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2012-10-17 |
2 October 2012 External T.I. 2012-0446671E5 F - Subsection 78(4) |
Income Tax Act - Section 78 - Subsection 78(4) |
s. 78(4) inapplicable where payment made on 180th day |
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2012-10-10 |
6 July 2012 Internal T.I. 2012-0453461I7 F - rental losses Canada-France Treaty |
Income Tax Act - Section 3 - Paragraph 3(a) - Business Source/Reasonable Expectation of Profit |
no requirement to establish reasonable expectation of profit re deducting loss from French rental property if no personal element |
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2012-10-10 |
6 July 2012 Internal T.I. 2012-0453461I7 F - rental losses Canada-France Treaty |
Treaties - Income Tax Conventions - Article 24 |
s. 126(1) FTC re French income tax on rental income |
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2012-10-03 |
17 July 2012 Internal T.I. 2012-0454701I7 F - Arrière-arrière-grand-père |
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Share of the Capital Stock of a Family Farm or Fishing Corporation - Paragraph (a) - Subparagraph (a)(iii) |
farm use by great-great-grandparent did not qualify the property, cf. great-grandparent |
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2012-10-03 |
17 July 2012 Internal T.I. 2012-0454701I7 F - Arrière-arrière-grand-père |
Income Tax Act - Section 252 - Subsection 252(2) - Paragraph 252(2)(a) |
parent in s. 110.6 context includes great-grandparent but not great-great-grandparent |
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2012-09-14 |
4 July 2012 External T.I. 2011-0429601E5 F - Roulement et société de personnes |
Income Tax Act - Section 98 - Subsection 98(3) |
two partnerships potentially could be merged by using s. 97(2) followed by s. 98(3), or the reverse |
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2012-09-14 |
4 July 2012 External T.I. 2011-0429601E5 F - Roulement et société de personnes |
Income Tax Act - Section 97 - Subsection 97(2) |
partnership is taxpayer for purposes of s. 97(2), which might be used with s. 98(3) |
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2012-09-14 |
30 July 2012 External T.I. 2011-0421801E5 F - Choix aux paragraphes 70(2) et 70(3) |
Income Tax Act - Section 70 - Subsection 70(2) |
if desire for s. 70(3) to apply, a timely revocation of s. 70(2) election can be made |
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2012-09-14 |
30 July 2012 External T.I. 2011-0421801E5 F - Choix aux paragraphes 70(2) et 70(3) |
Income Tax Act - Section 70 - Subsection 70(3) |
application of s. 70(3) re deceased’s share of partnership WIP is at estate’s choice |
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2012-08-31 |
3 July 2012 Internal T.I. 2012-0450821I7 F - Interaction of 84(3) and 69(1)(b) |
Income Tax Act - Section 84 - Subsection 84(3) |
s. 84(3) deemed dividend based on actual redemption proceeds rather than s. 69 |
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2012-08-31 |
3 July 2012 Internal T.I. 2012-0450821I7 F - Interaction of 84(3) and 69(1)(b) |
Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(b) |
s. 69(1)(b) adjustment generates capital gain even though larger share redemption proceeds in the 1st place would have been exempt |
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2012-08-31 |
14 August 2012 External T.I. 2012-0450041E5 F - subsection 55(4) |
Income Tax Act - Section 55 - Subsection 55(4) |
s. 55(4) not engaged where transactions eliminate shareholdings but not unrelated status of unrelated person |
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2012-08-31 |
14 August 2012 External T.I. 2012-0450041E5 F - subsection 55(4) |
Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) - Subparagraph 55(3)(a)(ii) |
s. 55(3)(a)(ii) exclusion avoided by distributing shares out of unrelated-person trust |
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2012-08-31 |
15 August 2012 External T.I. 2012-0444461E5 F - Pompiers volontaires |
Income Tax Act - Section 118.06 - Subsection 118.06(1) |
not a “volunteer” if paid more than a minimal amount or minimum hours are required |
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2012-08-31 |
15 August 2012 External T.I. 2012-0444461E5 F - Pompiers volontaires |
Income Tax Act - Section 81 - Subsection 81(4) |
“volunteer firefighter” has the same meaning as in s. 118.96(1) |
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2012-08-31 |
10 July 2012 External T.I. 2012-0437531E5 F - Télétravail et revenu d'emploi d'un Indien |
Other Legislation/Constitution - Federal - Indian Act - Section 87 |
income of Indian required to telecommute from home office on reserve likely exempted |
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2012-08-31 |
8 August 2012 External T.I. 2012-0442321E5 F - Pompiers volontaires |
Income Tax Act - Section 118.06 - Subsection 118.06(1) |
firefighter is not “volunteer” if remuneration is “comparable” to regular firefighter |
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2012-08-31 |
27 June 2012 External T.I. 2012-0440721E5 F - Compte de gestion de santé |
Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangement |
conversion of future bonus into PHSP is taxable |
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2012-08-24 |
14 June 2012 External T.I. 2012-0443711E5 F - RAP - Annulation de la vente de l'immeuble |
Income Tax Act - Section 146.01 - Subsection 146.01(1) - Eligible Amount |
subsequent court-ordered voiding of home purchase funded with HBP does not affect satisfaction of the HBP conditions |
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2012-08-24 |
14 June 2012 External T.I. 2012-0443711E5 F - RAP - Annulation de la vente de l'immeuble |
General Concepts - Effective Date |
subsequent court-ordered voiding of home purchase did not retroactively void satisfaction of the HBP conditions at home purchase time |
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2012-08-24 |
26 July 2012 External T.I. 2012-0440261E5 F - Crédit d'impôt pour enfants |
Income Tax Act - Section 118 - Subsection 118(1) - Paragraph 118(1)(b.1) |
end-of-year requirement not satisfied when child died in year before attaining 18 |
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2012-08-24 |
30 July 2012 Internal T.I. 2012-0436711I7 F - Reassessment beyond the normal reassessment period |
Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(i) |
CRA could reassess beyond normal reassessment period based solely on an ARQ audit report showing error and carelessness of the taxpayer |
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2012-08-10 |
3 July 2012 External T.I. 2012-0443421E5 F - 84.1 and partnership |
Income Tax Act - Section 245 - Subsection 245(4) |
s. 245(2) has been applied to the use of a partnership to avoid s. 84.1 |
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2012-08-10 |
3 July 2012 External T.I. 2012-0443421E5 F - 84.1 and partnership |
Income Tax Act - Section 84.1 - Subsection 84.1(1) |
use of partnership to avoid s. 84.1 could be attacked through challenge to partnership validity or applying s. 245(1) re circumvention of s. 84.1 |
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2012-08-10 |
13 July 2012 External T.I. 2012-0443281E5 F - DPA- véhicule dans le cadre d'un bien locatif |
Income Tax Regulations - Regulation 1102 - Subsection 1102(1) - Paragraph 1102(1)(c) |
CCA could be claimable on motor vehicle used to earn rental income |
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2012-07-27 |
3 July 2012 External T.I. 2012-0448651E5 F - Allocation of Safe Income |
Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(c) |
apportionment of safe income amongst three classes of discretionary common shares took into account the entitlement of the first class under the USA to a preferential dividend |
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2012-07-20 |
9 July 2012 External T.I. 2012-0438751E5 F - Police d'assurance-vie |
Income Tax Act - Section 148 - Subsection 148(9) - Proceeds of the Disposition |
proceeds of disposition arise when policy settled and are calculated by insurer |
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2012-07-20 |
9 July 2012 External T.I. 2012-0438751E5 F - Police d'assurance-vie |
Income Tax Act - Section 237 - Subsection 237(1.1) |
provision of SIN by holder of matured policy to insurer is required |
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2012-07-06 |
28 June 2012 External T.I. 2011-0427871E5 F - Application des paragraphes 98(3) 98(5) et 73(1) |
Income Tax Act - Section 73 - Subsection 73(1) |
s. 73(1) available on transfer of undivided interest from one separated spouse to the other following s. 98(3) wind-up of their rental partnership |
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2012-07-06 |
28 June 2012 External T.I. 2011-0427871E5 F - Application des paragraphes 98(3) 98(5) et 73(1) |
Income Tax Act - Section 98 - Subsection 98(5) |
rental operation generating property income is a business for s. 98(5) purposes |
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2012-07-06 |
26 June 2012 External T.I. 2011-0417391E5 F - Bien remis à une fiducie |
Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Testamentary Trust |
being a contingent beneficiary of an inter vivos trust disqualified a testamentary trust as such |
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2012-07-06 |
26 June 2012 External T.I. 2011-0417391E5 F - Bien remis à une fiducie |
Income Tax Act - Section 248 - Subsection 248(25) |
testamentary trust that was included in the class of potential beneficiaries of a discretionary inter vivos trust was a beneficiary |
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2012-07-06 |
26 June 2012 Internal T.I. 2012-0436381I7 F - Nature d’un revenu - Indemnité d’assurance |
Income Tax Act - Section 129 - Subsection 129(6) |
insurance proceeds in lieu of rents from associated corp did not qualify under s. 129(6) |
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2012-07-06 |
26 June 2012 Internal T.I. 2012-0436381I7 F - Nature d’un revenu - Indemnité d’assurance |
Income Tax Act - Section 9 - Compensation Payments |
life insurance proceeds for rental property did not have the character of rents from an associated corp |
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2012-06-29 |
14 June 2012 External T.I. 2011-0428341E5 F - Crédit activités physiques, activités artistiques |
Income Tax Act - Section 63 - Subsection 63(3) - Child Care Expense |
expenses that qualified for the child fitness or children's arts tax credit potentially could qualify as child care expenses |
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2012-06-22 |
5 June 2012 External T.I. 2011-0417971E5 F - Sociétés associées - CII |
Income Tax Act - Section 127 - Subsection 127(10.2) |
computation of expenditure limit where one CCPC acquires another |
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2012-06-22 |
13 June 2012 Internal T.I. 2012-0435351I7 F - SEPE - chèques en circulation |
Income Tax Act - Section 248 - Subsection 248(1) - Small Business Corporation |
outstanding and uncashed cheques did not reduce cash |
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2012-06-22 |
13 June 2012 Internal T.I. 2012-0435351I7 F - SEPE - chèques en circulation |
General Concepts - Payment & Receipt |
in Quebec, payment by cheque does not occur until debiting of bank account |
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2012-06-22 |
24 April 2012 Internal T.I. 2011-0400671I7 F - Honoraires professionnels |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Start-Up and Liquidation Costs |
fees incurred by individual before intention to form a corp did not qualify as pre-incorporation expenses |
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2012-06-22 |
24 April 2012 Internal T.I. 2011-0400671I7 F - Honoraires professionnels |
Income Tax Act - Section 15 - Subsection 15(1) |
meaning of “benefit” |
