I-3 - Taxation Act

Section 668.4 Disposition versions

2019-06-19

668.4. For the purposes of sections 668.1 and 668.2,

“eligible taxable capital gains” of a trust for a taxation year means the lesser of

(a)  its annual gains limit, within the meaning assigned by the first paragraph of section 726.6, for the year; and

(b)  the amount by which its cumulative gains limit, within the meaning assigned by the first paragraph of section 726.6, at the end of the year, exceeds the aggregate of all amounts designated under sections 668.1 and 668.2 by the trust in respect of beneficiaries for taxation years before that year;

“qualified farm or fishing property” of an individual has the meaning assigned by subparagraph a.0.2 of the first paragraph of section 726.6;

“qualified farm property” of an individual has the meaning assigned by subparagraph a of the first paragraph of section 726.6, as it read before being struck out;

“qualified fishing property” of an individual has the meaning assigned by subparagraph a.0.1 of the first paragraph of section 726.6, as it read before being struck out;

“qualified small business corporation share” of an individual has the meaning assigned to it by section 726.6.1.

1987, c. 67, s. 130; 1990, c. 59, s. 235; 1994, c. 22, s. 235; 1995, c. 49, s. 153; 1996, c. 39, s. 175; 1997, c. 3, s. 71; 2007, c. 12, s. 71; 2009, c. 15, s. 99; 2017, c. 29, s. 90; 2019, c. 14, s. 172.

2017-12-07

668.4. For the purposes of sections 668.1 and 668.2,

“eligible taxable capital gains” of a personal trust for a taxation year means the lesser of

(a)  its annual gains limit, within the meaning assigned by the first paragraph of section 726.6, for the year; and

(b)  the amount by which its cumulative gains limit, within the meaning assigned by the first paragraph of section 726.6, at the end of the year, exceeds the aggregate of all amounts designated under sections 668.1 and 668.2 by the trust in respect of beneficiaries for taxation years before that year;

“qualified farm or fishing property” of an individual has the meaning assigned by subparagraph a.0.2 of the first paragraph of section 726.6;

“qualified farm property” of an individual has the meaning assigned by subparagraph a of the first paragraph of section 726.6, as it read before being struck out;

“qualified fishing property” of an individual has the meaning assigned by subparagraph a.0.1 of the first paragraph of section 726.6, as it read before being struck out;

“qualified small business corporation share” of an individual has the meaning assigned to it by section 726.6.1.

1987, c. 67, s. 130; 1990, c. 59, s. 235; 1994, c. 22, s. 235; 1995, c. 49, s. 153; 1996, c. 39, s. 175; 1997, c. 3, s. 71; 2007, c. 12, s. 71; 2009, c. 15, s. 99; 2017, c. 29, s. 90.

2009-06-04

668.4. For the purposes of sections 668.1 to 668.2.4,

“eligible taxable capital gains” of a personal trust for a taxation year means the lesser of

(a)  its annual gains limit, within the meaning assigned by the first paragraph of section 726.6, for the year; and

(b)  the amount by which its cumulative gains limit, within the meaning assigned by the first paragraph of section 726.6, at the end of the year, exceeds the aggregate of all amounts designated under sections 668.1 and 668.2 by the trust in respect of beneficiaries for taxation years before that year;

“qualified farm property” of an individual has the meaning assigned to it by subparagraph a of the first paragraph of section 726.6;

“qualified fishing property” of an individual has the meaning assigned by subparagraph a.0.1 of the first paragraph of section 726.6;

“qualified small business corporation share” of an individual has the meaning assigned to it by section 726.6.1.

1987, c. 67, s. 130; 1990, c. 59, s. 235; 1994, c. 22, s. 235; 1995, c. 49, s. 153; 1996, c. 39, s. 175; 1997, c. 3, s. 71; 2007, c. 12, s. 71; 2009, c. 15, s. 99.

2007-11-07

668.4. For the purposes of sections 668.1 and 668.2,

“eligible taxable capital gains” of a personal trust for a taxation year means the lesser of

(a)  its annual gains limit, within the meaning assigned by the first paragraph of section 726.6, for the year; and

(b)  the amount by which its cumulative gains limit, within the meaning assigned by the first paragraph of section 726.6, at the end of the year, exceeds the aggregate of all amounts designated under sections 668.1 and 668.2 by the trust in respect of beneficiaries for taxation years before that year;

“qualified farm property” of an individual has the meaning assigned to it by subparagraph a of the first paragraph of section 726.6;

“qualified fishing property” of an individual has the meaning assigned by subparagraph a.0.1 of the first paragraph of section 726.6;

“qualified small business corporation share” of an individual has the meaning assigned to it by section 726.6.1.

1987, c. 67, s. 130; 1990, c. 59, s. 235; 1994, c. 22, s. 235; 1995, c. 49, s. 153; 1996, c. 39, s. 175; 1997, c. 3, s. 71; 2007, c. 12, s. 71.

2006-03-01

668.4. For the purposes of sections 668.1 and 668.2,

“eligible taxable capital gains” of a personal trust for a taxation year means the lesser of

(a)  its annual gains limit, within the meaning assigned by the first paragraph of section 726.6, for the year; and

(b)  the amount by which its cumulative gains limit, within the meaning assigned by the first paragraph of section 726.6, at the end of the year, exceeds the aggregate of all amounts designated under sections 668.1 and 668.2 by the trust in respect of beneficiaries for taxation years before that year;

“qualified farm property” of an individual has the meaning assigned to it by subparagraph a of the first paragraph of section 726.6;

“qualified small business corporation share” of an individual has the meaning assigned to it by section 726.6.1.

1987, c. 67, s. 130; 1990, c. 59, s. 235; 1994, c. 22, s. 235; 1995, c. 49, s. 153; 1996, c. 39, s. 175; 1997, c. 3, s. 71.