Translations of recent severed letters

Bundle Date Translated severed letter Summaries under Summary descriptor
2013-01-16 5 October 2012 Roundtable, 2012-0453201C6 F - Règles d'attribution- séparation & décès Income Tax Act - Section 13 - Subsection 13(1) recapture from rental property is property income from that property
5 October 2012 Roundtable, 2012-0451251C6 F - Excess of foreign tax withheld at source Income Tax Act - Section 126 - Subsection 126(7) - Non-Business-Income Tax foreign withholdings on American depositary receipts in excess of Treaty-limited rate does not qualify as an income tax
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose tax withheld in excess of Treaty-rate is not deductible as an expense
22 November 2012 External T.I. 2012-0441781E5 F - Prohibited Investment - Cooperative Income Tax Regulations - Regulation 4900 - Subsection 4900(15) application to shares of cooperative
Income Tax Act - Section 248 - Subsection 248(1) - Shareholder investor in cooperative holds shares and is shareholder
Income Tax Act - Section 207.01 - Subsection 207.01(1) - Prohibited Investment - Paragraph (b) - Subparagraph (b)(i) share of cooperative can be a share of corporation for prohibited investment purposes
15 October 2012 Internal T.I. 2012-0452161I7 F - Frais de garde, revenu gagné, RQAP Income Tax Act - Section 63 - Subsection 63(3) - Earned Income Quebec Parental Insurance Plan (QPIP) benefits not included in earned income
5 October 2012 Roundtable, 2012-0451241C6 F - Benefit conferred on a NR shareholder by a NR corp Income Tax Act - Section 214 - Subsection 214(3) - Paragraph 214(3)(a) gratuitous use by NR shareholder of Canadian property of the NR corporation produces a s. 214(3)(a) deemed dividend
Income Tax Act - Section 15 - Subsection 15(7) s. 15(7) assists in determining that s. 15 can apply to the NR shareholder of a NR corporation gratuitously using the corporation’s Canadian property
Income Tax Act - Section 247 - New - Subsection 247(2) s. 247(2) could apply to produce s. 212(1)(d) withholding where the NR shareholder of a NR corporation gratuitously uses Canadian corporate property
5 October 2012 Roundtable, 2012-0453181C6 F - Person affiliated with RESP and RDSP Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) both a subscriber and beneficiary of RESP can be affiliated with such trust
5 October 2012 Roundtable, 2012-0451231C6 F - Gifts to American charities Treaties - Income Tax Conventions - Article 21 U.S. charities are not qualified donees under Art XXI(7) of U.S. Convention
5 October 2012 Roundtable, 2012-0453141C6 F - RCA, prohibited investment Income Tax Act - Section 207.5 - Subsection 207.5(1) - Advantage whether split-dollar arrangement entails an advantage depends on the particulars
2013-01-09 5 November 2012 External T.I. 2012-0458801E5 F - Frais de déménagement Income Tax Act - Section 248 - Subsection 248(1) - Eligible Relocation move can relate to an existing workplace if there is a causal link
30 October 2012 Internal T.I. 2012-0457941I7 F - Indemnité de départ Income Tax Act - Section 110.2 - Subsection 110.2(1) - Specified Portion an award in settlement of severance pay did not relate back to the years in which it accrued
16 October 2012 External T.I. 2011-0425271E5 F - Small CCPC Income Tax Act - Section 157 - Subsection 157(1.2) - Paragraph 157(1.2)(a) carryback of losses can produce small CCPC ("SCCPC") status (quarterly instalments) but not reduce instalment base
Income Tax Regulations - Regulation 5301 - Subsection 5301(4) - Paragraph 5301(4)(a) Amalco’s instalments based on tax payable of predecessors
Income Tax Regulations - Regulation 5301 - Subsection 5301(6) - Paragraph 5301(6)(a) flow-through of attributes of wound-up sub
Income Tax Regulations - Regulation 5301 - Subsection 5301(8) - Paragraph 5301(8)(a) 1st instalment base of transferor taken into account by transferee
13 June 2012 Internal T.I. 2012-0448961I7 F - Paiements en trop faits par un employeur Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(n) salary mistakenly paid after expiry of sick leave period and then repaid, treated as clerical error rather than s. 8(1)(n) adjustment
Income Tax Act - Section 80.4 - Subsection 80.4(1) grant of extended period for employee to repay overpayment was not a s. 80.4 loan
5 November 2012 External T.I. 2012-0445241E5 F - 54 et 40(2)b) Income Tax Act - Section 54 - Principal Residence whether a duplex is a single housing unit turns on the degree of independence v. integration of the two units
2012-12-24 5 October 2012 Roundtable, 2012-0454191C6 F - Policy on Facts in a Ruling Request Income Tax Act - Section 152 - Subsection 152(1) CRA is not confined by requested rulings and submitted facts, where it has concerns
5 October 2012 Roundtable, 2012-0451291C6 F - Subsection 85(1) and UMIR Marketplace Rules Income Tax Act - Section 85 - Subsection 85(1) s. 85(1) not available where shares transferred to holding company through the exchange
5 October 2012 Roundtable, 2012-0453941C6 F - Principal residence owned by a trust-exemption Income Tax Act - Section 54 - Principal Residence - Paragraph (c.1) status based on s. 248(25) application and actual habitation
Income Tax Act - Section 54 - Principal Residence - Paragraph (f) renunciation by specified beneficiaries immediately before sale would not affect para. (f) exclusion
5 October 2012 Roundtable, 2012-0453161C6 F - RRIF, prohibited investment, minimum amount Income Tax Act - Section 146.3 - Subsection 146.3(1) - Retirement Income Fund payout of transitional prohibited investment benefit may be taken into account as satisfying the minimum amount
5 October 2012 APFF Roundtable, 2012-0453891C6 F - Price Adjustment Clause General Concepts - Effective Date operation of freeze price adjustment clause depends on share actually being adjusted and can apply for s. 75(2) purposes
Income Tax Act - Section 75 - Subsection 75(2) price adjustment clause that is implemented potentially can prevent s. 75(2) application to estate freeze
5 October 2012 APFF Roundtable, 2012-0454171C6 F - Taxable Pref. Shares and Short-Term Pref. Shares Income Tax Act - Section 248 - Subsection 248(1) - Taxable Preferred Share - Paragraph (f) para. (f) tests applied at time of payment and receipt of dividend
2012-12-12 20 November 2012 External T.I. 2012-0440031E5 F - Quebec Tax Credit for Production of Performances Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) - Subparagraph 12(1)(x)(iv) Québec Credit for the Production of Performances includible under ss. 12(1)(x)(iii) and (iv) rather than s. 9
2012-12-05 7 November 2012 External T.I. 2012-0437821E5 F - Registered Plan - Advantage Income Tax Act - Section 207.01 - Subsection 207.01(1) - Advantage - Paragraph (b) advantage from swap transaction includes 100% of resulting value increase, income on transferred property and income on income
5 October 2012 APFF Roundtable, 2012-0454091C6 F - GRIP and deemed dividend pursuant to 84.1(1)(b) Income Tax Act - Section 89 - Subsection 89(14) s. 84.1 deemed dividend paid to an individual could be an eligible dividend notwithstanding him not being a shareholder of the payer
Income Tax Act - Section 84.1 - Subsection 84.1(1) - Paragraph 84.1(1)(b) unnecessary in s. 89(14) for s. 84.1 to have deemed dividend to be paid on shares
5 October 2012 APFF Roundtable Q. 13, 2012-0454181C6 F - Discretionary Dividend Shares Income Tax Act - Section 15 - Subsection 15(1) discretionary dividend shares issued for nominal consideration
Income Tax Act - Section 245 - Subsection 245(4) general policy against conferring a benefit on a corporation
Income Tax Act - Section 110.6 - Subsection 110.6(7) - Paragraph 110.6(7)(b) acquisition by Holdco of discretionary dividend shares of Opco at undervalue could engage s. 110.6(7) application to Opco commons
5 October 2012 APFF Roundtable Q. 17, 2012-0454111C6 F - Power of attorney and acquisition of control Income Tax Act - Section 251.2 - Subsection 251.2(2) - Paragraph 251.2(2)(a) power of attorney in event of capacity is an external document which, when judically approved, does not effect a change of control
2012-11-28 22 October 2012 External T.I. 2012-0432241E5 F - Impôt des enfants mineurs - gain en capital Income Tax Act - Section 120.4 - Subsection 120.4(4) purported dirty s. 85(1) capital gains crystallization by minor child instead generates dividend
27 August 2012 Internal T.I. 2012-0435571I7 F - Opposition à une cotisation Income Tax Act - Section 165 - Subsection 165(1) Act does not limit the reasons for an objection (taxpayer can change mind up to objection time)

Pages