| July 13, 1990 | |
| Returns Processing Division | Technical Review Section |
| Mr. D.I. Syse | Technical Publications |
| Chief of Trusts and SER | Division |
| Assessing Section | Mary Evans |
| 957-9229 | |
| EACC 9233EACC 9233 |
Review of form T212
We have reviewed Form T212. Our review and the comments in the attached appendix are based on the provisions of Bill C-52 which received Royal Assent on June 27, 1990. Unless otherwise indicated, the reference to sections, subsections, etc., are to the Income Tax Act. We also attach form T84 signed off for the initial circulation.
If you have any questions, please contact us.
Bernhard BuetowChiefTechnical Review SectionTechnical Publications DivisionLegislative Affairs Directorate
ME/lcc(20)Tech B
Appendix 1 Form T212 Mary Evans 957-9239
1. Bullet 5 - "subclause 60(1)(v)(B.1)(II)" should be "subclause 60(l)(v)(B.1)(II)".
2. Item 2(c) - The effective date for subsection 104(27) under Bill C-52 is after 1987 if the beneficiary is a spouse and after 1988 if the beneficiary is a child or granchild. Your reference to "after 1988" in item 2(c) does not cover the year 1988 where the beneficiary is not a spouse.
3. Item 2(d) - Since subsection 104(27) under Bill C-52 applies in 1988 and subsequent years, item 2(d) should read "received by the trust before 1988". Therefore, the rollover under item 2(d) would be accomplished under paragraph 60(j) and subsection 104(27) as they read in 1987.
4. Form T212 needs a Privacy Act Bank of Information number and should have a notation that the "Form is authorized and prescribed by the Minister of National Revenue"
5. Other changes are indicated on the mock-up by an asterisk.