We have translated 5 more CRA Interpretations

We have published a further 5 translations of CRA interpretations released in February and January, 2010. Their descriptors and links appear below.

These are additions to our set of 1,278 full-text translations of French-language Roundtable items and Technical Interpretations of the Income Tax Rulings Directorate, which covers all of the last 10 2/3 years of releases of Interpretations by the Directorate. These translations are subject to the usual (3 working weeks per month) paywall. Next week is the open” week for October.

Bundle Date Translated severed letter Summaries under Summary descriptor
2010-02-05 15 January 2010 External T.I. 2009-0343841E5 F - Application du paragraphe 127(10.22) Income Tax Act - Section 127 - Subsection 127(10.22) interposition of Holdco broke a condition for application of s. 127(10.22)
1 February 2010 Internal T.I. 2010-0354671I7 F - Frais de gestion à une fiducie Income Tax Act - Section 67 CRA policy of not challenging reasonableness of bonuses paid by CCPC to an individual holding through Holdco does not apply where individual holds through trusts
21 December 2009 Internal T.I. 2008-0296131I7 F - Fraction à risque Income Tax Act - Section 96 - Subsection 96(2.2) - Paragraph 96(2.2)(c) exception from s. 96(2.2)(c) for legitimate business loans from related parties
14 January 2010 Internal T.I. 2009-0323991I7 F - Débenture échangeable et opération à terme Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(f) only ½ deduction under s. 20(1)(f)(ii) for premium paid on cash-settling an exchangeable debenture under pre-2010 policy, and no s. 20(1)(f) deduction for cash settlement of forward
Income Tax Act - Section 9 - Capital Gain vs. Profit - Futures/Forwards/Hedges premium was paid on capital account in closing out a cash-settled forward entered into in order to monetize a shareholding
Income Tax Act - Section 152 - Subsection 152(1) CRA position of applying changes in published policy prospectively
Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(i) full deduction of amounts only partly, or not, deductible under s. 20(1)(f) would have caught the eye of a wise and prudent person reviewing the return
2010-01-29 26 January 2010 External T.I. 2009-0344121E5 F - REER, déduction pour cotisations excédentaires Income Tax Act - Section 146 - Subsection 146(8.2) - Paragraph 146(8.2)(c) a reference in Part I to a notice of assessment refers to a Part I notice of assessment