Translations of recent severed letters

Bundle Date Translated severed letter Summaries under Summary descriptor
2001-12-07 30 November 2001 External T.I. 2001-0100125 F - Traitement fiscal fiducies-sûreté Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(c) a disposition on the transfer of Canada bonds by a non-resident to a security trust signified that interest distributions by the trust were subject to withholding under s. 212(1)(c)
6 December 2001 External T.I. 2001-0101505 F - Impôt des non-résidents sur Unités de Fiducie Income Tax Act - Section 227 - Subsection 227(6) overview of procedure for applying for refund of over-withholding
17 December 2001 External T.I. 2001-0101675 F - T5008 NON-RESIDENT Income Tax Regulations - Regulation 230 - Subsection 230(6) requirement to prepare Reg. 230(6) return may apply to a non-resident
10 December 2001 External T.I. 2001-0109195 F - Test d'objet à 55(2) Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) s. 55(3)(a) applicable to creditor-proofing transactions
11 December 2001 Internal T.I. 2001-0109357 F - DEBENTURES CONVERTIBLES Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(f) no s. 20(1)(f) deduction for the FMV of shares issued on debenture conversion since conversion price is equal to the face value of debenture
18 December 2001 External T.I. 2001-0110315 F - ACTIONS SEPE PLACEMENTS ADMISSIBLES Income Tax Regulations - Regulation 4901 - Subsection 4901(2) - Connected Shareholder overview of connected person and exempt person definitions
18 December 2001 External T.I. 2001-0114435 F - Capacité de gain - Earn Out Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(g) it must be possible to compute all the payments within the 5-year period
19 December 2001 External T.I. 2001-0115095 F - DISPOSITION D'UNE ASSURANCE-VIE Income Tax Act - Section 148 - Subsection 148(1) application to maturity (other than on death) of pre-1982 policy
2001-11-23 6 November 2001 External T.I. 2000-0029615 F - revenu protégé en main Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) safe income shortly before a stub year end reduced by s. 111(5.1) write-down at the end of that stub year
15 November 2001 External T.I. 2001-0088285 F - deferral of gain on involuntary dispositions Income Tax Act - Section 44 - Subsection 44(1) s. 44(1) rollover might be saved where the insurance proceeds for the 1st replaced building are not deemed as received until after receipt of insurance proceeds for the 2nd replaced building
21 November 2001 Internal T.I. 2001-0094527 F - PERTE REPUTEE NULLE-BRYAN Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(g) - Subparagraph 40(2)(g)(ii) Byram now followed re loss on non-interest-bearing shareholder loan to corporation
Income Tax Act - Section 50 - Subsection 50(1) - Paragraph 50(1)(a) no partial bad debt recognition under s. 50(1)(a)
Income Tax Act - Section 248 - Subsection 248(27) s. 248(27) does not permit partial debt write-off under s. 50(1)(a)
Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(c) - Subparagraph 39(1)(c)(ii) settlement of corporate debt under a bankruptcy proposal did not entail disposition of the debt to the corporation
Income Tax Act - Section 251 - Subsection 251(2) - Paragraph 251(2)(b) - Subparagraph 251(2)(b)(i) shareholder continued to control “his” corporation while it was being administered by a bankruptcy trustee pending approval of a proposal
Income Tax Act - Section 116 - Subsection 116(5) settlement under bankruptcy proposal of debt did not entail a disposition of that debt to the corporation
16 November 2001 Internal T.I. 2001-0095617 F - ACCORD ECRIT RETROACTIF GARDE D'ENFANTS Income Tax Act - Section 118 - Subsection 118(5) subsequent letter was not an agreement eliminating a support obligation in respect of one of the two children
Income Tax Act - Section 56.1 - Subsection 56.1(4) - Support Amount “agreement” must correspond “to the reality of a situation of shared financial and parental responsibilities and … [be] a valid contract … creating mutual obligations”
28 November 2001 External T.I. 2001-0104285 F - PRESTATION CONSECUTIVE AU DECES Income Tax Act - Section 248 - Subsection 248(1) - Death Benefit death benefit paid to widow is not income
Income Tax Act - Section 3 - Paragraph 3(a) lump sum death benefit paid by employer to widow of deceased employee, not income
6 November 2001 External T.I. 2001-0105945 F - INTERETS LUDCO SINGLETON Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) - Subparagraph 20(1)(c)(i) scope of study on impact of Ludco and Singleton
7 December 2001 External T.I. 2001-0107765 F - RPA-ALLOCATION DE RETRAITE Income Tax Act - Section 60 - Paragraph 60(j.1) - Subparagraph 60(j.1)(iii) - Clause 60(j.1)(iii)(A) amount deductible under s. 8(1)(m) cannot be included in the amount deducted under s. 60(j.1)(iii)(A),
6 December 2001 External T.I. 2001-0113375 F - PLACEMENT REER NASDAQ Income Tax Regulations - Regulation 4900 - Subsection 4900(1) - Paragraph 4900(1)(s) no deemed acquisition if pink-sheet stock is held after December 31, 2001, but tax on FMV at actual acquisition time applies
2001-11-09 21 November 2001 External T.I. 2000-0062895 F - BOURSE D'ETUDES OU REVENU D'EMPLOI Income Tax Act - Section 5 - Subsection 5(1) “scholarships” that had to be repaid if the student did not then work for the employer were received qua employee – but could be non-taxable as primarily for employer’s benefit
9 November 2001 External T.I. 2001-0101685 F - APPLICATION DE 16.1 ET DE 85(1) Income Tax Act - Section 85 - Subsection 85(1) a property for which an s. 16.1(1) election has been made cannot be transferred on a rollover basis under s. 85(1)
Income Tax Act - Section 16.1 - Subsection 16.1(1) - Paragraph 16.1(1)(f) s. 16.1(1)(f) does not accommodate an s. 85(1) disposition to a corporation
21 November 2001 External T.I. 2001-0104785 F - CONTRIBUTION A UN RPA SERVICES PASSES Income Tax Act - Section 147.2 - Subsection 147.2(4) - Paragraph 147.2(4)(c) counts as a service year even if only one day of services
2001-10-26 29 October 2001 External T.I. 2000-005230A F - INDEMNITE DE TEMPS DE TRANSPORT Income Tax Act - Section 6 - Subsection 6(6) - Paragraph 6(6)(b) s. 6(6)(b) exception does not apply to compensation for travel time
30 October 2001 External T.I. 2000-0052765 F - CAISSE D'ENTRAIDE DE DIOCESE Income Tax Act - Section 248 - Subsection 248(1) - Superannuation or Pension Benefit amounts voluntarily paid to improve the retirement income of priests who did not have 35 years of service was pension income to them
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) reimbursements of priests’ dental expenses out of gift fund, and one-off gifts, were not taxable benefits
16 November 2001 External T.I. 2000-0054435 F - BIENS AGRICOLES ADMISSIBLES Income Tax Act - Section 110.6 - Subsection 110.6(1) - Interest in a Family Farm or Fishing Partnership - Paragraph (a) ownership of the farm operating corporation by the partnership meant that the partnership interests were not qualified farm property
6 November 2001 External T.I. 2001-0072335 F - CII-LOCATION Income Tax Act - Section 127 - Subsection 127(9) - Qualified Property - Paragraph (d) lessor can qualify for ITC even if lease is assigned to finance company immediately after the lease
29 October 2001 External T.I. 2001-0075565 F - FRAIS DE SEJOUR ET ALLOCATIONS POUR REPAS Income Tax Act - Section 6 - Subsection 6(6) - Paragraph 6(6)(a) meaning of “temporary nature” and distance test
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) meal allowance paid to employees working at least 3 hours of overtime, on an infrequent basis, may be non-taxable
14 November 2001 External T.I. 2001-0086765 F - FRAIS DE REPRESENTATION-EXCEPTION Income Tax Act - Section 67.1 - Subsection 67.1(2) - Paragraph 67.1(2)(c) s. 67.1(2)(c) exception is not precluded where the specific reimburser is a non-resident
8 November 2001 External T.I. 2001-0096435 F - Sous-alinéa 75(2)(a)(i) de la Loi Income Tax Act - Section 75 - Subsection 75(2) - Paragraph 75(2)(a) - Subparagraph 75(2)(a)(i) s. 75(2) does not apply by virtue of the trust property reverting to the settlor by operation of law
16 November 2001 Internal T.I. 2001-0097587 F - COPRODUCTION-DROIT D'AUTEUR Income Tax Regulations - Regulation 1106 - Subsection 1106(12) description of ruling letter regarding licensing of copyright by qualified corporation to UK co-producer and licence back
Income Tax Act - Section 248 - Subsection 248(1) - Disposition licence to UK co-producer of rights, as copyright co-owner, to exploit its co-ownership rights outside Canada but with the licence back of those rights by the UK partnership licensee of the UK co-producer, did not constitute a copyright disposition
16 November 2001 Internal T.I. 2001-0099927 F - INTERETS PAYES SUR PRET POUR ORDINATEUR Income Tax Act - Section 118.62 interest on loan for the purchase of a microcomputer obtained under the loan guarantee program of the Aide financière aux études did not qualify
8 November 2001 External T.I. 2001-0103375 F - Décès du rentier Income Tax Act - Section 70 - Subsection 70(3) s.60(l)(ii)(B) annuity amounts, or entitlements thereto as trust income beneficiary, were rights and things

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