Income Tax Act — I-3.3 (a)
designated beneficiary , under a particular trust at any time, means a beneficiary, under the particular trust, who is at that time (a) a non-resident person; (b) [Repealed, 2014, c. 39, s. 63] (c) a person who is, because of subsection 149(1), exempt from tax under Part I on all or part of their taxable income and who acquired an interest as a beneficiary under the particular trust after October 1, 1987 directly or indirectly from a beneficiary under the particular trust except if (i) the interest was, at all times after the later of October 1, 1987 and the day on which the interest was created, held by persons who were exempt from tax under Part I on all of their taxable income because of subsection 149(1), or (ii) the person is a trust, governed by a registered retirement savings plan or a registered retirement income fund, who acquired the interest, directly or indirectly, from an individual or the spouse or common-law partner, or former spouse or common-law partner, of the individual who was, immediately after the interest was acquired, a beneficiary under the trust governed by the fund or plan; (d) another trust (in this paragraph referred to as the “other trust”) that is not a graduated rate estate, a mutual fund trust or a trust that is exempt because of subsection 149(1) from tax under Part I on all or part of its taxable income, if any beneficiary under the other trust is at that time (i) a non-resident person, (ii) [Repealed, 2014, c. 39, s. 63] (iii) a trust that is not (A) a graduated rate estate, (B) a mutual fund trust, (C) a trust that is exempt because of subsection 149(1) from tax under Part I on all or part of its taxable income, or (D) a trust (I) whose interest, at that time, in the other trust was held, at all times after the day on which the interest was created, either by it or by persons who were exempt because of subsection 149(1) from tax under Part I on all of their taxable income, and (II) none of the beneficiaries under which is, at that time, a designated beneficiary under it, or (iv) a person or partnership that (A) is a designated beneficiary under the other trust because of paragraph (c) or (e), or (B) would be a designated beneficiary under the particular trust because of paragraph (c) or (e) if, instead of being a beneficiary under the other trust, the person or partnership were at that time a beneficiary, under the particular trust, whose interest as a beneficiary under the particular trust were (I) identical to its interest (referred to in this clause as the “particular interest”) as a beneficiary under the other trust, (II) acquired from each person or partnership from whom it acquired the particular interest, and (III) held, at all times after the later of October 1, 1987 and the day on which the particular interest was created, by the same persons or partnerships that held the particular interest at those times; or (e) a particular partnership any of the members of which is at that time (i) another partnership, except if (A) each such other partnership is a Canadian partnership, (B) the interest of each such other partnership in the particular partnership is held, at all times after the day on which the interest was created, by the other partnership or by persons who were exempt because of subsection 149(1) from tax under Part I on all of their taxable income, (C) the interest of each member, of each such other partnership, that is a person exempt because of subsection 149(1) from tax under Part I on all or part of its taxable income was held, at all times after the day on which the interest was created, by that member or by persons who were exempt because of subsection 149(1) from tax under Part I on all of their taxable income, and (D) the interest of the particular partnership in the particular trust was held, at all times after the day on which the interest was created, by the particular partnership or by persons who were exempt because of subsection 149(1) from tax under Part I on