We have translated 8 more CRA severed letters
4 November 2024 - 11:04pm
Email this ContentWe have translated a ruling and interpretation released by CRA last week and a further 6 CRA interpretations released in May of 2001. Their descriptors and links appear below.
These are additions to our set of 2,992 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 23 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 |
|---|---|---|---|
| 2024-10-30 | 2023 Ruling 2023-0986521R3 F - 104(4) and Pipeline | Income Tax Act - Section 84 - Subsection 84(2) | pipeline transfer by inter vivos family trust of preferred shares (stepped-up under s. 104(4)(b)(ii)) to an existing family company for notes |
| Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(b) - Subparagraph 104(4)(b)(ii) | inter vivos chooses to realize gain on its preferred shares on its 21st anniversary, and transfer those shares for notes in a pipeline trnasaction | ||
| 29 May 2024 External T.I. 2019-0819561E5 F - Catégorie d’amortissement 53 de l’Annexe II du Règlement | Income Tax Regulations - Schedules - Schedule II - Class 53 | having equipment owned separately from the services business in which its product is used could permit it to qualify as Class 53 property | |
| Income Tax Regulations - Schedules - Schedule II - Class 29 | having equipment owned separately from the services business in which its product is used could permit the manufactured product to be “sold” to the services business | ||
| 2001-05-25 | 22 May 2001 External T.I. 2000-0021095 F - DEMUTULISATION NON-RESIDENT | Income Tax Act - Section 139.1 - Subsection 139.1(16) | non-resident interest person needs to make the election for s. 139.1(16) to apply – if so, per s. 139.1(16)(k), no Part XIII tax applicable to individual re the cash payment |
| Income Tax Act - Section 139.1 - Subsection 139.1(15) | potential application of Pt. XIII tax to premiums paid by non-resident corporation | ||
| 22 May 2001 External T.I. 2000-0047245 F - Divorce | Income Tax Act - Section 251 - Subsection 251(1) - Paragraph 251(1)(c) | reciprocal transactions completed after divorce would be non-arm’s length | |
| Income Tax Act - Section 84.1 - Subsection 84.1(1) | sale of ex-wife’s shares of Opco (acquired in marriage settlement) to new Holdco of her ex-husband for Holdco note would engage s. 84.1 if these were “reciprocal transactions” | ||
| 29 May 2001 External T.I. 2000-0055915 F - DEDUCTIBILITE DES COMMISSIONS - ASSURANCE | Income Tax Act - Section 18 - Subsection 18(9.02) | background to s. 18(9.02) | |
| 25 May 2001 External T.I. 2001-0067415 F - CONSOLIDATION DE PERTES | Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) | related-person loss transfer transactions must be commercially reasonable to satisfy s. 20(1)(c) | |
| Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(a) | CCRA loss consolidation policy is available where Profitco’s income is FAPI/ requirements re transactions being commercially reasonable | ||
| 29 May 2001 External T.I. 2001-0075245 F - SOCIETE DE GESTION DE PENSION | Income Tax Act - Section 149 - Subsection 149(1) - Paragraph 149(1)(o.2) - Subparagraph 149(1)(o.2)(i) | s. 149(1)(o.2)(i) corporation can be incorporated for the administration of more than one RPP – but cannot be incorporated to provide management services to other RPPs | |
| Statutory Interpretation - Interpretation Act - Subsection 33(2) | reference to administration of one pension plan included two or more | ||
| 23 May 2001 External T.I. 2001-0077855 F - PLACEMENT ADMISSIBLE REER | Income Tax Regulations - Regulation 4900 - Subsection 4900(8) | did not extend to services rendered in connection with the company’s incorporation |