Translations of recent severed letters

Bundle Date Translated severed letter Summaries under Summary descriptor
1999-08-06 30 June 1999 Internal T.I. 9911197 F - ABANDON D'UN CAAF BSF CHICOUTIMI Income Tax Act - Section 248 - Subsection 248(1) - Disposition extinguishment of timber permit on the sale of a business constituted its disposition
Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) sale price received as inducement to surrender a timber permit would be income under s. 12(1)(x), if not proceeds of a timber resource property
Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(b) must be a person to whom the disposition was made
1999-07-23 15 July 1999 External T.I. 9819025 F - SOCIETES ASSOCIEES Income Tax Act - Section 256 - Subsection 256(1.2) - Paragraph 256(1.2)(d) a corporation deemed by s. 256(1.2)(d) to be owned 51% and 49% by 2 individuals was associated with a corporation each owned directly by them as to 42% each
Income Tax Act - Section 256 - Subsection 256(1.2) - Paragraph 256(1.2)(b) - Subparagraph 256(1.2)(b)(ii) two individuals deemed to own 51% and 49% of a CCPC’s shares were a controlling group under s. 256(1.2)(c) notwithstanding control by one individual alone
7 July 1999 External T.I. 9828165 F - TRANSFERT DE BIENS À UNE SOCIÉTÉ Income Tax Act - Section 74.4 - Subsection 74.4(2) taking back non-cumulative preferred shares may be indicative of a targeted main purpose
13 July 1999 External T.I. 9901535 F - PERTE EN CAPITAL - REPUTE NULLE Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(g) - Subparagraph 40(2)(g)(ii) s. 40(2)(g)(ii) not satisfied on non-interest-bearing loan made to a sister corp
15 July 1999 External T.I. 9911175 F - EMPLOYÉ - ACTIONNAIRE UNIQUE -207.6(2) Income Tax Act - Section 207.6 - Subsection 207.6(2) an employee being the sole shareholder of the employer is insufficient to render s. 207.6(2) inapplicable
30 June 1999 External T.I. 9911555 F - CR POUR ACTIONNAIRE-DIRIGEANT Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangement foregoing by a shareholder-officer of significant salary in exchange for an RCA contribution, may be an SDA
15 July 1999 External T.I. 9916165 F - RAP - VENTE DE LA PROPRIÉTÉ ACQUISE Income Tax Act - Section 146.01 - Subsection 146.01(3) no requirement to repay the RRSP or include the HBP balance in income when the qualifying home has been sold
1999-07-09 31 March 1999 External T.I. 9903655 F - CCA IMPRIMANTE LASER Income Tax Regulations - Schedules - Schedule II - Class 10 - Paragraph 10(f) laser printer could fall in para. 10(f)
9 June 1999 External T.I. 9828345 F - 2ND ACQUISITION OF LOAN BY NRO Income Tax Act - Section 133 - Subsection 133(8) - Non-Resident-Owned Investment Corporation - Paragraph (d) purchase of loan from the bank was not the making of a loan
24 June 1999 External T.I. 9830665 F - DIVIDENDE EN ACTIONS PRIV ET PAR BILLET Income Tax Act - Section 248 - Subsection 248(28) double taxation of s. 55(2) gain on dividend in kind avoided by excluding gain on subsequent sale of the dividended property
Income Tax Act - Section 52 - Subsection 52(1) cost of note increased only by the taxable capital gain recognized under s. 55(2) in respect of its issuance as a dividend in kind
Income Tax Act - Section 52 - Subsection 52(3) - Paragraph 52(3)(a.1) nil cost of preferred shares issued on dividend in kind by virtue of s. 52(3)(a.1) since deemed not to be a dividend by s. 55(2)
28 June 1999 External T.I. 9912585 F - ALLOCATION DE RETRAITE Income Tax Act - Section 248 - Subsection 248(1) - Retiring Allowance whether transfer between two companies entails termination of employment turns on whether they are affiliated/ ordinary meaning of affiliated
30 June 1999 External T.I. 9912605 F - APPLICATION DE 56(11) À L'EMPLOYEUR Income Tax Act - Section 56 - Subsection 56(11) the recipient of the amount subject to s. 56(11) need not have held the employment, so that it could apply to an employer
1999-06-25 16 June 1999 Internal T.I. 9820677 F - DÉFINITION DU MOT STRUCTURE Income Tax Regulations - Schedules - Schedule II - Class 1 - Paragraph 1(q) dyke qualified as a structure
16 June 1999 External T.I. 9824635 F - TRANSFERT DE BIEN À UNE SOCIÉTÉ Income Tax Act - Section 74.4 - Subsection 74.4(2) main purpose test can encompass an unborn child or a future spouse
23 June 1999 Internal T.I. 9824657 F - ACDI - AIDE PROD. CINÉMATOGRAPHIQUE Income Tax Act - Section 125.4 - Subsection 125.4(3) amounts received from CIDA bifurcated between investment in production, and government assistance
21 June 1999 External T.I. 9829395 F - PRODUIT POLICE ASSURANCE INVALIDITE Income Tax Act - Section 70 - Subsection 70(5.3) no equivalent of s. 70(5.3) for disability proceeds
17 June 1999 Internal T.I. 9830837 F - PENSION ALLIMENTAIRE Income Tax Act - Section 56.1 - Subsection 56.1(4) - Commencement Day when payments, following a new temporary order, reverted back to being made in accordance with the older order, the new rules ceased to apply
28 May 1999 Internal T.I. 9830907 F - DGC - VENTE DE PIERRE Income Tax Act - Section 110.6 - Subsection 110.6(1) - Qualified Farm or Fishing Property farm quarry stone did not qualify as having been used in the farming business
Income Tax Regulations - Regulation 600 no late election under s. 110.6(19)
Income Tax Act - Section 248 - Subsection 248(1) - Property farm quarry stone qualified as immovable property
23 June 1999 External T.I. 9830985 F - USUFRUIT VS FIDUCIE AU CONJOINT AVANT 72 Income Tax Act - Section 248 - Subsection 248(3) distinction between usufructs and testamentary trusts under previous version
Income Tax Act - Section 108 - Subsection 108(1) - Pre-1972 Spousal Trust encroachment on the capital that occurred when spouse remarried disqualified the trust from being a "pre-1972 spousal trust"
21 June 1999 Income Tax Severed Letter 9833666 F - ENTENTES DE COMMANDITE - FILM Income Tax Act - Section 125.4 - Subsection 125.4(1) - Assistance amounts received under sponsorship agreements with government departments qualified as the referenced ss. 12(1)(x)(iii) or (iv) amounts
Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) amounts would be described in s. 12(1)(x) even if accounted for by recipient as s. 9 income
15 June 1999 External T.I. 9902745 F - COOPÉRATIVE DE TRAVAILLEURS Income Tax Act - Section 136 - Subsection 136(2) workers’ cooperative qualifies as a cooperative corporation
Income Tax Act - Section 15 - Subsection 15(2.4) - Paragraph 15(2.4)(c) exception in paragraph 15(2.4)(c) could apply to a loan made to acquire shares (units) of a cooperative
23 June 1999 Internal T.I. 9909067 F - GAIN SUR RÈGLEMENT DE DETTE - DATE Income Tax Act - Section 80 - Subsection 80(1) - Forgiven Amount - Element B - Paragraph B(a) no settlement of debt if partial repayment without novation
21 June 1999 External T.I. 9909465 F - CATÉGORIE 6 Income Tax Regulations - Schedules - Schedule II - Class 6 - Paragraph (a) - Subparagraph (a)(vii) “footings” has its construction-industry meaning
18 June 1999 Internal T.I. 9910827 F - ABANDON D'UN CAAF Income Tax Act - Section 248 - Subsection 248(1) - Disposition payment to induce the surrender of Quebec Timber Supply and Forest Management Agreement and related annual permits constituted proceeds of disposition
Income Tax Act - Section 13 - Subsection 13(21) - Timber Resource Property - Paragraph (a) - Subparagraph (a)(ii) Quebec Timber Supply and Forest Management Agreement and related annual permits constituted a timber resource property
23 June 1999 External T.I. 9915485 F - FRAIS RELIÉS À UN PLACEMENT - REER Income Tax Act - Section 146 - Subsection 146(8) RRSP can incur expenses to protect its investments as would a prudent investor
16 June 1999 External T.I. 9916555 F - REEE - CONTENU ÉTRANGER Income Tax Act - Section 206 RESP could hold foreign property
1999-06-11 22 February 1999 Internal T.I. 9819507 F - PAIEMENT - FERMETURE D'UNE VILLE Income Tax Act - Section 62 - Subsection 62(3) compensation received by residential tenants to cover their moving costs would be non-taxable but reduce their moving expenses on general principles
Income Tax Act - Section 9 - Expense Reimbursement reimbursement of moving expenses reduced those expenses
Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(k) compensation for moving a residence offset the increased ACB for the moving expense

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