Income Tax Severed Letters - 2024-11-13

Ruling

2023 Ruling 2023-0980101R3 - Post-mortem pipeline

Unedited CRA Tags
84(2), 84.1, 245(2)

Principal Issues: Whether section 84.1 or subsection 84(2) apply to the proposed post-mortem pipeline.

Position: No.

Reasons: In accordance with the Act and our published positions.

Technical Interpretation - External

15 August 2024 External T.I. 2024-1031811E5 - ACB of partnership interest - 53(1)(e)(vi)

Unedited CRA Tags
40(3.1), 53(1)(e)(vi).
Summary Under
Tax Topics - Income Tax Act - Section 53 - Subsection 53(1) - Paragraph 53(1)(e) - Subparagraph 53(1)(e)(vi)
the ACB increase under s. 53(1)(e)(vi) for a negative ACB gain does not occur until immediately after rather than at the partnership year end

Principal Issues: In computing the ACB to a taxpayer of a partnership interest, whether subparagraph 53(1)(e)(vi) is applicable at the end of the fiscal period of a partnership or after the end of the fiscal period of a partnership.

Position: After the end of the fiscal period of a partnership.

Reasons: Wording of 40(3.1) and 53(1)(e)(vi).

24 July 2024 External T.I. 2023-1000141E5 - Guideline 4 of the Indian Act Guidelines

Unedited CRA Tags
81(1)(a), 87(1)(a) of the Indian Act

Principal Issues: Will Guideline 4 apply to the employees who live off-reserve and who work off-reserve when the employer's head office moves off-reserve?

Position: Likely Yes.

Reasons: Based on the information provided, the Employer appears to be resident on a reserve, controlled by First Nations that have reserves, and dedicated to the social, cultural and economic benefit of First Nations individuals who for the most part live on a reserve.