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

Regulations are current to 2014-10-27 and last amended on 2014-06-19. Previous Versions

PART XCVEMPLOYEE LIFE AND HEALTH TRUSTS

Marginal note:Prescribed rights

 For the purpose of subparagraph 144.1(2)(g)(iii) of the Act, prescribed payments are payments to General Motors of Canada Limited or Chrysler Canada Inc. by the employee life and health trust established for the benefit of retired automobile industry workers by the Canadian Auto Workers’ Union that

  • (a) are reasonable in the circumstances;

  • (b) are made as consideration for administrative services provided to or on behalf of the trust or its beneficiaries, or as reimbursement for employee benefit payments made on behalf of, or in contemplation of the establishment of, the trust; and

  • (c) the recipient acknowledges in writing shall be included in computing the recipient’s income in the year that they are receivable, to the extent that the recipient deducts in the year, or deducted in a prior year, in computing its income amounts in respect of the services or benefit payments described in paragraph (b).

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts and regulations. 2010, c. 25, s. 87.