2024-12-04 |
19 January 2024 External T.I. 2020-0865921E5 F - Foreign Currency dispositions by an individual |
Income Tax Act - Section 39 - Subsection 39(1.1) |
foreign currency dispositions under s. 39(1.1) include FX bank deposit conversions |
2024-11-06 |
2022 Ruling 2022-0929431R3 F - Entity classification |
Income Tax Act - Section 248 - Subsection 248(1) - Corporation |
a French société civile de placement immobilier (SCPI) is a corporation |
2024-11-06 |
2022 Ruling 2022-0929431R3 F - Entity classification |
Income Tax Act - Section 96 |
French SCPI is a corporation rather than partnership |
2024-10-30 |
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 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 |
2024-10-30 |
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 |
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 |
2024-10-30 |
2023 Ruling 2023-0986521R3 F - 104(4) and Pipeline |
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 |
2024-10-02 |
2023 Ruling 2022-0957491R3 F - Butterfly Reorganization |
Income Tax Act - Section 55 - Subsection 55(1) - Distribution |
butterfly to 2 new Holdcos of the 2 children beneficiaries of estate following the implementation by the estate of a pipeline transaction |
2024-10-02 |
2023 Ruling 2023-0998411R3 F - Butterfly Reorganization |
Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(b) |
occurrence of 1st year ends of butterfly transferee corporations due to implementation delay caused a Pt. IV tax circularity issue |
2024-07-03 |
21 December 2022 Internal T.I. 2019-0826411I7 - Classification of a Burkina Faso SARL |
Income Tax Act - Section 248 - Subsection 248(1) - Corporation |
a Burkina Faso S.A.R.L. is a corporation rather than partnership |
2024-07-03 |
21 December 2022 Internal T.I. 2019-0826411I7 - Classification of a Burkina Faso SARL |
Income Tax Act - Section 96 |
a Burkina Faso S.A.R.L. is more akin to a Canadian corporation than partnership |
2024-06-26 |
2024 Ruling 2023-0994301R3 F - Loss consolidation arrangement |
Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(a) |
loss-shifting transactions beneath a non-wholly owning Canadian LP |
2024-06-12 |
2024 Ruling 2023-0989121R3 F - Internal reorganization - 55(3)(a) and 55(3.01)(g) |
Income Tax Act - Section 55 - Subsection 55(3.01) - Paragraph 55(3.01)(g) |
transfer of real estate to separate Realtyco beneath a newly-formed Holdco |
2024-06-12 |
2024 Ruling 2023-0989121R3 F - Internal reorganization - 55(3)(a) and 55(3.01)(g) |
Income Tax Act - Section 75 - Subsection 75(2) |
2 unrelated individuals were the settlors for each other’s family trust |
2024-06-12 |
2024 Ruling 2023-0989121R3 F - Internal reorganization - 55(3)(a) and 55(3.01)(g) |
Income Tax Act - Section 248 - Subsection 248(10) |
estate freeze transactions represented to be independent of subsequent transfer |
2024-06-12 |
2024 Ruling 2023-0989121R3 F - Internal reorganization - 55(3)(a) and 55(3.01)(g) |
Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) - Subparagraph 55(3)(a)(ii) |
s. 55(3.01)(g) applied to the transfer (fresh after an estate freeze) by unrelated shareholders of Opco to a new Holdco, with an Opco realty spin-off to a new Realtyco sister |
2024-06-12 |
16 April 2024 Internal T.I. 2023-0998991I7 F - Qualification fiscale de certaines sommes |
Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(n) |
amount per week of training in short-term program leading to a skills training certificate was a bursary/ amount paid upon graduation was a bursary or a prize |
2024-06-05 |
4 April 2024 External T.I. 2023-0996201E5 - Employment income to sole shareholder |
Other Legislation/Constitution - Federal - Indian Act - Section 87 |
the salary of a status Indian from his corporation may be exempted based on the relative sourcing of its income on and off reserve |
2024-05-29 |
14 March 2024 External T.I. 2015-0596761E5 F - Traitement fiscal |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Improvements v. Repairs or Running Expense |
expenditure on anti-theft marking of car likely would be on current account |
2024-05-29 |
14 March 2024 External T.I. 2015-0596761E5 F - Traitement fiscal |
Income Tax Act - Section 18 - Subsection 18(9) |
practice is not to apply s. 18(9) where the adjustments would be minimal |
2024-05-29 |
14 March 2024 External T.I. 2015-0596761E5 F - Traitement fiscal |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(k) - A - Subparagraph A(iv) |
mandatory requirement for employee notification to employer by end of year |
2024-04-24 |
7 October 2021 Roundtable, 2021-0908201C6 F - Vente d'un bien détenu en copropriété par indivisi |
Income Tax Act - Section 74.2 - Subsection 74.2(1) |
imputation of an inter-spousal gift or loan on spouses’ property purchase (based on how the sales proceeds were agreed to be shared) engaged s. 74.2(1) |
2024-04-03 |
26 February 2024 External T.I. 2019-0813441E5 F - Frais de scolarité pour un cours par correspondance |
Income Tax Act - Section 118.5 - Subsection 118.5(1) - Paragraph 118.5(1)(a) |
shipping and handling charges for correspondence-course books included in tuition |
2024-04-03 |
23 February 2024 External T.I. 2020-0852621E5 F - Pompier volontaire |
Income Tax Act - Section 118.06 - Subsection 118.06(1) |
CRA position on “volunteer firefighter” remained in force following Bourgeois |
2024-03-20 |
18 February 2021 Internal T.I. 2014-0554901I7 F - Bourses d’études |
Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(n) |
treatment of assistance received from the Ministry for the Master's program in advanced pharmacotherapy |
2024-03-13 |
21 December 2023 External T.I. 2019-0822121E5 F - Transfer of life insurance policy from a trust to its corporate beneficiary |
|
|
2024-02-14 |
26 June 2020 External T.I. 2017-0688121E5 F - Déductibilité des intérêts et pénalités imposées sur les taxes foncières |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose |
interest on municipal taxes incurred as a business expense is deductible |
2024-02-14 |
26 June 2020 External T.I. 2017-0688121E5 F - Déductibilité des intérêts et pénalités imposées sur les taxes foncières |
Income Tax Act - Section 67.6 |
tardiness “penalty” added by municipality to unpaid property taxes came within s. 67.6 |
2024-02-14 |
26 June 2020 External T.I. 2017-0688121E5 F - Déductibilité des intérêts et pénalités imposées sur les taxes foncières |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Financing Expenditures |
interest paid on property taxes incurred as a business expense is itself deductible |
2024-02-14 |
29 November 2023 External T.I. 2019-0812661E5 F - Allocation pour usage d’un véhicule à moteur |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) - Subparagraph 6(1)(b)(x) |
a carpooling arrangement is inherently unreasonable under s. 6(1)(b)(x) |
2024-02-14 |
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 1, 2023-0976911C6 F - CELIAPP - Changement d'usage / FHSA - Change in use |
Income Tax Act - Section 146.6 - Subsection 146.6(1) - Qualifying Withdrawal - Paragraph (d) |
a recent change of a home from rental to principal-residence use cannot ground an FHSA withdrawal |
2024-02-14 |
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 3, 2023-0976921C6 F - CELIAPP - Acquisition d'une quote-part d'une habitation admissible / FHSA - Acquisition of a share of a qualifying home |
Income Tax Act - Section 146.6 - Subsection 146.6(1) - Qualifying Withdrawal |
a qualifying withdrawal from an FHSA can fund the purchase of a co-ownership interest in a qualifying home |
2024-02-14 |
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 3, 2023-0976921C6 F - CELIAPP - Acquisition d'une quote-part d'une habitation admissible / FHSA - Acquisition of a share of a qualifying home |
General Concepts - Ownership |
reference to acquiring a qualifying home includes acquiring a co-ownership interest |
2024-02-14 |
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 4, 2023-0990531C6 F - Life insurance policy transfer |
Income Tax Act - Section 148 - Subsection 148(7) |
a trust distribution of a life insurance policy to a beneficiary was made for FMV consideration equal to the part of the beneficiary’s capital or income interest that is satisfied |
2024-02-14 |
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 4, 2023-0990531C6 F - Life insurance policy transfer |
Income Tax Act - 101-110 - Section 107 - Subsection 107(2) |
s. 107(2) inapplicable to distribution in satisfaction of a trust debt owing to the beneficiary |
2024-02-14 |
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 4, 2023-0990531C6 F - Life insurance policy transfer |
Income Tax Act - 101-110 - Section 106 - Subsection 106(3) |
s. 106(3) could apply to a distribution of a dividend in kind |
2024-02-14 |
2 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 5, 2023-0978561C6 F - Partnership – distribution of a life insurance police |
Income Tax Act - Section 148 - Subsection 148(7) |
s. 98(2) generally prevails over s. 148(7) |
2024-02-14 |
2 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 5, 2023-0978561C6 F - Partnership – distribution of a life insurance police |
Income Tax Act - Section 248 - Subsection 248(35) |
holding of policy by partnership prior to its distribution to partner does not count towards the latter’s holding period |
2024-02-14 |
2 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 5, 2023-0978561C6 F - Partnership – distribution of a life insurance police |
Income Tax Act - Section 98 - Subsection 98(2) |
disposition of distributed life insurance policy at FMV pursuant to s. 98(2), rather than s. 148(7) applying |
2024-02-14 |
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 6, 2023-0994241C6 F - Consequences of Transfer of DSUs to a corporation |
Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangement |
transfer of DSU to corporation would cause it to cease to qualify, perhaps retroactively |