Words and Phrases - "loan"

82
43
75
50
36
31
17
13
71
2
2
30
51
25
38
79
2
73
85
44
14
8
20
2
1

11 May 2005 Roundtable, 2005-0118731C6 F - Contrat avec une société d'affacturage

characterization as “loans and advances” and “all other indebtedness” based on legal character

A factoring company advances sums to Corporation A at a discount to the face value of the discounted receivables, and then applies the amounts...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan advance indebtedness

CAE Inc. v. The Queen, 2021 CCI 57, aff'd 2022 CAF 178

advance labelled by government as a "contribution" but unconditionally repayable was a loan

CAE, which was engaged in manufacturing flight simulator systems, incurred over $700 million in R&D expenditures on further developing such...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 127 - Subsection 127(9) - Government Assistance an unconditionally repayable loan with a 2.5% yield was government assistance 312
Tax Topics - Income Tax Act - Section 37 - Subsection 37(1) - Paragraph 37(1)(d) loan with non-commercial terms was government assistance when advanced 283

16 November 2006 External T.I. 2006-0203131E5 F - Régime à traitement différé

advances received were salary rather than loans and, when repaid, reduced employment income

An employee signed a deferred salary leave contract for the period from June 29, 2002, to December 29, 2006, with his leave being taken from May...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Regulations - Regulation 6801 - Paragraph 6801(a) - Subparagraph 6801(a)(v) failure for leave to be taken at the end of the deferral period 142

13 June 2012 External T.I. 2011-0416781E5 F - Entente contractuelle particulière

intragroup charges to reflect use of each other’s capital under cash pooling arrangement are non-deductible

A cash pooling agreement (the “first contract”) stipulates that no interest is payable to a financial institution when the combined bank...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

5 July 2012 Internal T.I. 2010-0388551I7 F - Fiducie - retour de sommes

capital gain distributed by family trust to children and purportedly lent by them to their parents (also beneficiaries) was instead included in the parents’ income under s. 104(13)

A family trust whose beneficiaries included Father, Mother, two sons (Son A and Son B) and the wife of Son A (Daughter-in-law A) but not the wife...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) s. 75(2) does not apply to an estate freeze as the corp does not own its treasury shares issued to the trust 164
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) income distributed to daughter-in-law who in fact was not a beneficiary includible in her income under s. 105(1) but not deductible by trust under s. 104(6) 166
Tax Topics - Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(6) Foisy test of mental element accepted 238

Meilleur v. The Queen, 2016 TCC 287

retired individuals making 5 high-yield loans on a pooled basis lacked a money-lending business

Beginning in 2006, the two married taxpayers (Susan and Barry) used their retirement funds and borrowed money to make advances to two real estate...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

26 April 2016 Internal T.I. 2015-0623571I7 - one-time salary transition payment

employee advance not a “loan”

After stating that

A loan is generally defined as delivery by one party, and receipt by another party, of a sum of money upon agreement, express...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 5 - Subsection 5(1) advance to employee is current s. 5 income 239
Tax Topics - Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(n) deduction for repayment of transitional advance 163

13 June 2012 Internal T.I. 2012-0448961I7 F - Paiements en trop faits par un employeur

grant of extended period for employee to repay overpayment was not a s. 80.4 loan

An employee was on extended sick leave but nonetheless received remuneration from the payroll service, which was not informed of the leave. On the...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(n) salary mistakenly paid after expiry of sick leave period and then repaid, treated as clerical error rather than s. 8(1)(n) adjustment 288

17 November 1999 External T.I. 9901265 - 97(1) AND A RESERVE

"[W]here and individual transfers property to a partnership under subsection 97(2) of the Act and receives, in addition to a partnership interest...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

21 March 2001 Internal T.I. 2000-0056297 - TENANT INDUCEMENT INVESTMENT ALLOWANCE

Where landlords agree to pay tenant inducements over a period of twenty years, the taxpayers would account for the amounts payable as "secured...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

13 January 2012 Internal T.I. 2011-0414111I7 F - Deemed Interest Incomes - Exception 17(8)

CFA 1's purchased debt of CFA 2 did not qualify as a loan or advance

Where a taxable Canadian corporation makes a non-interest bearing loan to a controlled foreign affiliate (CFA 1) which, in turn, uses the proceeds...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan advance

12 March 1992 External T.I. 5-910839

With respect to an advance made by a Canadian licensor to a U.S. licensor that was repayable only out of royalties to be earned by the licensor,...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

5 November 1999 Internal T.I. 9910637 - MAKING OF LOANS

Where a promissory note is issued to pay a dividend, the creditor (in this case, an NRO) will not be considered to have made a loan because no...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

29 August 2011 Internal T.I. 2009-0336671I7 - Derivative

Interest rate swap transactions between a controlled foreign affiliate of the taxpayer ("BCo") and a foreign financial institution specializing in...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Timing 193

Merchant v. The Queen, 2009 DTC 282, 2009 TCC 31

advance is current remuneration if repayable only out of future earnings

In finding that loans made to the taxpayer by his employer were employment income to him when received, Webb, J. stated (at para. 22):

"in a...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 5 - Subsection 5(1) 137

Banner Pharmacaps NRO Ltd. v. The Queen, 2003 DTC 245, 2003 TCC 82, aff'd 2003 FCA 367, 2003 DTC 5642

The taxpayer was not considered to be engaged in a business of making loans by virtue of the Canadian corporation of which it was a sole...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Timing 95

Loman Warehousing Ltd. v. Canada, 2000 DTC 6610 (FCA), aff'g 99 DTC 1113, Docket: 98-201-IT-G (TCC) infra

a taxpayer with a warehousing business potentially could have a lending business under a cash pooling arrangement

Noël JA, before rejecting the taxpayer's submission that the post-1993 version of s. 20(1)(p)(ii) contemplated a taxpayer whose ordinary business...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan money-lending business

Autobus Thomas Inc. v. The Queen, 2000 DTC 6299 (FCA), briefly aff'd 2001 DTC 5665, 2001 SCC 64

The taxpayer partly financed the acquisition of buses by means of its bank purchasing conditional sales contracts from a manufacturer. Marceau...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

Langhammer v. The Queen, 2001 DTC 45 (TCC)

Before going on to find that losses sustained by the taxpayer after investing in bonds of a condominium development were deductible under s....

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(p) - Subparagraph 20(1)(p)(ii) occasional loans were money-lending business given that done similarly to a money lender 259

Canada Deposit Insurance Corp. v. Canadian Commercial Bank, [1992] 3 S.C.R. 558

A syndicate including the Canadian Deposit Insurance Corportion and six major Canadian banks agreed to provide financial support to Canadian...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

In re Touquoy Gold Mining Co. (1906), 1 E.L.R. 142 (Nova Scotia)

In finding that securities issued by a corporation that were referred to in various corporate documents as "preferred shares" and were evidenced...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan borrowing

Alberta and Southern Gas Co. Ltd. v. The Queen, 76 DTC 6362, [1976] CTC 639 (FCTD), aff'd 77 DTC 5244 [1977] CTC 388 (FCA), aff'd 78 DTC 6566, [1978] CTC 780, [1979] 1 S.C.R. 36

In finding that an agreement, under which in consideration for a payment of $4 million the taxpayer obtained certain rights and privileges to...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan

Cooper v. The Queen, 88 DTC 6525, [1989] 1 CTC 66 (FCTD)

interest-free loan recognized as obligation rather than benefit

The taxpayer, who was a residuary beneficiary and executor of his mother's estate, was held not to have received a benefit by virtue of an...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - General Concepts - Illegality income tax consequences attaching to illegal loan 77
Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) interest-free loan 114