We have translated 5 more CRA Interpretations
We have published 5 translations of CRA interpretation released in May and April, 2009. Their descriptors and links appear below.
These are additions to our set of 1,385 full-text translations of French-language Roundtable items and Technical Interpretations of the Income Tax Rulings Directorate, which covers all of the last 11 3/4 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|
|2009-05-08||30 April 2009 External T.I. 2008-0296721E5 F - Late filed election 85(7) - Amending transactions||Income Tax Act - Section 85 - Subsection 85(1)||CRA will not accept s. 85 election based on self-help rectification to retroactively issue shares at transfer time|
|General Concepts - Rectification & Rescission||CRA will not anticipate a judicial rectification|
|2009-04-24||15 April 2009 Internal T.I. 2008-0301171I7 F - 7(3)b) vs 143.3(3)||Income Tax Act - Section 143.3 - Subsection 143.3(3) - Paragraph 143.3(3)(b)||s. 143.3(3)(b) inapplicable given prior application of s. 7(3)(b)|
|Income Tax Act - Section 7 - Subsection 7(3) - Paragraph 7(3)(b)||recognition of compensation expense under GAAP on granting and then exercise of conventional Pubco options precluded by s. 7(3)(b) and notwithstanding Alcatel|
|2009-04-17||14 April 2009 External T.I. 2009-0307791E5 F - Allocation de retraite et congé de maladie||Income Tax Act - Section 5 - Subsection 5(1)||payment of accumulated sick leave on termination was employment income given pattern of annual payouts|
|Income Tax Act - Section 248 - Subsection 248(1) - Retiring Allowance||payout of accumulated sick leave on employment termination can be a retiring allowance – but not where it has been annually distributed|
|31 March 2009 External T.I. 2009-0310821E5 F - Associated Corporations - 256||Income Tax Act - Section 256 - Subsection 256(1) - Paragraph 256(1)(d)||Mr. B was related to each member of a related group comprising him and his brother for purposes of engaging s. 256(1)(d)|
|2009-04-10||1 April 2009 Internal T.I. 2009-0307151I7 F - Employé ou travailleur autonome||Income Tax Act - Section 5 - Subsection 5(1)||Bills deeming workers not to be employees were unconstitutional|
|Statutory Interpretation - Interpretation Act - Section 8.1||unnecessary to address effect of provincial statutes declared to be invalid|