| 27 November 2018 CTF Roundtable Q. 1, 2018-0780061C6 - Allocation of safe income |
Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) |
rulings on safe income allocation to discretionary dividend shares |
| 27 November 2018 CTF Roundtable Q. 2, 2018-0780071C6 - Impact of 55(2) deeming rules |
Income Tax Act - Section 112 - Subsection 112(3) - Paragraph 112(3)(b) - Subparagraph 112(3)(b)(i) |
stop-loss rule does not apply to the extent of the application of s. 55(2) |
| Income Tax Act - Section 89 - Subsection 89(1) - Capital Dividend Account - Paragraph (a) - Subparagraph (a)(i) |
53(1)(b)(ii) and 52(3)(a) exclusion limited to where 55(2) did not apply to the stock dividend or PUC increase |
| Income Tax Act - Section 53 - Subsection 53(1) - Paragraph 53(1)(b) - Subparagraph 53(1)(b)(ii) |
no basis reduction for s. 84(1) dividend to which s. 55(2) applied |
| Income Tax Act - Section 52 - Subsection 52(3) |
cost under s. 52(3) for stock dividend amount to which s. 55(2) applied |
| Income Tax Act - Section 52 - Subsection 52(2) |
property dividended has cost equal to FMV where subject to s. 55(2) |
| 27 November 2018 CTF Roundtable Q. 3, 2018-0779891C6 - MLI Issues |
Treaties - Multilateral Instrument - Article 8 - Article 8(1) |
overview of removal of provisional reservations |
| 27 November 2018 CTF Roundtable Q. 4, 2018-0779931C6 - OECD TP Guidelines |
Income Tax Act - Section 247 - New - Subsection 247(2) |
2017 OECD Transfer Pricing Guidelines reflects the interpretation of OECD countries, including Canada, before their release |
| 27 November 2018 CTF Roundtable Q. 5, 2018-0780041C6 - GAAR on PUC reduction |
Income Tax Act - Section 84 - Subsection 84(3) |
no challenge of a reduction of PUC of shares of DC held by TC before redemption |
| Income Tax Act - Section 245 - Subsection 245(4) |
avoidance of s. 88(1)(b) where insufficient safe income was abusive |
| Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(b) |
where Parent acquired the net tax equity in Subco at a bargain price (low share ACB), avoiding a s. 88(1)(b) gain on wind-up through reducing PUC is abusive |
| 27 November 2018 CTF Roundtable Q. 6, 2018-0779901C6 - Appeal Process Update |
Income Tax Act - Section 165 - Subsection 165(3) |
service standard for resolving objections |
| 27 November 2018 CTF Roundtable Q. 7, 2018-0779951C6 - Recent Negligence Cases |
Income Tax Act - Section 152 - Subsection 152(1) |
CRA positions on plain vanilla domestic structures may not be portable to offshore structures |
| 27 November 2018 CTF Roundtable Q. 8, 2018-0779961C6 - RPI and Risk-Based Audits |
Income Tax Act - Section 152 - Subsection 152(1) |
IRAS (Tier I risk assessment) |
| 27 November 2018 CTF Roundtable Q. 9, 2018-0779981C6 - TOSI–Excluded Amount - Non-Related Bus. Exception |
Income Tax Act - Section 120.4 - Subsection 120.4(1) - Excluded Shares |
investment business a business for excluded share purposes |
| Income Tax Act - Section 120.4 - Subsection 120.4(1) - Excluded Amount - Paragraph (e) - Subparagraph (e)(i) |
“derivation” for TOSI purposes of dividends from previously earned income from a related business |
| 27 November 2018 CTF Roundtable Q. 10, 2018-0780081C6 - TOSI – Excluded Shares & Related Business |
Income Tax Act - Section 120.4 - Subsection 120.4(1) - Excluded Shares |
exclusion for investment business or passive amounts not derived from a related business |
| 27 November 2018 CTF Roundtable Q. 11, 2018-0779971C6 - Record Retention Policy Guideline |
Income Tax Act - Section 232 - Subsection 232(1) - Solicitor-Client Privilege |
solicitor-client privilege does not extend to list of uncertain tax positions |
| Income Tax Act - Section 231.1 - Subsection 231.1(1) |
in some circumstances CRA considers that it can require a taxpayer to disclose its uncertain tax positions |
| 27 November 2018 CTF Roundtable Q. 12, 2018-0785021C6 - Investment management fees |
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| 27 November 2018 CTF Roundtable Q. 13, 2018-0779991C6 - 20(1)(c) & Triangular Amalgamation |
Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) - Subparagraph 20(1)(c)(i) |
interest on money borrowed by parent for use in connection with a triangular amalgamation to redeem preferred shares issued by Target can be deductible |
| 27 November 2018 CTF Roundtable Q. 14, 2018-0779911C6 - Foreign exchange |
Income Tax Act - Section 20 - Subsection 20(14) |
accrued interest translated on transfer date |
| Income Tax Act - Section 261 - Subsection 261(2) - Paragraph 261(2)(b) |
accrued interest under both ss. 20(14)(a) and (b) is translated at the transfer date spot rate |
| 27 November 2018 CTF Roundtable Q. 15, 2018-0780011C6 - Class 14.1 |
Income Tax Act - Section 13 - Subsection 13(35) - Paragraph 13(35)(a) |
capital expenditures not giving rise to property are deemed to be goodwill property |
| Income Tax Regulations - Schedules - Schedule II - Class 14.1 |
Class 14.1 “property” need not be property |
| 27 November 2018 CTF Roundtable Q. 16, 2018-0780031C6 - 2018 CTF - Q16 - Passive Income Reduction Rules |
Income Tax Act - Section 125 - Subsection 125(5.1) - Paragraph 125(5.1)(b) |
effective date of the passive income rules for non-calendar year associated corporations |
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