(b) except for the purpose of the definition ``designated benefit'' in subsection (1), not to be received out of or under the fund by any other person.
Transfer of designated benefit	(6.11) For the purpose of subparagraph 60(l)(v), the eligible amount of a particular individual for a taxation year in respect of a registered retirement income fund is nil unless the particular individual was
	(a) a spouse of the last annuitant under the fund, or
	(b) a child or grandchild of that annuitant who was dependent because of physical or mental infirmity on that annuitant,
	in which case the eligible amount shall be determined by the formula
	A x [1 - (B - C )] D
	where
	A is the portion of the designated benefit of the particular individual in respect of the fund that is included because of subsection (5) in computing the particular individual's income for the year,
	B is the minimum amount under the fund for the year,
	C is the lesser of
	(a) the total amounts included because of subsection (5) in computing the income of an annuitant under the fund for the year in respect of amounts received by the annuitant out of or under the fund, and
	(b) the minimum amount under the fund for the year, and
	D is the total of all amounts each of which is the portion of a designated benefit of an individual in respect of the fund that is included because of subsection (5) in computing the individual's income for the year.
Amount deductible	(6.2) There may be deducted from the amount deemed by subsection (6) to be received by an annuitant out of or under a registered retirement income fund an amount not exceeding the amount determined by the formula
	A x [1 - (B + C - D )] (B + C)
	where
	A is the total of all designated benefits of individuals in respect of the fund;
	B is the fair market value of the property of the fund at the particular time that is the later of
	(a) the end of the first calendar year that begins after the death of the annuitant, and
	(b) the time immediately after the last time that any designated benefit in respect of the fund is received by an individual;
	C is the total of all amounts paid out of or under the fund after the death of the last annuitant thereunder and before the particular time; and
	D is the lesser of
	(a) the fair market value of the property of the fund at the time of the death of the last annuitant thereunder, and
	(b) the sum of the values of B and C in respect of the fund.
	(7) Subsection 146.3(15) of the Act is replaced by the following:
Credited or added amount deemed not received	(15) Where
	(a) an amount is credited or added to a deposit with a depositary referred to in paragraph (d) of the definition ``carrier'' in subsection (1) as interest or income in respect of the deposit,
	(b) the deposit is a registered retirement income fund at the time the amount is credited or added to the deposit, and
	(c) during the calendar year in which the amount is credited or added or during the preceding calendar year, the annuitant under the fund was alive,
	the amount shall be deemed not to be received by the annuitant or any other person solely because of the crediting or adding.
	(8) Subsection (1) applies
	(a) to the 1992 and subsequent taxation years with respect to
	(i) retirement income funds entered into after February 1986, and
	(ii) retirement income funds entered into before March 1986 and revised or amended after February 1986 and before 1992; and
	(b) where a retirement income fund was entered into before March 1986 and was not revised or amended after February 1986 and before 1992, to the taxation year in which the fund is first revised or amended after February 1986 and to subsequent taxation years.
	(9) Subsections (2), (6) and (7) apply to deaths occurring after 1992.
	(10) Subsection (3) applies after 1991.
	(11) Subsections (4) and (5) apply to the 1993 and subsequent taxation years.
	72. (1) The portion of paragraph 147(2)(c) of the Act before subparagraph (i) is replaced by the following:
	(c) the plan provides that no part of the funds of the trust governed by the plan may be invested in notes, bonds, debentures, bankers' acceptances or similar obligations of
	(2) Paragraph 147(2)(d) of the Act is replaced by the following:
	(d) the plan provides that no part of the funds of the trust governed by the plan may be invested in shares of a corporation at least 50% of the property of which consists of notes, bonds, debentures, bankers' acceptances or similar obligations of an employer or a corporation described in paragraph (c);
	(3) Subsections (1) and (2) apply to the 1993 and subsequent taxation years.
	73. (1) Paragraph 148(1)(e) of the Act is replaced by the following:
	(e) an annuity contract where
	(i) the payment for the annuity contract was deductible under paragraph 60(l) in computing the policyholder's income, or
	(ii) the policyholder acquired the annuity contract in circumstances to which subsection 146(21) applied,
	(2) Subsection (1) applies to dispositions occurring after August 1992.
	74. (1) The formula in the definition ``disbursement quota'' in subsection 149.1(1) of the Act is replaced by the following:
	0.8A + A.1 + B + C x 0.045 [D - (E + F)] + G 365
	(2) The definition ``disbursement quota'' in subsection 149.1(1) of the Act is amended by adding the following after the description of A:
	A.1 is 80% of the total of all amounts each of which is the amount of a gift received in a preceding taxation year, to the extent that the amount of the gift
	(a) is expended in the year, and
	(b) was excluded from the disbursement quota of the foundation
	(i) because of paragraph (a) of the description of A for a taxation year that begins after 1993, or
	(ii) because of paragraph (b) of the description of A,
	(3) The description of E in the definition ``disbursement quota'' in subsection 149.1(1) of the Act is replaced by the following:
	E is 5/4 of the total of the amounts determined for A and A.1 for the year in respect of the foundation,
	(4) Paragraph 149.1(2)(b) of the Act is replaced by the following:
	(b) fails to expend in any taxation year, on charitable activities carried on by it and by way of gifts made by it to qualified donees, amounts the total of which is at least equal to the total of
	(i) 80% of the amount that would be determined for the year for A, and
	(ii) the amount that would be determined for the year for A.1,
	in the definition ``disbursement quota'' in subsection (1) in respect of the organization if it were a charitable foundation.
	(5) Subsection 149.1(8) of the Act is replaced by the following:
Accumulation of property	(8) A registered charity may, with the approval in writing of the Minister, accumulate property for a particular purpose, on terms and conditions, and over such period of time, as the Minister specifies in the approval, and any property accumulated after receipt of such an approval and in accordance therewith, including any income earned in respect of the property so accumulated, shall be deemed
	(a) to have been expended on charitable activities carried on by the charity in the taxation year in which it was so accumulated; and
	(b) not to have been expended in any other year.
	(6) Paragraph 149.1(21)(c) of the Act is replaced by the following:
	(c) in the case of a charitable organization, the total of
	(i) 80% of the amount that would be determined for the year for A, and
	(ii) the amount that would be determined for the year for A.1,
	in the definition ``disbursement quota'' in subsection (1) in respect of the organization if it were a charitable foundation.
	(7) Subsections (1) to (6) apply to taxation years that begin after 1992.
	75. (1) Subsection 150.1(4) of the Act is replaced by the following:
Declaration	(4) Where a return of income of a taxpayer for a taxation year is filed by way of electronic filing by a particular person (in this subsection referred to as the ``filer'') other than the person who is required to file the return, the person who is required to file the return shall make an information return in prescribed form containing prescribed information, sign it, retain a copy of it and provide the filer with the information return, and that return and the copy shall be deemed to be a record referred to in section 230 in respect of the filer and the other person.
	(2) Subsection (1) applies after 1991.
	76. (1) Paragraph 152(1)(b) of the Act is replaced by the following:
	(b) the amount of tax, if any, deemed by subsection 120(2), 120.1(4), 122.5(3), 127.1(1) or 210.2(3) or (4) to be paid on account of the taxpayer's tax under this Part for the year or deemed by subsection 119(2) to be an overpayment.
	(2) Subsections 152(4.3) and (4.4) of the Act are replaced by the following:
Consequential assessment	(4.3) Notwithstanding subsections (4), (4.1) and (5), where the result of an assessment or a decision on an appeal is to change a particular balance of a taxpayer for a particular taxation year, the Minister may, or where the taxpayer so requests in writing, shall, before the later of the expiration of the normal reassessment period in respect of a subsequent taxation year and the end of the day that is one year after the day on which all rights of objection and appeal expire or are determined in respect of the particular year, reassess the tax, interest or penalties payable, or redetermine an amount deemed to have been paid or to have been an overpayment, under this Part by the taxpayer in respect of the subsequent taxation year, but only to the extent that the reassessment or redetermination can reasonably be considered to relate to the change in the particular balance of the taxpayer for the particular year.
Definition of ``balance''	(4.4) For the purpose of subsection (4.3), a ``balance'' of a taxpayer for a taxation year is the income, taxable income, taxable income earned in Canada or any loss of the taxpayer for the year, or the tax or other amount payable by, any amount refundable to, or any amount deemed to have been paid or to have been an overpayment by, the taxpayer for the year.
	(3) Subsection (1) applies to the 1993 and subsequent taxation years.
	(4) Subsection (2) applies to reassessments and redeterminations in respect of taxation years made after June 10, 1993 that relate to changes in balances for other taxation years made as a result of assessments made, or decisions on appeals rendered, after December 20, 1991 except that, where the day referred to in subsection 152(4.3) of the Act, as enacted by subsection (2), as ``the day on which all rights of objection and appeal expire or are determined in respect of the particular year'' occurred before June 10, 1993, that subsection of the Act shall be read as if that reference were to ``June 10, 1993''.
	77. (1) Paragraphs 153(1)(m) and (m.1) of the Act are replaced by the following:
	(m) a prescribed benefit under a government assistance program,
	(2) Subsection (1) applies to payments made after October 1991.
	78. (1) Subsection 159(4) of the Act is replaced by the following:
Election on emigration	(4) Where an individual to whom subsection 128.1(4) applies
	(a) so elects in prescribed manner on or before the individual's balance-due day for the taxation year in which the individual ceased to be resident in Canada, and
	(b) furnishes to the Minister security acceptable to the Minister for payment of any tax under this Act the payment of which is deferred by the election,
	all or any portion of such part of that tax as is equal to the amount, if any, by which that tax exceeds the amount that would be that tax if this Act were read without reference to subsection 128.1(4) may, subject to subsection (4.1), be paid in such number of equal annual instalments as is specified in the election by the individual.
Idem	(4.1) Where an individual to whom subsection 128.1(4) applies elects under subsection (4),
	(a) the number of equal annual instalments provided in the election shall be deemed to be the lesser of 6 and such other number as is specified in the election by the individual;
	(b) the first instalment shall be paid on or before the individual's balance-due day for the taxation year; and
	(c) each subsequent instalment shall be paid on or before the next following anniversary of the day described in paragraph (b).
	(2) Subsection (1) applies to changes in residence occurring after 1992.