2014-01-15 |
11 October 2013 APFF Roundtable, 2013-0495671C6 F - Déduction d'une partie d'une créance irrécouvrable |
Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(p) - Subparagraph 20(1)(p)(i) |
20(1)(p)(i) deduction for trade debts of a customer are determined on a receivable by receivable basis |
2014-01-15 |
11 October 2013 APFF Roundtable, 2013-0495671C6 F - Déduction d'une partie d'une créance irrécouvrable |
Income Tax Act - Section 50 - Subsection 50(1) |
comparison of 20(1)(p)(i) and 50(1): latter requires full uncollectibility |
2014-01-08 |
10 December 2013 External T.I. 2013-0480771E5 F - Winding-Up of a Corporation |
Income Tax Act - Section 88 - Subsection 88(2) |
deemed year end under s. 88(2)(a)(iv) is only for surplus computation purposes |
2013-12-18 |
26 November 2013 External T.I. 2012-0449631E5 F - Amount deductible under paragraph 20(1)(e.2) |
Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e.2) |
reduction of deductible premium amount re pledged policy where net cost of pure insurance (“NCPI”) is lower than premiums |
2013-12-18 |
15 November 2013 Internal T.I. 2013-0478621I7 F - Transfer of intangibles - TP adjustments |
Income Tax Act - Section 247 - New - Subsection 247(2) |
group sale with Canco not charging for intangibles should engage s. 247(2) |
2013-12-18 |
15 November 2013 Internal T.I. 2013-0478621I7 F - Transfer of intangibles - TP adjustments |
Income Tax Act - Section 56 - Subsection 56(2) |
secondary adjustment re group sale with Canco not charging for intangibles |
2013-12-18 |
15 November 2013 Internal T.I. 2013-0478621I7 F - Transfer of intangibles - TP adjustments |
Income Tax Act - Section 69 - Subsection 69(4) |
s. 69(4) inapplicable where grandchild Canco undercharges for asset sale, enhancing sales proceeds received by ultimate U.S. parent |
2013-12-11 |
18 November 2013 Internal T.I. 2011-0399581I7 F - Application of section 212(1)(d) ITA |
Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(d) - Subparagraph 212(1)(d)(i) |
seriatim benchmark lump sums, although not royalties, came within s. 212(1)(d) |
2013-12-11 |
18 November 2013 Internal T.I. 2011-0399581I7 F - Application of section 212(1)(d) ITA |
Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(d) - Subparagraph 212(1)(d)(viii) |
cost-sharing agreement with catch-up payment provisions qualified |
2013-12-11 |
18 November 2013 Internal T.I. 2011-0399581I7 F - Application of section 212(1)(d) ITA |
Treaties - Income Tax Conventions - Article 12 |
contingent payments came within broad Treaty definition of royalty |
2013-12-11 |
10 July 2013 Internal T.I. 2013-0475501I7 F - Amounts returned to trustee/beneficiary |
Income Tax Act - 101-110 - Section 104 - Subsection 104(13) |
family trust income distributed to children but repaid as reimbursement to father for family expenses was income to him, not them |
2013-12-11 |
10 July 2013 Internal T.I. 2013-0475501I7 F - Amounts returned to trustee/beneficiary |
Income Tax Act - 101-110 - Section 104 - Subsection 104(24) |
distributions to children immediately paid to father |
2013-12-11 |
10 July 2013 Internal T.I. 2013-0475501I7 F - Amounts returned to trustee/beneficiary |
Income Tax Act - 101-110 - Section 104 - Subsection 104(6) |
distributions to children immediately paid to father were deductible even though received by children as his agents |
2013-12-11 |
10 July 2013 Internal T.I. 2013-0475501I7 F - Amounts returned to trustee/beneficiary |
Income Tax Act - 101-110 - Section 105 - Subsection 105(1) |
payment of income distributions by children to father not a benefit under the trust |
2013-12-11 |
10 July 2013 Internal T.I. 2013-0475501I7 F - Amounts returned to trustee/beneficiary |
Income Tax Act - Section 56 - Subsection 56(4) |
payment of distributed family trust income by children to father did not engage s. 56(4) as it was only potential income to him |
2013-12-11 |
11 October 2013 APFF Roundtable Q. 18, 2013-0495851C6 F - Safe income adjustments |
Income Tax Act - Section 54 - Adjusted Cost Base |
downward adjustment under price adjustment clause reduces shares' ACB |
2013-12-11 |
11 October 2013 APFF Roundtable Q. 18, 2013-0495851C6 F - Safe income adjustments |
Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) |
CRA post-closing reassessment of Target's pre-closing income changes its SIOH |
2013-12-04 |
19 November 2013 External T.I. 2012-0455731E5 F - Interprovincial income allocation |
Income Tax Regulations - Regulation 402 - Subsection 402(3) |
where franchisor takes over Ontario franchisee's operations, its royalties from other Ontario franchisees are not assimilated to the Ontario PE |
2013-12-04 |
19 November 2013 External T.I. 2011-0414201E5 F - Coop, ristournes, société de personne |
Income Tax Act - Section 135 - Subsection 135(1) |
a Coop dealing with an LP of which it is a partner has the LP as its customer, and not the LP customers |
2013-12-04 |
19 November 2013 External T.I. 2011-0414201E5 F - Coop, ristournes, société de personne |
Income Tax Act - Section 96 - Subsection 96(1) - Paragraph 96(1)(a) |
customers of LP rather than of members |
2013-12-04 |
11 October 2013 Roundtable, 2013-0495801C6 F - Dividend Paid to Trust and Schedule 3 of T2 |
Income Tax Act - 101-110 - Section 104 - Subsection 104(19) |
s. 104(19) designation is not effective until year end of trust |
2013-12-04 |
11 October 2013 Roundtable, 2013-0495801C6 F - Dividend Paid to Trust and Schedule 3 of T2 |
Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(b) |
s. 104(19)-designated dividend is not received for s. 186(1)(b) purposes until year end of trust |
2013-12-04 |
11 October 2013 APFF Roundtable, 2013-0495811C6 F - De Facto Control |
Income Tax Act - Section 256 - Subsection 256(5.1) |
statutory right of chair to tie-breaking vote does not per se confer de facto control |
2013-11-27 |
11 October 2013 Roundtable, 2013-0495281C6 F - Question 9 - APFF Round Table |
Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(l) |
transfer to RRSP or RRIF of surviving non-resident spouse: SIN required; payment can be made directly to RRSP/RRIF of surviving spouse in accordance with joint instructions even where no specific non-will designation is made |
2013-11-27 |
11 October 2013 Roundtable, 2013-0495281C6 F - Question 9 - APFF Round Table |
Income Tax Act - Section 146 - Subsection 146(8.1) |
deemed receipt of refund of premiums for amount paid to executor, with deemed benefit to recipient spouse |
2013-11-27 |
11 October 2013 Roundtable, 2013-0495281C6 F - Question 9 - APFF Round Table |
Income Tax Act - Section 146.3 - Subsection 146.3(6.1) |
transfer of RRIF by executor to RRIF of surviving spouse |
2013-11-27 |
11 October 2013 Roundtable, 2013-0495281C6 F - Question 9 - APFF Round Table |
Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(q) |
direct transfer to RRIF of surviving non-resident spouse |
2013-11-27 |
29 October 2013 External T.I. 2013-0489771E5 F - Internal Reorganization - 55(3)(a) |
Income Tax Act - Section 248 - Subsection 248(10) |
estate distribution of corporation followed by transfer of assets from related corporation could be part of same series |
2013-11-27 |
29 October 2013 External T.I. 2013-0489771E5 F - Internal Reorganization - 55(3)(a) |
Income Tax Act - Section 55 - Subsection 55(3.2) - Paragraph 55(3.2)(d) |
s. 55(3.2)(d) application to estate distribution of corporation to 3 sibling beneficiaries does not deem them to be related to each other |
2013-11-27 |
29 October 2013 External T.I. 2013-0489771E5 F - Internal Reorganization - 55(3)(a) |
Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) - Subparagraph 55(3)(a)(v) |
relief under s. s. 256(7)(a)(i)(C) or (D) is relevant to s. 55(3.1)(b)(ii), but not to ss. 55(3)(a)(i) to (v) |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0493651C6 F - Affiliated persons and de facto control |
Income Tax Act - Section 256 - Subsection 256(5.1) |
holding of relatively large note where debtor has a iliquid business could give rise to de facto control |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0493651C6 F - Affiliated persons and de facto control |
Income Tax Act - Section 40 - Subsection 40(3.61) |
exception unavailable for inter vivos trust |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0495781C6 F - GRIP Exceeds Safe Income |
Income Tax Act - Section 89 - Subsection 89(1) - Excessive Eligible Dividend Designation |
detailed review required to determine whether creation of preferred share dividend to flow out GRIP in excess of SIOH generatd EEDD |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0495861C6 F - Question 20 - APFF Round Table |
Income Tax Act - Section 248 - Subsection 248(1) - Specified Member |
specified member status determined re involvement in daily management or activities |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0495861C6 F - Question 20 - APFF Round Table |
Income Tax Act - Section 40 - Subsection 40(3.14) - Paragraph 40(3.14)(a) |
not a limited partner if unlimited liability to third parties |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0492791C6 F - Gift by will |
Income Tax Act - Section 118.1 - Subsection 118.1(5) |
potential executor discretion re corporate/estate split of gift might preclude as "gift" |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0495721C6 F - APFF 2013- Round table question 7 |
Income Tax Act - Section 75 - Subsection 75(2) |
Sommerer FMV sale exception maintained with price adjustment clause |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0495721C6 F - APFF 2013- Round table question 7 |
General Concepts - Fair Market Value - Shares |
FMV is a question of fact within TCC's discretion |
2013-11-27 |
11 October 2013 APFF Roundtable, 2013-0493671C6 F - Testamentary trust beneficiary of inter vivos trust |
Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Testamentary Trust |
testamentary trust will lose its status if it is designated as the beneficiary of an inter vivos trust |
2013-11-20 |
7 October 2013 External T.I. 2013-0500941E5 F - Actif utilisé dans une entreprise active |
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Qualified Small Business Corporation Share |
rental property of partnership leased as to 15% to an active business partner did not qualify as active business asset |