I-3 - Taxation Act

Section 646 Disposition versions

2006-03-01

646. In this Part, unless the context indicates a different meaning and subject to the third paragraph, a trust, wherever it is created, or a succession, in this Title referred to as a “trust”, also includes the trustee or other legal representative having ownership or control of the trust property.

Likewise, a beneficiary shall include every person having a beneficial interest in a trust.

However, except for the purposes of this section, subparagraph v of subparagraph b of the first paragraph of section 248, subparagraph g of the second paragraph of that section and section 646.1, an arrangement under which a trust can reasonably be considered to act as agent or mandatary for all of the beneficiaries under the trust in respect of all of the dealings with all of the trust’s property, is deemed not to be a trust, unless the trust is described in any of paragraphs a to d of the third paragraph of section 647.

1972, c. 23, s. 483; 1988, c. 18, s. 55; 1994, c. 22, s. 219; 1996, c. 39, s. 273; 1998, c. 16, s. 176; 2000, c. 5, s. 138; 2003, c. 2, s. 148.