Joint Committee, "Small Business Deduction Rules under Section 125 of the Income Tax Act - Follow-Up to Our Meeting with Canada Revenue Agency", 2 June 2017 Joint Committee Submission to Finance respecting the Small Business Deduction, appending Submission to Randy Hewlett of the Income Tax Rulings Directorate dated 14 February 2017

Summary Under
Tax Topics - Income Tax Act - Section 125 - Subsection 125(7) - Specified Corporate Income - Paragraph (a) - Subparagraph (a)(i)

Issues with cooperatives (p. 2)

Every farming or fishing Canadian-controlled private corporation (“CCPC”) selling substantially all of its...

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Words and Phrases
interest directly or indirectly
Summary Under
Tax Topics - Income Tax Act - Section 125 - Subsection 125(7) - Specified partnership income - Paragraph (c)

Rigour of “substantially all” test (p. 6)

Partnership X earns 15% of its income from providing services to B Co (which is 10% owned by a...

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