I-3 - Taxation Act

Section 785.0.1 Disposition versions

2023-09-26

785.0.1. In this chapter,

“excluded right or interest” of an individual means

(a)  a right of the individual under, or an interest of the individual in a trust governed by,

i.  a registered retirement savings plan or a new plan referred to in section 914,

ii.  a registered retirement income fund,

iii.  a registered education savings plan,

iii.1.  a registered disability savings plan,

iii.2.  a tax-free savings account,

iii.3.  a first home savings account,

iv.  a deferred profit sharing plan or a revoked plan referred to in section 879,

v.  a profit sharing plan,

vi.  an employee benefit plan, other than a plan described in subparagraph i or ii of paragraph b,

vi.1.  an employee life and health trust,

vii.  a plan or arrangement, other than an employee benefit plan, under which the individual has a right to receive in a year remuneration in respect of services rendered by the individual in the year or a prior year,

viii.  a pension plan, other than an employee benefit plan,

ix.  a retirement compensation arrangement,

x.  a foreign retirement arrangement, or

xi.  a registered supplementary unemployment benefit plan;

(b)  a right of the individual to a benefit under an employee benefit plan, to the extent that the benefit can reasonably be considered to be attributable to services rendered in Canada, that is

i.  a plan or arrangement described in paragraph j of section 47.16 that would, but for paragraphs j and k of that section, be a salary deferral arrangement, or

ii.  a plan or arrangement that would, but for paragraph c of section 47.16R1 of the Regulation respecting the Taxation Act (chapter I-3, r. 1), be a salary deferral arrangement;

(c)  a right of the individual under an agreement referred to in section 48;

(d)  a right of the individual to a retiring allowance;

(e)  a right of the individual under, or an interest of the individual in, a trust that is

i.  an employee trust,

ii.  an amateur athlete trust,

iii.  a cemetery care trust, or

iv.  a trust governed by an eligible funeral arrangement;

(f)  a right of the individual to receive an amount under an annuity contract, an income-averaging annuity contract or an income-averaging annuity contract respecting income from artistic activities;

(g)  a right of the individual to a benefit under

i.  the Act respecting the Québec Pension Plan (chapter R-9) or any similar plan, within the meaning of that Act,

ii.  the Old Age Security Act (R.S.C. 1985, c. O-9),

iii.  (subparagraph repealed);

iv.  a plan or arrangement instituted by the social security legislation of a country other than Canada or of a state, province or other political subdivision of such a country;

(h)  a right of the individual to a benefit described in any of paragraphs b to e of section 311;

(i)  a right of the individual to a payment out of a NISA Fund No. 2 or out of a farm income stabilization account;

(j)  an interest of the individual in a personal trust resident in Canada if the interest was never acquired for consideration and did not arise as a consequence of a qualifying disposition by the individual, within the meaning that would be assigned by section 692.5 if that section were read without reference to paragraphs h and i thereof;

(k)  an interest of the individual in a testamentary trust not resident in Canada that is a succession that arose on and as a consequence of an individual’s death if

i.  the interest was never acquired for consideration, and

ii.  the succession has been in existence for no more than 36 months; or

(l)  an interest of the individual in a life insurance policy in Canada, except for that part of the policy in respect of which the individual is deemed by section 851.11 to have an interest in a related segregated fund trust relating to that policy;

“reportable property” of an individual at a particular time means any property other than

(a)  money that is legal tender in Canada and deposits of such money;

(b)  property that would be an excluded right or interest of the individual if the definition of “excluded right or interest” were read without reference to paragraphs c, j and l of that definition;

(c)  if the individual is not a trust and was not, during the 120-month period that ends at the particular time, resident in Canada for more than 60 months, property described in subparagraph iv of subparagraph b of the first paragraph of section 785.2 that is not taxable Canadian property; and

(d)  any item of personal-use property the fair market value of which, at the particular time, is less than $10,000;

“specified immovable” means either an immovable property situated in Québec that is used principally for the purpose of earning or producing gross revenue that is rent, or any interest in or option in respect of the property, whether or not the property exists at that time.

2004, c. 8, s. 153; 2004, c. 21, s. 223; 2005, c. 23, s. 120; 2009, c. 5, s. 334; 2009, c. 15, s. 159; 2011, c. 6, s. 171; 2013, c. 10, s. 68; 2017, c. 1, s. 238; 2023, c. 19, s. 61.

2017-02-08

785.0.1. In this chapter,

“excluded right or interest” of an individual means

(a)  a right of the individual under, or an interest of the individual in a trust governed by,

i.  a registered retirement savings plan or a new plan referred to in section 914,

ii.  a registered retirement income fund,

iii.  a registered education savings plan,

iii.1.  a registered disability savings plan,

iii.2.  a tax-free savings account,

iv.  a deferred profit sharing plan or a revoked plan referred to in section 879,

v.  a profit sharing plan,

vi.  an employee benefit plan, other than a plan described in subparagraph i or ii of paragraph b,

vi.1.  an employee life and health trust,

vii.  a plan or arrangement, other than an employee benefit plan, under which the individual has a right to receive in a year remuneration in respect of services rendered by the individual in the year or a prior year,

viii.  a pension plan, other than an employee benefit plan,

ix.  a retirement compensation arrangement,

x.  a foreign retirement arrangement, or

xi.  a registered supplementary unemployment benefit plan;

(b)  a right of the individual to a benefit under an employee benefit plan, to the extent that the benefit can reasonably be considered to be attributable to services rendered in Canada, that is

i.  a plan or arrangement described in paragraph j of section 47.16 that would, but for paragraphs j and k of that section, be a salary deferral arrangement, or

ii.  a plan or arrangement that would, but for paragraph c of section 47.16R1 of the Regulation respecting the Taxation Act (chapter I-3, r. 1), be a salary deferral arrangement;

(c)  a right of the individual under an agreement referred to in section 48;

(d)  a right of the individual to a retiring allowance;

(e)  a right of the individual under, or an interest of the individual in, a trust that is

i.  an employee trust,

ii.  an amateur athlete trust,

iii.  a cemetery care trust, or

iv.  a trust governed by an eligible funeral arrangement;

(f)  a right of the individual to receive an amount under an annuity contract, an income-averaging annuity contract or an income-averaging annuity contract respecting income from artistic activities;

(g)  a right of the individual to a benefit under

i.  the Act respecting the Québec Pension Plan (chapter R-9) or any similar plan, within the meaning of that Act,

ii.  the Old Age Security Act (R.S.C. 1985, c. O-9),

iii.  (subparagraph repealed);

iv.  a plan or arrangement instituted by the social security legislation of a country other than Canada or of a state, province or other political subdivision of such a country;

(h)  a right of the individual to a benefit described in any of paragraphs b to e of section 311;

(i)  a right of the individual to a payment out of a NISA Fund No. 2 or out of a farm income stabilization account;

(j)  an interest of the individual in a personal trust resident in Canada if the interest was never acquired for consideration and did not arise as a consequence of a qualifying disposition by the individual, within the meaning that would be assigned by section 692.5 if that section were read without reference to paragraphs h and i thereof;

(k)  an interest of the individual in a testamentary trust not resident in Canada that is a succession that arose on and as a consequence of an individual’s death if

i.  the interest was never acquired for consideration, and

ii.  the succession has been in existence for no more than 36 months; or

(l)  an interest of the individual in a life insurance policy in Canada, except for that part of the policy in respect of which the individual is deemed by section 851.11 to have an interest in a related segregated fund trust relating to that policy;

“reportable property” of an individual at a particular time means any property other than

(a)  money that is legal tender in Canada and deposits of such money;

(b)  property that would be an excluded right or interest of the individual if the definition of “excluded right or interest” were read without reference to paragraphs c, j and l of that definition;

(c)  if the individual is not a trust and was not, during the 120-month period that ends at the particular time, resident in Canada for more than 60 months, property described in subparagraph iv of subparagraph b of the first paragraph of section 785.2 that is not taxable Canadian property; and

(d)  any item of personal-use property the fair market value of which, at the particular time, is less than $10,000;

“specified immovable” means either an immovable property situated in Québec that is used principally for the purpose of earning or producing gross revenue that is rent, or any interest in or option in respect of the property, whether or not the property exists at that time.

2004, c. 8, s. 153; 2004, c. 21, s. 223; 2005, c. 23, s. 120; 2009, c. 5, s. 334; 2009, c. 15, s. 159; 2011, c. 6, s. 171; 2013, c. 10, s. 68; 2017, c. 1, s. 238.

2013-06-05

785.0.1. In this chapter,

“excluded right or interest” of an individual means

(a)  a right of the individual under, or an interest of the individual in a trust governed by,

i.  a registered retirement savings plan or a new plan referred to in section 914,

ii.  a registered retirement income fund,

iii.  a registered education savings plan,

iii.1.  a registered disability savings plan,

iii.2.  a tax-free savings account,

iv.  a deferred profit sharing plan or a revoked plan referred to in section 879,

v.  a profit sharing plan,

vi.  an employee benefit plan, other than a plan described in subparagraph i or ii of paragraph b,

vi.1.  an employee life and health trust,

vii.  a plan or arrangement, other than an employee benefit plan, under which the individual has a right to receive in a year remuneration in respect of services rendered by the individual in the year or a prior year,

viii.  a pension plan, other than an employee benefit plan,

ix.  a retirement compensation arrangement,

x.  a foreign retirement arrangement, or

xi.  a registered supplementary unemployment benefit plan;

(b)  a right of the individual to a benefit under an employee benefit plan, to the extent that the benefit can reasonably be considered to be attributable to services rendered in Canada, that is

i.  a plan or arrangement described in paragraph j of section 47.16 that would, but for paragraphs j and k of that section, be a salary deferral arrangement, or

ii.  a plan or arrangement that would, but for paragraph c of section 47.16R1 of the Regulation respecting the Taxation Act (chapter I-3, r. 1), be a salary deferral arrangement;

(c)  a right of the individual under an agreement referred to in section 48;

(d)  a right of the individual to a retiring allowance;

(e)  a right of the individual under, or an interest of the individual in, a trust that is

i.  an employee trust,

ii.  an amateur athlete trust,

iii.  a cemetery care trust, or

iv.  a trust governed by an eligible funeral arrangement;

(f)  a right of the individual to receive an amount under an annuity contract, an income-averaging annuity contract or an income-averaging annuity contract respecting income from artistic activities;

(g)  a right of the individual to a benefit under

i.  the Act respecting the Québec Pension Plan (chapter R-9) or any similar plan, within the meaning of that Act,

ii.  the Old Age Security Act (R.S.C. 1985, c. O-9),

iii.  (subparagraph repealed);

iv.  a plan or arrangement instituted by the social security legislation of a country other than Canada or of a state, province or other political subdivision of such a country;

(h)  a right of the individual to a benefit described in any of paragraphs b to e of section 311;

(i)  a right of the individual to a payment out of a NISA Fund No. 2 or out of a farm income stabilization account;

(j)  an interest of the individual in a personal trust resident in Canada if the interest was never acquired for consideration and did not arise as a consequence of a qualifying disposition by the individual, within the meaning that would be assigned by section 692.5 if that section were read without reference to paragraphs h and i thereof;

(k)  an interest of the individual in a testamentary trust not resident in Canada if the interest was never acquired for consideration; or

(l)  an interest of the individual in a life insurance policy in Canada, except for that part of the policy in respect of which the individual is deemed by section 851.11 to have an interest in a related segregated fund trust relating to that policy;

“reportable property” of an individual at a particular time means any property other than

(a)  money that is legal tender in Canada and deposits of such money;

(b)  property that would be an excluded right or interest of the individual if the definition of “excluded right or interest” were read without reference to paragraphs c, j and l of that definition;

(c)  if the individual is not a trust and was not, during the 120-month period that ends at the particular time, resident in Canada for more than 60 months, property described in subparagraph iv of subparagraph b of the first paragraph of section 785.2 that is not taxable Canadian property; and

(d)  any item of personal-use property the fair market value of which, at the particular time, is less than $10,000;

“specified immovable” means either an immovable property situated in Québec that is used principally for the purpose of earning or producing gross revenue that is rent, or any interest in or option in respect of the property, whether or not the property exists at that time.

2004, c. 8, s. 153; 2004, c. 21, s. 223; 2005, c. 23, s. 120; 2009, c. 5, s. 334; 2009, c. 15, s. 159; 2011, c. 6, s. 171; 2013, c. 10, s. 68.

2011-06-06

785.0.1. In this chapter,

“excluded right or interest” of an individual means

(a)  a right of the individual under, or an interest of the individual in a trust governed by,

i.  a registered retirement savings plan or a new plan referred to in section 914,

ii.  a registered retirement income fund,

iii.  a registered education savings plan,

iii.1.  a registered disability savings plan,

iii.2.  a tax-free savings account,

iv.  a deferred profit sharing plan or a revoked plan referred to in section 879,

v.  a profit sharing plan,

vi.  an employee benefit plan, other than a plan described in subparagraph i or ii of paragraph b,

vi.1.  an employee life and health trust,

vii.  a plan or arrangement, other than an employee benefit plan, under which the individual has a right to receive in a year remuneration in respect of services rendered by the individual in the year or a prior year,

viii.  a pension plan, other than an employee benefit plan,

ix.  a retirement compensation arrangement,

x.  a foreign retirement arrangement, or

xi.  a registered supplementary unemployment benefit plan;

(b)  a right of the individual to a benefit under an employee benefit plan, to the extent that the benefit can reasonably be considered to be attributable to services rendered in Canada, that is

i.  a plan or arrangement described in paragraph j of section 47.16 that would, but for paragraphs j and k of that section, be a salary deferral arrangement, or

ii.  a plan or arrangement that would, but for paragraph c of section 47.16R1 of the Regulation respecting the Taxation Act (chapter I-3, r. 1), be a salary deferral arrangement;

(c)  a right of the individual under an agreement referred to in section 48;

(d)  a right of the individual to a retiring allowance;

(e)  a right of the individual under, or an interest of the individual in, a trust that is

i.  an employee trust,

ii.  an amateur athlete trust,

iii.  a cemetery care trust, or

iv.  a trust governed by an eligible funeral arrangement;

(f)  a right of the individual to receive an amount under an annuity contract, an income-averaging annuity contract or an income-averaging annuity contract respecting income from artistic activities;

(g)  a right of the individual to a benefit under

i.  the Act respecting the Québec Pension Plan (chapter R-9) or any similar plan, within the meaning of that Act,

ii.  the Old Age Security Act (R.S.C. 1985, c. O-9),

iii.  a provincial pension plan prescribed by regulation for the purposes of paragraph v of section 60 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), or

iv.  a plan or arrangement instituted by the social security legislation of a country other than Canada or of a state, province or other political subdivision of such a country;

(h)  a right of the individual to a benefit described in any of paragraphs b to e of section 311;

(i)  a right of the individual to a payment out of a NISA Fund No. 2 or out of a farm income stabilization account;

(j)  an interest of the individual in a personal trust resident in Canada if the interest was never acquired for consideration and did not arise as a consequence of a qualifying disposition by the individual, within the meaning that would be assigned by section 692.5 if that section were read without reference to paragraphs h and i thereof;

(k)  an interest of the individual in a testamentary trust not resident in Canada if the interest was never acquired for consideration; or

(l)  an interest of the individual in a life insurance policy in Canada, except for that part of the policy in respect of which the individual is deemed by section 851.11 to have an interest in a related segregated fund trust relating to that policy;

“reportable property” of an individual at a particular time means any property other than

(a)  money that is legal tender in Canada and deposits of such money;

(b)  property that would be an excluded right or interest of the individual if the definition of “excluded right or interest” were read without reference to paragraphs c, j and l of that definition;

(c)  if the individual is not a trust and was not, during the 120-month period that ends at the particular time, resident in Canada for more than 60 months, property described in subparagraph iv of subparagraph b of the first paragraph of section 785.2 that is not taxable Canadian property; and

(d)  any item of personal-use property the fair market value of which, at the particular time, is less than $10,000.

2004, c. 8, s. 153; 2004, c. 21, s. 223; 2005, c. 23, s. 120; 2009, c. 5, s. 334; 2009, c. 15, s. 159; 2011, c. 6, s. 171.

2009-06-04

785.0.1. In this chapter,

“excluded right or interest” of an individual means

(a)  a right of the individual under, or an interest of the individual in a trust governed by,

i.  a registered retirement savings plan or a new plan referred to in section 914,

ii.  a registered retirement income fund,

iii.  a registered education savings plan,

iii.1.  a registered disability savings plan,

iii.2.  a tax-free savings account,

iv.  a deferred profit sharing plan or a revoked plan referred to in section 879,

v.  a profit sharing plan,

vi.  an employee benefit plan, other than a plan described in subparagraph i or ii of paragraph b,

vii.  a plan or arrangement, other than an employee benefit plan, under which the individual has a right to receive in a year remuneration in respect of services rendered by the individual in the year or a prior year,

viii.  a pension plan, other than an employee benefit plan,

ix.  a retirement compensation arrangement,

x.  a foreign retirement arrangement, or

xi.  a registered supplementary unemployment benefit plan;

(b)  a right of the individual to a benefit under an employee benefit plan, to the extent that the benefit can reasonably be considered to be attributable to services rendered in Canada, that is

i.  a plan or arrangement described in paragraph j of section 47.16 that would, but for paragraphs j and k of that section, be a salary deferral arrangement, or

ii.  a plan or arrangement that would, but for paragraph c of section 47.16R1 of the Regulation respecting the Taxation Act (R.R.Q., c. I-3, r. 1), be a salary deferral arrangement;

(c)  a right of the individual under an agreement referred to in section 48;

(d)  a right of the individual to a retiring allowance;

(e)  a right of the individual under, or an interest of the individual in, a trust that is

i.  an employee trust,

ii.  an amateur athlete trust,

iii.  a cemetery care trust, or

iv.  a trust governed by an eligible funeral arrangement;

(f)  a right of the individual to receive an amount under an annuity contract, an income-averaging annuity contract or an income-averaging annuity contract respecting income from artistic activities;

(g)  a right of the individual to a benefit under

i.  the Act respecting the Québec Pension Plan (chapter R-9) or any similar plan, within the meaning of that Act,

ii.  the Old Age Security Act (R.S.C. 1985, c. O-9),

iii.  a provincial pension plan prescribed by regulation for the purposes of paragraph v of section 60 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), or

iv.  a plan or arrangement instituted by the social security legislation of a country other than Canada or of a state, province or other political subdivision of such a country;

(h)  a right of the individual to a benefit described in any of paragraphs b to e of section 311;

(i)  a right of the individual to a payment out of a NISA Fund No. 2 or out of a farm income stabilization account;

(j)  an interest of the individual in a personal trust resident in Canada if the interest was never acquired for consideration and did not arise as a consequence of a qualifying disposition by the individual, within the meaning that would be assigned by section 692.5 if that section were read without reference to paragraphs h and i thereof;

(k)  an interest of the individual in a testamentary trust not resident in Canada if the interest was never acquired for consideration; or

(l)  an interest of the individual in a life insurance policy in Canada, except for that part of the policy in respect of which the individual is deemed by section 851.11 to have an interest in a related segregated fund trust relating to that policy;

“reportable property” of an individual at a particular time means any property other than

(a)  money that is legal tender in Canada and deposits of such money;

(b)  property that would be an excluded right or interest of the individual if the definition of “excluded right or interest” were read without reference to paragraphs c, j and l of that definition;

(c)  if the individual is not a trust and was not, during the 120-month period that ends at the particular time, resident in Canada for more than 60 months, property described in subparagraph iv of subparagraph b of the first paragraph of section 785.2 that is not taxable Canadian property; and

(d)  any item of personal-use property the fair market value of which, at the particular time, is less than $10,000.

2004, c. 8, s. 153; 2004, c. 21, s. 223; 2005, c. 23, s. 120; 2009, c. 5, s. 334; 2009, c. 15, s. 159.

2009-05-15

785.0.1. In this chapter,

“excluded right or interest” of an individual means

(a)  a right of the individual under, or an interest of the individual in a trust governed by,

i.  a registered retirement savings plan or a new plan referred to in section 914,

ii.  a registered retirement income fund,

iii.  a registered education savings plan,

iv.  a deferred profit sharing plan or a revoked plan referred to in section 879,

v.  a profit sharing plan,

vi.  an employee benefit plan, other than a plan described in subparagraph i or ii of paragraph b,

vii.  a plan or arrangement, other than an employee benefit plan, under which the individual has a right to receive in a year remuneration in respect of services rendered by the individual in the year or a prior year,

viii.  a pension plan, other than an employee benefit plan,

ix.  a retirement compensation arrangement,

x.  a foreign retirement arrangement, or

xi.  a registered supplementary unemployment benefit plan;

(b)  a right of the individual to a benefit under an employee benefit plan, to the extent that the benefit can reasonably be considered to be attributable to services rendered in Canada, that is

i.  a plan or arrangement described in paragraph j of section 47.16 that would, but for paragraphs j and k of that section, be a salary deferral arrangement, or

ii.  a plan or arrangement that would, but for paragraph c of section 47.16R1 of the Regulation respecting the Taxation Act (R.R.Q., 1981, c. I-3, r. 1), be a salary deferral arrangement;

(c)  a right of the individual under an agreement referred to in section 48;

(d)  a right of the individual to a retiring allowance;

(e)  a right of the individual under, or an interest of the individual in, a trust that is

i.  an employee trust,

ii.  an amateur athlete trust,

iii.  a cemetery care trust, or

iv.  a trust governed by an eligible funeral arrangement;

(f)  a right of the individual to receive an amount under an annuity contract, an income-averaging annuity contract or an income-averaging annuity contract respecting income from artistic activities;

(g)  a right of the individual to a benefit under

i.  the Act respecting the Québec Pension Plan (chapter R-9) or any similar plan, within the meaning of that Act,

ii.  the Old Age Security Act (R.S.C. 1985, c. O-9),

iii.  a provincial pension plan prescribed by regulation for the purposes of paragraph v of section 60 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), or

iv.  a plan or arrangement instituted by the social security legislation of a country other than Canada or of a state, province or other political subdivision of such a country;

(h)  a right of the individual to a benefit described in any of paragraphs b to e of section 311;

(i)  a right of the individual to a payment out of a NISA Fund No. 2 or out of a farm income stabilization account;

(j)  an interest of the individual in a personal trust resident in Canada if the interest was never acquired for consideration and did not arise as a consequence of a qualifying disposition by the individual, within the meaning that would be assigned by section 692.5 if that section were read without reference to paragraphs h and i thereof;

(k)  an interest of the individual in a testamentary trust not resident in Canada if the interest was never acquired for consideration; or

(l)  an interest of the individual in a life insurance policy in Canada, except for that part of the policy in respect of which the individual is deemed by section 851.11 to have an interest in a related segregated fund trust relating to that policy;

“reportable property” of an individual at a particular time means any property other than

(a)  money that is legal tender in Canada and deposits of such money;

(b)  property that would be an excluded right or interest of the individual if the definition of “excluded right or interest” were read without reference to paragraphs c, j and l of that definition;

(c)  if the individual is not a trust and was not, during the 120-month period that ends at the particular time, resident in Canada for more than 60 months, property described in subparagraph iv of subparagraph b of the first paragraph of section 785.2 that is not taxable Canadian property; and

(d)  any item of personal-use property the fair market value of which, at the particular time, is less than $10,000.

2004, c. 8, s. 153; 2004, c. 21, s. 223; 2005, c. 23, s. 120; 2009, c. 5, s. 334.

2006-03-01

785.0.1. In this chapter,

“excluded right or interest” of an individual means

(a)  a right of the individual under, or an interest of the individual in a trust governed by,

i.  a registered retirement savings plan or a new plan referred to in section 914,

ii.  a registered retirement income fund,

iii.  a registered education savings plan,

iv.  a deferred profit sharing plan or a revoked plan referred to in section 879,

v.  a profit sharing plan,

vi.  an employee benefit plan, other than a plan described in subparagraph i or ii of paragraph b,

vii.  a plan or arrangement, other than an employee benefit plan, under which the individual has a right to receive in a year remuneration in respect of services rendered by the individual in the year or a prior year,

viii.  a pension plan, other than an employee benefit plan,

ix.  a retirement compensation arrangement,

x.  a foreign retirement arrangement, or

xi.  a registered supplementary unemployment benefit plan;

(b)  a right of the individual to a benefit under an employee benefit plan, to the extent that the benefit can reasonably be considered to be attributable to services rendered in Canada, that is

i.  a plan or arrangement described in paragraph j of section 47.16 that would, but for paragraphs j and k of that section, be a salary deferral arrangement, or

ii.  a plan or arrangement that would, but for paragraph c of section 47.16R1 of the Regulation respecting the Taxation Act (R.R.Q., 1981, chapter I-3, r.1), be a salary deferral arrangement;

(c)  a right of the individual under an agreement referred to in section 48;

(d)  a right of the individual to a retiring allowance;

(e)  a right of the individual under, or an interest of the individual in, a trust that is

i.  an employee trust,

ii.  an amateur athlete trust,

iii.  a cemetery care trust, or

iv.  a trust governed by an eligible funeral arrangement;

(f)  a right of the individual to receive an amount under an annuity contract, an income-averaging annuity contract or an income-averaging annuity contract respecting income from artistic activities;

(g)  a right of the individual to a benefit under

i.  the Act respecting the Québec Pension Plan (chapter R-9) or any similar plan, within the meaning of that Act,

ii.  the Old Age Security Act (Revised Statutes of Canada, 1985, chapter O-9),

iii.  a provincial pension plan prescribed by regulation for the purposes of paragraph v of section 60 of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement), or

iv.  a plan or arrangement instituted by the social security legislation of a country other than Canada or of a state, province or other political subdivision of such a country;

(h)  a right of the individual to a benefit described in any of paragraphs b to e of section 311;

(i)  a right of the individual to a payment out of a NISA Fund No. 2 or out of a farm income stabilization account;

(j)  an interest of the individual in a personal trust resident in Canada if the interest was never acquired for consideration and did not arise as a consequence of a qualifying disposition by the individual, within the meaning that would be assigned by section 692.5 if that section were read without reference to paragraphs h and i thereof;

(k)  an interest of the individual in a testamentary trust not resident in Canada if the interest was never acquired for consideration; or

(l)  an interest of the individual in a life insurance policy in Canada, except for that part of the policy in respect of which the individual is deemed by section 851.11 to have an interest in a related segregated fund trust relating to that policy;

“reportable property” of an individual at a particular time means any property other than

(a)  money that is legal tender in Canada and deposits of such money;

(b)  property that would be an excluded right or interest of the individual if the definition of “excluded right or interest” were read without reference to paragraphs c, j and l of that definition;

(c)  if the individual is not a trust and was not, during the 120-month period that ends at the particular time, resident in Canada for more than 60 months, property described in subparagraph iv of paragraph b of section 785.2 that is not taxable Canadian property; and

(d)  any item of personal-use property the fair market value of which, at the particular time, is less than $10,000.

2004, c. 8, s. 153; 2004, c. 21, s. 223; 2005, c. 23, s. 120.