I-3 - Taxation Act

Section 671.8 Disposition versions

2011-06-06

671.8. Every tax-liable beneficiary under a designated trust for a particular taxation year of the designated trust and, if the beneficiary under the designated trust for the particular year is a partnership, every tax-liable member of the partnership for a fiscal period of the partnership in which the particular year ends shall enclose with the fiscal return the beneficiary or the member is required to file under section 1000 or would be required to file under that section if tax were payable by the beneficiary or the member under this Part for the tax-liable beneficiary’s taxation year in which the particular year ends or for the tax-liable member’s taxation year in which the fiscal period ends, as the case may be, an information return, in the prescribed form, containing

(a)  the name of the designated trust;

(b)  the name and address of the trustee under the designated trust for the particular year; and

(c)  the date from which the beneficiary is such a beneficiary under the designated trust.

Where the beneficiary referred to in the first paragraph has, for the particular year, with any person or partnership with whom or with which the beneficiary is not dealing at arm’s length, a share of the aggregate of the income interests in the designated trust that is an amount of $5,000 or more, or a share of the aggregate of the income interests in the designated trust or of the aggregate of the capital interests in the designated trust that corresponds to at least 10% of the aggregate of the income interests in the designated trust or of the aggregate of the capital interests in the designated trust, the information return referred to in that paragraph shall also contain the following information, for the particular year and for the four taxation years preceding the particular year:

(a)  any former address of the trustee under the designated trust for the particular year; and

(b)  the name and address of any trustee preceding the trustee under the designated trust for the particular year.

2004, c. 21, s. 96; 2011, c. 6, s. 142.

2006-03-01

671.8. Every beneficiary under a designated trust for a particular taxation year of the designated trust shall enclose with the fiscal return the beneficiary is required to file under section 1000 for the beneficiary’s taxation year in which the particular year ends, or would be required to so file if tax were payable by the beneficiary under this Part for the beneficiary’s taxation year in which the particular year ends and, where the beneficiary under the designated trust for the particular year is a partnership, every member of the partnership shall enclose with the fiscal return the member is required to file under section 1000 for the member’s taxation year in which ends the fiscal period of the partnership in which the particular year ends, or would be required to so file if tax were payable by the member for the member’s taxation year in which that fiscal period ends, an information return, in prescribed form, containing

(a)  the name of the designated trust;

(b)  the name and address of the trustee under the designated trust for the particular year; and

(c)  the date from which the beneficiary is such a beneficiary under the designated trust.

Where the beneficiary referred to in the first paragraph has, for the particular year, with any person or partnership with whom or with which the beneficiary is not dealing at arm’s length, a share of the aggregate of the income interests in the designated trust that is an amount of $5,000 or more, or a share of the aggregate of the income interests in the designated trust or of the aggregate of the capital interests in the designated trust that corresponds to at least 10% of the aggregate of the income interests in the designated trust or of the aggregate of the capital interests in the designated trust, the information return referred to in that paragraph shall also contain the following information, for the particular year and for the four taxation years preceding the particular year:

(a)  any former address of the trustee under the designated trust for the particular year; and

(b)  the name and address of any trustee preceding the trustee under the designated trust for the particular year.

2004, c. 21, s. 96.