Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principales Questions
1.Le gain en capital imposable d'une coopérative peut-il être versé aux membres à titre de ristourne?
2.La déduction à l’article 135 de la Loi s’applique-t-elle par entreprise?
Loss consolidation by transfer of interest expense from subsidiary to parent. Preferred shares of subsidiary may be left outstanding or converted to common shares.
Principal Issues:
Two brothers, A and B, own different classes of shares of PUBCO. A wishes to sell his shares. A and B each roll their shares to Holdco. Holdco sells the shares formerly owned by B and uses funds to redeem Holdco shares held by A. GAAR applicable?
Position:
No. Similar results could be obtained using section 51 if not a public company.
Whether a XXXXXXXXXX for social and civic improvement is organized as a non-profit organization, and is not a charity within the meaning of subsection 149.1(1) of the Act.
loss of the expected benefit from an exempt gains balance when the FMV of the goodwill at the time of disposition is less than the amount designated in the 110.6(19) election, when the property is transferred in circumstances such that 24(2) or 70(5.1) apply
SCH II, catégorie 24 SCH II, catégorie 1 REG 1102(14)d)
Principales Questions:
1. Dans quelle catégorie d'amortissement doit-on classer une citerne ou fosse à purin?
2. Si un particulier exploite une entreprise à titre de propriétaire unique à une époque antérieure à 1974 et qu'il incorpore son entreprise à une date postérieure à 1973, la nouvelle société rencontre-t-elle toujours le critère énoncé à la division b)(iii)(C) de la catégorie 24 du Règlement?
meaning of prolonged when disabled individual dies before disability lasts 12 months
Position:
question of fact to be determined by the doctor certifying the form as to whether the disability is expected to last for more than 12 months at the time of the certification
Est-ce que les frais de gestion pour les biens dans un REER ou un FEER peuvent être payés par le rentier et les frais de conseiller en placement payés par un tel régime sans conséquence fiscale?
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Position:
Question of fact - not used in active business if not risked in the business (indications: held to offset non-current portion of long-term liabilities, and, potentially in non-arm’s length relationships, converted to inter-corporate advance or outstanding for an extended period of time).
Where the foreign branch of a Canadian financial institution enters into repurchase transactions and reverse repurchase transactions with a foreign counterparty, will clause 212(1)(b)(iii)(E) apply to exempt certain amounts paid under the arrangement such as the repo spread, lending fee and compensation payments from non-resident withholding tax?
Position:
For the exemption in clause 212(1)(b)(iii)(E) to apply, certain requirements must be met. One such requirement is that the amount must be interest payable in a foreign currency on any obligation entered into in the course of carrying on a business in a foreign country. The word “obligation” as used in clause 212(1)(b)(iii)(E) has a broad meaning. It appears that the requirement to repurchase the securities at the end of a repurchase transaction or the requirement to return the securities at the end of a reverse repurchase transaction can be considered to be an obligation for the purposes of the exemption in clause 212(1)(b)(iii)(E). Accordingly, if the amounts in question constitute interest, the exemption in clause 212(1)(b)(iii)(E) would be available provided that the other requirements in the provision are met. It is a question of fact whether the other requirements in clause 212(1)(b)(iii)(E) are met.
(1) Whether Indian band meets prerequisites in order to be able to issue receipts for gifts under sections 110.1 and 118.1 of the Income Tax Act.
Position:
(1) The Department's administrative position is to consider a band to be a municipality for purposes of sections 110.1 and 118.1 and therefore be able to issue official receipts for gifts if it qualifies for exemption under paragraph 149(1)(c) of the Income Tax Act. Generally, this means that the band must have passed bylaws under both sections 81 and 83 of the Indian Act. Bands that do not meet this requirement can be considered on a case-by-case basis to determine whether the band "performs a function of government in Canada" as required by paragraph 149(1)(c).
XXXXXXXXXX
This agreement constitutes evidence indicating that XXXXXXXXXX is a public body that performs a function of government in Canada and thus we are able to confirm that it can issue receipts for purposes of sections 110.1 and 118.1 of the Act.
Est-ce qu’un don à une fondation universitaire, créée par la Loi sur les fondations universitaires (1996 chapitre 48), constitue, aux fins de l’application de l’alinéa 110.1(1)b) et de la définition de “total des dons à l’État” au paragaphe 118.1(1), un don fait en faveur du chef du Canada ou d’une province?
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
XXXXXXXXXX
Attention: XXXXXXXXXX
March 23, 1998
Dear XXXXXXXXXX:
Re: IT-519R Medical Expense and Disability
Tax Credits and Attendant Care Expense Deduction
Will we rule that, for purposes of computing the prescribed amount under subsection 8517(1) of the Regulations, the member's age in the year the RPP was supposed to be terminated can be used instead of the member's age on the transfer date?
1. Des terrains (mines de minéral industriel) acquis dans le but de les utiliser dans l'entreprise sont-ils des "actifs utilisés principalement dans une entreprise que la société exploite activement principalement au Canada" aux fins de la définition de "société exploitant une petite entreprise" prévue au paragraphe 248(1) de la Loi, et ce même s'il ne sont pas immédiatement mis à contribution dans l'exploitation de l'entreprise?
2. Des terrains (mines de minéral industriel) qui ont servis dans l'entreprise mais qui ne sont plus utilisés, sont-ils des "actifs utilisés principalement dans une entreprise que la société exploite activement principalement au Canada " aux fins de la définition de "société exploitant une petite entreprise" prévue au paragraphe 248(1) de la Loi?
1. Est-ce que la prime versée ou payée pour le régime général d’assurance-médicaments du Québec est admissible comme frais médicaux en vertu du paragraphe 118.2(2) de la Loi?
2. Est-ce qu'un régime d’assurance-maladie, qui se qualifierait par ailleurs au titre de "régime privé d’assurance-maladie", perdrait ce statut s’il prévoyait le remboursement ou le paiement de la prime relative au régime général d’assurance-médicaments du Québec?
What is the Department’s position regarding the deductibility of lease inducement payments and other payments, such as leasing commissions, finders fees and marketing expenses, in light of the Canderel and Toronto College Park decisions?
Position:
The Department has yet to consider the impact of these cases.
do accounting reserves set up prior to an acquisition of control reduce the safe income on hand earned after the change of control when the amounts are expended and deducted for tax purposes
Whether the U.S. charitable organization can be considered to be a qualified donee for purposes of section 149.1 of the Act pursuant to Article XXI(6) of the Canada-United States Income Tax Convention (the "Convention")
Whether a taxpayer who transferred or lent property to a specified foreign trust while he was a non-resident of Canada is required to file an information return under subsection 233.2(4) if he was a resident at the end of the trust's year.
Submitted by narmstrong on Tue, 09/20/2016 - 17:23
FAT determined on pro rata basis/FAT paid in Year 3 not related back to Years 1 and 2 FAPI
What is the "foreign accrual tax applicable" in the following scenario?
Income of Affiliate
Year 1
Year 2
Year 3
Total
Fapi...
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Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
964137
XXXXXXXXXX Tim Kuss
Attention: XXXXXXXXXX
October 20, 1997
Dear Sirs:
Re: Subsections 20(11), 20(12) and 126(1)
U.S. Limited Liability Companies
Whether tax paid to foreign country pursuant to that country's domestic law should be considered an "income or profits tax" where such tax is not payble under that country's tax convention with Canada
Whether scooter qualifies as medical expense when taxpayer is diagnosed for thinking, remembering, perceiving disability and is prohibited from driving.
Meaning of maximum value with respect to shares of subsidiaries of an insurer as that term is used in the definition of "valuation" in subsection 2405(3) of the Income Tax Regulations
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
ADM'S OFFICE (2) 98-00885M
RETURN TO 15TH FLOOR, ALBION TOWERS
Principal Issues:
availability of the disability tax credit to individuals with diabetes
Position:
generally not available
Reasons:
conditions of diabetes do not markedly restrict (unable to or takes an inordinate amount of time to) the basic activities of daily living as defined in 118.4(1)(c)
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Individual suffers from Hepatitis C and has enquired about the tax treatment of any compensation he may receive as a result of his medical condition and in light of the findings of the Commission of Inquiry on the Blood System in Canada by Justice Krever.
Position:
No opinion given as to the tax treatment of any future payments that may be made to the taxpayer as compensation.
