| 29 November 2016 CTF Roundtable Q. 1, 2016-0669301C6 - GAAR & 21-year rule planning |
Income Tax Act - Section 245 - Subsection 245(4) |
avoidance of 21-year rule through 107(2) transfer to corporate beneficiary |
| Income Tax Act - 101-110 - Section 104 - Subsection 104(5.8) |
making a s. 107(2) distribution to a corporate beneficiary held by a new trust is an abusive circumvention of the s. 104(4) 21-year rule |
| 29 November 2016 CTF Roundtable Q. 2, 2016-0669651C6 - Computation of safe income |
Income Tax Act - Section 55 - Subsection 55(3.1) - Paragraph 55(3.1)(c) |
moratorium on providing interpretations on safe income allocation to discretionary dividend shares |
| 29 November 2016 CTF Roundtable Q. 3, 2016-0670201C6 - Agnico-Eagle Mines Decision |
Income Tax Act - Section 143.3 - Subsection 143.3(3) - Paragraph 143.3(3)(b) |
application to coversion of debenture |
| Income Tax Act - Section 39 - Subsection 39(2) |
Agnico-Eagle analysis rejected |
| 29 November 2016 CTF Roundtable Q. 4, 2016-0671491C6 - 55(2) and Part IV Tax |
Income Tax Act - Section 55 - Subsection 55(2) |
repeal of the s. 55(2) exemption, for dividends for which the Part IV tax is refunded on on-payment to an individual shareholder, busts integration |
| Income Tax Act - Section 89 - Subsection 89(1) - Capital Dividend Account - Paragraph (a) |
s. 55(2) application to dividend as a result of a Pt IV tax refund does not generate CDA for on-payment of that dividend |
| 29 November 2016 CTF Roundtable Q. 5, 2016-0670801C6 - Investment management fees |
Income Tax Act - Section 207.01 - Subsection 207.01(1) - Advantage - Paragraph (a) - Subparagraph (a)(i) |
bearing of RRSP or TFSA fees by the annuitant or holder typically will be subject to the 100% advantage tax, effective 2018 |
| 29 November 2016 CTF Roundtable Q. 6, 2016-0669661C6 - 84.1 and the Poulin/Turgeon Case |
Essentially the same question and answer as 7 October 2016 APFF Roundtable Q. 20, 2016-0655831C6 F - Employee Buycos and the Poulin Case -- summary under Paragraph 251(1)(c) |
Poulin distinction between accommodation parties and tax advantaged arm’s length dealings accepted |
| 29 November 2016 CTF Roundtable Q. 7, 2016-0672091C6 - GAAR Assessment Process |
Income Tax Act - Section 245 - Subsection 245(2) |
whether a GAAR proposal letter is issued before a Headquarters/GAAR Committee referral generally turns on whether the GAAR issue is familiar |
| 29 November 2016 CTF Roundtable Q. 8, 2016-0671501C6 - 55(2) clause 55(2.1)(b)(ii)(B) |
Income Tax Act - Section 248 - Subsection 248(1) - Property |
cash is property in s. 55(2) |
| Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(b) |
cash is property for 55(2.1)(b)(ii)(B) purposes |
| 29 November 2016 CTF Roundtable Q. 9, 2016-0669801C6 - BEPS Action Item 13 |
Income Tax Act - Section 233.8 - Subsection 233.8(3) |
no requirement to produce a Local or Master File |
| Income Tax Act - Section 247 - New - Subsection 247(4) |
BEPS 13 has no effect on the s. 247 documentation requirements |
| 29 November 2016 CTF Roundtable Q. 10, 2016-0669751C6 - U.S. LLPs and LLLPs |
Income Tax Act - Section 248 - Subsection 248(1) - Corporation |
potential propspective filings of LLPs/LLLPs as corps |
| Income Tax Act - Section 96 |
CRA may allow LLPs and LLLPs to file as corps only on a going-forward basis |
| 29 November 2016 CTF Roundtable Q. 11, 2016-0669761C6 - Computation of Earnings for LLCs |
Income Tax Regulations - Regulation 5907 - Subsection 5907(1) - Earnings - Paragraph (a) - Subparagraph (a)(iii) |
LLCs to compute their income under ITA rather than Code rules |
| 29 November 2016 CTF Roundtable Q. 12, 2016-0669851C6 - Support for US FTC Claims |
Income Tax Act - Section 126 - Subsection 126(1) |
acceptable supporting documents for individuals reporting U.S. source income |
| 29 November 2016 CTF Roundtable Q. 13, 2016-0669721C6 - ECE/Class 14.1 |
Income Tax Act - Section 13 - Subsection 13(38) - Paragraph 13(38)(d) |
s. 13(38)(d) does not extend to internally-generated goodwill |
| 29 November 2016 CTF Roundtable Q. 14, 2016-0669871C6 - Estate distribution |
Income Tax Act - 101-110 - Section 104 - Subsection 104(6) |
income from an estate residue generally can be distributed on a deductible basis |
| Income Tax Act - 101-110 - Section 104 - Subsection 104(24) |
income may not be payable to beneficiary if estate required to pay taxes thereon |
| 29 November 2016 CTF Roundtable Q. 15, 2016-0669731C6 - The New SBD provisions |
Income Tax Act - Section 125 - Subsection 125(10) |
sharing of business limit with Rentalco |
| Income Tax Act - Section 129 - Subsection 129(6) |
sharing of business limit where no specified income |
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