I-3 - Taxation Act

Section 869.15 Disposition versions

2022-06-08

869.15. Where the condition of section 869.14 is satisfied in respect of a trust, the following rules apply:

(a)  the trust is deemed for the purposes of this Part to be an employee life and health trust from the date referred to in paragraph d of subsection 14 of section 144.1 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) until the earliest of

i.  the end of the year 2022,

ii.  the day that the trust satisfies the conditions of section 869.2, and

iii.  any day on which all or substantially all of the employee benefits provided by the trust are not designated employee benefits; and

(b)  at any time that the trust is an employee life and health trust because of paragraph a, the following rules apply in its respect:

i.  section 727.1 is to be read as if “of paragraph b” were inserted before “of section 869.3” in paragraph b, and

ii.  section 869.3 is to be read without reference to its paragraph a.

2022, c. 23, s. 79.