I-3 - Taxation Act

Section 691.2 Disposition versions

2009-05-15

691.2. Despite section 688, the rules set out in section 688.1 apply at any time to property distributed after 20 December 2002 to a beneficiary by a personal trust or a trust prescribed for the purposes of section 688, if

(a)  at a particular time before 21 December 2002 there was a qualifying disposition, within the meaning assigned by section 692.5, of the property, or of other property for which the property is substituted, by a particular partnership or a particular corporation to a trust; and

(b)  the beneficiary is neither the particular partnership nor the particular corporation.

2009, c. 5, s. 229.