Income Tax Act — I-3.3 147.3
 of a member of the plan would, but for this subsection, be in accordance with subsection 147.3(1) or (2), and (b) the plan becomes, at the end of the year, a revocable plan as a consequence of an excess determined under any of paragraphs 147.1(8)(a) and (b) and (9)(a) and (b) with respect to the member (whether or not such an excess is also determined with respect to any other member), such portion of the amount transferred as may reasonably be considered to derive from amounts allocated or reallocated to the member in the year or from earnings reasonably attributable to those amounts shall, except to the extent otherwise expressly provided in writing by the Minister, be deemed to be an amount that was not transferred in accordance with subsection 147.3(1) or (2), as the case may be. Withdrawal of excessive transfers to RRSPs and RRIFs (13.1) There may be deducted in computing the income of an individual for a taxation year the lesser of (a) the amount, if any, by which (i) the total of all amounts each of which is an amount included under clause 56(1)(a)(i)(C), paragraph 56(1)(z.3), subsections 146(8), (8.3) or (12) or 146.3(5), (5.1) or (11) in computing the individual’s income for the year, to the extent that the amount is not a prescribed withdrawal, exceeds (ii) the total of all amounts each of which is an amount deductible under paragraph 60(l) or subsection 146(8.2) in computing the income of the individual for the year, and (b) the amount, if any, by which (i) the total of all amounts each of which is an amount that was (A) transferred to a registered retirement savings plan or registered retirement income fund under which the individual was the annuitant (within the meaning assigned by subsection 146(1) or 146.3(1), as the case may be), (B) included in computing the income of the individual for the year or a preceding taxation year, and (C) deemed by paragraph 147.3(10)(b) or 147.3(10)(c) to have been paid by the individual as a premium to a registered retirement savings plan, exceeds (ii) the total of all amounts each of which is an amount (A) deductible under this subsection in computing the individual’s income for a preceding taxation year, or (B) deducted under subsection 146(5) in computing the individual’s income for a preceding taxation year, to the extent that the amount can reasonably be considered to be in respect of an amount referred to in subparagraph 147.3(13.1)(b)(i). Deemed transfer (14) For the purposes of this section and the regulations, where property held in connection with a particular pension plan is made available to pay benefits under another pension plan, the property shall be deemed to have been transferred from the particular plan to the other plan. Transfer of property between provisions (14.1) Where property held in connection with a benefit provision of a registered pension plan is made available to pay benefits under another benefit provision of the plan, subsections 147.3(9) to 147.3(11) apply in respect of the transaction by which the property is made so available in the same manner as they would apply if the other benefit provision were in another registered pension plan. (15) [Repealed, 1998, c. 19, s. 175(2)] [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 147.3; 1994, c. 7, Sch. VIII, s. 86; 1997, c. 25, s. 45; 1998, c. 19, ss. 40, 175; 2000, c. 12, s. 142; 2001, c. 17, s. 144; 2013, c. 34, s. 304; 2017, c. 33, s. 59 2021, c. 23, s. 36