2017-03-15 |
2 February 2017 Quebec CPA Individual Taxation Roundtable Q. 1.1, 2016-0674221C6 F - General deduction from tax - 123.4 |
Income Tax Act - Section 123.4 - Subsection 123.4(1) - Full Rate Taxable Income |
income on which the SBD was not claimed nonetheless is not eligible for the general rate deduction |
2 February 2017 Quebec CPA Individual Taxation Roundtable Q. 1.2, 2017-0682711C6 F - Dedicated Telephone Service for Income Tax Service |
Income Tax Act - Section 152 - Subsection 152(1) |
telephone service for those with complex technical tax issues will initially be limited to Ontario and Quebec CPAs |
2 February 2017 Quebec CPA Individual Taxation Roundtable Q. 1.3, 2016-0674821C6 F - Individuals separated living under the same roof |
Income Tax Act - Section 122.6 - Cohabiting Spouse or Common-Law Partner |
couple under the same roof can be living separate and apart |
Income Tax Act - Section 248 - Subsection 248(1) - Common-Law Partner |
meaning of living "separate and apart" |
2 February 2017 Quebec CPA Individual Taxation Roundtable Q. 1.4, 2016-0674831C6 F - Changement d'usage - duplex |
Income Tax Act - Section 45 - Subsection 45(1) - Paragraph 45(1)(c) |
substantially renovating the personal-use portion of a rental property (without changing floor areas) generally would not engage the change-of-use rules |
Income Tax Act - Section 4 - Subsection 4(1) - Paragraph 4(1)(a) |
apportionment of operating expenses of duplex used both personally and for rental income |
Income Tax Act - Section 248 - Subsection 248(1) - Property |
duplex is single property |
2 February 2017 Quebec CPA Individual Taxation Roundtable Q. 1.5, 2016-0674801C6 F - Allocation et frais d'une automobile |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(k) - Subparagraph 6(1)(k)(v) |
electric vehicles treated the same |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) - Subparagraph 6(1)(b)(vii.1) |
general reasonability of a car allowance rate of $0.54/$0.48 per kilometre including for electric vehicles |
2 February 2017 Quebec CPA Individual Taxation Roundtable Q. 1.6, 2016-0674861C6 F - Wholly dependent person tax credit |
Income Tax Act - Section 118 - Subsection 118(1) - Paragraph 118(1)(b) - Subparagraph 118(1)(b)(ii) |
meaning of support/legal custody not required/ITA is silent on number of days child must spend with parent |
2 February 2017 Quebec CPA Individual Taxation Roundtable Q. 1.7, 2016-0674811C6 F - Allocations automobiles & dépenses afférentes |
Income Tax Regulations - Regulation 200 - Subsection 200(3) |
correction of T4s |
Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(h.1) |
if vehicle allowance is too low, employee can include the allowance and deduct the vehicle expenses/T2200 production expected |
2 February 2017 Quebec CPA Individual Taxation Roundtable Q. 1.8, 2016-0674851C6 F - HBTC - Acquisition by way of gift |
Income Tax Act - Section 118.05 - Subsection 118.05(1) - Qualifying Home |
gifted home can qualify for the HBTC |