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Income Tax Regulations

This version of section 217 is in force from 2004-08-31 to 2010-05-11.
 


  • 217. (1) In this section,

    “disposition”

    “disposition” has the meaning assigned by subsection 148(9) of the Act and includes anything deemed to be a disposition of a life insurance policy under subsection 148(2) of the Act; (disposition)

    “insurer”

    “insurer” has the meaning assigned by paragraph 148(10)(a) of the Act; (assureur)

    “life insurance policy”

    “life insurance policy” has the meaning assigned by subsection 138(12) of the Act. (police d’assurance-vie)

  • (2) Where by reason of a disposition of an interest in a life insurance policy an amount is required, pursuant to paragraph 56(1)(j) of the Act, to be included in computing the income of a taxpayer and the insurer that is the issuer of the policy is a party to, or is notified in writing of, the disposition, the insurer shall make an information return in prescribed form in respect of the amount.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/78-449, s. 4;
  • SOR/84-967, s. 2;
  • SOR/88-165, s. 31(F);
  • SOR/2003-5, s. 7.