We have translated 5 more CRA Interpretations

We have published a further 5 translations of CRA interpretations released in December, 2009. Their descriptors and links appear below.

These are additions to our set of 1302 full-text translations of French-language Roundtable items and Technical Interpretations of the Income Tax Rulings Directorate, which covers all of the last 10 ¾ 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 November.

Bundle Date Translated severed letter Summaries under Summary descriptor
2009-12-18 23 November 2009 Internal T.I. 2009-0324731I7 F - Demande d'exemption administrative Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(v) lump sum worker’s compensation payment could affect Pt. I.2 (OAS clawback) tax
Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(b) legal fees to recover lump sum worker’s compensation payment were non-deductible
26 November 2009 Internal T.I. 2009-0327551I7 F - Montant pour enfant Income Tax Act - Section 118 - Subsection 118(1) - Paragraph 118(1)(b.1) unnecessary to claim the s. 118(1)(b) credit for either parent to claim the s. 118(1)(b.1)(ii) credit/ sharing of credits where 2 or more joint custody children
4 December 2009 Internal T.I. 2009-0344991I7 F - Paragraphe 246(1) et le jugement Massicotte Income Tax Act - Section 246 - Subsection 246(1) notwithstanding Massicotte, s. 246(1) generally should only be relied upon secondarily
2009-12-11 19 November 2009 External T.I. 2007-0257251E5 F - Assurance-vie Income Tax Act - Section 148 - Subsection 148(9) - Disposition - Paragraph (d) disposition by operation of law if there is a new contract
Income Tax Act - Section 148 - Subsection 148(10) - Paragraph 148(10)(d) designation of a different beneficiary does not entail a disposition
Income Tax Act - Section 15 - Subsection 15(1) s. 15(1) benefit where sub is policyholder and premium payer and parent is beneficiary – but not for reverse
Income Tax Act - Section 89 - Subsection 89(1) - Capital Dividend Account - Paragraph (d) CDA addition to beneficiary not reduced by ACB of policy to the different policyholder - but s. 246(1) or 245(2) germane
1 December 2009 Internal T.I. 2009-0324951I7 F - Prix de base rajusté des actions d'une société Income Tax Act - Section 53 - Subsection 53(1) - Paragraph 53(1)(c) generally ACB adjustment for capital expenditures by shareholders on corporate building