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I-3 - Taxation Act
Section 890.1
Disposition versions
890.1. In this Title, the expression
(a) “subject property of a retirement compensation arrangement” means property that is held in connection with the arrangement;
(b) “retirement compensation arrangement” means a plan or arrangement under which contributions, other than payments made to acquire an interest in a life insurance policy, are made by an employer or former employer of a taxpayer, or by a person with whom the employer or former employer does not deal at arm’s length, to another person or partnership, in this Title referred to as the “custodian”, in connection with benefits that are to be or may be received or enjoyed by any person on, after or in contemplation of any substantial change in the services rendered by the taxpayer, the retirement of the taxpayer or the loss of an office or employment of the taxpayer;
(c) “RCA trust” under a retirement compensation arrangement means
i. any trust governed by the arrangement; and
ii. any trust deemed by paragraph a of section 890.2 to be created in respect of subject property of the arrangement.
For the purposes of subparagraph b of the first paragraph, a retirement compensation arrangement does not include
(a) a registered pension plan;
(a.1) a pooled registered pension plan;
(b) a disability or income maintenance insurance plan under a policy with an insurance corporation;
(c) a deferred profit sharing plan;
(d) a profit sharing plan;
(e) a registered retirement savings plan;
(f) an employee trust;
(f.1) an employee life and health trust;
(g) a group sickness or accident insurance plan;
(h) a supplementary unemployment benefit plan;
(i) a trust described in paragraph m of section 998;
(j) a plan or arrangement established for the purpose of deferring the salary or wages of a professional athlete for his services as such with a team that participates in a league having regularly scheduled games, in this paragraph referred to as an “athlete’s plan”, where
i. the plan or arrangement would, but for paragraph j of section 47.16, be a salary deferral arrangement; and
ii. in the case of a Canadian team, the custodian of the plan or arrangement carries on business through a fixed place of business in Canada and is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee;
(k) a salary deferral arrangement, whether or not deferred amounts thereunder are required to be included as benefits under section 37 in computing a taxpayer’s income;
(l) a plan or arrangement, other than an athlete’s plan, that is maintained primarily for the benefit of persons not resident in Canada in respect of services rendered outside Canada;
(m) an insurance policy;
(n) a prescribed plan or arrangement.
For the purposes of the definition of “retirement compensation arrangement”, where a particular person holds property in trust under an arrangement that, if the property were held by another person, would be a retirement compensation arrangement, the arrangement is deemed to be a retirement compensation arrangement of which the particular person is the custodian.
890.1. In this Title, the expression
(a) “subject property of a retirement compensation arrangement” means property that is held in connection with the arrangement;
(b) “retirement compensation arrangement” means a plan or arrangement under which contributions, other than payments made to acquire an interest in a life insurance policy, are made by an employer or former employer of a taxpayer, or by a person with whom the employer or former employer does not deal at arm’s length, to another person or partnership, in this Title referred to as the “custodian”, in connection with benefits that are to be or may be received or enjoyed by any person on, after or in contemplation of any substantial change in the services rendered by the taxpayer, the retirement of the taxpayer or the loss of an office or employment of the taxpayer;
(c) “RCA trust” under a retirement compensation arrangement means
i. any trust governed by the arrangement; and
ii. any trust deemed by paragraph a of section 890.2 to be created in respect of subject property of the arrangement.
For the purposes of subparagraph b of the first paragraph, a retirement compensation arrangement does not include
(a) a registered pension plan;
(b) a disability or income maintenance insurance plan under a policy with an insurance corporation;
(c) a deferred profit sharing plan;
(d) a profit sharing plan;
(e) a registered retirement savings plan;
(f) an employee trust;
(f.1) an employee life and health trust;
(g) a group sickness or accident insurance plan;
(h) a supplementary unemployment benefit plan;
(i) a trust described in paragraph m of section 998;
(j) a plan or arrangement established for the purpose of deferring the salary or wages of a professional athlete for his services as such with a team that participates in a league having regularly scheduled games, in this paragraph referred to as an “athlete’s plan”, where
i. the plan or arrangement would, but for paragraph j of section 47.16, be a salary deferral arrangement; and
ii. in the case of a Canadian team, the custodian of the plan or arrangement carries on business through a fixed place of business in Canada and is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee;
(k) a salary deferral arrangement, whether or not deferred amounts thereunder are required to be included as benefits under section 37 in computing a taxpayer’s income;
(l) a plan or arrangement, other than an athlete’s plan, that is maintained primarily for the benefit of persons not resident in Canada in respect of services rendered outside Canada;
(m) an insurance policy;
(n) a prescribed plan or arrangement.
For the purposes of the definition of “retirement compensation arrangement”, where a particular person holds property in trust under an arrangement that, if the property were held by another person, would be a retirement compensation arrangement, the arrangement is deemed to be a retirement compensation arrangement of which the particular person is the custodian.
890.1. In this Title, the expression
(a) “subject property of a retirement compensation arrangement” means property that is held in connection with the arrangement;
(b) “retirement compensation arrangement” means a plan or arrangement under which contributions, other than payments made to acquire an interest in a life insurance policy, are made by an employer or former employer of a taxpayer, or by a person with whom the employer or former employer does not deal at arm’s length, to another person or partnership, in this Title referred to as the “custodian”, in connection with benefits that are to be or may be received or enjoyed by any person on, after or in contemplation of any substantial change in the services rendered by the taxpayer, the retirement of the taxpayer or the loss of an office or employment of the taxpayer;
(c) “RCA trust” under a retirement compensation arrangement means
i. any trust governed by the arrangement; and
ii. any trust deemed by paragraph a of section 890.2 to be created in respect of subject property of the arrangement.
For the purposes of subparagraph b of the first paragraph, a retirement compensation arrangement does not include
(a) a registered pension plan;
(b) a disability or income maintenance insurance plan under a policy with an insurance corporation;
(c) a deferred profit sharing plan;
(d) a profit sharing plan;
(e) a registered retirement savings plan;
(f) an employee trust;
(g) a group sickness or accident insurance plan;
(h) a supplementary unemployment benefit plan;
(i) a trust described in paragraph m of section 998;
(j) a plan or arrangement established for the purpose of deferring the salary or wages of a professional athlete for his services as such with a team that participates in a league having regularly scheduled games, in this paragraph referred to as an “athlete’s plan”, where
i. the plan or arrangement would, but for paragraph j of section 47.16, be a salary deferral arrangement; and
ii. in the case of a Canadian team, the custodian of the plan or arrangement carries on business through a fixed place of business in Canada and is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee;
(k) a salary deferral arrangement, whether or not deferred amounts thereunder are required to be included as benefits under section 37 in computing a taxpayer’s income;
(l) a plan or arrangement, other than an athlete’s plan, that is maintained primarily for the benefit of persons not resident in Canada in respect of services rendered outside Canada;
(m) an insurance policy;
(n) a prescribed plan or arrangement.
For the purposes of the definition of “retirement compensation arrangement”, where a particular person holds property in trust under an arrangement that, if the property were held by another person, would be a retirement compensation arrangement, the arrangement is deemed to be a retirement compensation arrangement of which the particular person is the custodian.
