Cases
Newmont Canada Corporation v. Canada, 2012 DTC 5138 [at 7292], 2012 FCA 214
The taxpayer agreed to settle a loan owing to it of over $8 million plus accrued but unpaid interest through the payment to it by the debtor of $1...
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Tax Topics - General Concepts - Onus | testimony sufficient to "demolish" assumptions | 159 |
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss | loan made as investment in mining business | 170 |
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(p) - Subparagraph 20(1)(p)(i) | interest was bad as settlement proceeds not allocated to it | 222 |
Bastien Estate v. Canada, 2011 DTC 5118 [at 6014], 2011 SCC 38, [2011] 2 S.C.R. 710
In the course of concurring reasons provided in finding that a interest income on a deposit with an on-reserve credit union represented property...
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Tax Topics - Other Legislation/Constitution - Federal - Indian Act - Section 87 | 259 | |
Tax Topics - Statutory Interpretation - Ordinary Meaning | avoid forensic dialectics | 77 |
Goulet v. The Queen, 2009 DTC 1875, 2009 TCC 127 (Informal Procedure), aff'd 2011 DTC 5138 [at 6120], 2011 FCA 164
In finding that the difference between the purchase price of notes and of commercial paper acquired by the taxpayer in the secondary market and...
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Tax Topics - Income Tax Regulations - Regulation 7000 - Subsection 7000(2) - Paragraph 7000(2)(a) | 68 |
Alepin v. The Queen, 79 DTC 5259, [1979] CTC 360 (FCTD)
Notwithstanding the taxpayer's allegations to the contrary, there had never been an agreement (verbal or otherwise) between the taxpayer and a...
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Tax Topics - Income Tax Act - Section 16 - Subsection 16(1) | payments applied first to interest | 95 |
The Queen v. Elliott, 96 DTC 6189 (FCTD)
Twelve years after Ontario Hydro expropriated some farm lands of the taxpayer, it reached an agreement with the taxpayer to pay him $44,425 of...
Munich Reinsurance Co. v. The Queen, 96 DTC 6185, [1996] 2 CTC 5 (FCTD)
Interest earned by the taxpayer (a German corporation carrying on a reinsurance business throughout the world, including through a branch in...
Bellingham v. The Queen, 96 DTC 6075, [1996] 1 CTC 187 (FCA)
An award of "additional interest" received by taxpayer pursuant to s. 66(4) of the Expropriation Act (Alberta) (a provision which required the...
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Tax Topics - Income Tax Act - Section 3 | 123 | |
Tax Topics - Income Tax Act - Section 54 - Proceeds of Disposition | 232 | |
Tax Topics - Income Tax Act - Section 9 - Computation of Profit | 77 |
Satinder v. The Queen, 95 DTC 5340 (FCA)
The difference between the $152,078 purchase price for a Government of Canada Treasury Bill, which the taxpayer acquired on May 2, 1989, and its...
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Tax Topics - Income Tax Act - Section 39 - Subsection 39(4) | 64 |
The Queen v. Shaw, 93 DTC 5121, [1993] 1 CTC 221 (F.C.A.)
The farm lands of the taxpayer were expropriated pursuant to the Expropriation Act (Alberta) in 1977. Following the settlement in 1986 of an...
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Tax Topics - Income Tax Act - Section 16 - Subsection 16(1) | requires distinguishing of capital sum and interest | 123 |
Tax Topics - Income Tax Act - Section 44 - Subsection 44(2) - Paragraph 44(2)(a) | 130 | |
Tax Topics - Income Tax Act - Section 54 - Proceeds of Disposition - Paragraph (d) | 190 |
Piché v. MNR, 93 DTC 5295 (FCA)
Interest owing to the taxpayer as a result of the acceptance by his co-shareholders of his offer to sell his shares in a corporation, was found to...
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Tax Topics - General Concepts - Payment & Receipt | payment when cheque accepted as payment | 87 |
Praxair Canada Inc. v. The Queen, 93 DTC 5100, [1993] 1 CTC 130 (FCTD)
As part of the restructuring of a company in financial difficulty, the taxpayer received Class C preference shares of the company having a par...
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Cost Amount | 77 |
Miller v. The Queen, 85 DTC 5354, [1985] 2 CTC 139 (FCTD)
Following binding arbitration, the appellant was awarded a salary increase retroactive to the beginning of the preceding year together with...
Freeway Properties Inc. v The Queen, 85 DTC 5183, [1985] 1 CTC 222 (FCTD)
A mortgage with a term of July 1979 to December 31, 1984 provided that the present value of the interest which would have accrued over the balance...
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Tax Topics - Income Tax Act - Section 125 - Subsection 125(7) - Income of the Corporation for the Year From an Active Business | interest on vendor-take-back mortgage was active | 59 |
Salt v. The Queen, 84 DTC 6395, [1984] CTC 414 (FCTD)
An option agreement, in addition to granting the Grantee the option to acquire lands for a price of $240,000, provided that:
"[T]he Grantee agrees...
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Tax Topics - General Concepts - Fair Market Value - Land | 45 | |
Tax Topics - Income Tax Act - Section 49 - Subsection 49(3) | 101 | |
Tax Topics - Income Tax Act - Section 68 | 55 |
The Queen v. Terra Mining & Exploration Ltd. (N.P.L.), 84 DTC 6185, [1984] CTC 176 (FCTD)
It was stated, obiter, that s."12(1)(c) require[s] accounting [for interest] in conformity with ordinary commercial practices and/or generally...
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Tax Topics - General Concepts - Accounting Principles | 68 | |
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) | 63 | |
Tax Topics - Statutory Interpretation - Scheme | 36 |
Perini Estate v. The Queen, 82 DTC 6080, [1982] CTC 74 (FCA)
The deceased taxpayer sold a company in 1968 in consideration for an initial payment of $660,000 and three additional annual payments based on the...
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Tax Topics - General Concepts - Effective Date | 186 |
The Queen v. Greenington Group Ltd., 79 DTC 5026, [1979] CTC 31 (FCTD)
The taxpayer made a second mortgage loan to a real esate developer ("Clearstream"). After Clearstream defaulted, the taxpayer arranged for an...
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Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate | no profit-making intention at time of acquistion of property on debtor default | 138 |
The Queen v. Quinn, 73 DTC 5215, [1973] CTC 258 (FCTD)
Under a contract with the Canadian Scholarship Trust Fund it was agreed that interest on funds deposited by the taxpayer would be transferred to...
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Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) | 92 | |
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) | 96 |
Hall v. MNR, 70 DTC 6333, [1970] CTC 510 (Ex Ct), briefly aff'd 71 DTC 5217 (SCC)
An individual taxpayer, who in two successive years clipped and sold overdue coupons in the amount of $10,000 on his Canada bonds to the trustee...
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Tax Topics - General Concepts - Payment & Receipt | interest coupons required to be presented | 79 |
Lloyd Estate v. MNR, 63 DTC 1349 (Ex Ct), briefly aff'd 65 DTC 5031 (SCC)
Before finding that bonuses or discounts received by the taxpayer (a dentist), on on a large portfolio of risky first mortgages acquired by him as...
Huston v. MNR, 61 DTC 1233, [1961] CTC 414 (Ex.Ct.)
An award which the taxpayers received in 1958 from the War Claims Commissioner as compensation for the confiscation of their Czechoslovakian...
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Tax Topics - General Concepts - Substance | 47 | |
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | 108 |
McCullagh Estate v. MNR, 59 DTC 1159, [1959] CTC 308 (Ex Ct)
S.20 of the Succession Duty Act (Ontario) provided that where succession duty was paid before the due date, the Treasurer of Ontario was...
See Also
Agence du revenu du Québec v. Bernardin, 2021 QCCA 625
An individual, by virtue of being part of a group of class action claimants, was awarded damages in 2004 of $1,200 for each of the eight winter...
Bernardin v. Agence du revenu du Québec, 2019 QCCQ 846, aff'd 2021 QCCA 625
The plaintiff was a member of a group of class action claimants who in 2004 received a judgement for $1,200 in damages for each of seven winter...
News Australia Holdings Pty Ltd v Commissioner of Taxation, [2017] FCA 645
SRC was a wholly-owned subsidiary of an immediate subsidiary (News Limited) of the taxpayer. Income derived by SRC was attributed to the taxpayer....
Pike v. Revenue and Customs Commissioners, [2014] BTC 33, [2014] EWCA Civ 824
The taxpayer subscribed for loan stock of a family company at a price equal to its principal amount. Although the loan stock did not bear any...
Pope & Ors v. R & C Commrs., [2012] UKUT 206 (Tax and Chancery Chamber)
The son of the taxpayers (Mr and Mrs Pope), who was the beneficiary of a life insurance policy which he had purchased on his own life, was...
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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) | 231 |
Holzhey v. The Queen, 2008 DTC 2607, 2007 TCC 247
The deemed disposition by the taxpayer, as a result of his ceasing to be a resident of Canada, of a loan made by him to a non-resident corporation...
Mackinnon v. The Queen, 2008 DTC 2052, 2007 TCC 658
As a result of the payment of the proceeds of the RRSP of the deceased spouse of the son of the taxpayer to the spouse's estate rather than to the...
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Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees | 103 |
Boersen v. The Queen, 2007 DTC 1696, 2007 TCC 671 (Informal Procedure)
An action by the taxpayer for a total of $68,000 in interest and principal owing to him under a loan to his uncle and a debtor company was settled...
Montgomery v. The Queen, 2007 DTC 898, 2007 TCC 317 (Informal Procedure)
Pre-judgment interest (and some post-judgment interest) included in an award made to the taxpayer as a wages adjustment pursuant to the Canadian...
Ahmad v. The Queen, 2002 DTC 2065 (TCC)
Prejudgment interest received by the taxpayer as part of a damages award for tortious interference by a third party with his employment contract...
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Retiring Allowance | 153 |
R.A. Hewitt & Sons Ltd. v. The Queen, 2000 DTC 2441 (TCC)
Interest on a loan made by the taxpayer to a foreign affiliate was includable in its income at the 5% interest rate provided in the loan agreement...
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Subsidiary Controlled Corporation | 118 |
General Motors Acceptance Corp. of Canada Ltd. v. The Queen, 2000 DTC 1844 (TCC)
The taxpayer purchased conditional sales contracts from Canadian General Motors franchise dealers and was reimbursed by General Motors of Canada...
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Tax Topics - Income Tax Act - Section 10 - Subsection 10(1) | 42 | |
Tax Topics - Income Tax Act - Section 9 - Agency - Agency | undisclosed principal | 162 |
Fleishman v. R., 98 DTC 1836, [1998] 3 CTC 2096 (TCC)
Payments received by the taxpayer on a note owing by an arm's length debtor were found to be principal rather than interest on the basis of the...
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Tax Topics - General Concepts - Payment & Receipt | creditor may apply payment as it determines if debtor does not | 97 |
Donovan v. The Queen, 94 DTC 1143, [1994] 1 CTC 2394 (TCC), aff'd 96 DTC 6085 (FCA)
A corporation took title to a Florida residence for which the taxpayer had exclusive use. Although there were large interest-free loans owing by...
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Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) | Youngman did no consider the implications of barter exchange | 109 |
Gestion Guy Ménard Inc. v. MNR, 93 DTC 1058, [1993] 2 CTC 2793 (TCC)
The taxpayer purchased significant quantities of treasury bills through its broker and sold them one day prior to maturity. In dismissing the...
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Tax Topics - Income Tax Act - Section 16 - Subsection 16(1) | discount treated as interest | 130 |
Tax Topics - Statutory Interpretation - Specific v. General Provisions | 34 |
Schaffer v. Cattermole, [1980] T.R. 331, 53 TC 499 (CA)
The purchase price of a government bond reflected interest that had accrued up to the date of the purchase. Nonetheless, when interest was paid on...
Davies v. Premier Investment Co. Ltd.; Hewetson v. Carlyle (1945), 27 TC 27 (KBD)
A company issued at par £500,000 in notes which did not bear interest and which were repayable in six years time together with a premium of 30%....
Lomax v. Peter Dixon & Son Ltd. (1943), 25 TC 353 (CA)
The Finnish subsidiary of the taxpayer arranged to repay shareholder advances of £319,600 by issuing notes with a face amount of £340,000 and...
CIR. v. Thomas Nelson & Sons, Ltd. (1938), 22 TC 176 (C.S. (1st Div'n))
The taxpayer lent money to its Indian subsidiary under an agreement which provided that interest was to be paid at 3% per annum (a "remarkably low...
Paget v. CIR (1937), 21 TC 677 (CA)
The taxpayer held US-dollar denominated bonds of the Yugoslavian government which defaulted (although it offered alternative payment arrangements,...
Wigmore v. Thomas Summerson and Sons Ltd. (1926), 9 TC 577 (Ch D)
The taxpayer, who had sold bonds with coupons attached but not yet due, had not received interest of money for purposes of Schedule D Case 111...
Administrative Policy
28 June 2017 External T.I. 2017-0705431E5 - funds held in settlement account
Settlement funds received by a law firm from the defendant in a class action suit are held in a settlement trust, to be applied solely for...
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Tax Topics - Income Tax Act - Section 149 - Subsection 149(1) - Paragraph 149(1)(w) | court-supervised settlement fund for class action was not required by a law | 186 |
Tax Topics - Income Tax Act - Section 150 - Subsection 150(1.1) - Paragraph 150(1.1)(b) - Subparagraph 150(1.1)(b)(i) | class-action settlement fund was required to file T3 returns | 188 |
22 January 2014 External T.I. 2014-0517121E5 - T5 Information Slip Reporting Requirements
A credit union pays a member an incentive for holding an account balance, calculated as a percentage of the balance held in the account on certain...
6 September 2013 External T.I. 2013-0478241E5 - U.K. Individual Savings Account (ISA)
Although income earned in a UK Cash ISA is not subject to taxation in the U.K., under the Canadian Income Tax Act ("Act") Canadian residents ......
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Tax Topics - Treaties - Income Tax Conventions - Article 11 | 117 | |
Tax Topics - Treaties - Income Tax Conventions - Article 18 | 117 |
5 October 2012 Roundtable, 2012-0453191C6 F - Investissements frauduleux
An article published in La Presse on the Earl Jones fraudulent scheme case indicated that CRA permitted the investors to file amended returns...
16 February 2010 External T.I. 2009-0322751E5 F - Traitement fiscal des indemnités reçues
In finding that the damages awards in a class action suit, including prejudgment interest were received tax free, CRA referred to the surrogatum...
12 May 2009 External T.I. 2008-0293561E5 - Income from Participating Loan
Respecting a loan made to an arm's length borrower where the terms of the loan include both a fixed rate of interest and a profit participation...
28 September 2006 External T.I. 2006-0189101E5 - Interest Free Loan - Life Lease
A life lease (under which the tenant in a non-profit retirement housing complex makes an interest-free loan to the landlord to help fund...
15 December 2006 External T.I. 2006-0182471E5 F - Intérêts " explicitement identifiés "
Regarding requested clarification of the position in Income Tax Technical News No. 30 that all pre-judgment interest, which is “explicitly...
18 May 2006 Internal T.I. 2005-0162821I7 F - Imposition - article 1619 du Code civil
The Corporation commenced an action against the Insurer (which had refused to pay insurance proceeds on the death of the life of the Insured...
3 December 2004 External T.I. 2004-0089341E5 F - Intérêts et frais juridiques
The taxpayer brought an action to recover an amount believed to be payable to her pursuant to a codicil. A preliminary court order directed the...
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Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees | legal fees to recovery a legacy were non-deductible | 102 |
30 September 2004 Internal T.I. 2004-0085051I7 F - Intérêts et indemnité additionnelle
A construction company sued a supplier for damages to its business suffered as a result of having been supplied the wrong product and was awarded...
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Tax Topics - Income Tax Act - Section 129 - Subsection 129(4) - Income or Loss | interest on damages relating to lost business was active business income | 268 |
13 August 2004 Internal T.I. 2004-0076861I7 F - Investissement à l'étranger
A resident individual (the taxpayer) lent a sum to a Barbados borrower pursuant to a debenture contract which provided that the return was payable...
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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) | s. 75(2) would apply where loan proceeds would ultimately revert to the taxpayer | 74 |
Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(a) | suspension of redemption right for more than one year would disqualify as s. 108(2)(a) trust | 131 |
28 June 2004 Internal T.I. 2004-0073761I7 F - Dommages-intérêts-perte d'emploi
After the taxpayer was wrongfully dismissed, an arbitrator ordered that the taxpayer be reinstated and be paid his back pay. The corporate...
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Retiring Allowance | damages for failure to reinstate the taxpayer were a retiring allowance | 89 |
Tax Topics - Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(l.1) | reimbursement of legal costs incurred to recover damages for failure to reinstate were includible under s. 56(1)(l.1) | 122 |
Tax Topics - Income Tax Act - Section 60 - Paragraph 60(o.1) | deduction for legal fees incurred to recover damages that were retiring allowance | 127 |
31 May 2004 External T.I. 2004-0074381E5 F - Créance: calcul des intérêts
Regarding interest-bearing bonds issued at a premium or discount, CRA stated:
[A] premium or discount on a bond does not constitute interest where...
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Tax Topics - Income Tax Act - Section 20 - Subsection 20(21) | overview of s. 20(21) | 129 |
IT-396R "Interest Income"
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Tax Topics - General Concepts - Effective Date | 81 |
27 November 2002 Internal T.I. 2002-0149207 F - INTERETS ET FRAIS LEGAUX
Prejudgment interest received by the taxpayers as part of an award of damages for defective work done on the homes they had purchased for personal...
15 July 1998 External T.I. 9813585 - EMPLOYER WITHHOLDING OBL ON A RETIRING ALLOWANCE
Withholding was required on a retiring allowance which was considered to include punitive damages, severance pay and the payment of tuition,...
13 May 1998 External T.I. 9727105 - PRE&POST-JUDGMENT INT ON WRONGFUL DISMISSAL
It is the position of RC that pre-judgment, or pre-settlement, interest received in respect of an award for damages for personal injury, death or...
23 September 1996 Memorandum 962261 (C.T.O. "Partial Payment Rec'd for GIC & Accrued Interest")
"Unless there is any indication to the contrary, payments received in partial payment of debt (in this case, a GIC) should be applied first to...
5 January 1996 CTF Roundtable Q. 31, 9523976 - GROSS-UP PAYMENTS
A gross-up on a debt obligation owing to a Canadian lender will be included in the Canadian lender's income under s. 9 or s. 12(1)(c) even "where...
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Tax Topics - General Concepts - Payment & Receipt | 56 | |
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) | 69 | |
Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) | 74 |
1996 Ruling 961994 (C.T.O. "Structured Settlements")
Favourable ruling where a personal injuries action by the taxpayer, the taxpayer's wife and their children is settled by the defendant agreeing to...
IT129R Lawyers' trust accounts and disbursements (Archived)
Interest on Funds of Litigants
10. Where funds deposited with a lawyer by a litigant or litigants for safekeeping and investment, pending a court...
22 August 1995 Internal T.I. 9505576 - PRE-DECISION INTEREST ON RETRO WCB AWARD
Given that a retroactive award for workers' compensation is very similar to an award of damages for personal injury or death, RC will treat the...
1 May 1995 Internal T.I. 9510657 - DISCOUNTS ON BONDS
"A discount on a bond does not in general have the characteristics of interest where the effective rate of interest on the bond is similar to the...
6 July 1994 Administrative Letter 9323826 F - Bonds Issued in Lieu of Interest
Bonds issued to a Canadian bank in settlement of arrears interest on a non-performing loan of a Brazilian debtor would not be considered to...
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Tax Topics - General Concepts - Payment & Receipt | issuance of bonds re accrued interest did not constitute payment thereof | 64 |
16 May 1994 T.I. 940456
A court-ordered payment by a corporation to its shareholder would be included in income under s. 12(1)(c) to the extent of pre-judgment interest...
8 April 1993 Internal T.I. 9238487 F - Trust Money in Dispute
Where the litigants and the trustee of a litigation trust have not submitted waivers for each year, income earned by the trust on the trust funds...
29 January 1993 T.I. 9200395 (Tax Window, No. 27, p. 1, ¶2360)
Where a casualty insurer acquires an annuity contract to fund a series of periodic payments to compensate an injured party for lost income and...
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Tax Topics - Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(d) | 140 | |
Tax Topics - Income Tax Act - Section 9 - Exempt Receipts/Business | 140 | |
Tax Topics - Income Tax Act - Section 9 - Expense Reimbursement | 140 |
22 January 1993 T.I. 9203635 (Tax Window, No. 27, p. 1, ¶2360)
A structured settlement agreement that provides for balloon payments which the injured person can elect in the future to take either as a lump sum...
25 March 1992 T.I. (Tax Window, No. 18, p. 18, ¶1829)
Pre-judgment interest awarded or agreed upon in respect of employment income is included in income as interest. On the other hand, pre-judgment...
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Tax Topics - Income Tax Act - Section 5 - Subsection 5(1) | 27 |
20 February 1992 T.I. 920074
RC was not prepared to extend its position in respect of pre-judgment or pre-settlement interest for personal injury or wrongful dismissal to...
17 July 1991 T.I. (Tax Window, No. 6, p. 14, ¶1356)
A minimum return on capital paid to a partner may be considered interest income of the partner even though no deduction is available to the...
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Tax Topics - Income Tax Act - 101-110 - Section 103 - Subsection 103(1) | 58 |
11 May 1990 Memorandum (October 1990 Access Letter, ¶1494)
Interest received on GST rebates are taxable under s. 12(1)(c).
20 June 2023 STEP Roundtable Q. 16, 2023-0961321C6 - Damages in Respect of Personal Injury or Death
Regarding damages received on behalf of a child of parents killed in an accident, CRA indicated that where the amount received was not awarded as...
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Tax Topics - Income Tax Act - Section 81 - Subsection 81(1) - Paragraph 81(1)(g.1) | a damages annuity to a child for financial loss from a parent’s death would not be exempted under ss. 81(1)(g.1) and (g.2) | 199 |
88 C.R. - F.Q.24
Where a parent provides an interest-free loan to a child, and the child gives the parent a gift which compensates him for the lost interest...
IT-365R2 "Damages, settlements, and similar receipts" 8 May 1987
Structured Settlement
5. A "structured settlement" is a means of paying or settling a claim for damages, usually against a casualty insurer, in...
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Tax Topics - Income Tax Act - Section 9 - Compensation Payments | 325 |
86 C.R. - Q.69
A recapture of refund interest previously allowed may be netted against the original refund interest.
Articles
Marie-Eve Gosselin, Paul Lynch, "A Review of Interest Deductibility Since Ludco", 2015 CTF Annual Conference paper
CRA challenges to intercompany interest charges (p.7:18)
We have seen challenges [to the reasonableness of the interest rate] in related groups,...
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Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) | 441 | |
Tax Topics - Income Tax Act - Section 3.1 | 51 |
Lewis, "The Taxation of Structured Settlements", British Tax Review, 1994, No. 1, p. 19
A discussion of authorities supporting the position of Inland Revenue that the full amount of payments under a structured settlement are...
Smith, "Corporate Restructuring Issues: Public Corporations", 1990 Corporate Management Tax Conference Report, pp. 6:4-6:6
Discussion of treatment of upward adjustments to the purchase price for shares to compensate the vendor for anticipated delays in the final...
Commentary
General
S. 12(1)(c) provides that, subject to subsection 12 (3) (respecting accrual basis taxation for a corporation, partnership, units trust or...