Words and Phrases - "received"

a
82
b
44
c
75
d
50
e
37
f
31
g
17
h
13
i
71
j
2
k
2
l
30
m
51
n
25
o
38
p
79
q
2
r
74
s
85
t
44
u
14
v
8
w
20
y
2
“
1

Robwaral Ltd. v. MNR, 60 DTC 1025, [1960] CTC 16 (Ex Ct), briefly aff'd 64 DTC 5266 (SCC)

Summary Under
Tax Topics - Income Tax Act - Section 90 - Subsection 90(1)

A private Ontario company declared a dividend on December 21, 1953 payable to common shareholders of record on December 31, 1953, and then drew the cheque for the dividend on January 22, 1954. The dividend was not "received" until 1954. "When the section says 'received', I do not believe that it means 'receivable'. I would say that a right to a dividend in an amount of money is not income until received."

Words and Phrases
received
Locations of other summaries Wordcount
Tax Topics - General Concepts - Payment & Receipt dividend not received until cheque received 41

The Queen v. G.T.E. Sylvania Canada Ltd., 74 DTC 6673, [1974] CTC 751 (FCA)

Summary Under
Tax Topics - Income Tax Act - Section 13 - Subsection 13(4)
taxable income deduction was not receipt of assistance

A reduction in the taxpayer's Quebec income tax that was effected by an amendment to the provincial legislation did not result in the taxpayer having "received ... other assistance" for purposes of s. 20(6)(h) of the pre-1972 Act. "[T]he respondent literally received nothing."

Words and Phrases
received