Income Tax Severed Letters

This Week's Release

Technical Interpretation - External

30 April 2018 External T.I. 2017-0730991E5 - HBP purchase of portion of housing unit

Unedited CRA Tags
146.01(1) "regular eligible amount", 146.01(1) "qualifying home", 146.01(2)(a)

Principal Issues: 1. Does the acquisition of a partial interest in a home qualify for purposes of the Home Buyers’ Plan (“HBP”) under section 146.01? 2. Must the interest be registered on the title of the property? 3. What type of written agreement is required? 4. Does the purchase qualify to be exempt from the land transfer tax?

Position: 1. Yes. 2. No. The individual must establish that they obtained either legal ownership or beneficial ownership. 3. The individual must be able to provide sufficient documentation that demonstrates that there is an agreement in writing. 4. Unable to respond.

Reasons: 1. Paragraph 146.01(2)(a) contemplates joint ownership. 2. Jurisprudence. 3. An agreement in writing can take many forms. 4. Not CRA's area of responsibility.

9 April 2018 External T.I. 2017-0735431E5 - CEE for Discovery Wells

Principal Issues: Will the costs incurred for the completion of a discovery well qualify as CEE in a given situation?

Position: It depends on the particular facts.

Reasons: Amendments announced as part of Budget 2017.

Technical Interpretation - Internal

8 May 2018 Internal T.I. 2018-0754221I7 - disaster relief from charity

Unedited CRA Tags
9, 12(1)(x), 56(1)(r), 56(1)(u)

Principal Issues: Are amounts received from a charity as disaster relief included in income for an individual personally? Would disaster relief constitute social assistance? Are such amounts included in income when received by a business?

Position: Question of fact. Amounts received by individual for personal losses are generally not taxable. An amount received as disaster relief is usually not social assistance. Where disaster relief is received in the course of carrying on business, it is likely included in income under section 9 or paragraph 12(1)(x).

Reasons: Law

22 March 2018 Internal T.I. 2018-0738201I7 - Residency of TFSA trust

Unedited CRA Tags
ITA 146.2; 146; 146.1; 146.3
Summary Under
Tax Topics - Income Tax Act - Section 2 - Subsection 2(1)
all self-directed RRSPs and TFSAs are resident in Canada
Summary Under
Tax Topics - Income Tax Act - Section 146.2 - Subsection 146.2(6)
investment trading decisions by non-resdient holder did not make the TFSA trust a non-resident

Principal Issues: What is the residence of a TFSA trust?

Position: A TFSA trust will always be resident in Canada.

Reasons: A trust resides where its real business is carried on, which is where the central management and control of the trust actually takes place. In the case of a trust governed by a TFSA, RRSP, RRIF, RESP or RDSP, this will always be in Canada where the corporate trustee resides given the duties and obligations imposed on the trustee under the Act.

14 March 2018 Internal T.I. 2017-0733971I7 - CCA class of “wellsite trailers”

Unedited CRA Tags
Class 1(q), Class 6, Class 10(e) of the Regulations

Principal Issues: Appropriate capital cost allowance (“CCA”) classification of “wellsite trailers” under Schedule II of the Income Tax Regulations (the “Regulations”) under two specific scenarios. 1. The wellsite trailers are moved around frequently from site to site, i.e. at least 30 times a year; 2. The wellsite trailers are installed and remain at a particular site for a long period of time.

Position: 1. Class 10(e); 2. Class 6 or Class 1(q).

Reasons: 1. The wellsite trailers in this scenario are portable and are moved frequently and are therefore not buildings or structures, but instead fall within Class 10(e).
2. In the second scenario, the wellsite trailers are installed and remain at a particular site for a long period of time and would otherwise have the characteristics of a building. If the wellsite trailers are made of corrugated metal and have no footings or other base supports below ground level, they would fall within Class 6. If this is not the case, such wellsite trailers would fall within Class 1(q).

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