5 more translated CRA interpretations are available
We have published a further 5 translations of CRA interpretations released in September, 2010. Their descriptors and links appear below.
These are additions to our set of 1,169 full-text translations of French-language Roundtable items and Technical Interpretations of the Income Tax Rulings Directorate, which covers all of the last 9 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|
|2010-09-17||25 August 2010 External T.I. 2010-0374231E5 F - Safe income allocation||Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c)||safe income required to be allocated to prefs and new common shares received on a s. 51 exchange even where the redemption amount of the prefs matched the amount of such safe income|
|General Concepts - Fair Market Value - Shares||Compliance Programs Branch now providing advance guidance on valuation methodology|
|2010-09-10||17 August 2010 External T.I. 2010-0367371E5 F - Fin d'un usufruit - résidence principale||Income Tax Act - Section 248 - Subsection 248(3)||dissolution of s. 248(3) trust when the usufructuaries renounced their right of usufruct|
|Income Tax Act - Section 54 - Principal Residence - Paragraph (a.1)||usufructuary parents were specified beneficiaries based on their inhabiting the housing unit|
|Income Tax Act - 101-110 - Section 107 - Subsection 107(2.01)||deemed s. 248(3) trust that dissolved when the usufructuary parents renounced their, makes a s. 107(2.01) or (2.001) to apply principal residence exemption to dissolution gain|
|12 August 2010 External T.I. 2010-0360171E5 F - Déclaration T-1135 et biens étrangers||Income Tax Act - Section 233.2 - Subsection 233.2(1) - Exempt Trust||exempt foreign trust definition contains strict conditions|
|Income Tax Act - Section 233.3 - Subsection 233.3(1) - Specified Foreign Property - Paragraph (n)||Swiss vested benefits account was not exempted|
|24 August 2010 External T.I. 2010-0354791E5 F - Commission d'un non-résident - 105(1) RIR||Income Tax Regulations - Regulation 105 - Subsection 105(1)||fee for services performed wholly in UK re sale of Canadian real estate not subject to withholding|
|19 August 2010 External T.I. 2009-0344111E5 F - Résidence Société Capital-Risque - Conv Can-France||Treaties - Income Tax Conventions - Article 4||French venture capital corporation is resident in France (“liable to tax”) notwithstanding that it has elected to be exempt on its portfolio gains|