Tax wiki
s. 105
PART I — Income Tax · DIVISION B — Computation of Income · SUBDIVISION K — Trusts and their Beneficiaries
Benefits under trust
Not yet annotated · Text current to 2026-06-21 · section last amended 2004-08-31
Current text
The value of all benefits to a taxpayer during a taxation year from or under a trust, irrespective of when created, shall, subject to subsection 105(2), be included in computing the taxpayer’s income for the year except to the extent that the value
is otherwise required to be included in computing the taxpayer’s income for a taxation year; or
has been deducted under paragraph 53(2)(h) in computing the adjusted cost base of the taxpayer’s interest in the trust or would be so deducted if that paragraph
applied in respect of the taxpayer’s interest in the trust, and
were read without reference to clause 53(2)(h)(i.1)(B).
Upkeep, etc.
(2)Such part of an amount paid by a trust out of income of the trust for the upkeep, maintenance or taxes of or in respect of property that, under the terms of the trust arrangement, is required to be maintained for the use of a tenant for life or a beneficiary as is reasonable in the circumstances shall be included in computing the income of the tenant for life or other beneficiary from the trust for the taxation year for which it was paid.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since the start of the point-in-time record on 31 August 2004.
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 105 links to the one before it.
Enacting and amending legislation
- 1970-71-72, c. 63, s. 1“105”; 1988, c. 55, s. 72
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 105.