I-3 - Taxation Act

Section 961.17 Disposition versions

2022-06-08

961.17. An individual shall include in computing his income for a taxation year an amount received by him in the year out of or under a registered retirement income fund, other than the portion of that amount that can reasonably be regarded as

(a)  part of the amount included in computing the income of another individual under section 961.17.1;

(b)  an amount received in respect of the income of the trust under the fund for a taxation year referred to in section 961.16.1;

(c)  an amount that relates to interest, or to another amount included in computing income otherwise than because of any of the provisions of this Title, and that would, if the fund were a registered retirement savings plan, be a tax-paid amount described in subparagraph ii of paragraph c.1 of section 905.1; or

(d)  an amount in respect of which the taxpayer pays a tax under Part XI.01 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), unless the tax is waived, cancelled or refunded.

An amount transferred on behalf of an individual from a registered retirement income fund of an annuitant is not to be included in computing the income of a taxpayer, solely because of that transfer, where the amount is

(a)  an amount transferred as described in paragraph e of subsection 2 of section 146.3 of the Income Tax Act;

(b)  an amount transferred on behalf of an individual who is a spouse or former spouse of the annuitant and who is entitled to the amount under an order or judgment of a competent court, or under a written agreement, relating to a partition of property between the annuitant and the annuitant’s spouse or former spouse in settlement of rights arising out of, or on the breakdown of, their marriage, directly to

i.  a registered retirement income fund under which the individual is the annuitant, or

ii.  a registered retirement savings plan under which the individual is the annuitant within the meaning of paragraph b of section 905.1;

(b.1)  an amount transferred at the direction of the annuitant directly to an account of the annuitant under a pooled registered pension plan;

(c)  an amount transferred at the direction of the annuitant directly to a registered pension plan of which, at any time before the transfer, the annuitant was a member, within the meaning of section 965.0.1, or to a prescribed registered pension plan and allocated to the annuitant under a money purchase provision of the plan, within the meaning of section 965.0.1; or

(d)  an amount transferred at the direction of the annuitant directly to a licensed annuities provider to acquire an advanced life deferred annuity for the benefit of the annuitant.

1979, c. 18, s. 68; 1980, c. 13, s. 93; 1988, c. 18, s. 104; 1991, c. 25, s. 148; 1994, c. 22, s. 293; 1995, c. 49, s. 236; 1997, c. 14, s. 290; 2000, c. 5, s. 217; 2005, c. 1, s. 200; 2012, c. 8, s. 154; 2015, c. 21, s. 348; 2021, c. 18, s. 73; 2022, c. 23, s. 82.

2021-06-04

961.17. An individual shall include in computing his income for a taxation year an amount received by him in the year out of or under a registered retirement income fund, other than the portion of that amount that can reasonably be regarded as

(a)  part of the amount included in computing the income of another individual under section 961.17.1;

(b)  an amount received in respect of the income of the trust under the fund for a taxation year referred to in section 961.16.1;

(c)  an amount that relates to interest, or to another amount included in computing income otherwise than because of any of the provisions of this Title, and that would, if the fund were a registered retirement savings plan, be a tax-paid amount described in subparagraph ii of paragraph c.1 of section 905.1; or

(d)  an amount in respect of which the taxpayer pays a tax under Part XI.01 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), unless the tax is waived, cancelled or refunded.

An amount transferred on behalf of an individual from a registered retirement income fund of an annuitant is not to be included in computing the income of a taxpayer, solely because of that transfer, where the amount is

(a)  an amount transferred as described in paragraph e of subsection 2 of section 146.3 of the Income Tax Act;

(b)  an amount transferred on behalf of an individual who is a spouse or former spouse of the annuitant and who is entitled to the amount under an order or judgment of a competent court, or under a written agreement, relating to a partition of property between the annuitant and the annuitant’s spouse or former spouse in settlement of rights arising out of, or on the breakdown of, their marriage, directly to

i.  a registered retirement income fund under which the individual is the annuitant, or

ii.  a registered retirement savings plan under which the individual is the annuitant within the meaning of paragraph b of section 905.1;

(b.1)  an amount transferred at the direction of the annuitant directly to an account of the annuitant under a pooled registered pension plan; or

(c)  an amount transferred at the direction of the annuitant directly to a registered pension plan of which, at any time before the transfer, the annuitant was a member, within the meaning of section 965.0.1, or to a prescribed registered pension plan and allocated to the annuitant under a money purchase provision of the plan, within the meaning of section 965.0.1.

1979, c. 18, s. 68; 1980, c. 13, s. 93; 1988, c. 18, s. 104; 1991, c. 25, s. 148; 1994, c. 22, s. 293; 1995, c. 49, s. 236; 1997, c. 14, s. 290; 2000, c. 5, s. 217; 2005, c. 1, s. 200; 2012, c. 8, s. 154; 2015, c. 21, s. 348; 2021, c. 18, s. 73.

2015-10-21

961.17. An individual shall include in computing his income for a taxation year an amount received by him in the year out of or under a registered retirement income fund, other than the portion of that amount that can reasonably be regarded as

(a)  part of the amount included in computing the income of another individual under section 961.17.1;

(b)  an amount received in respect of the income of the trust under the fund for a taxation year referred to in section 961.16.1;

(c)  an amount that relates to interest, or to another amount included in computing income otherwise than because of any of the provisions of this Title, and that would, if the fund were a registered retirement savings plan, be a tax-paid amount described in subparagraph ii of paragraph c.1 of section 905.1; or

(d)  an amount in respect of which the taxpayer pays a tax under Part XI.01 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), unless the tax is waived, cancelled or refunded.

An amount transferred on behalf of an individual from a registered retirement income fund of an annuitant is not to be included in computing the income of a taxpayer, solely because of that transfer, where the amount is

(a)  an amount transferred as described in paragraph e of subsection 2 of section 146.3 of the Income Tax Act;

(b)  an amount transferred on behalf of an individual who is a spouse or former spouse of the annuitant and who is entitled to the amount under an order or judgment of a competent court, or under a written separation agreement, relating to a partition of property between the annuitant and the annuitant’s spouse or former spouse in settlement of rights arising out of, or on the breakdown of, their marriage, directly to

i.  a registered retirement income fund under which the individual is the annuitant, or

ii.  a registered retirement savings plan under which the individual is the annuitant within the meaning of paragraph b of section 905.1;

(b.1)  an amount transferred at the direction of the annuitant directly to an account of the annuitant under a pooled registered pension plan; or

(c)  an amount transferred at the direction of the annuitant directly to a registered pension plan of which, at any time before the transfer, the annuitant was a member, within the meaning of section 965.0.1, or to a prescribed registered pension plan and allocated to the annuitant under a money purchase provision of the plan, within the meaning of section 965.0.1.

1979, c. 18, s. 68; 1980, c. 13, s. 93; 1988, c. 18, s. 104; 1991, c. 25, s. 148; 1994, c. 22, s. 293; 1995, c. 49, s. 236; 1997, c. 14, s. 290; 2000, c. 5, s. 217; 2005, c. 1, s. 200; 2012, c. 8, s. 154; 2015, c. 21, s. 348.

2012-05-09

961.17. An individual shall include in computing his income for a taxation year an amount received by him in the year out of or under a registered retirement income fund, other than the portion of that amount that can reasonably be regarded as

(a)  part of the amount included in computing the income of another individual under section 961.17.1;

(b)  an amount received in respect of the income of the trust under the fund for a taxation year referred to in section 961.16.1;

(c)  an amount that relates to interest, or to another amount included in computing income otherwise than because of any of the provisions of this Title, and that would, if the fund were a registered retirement savings plan, be a tax-paid amount described in subparagraph ii of paragraph c.1 of section 905.1; or

(d)  an amount in respect of which the taxpayer pays a tax under Part XI.01 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), unless the tax is waived, cancelled or refunded.

An amount transferred on behalf of an individual from a registered retirement income fund of an annuitant is not to be included in computing the income of a taxpayer, solely because of that transfer, where the amount is

(a)  an amount transferred as described in paragraph e of subsection 2 of section 146.3 of the Income Tax Act;

(b)  an amount transferred on behalf of an individual who is a spouse or former spouse of the annuitant and who is entitled to the amount under an order or judgment of a competent court, or under a written separation agreement, relating to a partition of property between the annuitant and the annuitant’s spouse or former spouse in settlement of rights arising out of, or on the breakdown of, their marriage, directly to

i.  a registered retirement income fund under which the individual is the annuitant, or

ii.  a registered retirement savings plan under which the individual is the annuitant within the meaning of paragraph b of section 905.1; or

(c)  an amount transferred at the direction of the annuitant directly to a registered pension plan of which, at any time before the transfer, the annuitant was a member, within the meaning of section 965.0.1, or to a prescribed registered pension plan and allocated to the annuitant under a money purchase provision of the plan, within the meaning of section 965.0.1.

1979, c. 18, s. 68; 1980, c. 13, s. 93; 1988, c. 18, s. 104; 1991, c. 25, s. 148; 1994, c. 22, s. 293; 1995, c. 49, s. 236; 1997, c. 14, s. 290; 2000, c. 5, s. 217; 2005, c. 1, s. 200; 2012, c. 8, s. 154.

2006-03-01

961.17. An individual shall include in computing his income for a taxation year an amount received by him in the year out of or under a registered retirement income fund, other than the portion of that amount that can reasonably be regarded as

(a)  part of the amount included in computing the income of another individual under section 961.17.1;

(b)  an amount received in respect of the income of the trust under the fund for a taxation year referred to in section 961.16.1; or

(c)  an amount that relates to interest, or to another amount included in computing income otherwise than because of any of the provisions of this Title, and that would, if the fund were a registered retirement savings plan, be a tax-paid amount described in subparagraph ii of paragraph c.1 of section 905.1.

An amount transferred on behalf of an individual from a registered retirement income fund of an annuitant is not to be included in computing the income of a taxpayer, solely because of that transfer, where the amount is

(a)  an amount transferred as described in paragraph e of subsection 2 of section 146.3 of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement);

(b)  an amount transferred on behalf of an individual who is a spouse or former spouse of the annuitant and who is entitled to the amount under an order or judgment of a competent court, or under a written separation agreement, relating to a partition of property between the annuitant and the annuitant’s spouse or former spouse in settlement of rights arising out of, or on the breakdown of, their marriage, directly to

i.  a registered retirement income fund under which the individual is the annuitant, or

ii.  a registered retirement savings plan under which the individual is the annuitant within the meaning of paragraph b of section 905.1; or

(c)  an amount transferred at the direction of the annuitant directly to a registered pension plan of which, at any time before the transfer, the annuitant was a member, within the meaning of section 965.0.1, or to a prescribed registered pension plan and allocated to the annuitant under a money purchase provision of the plan, within the meaning of section 965.0.1.

1979, c. 18, s. 68; 1980, c. 13, s. 93; 1988, c. 18, s. 104; 1991, c. 25, s. 148; 1994, c. 22, s. 293; 1995, c. 49, s. 236; 1997, c. 14, s. 290; 2000, c. 5, s. 217; 2005, c. 1, s. 200.