3 June 1991 Income Tax Severed Letter

By services, 22 July, 2022
Language
English
Document number
Severed letter type
Miscellaneous
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
656757
Extra import data
{
"field_external_guid": [
"menu:://Federal Income Tax [CCH Tax ]/Tax Window Files/Tax Window Files/Tax Window Files/1990s/1991 [JN91_149.150 - MA91_334.338]/JN91_290 — Splitting of Pension Income on Marriage Breakdown"
],
"field_proprietary_citation": [],
"field_release_date_new": "1991-06-03 08:00:00",
"field_tags": []
}
Main text
19(1)                              911219
                                             R.B. Day
                                             (613) 957-2136

June 3, 1991

          19(1)

We are writing in reply to your letter of May 2, 1991, wherein you requested our views on the income tax implications of the splitting of pension income on marriage breakdown, with respect to the following situation.

          24(1)
                           In this regard, you have requested our
views as to whether considering the pension income as assets in the
agreement in any way alters the income tax treatment for either
spouse.

Our Comments

It is our view that the clause in the agreement does not alter the fact that the spouses each have a proprietary interest in one-half of the pension benefits. As a consequence, each spouse would be required to report their respective share of the pension benefit as income under subparagraph 56(1)(a)(i) of the Income Tax Act in each and every year of receipt.

We trust our comments will be of assistance to you.

Yours truly,

for Director Business and General Division Rulings Directorate Legislative and Intergovernmental Affairs Branch

                                                           000290