I-3 - Taxation Act

Section 663 Disposition versions

2006-03-01

663. A beneficiary of a trust shall include, in computing his income for a particular taxation year,

(a)  in the case of a trust, other than a trust referred to in subparagraph a of the third paragraph of section 647, such part of the amount that, but for paragraphs a and b of section 657, would be the trust’s income for the trust’s taxation year that ended in the particular year as became payable in the trust’s taxation year to the beneficiary; and

(b)  in the case of a trust governed by an employee benefit plan to which the beneficiary has contributed as an employer, such part of the amount that, but for paragraphs a and b of section 657, would be the trust’s income for its taxation year that ended in the particular year as was paid to the beneficiary in that taxation year of the trust;

(c)  (paragraph repealed).

1972, c. 23, s. 501; 1978, c. 26, s. 112; 1982, c. 5, s. 138; 1984, c. 15, s. 143; 1990, c. 59, s. 226; 1991, c. 25, s. 176; 2003, c. 2, s. 165.