GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — 8304
hat is, at that time, a specified multi-employer plan. Individual Pension Plans (10) If there is a past service event in relation to a defined benefit provision under an individual pension plan, the provisional PSPA of an individual with respect to an employer that is associated with the past service event is the amount, if any, determined by the formula A – B where A is the greater of (a) the provisional PSPA that would be determined if (i) this subsection did not apply, (ii) the value of C in subsection 8303(3) were nil, and (iii) the value of D in subsection 8304(5) were nil, and (b) the lesser of (i) the total of (A) the proportion of the fair market value of all property held in connection with the individual’s designated savings arrangements at the time of the past service event, that (I) the total of all amounts each of which is the duration (measured in years, including any fraction of a year) of a period that is pensionable service of the individual under the provision is of (II) the lesser of 35 and the number of years by which the individual’s age in whole years at the time of the past service event exceeds 18, and (B) the individual’s unused RRSP deduction room at the end of the year immediately preceding the calendar year that includes the past service event, and (ii) the actuarial liabilities of the retirement benefits associated with the past service event, determined on the basis of the funding assumptions specified under subsections 8515(6) and (7), at the same effective date as the actuarial valuation that forms the basis for the recommendation referred to in subsection 147.2(2) of the Act that is not earlier than the calendar year of the past service event; and B is the amount of the individual’s qualifying transfers made in connection with the past service event. (11) Subsection (10) does not apply to a past service event in relation to an individual pension plan if the provisional PSPA of the member determined under subsections 8303(3) and 8304(5) would be nil if no qualifying transfers were made in connection with the past service event, unless it is a past service event that results from the establishment of the plan or from an amendment to the plan to provide additional retirement benefits. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-51, s. 7; SOR/95-64, s. 5; SOR/99-9, s. 7; SOR/2001-67, s. 3; 2011, c. 24, s. 92 SOR/2024-231, s. 23
Income Tax Regulations — 8304.1
 of which was included in determining the individual’s pension credit with respect to an employer for the retroactive year under the provision; B is the total amount that ought to have been contributed to the provision under the terms of the plan as registered with respect to the individual for the retroactive year; and C is the amount, if any, by which the total of all amounts each of which is the individual’s pension adjustment for the retroactive year in respect of a participating employer exceeds the lesser of the money purchase limit for the retroactive year and 18% of the individual’s compensation (as defined in subsection 147.1(1) of the Act) from participating employers for the retroactive year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/99-9, s. 8; SOR/2001-188, ss. 7, 13, 15 2023, c. 26, s. 106
Income Tax Regulations — 8305
8305 (1) Where, for the purposes of this Part, it is necessary to determine the portion of an amount of benefits provided with respect to a member of a registered pension plan under a defined benefit provision of the plan that is attributable to the member’s employment with a particular employer, the following rules apply, subject to subsection 8308(7): (a) the determination shall be made by the plan administrator; (b) benefits provided as a consequence of services rendered by the member to an employer who participates in the plan shall be regarded as attributable to employment with that employer, whether the benefits become provided at the time the services are rendered or at a subsequent time; and (c) the determination shall be made in a manner that (i) is reasonable in the circumstances, (ii) is not inconsistent with such determinations made previously, and (iii) results in the full amount of benefits being attributed to employment with one or more employers who participate in the plan. (2) Where the administrator of a registered pension plan does not comply with the requirements of subsection (1) in connection with the determination of an amount under this Part at any time, (a) the plan becomes, at that time, a revocable plan; and (b) the Minister shall make any determinations referred to in subsection (1) that the administrator fails to make, or fails to make in accordance with that subsection. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-51, s. 7
Income Tax Regulations — 8306
vent does not exceed 7/2 of the money purchase limit for the year in which the past service event occurs. (4) For the purposes of this section as it applies in respect of a past service event, (a) a member of a pension plan is an active member under a defined benefit provision of the plan if (i) lifetime retirement benefits accrue under the provision to the member in respect of a period that immediately follows the time the past service event occurs, or (ii) the member is entitled, immediately after the time the past service event occurs, to lifetime retirement benefits under the provision in respect of a period before that time and it is reasonable to expect, at that time, that lifetime retirement benefits will accrue under the provision to the member in respect of a period after that time; and (b) an active member under a defined benefit provision of a pension plan is a specified active member under the provision if (i) the member is connected, at the time of the past service event, with an employer who participates in the plan, or (ii) it is reasonable to expect, at the time of the past service event, that the aggregate of all amounts each of which is the remuneration of the member for the calendar year in which the past service event occurs from an employer who participates in the plan will exceed 2 1/2 times the Year’s Maximum Pensionable Earnings for the year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-51, s. 7; SOR/2005-264, s. 19
Income Tax Regulations — 8308
 the plan to the employee, or the lending employer continues to make contributions under a money purchase provision of the plan with respect to the employee, the following rules apply: (c) for the purpose of the definition participating employer in subsection 147.1(1) of the Act as it applies in respect of the plan, the borrowing employer is a prescribed employer, (d) the determination, for the purposes of this Part, of the portion of the employee’s benefit accrual under a defined benefit provision of the plan in respect of a year that can reasonably be considered to be attributable to the employee’s employment with each of the lending and borrowing employers shall be made with regard to the remuneration received by the employee for the year from each employer, and (e) such portion of the contributions made under a money purchase provision of the plan by the lending employer as may reasonably be considered to be in respect of the employee’s remuneration from the borrowing employer shall be deemed, for the purposes of this Part, to be contributions made by the borrowing employer. Successor Plans (8) Notwithstanding any other provisions of this Part, other than section 8310, where (a) all benefits with respect to an individual under a defined benefit provision (in this subsection referred to as the “former provision”) of a registered pension plan are replaced in a calendar year by identical benefits under a defined benefit provision of another registered pension plan, (b) the replacement of benefits is consequent on a transfer of the individual’s employment from one employer (in this subsection referred to as the “former employer”) to another employer (in this subsection referred to as the “successor employer”), and (c) the Minister consents in writing to the application of this subsection in respect of that replacement of benefits, the individual’s pension adjustments for the year with respect to the former employer and the successor employer shall be the amounts that they would be if all benefits with respect to the individual under the former provision had been attributable to employment with the successor employer and not to employment with the former employer. Special Downsizing Benefits (9) Where (a) lifetime retirement benefits that do not comply with the condition in paragraph 8503(3)(a) are provided to an individual under a defined benefit provision of a registered pension plan, and (b) the benefits are permissible only by reason of subsection 8505(3), each pension credit of the individual under the provision and each provisional PSPA of the individual shall be determined without regard to the lifetime retirement benefits. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-51, s. 7; SOR/95-64, s. 6; SOR/2007-116, s. 13 SOR/2021-127, s. 2 2023, c. 26, s. 107
Income Tax Regulations — 8308.1
 pension adjustment of the individual for the year with respect to the employer if subsection 8301(1) were read without reference to paragraph (b) of that subsection. Pension Credits — 1996 to 2002 (4.1) For the purpose of determining the pension credit of an individual for a calendar year after 1995 and before 2003 with respect to an employer under a foreign plan, subparagraph (2)(b)(vi) shall be read as “(vi) the money purchase limit for the year.” Foreign Plan PSPA (5) Subject to subsection (6), where the benefits to which an individual is entitled, either absolutely or contingently, under a foreign plan are modified, the foreign plan PSPA of the individual with respect to an employer associated with the modification of benefits is the amount, if any, by which (a) the total of all amounts each of which is the amount that, if this section were read without reference to subsection (3), would be the pension credit of the individual with respect to the employer under the foreign plan for a calendar year before the year in which the individual’s benefits are modified exceeds the total of all amounts each of which is (b) the pension credit of the individual with respect to the employer under the foreign plan for a calendar year before the year in which the individual’s benefits are modified, or (c) the foreign plan PSPA of the individual with respect to the employer associated with a previous modification of the individual’s benefits under the foreign plan. Foreign Plan PSPA — Alternative Determination (6) Where the Minister has, on the written application of an employer, approved in writing a method for determining the foreign plan PSPA of an individual with respect to the employer associated with a modification of the individual’s benefits under a foreign plan, the individual’s foreign plan PSPA shall be determined in accordance with that method. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/96-311, s. 8; SOR/99-9, s. 10; SOR/2005-264, s. 20; 2009, c. 2, s. 115
Income Tax Regulations — 8308.2
8308.2 (1) For the purposes of the descriptions of B in the definitions RRSP deduction limit and unused RRSP deduction room in subsection 146(1) of the Act and the description of B in paragraph 204.2(1.1)(b) of the Act, there is prescribed in respect of an individual for a calendar year the lesser of the money purchase limit for the preceding calendar year (in this section referred to as the “service year”) and the amount determined by subsection (2), if the individual (a) rendered services to an employer (excluding services that were primarily services rendered in Canada or services rendered in connection with a business carried on by the employer in Canada, or a combination of those services) throughout a period in the service year in which the individual was resident in Canada; (b) became entitled, either absolutely or contingently, in the service year to benefits under a foreign plan (as defined in subsection 8308.1(1)) in respect of the services; and (c) continued to be entitled at the end of the service year, either absolutely or contingently, to all or part of the benefits. (2) The amount determined for the purpose of subsection (1) is, (a) if the only benefits to which the individ- ual became entitled in the service year under the foreign plan were provided under one or more money purchase provisions of the foreign plan, the total of all amounts each of which is the individual’s pension credit for the service year with respect to the employer under a money purchase provision of the foreign plan, determined (i) as though the foreign plan were a registered pension plan, (ii) without regard to any contributions made by the individual, and (iii) if, under the laws of the country in which the foreign plan is established, any contributions made after the end of the service year are treated as having been made in the service year, as though those contributions were made in the service year and not when the contributions were actually made; and (b) in any other case, the greater of (i) the total that would be determined under paragraph (a) if the individual had not become entitled in the service year to any benefits under a defined benefit provision of the foreign plan, and (ii) 10% of the portion of the individual’s resident compensation from the employer for the service year that is attributable to services rendered to the employer and included under paragraph (1)(a). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/96-311, s. 8; SOR/99-9, s. 11; SOR/2005-264, s. 21; 2009, c. 2, s. 116
Income Tax Regulations — 8308.3
he portion of paragraph (2)(b) after subparagraph (iv) shall be read as “(v) the amount determined by the formula 0.85A - B is greater than nil where A the lesser of (A) the amount, if any, by which 18% of the individual’s resident compensation from the employer for the year exceeds the PA offset for the year, and (B) the amount by which $15,500 exceeds the PA offset for the year, and B is the amount that would be the pension adjustment of the individual for the year with respect to the employer if subsection 8301(1) were read without reference to paragraph (c), the amount that would be determined by the formula in subparagraph (v) if (vi) the reference to “0.85A” in that formula were read as a reference to “A”, and (vii) clause (B) of the description of A in that subparagraph were read as “(B) the money purchase limit for the year, and”.”. Specified Retirement Arrangement PSPA (4) Subject to subsection (5), where the benefits to which an individual is entitled, either absolutely or contingently, under a specified retirement arrangement are modified, the specified retirement arrangement PSPA of the individual with respect to an employer associated with the modification of benefits is the amount, if any, by which (a) the total of all amounts each of which is the amount that, if this section were read without reference to subsection (3), would be the pension credit of the individual with respect to the employer under the arrangement for a calendar year before the year in which the individual’s benefits are modified exceeds the total of all amounts each of which is (b) the pension credit of the individual with respect to the employer under the arrangement for a calendar year before the year in which the individual’s benefits are modified, or (c) the specified retirement arrangement PSPA of the individual with respect to the employer associated with a previous modification of the individual’s benefits under the arrangement. Specified Retirement Arrangement PSPA — Alternative Determination (5) Where the Minister has, on the written application of an employer, approved in writing a method for determining the specified retirement arrangement PSPA of an individual with respect to the employer associated with a modification of the individual’s benefits under a specified retirement arrangement, the individual’s specified retirement arrangement PSPA shall be determined in accordance with that method. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/96-311, s. 8; SOR/99-9, s. 12; SOR/2005-264, s. 22; 2007, c. 29, s. 33
Income Tax Regulations — 8308.4
8308.4 (1) The definitions in this subsection apply in this section. administrator means, in respect of a government-sponsored retirement arrangement, the government or other entity that has ultimate responsibility for the administration of the arrangement. ( administrateur ) government-sponsored retirement arrangement means a plan or arrangement established to provide pensions directly or indirectly from the public money of Canada or a province to one or more individuals each of whom renders services in respect of which amounts that are included in computing the income from a business of any person or partnership are paid directly or indirectly from the public money of Canada or a province. ( mécanisme de retraite sous régime gouvernemental ) Prescribed Amount (2) Where (a) in a particular calendar year after 1992 an individual renders services in respect of which an amount that is included in computing the income from a business of any person was payable directly or indirectly by the Government of Canada or of a province, and (b) at the end of the particular year, the individual is entitled, either absolutely or contingently, to benefits under a government-sponsored retirement arrangement that provides benefits in connection with such services, there is prescribed in respect of the individual for the year following the particular year, for the purposes of the descriptions of B in the definitions RRSP deduction limit and unused RRSP deduction room in subsection 146(1) of the Act and the description of B in paragraph 204.2(1.1)(b) of the Act, (c) where the particular year is before 1996, the amount by which the RRSP dollar limit for that following year exceeds $1,000, and (d) in any other case, the RRSP dollar limit for that following year. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/96-311, s. 8; SOR/99-9, s. 13
Income Tax Regulations — Income Tax Regulations
administrator means, in respect of a government-sponsored retirement arrangement, the government or other entity that has ultimate responsibility for the administration of the arrangement. ( administrateur )
Income Tax Regulations — Income Tax Regulations
government-sponsored retirement arrangement means a plan or arrangement established to provide pensions directly or indirectly from the public money of Canada or a province to one or more individuals each of whom renders services in respect of which amounts that are included in computing the income from a business of any person or partnership are paid directly or indirectly from the public money of Canada or a province. ( mécanisme de retraite sous régime gouvernemental )
Income Tax Regulations — 8309
8309 (1) Subject to subsection (3), where an individual is, at any time in a particular calendar year after 1989, a lieutenant governor of a province (other than a lieutenant governor who is not a contributor as defined in section 2 of the Lieutenant Governors Superannuation Act ), there is prescribed in respect of the individual for the year following the particular year, for the purposes of the descriptions of B in the definitions RRSP deduction limit and unused RRSP deduction room in subsection 146(1) of the Act and the description of B in paragraph 204.2(1.1)(b) of the Act, the lesser of (a) the amount, if any, by which 18% of the salary received by the individual for the particular year as a lieutenant governor exceeds the PA offset for the particular year, and (b) the amount by which the money purchase limit for the particular year exceeds the PA offset for the particular year. (2) Subject to subsection (3), where an individual is, at any time in a particular calendar year after 1990, a judge in receipt of a salary under the Judges Act , there is prescribed in respect of the individual for the year following the particular year, for the purposes of the descriptions of B in the definitions RRSP deduction limit and unused RRSP deduction room in subsection 146(1) of the Act and the description of B in paragraph 204.2(1.1)(b) of the Act, the lesser of (a) the amount, if any, by which 18% of the portion of the salary received by the individual for the particular year under the Judges Act in respect of which contributions are required under subsection 50(1) or (2) of that Act exceeds the PA offset for the particular year; and (b) the amount determined by the formula A × B / 12 where A is the amount by which the money purchase limit for the particular year exceeds the PA offset for the particular year, and B is the number of months, in the particular year, for which the individual received salary in respect of which contributions were required under subsection 50(1) or (2) of the Judges Act . (3) For the purpose of determining the amount prescribed under subsection (1) or (2) in respect of an individual for a calendar year after 2000 and before 2004, (a) paragraph (1)(b) shall be read as follows: “(b) the money purchase limit for the particular year.”, and (b) the description of A in paragraph (2)(b) shall be read as follows: “A is the money purchase limit for the particular year, and”. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-51, s. 7; SOR/99-9, s. 14; SOR/2001-339, s. 1; SOR/2005-264, s. 23
Income Tax Regulations — 8310
8310 (1) Where more than one method for determining an amount under this Part complies with the rules in this Part, only such of those methods as are acceptable to the Minister shall be used. (2) Where, in a particular case, the rules in this Part require the determination of an amount in a manner that is not appropriate having regard to the provisions of this Part read as a whole and the purposes for which the amount is determined, the Minister may permit or require the amount to be determined in a manner that, in the Minister’s opinion, is appropriate. (3) Where, pursuant to subsection (2), the Minister gives permission or imposes a requirement, the permission or requirement is not effective unless it is given or imposed in writing. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-51, s. 7
Income Tax Regulations — 8311
8311 Where a pension credit, provisional PSPA or PAR of an individual is not a multiple of one dollar, it shall be rounded to the nearest multiple of one dollar or, if it is equidistant from two such consecutive multiples, to the higher of the two multiples. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-51, s. 7; SOR/99-9, s. 15
Income Tax Regulations — 8400
8400 (1) All words and expressions used in this Part that are defined in subsection 8300(1), 8308.4(1) or 8500(1) or in subsection 147.1(1) of the Act have the meanings assigned in those provisions. (2) A reference in this Part to a pension credit of an individual means a pension credit of the individual as determined under Part LXXXIII. (3) For the purposes of this Part, where the administrator of a pension plan is not otherwise a person, the administrator shall be deemed to be a person. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/92-51, s. 7; SOR/96-311, s. 10