Income Tax Regulations

1000 (1) Any election under subsection 164(6) of the Act shall be made by the legal representative of a deceased taxpayer by filing with the Minister the following documents:

• (a) a letter from the legal representative specifying

  • (i) the part of the one or more capital losses from the disposition of properties, if any, under paragraph 164(6)(c) of the Act, and

  • (ii) the part of the amount, if any, under paragraph 164(6)(d) of the Act

  in respect of which the election is made;

• (b) where an amount is specified under subparagraph (a)(i), a schedule of the capital losses and capital gains referred to in paragraph 164(6)(a) of the Act;

• (c) where an amount is specified under subparagraph (a)(ii),

  • (i) a schedule of the amounts of undepreciated capital cost described in paragraph 164(6)(b) of the Act,

  • (ii) a statement of the amount that, but for subsection 164(6) of the Act, would be the non-capital loss of the estate for its first taxation year, and

  • (iii) a statement of the amount that, but for subsection 164(6) of the Act, would be the farm loss of the estate for its first taxation year.

• (d) and (e) [Repealed, SOR/88-165, s. 5]

(2) The documents referred to in subsection (1) shall be filed not later than the day that is the later of

• (a) the last day provided by the Act for the filing of a return that the legal representative of a deceased taxpayer is required or has elected to file under the Act in respect of the income of that deceased taxpayer for the taxation year in which he died; and

• (b) the day the return of the income for the first taxation year of the deceased taxpayer’s estate is required to be filed under paragraph 150(1)(c) of the Act.