2004-12-03 |
12 November 2004 External T.I. 2004-0080051E5 F - Allocation et remboursement de dépenses-employé |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) |
per-hour reimbursement of employees’ use of equipment is taxable allowance/ reimbursed employment-related internet use is not taxable |
2004-12-03 |
29 November 2004 External T.I. 2004-0080891E5 F - Régime d'assurance invalidité |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(f) |
employer cannot render a disability plan a full employee-funded plan by arbitrarily allocating composite employee contributions to that plan |
2004-12-03 |
3 November 2004 Internal T.I. 2004-0083791I7 F - Paragraphe 44.1(2) |
Income Tax Act - Section 44.1 - Subsection 44.1(1) - Eligible Small Business Corporation |
shares were not of an eligible small business corporation given that only business activity was desultory zoning application |
2004-12-03 |
3 November 2004 Internal T.I. 2004-0083791I7 F - Paragraphe 44.1(2) |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Start-Up and Liquidation Costs |
business did not commence with zoning application that was not actively pursued |
2004-12-03 |
3 November 2004 Internal T.I. 2004-0083791I7 F - Paragraphe 44.1(2) |
Income Tax Act - Section 44.1 - Subsection 44.1(8) |
pre-condition of carrying on business not satisfied / general overview provided |
2004-12-03 |
30 November 2004 External T.I. 2004-0090181E5 F - Assurance maladie grave |
Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(a) - Subparagraph 39(1)(a)(iii) |
no capital gain on receipt by corporation of benefit under a critical illness insurance policy or of refund of premiums |
2004-12-03 |
30 November 2004 External T.I. 2004-0090181E5 F - Assurance maladie grave |
Income Tax Act - Section 15 - Subsection 15(1) |
misallocation shareholder benefit could arise if corporation pays premiums for its critical illness policy and sole shareholder pays for rider entitling him to premium refunds |
2004-12-03 |
30 November 2004 External T.I. 2004-0090181E5 F - Assurance maladie grave |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(h) |
premiums paid by corporation for critical illness policy of which it is beneficiary are non-deductible pursuant to s. 18(1)(h) |
2004-12-03 |
30 November 2004 External T.I. 2004-0090181E5 F - Assurance maladie grave |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose |
premiums paid by corporation for critical illness policy of which it is beneficiary are non-deductible per s. 18(1)(a) or (h) |
2004-12-03 |
16 November 2004 Internal T.I. 2004-0092521I7 F - Frais médicaux - époux |
Income Tax Act - Section 118.2 - Subsection 118.2(1) |
expenses of other spouse incurred in year prior to their becoming spouses or common-law partners cannot be claimed |
2004-12-03 |
30 November 2004 External T.I. 2004-0092941E5 F - Déductibilité des intérêt |
Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) - Subparagraph 20(1)(c)(i) |
interest deduction not generally denied where negative spread |
2004-12-03 |
23 November 2004 External T.I. 2004-0094101E5 F - IT-474R Administrative Relief |
Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(a) |
IT-474R, para. 10 provides no administrative relief from short taxation year from amalgamation |
2004-12-03 |
23 November 2004 External T.I. 2004-0094101E5 F - IT-474R Administrative Relief |
Income Tax Act - Section 20 - Subsection 20(24) |
amalgamated corporation can make s. 20(24) election |
2004-12-03 |
17 November 2004 External T.I. 2004-0097131E5 F - Travail temporaire; négociation de contrats |
Income Tax Act - Section 6 - Subsection 6(6) - Paragraph 6(6)(a) - Subparagraph 6(6)(a)(i) |
union executives standing for election every 4 years would not have duties of a temporary nature |
2004-12-03 |
17 November 2004 External T.I. 2004-0097131E5 F - Travail temporaire; négociation de contrats |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(b) - Subparagraph 6(1)(b)(v) |
expenses of union employee in negotiating contracts with the union members’ employers would not be included |
2004-12-03 |
29 November 2004 External T.I. 2004-0105131E5 F - Avantages sur options - Diminution de valeur |
Income Tax Act - Section 7 - Subsection 7(8) |
s. 7(1)(a) benefit is realized under s. 7(8) based on shares’ FMV at exercise, and capital loss is realized if the shares decline before their disposition |
2004-11-19 |
10 November 2004 External T.I. 2004-0092561E5 F - 85(1), 248(1) "Disposition" |
Income Tax Act - Section 85 - Subsection 85(1) |
no disposition on common-for-common exchange |
2004-11-19 |
10 November 2004 External T.I. 2004-0092561E5 F - 85(1), 248(1) "Disposition" |
Income Tax Act - Section 248 - Subsection 248(1) - Disposition |
no disposition to the extent that there is a dirty s. 95 exchange of old common shares for identical new common shares |
2004-11-19 |
16 November 2004 External T.I. 2004-0064821E5 F - 88(1) Bump |
Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(c.3) - Subparagraph 88(1)(c.3)(ii) |
acquisition by Buyco of Target shares before its acquisition of control accommodated through restrictive interpretation of s. 88(1)(c.3)(ii) |
2004-11-19 |
16 November 2004 External T.I. 2004-0064821E5 F - 88(1) Bump |
Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(c) - Subparagraph 88(1)(c)(vi) - Clause 88(1)(c)(vi)(B) - Subclause 88(1)(c)(vi)(B)(I) |
where Buyco acquired Target shares before acquiring control of Target, Vendor would be a person described in s. 88(1)(c)(vi)(B)(I) |
2004-11-19 |
16 November 2004 External T.I. 2004-0064821E5 F - 88(1) Bump |
Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(c.3) - Subparagraph 88(1)(c.3)(i) |
example of situation where the acquisition of shares of parent by vendor would not be within s. 88(1)(c.3)(i), but would fall within s. 88(1)(c.3)(ii) |
2004-11-19 |
10 November 2004 External T.I. 2004-0077831E5 F - Biens à usage personnel |
Income Tax Act - Section 9 - Capital Gain vs. Profit - Collectibles |
collection of items of personal interest accumulated over 35 years, with some trading, and then auctioned off, likely were capital property |
2004-11-19 |
10 November 2004 External T.I. 2004-0077831E5 F - Biens à usage personnel |
Income Tax Act - Section 45 - Subsection 45(1) - Paragraph 45(1)(a) - Subparagraph 45(1)(a)(i) |
offering personal collection on an auction site did not constitute a change of use |
2004-11-19 |
10 November 2004 External T.I. 2004-0077831E5 F - Biens à usage personnel |
Income Tax Act - Section 46 - Subsection 46(3) |
selling off personal collection one-by-one on auction site did not engage s. 46(3) |
2004-11-19 |
27 October 2004 External T.I. 2004-0080901E5 F - Cotisation professionnelle-frais de traduction |
Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(i) - Subparagraph 8(1)(i)(i) |
costs of translating documents re the taxpayer’s foreign professional training did not qualify |
2004-11-12 |
27 October 2004 External T.I. 2004-0063061E5 F - Provision pour somme payable |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose |
agreement of trust to pay all of its return, in excess of guaranteed return, to its manager likely would not satisfy s. 18(1)(a) |
2004-11-12 |
2 November 2004 External T.I. 2004-0063491E5 F - Droit de bénéficiaire et résidence principale |
Income Tax Act - Section 248 - Subsection 248(25) |
an individual who would take in the event of the intestacy of a named beneficiary of a trust is beneficially interested in the trust |
2004-11-12 |
2 November 2004 External T.I. 2004-0063491E5 F - Droit de bénéficiaire et résidence principale |
Income Tax Act - Section 54 - Principal Residence - Paragraph (c.1) - Subparagraph (c.1)(ii) |
parents could be specified beneficiaries even if they would take only on the intestacy of a named beneficiary or if under the trust deed they had a habitation right |
2004-11-12 |
8 November 2004 External T.I. 2004-0067161E5 F - Change étranger |
Income Tax Act - Section 39 - Subsection 39(2) |
examples of FX conversions into and out of USD account of US share investor |
2004-11-12 |
22 October 2004 Internal T.I. 2004-0079791I7 F - Pension alimentaire |
Income Tax Act - Section 60.1 - Subsection 60.1(3) |
s. 60.1(3) did not apply since the judgment recognizing the amounts paid as support was given more than one year later |
2004-11-12 |
27 October 2004 External T.I. 2004-0080191E5 F - Paragraphes 6(1) et 6(2) de la Loi |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) |
annual recognition of s. 6(1)(e) standby charges does not reduce quantum of s. 6(1)(a) benefit where subsequent employee bargain-purchase of automobile |
2004-11-12 |
27 October 2004 External T.I. 2004-0080191E5 F - Paragraphes 6(1) et 6(2) de la Loi |
Income Tax Act - Section 15 - Subsection 15(5) |
benefit from bargain purchase of car from employer not reduced by previous s. 15(5) standby charges |
2004-11-12 |
27 October 2004 External T.I. 2004-0088581E5 F - Prêt à un actionnaire |
Income Tax Act - Section 15 - Subsection 15(2) - Paragraph 15(2)(b) |
exception unavailable to the extent loan funded renovations |
2004-11-12 |
27 October 2004 External T.I. 2004-0088581E5 F - Prêt à un actionnaire |
Income Tax Act - Section 15 - Subsection 15(2) - Paragraph 15(2)(a) |
exception continues to apply following cessation of employment |
2004-11-12 |
8 November 2004 External T.I. 2004-0092021E5 F - RDTOH: Foreign tax credit under sub. 126(1) |
Income Tax Act - Section 129 - Subsection 129(4) - Non-Eligible Refundable Dividend Tax on Hand - Paragraph (a) - Subparagraph (a)(i) - Variable B |
RDTOH was reduced by s. 126(1) credit even where it related to a Canadian business rather than a source of property income |
2004-11-12 |
8 November 2004 External T.I. 2004-0092021E5 F - RDTOH: Foreign tax credit under sub. 126(1) |
Income Tax Act - Section 126 - Subsection 126(7) - Non-Business-Income Tax |
foreign tax on royalty income generated from a Canadian business generating IP gave rise to credit under s. 126(1) rather than s. 126(2)] |
2004-11-12 |
10 November 2004 External T.I. 2004-0096991E5 F - Shareholders' agreement |
Income Tax Act - Section 256 - Subsection 256(1.4) - Paragraph 256(1.4)(a) |
Aco, owned by X, is associated with Zco, owned equally by X and Y, where the shareholders’ agreement provides that either can acquire the other’s shares on the latter’s disability |
2004-11-12 |
10 November 2004 External T.I. 2004-0096991E5 F - Shareholders' agreement |
Income Tax Act - Section 251 - Subsection 251(5) - Paragraph 251(5)(b) - Subparagraph 251(5)(b)(i) |
s. 256(1.4)(a) applied to a right to acquire the other’s shares even though it was reciprocal |
2004-11-12 |
8 October 2004 APFF Roundtable Q. 2, 2004-0085671C6 F - Scission d'entreprise - choix de 86.1 |
Income Tax Act - Section 86.1 - Subsection 86.1(2) |
sources of CRA information on s. 86.1 |
2004-11-12 |
8 October 2004 APFF Roundtable Q. 6, 2004-0090831C6 F - 12(4) L.I.R. et fiducies personnelles |
Income Tax Act - 101-110 - Section 104 - Subsection 104(24) |
deemed income (e.g., under Reg. 7000) can be distributed if required by trust terms, or if permitted and trustee unconditionally exercise discretion to do so before year end |