We have translated 10 more CRA interpretations

12 July 2021 - 10:57pm
Email this ContentEmail this Content

We have published a further 10 translations of CRA interpretation released in September, 2007. Their descriptors and links appear below.

These are additions to our set of 1,622 full-text translations of French-language severed letters (mostly, Roundtable items and Technical Interpretations) of the Income Tax Rulings Directorate, which covers all of the last 13 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
2007-09-28 12 September 2007 External T.I. 2006-0211121E5 F - Fiducie non-résidente Income Tax Act - Section 94 - Subsection 94(1) - Resident Contributor must generally consider whether the mooted resident contributor was resident in Canada at the trust’s year end and had made a contribution thereto then or prior thereto
Income Tax Act - Section 233.3 - Subsection 233.3(1) - Specified Foreign Property generally no reporting obligations on T1135 where interest in non-resident trust acquired for not consideration
2007-09-21 13 September 2007 External T.I. 2007-0251081E5 F - Transactions d'options d'achat d'actions Income Tax Act - Section 49 - Subsection 49(1) before any GAAR application, an expiring non-capital loss can be converted to a net capital loss by selling a covered option at year end and purchasing an offsetting position a few days later
11 September 2007 External T.I. 2007-0227421E5 F - Investment tax Credit - Production of Slate Income Tax Act - Section 248 - Subsection 248(1) - Mineral Resource extracting slate from quarry would be producing industrial minerals rather than extracting minerals from a mineral resource
2007-09-14 29 August 2007 Internal T.I. 2007-0219931I7 F - Perte sur taux de change - société de personnes Income Tax Act - Section 39 - Subsection 39(2) s. 39(2) gain to partnership when USD advance owing by it is converted to units
Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(c) - Subparagraph 53(2)(c)(i) no basis increase where partner converts its USD advance with accrued FX gain into additional units
24 July 2007 External T.I. 2007-0227261E5 F - Remise de certificats cadeaux à des employés
Income Tax Act - Section 5 - Subsection 5(1) gift certificates given out to employees on a draw are cash equivalent taxable gifts
4 September 2007 Internal T.I. 2007-0237791I7 F - Gain et perte sur taux de change Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(i) USD loan to parent no longer represented money on deposit, so that funds movement generated FX gain or loss
Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(g) - Subparagraph 40(2)(g)(ii) s. 40(2)(g)(ii) extended to FX losses on non-interest-bearing loan to parent
2007-09-07 24 August 2007 External T.I. 2006-0215691E5 F - Ristourne d'un régime d'assurance collective Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(f) application of rebate by employer-policyholder to reduce premiums payable by employees would render their disability benefits partly taxable
17 July 2007 Internal T.I. 2007-0241701I7 F - Remboursement de primes versées à un RPAM Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) refund of premiums when coverage denied did not generate a taxable benefit
2007-08-31 13 August 2007 External T.I. 2007-0224151E5 F - Surplus Stripping Income Tax Act - Section 84 - Subsection 84(2) proposed transactions that converted the proceeds of sale of a business into proceeds of share sale were surplus-stripping transactions
22 August 2007 External T.I. 2007-0242721E5 F - Frais de déménagement engagés par un étudiant Income Tax Act - Section 62 - Subsection 62(1) - Paragraph 62(1)(c) student cannot deduct moving expenses against future employment income