Income Tax Severed Letters

This Week's Release

Ruling

2023 Ruling 2021-0919771R3 - Loss consolidation arrangement

Unedited CRA Tags
20(1)(c); 112(1); 88(1); 245(1)

Principal Issues: Whether a loss consolidation arrangement involving a loan to buy preferred shares for the purposes of earning income would meet the CRA's requirement for acceptable loss consolidation transactions.

Position: Yes.

Reasons: Consistent with previous rulings.

Technical Interpretation - External

8 March 2023 External T.I. 2017-0729871E5 F - Déduction supplémentaire prévue au sous-alinéa 110

Unedited CRA Tags
1100(1)c.1)(i) RIR

Principales Questions: Est-ce qu’un contribuable peut demander la somme supplémentaire prévue au sous-alinéa 1100(1)c.1)(i) à l’égard d’un bien de la catégorie 14.1 de l’annexe II lorsque ce bien est acquis après le 31 décembre 2016 à la suite d’un transfert par voie de roulement en vertu de l’article 85? / Whether a taxpayer may claim the additional amount under subparagraph 1100(1)(c.1)(i) in respect of a property included in Class 14.1 of Schedule II when the property is acquired after December 31, 2016 following a rollover under section 85.

Position Adoptée: Non. / No.

Raisons: Le libellé du sous-alinéa 1100(1)c.1)(i) prévoit que la déduction d’amortissement supplémentaire de 2% est admise sur la partie de la fraction non amortie du coût en capital des biens de la catégorie 14.1 au début du 1er janvier 2017 qui excède le total des sommes décrites aux divisions (A) et (B) de ce sous-alinéa. / Wording of subparagraph 1100(1)(c.1)(i) provides that the additional allowance of 2% is allowed on the undepreciated capital cost of the class 14.1 at the beginning of 2017 that exceeds the total of all amounts described in clauses (A) and (B) of that subparagraph.

Technical Interpretation - Internal

15 February 2023 Internal T.I. 2022-0925731I7 - Qualified donee - Article XXI of Canada-US Treaty

Unedited CRA Tags
149.1(1) "qualified donee"; Article XXI Canada-US Treaty

Principal Issues: Does paragraph 7 of Article XXI of the Canada-US Treaty deem a U.S. 501(c)(3) organization to be "qualified donee" for purposes of subsections 149.1(2), (3) and (4) of the Act?

Position: No.

Reasons: The Canada-U.S. Treaty provides limited tax relief to residents of Canada and the U.S. who may be subject to double taxation on income and on capital imposed on behalf of each country. Subsections 149.1(2), (3) and (4) govern the revocation of a charity's registered status and not the imposition of taxes.

Archive

2023
April
February
January
2022
December
November
October
September
August
June
April
February
January
2021
December
November
October
September
August
April
February
January
2020
December
November
October
September
August
March
February
January
2019
December
November
October
September
August
June
April
March
February
January
2018
December
November
October
September
June
April
March
February
January
2017
December
November
October
September
June
April
February
January
2016
December
November
October
September
August
July
May
April
February
January
2015
December
November
October
September
August
July
April
March
February
January
2014
December
November
October
September
August
July
June
May
April
March
February
January
2013
December
November
October
September
August
July
June
April
March
February
January
2012
December
November
October
September
August
July
May
April
March
February
January
2011
December
November
October
September
August
July
June
May
April
March
February
January
2010
December
November
October
September
August
July
June
May
April
March
February
January
2009
December
November
October
September
August
July
June
April
March
February
January
2008
December
November
October
September
August
July
June
May
April
March
February
January
2007
December
November
October
September
August
July
June
May
April
March
February
January
2006
December
November
October
September
August
July
June
May
April
March
February
January
2005
December
November
October
September
August
July
June
May
April
March
February
January
2004
December
November
October
September
August
July
June
May
April
March
February
January
2003
December
November
October
September
August
July
June
May
April
March
February
January
2002
December
November
October
September
August
July
June
May
April
March
February
January
2002-01-18 (96)
2002-01-04 (103)
2001
December
November
October
September
August
July
June
May
April
2001-04-27 (74)
2001-04-13 (106)
March
February
January
2000
December
November
October
September
August
July
June
May
April
March
February
January
1999
December
November
October
September
August
July
June
May
April
March
February
January
1999-01-22 (134)
1999-01-08 (89)
1998
December
November
1998-11-27 (72)
1998-11-13 (106)
October
September
August
July
June
May
1998-05-29 (105)
1998-05-15 (62)
1998-05-01 (49)
April
March
February
January
1997
December
November
October
September
1997-09-19 (63)
1997-09-05 (185)
August
July
June
1997-06-27 (53)
1997-06-13 (181)
May
April
March
February
January
1996
December
November
October
September
August
July
June
May
April
March
February
January
1995
December
November
October
September
August
July
June
May
April
March
February
January
1994
December
November
October
September
August
July
June
May
April
March
February
January
1993
December
November
October
September
August
July
June
May
April