Income Tax Act — I-3.3 147.5
 and B is an amount designated by the administrator of the PRPP not exceeding the lesser of (a) the amount of the distribution, and (b) the amount by which the fair market value of all property held in connection with the account immediately before the death exceeds the total of all amounts each of which is (i) the value of B in respect of any prior distribution made from the account, or (ii) an amount distributed from the account to, or on behalf of, a qualifying survivor in relation to the member as a consequence of the death of the member. Post-death decrease in value (19) There may be deducted in computing the income of a member of a PRPP for the taxation year in which the member dies, an amount not exceeding the amount determined, after all amounts payable from the member’s account under the PRPP have been distributed, by the formula A – B where A is the total of all amounts each of which is an amount in respect of the account (a) included in the member’s income under subsection (13) because of the application of subsection (14), (b) included in the income of another taxpayer under subsection (16) or (18), or (c) transferred in accordance with subsection (21) in circumstances described in subparagraph (21)(b)(iii); and B is the total of all distributions made from the account after the member’s death. Subsection (19) not applicable (20) Except where the Minister has waived in writing the application of this subsection with respect to all or any portion of the amount determined in subsection (19) in respect of a member’s account under a PRPP, that subsection does not apply if the last distribution from the account was made after the end of the calendar year following the year in which the member died. Transfer of amounts (21) An amount is transferred from a member’s account under a PRPP in accordance with this subsection if the amount (a) is a single amount; (b) is transferred on behalf of an individual who (i) is the member, (ii) is a spouse or common-law partner or former spouse or common-law partner of the member and who is entitled to the amount under a decree, order or judgment of a competent tribunal, or under a written agreement, relating to a division of property between the member and the individual, in settlement of rights arising out of, or on a breakdown of, their marriage or common-law partnership, or (iii) is entitled to the amount as a consequence of the death of the member and was a spouse or common-law partner of the member immediately before the death; and (c) is transferred directly to (i) the individual’s account under the PRPP, (ii) another PRPP in respect of the individual, (iii) a registered pension plan for the benefit of the individual, (iv) a registered retirement savings plan or registered retirement income fund under which the individual is the annuitant, (v) a licensed annuities provider to acquire a qualifying annuity for the individual, or (vi) a licensed annuities provider to acquire an advanced life deferred annuity for the benefit of the member. Taxation of transfers (22) If subsection (21) applies to an amount transferred from a member’s account under a PRPP on behalf of an individual, (a) the amount shall not, by reason only of that transfer, be included in computing the income of the individual; and (b) no deduction may be made in respect of the amount in computing the income of any taxpayer. Taxation of qualifying annuity (23) If an amount is transferred in accordance with subsection (21) to acquire a qualifying annuity, there shall be included — under this section and not under any other provision of this Act — in computing an individual’s income for a taxation year any amount received by the individual during the year out of or under the annuity or as proceeds from a disposition in respect of the annuity. Notice of intent (24) The Minister may give notice (in subsections (25) and (26) referred to as a “notice of intent”) to an administrator of a PRPP in writing that the Minister inte