I-3 - Taxation Act

Section 21.0.11 Disposition versions

2017-12-07

21.0.11. Where a trust is subject to a loss restriction event at a particular time, the following rules apply in respect of the trust for its taxation year that ends immediately before that time:

(a)  paragraph d of subsection 2 of section 1000 is to be read as if “within 90 days after the end of” were replaced by “on or before the trust’s balance-due day for”, and the second paragraph of section 1086R57 of the Regulation respecting the Taxation Act (chapter I-3, r. 1) is to be read as if “within 90 days following the end of” were replaced by “on or before the trust’s balance-due day for”;

(b)  the first paragraph of section 1086R77 of the Regulation respecting the Taxation Act is to be read as if “within 90 days after the end of” were replaced by “on or before the reporting person’s balance-due day for”;

(c)  the first paragraph of section 1120.0.1 is to be read as if “before the 91st day after the end of” were replaced by “that occurs on or before the trust’s balance-due day for”.

2017, c. 29, s. 26.