Income Tax Act — I-3.3 60
s deductible under paragraph 8(1)(m) in computing the taxpayer’s income for the year; Transfer of retiring allowances (j.1) such part of the total of all amounts each of which is an amount paid to the taxpayer by an employer, or under a retirement compensation arrangement to which the employer has contributed, as a retiring allowance and included in computing the taxpayer’s income for the year by virtue of subparagraph 56(1)(a)(ii) or paragraph 56(1)(x) as (i) is designated by the taxpayer in the taxpayer’s return of income under this Part for the year, (ii) does not exceed the amount, if any, by which the total of (A) $2,000 multiplied by the number of years before 1996 during which the employee or former employee in respect of whom the payment was made (in this paragraph referred to as the “retiree”) was employed by the employer or a person related to the employer, and (B) $1,500 multiplied by the number by which the number of years before 1989 described in clause 60(j.1)(ii)(A) exceeds the number that can reasonably be regarded as the equivalent number of years before 1989 in respect of which employer contributions under either a pension plan or a deferred profit sharing plan of the employer or a person related to the employer had vested in the retiree at the time of the payment exceeds the total of (C) all amounts deducted under this paragraph in respect of amounts paid before the year in respect of the retiree (I) by the employer or a person related to the employer, or (II) under a retirement compensation arrangement to which the employer or a person related to the employer has contributed, (C.1) all other amounts deducted under this paragraph for the year in respect of amounts paid in the year in respect of the retiree (I) by a person related to the employer, or (II) under a retirement compensation arrangement to which a person related to the employer has contributed, and (D) all amounts deducted under paragraph 60(t) in computing the retiree’s income for the year in respect of a retirement compensation arrangement to which the employer or a person related to the employer has contributed, and (iii) does not exceed the total of all amounts each of which is an amount paid by the taxpayer in the year or within 60 days after the end of the year in respect of the amount so designated (A) as a contribution to or under a registered pension plan, other than the portion thereof deductible under paragraph 60(j) or 8(1)(m) in computing the taxpayer’s income for the year, or (B) as a premium (within the meaning assigned by section 146) under a registered retirement savings plan under which the taxpayer is the annuitant (within the meaning assigned by section 146), other than the portion thereof that has been designated for the purposes of paragraph 60(j) or 60(l, to the extent that it was not deducted in computing the taxpayer’s income for a preceding taxation year and for the purposes of this paragraph, person related to the employer includes (iv) any person whose business was acquired or continued by the employer, and (v) a previous employer of the retiree whose service therewith is recognized in determining the retiree’s pension benefits; Transfer to spousal RRSP (j.2) for taxation years ending after 1988 and before 1995, such part of the total of all amounts (other than amounts paid out of or under a registered retirement savings plan or a registered retirement income fund that by reason of section 254 are considered to be amounts paid out of or under a registered pension plan) paid on a periodic basis out of or under a registered pension plan or a deferred profit sharing plan and included, by reason of subsection 56(1), in computing the taxpayer’s income for the year as (i) is designated by the taxpayer in the taxpayer’s return of income under this Part for the year, and (ii) does not exceed the least of (A) $6,000, (B) the amount, if any, by which that total exceeds the part of that total designated for the year for the purpos