Income Tax Regulations (C.R.C., c. 945)

Regulations are current to 2013-04-29 and last amended on 2013-02-14. Previous Versions

216. [Repealed, 2011, c. 24, s. 78]

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts and regulations. SOR/81-936, s. 3(F);
  • SOR/86-1092, s. 2;
  • SOR/94-686, s. 81(F);
  • 2011, c. 24, s. 78.
Previous Version

Dispositon of Interest in Annuities and Life Insurance Policies

  • 217. (1) In this section,

    “disposition”

    “disposition” has the meaning assigned by subsection 148(9) of the Act and includes anything deemed to be a disposition of a life insurance policy under subsection 148(2) of the Act; (disposition)

    “insurer”

    “insurer” has the meaning assigned by paragraph 148(10)(a) of the Act; (assureur)

    “life insurance policy”

    “life insurance policy”[Repealed, SOR/2011-188, s. 4]

  • (2) Where by reason of a disposition of an interest in a life insurance policy an amount is required, pursuant to paragraph 56(1)(j) of the Act, to be included in computing the income of a taxpayer and the insurer that is the issuer of the policy is a party to, or is notified in writing of, the disposition, the insurer shall make an information return in prescribed form in respect of the amount.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/78-449, s. 4;
  • SOR/84-967, s. 2;
  • SOR/88-165, s. 31(F);
  • SOR/2003-5, s. 7;
  • SOR/2010-93, s. 5(F);
  • SOR/2011-188, s. 4.
Previous Version

Patronage Payments

  • 218. (1) Every person who, within the meaning of section 135 of the Act, makes payments to residents of Canada pursuant to an allocation in proportion to patronage shall make an information return in prescribed form in respect of payments so made.

  • (2) Every person who receives a payment referred to in subsection (1) as nominee or agent for another person resident in Canada shall make an information return in prescribed form in respect of the payment so received.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/88-165, s. 31(F).

219. [Repealed, SOR/2003-5, s. 8]

Cash Bonus Payments on Canada Savings Bonds

  • 220. (1) Every person authorized to redeem Canada Savings Bonds (in this section referred to as the “redemption agent”) who pays an amount in respect of a Canada Savings Bond as a cash bonus that the Government of Canada has undertaken to pay (other than an amount of interest, bonus or principal agreed to be paid at the time of the issue of the bond under the terms of the bond) shall make an information return in prescribed form in respect of such payment.

  • (2) Every redemption agent required by subsection (1) to make an information return shall

    • (a) issue to the payee, at the time the cash bonus is paid, two copies of the portion of the return relating to him; and

    • (b) file the return with the Minister on or before the 15th day of the month following the month in which the cash bonus was paid.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/88-165, s. 31(F).