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I-3 - Taxation Act

Section 961.15
Disposition versions

Full text
961.15. Despite section 961.12, a trust governed by a registered retirement income fund that holds, at any time in a taxation year, a property that is not a qualified investment for the purposes of subsection 9 of section 146.3 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) shall pay tax under this Part on the amount that its taxable income for the year would be if the trust had no incomes or losses from sources other than properties that are not such qualified investments and no capital gains or capital losses other than from the disposition of such properties.
1979, c. 18, s. 68; 1991, c. 25, s. 147; 2009, c. 5, s. 386; 2012, c. 8, s. 153.
961.15. Despite section 961.12, a trust governed by a registered retirement income fund that holds, at any time in a taxation year, a property that is not a qualified investment for the purposes of section 146.3 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), shall pay tax under this Part on the amount that its taxable income for the year would be if the trust had no incomes or losses from sources other than the property that is not a qualified investment for the purposes of that Act and no capital gains or capital losses other than from the disposition of that property.
1979, c. 18, s. 68; 1991, c. 25, s. 147; 2009, c. 5, s. 386.
961.15. Notwithstanding section 961.12, a trust governed by a registered retirement income fund that acquires property that is not a qualified investment for the purposes of section 146.3 of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement), shall pay tax under this Part on the amount that its taxable income for the year would be if the trust had no incomes or losses from sources other than property that is not a qualified investment for the purposes of the said Act and no capital gains or capital losses other than from the disposition of such property.
1979, c. 18, s. 68; 1991, c. 25, s. 147.
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