We have translated 6 more CRA interpretations
1 April 2024 - 10:45pm
Email this ContentWe have translated 6 further CRA interpretations released in Februaary of 2002. Their descriptors and links appear below.
These are additions to our set of 2,792 full-text translations of French-language Technical Interpretation and Roundtable items (plus some ruling letters) of the Income Tax Rulings Directorate, which covers all of the last 22 years of releases of such items by the Directorate. These translations are subject to our paywall (applicable after the 5th of each month).
| Bundle Date | Translated severed letter | Summaries under | Summary descriptor |
|---|---|---|---|
| 2002-02-15 | 25 February 2002 External T.I. 2000-0046485 F - Majoration et Immobilisation | Income Tax Act - Section 251 - Subsection 251(1) - Paragraph 251(1)(c) | co-operative use of s. 88(1)(d) bump by targets and purchasers could entail acting in concert |
| Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares | arguable that preferred shares received on s. 85(1) rollover basis for eligible capital property transfer, and immediately sold, were not capital property | ||
| Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(c) - Subparagraph 88(1)(c)(v) | reciprocal transactions entailed acting in concert, so that the bump was denied under s. 88(1)(c)(v) | ||
| Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(c) - Subparagraph 88(1)(c)(vi) - Clause 88(1)(c)(vi)(B) - Subclause 88(1)(c)(vi)(B)(I) | reciprocal transactions entailed acting in concert, so that the bump was denied under s. 88(1)(c)(vi)(B)(I) given resulting specified shareholder status | ||
| Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(d.2) | reciprocal transactions entailed acting in concert, so that the bump was denied under s. 88(1)(c) and (d.2) by virtue of backdating acquisition of acquisition of control by parent | ||
| 1 March 2002 External T.I. 2001-0095115 F - ACTIF UTILISE PRINCIPALLEMENT-SEPE | Income Tax Act - Section 248 - Subsection 248(1) - Small Business Corporation | relative floor area a significant factor in determining principal use of building/ interposition of franchisor as tenant/ sublessor did not change potential business-use finding | |
| Income Tax Act - Section 129 - Subsection 129(6) | interposition of 3rd-party franchisor between lessor and active-business wholly-owned tenant precluded application of s. 129(6) | ||
| 28 February 2002 External T.I. 2002-0120315 F - Butterfly Transactions | Income Tax Act - Section 55 - Subsection 55(3.1) - Paragraph 55(3.1)(c) - Subparagraph 55(3.1)(c)(ii) - Clause 55(3.1)(c)(ii)(B) | application of s. 55(3.1)(c)(ii)(B) to post-butterfly issuance to unrelated persons of shares by the distributed corporation/ tainting effect on one TC of post-butterfly sale by the other TC | |
| 28 February 2002 Internal T.I. 2001-0097117 F - TPS/TVH SUR UN AVANTAGE IMPOSABLE | Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | GST on employee benefit, but not shareholder benefit, generally is deductible | |
| Income Tax Act - Section 9 - Timing | accrual-basis taxpayer may deduct GST on employee benefits on a cash basis | ||
| 21 February 2002 External T.I. 2001-0109765 F - Debts to be Bad Debts of Bankrupt Corp. | Income Tax Act - Section 50 - Subsection 50(1) - Paragraph 50(1)(b) - Subparagraph 50(1)(b)(iii) - Clause 50(1)(b)(iii)(A) | “insolvent” means unable to pay one’s debts/ can’t be insolvent if nil liabilities and assets | |
| 25 February 2002 Internal T.I. 2001-0114167 F - DOMMAGES - DISCRIMINATION | Income Tax Act - Section 248 - Subsection 248(1) - Retiring Allowance | compensation under the CHRA for lost wages and expenses would be a retiring allowance – reasonable (e.g., under $5,000) compensation for pain and suffering would be non-taxable | |
| Income Tax Act - Section 3 - Paragraph 3(a) | awards by human rights tribunals for pain and suffering re wrongful termination often are under $5,000 |