12 more translated CRA interpretations are available

24 December 2019 - 1:44am
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We have published full-text translations of the 10 items from the 11 October 2019 APFF Financial Strategies and Instruments Roundtable that were officially released by the Rulings Directorate last week. We published full translations of the answers to these questions, along with summaries of the questions posed, in October. Now you also have the full-text translations of the questions posed. The answers to the remaining two questions (Q.1 and Q.3) have not yet been released by CRA. We have also published a further 2 translations of CRA interpretations released in March, 2011 (being two items from the 8 October 2010 APFF Roundtable). The descriptors and links appear below.

These are additions to our set of 1,041 full-text translations of French-language Roundtable items and Technical Interpretations of the Income Tax Rulings Directorate, which covers all of the last 8 ¾ years of releases of Interpretations 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
2019-12-18 11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 2, 2019-0811881C6 F - HBP/HBTC - Death of a spouse Income Tax Act - Section 146.01 - Subsection 146.01(1) - Regular Eligible Amount - Paragraph (f) widow who had resided in the home of her deceased husband could access the HBP program to purchase a condo or acquire his home from estate
Income Tax Act - Section 118.05 - Subsection 118.05(1) - Qualifying Home - Paragraph (a) widow who had resided in the home of her deceased husband could access the first-time home buyer’s credit
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 4, 2019-0813421C6 F - TFSA - Survivor Payment - Decrease in FMV Income Tax Act - Section 207.01 - Subsection 207.01(1) - Exempt Contribution - Paragraph (b) survivor payment equals amounts paid under the TFSA to the estate provided the survivor receives at least that amount as TFSA beneficiary
Income Tax Act - Section 207.01 - Subsection 207.01(1) - Unused TFSA Contribution Room - Paragraph (b) - Element D diminution in TFSA property in executors' hands reduces exempt contribution
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 5, 2019-0820901C6 F - TFSA Exempt Contribution - Timing of contribution Income Tax Act - Section 207.01 - Subsection 207.01(1) - Exempt Contribution - Paragraph (c) an exempt contribution to a TFSA can only be made as of right no more than 30 days before the survivor payment was received from an estate
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 6, 2019-0813451C6 F - TFSA - Bequest and disclaimer Income Tax Act - Section 207.01 - Subsection 207.01(1) - Exempt Contribution - Paragraph (b) transfer of TFSA to surviving spouse because of daughter’s renunciation occurred as a consequence of the deceased’s death
Income Tax Act - Section 248 - Subsection 248(8) - Paragraph 248(8)(b) transfer of TFSA to survivor on renunciation of bequest thereof occurred as a consequence of death
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 7, 2019-0821701C6 F - TFSA Exempt Contribution - Survivor payment Income Tax Act - Section 207.01 - Subsection 207.01(1) - Exempt Contribution - Paragraph (b) extension of rollover deadline through Ministerial discretion
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 8, 2019-0811901C6 F - RRIF – Minimum amount after death Income Tax Act - Section 146.3 - Subsection 146.3(1) - Minimum Amount required recognition of RRIF minimum amount in post-terminal year of transfer of RRIF to surviving spouse
Income Tax Act - Section 146.3 - Subsection 146.3(6.11) deduction of RRIF minimum amount in post-terminal year of transfer out of deceased's RRIF to surviving spouse
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 9, 2019-0813281C6 F - Pension splitting - RRIF deemed benefit Income Tax Act - Section 118 - Subsection 118(7) - Pension Income - Paragraph (a) - Subparagraph (a)(iii) deemed payment on death of last RRIF annuitant is not pension income
Income Tax Act - Section 146.3 - Subsection 146.3(6) s. 166.3(6) language does not go on to deem there to be payment by RRIF issuer
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 10, 2019-0812841C6 F - RESP - Change of subscriber Income Tax Act - Section 146.1 - Subsection 146.1(6.1) amounts can be transferred from one RESP to another
Income Tax Act - Section 204.9 - Subsection 204.9(5) - Paragraph 204.9(5)(e) RESP transferor could be liable under s. 204.91(1)
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 11, 2019-0812971C6 F Income Tax Act - Section 2 - Subsection 2(1) CRA uses information collected on an NR73 as its principal tool in assessing individuals’ residency
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 12, 2019-0815181C6 F - RRSP on death and refund of premiums Income Tax Act - Section 146 - Subsection 146(8.1) post-death appreciation in an RRSP could qualify for a s. 146(8.1) rollover
Income Tax Act - Section 146.3 - Subsection 146.3(6.1) rollover of post-death RRIF income under s. 146.3(6.1)
2011-03-25 8 October 2010 Roundtable, 2010-0371901C6 F - avantage à l'actionnaire, assurance-vie Income Tax Act - Section 246 - Subsection 246(1) CRA will examine if there is a s. 246(1) benefit where subsidiary is beneficiary of life insurance policy held and paid for by parent
Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) reimbursement by sub of premiums potentially includible under s. s. 12(1)(x) where it is the beneficiary of life insurance policy held by parent
8 October 2010 Roundtable, 2010-0378521C6 F - Déduction des primes d'assurance frais généraux Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose pro rata deduction of premiums for overhead expense insurance policy where other risks are also covered