I-3, r. 1 - Regulation respecting the Taxation Act

Section 336r11 Disposition versions

2012-09-01

336R11. Where the second paragraph of section 336R8 would apply to an annuity contract if the words “on or after the later of 1 January 1970 and the tax anniversary date” were substituted for the words “before the later of 1 January 1970 and the tax anniversary date”, the adjusted purchase price of a taxpayer’s interest in an annuity contract is the greater of

(a)  the aggregate of

i.  the amount that would be determined in respect of that interest under section 336R9 or 336R10, if the date referred to in either of those sections were the tax anniversary date of the contract, and

ii.  the adjusted purchase price that would be determined in respect of that interest if, in each of paragraphs a to c, f and g of section 976 of the Act and in paragraph a of section 976.1 of the Act, the words “and after the tax anniversary date” were added immediately after the words “before the particular time”; and

(b)  the amount determined under section 336R7 in respect of that interest.

s. 336R15; O.C. 2962-82, s. 34; O.C. 500-83, s. 34; O.C. 7-87, s. 13; O.C. 134-2009, s. 1.