Income Tax Regulations (C.R.C., c. 945)

Regulations are current to 2014-10-15 and last amended on 2014-06-19. Previous Versions

 [Repealed, SOR/2003-5, s. 3]

Estates and Trusts

  •  (1) Every person having the control of, or receiving income, gains or profits in a fiduciary capacity, or in a capacity analogous to a fiduciary capacity, shall make a return in prescribed form in respect thereof.

  • (2) The return required under this section shall be filed within 90 days from the end of the taxation year and shall be in respect of the taxation year.

  • (3) Subsection (1) does not require a trust to make a return for a taxation year at the end of which it is

    • (a) governed by a deferred profit sharing plan or by a plan referred to in subsection 147(15) of the Act as a revoked plan;

    • (b) governed by an employees profit sharing plan;

    • (c) a registered charity;

    • (d) governed by an eligible funeral arrangement;

    • (d.1) a cemetery care trust;

    • (e) governed by a registered education savings plan; or

    • (f) governed by a TFSA or by an arrangement that is deemed by paragraph 146.2(9)(a) of the Act to be a TFSA.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts and regulations. SOR/88-165, s. 31(F);
  • SOR/94-686, s. 51(F);
  • SOR/96-283, s. 2;
  • SOR/99-22, s. 5;
  • SOR/2000-13, s. 2;
  • SOR/2001-216, s. 10(F);
  • 2009, c. 2, s. 84.

Interpretation

  •  (1) The following definitions apply in this section.

    “public investment trust”

    “public investment trust”, at any time, means a public trust all or substantially all of the fair market value of the property of which is, at that time, attributable to the fair market value of property of the trust that is

    • (a) units of public trusts;

    • (b) partnership interests in public partnerships (as defined in subsection 229.1(1));

    • (c) shares of the capital stock of public corporations; or

    • (d) any combination of properties referred to in paragraphs (a) to (c). (fiducie de placement ouverte)

    “public trust”

    “public trust”, at any time, means a mutual fund trust the units of which are, at that time, listed on a designated stock exchange in Canada. (fiducie ouverte)

Required Information Disclosure

  • (2) A trust that is, at any time in a taxation year of the trust, a public trust shall, within the time required by subsection (3),

    • (a) make public, in prescribed form, information in respect of the trust for the taxation year by posting that prescribed form, in a manner that is accessible to the general public, on the Internet website of CDS Innovations Inc.; and

    • (b) notify the Minister in writing as to when the posting of the prescribed form, as required by paragraph (a), has been made.

Required Disclosure Time

  • (3) The time required for a public trust to satisfy the requirements of subsection (2) in respect of the public trust for a taxation year of the public trust is

    • (a) subject to paragraph (b), on or before the day that is 60 days after the end of the taxation year; and

    • (b) where the public trust is, at any time in the taxation year, a public investment trust, on or before the day that is 67 days after the end of the calendar year in which the taxation year ends.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts and regulations. 2007, c. 35, s. 72.