I-3 - Taxation Act

Section 752.0.10.4.3 Disposition versions

2006-03-01

752.0.10.4.3. The percentage to which section 752.0.10.4.2 refers, in respect of a recognized gift with reserve of usufruct or use is

(a)  where the usufruct or right of use is established for the lifetime of the individual who made the gift,

i.  25% where the individual is under 25 years of age,

ii.  31% where the individual is at least 25 years of age and under 30 years of age,

iii.  38% where the individual is at least 30 years of age and under 35 years of age,

iv.  44% where the individual is at least 35 years of age and under 40 years of age,

v.  50% where the individual is at least 40 years of age and under 45 years of age,

vi.  56% where the individual is at least 45 years of age and under 50 years of age,

vii.  62% where the individual is at least 50 years of age and under 55 years of age,

viii.  68% where the individual is at least 55 years of age and under 60 years of age,

ix.  73% where the individual is at least 60 years of age and under 65 years of age,

x.  78% where the individual is at least 65 years of age and under 70 years of age,

xi.  83% where the individual is at least 70 years of age and under 75 years of age,

xii.  87% where the individual is at least 75 years of age and under 80 years of age, and

xiii.  91% where the individual is at least 80 years of age; and

(b)  where the usufruct or right of use is established for a fixed duration regardless of the lifetime of the individual who made the gift,

i.  87% where the fixed duration is of 10 years or less,

ii.  74% where the fixed duration is of 10 years or more and 20 years or less, and

iii.   61% in any other case.

2003, c. 9, s. 80.