I-3 - Taxation Act

Section 776.1.5.0.10 Disposition versions

2006-03-01

776.1.5.0.10. Where an individual’s spouse was resident in Canada immediately before the individual’s death at a particular time in a taxation year and the spouse and the individual’s legal representative jointly so elect in writing in the individual’s fiscal return filed under this Part for the year, the following rules apply:

(a)  section 776.1.5.0.9 does not apply in respect of the individual;

(b)  a particular eligible amount equal to the amount that would, but for this section, be determined under section 776.1.5.0.9 in respect of the individual is deemed to have been received by the spouse, at the particular time;

(c)  subject to paragraph d, for the purposes of this division after the particular time, the individual’s repayment period in respect of the particular amount is deemed to be the spouse’s repayment period; and

(d)  paragraph c does not apply if an eligible amount was received by the spouse before the particular time in the spouse’s participation period that includes the particular time.

2001, c. 53, s. 144.