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I-3 - Taxation Act

Section 933
Disposition versions

Full text
933. If, at any time in a taxation year, a trust governed by a registered retirement savings plan uses or permits to be used any property of the trust as security for a loan, the individual who is an annuitant under the plan at that time shall include, in computing the individual’s income for the year, the fair market value of the property at the time it commenced to be so used.
1972, c. 23, s. 691; 1980, c. 13, s. 88; 1988, c. 18, s. 89; 1991, c. 25, s. 137; 2012, c. 8, s. 150.
933. Where, at any time in a taxation year, a trust governed by a registered retirement savings plan acquires, or is deemed to acquire, an investment that is a non-qualified investment for the purposes of section 146 of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement), or uses or permits to be used any property of the trust as security for a loan, the individual who is the annuitant under the plan at that time shall include, in computing his income for the year, the fair market value of the investment at the time it was acquired by the trust or, as the case may be, the fair market value of the property at the time it commenced to be so used.
1972, c. 23, s. 691; 1980, c. 13, s. 88; 1988, c. 18, s. 89; 1991, c. 25, s. 137.
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