I-3 - Taxation Act

Section 692.0.1 Disposition versions

2015-10-21

692.0.1. Where, solely by reason of the application of section 692, subparagraphs a to c of the first paragraph of section 688 do not apply to a distribution in a taxation year of taxable Canadian property by a trust, for the purposes of sections 1025, 1026 and 1026.0.2 to 1026.2, the first, second and third paragraphs of section 1038 and any regulations made under those provisions, the aggregate of the taxes payable by the trust under this Part for the year is deemed to be the lesser of

(a)  the aggregate of the taxes payable by the trust under this Part for the year, determined without reference to the specified tax consequences for the year; and

(b)  the amount that would be determined under paragraph a if section 692 did not apply to each distribution in the year of taxable Canadian property to which the rules set out in section 688 do not apply solely by reason of the application of section 692.

2003, c. 2, s. 184; 2015, c. 21, s. 227.

2006-03-01

692.0.1. Where, solely by reason of the application of section 692, subparagraphs a to c of the first paragraph of section 688 do not apply to a distribution in a taxation year of taxable Canadian property by a trust, for the purposes of sections 1025, 1026 and 1026.0.1, the first, second and third paragraphs of section 1038 and any regulations made under those provisions, the aggregate of the taxes payable by the trust under this Part for the year is deemed to be the lesser of

(a)  the aggregate of the taxes payable by the trust under this Part for the year, determined without reference to the specified tax consequences for the year; and

(b)  the amount that would be determined under paragraph a if section 692 did not apply to each distribution in the year of taxable Canadian property to which the rules set out in section 688 do not apply solely by reason of the application of section 692.

2003, c. 2, s. 184.