We have translated 8 more CRA interpretations

We have published 8 translations of CRA interpretations released in March of 2004. Their descriptors and links appear below.

These are additions to our set of 2,216 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 18 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
2004-03-26 28 January 2004 External T.I. 2003-0028891E5 F - Perte sur change relative à des contrats de change Income Tax Act - Section 9 - Capital Gain vs. Profit - Foreign Exchange CGE established that accrued loss on FX forward contract is not a contingent liability
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(e) CRA position regarding recognition of accrued income account losses is subject to any application of ss. 18(1)(a) and (e)
15 March 2004 Internal T.I. 2004-0058591I7 F - Projet agricole au sens de 122.3(1)b)(i)(B) Income Tax Act - Section 248 - Subsection 248(1) - Farming foreign woodlot operation was farming
2004-03-19 16 March 2004 External T.I. 2003-0050041E5 F - Fin de société de personnes et 98(5) Income Tax Act - Section 98 - Subsection 98(5) s. 98(5) can apply if all the partners transfer their interests to a corporation at daily, or perhaps, split-second, intervals
2 March 2004 Internal T.I. 2004-0061041I7 F - Safe Income Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) Kruco decision followed
2004-03-12 8 March 2004 External T.I. 2004-0063841E5 F - placement admissible au titre des REER Income Tax Act - Section 262 OTC Bulletin Board stocks not qualified investments (if not of Canadian public corporations)
10 March 2004 External T.I. 2002-0160751E5 F - REÉR au décès: rente pour un bénéficiaire mineur Income Tax Act - Section 60 - Paragraph 60(l) - Subparagraph 60(l)(ii) - Clause 60(l)(ii)(B) s. 60(l)(ii)(B) can apply where the minor child is the sole living testamentary beneficiary but, on the child's death, the residue passes to other beneficiaries2002-0164661E5 F is comparable
10 March 2004 External T.I. 2002-0164661E5 F - REÉR au décès: rente pour un bénéficiaire mineur Income Tax Act - Section 60 - Paragraph 60(l) - Subparagraph 60(l)(ii) - Clause 60(l)(ii)(B) child is the only one, prior to the child’s death, to have a beneficial interest in the amounts payable under the annuity2002-0160751E5 F is comparable
Income Tax Act - Section 146 - Subsection 146(8.1) election can be executed by executor qua executor and qua legal representative of the minor beneficiary, if so authorized2002-0160751E5 F is comparable
9 March 2004 External T.I. 2003-0046961E5 F - Frais payés à une famille d'accueil Income Tax Act - Section 63 - Subsection 63(3) - Child Care Expense - Paragraph (a) occasional short stays with the parents do not qualify as residing with them
Income Tax Act - Section 118.2 - Subsection 118.2(2) - Paragraph 118.2(2)(b.1) fee paid for care by foster family for disabled child could qualify under s.118.2(2)(b.1
Income Tax Act - Section 68 break-out of care component in the invoice for the attendant’s fee would permit CRA to recognize that component