vested indefeasibly

Summary Under
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6)
indefeasible vesting requires inter alia ascertainment but not conveyance

The will of the taxpayer provided for the residue of the estate to be held for the surviving spouse, as a spousal trust. CRA indicated.

  • In order...

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Words and Phrases
transfer vested indefeasibly
Summary Under
Tax Topics - Income Tax Act - Section 108 - Subsection 108(1) - Trust - Paragraph (g)
meaning of vested indefeasibly

After referring to the meaning of “vested indefeasibly” discussed in IT-449R, CCRA stated:

Therefore, where the rights of the beneficiaries in...

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Words and Phrases
vested indefeasibly

Folio S6-F4-C1, "Testamentary Spouse or Common-law Partner Trusts," 3 February 2022 -- summary under Paragraph 70(6)(b)

1.2-1.3 Indefeasible vesting requirement. The capital property distributed to the spouse trust etc. must vest indefeasibly in it within 36 months...

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Summary Under
Tax Topics - Income Tax Act - Section 108 - Subsection 108(1) - Trust - Paragraph (g)
meaning of vested indefeasibly/ no particular T3 disclosure is required where all the interests in a trust have vested indefeasibly

(a) What is required for all interests in a trust to have vested indefeasibly; and
(b) how is this disclosed on the trust return?

(a) CRA noted...

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Words and Phrases
vested indefeasibly
Summary Under
Tax Topics - Income Tax Act - Section 108 - Subsection 108(1) - Trust - Paragraph (g)
meaning of vested indefeasibly

For purposes of the 21-year deemed disposition rule, a trust does not include a trust "all interests in which … have vested indefeasibly". What...

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Words and Phrases
vested indefeasibly

Catherine Brown, "Vested Indefeasibly: Its Importance for Tax Purposes", 2006 Canadian Tax Journal, Issue No. 4 -- summary under Paragraph (g)

Catherine Brown, "Vested Indefeasibly: Its Importance for Tax Purposes", 2006 Canadian Tax Journal, Issue No. 4
Summary Under
Tax Topics - Income Tax Act - Section 108 - Subsection 108(1) - Trust - Paragraph (g)

Framework for determining indefeasible vesting

[T]he following may serve as a useful framework to determine whether an interest is ‘vested...

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Words and Phrases
vested indefeasibly
Summary Under
Tax Topics - Income Tax Act - Section 108 - Subsection 108(1) - Trust - Paragraph (g)
"vested indefeasibly"

Respecting a question as to whether that all interests in a Trust had vested indefeasibly for purposes of the predecessor of para. (g), CRA...

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Words and Phrases
vested indefeasibly
Summary Under
Tax Topics - Income Tax Act - Section 108 - Subsection 108(1) - Trust - Paragraph (g)
s. 75(2) trust made non-discretionary to avoid 21-year rule

The trust indenture of a discretionary trust will be modified for it to become a non-discretionary trust, in order to avoid the application of the...

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Words and Phrases
vested indefeasibly

The Queen v. Boger Estate, 93 DTC 5276, [1993] 2 CTC 81 (FCA) -- summary under Paragraph (g)

Full Title
The Queen v. Boger Estate, 93 DTC 5276, [1993] 2 CTC 81 (FCA)
Summary Under
Tax Topics - Income Tax Act - Section 108 - Subsection 108(1) - Trust - Paragraph (g)
meaning of "vested" and "indefeasible"

Heald JA summarized findings of the trial judge (p. 5279), which he later adopted (at p. 5281) as being "accurately stated":

Words and Phrases
vested indefeasibly
defeasible
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