2016-12-14 |
6 February 2015 Internal T.I. 2015-0566681I7 F - Redevances perçues d'avance |
Income Tax Act - Section 9 - Timing |
lump sum irrevocable prepayment of contingent future royalties fully included |
2016-12-14 |
6 February 2015 Internal T.I. 2015-0566681I7 F - Redevances perçues d'avance |
Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(a) |
irrevocable royalty prepayment under s. 12(1)(a) or 9 |
2016-12-07 |
18 October 2016 External T.I. 2015-0608051E5 F - Emigration of a trust |
Income Tax Act - Section 220 - Subsection 220(4.5) |
emigrating trust can elect to defer payment of the exit tax |
2016-12-07 |
18 October 2016 External T.I. 2015-0608051E5 F - Emigration of a trust |
Income Tax Act - Section 2 - Subsection 2(1) |
Fundy Settlement test may differ from residence of trustees |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 1A, 2016-0652951C6 F - Penalty late filed election-subsection 85(8) |
Income Tax Act - Section 85 - Subsection 85(8) |
penalty calculated on a global basis |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 1B, 2016-0652761C6 F - T4A filing |
Income Tax Regulations - Regulation 200 - Subsection 200(1) |
no expanded relief from the broad T4A reporting requirements |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 1B, 2016-0652761C6 F - T4A filing |
Income Tax Act - Section 153 - Subsection 153(1) - Paragraph 153(1)(g) |
limited exceptions to T4A reporting |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 1C, 2016-0652771C6 F - T106 and multiple year ends |
Income Tax Act - Section 231.1 - Subsection 233.1(2) |
acquisition of control generally will not generate additional T106 filings |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 2, 2016-0652841C6 F - Changement partiel d’usage - immeuble locatif et résidentiel |
Income Tax Act - Section 45 - Subsection 45(1) - Paragraph 45(1)(c) |
switch between which triplex units used for personal/ family rental or 3rd-party rental did not trigger change of use |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 2, 2016-0652841C6 F - Changement partiel d’usage - immeuble locatif et résidentiel |
Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(b) |
on sale of triplex, individual can claim exemption only for years in which particular units were used personally or by children |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 2, 2016-0652841C6 F - Changement partiel d’usage - immeuble locatif et résidentiel |
Income Tax Act - Section 54 - Principal Residence |
triplex contained separate housing units |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 3, 2016-0652851C6 F - Annulation d'une promesse d'achat sur une maison |
Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(b) |
damages for breach of covenant to purchase principal residence not covered |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 3, 2016-0652851C6 F - Annulation d'une promesse d'achat sur une maison |
Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(b) |
no capital loss for damages paid for breach of purchase obligation |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 4, 2016-0652801C6 F - Salary Deferral Arrangement |
Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangement - Paragraph (k) |
no backdating as of the year end |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 5, 2016-0652861C6 F - Véhicules électriques - rabais |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(e) |
use of manufacturer’s electricity-use standard |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 5, 2016-0652861C6 F - Véhicules électriques - rabais |
Income Tax Act - Section 13 - Subsection 13(21) - Undepreciated Capital Cost - A |
installation cost included |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 5, 2016-0652861C6 F - Véhicules électriques - rabais |
Income Tax Act - Section 6 - Subsection 6(2) |
Quebec government assistance does not reduce cost of purchased vehicle, but treated as compensation to dealer-lessor prorated over term of lease |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 5, 2016-0652861C6 F - Véhicules électriques - rabais |
Income Tax Act - Section 13 - Subsection 13(7) - Paragraph 13(7)(g) |
vehicle assistance paid indirectly (to dealer) covered |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 5, 2016-0652861C6 F - Véhicules électriques - rabais |
Income Tax Act - Section 13 - Subsection 13(21) - Undepreciated Capital Cost - A |
cost not reduced under general principles by government assistance |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 6, 2016-0652821C6 F - Graduated Rate Estate - Total Charitable Gifts |
|
|
2016-11-30 |
7 October 2016 APFF Roundtable Q. 7, 2016-0652971C6 F - Paragraph 251(5)(b) and subsection 256(1.4) |
Income Tax Act - Section 256 - Subsection 256(1.4) - Paragraph 256(1.4)(a) |
does not include right to find a 3rd party purchaser for another’s shares |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 7, 2016-0652971C6 F - Paragraph 251(5)(b) and subsection 256(1.4) |
Income Tax Act - Section 251 - Subsection 251(5) - Paragraph 251(5)(b) - Subparagraph 251(5)(b)(ii) |
may include right arising after triggering of event over which no control |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 7, 2016-0652971C6 F - Paragraph 251(5)(b) and subsection 256(1.4) |
Income Tax Act - Section 251 - Subsection 251(5) - Paragraph 251(5)(b) - Subparagraph 251(5)(b)(i) |
right to find 3rd party purchaser |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 9, 2016-0652921C6 F - Résidence - actif utilisé / Residence - asset used |
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Qualified Small Business Corporation Share |
farm house must be more than 50% used by farm employees to qualify |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 9, 2016-0652921C6 F - Résidence - actif utilisé / Residence - asset used |
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Share of the Capital Stock of a Family Farm or Fishing Corporation |
primary employee use qualifies farm house |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 10, 2016-0652931C6 F - Bien agricole admissible-saisine par succession |
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1.3) - Paragraph 110.6(1.3)(a) - Subparagraph 110.6(1.3)(a)(i) |
3 owners if farm passes from father to estate to son |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 10, 2016-0652931C6 F - Bien agricole admissible-saisine par succession |
General Concepts - Ownership |
estate owns its property |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 11, 2016-0652941C6 F - Contrat de location / Capital lease |
Income Tax Act - Section 248 - Subsection 248(1) - Small Business Corporation |
FMV of rights under a lease must be included |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 11, 2016-0652941C6 F - Contrat de location / Capital lease |
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Qualified Small Business Corporation Share |
stipulated rights of lessee should be valued for QSBCS purposes |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 12, 2016-0655911C6 F - Partial Leveraged Buy-Out and Monetization of ACB |
Income Tax Act - Section 84 - Subsection 84(2) |
amalgamation does not cause reorg etc. of business |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 13, 2016-0652981C6 F - Allocation of the safe income on hand |
Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) |
business income earned by a corporation following a subscription for a separate class of discretionary dividend shares could be allocated to those shares |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 14, 2016-0655921C6 F - Safe income on hand - Preferred shares |
Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) |
fixed dividends on full-ACB prefs did not come out of SIOH |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 14, 2016-0655921C6 F - Safe income on hand - Preferred shares |
Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(b) |
whether dividends paid on non-participating prefs engage s. 55(2) is a question of fact |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 15, 2016-0652991C6 F - Application of subsection 55(2) - holding period |
Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) |
stock dividend of nominal value discretionary shares to shift value to an affiliate |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 16, 2016-0653001C6 F - Safe income and freeze preferred shares |
Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) |
application of safe income on hand to dividends paid on estate freeze prefs |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 17, 2016-0652781C6 F - Functional currency and acquisition of control |
Income Tax Act - Section 111 - Subsection 111(4) - Paragraph 111(4)(e) |
FX gains or losses on pre-transition debts not affected |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 17, 2016-0652781C6 F - Functional currency and acquisition of control |
Income Tax Act - Section 261 - Subsection 261(9) - Paragraph 261(9)(a) |
exclusion of pre-transition debts from s. 111(4) |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 17, 2016-0652781C6 F - Functional currency and acquisition of control |
Income Tax Act - Section 40 - Subsection 40(10) |
exclusion of pre-transition debts |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 18, 2016-0652791C6 F - Taxable Canadian property and Part XIII tax |
Income Tax Act - Section 119 |
property must have been TCP continuously from the time of emigration |
2016-11-30 |
7 October 2016 APFF Roundtable Q. 19, 2016-0655841C6 F - Reimbursement of attributed income |
Income Tax Act - 101-110 - Section 103 - Subsection 103(1) |
no obligation to repay income reallocated to other partner |