaning of paragraph u of section 1 of that Act;

(c)  the amount of any payment out of or under a specified pension plan; and

(d)  the amount of any payment out of or under a foreign retirement arrangement established under the laws of a country, except to the extent that the amount would not, if the taxpayer were resident in the country, be subject to the income taxation in the country.

However, the amounts described in the first paragraph do not include

(a)  the portion of an amount received by the taxpayer out of or under an employee benefit plan that is required by section 47.1 to be included in computing the taxpayer’s income, or would be required to be so included if section 47.2 were construed without reference to the words “a return of amounts contributed to the plan by him or a deceased employee of whom he is a legatee by particular title or legal representative”;

(b)  the portion of an amount received out of or under a retirement compensation arrangement that is required by section 313.5, where it refers to an amount provided for in paragraph a or c of section 890.9, to be included in computing the taxpayer’s income;

(c)  an amount received as a death benefit paid, after 9 May 1996, in accordance with section 168 of the Act respecting the Québec Pension Plan or a similar provision of any similar plan within the meaning of paragraph u of section 1 of that Act; or

(d)  an amount received by the taxpayer out of or under a registered pension plan as a return of all or a portion of a contribution to the plan, to the extent that the amount

i.  is a payment made to the taxpayer under subsection 19 of section 147.1 of the Income Tax Act (R.S.C. 1985, c. 1, (5th Suppl.)) or under subparagraph iii of paragraph d of section 8502 of the Income Tax Regulations made under that Act, and

ii.  is not deducted in computing the taxpayer’s income for the year or a preceding taxation year.

1972, c. 23, s. 291; 1975, c. 22, s. 58; 1978, c. 26, s. 50; 1982, c. 5, s. 70; 1984, c. 15, s. 75; 1985, c. 25, s. 56; 1989, c. 77, s. 30; 1993, c. 16, s. 133; 1997, c. 14, s. 59; 2000, c. 5, s. 293; 2001, c. 53, s. 56; 2013, c. 10, s. 25; 2015, c. 21, s. 160.

2013-06-05

317. A taxpayer shall include any amount received by him as a pension benefit, including

(a)  the amount of any pension, supplement or allowance under the Old Age Security Act (R.S.C. 1985, c. O-9) and the amount of any similar payment under a law of a province;

(b)  the amount of any benefit under the Act respecting the Québec Pension Plan (chapter R-9) and the amount of any similar plan within the meaning of paragraph u of section 1 of that Act;

(c)  the amount of any payment out of or under a specified pension plan; and

(d)  the amount of any payment out of or under a foreign retirement arrangement established under the laws of a country, except to the extent that the amount would not, if the taxpayer were resident in the country, be subject to the income taxation in the country.

However, the amounts described in the first paragraph do not include

(a)  the portion of an amount received by the taxpayer out of or under an employee benefit plan that is required by section 47.1 to be included in computing the taxpayer’s income, or would be required to be so included if section 47.2 were construed without reference to the words “a return of amounts contributed to the plan by him or a deceased employee of whom he is a legatee by particular title or legal representative”;

(b)  the portion of an amount received out of or under a retirement compensation arrangement that is required by section 313.5, where it refers to an amount provided for in paragraph a or c of section 890.9, to be included in computing the taxpayer’s income; or

(c)  an amount received as a death benefit paid, after 9 May 1996, in accordance with section 168 of the Act respecting the Québec Pension Plan or a similar provision of any similar plan within the meaning of paragraph u of section 1 of that Act.

1972, c. 23, s. 291; 1975, c. 22, s. 58; 1978, c. 26, s. 50; 1982, c. 5, s. 70; 1984, c. 15, s. 75; 1985, c. 25, s. 56; 1989, c. 77, s. 30; 1993, c. 16, s. 133; 1997, c. 14, s. 59; 2000, c. 5, s. 293; 2001, c. 53, s. 56; 2013, c. 10, s. 25.

2006-03-01

317. A taxpayer shall include any amount received by him as a pension benefit, including

(a)  the amount of any pension, supplement or allowance under the Old Age Security Act (Revised Statutes of Canada, 1985, chapter O-9) and the amount of any similar payment under a law of a province;

(b)  the amount of any benefit under the Act respecting the Québec Pension Plan (chapter R-9) and the amount of any similar plan within the meaning of paragraph u of section 1 of that Act;

(c)  the amount of any payment out of or under a prescribed provincial pension plan; and

(d)  the amount of any payment out of or under a foreign retirement arrangement established under the laws of a country, except to the extent that the amount would not, if the taxpayer were resident in the country, be subject to the income taxation in the country.

However, the amounts described in the first paragraph do not include

(a)  the portion of an amount received by the taxpayer out of or under an employee benefit plan that is required by section 47.1 to be included in computing the taxpayer’s income, or would be required to be so included if section 47.2 were construed without reference to the words “a return of amounts contributed to the plan by him or a deceased employee of whom he is a legatee by particular title or legal representative”;

(b)  the portion of an amount received out of or under a retirement compensation arrangement that is required by section 313.5, where it refers to an amount provided for in paragraph a or c of section 890.9, to be included in computing the taxpayer’s income; or

(c)  an amount received as a death benefit paid, after 9 May 1996, in accordance with section 168 of the Act respecting the Québec Pension Plan or a similar provision of any similar plan within the meaning of paragraph u of section 1 of that Act.

1972, c. 23, s. 291; 1975, c. 22, s. 58; 1978, c. 26, s. 50; 1982, c. 5, s. 70; 1984, c. 15, s. 75; 1985, c. 25, s. 56; 1989, c. 77, s. 30; 1993, c. 16, s. 133; 1997, c. 14, s. 59; 2000, c. 5, s. 293; 2001, c. 53, s. 56.