I-3, r. 1 - Regulation respecting the Taxation Act

Section 336r9 Disposition versions

2012-09-01

336R9. Where an annuity contract referred to in section 336R8 provides that the annuitant may accept a lump sum payment instead of annuity payments on the date when those payments commence, that amount constitutes the adjusted purchase price of the contract.

If the contract does not provide for any lump sum, the adjusted purchase price of the contract is then equal to the amount that may be determined according to the contract as being the actual value of the annuity on the date when the annuity payments commence.

s. 336R13; O.C. 2962-82, s. 34; O.C. 500-83, s. 34; O.C. 134-2009, s. 1.