I-3 - Taxation Act

Section 342 Disposition versions

2006-03-01

342. An individual resident in Canada may deduct in computing his income for a year, an amount which he pays in the year or within 60 days following the end of the year for the acquisition of an income-averaging annuity for himself, under a contract with a person licensed or otherwise authorized by the laws of Canada or a province to carry on in Canada or in a province an annuities business or to offer trustee services there, to the extent that such amount has not already been deducted the preceding year.

1972, c. 23, s. 311; 1972, c. 26, s. 44.