Excise Tax Act (R.S.C., 1985, c. E-15)

Marginal note:Inter vivos trust

268. For the purposes of this Part, where a person settles property on an inter vivos trust,

• (a) the person is deemed to have made and the trust is deemed to have received a supply by way of sale of the property; and

• (b) the supply is deemed to have been made for consideration equal to the amount determined under the Income Tax Act to be the proceeds of disposition of the property.

Marginal note:Distribution by trust

269. For the purposes of this Part, where a trustee of a trust distributes property of the trust to one or more persons, the distribution of the property is deemed to be a supply of the property made by the trust at the place at which the property is delivered or made available to the persons and for consideration equal to the amount determined under the Income Tax Act to be the proceeds of disposition of the property.

Marginal note:Definitions

• 270. (1) In this section,

  “receiver”

  « séquestre »

  “receiver” means a person who is a receiver within the meaning assigned by subsection 266(1);

  “representative”

  « représentant »

  “representative” means

  • (a) a person, other than a trustee in bankruptcy or a receiver, who is administering, winding up, controlling or otherwise dealing with any property, business, commercial activity or estate of a registrant, and

  • (b) a trustee of a trust that is a registrant.

• Marginal note:Certificates for receivers

  (2) Every receiver shall, before distributing to any person any property or money under the control of the receiver in the receiver’s capacity as receiver, obtain a certificate from the Minister certifying that all amounts that are, or can reasonably be expected to become, payable or remittable under this Part by the receiver in that capacity in respect of the reporting period during which the distribution is made, or any previous reporting period, have been paid or that security for the payment or remittance of the amounts has, in accordance with this Part, been accepted by the Minister.

• Marginal note:Certificates for representatives

  (3) Every representative of a registrant shall, before distributing to any person any property or money under the control of the representative in the representative’s capacity as the representative, obtain a certificate from the Minister certifying that

  • (a) all amounts that are payable or remittable by the registrant under this Part in respect of the reporting period during which the distribution is made, or any previous reporting period, and

  • (b) all amounts that are, or can reasonably be expected to become, payable or remittable under this Part by the representative in that capacity in respect of the reporting period during which the distribution is made, or any previous reporting period,

  have been paid or that security for the payment or remittance of the amounts has, in accordance with this Part, been accepted by the Minister.

• Marginal note:Liability for failure to obtain certificate

  (4) Any

  • (a) receiver who distributes property or money without obtaining a certificate as required by subsection (2) in respect of the amounts referred to in that subsection, or

  • (b) representative who distributes property or money without obtaining a certificate as required by subsection (3) in respect of the amounts referred to in that subsection

  is personally liable for the payment or remittance of those amounts to the extent of the value of the property or money so distributed.