We have translated 8 more CRA interpretations
28 March 2022 - 11:44pm
Email this ContentWe have published a further 8 translations of CRA interpretation released in April, 2005. Their descriptors and links appear below.
These are additions to our set of 1,977 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 ¾ years of releases of such items by the Directorate. These translations are subject to our paywall (applicable after the 5th of each month).
| Bundle Date | Translated severed letter | Summaries under | Summary descriptor |
|---|---|---|---|
| 2005-04-15 | 21 March 2005 Internal T.I. 2005-0119961I7 F - CCPC STATUS | Income Tax Act - Section 251.2 - Subsection 251.2(2) - Paragraph 251.2(2)(a) | moving from one shareholder to 2 equal shareholders generally entails an acquisition of control unless there is deadlock |
| General Concepts - Effective Date | effective date of transfer of shares (entailing acquisition of control) cannot precede determination of essential contract elements | ||
| 29 March 2005 Internal T.I. 2005-0111401I7 F - Article 7306 du Règlement | Income Tax Regulations - Regulation 7306 | referenced taxation year is the individual's calendar year | |
| 2005-04-08 | 4 April 2005 External T.I. 2005-0110941E5 F - Transfert d'une police d'assurance-vie | Income Tax Act - Section 15 - Subsection 15(1) | factors relevant to determining FMV of life insurance policy |
| Income Tax Act - Section 148 - Subsection 148(9) | ACB of life insurance policy transferred to shareholder increased by s. 15(1) benefit | ||
| 2005-04-01 | 17 March 2005 External T.I. 2005-0118601E5 F - Sale of Shares-Transfer of Family Business | Income Tax Act - Section 84.1 - Subsection 84.1(2) - Paragraph 84.1(2)(a.1) - Subparagraph 84.1(2)(a.1)(ii) | preliminary s. 85(1)(g) exchange transaction for crystallized preferred shares avoided application of s. 84.1(2)(a.1)(ii) |
| Income Tax Act - Section 245 - Subsection 245(4) | GAAR could apply where previous capital gains crystallization transaction indirectly generated a capital loss on a pref redemption transaction | ||
| 30 March 2005 External T.I. 2004-0102421E5 F - Placement à rendement progressif | Income Tax Regulations - Regulation 7000 - Subsection 7000(2) - Paragraph 7000(2)(c) | the computation should use the maximum known rate for each period, and assign nil to a period for which no rate is specified | |
| 18 March 2005 External T.I. 2004-0070911E5 F - Allocation ou salaire - traitement fiscal | Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) - Subparagraph 6(1)(b)(iii) | meaning of representation allowance | |
| 18 March 2005 External T.I. 2004-0089661E5 F - Fiducie personnelle-Résidence principale | Income Tax Act - Section 54 - Principal Residence - Paragraph (c.1) - Subparagraph (c.1)(ii) | the residence being leased to the specified beneficiary does not change that it may be a principal residence to the trust | |
| Income Tax Act - 101-110 - Section 107 - Subsection 107(4) | application of s. 107(4) to spouse trust respecting residence turned on whether such trust was terminated by such income interest being distributed to the capital beneficiary during the spouse’s lifetime or on her death | ||
| Income Tax Act - 101-110 - Section 106 - Subsection 106(2) | s. 106(2) engaged where income interest renounced in favour of capital beneficiary, but not where extinguishment on death | ||
| 18 March 2005 External T.I. 2005-0117691E5 F - Significant increase in interest in any corp | Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) - Subparagraph 55(3)(a)(ii) | preliminary transfer of Opco shares to Holdco preliminary to a spin-off engaged the s. 55(3)(a)(ii) exclusion |