Translations of recent severed letters

Bundle Date Translated severed letter Summaries under Summary descriptor
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
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
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
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
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
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
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
Income Tax Act - Section 75 - Subsection 75(2) 2 unrelated individuals were the settlors for each other’s family trust
Income Tax Act - Section 248 - Subsection 248(10) estate freeze transactions represented to be independent of subsequent transfer
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
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
Income Tax Act - Section 18 - Subsection 18(9) practice is not to apply s. 18(9) where the adjustments would be minimal
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
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
Income Tax Act - Section 67.6 tardiness “penalty” added by municipality to unpaid property taxes came within s. 67.6
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
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)
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
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
General Concepts - Ownership reference to acquiring a qualifying home includes acquiring a co-ownership interest
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
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
Income Tax Act - 101-110 - Section 106 - Subsection 106(3) s. 106(3) could apply to a distribution of a dividend in kind
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)
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
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
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

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