6 more translated CRA interpretations are available
We have published a further 6 translations of CRA interpretations (including three 2011 APFF Roundtable items) released in November and October, 2011. Their descriptors and links appear below.
These are additions to our set of 951 full-text translations of French-language Roundtable items and Technical Interpretations of the Income Tax Rulings Directorate, which covers all of the last 7 3/4 years of releases of Interpretations by the Directorate. These translations are subject to the usual (3 working weeks per month) paywall. You are currently in the “open” week for September.
|Bundle Date||Translated severed letter||Summaries under||Summary descriptor|
|2011-11-04||7 October 2011 Roundtable, 2011-0412201C6 F - Art. 160 - dividende en actions suivi d'un rachat||Income Tax Act - Section 160 - Subsection 160(1)||s. 160 could apply to a stock dividend followed by a redemption of the stock dividend shares|
|7 October 2011 Roundtable, 2011-0412021C6 F - Financing Expenses||Income Tax Act - Section 12 - Subsection 12(2.2)||s. 12(2.2) might apply to on-charge, to ultimate group recipient of financing, of the finanacing expenses|
|Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e) - Subparagraph 20(1)(e)(ii.2)||CRA will evaluate whether the transactions are "restructuring"|
|7 October 2011 APFF Roundtable Q. 17, 2011-0412171C6 F - 112(7) - Share-for-Share Exchange - 85(1)||Income Tax Act - Section 112 - Subsection 112(3)||s. 112(3) could still apply if "old" dividend-bearing shares "exchanged" under purported s. 85(1) exchange for "new" but identical shares|
|Income Tax Act - Section 248 - Subsection 248(1) - Disposition||purported dirty s. 85 exchange of old common shares for new common shares does "not necessarily" entail a disposition|
|Income Tax Act - Section 85 - Subsection 85(1)||potentially no disposition if "new" share rights identical|
|Income Tax Act - Section 112 - Subsection 112(7)||s. 112(7) does not “technically” apply to a dirty s. 85 exchange of old shares for new shares|
|2011-10-28||18 October 2011 External T.I. 2011-0394041E5 F - Fiducie personnelle- revenu brut||Income Tax Act - Section 3||capital gains not included in computing income from a source|
|Income Tax Act - Section 248 - Subsection 248(1) - Gross Revenue||gross revenue from farming business did not include capital gains|
|17 October 2011 External T.I. 2011-0423361E5 F - Loi sur le courtage immobilier||General Concepts - Illegality||Quebec real estate brokers can earn their remuneration through a corporation|
|Income Tax Act - Section 9 - Nature of Income||Quebec real estate broker can generate commissions in a controlled corporation|
|18 October 2011 External T.I. 2011-0422021E5 F - Purpose test - Subsection 55(2) of the Act||Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(b)||dividend from grandchild to child likely does not engage s. 55(2) re sale of shares of grandparent|