I-3 - Taxation Act

Section 924.1 Disposition versions

2006-03-01

924.1. Where, in respect of an amount required at any time in a taxation year to be included in computing the income of the spouse of an individual, all or part of a premium is, by virtue of section 931.1, included in computing the individual’s income for the year, the following rules apply:

(a)  the premium or part thereof, as the case may be, is deemed, for the purposes of sections 931.1 and 961.17.0.1, after that time, not to have been a premium paid to a registered retirement savings plan under which the individual’s spouse is the annuitant;

(b)  an amount equal to the premium or part thereof, as the case may be, may be deducted in computing the income of the spouse for the year.

1988, c. 18, s. 82; 1991, c. 25, s. 129.