I-3 - Taxation Act

Section 340 Disposition versions

2011-06-06

340. (Repealed).

1972, c. 23, s. 310; 1973, c. 17, s. 36; 1991, c. 25, s. 70; 2011, c. 6, s. 130.

2006-03-01

340. In the case of any pension benefit, death benefit, benefit under a registered retirement savings plan or a deferred profit sharing plan received in the year upon or after the death of a predecessor, in payment of or on account of property which he inherits, the taxpayer may deduct that part of such benefit represented by the proportion that:

(a)  such part of the tax payable under the Estate Tax Act (Revised Statutes of Canada, 1970, chapter E-9) in respect of such death as is, under the said Act, reasonably attributable to the property in payment or on account of which the benefit was so received is of

(b)  the value of such property, computed in accordance with subsection 4 of section 62 of the said Act.

1972, c. 23, s. 310; 1973, c. 17, s. 36; 1991, c. 25, s. 70.