We have translated 8 more CRA interpretations

We have published a further 8 translations of CRA interpretation released in November of 2004. Their descriptors and links appear below.

These are additions to our set of 2,089 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 ½ 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
2004-11-12 27 October 2004 External T.I. 2004-0063061E5 F - Provision pour somme payable Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose agreement of trust to pay all of its return, in excess of guaranteed return, to its manager likely would not satisfy s. 18(1)(a)
2 November 2004 External T.I. 2004-0063491E5 F - Droit de bénéficiaire et résidence principale Income Tax Act - Section 248 - Subsection 248(25) an individual who would take in the event of the intestacy of a named beneficiary of a trust is beneficially interested in the trust
Income Tax Act - Section 54 - Principal Residence - Paragraph (c.1) - Subparagraph (c.1)(ii) parents could be specified beneficiaries even if they would take only on the intestacy of a named beneficiary or if under the trust deed they had a habitation right
8 November 2004 External T.I. 2004-0067161E5 F - Change étranger Income Tax Act - Section 39 - Subsection 39(2) examples of FX conversions into and out of USD account of US share investor
22 October 2004 Internal T.I. 2004-0079791I7 F - Pension alimentaire Income Tax Act - Section 60.1 - Subsection 60.1(3) s. 60.1(3) did not apply since the judgment recognizing the amounts paid as support was given more than one year later
27 October 2004 External T.I. 2004-0088581E5 F - Prêt à un actionnaire Income Tax Act - Section 15 - Subsection 15(2) - Paragraph 15(2)(b) exception unavailable to the extent loan funded renovations
Income Tax Act - Section 15 - Subsection 15(2) - Paragraph 15(2)(a) exception continues to apply following cessation of employment
8 November 2004 External T.I. 2004-0092021E5 F - RDTOH: Foreign tax credit under sub. 126(1) Income Tax Act - Section 129 - Subsection 129(4) - Non-Eligible Refundable Dividend Tax on Hand - Paragraph (a) - Subparagraph (a)(i) - Variable B RDTOH was reduced by s. 126(1) credit even where it related to a Canadian business rather than a source of property income
Income Tax Act - Section 126 - Subsection 126(7) - Non-Business-Income Tax foreign tax on royalty income generated from a Canadian business generating IP gave rise to credit under s. 126(1) rather than s. 126(2)]
8 October 2004 APFF Roundtable Q. 2, 2004-0085671C6 F - Scission d'entreprise - choix de 86.1 Income Tax Act - Section 86.1 - Subsection 86.1(2) sources of CRA information on s. 86.1
8 October 2004 APFF Roundtable Q. 6, 2004-0090831C6 F - 12(4) L.I.R. et fiducies personnelles Income Tax Act - 101-110 - Section 104 - Subsection 104(24) deemed income (e.g., under Reg. 7000) can be distributed if required by trust terms, or if permitted and trustee unconditionally exercise discretion to do so before year end