cost

Summary Under
Tax Topics - Income Tax Act - Section 37 - Subsection 37(8) - Paragraph 37(8)(a) - Subparagraph 37(8)(a)(ii) - Clause 37(8)(a)(ii)(B) - Subclause 37(8)(a)(ii)(B)(V)
“materials consumed” does not refer to use of equipment

The cost of materials consumed for purposes of s. 37(8)(a)(ii)(B)(V) did not refer to the use of equipment since, in the ordinary sense of 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
cost material materials consumed
Summary Under
Tax Topics - Income Tax Act - Section 127 - Subsection 127(32)
cost included only the cost of trees and not the costs incurred in processing them

The taxpayer harvests trees, transforms then into logs, and feeds the logs into a new machine being tested for SR&ED purposes. The logs so used 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
acquire cost maintain modify transform
Summary Under
Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Undepreciated Capital Cost - A
cost of installing property part of that property’s cost

The taxpayer, which subleased premises on which were “Shells” consisting essentially of foundations, walls and roofs, installed wall and floor...

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
cost

Teleglobe Canada Inc. v. R., 2002 DTC 7517, 2002 FCA 408 -- summary under Adjusted Cost Base

Full Title
Teleglobe Canada Inc. v. R., 2002 DTC 7517, 2002 FCA 408
Summary Under
Tax Topics - Income Tax Act - Section 54 - Adjusted Cost Base
cost of assets acquired was the stated capital of the shares issued therefor, being the agreed transaction value

In connection with a privatization transaction and at a time that it was still owned by the federal Crown, the taxpayer purchased assets for 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
cost
Summary Under
Tax Topics - Income Tax Act - Section 14 - Subsection 14(1.01)
cost of property acquired can be nil

On a sale of a residential care facility, the taxpayer allocated substantially all of the sale price to operating agreements with the Quebec...

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
cost
Summary Under
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(p) - Subparagraph 18(1)(p)(ii)
PSB can deduct for auto leasing costs or loan interest expense to extent of benefit conferred on the individual qua employee rather than shareholder – but no CCA deduction (other than under s. 18(1)(p)(iii))

Is a corporation carrying on a personal services business ("PSB") entitled to deduct the following under s. 18(1)(p)(ii): (i) the costs of leasing...

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
cost

Lee v. Agence du revenu du Québec, 2020 QCCQ 780, aff'd sub nomine Seica v. Agence du revenu du Québec, 2021 QCCA 1401 -- summary under Tax Shelter

Full Title
Lee v. Agence du revenu du Québec, 2020 QCCQ 780, aff'd sub nomine Seica v. Agence du revenu du Québec, 2021 QCCA 1401
Summary Under
Tax Topics - Income Tax Act - Section 237.1 - Subsection 237.1(1) - Tax Shelter
tax shelter definition applied on a property-by-property basis, and cost excluded interest

A tax shelter, for the initial (2003/2004) years assessed by the ARQ, entailed the sale by a corporation (“Prospector”) to over 200 investors...

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
cost
Summary Under
Tax Topics - Income Tax Act - Section 148 - Subsection 148(9) - Adjusted Cost Basis - Element A
valuing the FMV of acquired property not considered to be part of its cost

An actuary is retained to determine the fair market value of a life insurance policy by an individual to a wholly-owned corporation, and 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
cost
Summary Under
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Cost Amount - Paragraph (f)
adjusted cost basis of policy is generally its “cost” under para. (f)

The definition of reporting entity in s. 233.3 references its “cost amount” of specified foreign property. Is the cost amount of an 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
cost
Summary Under
Tax Topics - Income Tax Act - Section 52 - Subsection 52(2)
property dividended has cost equal to FMV where subject to s. 55(2)

CRA indicated that where a dividend in kind paid by a corporation is subject to s. 55(2), the dividend recipient will be considered to have...

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
cost

Pages

Subscribe to RSS - cost