We have translated 8 more CRA interpretations
30 May 2022 - 11:03pm
Email this ContentWe have published a further 8 translations of CRA interpretation released in December of 2004. Their descriptors and links appear below.
These are additions to our set of 2,053 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 1/3 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 |
|---|---|---|---|
| 2004-12-03 | 25 November 2004 External T.I. 2004-0079751E5 F - Dépenses d'une auberge limitées par 18(12) | Income Tax Act - Section 96 | pro rata rent received by the 2 equal partners of a partnership operating an inn jointly owned by them would not be respected as rent |
| Income Tax Act - Section 18 - Subsection 18(12) | s. 18(12) would apply to the joint owners of an inn whose wives operate it, with them staying with them on weekends/ no avoidance if partnership interposed | ||
| 29 November 2004 External T.I. 2004-0105131E5 F - Avantages sur options - Diminution de valeur | Income Tax Act - Section 7 - Subsection 7(8) | s. 7(1)(a) benefit is realized under s. 7(8) based on shares’ FMV at exercise, and capital loss is realized if the shares decline before their disposition | |
| 30 November 2004 External T.I. 2004-0090181E5 F - Assurance maladie grave | Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | premiums paid by corporation for critical illness policy of which it is beneficiary are non-deductible per s. 18(1)(a) or (h) | |
| Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(a) - Subparagraph 39(1)(a)(iii) | no capital gain on receipt by corporation of benefit under a critical illness insurance policy or of refund of premiums | ||
| Income Tax Act - Section 15 - Subsection 15(1) | misallocation shareholder benefit could arise if corporation pays premiums for its critical illness policy and sole shareholder pays for rider entitling him to premium refunds | ||
| Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(h) | premiums paid by corporation for critical illness policy of which it is beneficiary are non-deductible pursuant to s. 18(1)(h) | ||
| 30 November 2004 External T.I. 2004-0092941E5 F - Déductibilité des intérêt | Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) - Subparagraph 20(1)(c)(i) | interest deduction not generally denied where negative spread | |
| 12 November 2004 External T.I. 2004-0080051E5 F - Allocation et remboursement de dépenses-employé | Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) - Subparagraph 6(1)(b)(x) | per-kilometre allowance tainted because a per-diem allowance also paid | |
| Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) | per-hour reimbursement of employees’ use of equipment is taxable allowance/ reimbursed employment-related internet use is not taxable | ||
| 23 November 2004 External T.I. 2004-0094101E5 F - IT-474R Administrative Relief | Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(a) | IT-474R, para. 10 provides no administrative relief from short taxation year from amalgamation | |
| Income Tax Act - Section 20 - Subsection 20(24) | amalgamated corporation can make s. 20(24) election | ||
| 29 November 2004 External T.I. 2004-0080891E5 F - Régime d'assurance invalidité | Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(f) | employer cannot render a disability plan a full employee-funded plan by arbitrarily allocating composite employee contributions to that plan | |
| 17 November 2004 External T.I. 2004-0097131E5 F - Travail temporaire; négociation de contrats | Income Tax Act - Section 6 - Subsection 6(6) - Paragraph 6(6)(a) - Subparagraph 6(6)(a)(i) | union executives standing for election every 4 years would not have duties of a temporary nature | |
| Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) - Subparagraph 6(1)(b)(v) | expenses of union employee in negotiating contracts with the union members’ employers would not be included |