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Income Tax Regulations

Version of section 7308 from 2005-08-31 to 2015-06-22:

  •  (1) In this section, carrier has the meaning assigned by subsection 146.3(1) of the Act.

  • (2) For the purposes of this section, a retirement income fund is a qualifying retirement income fund at a particular time if

    • (a) the fund was entered into before 1993 and the carrier has not accepted any property as consideration under the fund after 1992 and at or before the particular time, or

    • (b) the carrier has not accepted any property as consideration under the fund after 1992 and at or before the particular time, other than property transferred from a retirement income fund that, immediately before the time of the transfer, was a qualifying retirement income fund.

  • (3) For the purposes of the definition minimum amount in subsection 146.3(1) of the Act, the prescribed factor in respect of an individual for a year in connection with a retirement income fund that was a qualifying retirement income fund at the beginning of the year is the factor, determined pursuant to the following table, that corresponds to the age in whole years (in the table referred to as “X”) attained by the individual at the beginning of that year or that would have been so attained by the individual if the individual had been alive at the beginning of that year.

    X Factor
    Under 791/(90 - X)
    790.0853
    800.0875
    810.0899
    820.0927
    830.0958
    840.0993
    850.1033
    860.1079
    870.1133
    880.1196
    890.1271
    900.1362
    910.1473
    920.1612
    930.1792
    94 or older0.2
  • (4) For the purposes of the definition minimum amount in subsection 146.3(1) of the Act and subsection 8506(5), the prescribed factor in respect of an individual for a year in connection with a retirement income fund (other than a fund that was a qualifying retirement income fund at the beginning of the year) or the designated factor in respect of an individual for a year in connection with an account under a money purchase provision of a registered pension plan, as the case may be, is the factor, determined in accordance with the following table, that corresponds to the age in whole years (in the table referred to as “Y”) attained by the individual at the beginning of the year or that would have been so attained by the individual if the individual was alive at the beginning of the year.

    Y Factor
    under 711/(90 - Y)
    710.0738
    720.0748
    730.0759
    740.0771
    750.0785
    760.0799
    770.0815
    780.0833
    790.0853
    800.0875
    810.0899
    820.0927
    830.0958
    840.0993
    850.1033
    860.1079
    870.1133
    880.1196
    890.1271
    900.1362
    910.1473
    920.1612
    930.1792
    94 or older0.2
  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  •  SOR/94-127, s. 1
  • SOR/2000-63, s. 2
  • SOR/2005-264, s. 14
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