I-3 - Taxation Act

Section 688.3 Disposition versions

2010-10-27

688.3. The rules in section 688.4 apply in respect of a trust’s distribution of property to a taxpayer if

(a)  the distribution is a SIFT trust wind-up event to which section 569.0.2 does not apply;

(b)  the property is a share and all the shares distributed on any SIFT trust wind-up event of the trust are of a single class of shares of the capital stock of a taxable Canadian corporation; and

(c)  where the trust is a SIFT wind-up entity, the distribution occurs no more than 60 days after the first SIFT trust wind-up event of the trust or, if it is earlier, the first distribution to the trust that is a SIFT trust wind-up event of another trust.

2010, c. 25, s. 55.