Income Tax Regulations

2800 (1) Any election under subsection 104(14) of the Act in respect of a taxation year shall be made by filing with the Minister a written statement

• (a) in which the election in respect of the year is made;

• (b) in which is designated the part of the accumulating income in respect of which the election is being made; and

• (c) that is signed by the preferred beneficiary and a trustee having the authority to make the election.

(2) The statement shall be filed within 90 days after the end of the trust’s taxation year in respect of which the election referred to in subsection (1) is made.