I-3 - Taxation Act

Section 597.0.1 Disposition versions

2015-12-04

597.0.1. A trust is deemed to cease to be resident in Canada at the earliest time at which the trust becomes an exempt foreign trust in a particular taxation year (determined without reference to section 785.2) of the trust if

(a)  the particular taxation year immediately follows a taxation year throughout which the trust was deemed under section 595 to be resident in Canada for the purpose of computing its income; and

(b)  at a specified time in the particular taxation year,

i.  there is a resident contributor to the trust or a resident beneficiary under the trust, and

ii.  the trust is an exempt foreign trust.

2015, c. 36, s. 29.