I-3 - Taxation Act

Section 890.9 Disposition versions

2006-03-01

890.9. A taxpayer shall include in computing his income for a taxation year

(a)  any amount, including a return of contributions, received in the year by the taxpayer or another person, other than an amount required to be included in that other person’s income for a taxation year under section 890.11, out of or under a retirement compensation arrangement that can reasonably be considered to have been received in respect of an office or employment of the taxpayer;

(b)  any amount received or that became receivable in the year by the taxpayer as proceeds from the disposition of an interest in a retirement compensation arrangement; and

(c)  the aggregate of all amounts, including a return of contributions, each of which is an amount received in the year by the taxpayer out of or under a retirement compensation arrangement that can reasonably be considered to have been received in respect of an office or employment of a person other than the taxpayer, except to the extent that the amount was required

i.  under section 890.11 to be included in computing the taxpayer’s income for a taxation year; or

ii.  under paragraph a of this section or section 429 to be included in computing the income for the year of a person resident in Canada other than the taxpayer.

1989, c. 77, s. 95; 1991, c. 25, s. 176.