Administrative Policy
2020 Ruling 2020-0848231R3 F - Rollover of RRSP proceeds to a lifetime benefit trust.
Background
The will of the deceased provided for the creation of a testamentary trust for the Beneficiary (the adult son of the deceased who, due...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 75.2 | annuity purchased by Hansen trust included in income of beneficiary rather than of Hansen trust | 152 |
Subsection 60.011(1)
Paragraph 60.011(1)(b)
Administrative Policy
14 October 2022 External T.I. 2021-0913801E5 - Lifetime Benefit Trust
Under the rule against accumulations in Ontario (and other provinces), any trust income after a specified period (“surplus income”) may not be...
3 December 2020 External T.I. 2019-0823751E5 - Lifetime Benefit Trust
In response to requested clarification concerning the meaning of “mental infirmity” and the consequences of annual distributions from a...
Words and Phrases
mental infirmitySubparagraph 60.011(1)(b)(i)
Administrative Policy
15 June 2021 STEP Roundtable Q. 14, 2021-0883211C6 - Revised - Lifetime benefits trust
A will is drafted in a province such as Ontario, which is subject to a 21-year accumulations limit. The will establishes a lifetime benefit trust...