6 more translated CRA interpretations are available

We have published a further 6 translations of CRA interpretations released in December 2011 (including 3 questions from the October 2011 APFF Roundtable). Their descriptors and links appear below.

These are additions to our set of 885 full-text translations of French-language Rulings, Roundtable items and Technical Interpretations of the Income Tax Rulings Directorate, which covers the last 7 1/2 years of releases by the Directorate. These translations are subject to the usual (3 working weeks per month) paywall.

Bundle Date Translated severed letter Summaries under Summary descriptor
2011-12-23 15 December 2011 Internal T.I. 2011-0413891I7 F - Récupération d'amortissement-Recapture CCA Income Tax Act - Section 129 - Subsection 129(4) - Income or Loss reasonable to pro-rate recapture of depreciation between active business income and property income based on relative periods of use
Income Tax Act - Section 13 - Subsection 13(1) successive business and property income use of rental property reflected in apportionment of source of ensuing recapture
6 December 2011 External T.I. 2011-0423181E5 F - Safe Income Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) where Shareholder with high SIOH Class F shares converts its low SIOH Class A shares on rollover basis into Class F shares, there is downward averaging of SIOH per share
12 December 2011 External T.I. 2011-0416801E5 F - Safe Income on Hand - Stub Period Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) safe income generally prorated in stub period
7 October 2011 Roundtable, 2011-0411971C6 F - Appraisal Fees Deductibility Income Tax Act - Section 53 - Subsection 53(1) - Paragraph 53(1)(n) appraisal fees for valuing capital property for the purpose of its acquisition or disposition are an ACB addition
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Improvements v. Repairs or Running Expense deductible appraisal fees to revalue fixed assets in accordance with IFRS
7 October 2011 APFF Roundtable Q. 4, 2011-0412071C6 F - Modifying a Capital Dividend Election General Concepts - Effective Date originally declared dividend not altered by subsequent resolution
Income Tax Act - Section 184 - Subsection 184(3) short-cut method for direct assessment of shareholders for excess amount
7 October 2011 APFF Roundtable Q. 29, 2011-0412131C6 F - Subsection 55(2) and Capital Dividend Account Income Tax Act - Section 89 - Subsection 89(1) - Capital Dividend Account - Paragraph (a) - Subparagraph (a)(i) - Clause (a)(i)A) CDA addition from application of s. 55(2)(c) is only available in the following years
Income Tax Act - Section 55 - Subsection 55(2) - Paragraph 55(2)(c) dividend paid in contemplation of subsequent arm’s length share sale is part of proceeds of that sale