I-3 - Taxation Act

Section 428 Disposition versions

2006-03-01

428. In computing the income of an individual for the taxation year in which he died, an amount of interest, rent, royalty, annuity, remuneration from an office or employment, or other amount payable periodically, except an amount with respect to an interest in an annuity contract to which paragraph b of section 967 applies, that was not paid before his death, is deemed to have accrued up to that time in equal daily amounts in the period for which such amount was payable and shall be included in computing his income.

Furthermore, for the purposes of the same computation, the reference in paragraph u of section 87 to “in respect of a property acquired or an expenditure made in a preceding taxation year in computing the taxpayer’s tax payable for” shall read as a reference to “in computing the tax payable for the year or”.

1972, c. 23, s. 360; 1984, c. 15, s. 95; 1990, c. 59, s. 170.