I-3 - Taxation Act

Section 859 Disposition versions

2006-03-01

859. An employee who is a beneficiary under a profit sharing plan must include in computing his income for a taxation year each amount that is allocated to him, contingently or absolutely, by the trustee under the plan at any time in the year, except in the case of an allocation in respect of an amount described in any of subparagraphs a to d of the first paragraph of section 857 or a dividend received by the trust from a taxable Canadian corporation.

1972, c. 23, s. 646; 1973, c. 17, s. 102; 1977, c. 26, s. 91; 1989, c. 5, s. 156; 1995, c. 49, s. 191; 1997, c. 3, s. 71.