O. Reg. 159/01: MUTUAL FUND TRUSTCAPITAL GAINS REFUNDS

 

ONTARIO regulation 159/01

made under the

income tax act

Made:  May 9, 2001
Filed:  May 11, 2001
Printed in The Ontario Gazette: May 26, 2001

mutual fund trust
capital gains refunds

Prescribed percentage

1. The following is the prescribed percentage for the purposes of the definition of “R” in paragraph 3 of subsection 4 (8) of the Act:

1. For a taxation year that ends after December 31, 1999 and before February 28, 2000, 75 per cent.

2. For any of the following taxation years, the fraction in paragraph 38 (a) of the Federal Act that applies to the mutual fund trust for the year, expressed as a percentage:

i. A taxation year that includes February 28, 2000.

ii. A taxation year that begins after February 28, 2000 and ends before October 17, 2000.

iii. A taxation year that includes October 17, 2000.

3. For a taxation year that begins after October 17, 2000, 50 per cent.

2. This Regulation shall be deemed to have come into force on January 1, 2000.