I-3 - Taxation Act

Section 769 Disposition versions

2017-02-08

769. (Repealed).

1972, c. 23, s. 582; 2003, c. 2, s. 227; 2015, c. 36, s. 49; 2017, c. 1, s. 205.

2015-12-04

769. Section 768 does not apply if the trust mentioned therein:

(a)  was established before 18 June 1971;

(b)  was resident in Québec on 18 June 1971 and without interruption thereafter until the end of the taxation year;

(c)  did not carry on an eligible business in the taxation year;

(d)  has not received any property by gift since 18 June 1971;

(d.1)  was not a trust to which a contribution, within the meaning assigned by the first paragraph of section 593 as it reads in its application to a taxation year that ends after 31 December 2006, was made after 22 June 2000;

(e)  has not, after 18 June 1971, incurred a debt to any person with whom any beneficiary of the trust was not dealing at arm’s length or any other obligation to pay any amount to any such person and has not incurred any such debt or obligations guaranteed by any such person; and

(f)  has not received any property after 17 December 1999 where

i.  the property was received as a result of a transfer from another trust,

ii.  section 768 applied to a taxation year of the other trust that began before the property was so received, and

iii.  no change in the beneficial ownership of the property resulted from the transfer.

1972, c. 23, s. 582; 2003, c. 2, s. 227; 2015, c. 36, s. 49.

2006-03-01

769. Section 768 does not apply if the trust mentioned therein:

(a)  was established before 18 June 1971;

(b)  was resident in Québec on 18 June 1971 and without interruption thereafter until the end of the taxation year;

(c)  did not carry on an eligible business in the taxation year;

(d)  has not received any property by gift since 18 June 1971;

(e)  has not, after 18 June 1971, incurred a debt to any person with whom any beneficiary of the trust was not dealing at arm’s length or any other obligation to pay any amount to any such person and has not incurred any such debt or obligations guaranteed by any such person; and

(f)  has not received any property after 17 December 1999 where

i.  the property was received as a result of a transfer from another trust,

ii.  section 768 applied to a taxation year of the other trust that began before the property was so received, and

iii.  no change in the beneficial ownership of the property resulted from the transfer.

1972, c. 23, s. 582; 2003, c. 2, s. 227.