I-3 - Taxation Act

Section 752.0.10.0.1 Disposition versions

2009-05-15

752.0.10.0.1. For the purposes of section 752.0.8, a payment in respect of a life annuity under a pension plan is deemed to include a payment in respect of bridging benefits, being benefits payable under a registered pension plan on a periodic basis and not less frequently than annually to an individual if

(a)  the individual or the individual’s spouse or former spouse was a member, within the meaning of section 965.0.1, of the registered pension plan;

(b)  the benefits are payable for a period that ends no later than the end of the month following the month in which the member reaches 65 years of age or would have reached that age but for the member’s death; and

(c)  the amount, expressed on an annual basis, of the benefits payable to the individual for a calendar year does not exceed the total of the maximum amount of benefits payable for that year under Part I of the Old Age Security Act (R.S.C. 1985, c. O-9) and the maximum amount of benefits, other than disability, death or survivor benefits, payable for that year under either the Act respecting the Québec Pension Plan (chapter R-9) or a similar plan within the meaning of paragraph u of section 1 of that Act.

2009, c. 5, s. 278.