Marginal note:Montant provenant d’une fiducie de convention de retraite

107.2 Pour l’application de la présente partie et de la partie XI.3, dans le cas où, à un moment donné, une fiducie régie par une convention de retraite distribue un de ses biens à un contribuable bénéficiaire de la fiducie, en règlement de la totalité ou d’une partie de la participation de celui-ci dans la fiducie, les règles ci-après s’appliquent :

• b) la fiducie est réputée verser au contribuable, au titre d’une distribution, une somme égale à cette juste valeur marchande;

Marginal note:Qualifying disposition

• 107.4 (1) In this section, a “qualifying disposition” of a property means a disposition of the property before December 21, 2002 by a person or partnership, and a disposition of property after December 20, 2002 by an individual, (which person, partnership or individual is referred to in this subsection as the “contributor”) as a result of a transfer of the property to a particular trust where

• (c) the particular trust is resident in Canada at the time of the transfer;

• (ii) celle commençant après le 17 décembre 1999 et comprenant la disposition de la totalité ou d’une partie d’une participation au capital ou d’une participation au revenu d’une fiducie personnelle, sauf une disposition effectuée uniquement par suite de la distribution d’un bien, d’une fiducie à une personne ou à une société de personnes, en règlement de la totalité ou d’une partie de cette participation,

• (iii) celle commençant après le 5 juin 2000 et comprenant le transfert d’un bien à la fiducie donnée, effectué en contrepartie de l’acquisition d’une participation au capital de cette fiducie, s’il est raisonnable de considérer que celle-ci a reçu le bien en vue de financer une distribution (sauf celle qui correspond au produit de disposition d’une participation au capital de la fiducie);

• (a.1) where that time (in this paragraph referred to as the “particular time”) is immediately before the time that is immediately before the time of the death of the taxpayer and subsection 104(4) or (5) deems the trust to dispose of property at the end of the day that includes the particular time, the amount that would be determined under paragraph (b) if the taxpayer had died on a day that ended immediately before the time that is immediately before the particular time, and

“testamentary trust”

« fiducie testamentaire »

“testamentary trust”, in a taxation year, means a trust that arose on and as a consequence of the death of an individual (including a trust referred to in subsection 248(9.1)), other than

• (d) a trust that, at any time after December 20, 2002 and before the end of the taxation year, incurs a debt or any other obligation owed to, or guaranteed by, a beneficiary or any other person or partnership (which beneficiary, person or partnership is referred to in this paragraph as the “specified party”) with whom any beneficiary of the trust does not deal at arm’s length, other than a debt or other obligation

  • (i) incurred by the trust in satisfaction of the specified party’s right as a beneficiary under the trust

    • (A) to enforce payment of an amount of the trust’s income or capital gains payable at or before that time by the trust to the specified party, or

    • (B) to otherwise receive any part of the capital of the trust,

  • (ii) owed to the specified party, if the debt or other obligation arose because of a service (for greater certainty, not including any transfer or loan of property) rendered by the specified party to, for or on behalf of the trust,

  • (iii) owed to the specified party, if

    • (A) the debt or other obligation arose because of a payment made by the specified party for or on behalf of the trust,

    • (B) in exchange for the payment (and in full settlement of the debt or other obligation), the trust transfers property, the fair market value of which is not less than the principal amount of the debt or other obligation, to the specified party within 12 months after the payment was made (or, if written application has been made to the Minister by the trust within that 12-month period, within any longer period that the Minister considers reasonable in the circumstances), and

    • (C) it is reasonable to conclude that the specified party would have been willing to make the payment if the specified party dealt at arm’s length with the trust, except where the trust is the individual’s estate and that payment was made within the first 12 months after the individual’s death (or, if written application has been made to the Minister by the estate within that 12-month period, within any longer period that the Minister considers reasonable in the circumstances), or

  • (iv) incurred by the trust before October 24, 2012 if, in full settlement of the debt or other obligation the trust transfers property, the fair market value of which is not less than the principal amount of the debt or other obligation, to the person or partnership to whom the debt or other obligation is owed within 12 months after the day on which the Technical Tax Amendments Act, 2012 receives royal assent (or if written application has been made to the Minister by the trust within that 12-month period, within any longer period that the Minister considers reasonable in the circumstances);

• (a.1) a trust (other than a trust described in paragraph (a) or (d), a trust to which subsection 7(2) or (6) applies or a trust prescribed for the purpose of subsection 107(2)) all or substantially all of the property of which is held for the purpose of providing benefits to individuals each of whom is provided with benefits in respect of, or because of, an office or employment or former office or employment of any individual,

and, in applying subsections 104(4), (5), (5.2), (12), (14) and (15) at any time, does not include

• a) dans le cas où de l’argent ou un autre bien de la fiducie a été distribué par celle-ci au contribuable en règlement de tout ou partie de sa participation au capital (lors de la liquidation de la fiducie ou autrement), du total des montants suivants :

  • (i) l’argent ainsi distribué,

  • (ii) les sommes représentant chacune le coût indiqué pour la fiducie, immédiatement avant la distribution, de chacun de ces autres biens,

• (v) la fiducie dont les modalités prévoient, à ce moment, que la totalité ou une partie de la participation d’une personne dans la fiducie doit prendre fin par rapport à une période (y compris celle déterminée par rapport au décès de la personne), autrement que par l’effet des modalités de la fiducie selon lesquelles une participation dans la fiducie doit prendre fin par suite de la distribution à la personne (ou à sa succession) d’un bien de la fiducie, si la juste valeur marchande du bien à distribuer doit être proportionnelle à celle de cette participation immédiatement avant la distribution,

• (vi) la fiducie qui, avant ce moment et après le 17 décembre 1999, a effectué une distribution en faveur d’un bénéficiaire au titre de la participation de celui-ci à son capital, s’il est raisonnable de considérer que la distribution a été financée par une dette de la fiducie et si l’une des raisons pour lesquelles la dette a été contractée était d’éviter des impôts payables par ailleurs en vertu de la présente partie par suite du décès d’un particulier.

« montant de réduction admissible »

“eligible offset”

montant de réduction admissible En ce qui concerne un contribuable à un moment donné relativement à la totalité ou à une partie de sa participation au capital d’une fiducie, toute partie de dette ou d’obligation qui est prise en charge par le contribuable et qu’il est raisonnable de considérer comme étant imputable à un bien distribué à ce moment en règlement de la participation ou de la partie de participation, si la distribution est conditionnelle à la prise en charge par le contribuable de la partie de dette ou d’obligation.

• (A) not less than 95% of its income for the current year (computed without regard to subsections 39(2), 49(2.1) and 104(6)) was derived from, or from the disposition of, investments described in subparagraph (iii), or

• (B) not less than 95% of its income for each of the relevant periods (computed without regard to subsections 39(2), 49(2.1) and 104(6) and as though each of those periods were a taxation year) was derived from, or from the disposition of, investments described in subparagraph (iii),

• Marginal note:Part VI.1 tax

  (k) the amount determined by multiplying the taxpayer’s tax payable under subsection 191.1(1) for the year by

  • (i) if the taxation year ends before 2010, 3,

  • (ii) if the taxation year ends after 2009 and before 2012, 3.2, and

  • (iii) if the taxation year ends after 2011, 3.5.

• Marginal note:Reduction in exercise price

  (1.7) If the amount payable by a taxpayer to acquire securities under an agreement referred to in subsection 7(1) is reduced at any particular time and the conditions in subsection (1.8) are satisfied in respect of the reduction,

  • (a) the rights (referred to in this subsection and subsection (1.8) as the “old rights”) that the taxpayer had under the agreement immediately before the particular time are deemed to have been disposed of by the taxpayer immediately before the particular time;

  • (b) the rights (referred to in this subsection and subsection (1.8) as the “new rights”) that the taxpayer has under the agreement at the particular time are deemed to be acquired by the taxpayer at the particular time; and

  • (c) the taxpayer is deemed to receive the new rights as consideration for the disposition of the old rights.

• Marginal note:Conditions for subsection (1.7) to apply

  (1.8) The following are the conditions in respect of the reduction:

  • (a) that the taxpayer would not be entitled to a deduction under paragraph (1)(d) if the taxpayer acquired securities under the agreement immediately after the particular time and this section were read without reference to subsection (1.7); and

  • (b) that the taxpayer would be entitled to a deduction under paragraph (1)(d) if the taxpayer

    • (i) disposed of the old rights immediately before the particular time,

    • (ii) acquired the new rights at the particular time as consideration for the disposition, and

    • (iii) acquired securities under the agreement immediately after the particular time.

• Marginal note:Charitable gifts

  (a) the total of all amounts each of which is the eligible amount of a gift (other than a gift described in paragraph (b), (c) or (d)) made by the corporation in the year or in any of the five preceding taxation years to

  • (i) a registered charity,

  • (ii) a registered Canadian amateur athletic association,

  • (iii) a corporation resident in Canada and described in paragraph 149(1)(i),

  • (iv) a municipality in Canada,

  • (iv.1) a municipal or public body performing the function of government in Canada,

  • (v) the United Nations or an agency thereof,

  • (vi) a university outside Canada that is prescribed to be a university the student body of which ordinarily includes students from Canada,

  • (vii) a charitable organization outside Canada to which Her Majesty in right of Canada has made a gift in the year or in the 12-month period preceding the year, or

  • (viii) Her Majesty in right of Canada or a province,

  not exceeding the lesser of the corporation’s income for the year and the amount determined by the formula

• Marginal note:Charitable gifts

  (a) the total of all amounts each of which is the eligible amount of a gift (other than a gift described in paragraph (b), (c) or (d)) made by the corporation in the year or in any of the five preceding taxation years to a qualified donee, not exceeding the lesser of the corporation’s income for the year and the amount determined by the formula

B

is the total of all amounts, each of which is that proportion of the corporation’s taxable capital gain for the taxation year in respect of a gift made by the corporation in the taxation year (in respect of which gift an eligible amount is described in this paragraph for the taxation year) that the eligible amount of the gift is of the corporation’s proceeds of disposition in respect of the gift,

• (B) the total of all amounts each of which is determined in respect of a disposition that is the making of a gift of property of the class by the corporation in the year (in respect of which gift an eligible amount is described in this paragraph for the taxation year) equal to the lesser of

  • (I) that proportion, of the amount by which the proceeds of disposition of the property exceeds any outlays and expenses, to the extent that they were made or incurred by the corporation for the purpose of making the disposition, that the eligible amount of the gift is of the corporation’s proceeds of disposition in respect of the gift, and

  • (II) that proportion, of the capital cost to the corporation of the property, that the eligible amount of the gift is of the corporation’s proceeds of disposition in respect of the gift;

• Marginal note:Gifts of medicine

  (a.1) the total of all amounts each of which is an amount, in respect of property that is the subject of an eligible medical gift made by the corporation in the taxation year or in any of the five preceding taxation years, determined by the formula

  A × B/C

  where

  A

  is the lesser of

  • (a) the cost to the corporation of the property, and

  • (b) 50 per cent of the amount, if any, by which the corporation’s proceeds of disposition of the property in respect of the gift exceeds the cost to the corporation of the property;

  B

  is the eligible amount of the gift; and

  C

  is the corporation’s proceeds of disposition of the property in respect of the gift.

• Marginal note:Gifts to Her Majesty

  (b) the total of all amounts each of which is the eligible amount of a gift (other than a gift described in paragraph (c) or (d)) made by the corporation to Her Majesty in right of Canada or of a province

• Marginal note:Gifts to institutions

  (c) the total of all amounts each of which is the eligible amount of a gift (other than a gift described in paragraph (d)) of an object that the Canadian Cultural Property Export Review Board has determined meets the criteria set out in paragraphs 29(3)(b) and (c) of the Cultural Property Export and Import Act, which gift was made by the corporation in the year or in any of the five preceding taxation years to an institution or a public authority in Canada that was, at the time the gift was made, designated under subsection 32(2) of that Act either generally or for a specified purpose related to that object; and

• (i) Her Majesty in right of Canada or of a province, a municipality in Canada or a municipal or public body performing a function of government in Canada, or

• Marginal note:Ecological gifts

  (d) the total of all amounts each of which is the eligible amount of a gift of land (including a covenant or an easement to which land is subject or, in the case of land in the Province of Quebec, a real servitude) if

  • (i) the fair market value of the gift is certified by the Minister of the Environment,

  • (ii) the land is certified by that Minister, or by a person designated by that Minister, to be ecologically sensitive land, the conservation and protection of which is, in the opinion of that Minister or the designated person, important to the preservation of Canada’s environmental heritage, and

  • (iii) the gift was made by the corporation in the year or in any of the five preceding taxation years to

    • (A) Her Majesty in right of Canada or of a province,

    • (B) a municipality in Canada,

    • (C) a municipal or public body performing a function of government in Canada, or

    • (D) a registered charity one of the main purposes of which is, in the opinion of that Minister, the conservation and protection of Canada’s environmental heritage, and that is approved by that Minister or the designated person in respect of the gift.

• Marginal note:Proof of gift

  (2) An eligible amount of a gift shall not be included for the purpose of determining a deduction under subsection (1) unless the making of the gift is evidenced by filing with the Minister

• Marginal note:Where subsection (3) applies

  (2.1) Subsection (3) applies in circumstances where

  • (a) a corporation makes a gift at any time of

    • (i) capital property to a donee described in paragraph (1)(a), (b) or (d), or

    • (ii) in the case of a corporation not resident in Canada, real or immovable property situated in Canada to a prescribed donee who provides an undertaking, in a form satisfactory to the Minister, to the effect that the property will be held for use in the public interest; and

  • (b) the fair market value of the property otherwise determined at that time exceeds

    • (i) in the case of depreciable property of a prescribed class, the lesser of the undepreciated capital cost of that class at the end of the taxation year of the corporation that includes that time (determined without reference to the proceeds of disposition designated in respect of the property under subsection (3)) and the adjusted cost base to the corporation of the property immediately before that time, and

    • (ii) in any other case, the adjusted cost base to the corporation of the property immediately before that time.

• Marginal note:Gifts of capital property

  (3) If this subsection applies in respect of a gift by a corporation of property, and the corporation designates an amount in respect of the gift in its return of income under section 150 for the year in which the gift is made, the amount so designated is deemed to be its proceeds of disposition of the property and, for the purpose of subsection 248(31), the fair market value of the gift, but the amount so designated may not exceed the fair market value of the property otherwise determined and may not be less than the greater of

  • (a) in the case of a gift made after December 20, 2002, the amount of the advantage, if any, in respect of the gift, and

  • (b) the amount determined under subparagraph (2.1)(b)(i) or (ii), as the case may be, in respect of the property.

• (i) capital property to a qualified donee, or

• Marginal note:Gifts made by partnership

  (4) If at the end of a fiscal period of a partnership a corporation is a member of the partnership, its share of any amount that would, if the partnership were a person, be the eligible amount of a gift made by the partnership to any donee is, for the purpose of this section, deemed to be the eligible amount of a gift made to that donee by the corporation in its taxation year in which the fiscal period of the partnership ends.

• (b) where the gift is a covenant or an easement to which land is subject or, in the case of land in the Province of Quebec, a real servitude, the greater of