I-3 - Taxation Act

Section 961.17.0.5 Disposition versions

2006-03-01

961.17.0.5. Where, in respect of an amount required, at any time in a taxation year, to be included in computing the income of the individual’s spouse, all or part of a premium has, by virtue of section 961.17.0.1, been 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, for the purposes of sections 931.1 and 961.17.0.1, after that time, deemed not to have been a premium paid to a registered retirement savings plan under which the individual’s spouse was the annuitant, within the meaning of paragraph b of section 905.1; and

(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. 105; 1991, c. 25, s. 152.