I-3 - Taxation Act

Section 869.12 Disposition versions

2022-06-08

869.12. If contributions have been received by an employee life and health trust from more than one employer, the trust is deemed to be a separate trust established in respect of the property held for the benefit of beneficiaries described in subparagraph i or ii of subparagraph d of the first paragraph of section 869.2 in respect of a particular employer, if

(a)  the trustee makes a valid election under paragraph a of subsection 12 of section 144.1 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)); and

(b)  under the terms of the trust, contributions from the employer and the income derived from those contributions accrue solely for the benefit of those beneficiaries.

Chapter V.2 of Title II of Book I applies in relation to an election made under paragraph a of subsection 12 of section 144.1 of the Income Tax Act.

2011, c. 6, s. 174; 2022, c. 23, s. 78.

2011-06-06

869.12. If contributions have been received by an employee life and health trust from more than one employer, the trust is deemed to be a separate trust established in respect of the property held for the benefit of beneficiaries described in subparagraph i or ii of paragraph d of section 869.2 in respect of a particular employer, if

(a)  the trustee makes a valid election under paragraph a of subsection 12 of section 144.1 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)); and

(b)  under the terms of the trust, contributions from the employer and the income derived from those contributions accrue solely for the benefit of those beneficiaries.

Chapter V.2 of Title II of Book I applies in relation to an election made under paragraph a of subsection 12 of section 144.1 of the Income Tax Act.

2011, c. 6, s. 174.