• 7308 (1) In this section, carrier has the meaning assigned by subsection 146.3(1) of the Act.

• (2) For the purposes of this section, a retirement income fund is a qualifying retirement income fund at a particular time if

  • (a) the fund was entered into before 1993 and the carrier has not accepted any property as consideration under the fund after 1992 and at or before the particular time, or

  • (b) the carrier has not accepted any property as consideration under the fund after 1992 and at or before the particular time, other than property transferred from a retirement income fund that, immediately before the time of the transfer, was a qualifying retirement income fund.

• (3) For the purposes of the definition minimum amount in subsection 146.3(1) of the Act, the prescribed factor in respect of an individual for a year in connection with a retirement income fund that was a qualifying retirement income fund at the beginning of the year is the factor, determined pursuant to the following table, that corresponds to the age in whole years (in the table referred to as “X”) attained by the individual at the beginning of that year or that would have been so attained by the individual if the individual had been alive at the beginning of that year.

  X	Factor
  Under 72	1/(90 – X)
  72	0.0540
  73	0.0553
  74	0.0567
  75	0.0582
  76	0.0598
  77	0.0617
  78	0.0636
  79	0.0658
  80	0.0682
  81	0.0708
  82	0.0738
  83	0.0771
  84	0.0808
  85	0.0851
  86	0.0899
  87	0.0955
  88	0.1021
  89	0.1099
  90	0.1192
  91	0.1306
  92	0.1449
  93	0.1634
  94	0.1879
  95 or older	0.2000

• (4) For the purposes of the definition minimum amount in subsection 146.3(1) of the Act and subsection 8506(5), the prescribed factor in respect of an individual for a year in connection with a retirement income fund (other than a fund that was a qualifying retirement income fund at the beginning of the year) or the designated factor in respect of an individual for a year in connection with an account under a money purchase provision of a registered pension plan, as the case may be, is the factor, determined in accordance with the following table, that corresponds to the age in whole years (in the table referred to as “Y”) attained by the individual at the beginning of the year or that would have been so attained by the individual if the individual was alive at the beginning of the year.

  Y	Factor
  Under 71	1/(90 – Y)
  71	0.0528
  72	0.0540
  73	0.0553
  74	0.0567
  75	0.0582
  76	0.0598
  77	0.0617
  78	0.0636
  79	0.0658
  80	0.0682
  81	0.0708
  82	0.0738
  83	0.0771
  84	0.0808
  85	0.0851
  86	0.0899
  87	0.0955
  88	0.1021
  89	0.1099
  90	0.1192
  91	0.1306
  92	0.1449
  93	0.1634
  94	0.1879
  95 or older	0.2000

7309 For the purpose of section 67.6 of the Act, penalties imposed under paragraph 110.1(1)(a) of the Excise Act are prescribed.

7310 For the purpose of the definition eligible apprentice in subsection 127(9) of the Act, a prescribed trade in respect of a province means, at all times in a taxation year, a trade that is, at any time in that taxation year, a Red Seal trade for the province under the Interprovincial Standards Red Seal Program.

PART LXXIVPrescribed Forest Management Plans for Woodlots

• 7400 (1) For the purposes of subsections 70(9), (9.3) and (10) and 73(3) of the Act, a prescribed forest management plan in respect of a woodlot of a taxpayer is a written plan for the management and development of the woodlot that

  • (a) describes the composition of the woodlot, provides for the attention necessary for the growth, health and quality of the trees on the woodlot and is approved in accordance with the requirements of a provincial program established for the sustainable management and conservation of forests; or

  • (b) has been certified in writing by a recognized forestry professional to be a plan that describes the composition of the woodlot, provides for the attention necessary for the growth, health and quality of the trees on the woodlot and includes

    • (i) a description of, or a map indicating, the location of the woodlot,

    • (ii) a description of the characteristics of the woodlot, including a map of the woodlot site that shows those characteristics,

    • (iii) a description of the development of the woodlot, including the activities carried out on the woodlot, since the taxpayer acquired it,

    • (iv) information acceptable to the recognized forestry professional estimating

      • (A) the ages and heights of the trees on the woodlot, and their species,

      • (B) the quantity of wood on the woodlot,

      • (C) the quality and composition of the soil underlying the woodlot, and

      • (D) the quantity of wood that the woodlot could yield as a result of the implementation of the plan,

    • (v) a description of, and the timing for, the activities proposed to be carried out on the woodlot under the plan, including any of those activities that deal with

      • (A) harvesting,

      • (B) renewal and regeneration,

      • (C) the application of silviculture techniques, and

      • (D) responsible stewardship and the protection of the environment, and

    • (vi) a description of the objectives and strategies for the management and development of the woodlot over a period of at least five years.

• (2) A recognized forestry professional referred to in subsection (1) is a forestry professional who has a degree, diploma or certificate recognized by the Canadian Forestry Accreditation Board, the Canadian Institute of Forestry or the Canadian Council of Technicians and Technologists.

• (3) A recognized forestry professional referred to in subsection (1) is not required to express an opinion as to the completeness or correctness of a description of past activities referred to in subparagraph (1)(b)(iii) or of information referred to in subparagraph (1)(b)(iv) if the information was not prepared by that recognized forestry professional.