Income Tax Act — I-3.3 132
ere A is the total of all amounts each of which is the portion of an amount paid by the trust in the year on the redemption of a unit in the trust that is included in the proceeds of disposition in respect of that redemption, B is the total of the fair market value at the end of the year of all the issued units of the trust and the amount determined for A in respect of the trust for the year, C is 100/16.5 of the trust’s refundable capital gains tax on hand at the end of the year, D is the amount determined by the formula (K + L) - (M + N) where K is the amount of the fair market value at the end of the year of all the issued units of the trust, L is the total of all amounts each of which is the amount of any debt owing by the trust, or of any other obligation of the trust to pay an amount, that was outstanding at that time, M is the total of the cost amounts to the trust at that time of all its properties, and N is the amount of any money of the trust on hand at that time, and E is twice the total of all amounts each of which is an amount designated under subsection 104(21) for the year by the trust in respect of a unit of the trust redeemed by the trust at any time in the year and after December 21, 2000; ( rachats au titre des gains en capital ) net asset value has the same meaning as in National Instrument 81-102 Investment Funds , as amended from time to time, of the Canadian Securities Administrators; ( valeur liquidative ) pro rata portion , of a beneficiary, of a mutual fund trust’s TCP gains balance for a taxation year, in respect of an amount designated under subsection 104(21) by the mutual fund trust for the taxation year, means the amount determined by the formula A x B/C where A is the mutual fund trust’s TCP gains balance for the taxation year, B is the amount the mutual fund trust has designated under that subsection in respect of the beneficiary for the taxation year, and C is the total of all amounts designated under that subsection by the mutual fund trust for the taxation year; ( partie proportionnelle ) refundable capital gains tax on hand of a mutual fund trust at the end of a taxation year means the amount determined by the formula (A - B) where A is the total of all amounts each of which is an amount in respect of that or any previous taxation year throughout which the trust was a mutual fund trust, equal to the least of (a) the highest individual percentage for the year multiplied by its taxable income for the year, (b) the highest individual percentage for the year multiplied by its taxed capital gains for the year, and (c) where the taxation year ended after May 6, 1974, the tax payable under this Part by it for the year, and B is the total of all amounts each of which is an amount in respect of any previous taxation year throughout which the trust was a mutual fund trust, equal to its capital gains refund for the year; ( impôt en main remboursable au titre des gains en capital ) TCP gains balance , of a mutual fund trust for a particular taxation year, means the amount, if any, by which (a) the total of (i) the mutual fund trust’s capital gains from dispositions, after March 22, 2004 and at or before the end of the particular taxation year, of taxable Canadian properties, and (ii) the TCP gains distributions (including those defined in section 131) received by the mutual fund trust at or before the end of the particular taxation year exceeds (b) the total of (i) the mutual fund trust’s capital losses from dispositions, after March 22, 2004 and at or before the end of the particular taxation year, of taxable Canadian properties, and (ii) the total of all amounts deemed, in respect of amounts designated by the mutual fund trust under subsection 104(21) for taxation years that preceded the particular taxation year, to be TCP gains distributions received by beneficiaries under the mutual fund trust; ( solde des gains provenant de BCI ) TCP gains distribution means a TCP gains distribution described in s