13 July 1990 Ruling ACC9233 F - Review of Form T212

Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.

Review of form T212

We have reviewed Form T212.  Our review and the comments in the attached appendix are based on the provisions of Bill C-52 which received Royal Assent on June 27, 1990.  Unless otherwise indicated, the reference to sections, subsections, etc., are to the Income Tax Act.  We also attach form T84 signed off for the initial circulation.

If you have any questions, please contact us.

Bernhard BuetowChiefTechnical Review SectionTechnical Publications DivisionLegislative Affairs Directorate

ME/lcc(20)Tech B

Appendix 1 Form T212 Mary Evans 957-9239

1.     Bullet 5 - "subclause 60(1)(v)(B.1)(II)" should be "subclause  60(l)(v)(B.1)(II)".

2.     Item 2(c) - The effective date for subsection 104(27) under    Bill C-52 is after 1987 if the beneficiary is a    spouse and after 1988 if the beneficiary is a child or granchild.  Your reference to "after 1988" in item 2(c) does not cover the year 1988 where the beneficiary is not a spouse.

3.     Item 2(d) - Since subsection 104(27) under Bill C-52 applies in  1988 and subsequent years, item 2(d) should read   "received by the trust before 1988".  Therefore,  the rollover under item 2(d) would be accomplished  under paragraph 60(j) and subsection 104(27) as    they read in 1987.

4.     Form T212 needs a Privacy Act Bank of Information number and   should have a notation that the "Form is authorized and prescribed by the Minister of National Revenue"

5.       Other changes are indicated on the mock-up by an asterisk.