We have translated 10 more CRA severed letters
25 April 2022 - 11:21pm
Email this ContentWe have published 2 translations of CRA severed letters released last week and a further 8 translations of CRA interpretation released in February and January of 2005. Their descriptors and links appear below.
These are additions to our set of 2,014 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 17 ¼ 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 |
|---|---|---|---|
| 2022-04-20 | 16 July 2020 Internal T.I. 2019-0817271I7 F - Indemnités reçues à la suite de la négociation | Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) | compensation paid to land owners for their restoration of the portion of their lands not sold to the government would be a s. 12(1)(x) receipt |
| Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(f) | compensation for damages to depreciable property would be included under s. 12(1)(f) rather than under proceeds of disposition, but the related repaid expenses would be deductible | ||
| Income Tax Act - Section 54 - Proceeds of Disposition - Paragraph (e) | compensation for loss of value to lands left after the government agreed to purchase a portion thereof, would constitute proceeds of disposition of such remainder | ||
| 2020 Ruling 2020-0848081R3 F - Subsection 104(4) and pipeline transaction | Income Tax Act - Section 84 - Subsection 84(2) | pipeline transaction implemented after a discretionary inter vivos trust voluntarily realizes capital gains on its 21st anniversary | |
| 2005-02-04 | 26 January 2005 Internal T.I. 2004-0101351I7 F - Déduction pour frais juridiques - Alinéa 60o) | Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | legal costs of disputing GST or sales tax assessments of a business are deductible |
| Income Tax Act - Section 60 - Paragraph 60(b) | legal fees incurred in disputing sales tax assessments are not included | ||
| 27 January 2005 Internal T.I. 2004-0103531I7 F - Dommages Intérêts art.1618- 1619 CCQ | Income Tax Act - Section 9 - Compensation Payments | Irving Oil applied to find that interest on damages received to compensate for additional costs incurred in a construction business, was business income | |
| Income Tax Act - Section 129 - Subsection 129(4) - Income or Loss - Paragraph (b) - Subparagraph (b)(ii) | interest on damages received to compensate for a business loss, was business income | ||
| 2 February 2005 Internal T.I. 2005-0111961I7 F - Reassessment of a Partner | Income Tax Act - Section 152 - Subsection 152(1.4) | CRA can assess a partner directly to change the partnership income allocable to it rather than being required to make a partnership-level determination under s. 152(1.4) | |
| 2005-01-28 | 19 January 2005 External T.I. 2004-0075601E5 F - Fiducie de fonds commun de placement | Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(h) - Subparagraph 53(2)(h)(i.1) | no ACB reduction from distribution of ordinary income or capital gain (cf. ROC distribution) irrespective whether effected as cash or unit distribution |
| Income Tax Act - Section 248 - Subsection 248(25.3) | cost under s. 248(25.3) for distribution of ordinary income or capital gain made as units distribution | ||
| 19 January 2005 External T.I. 2004-0081001E5 F - Réserve de valorisation d'une coopérative | Income Tax Act - Section 135 - Subsection 135(4) - Allocation in Proportion to Patronage | question of fact whether distributions of enhancement reserves are allocations in accordance with patronage | |
| Income Tax Act - Section 181.2 - Subsection 181.2(3) - Paragraph 181.2(3)(b) | enhancement reserve of Quebec cooperative added to capital | ||
| 6 January 2005 External T.I. 2004-0087221E5 F - Modification de la déclaration d'une société | Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(h) - Subparagraph 53(2)(h)(i.1) | return amendment should be requested where a capital gain has been unreported due to a missed ROC distribution | |
| 24 January 2005 External T.I. 2004-0099471E5 F - Convention de retraite pour un actionnaire-employé | Income Tax Act - Section 67 | 81 Roundtable position on shareholder-manager compensation also applies to RCA contributions | |
| Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(r) | no deduction regarding pre-incorporation services, and longstanding CRA position re shareholder-manager compensation | ||
| Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(x) | Part XI.3 tax and s. 56(1)(x) income inclusion apply even where RCA contribution is partially or fully non-deductible | ||
| Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangement | a significant reduction in bonus or salary matched by an RCA contribution likely suggests it instead is an SDA | ||
| 20 January 2005 External T.I. 2004-0104921E5 F - RPDB et déficit cumulé | Income Tax Act - Section 147 - Subsection 147(1) - Profit Sharing Plan | corporation with an accumulated deficit is not precluded from registering a DPSP |