Income Tax Severed Letters - 2017-10-04


2017 Ruling 2016-0676001R3 - Structured Settlement

Unedited CRA Tags

Principal Issues: Will the payments to be received pursuant to the structured settlement be taxable in the claimant's hands in the circumstances described?

Position: No.

Reasons: The terms of the structured settlement are consistent with the CRA's position as set out in paragraph 5 of IT-365R2.

Ministerial Correspondence

16 August 2017 Ministerial Correspondence 2017-0712781M4 - Question on subsection 248(1)

Unedited CRA Tags
91(3) Constitution Act, 1867; 248(1) ITA

Principal Issues: Under what authority is subsection 248(1) based?

Position: See response

2 August 2017 Ministerial Correspondence 2017-0708891M4 - Deductibility of foreign online advertising

Unedited CRA Tags
19; 19.01 & 19.1

Principal Issues: Is foreign online advertising deductible?

Position: Generally, foreign online advertising is deductible.

Reasons: See below.

Technical Interpretation - External

27 June 2017 External T.I. 2017-0708951E5 F - TSFA - Conditions

Unedited CRA Tags
146.2(1), 146.2(1)
(apparently permitted) covenant in TFSA declaration requiring asset minimum to support loan to holder
negative covenant in favour of lender to TFSA holder permitted

Principales Questions: Whether a TFSA can have restrictions such as a minimum amount that needs to be kept in the account in order to ensure that the amount owed by the TFSA holder as a result of a loan to make a contribution is paid?

Position Adoptée: General comments provided about the conditions that must be met for an arrangement to be a "qualified arrangement" pursuant to subsections 146.2(1) and (2).

Raisons: Legislation.