I-3 - Taxation Act

Section 965.0.25 Disposition versions

2015-10-21

965.0.25. There may be deducted in computing the income of a member of a PRPP for the taxation year in which the member dies, an amount not exceeding the amount determined, after all amounts payable from the member’s account under the PRPP have been distributed, by the formula

A - B.

In the formula in the first paragraph,

(a)  A is the aggregate of all amounts each of which is an amount in respect of the member’s account

i.  included in computing the member’s income under section 965.0.28 because of the application of section 965.0.30,

ii.  included in computing the income of another taxpayer under section 965.0.32 or 965.0.34, or

iii.  transferred in accordance with section 965.0.35 in circumstances described in subparagraph iii of paragraph b of that section; and

(b)  B is the aggregate of all distributions made from the member’s account after the member’s death.

2015, c. 21, s. 351.