| 2019-07-31 |
12 June 2019 External T.I. 2019-0792011E5 F - TOSI definition excluded shares |
Income Tax Act - Section 120.4 - Subsection 120.4(1.1) - Paragraph 120.4(1.1)(d) |
income derived from related business included income from reinvesting sales proceeds from sale thereof in preceding year |
| Income Tax Act - Section 120.4 - Subsection 120.4(1) - Excluded Shares - Paragraph (c) |
two years were required to pass before proceeds from the sale of a related business could generate excluded share income for TOSI purposes |
| 13 August 2018 Internal T.I. 2018-0763611I7 F - Subpar 152(4)(b)(iii) and FAPI |
Income Tax Act - Section 152 - Subsection 152(4.01) - Paragraph 152(4.01)(b) - Subaragraph 152(4.01)(b)(iii) |
reassessment of FAPI from marketable securities related to their previous contribution by the taxpayer |
| Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(b) - Subparagraph 152(4)(b)(iii) |
the extended reassessment period can apply to FAPI earned even before the 2018 Budget |
| 2011-11-04 |
7 October 2011 Roundtable, 2011-0411951C6 F - Retenues à la source - options d'achat d'actions |
Income Tax Regulations - Regulation 6204 - Subsection 6204(1) - Paragraph 6204(1)(a) |
conferral on employer of share repurchase right to set off against source deduction obligation engages the exclusion |
| Income Tax Regulations - Regulation 6204 - Subsection 6204(1) - Paragraph 6204(1)(b) |
loss of prescribed share status where employer granted redemption right to cover s. 153(1.01) withholding obligations |
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| Income Tax Act - Section 153 - Subsection 153(1.01) |
treatment of net share issuances under review |
| 7 October 2011 Roundtable, 2011-0408251C6 F - REER, règle d'attribution, retenues à la source |
Income Tax Act - Section 146 - Subsection 146(8.3) |
s. 146(8.3) applied since not yet separated at time of withdrawal even though withholding for account of spouse |
| Income Tax Act - Section 153 - Subsection 153(1) - Paragraph 153(1)(j) |
application of s. 153(1)(j) not affected by application of s. 146(8.3) |
| 7 October 2011 Roundtable, 2011-0399401C6 - Butterfly, life insurance policies, grandfathering |
Income Tax Act - Section 55 - Subsection 55(4) |
s. 55(4) in applicable if the principal reason for parent’s control of DC was parent's economic interests |
| Income Tax Act - Section 55 - Subsection 55(1) - Distribution |
CSV of life insurance policy was a cash asset - FMV excess could be an investment asset if no cash-out intention |
| Income Tax Act - Section 55 - Subsection 55(3.1) - Paragraph 55(3.1)(a) |
a policy loan under a life insurance policy to reduce its CSV would trigger s. 55(3.1)(a) |
| 7 October 2011 Roundtable, 2011-0413081C6 F - 227(4) et (4.1) - vente d'un bien à un tiers |
Income Tax Act - Section 227 - Subsection 227(4.1) |
deemed trust applies only to sales proceeds (but such a purchaser does not include a seizing creditor) |
| Income Tax Act - Section 227 - Subsection 227(4) |
deemed trust is a universal floating charge that traces through to sales proceeds |
| 7 October 2011 Roundtable, 2011-0412161C6 F - Timing of the increase in interest - stock option |
Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) - Subparagraph 55(3)(a)(ii) |
grant of in-the-money options to key employee as part of same series could be a significant increase in interest – which otherwise occurs on exercise |
| 7 October 2011 Roundtable, 2011-0399421C6 F - Options, biens identiques, PBR |
Income Tax Act - Section 7 - Subsection 7(1.3) |
application of s. 47(1) takes s. 7(1.3) into account |
| 7 October 2011 Roundtable, 2011-0399441C6 F - T1135 - coût indiqué d'une assurance-vie |
Income Tax Act - Section 233.3 - Subsection 233.3(1) - Reporting Entity |
cost amount of foreign policy is its adjusted cost basis |
| Income Tax Act - Section 248 - Subsection 248(1) - Cost Amount - Paragraph (f) |
adjusted cost basis of policy is generally its “cost” under para. (f) |
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