We have translated 8 more CRA interpretations
24 January 2022 - 11:20pm
Email this ContentWe have published a further 8 translations of CRA interpretation released in October, September and August, 2005. Their descriptors and links appear below.
These are additions to our set of 1,898 full-text translations of French-language Technical Interpretation and Roundtable items (plus some ruling letters) of the Income Tax Rulings Directorate, which covers all of the last 16 ½ years of releases of such items 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 |
|---|---|---|---|
| 2005-10-07 | 26 August 2005 Internal T.I. 2005-0131171I7 F - Alinéa 18(1) e) de la LIR | Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(e) | no specific contractual obligation regarding maintenance obligation |
| Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Incurring of Expense | no expense incurred for maintenance obligation until contractual obligation to someone | ||
| 30 September 2005 External T.I. 2004-0093661E5 F - Revenu d'une fiducie et droit acquis par un mineur | Income Tax Act - 101-110 - Section 104 - Subsection 104(6) | a specific clause allocating taxable portion of capital gains to income beneficiary and non-taxable portion to capital beneficiary can be recognized | |
| Income Tax Act - 101-110 - Section 104 - Subsection 104(24) | written trustee resolution may be necessary to establish that an amount of income has become payable | ||
| 2005-09-16 | 12 September 2005 External T.I. 2005-0134631E5 F - Superficial Loss - Realization of Latent Loss | Income Tax Act - Section 54 - Superficial Loss | loss could be realized by 4 unrelated individuals transferring their equal shareholdings of Opco to Newco |
| Income Tax Act - Section 251 - Subsection 251(1) - Paragraph 251(1)(c) | 4 unrelated individuals transferring their equal shareholdings of Opco to Newco could be a NAL transaction | ||
| 2005-09-09 | 31 August 2005 Internal T.I. 2005-0134831I7 F - Capital Gains Exemption Strip | Income Tax Act - Section 245 - Subsection 245(4) | the use of s. 40(3.6)(b) for surplus-stripping purposes would be referred to the GAAR Committee |
| Income Tax Act - Section 40 - Subsection 40(3.6) | individuals holding high-ACB/low-PUC prefs and low ACB/PUC common shares preserved that ACB under s. 40(3.6)(b) for surplus-stripping purposes on their prefs’ redemption | ||
| Income Tax Act - Section 84.1 - Subsection 84.1(1) - Paragraph 84.1(1)(a) | s. 84.1 did not apply to transferring crystallized preferred shares’ ACB to common shares under s. 40(3.6)(b), with those shares exchanged for high-PUC prefs of new Holdcos for cash redemption | ||
| 31 August 2005 External T.I. 2005-0114421E5 F - Frais de garde d'enfants | Income Tax Act - Section 63 - Subsection 63(3) - Child Care Expense | fees for breach of contract can qualify but not educational fees | |
| 26 August 2005 Internal T.I. 2005-0121871I7 F - Assurance-vie commissions reçues par une société | Income Tax Act - Section 9 - Nature of Income | exemption for life insurance commissions on broker’s own life inapplicable where commission is assigned to his corporation carrying on the business | |
| 2005-09-02 | 26 July 2005 External T.I. 2004-0097031E5 F - Règles sur les entités de placement étrangères | Income Tax Act - Section 95 - Subsection 95(8) | description of Barbados cell company in context of previous tracking interest rules |
| 2005-08-19 | 2 August 2005 External T.I. 2005-0112871E5 F - Cotisation professionnelle | Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(i) - Subparagraph 8(1)(i)(i) | fees paid by municipal mangers to a professionals corporation formed under private member’s bill were non-deductible |