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I-3 - Taxation Act

Section 961.19
Disposition versions

Full text
961.19. If, at any time in a taxation year, a trust governed by a registered retirement income fund uses or permits to be used any property of the trust as security for a loan, the annuitant under the fund at that time shall include, in computing the annuitant’s income for the year, the fair market value of the property at the time it commenced to be so used.
1979, c. 18, s. 68; 1980, c. 13, s. 94; 1988, c. 18, s. 106; 1991, c. 25, s. 153; 2012, c. 8, s. 155.
961.19. Where, at any time in a taxation year, a trust governed by a registered retirement income fund acquires an investment 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) or commences to use or permit to be used a property of the trust as security for a loan, the annuitant under the fund at that time shall include, in computing his income for the year, the fair market value of the investment at the time of the acquisition or, as the case may be, the fair market value of the property at the time the property commences to be so used.
1979, c. 18, s. 68; 1980, c. 13, s. 94; 1988, c. 18, s. 106; 1991, c. 25, s. 153.
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