I-3 - Taxation Act

Section 935.7 Disposition versions

2006-03-01

935.7. If a spouse of an individual 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 935.6 does not apply in respect of the individual,

(b)  the spouse is deemed to have received a particular eligible amount at the particular time equal to the amount that, but for this section, would be determined under section 935.6 in respect of the individual;

(c)  for the purposes of section 935.4 and paragraph d, the completion date in respect of the particular amount is deemed to be

i.  if the spouse received an eligible amount before the death, other than an eligible amount received in a participation period of the spouse that ended before the beginning of the year, the completion date in respect of that amount, and

ii.  in any other case, the completion date in respect of the last eligible amount received by the individual; and

(d)  for the purposes of section 935.4, the completion date in respect of each eligible amount received by the spouse, after the death and before the end of the spouse’s participation period that includes the time of the death, is deemed to be the completion date in respect of the particular amount.

1994, c. 22, s. 290; 1995, c. 49, s. 206; 1996, c. 39, s. 242; 2001, c. 53, s. 200.