2003-11-14 |
6 November 2003 External T.I. 2003-0039525 F - Canadian Renewable & Conservation Expenses |
Income Tax Regulations - Schedules - Schedule II - Class 43.1 - Paragraph (d) - Subparagraph (d)(viii) |
computers used in operating landfill biogas site might be Class 10 property, and applications software would be Class 43.1 or Class 12 property/ below-surface pipes would not qualify |
2003-11-14 |
6 November 2003 External T.I. 2003-0039525 F - Canadian Renewable & Conservation Expenses |
Income Tax Regulations - Schedules - Schedule II - Class 12 - Paragraph 12(o) |
applications software used by computers for operation of biogas landfill site would be Class 43.1 or Class 12 property |
2003-11-14 |
6 November 2003 External T.I. 2003-0041355 F - Subsections 110.(19) and 85(1) |
Income Tax Act - Section 85 - Subsection 85(1) |
s. 85(1) rollover for stepped-up s. 110.6(19) ACB |
2003-11-14 |
5 November 2003 Internal T.I. 2003-0043277 F - Benefit-Use of Automobiles |
Income Tax Act - Section 246 - Subsection 246(1) - Paragraph 246(1)(a) |
s. 246(1)(a) application re mother’s use of a car of Opco controlled by her son’s Holdco to her rather than son turned on whether her minority Holdco had significant influence over Opco |
2003-11-14 |
5 November 2003 Internal T.I. 2003-0043277 F - Benefit-Use of Automobiles |
Income Tax Act - Section 15 - Subsection 15(5) |
application of s. 15(5) to shareholder’s use of company automobile |
2003-11-14 |
5 November 2003 Internal T.I. 2003-0043277 F - Benefit-Use of Automobiles |
Income Tax Act - Section 10 - Subsection 10(1) |
automobiles in car dealer inventory used for employee’s personal use remained in inventory, cf. if converted primarily to personal use of shareholder (which would not be a disposition) |
2003-11-14 |
5 November 2003 Internal T.I. 2003-0043277 F - Benefit-Use of Automobiles |
Income Tax Act - Section 9 - Computation of Profit |
conversion of automobile in car inventory to personal use of CEO would not entail its deemed disposition nor would the conversion of car inventory to personal use of shareholders |
2003-11-14 |
3 November 2003 Internal T.I. 2003-0044817 F - Copies of Electronic Documents |
Income Tax Act - Section 231.5 - Subsection 231.5(1) |
CCRA audit right to take electronic copies and to print out |
2003-11-14 |
3 November 2003 Internal T.I. 2003-0044817 F - Copies of Electronic Documents |
Income Tax Act - Section 231.1 - Subsection 231.1(1) |
CCRA auditors may take electronic copies of taxpayer records |
2003-11-14 |
5 November 2003 External T.I. 2003-0045085 F - Section 159-Payments on Behalf of Others159(2) |
Income Tax Act - Section 159 - Subsection 159(2) |
trustee in bankruptcy must be acting in that capacity for that exception to apply |
2003-11-07 |
27 October 2003 Internal T.I. 2003-0022887 F - CII-PECHEURS |
Income Tax Act - Section 127 - Subsection 127(9) - Specified Percentage - Paragraph (a) - Subparagraph (a)(iii) |
Gaspé Peninsula includes St. Lawrence |
2003-11-07 |
29 October 2003 External T.I. 2003-0026355 F - ECHANGE D'ACTIONS |
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(14) - Paragraph 110.6(14)(f) - Subparagraph 110.6(14)(f)(i) |
s. 110.6(14)(f)(i) applies to shares issued as part consideration for shares of a different class transferred to the corporation on a dirty s. 85 exchange |
2003-11-07 |
30 October 2003 External T.I. 2003-0037465 F - Subsections 40(3.3) & 40(3.4) |
Income Tax Act - Section 40 - Subsection 40(3.4) |
non-application of s. 40(3.4) where taxpayer acquires then immediately disposes of an additional block/ application of formula where it partially dips into existing block |
2003-11-07 |
5 November 2003 Internal T.I. 2003-0037977 F - FRAIS POUR ANNULER UNE OFFRE D'ACHAT |
Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(i) |
legal fees incurred to defend a repudiation of a purchase contract might be a disposition expense (of the rights to purchase) |
2003-11-07 |
31 October 2003 Internal T.I. 2003-0040997 F - CHANTIER PARTICULIER REPAS CONJOINT |
Income Tax Act - Section 6 - Subsection 6(6) - Paragraph 6(6)(a) |
s. 6(6)(a) does not extend to covering meal expenses of visiting spouses |
2003-11-07 |
4 November 2003 External T.I. 2003-0042295 F - CONVENTION DE RETRAITE REVENU D'INTERET |
Income Tax Act - Section 207.5 - Subsection 207.5(1) - Refundable Tax - Paragraph (b) |
requirement to include interest income under s. 12 in computing refundable tax at end of year |
2003-11-07 |
31 October 2003 External T.I. 2003-0045795 F - DEDOMMAGEMENT POUR PERTE DE REVENU |
Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(a) - Subparagraph 56(1)(a)(i) |
Quebec government compensation to pension plan members for cessation of employer contributions was not itself pension or other income |
2003-11-07 |
31 October 2003 External T.I. 2003-0045795 F - DEDOMMAGEMENT POUR PERTE DE REVENU |
Income Tax Act - Section 3 - Paragraph 3(a) |
lump sum government compensation for loss of employer pension plan contributions was not income from a source |
2003-10-31 |
29 October 2003 External T.I. 2003-0006505 F - REGIME D'ASSURANCE SALAIRE |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(f) |
criteria for determining whether there are separate plans |
2003-10-31 |
20 October 2001 External T.I. 2003-0007015 F - RESSOURCE INTERMEDIAIRE |
Income Tax Act - Section 81 - Subsection 81(1) - Paragraph 81(1)(h) |
amounts received for accommodating disabled individuals in the taxpayer’s home were exempted |
2003-10-31 |
20 October 2001 External T.I. 2003-0007015 F - RESSOURCE INTERMEDIAIRE |
Income Tax Act - Section 45 - Subsection 45(1) - Paragraph 45(1)(c) |
amounts received for accommodating disabled individuals in the taxpayer’s home would not engage s. 45(1)(c) if they were exempted under s. 81(1)(h) |
2003-10-31 |
23 October 2003 External T.I. 2003-0017935 F - BIEN AGRICOLE ADMISSIBLE |
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Qualified Farm or Fishing Property |
rebate of municipal taxes reduces the farming expense rather than constituting gross revenue from farming |
2003-10-31 |
23 October 2003 External T.I. 2003-0017935 F - BIEN AGRICOLE ADMISSIBLE |
Income Tax Act - Section 248 - Subsection 248(1) - Gross Revenue |
rebate of municipal taxes reduced that business expense rather than constituting gross revenue |
2003-10-31 |
23 October 2003 External T.I. 2003-0017935 F - BIEN AGRICOLE ADMISSIBLE |
Income Tax Act - Section 9 - Expense Reimbursement |
reimbursement of business expense reduces the expense rather than being included in gross revenue |
2003-10-31 |
15 October 2003 External T.I. 2003-0030905 F - Associated Corporations and 129(6) |
Income Tax Act - Section 256 - Subsection 256(2) |
s. 256(2) election does not affect the operation of s. 129(6) |
2003-10-31 |
29 October 2003 External T.I. 2003-0033435 F - CREDIT POUR INTERET SUR PRETS ETUDIANTS |
Income Tax Act - Section 118.62 |
exclusion for amount paid in satisfaction of a judgment applies to interest that was paid during the course of the legal proceedings resulting in the judgment |
2003-10-31 |
29 October 2003 External T.I. 2003-0037435 F - REMBOURSEMENT DE PAIMENTS D'UN REEE |
Income Tax Act - Section 146.1 - Subsection 146.1(2) |
subscriber can assign or pledge the right to receive repayments of payments |
2003-10-24 |
15 October 2003 External T.I. 2003-0014535 F - FRAIS DE GARDE D'ENFANTS |
Income Tax Act - Section 63 - Subsection 63(3) - Child Care Expense - Paragraph (d) |
fees for daycare at day sports camp could qualify |
2003-10-24 |
20 October 2003 External T.I. 2003-0014615 F - allocation non-imposable |
Income Tax Act - Section 6 - Subsection 6(16) - Paragraph 6(16)(a) |
per-kilometre rates published by Finance could be used for reasonableness purposes |
2003-10-24 |
16 October 2003 Internal T.I. 2003-0032537 F - EQUIVALENT POUR PERSONNE |
Income Tax Act - Section 118 - Subsection 118(1) - Paragraph 118(1)(b) |
young child could not claim credit for mother |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035385 F - POLICE D'ASSURANCE CONTRE MALADIE GRAVE |
Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose |
premiums on critical illness policy are non-deductible to the corporate policyholder even if it is the beneficiary |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035385 F - POLICE D'ASSURANCE CONTRE MALADIE GRAVE |
Income Tax Act - Section 15 - Subsection 15(1) |
corporate payment of premiums on critical illness policy for its sole shareholder generated taxable benefit |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035645 F - DEDUCTIBILITE DES INTERETS |
Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) - Subparagraph 20(1)(c)(i) |
Ludco and Singleton accepted/ description of how and why cash damming works |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035645 F - DEDUCTIBILITE DES INTERETS |
Income Tax Act - Section 16 - Subsection 16(1) |
interest imputed on a non-interest-bearing note issued at a discount consists of simple interest (annually deductible) and compound interest (deductible only at maturity) |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035655 F - CBR D'UNE POLICE D'ASSURANCE TRANSFEREE |
Income Tax Act - Section 148 - Subsection 148(9) - Adjusted Cost Basis |
ACB addition, for gratuitous transfer of corporation’s life insurance policy under s. 148(7) to the insured shareholder/employee, equals excess of policy ACB over its CSV |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035655 F - CBR D'UNE POLICE D'ASSURANCE TRANSFEREE |
Income Tax Act - Section 148 - Subsection 148(7) |
consequences of gratuitous transfer of corporation’s life insurance policy under s. 148(7) to the insured shareholder/employee |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035665 F - TRANSFER D'UNE POLICE D'ASSURANCE-VIE |
Income Tax Act - Section 148 - Subsection 148(7) |
transfer to shareholder at policy’s FMV is not a “distribution” |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035675 F - EVALUATION D'UNE POLICE D'ASSURANCE-VIE |
Income Tax Act - Section 70 - Subsection 70(5.3) |
unpaid policy loan to corporation is to be deducted in determining shares’ FMV if the accords with valuation principles |
2003-10-24 |
10 October 2003 Roundtable, 2003-0035685 F - DEDUCTION INTERETS MONTANT RAISON |
Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) |
reasonableness of interest rate assessed in light of comparable market rates and issue premiums |
2003-10-24 |
10 October 2003 Roundtable, 2003-0036865 F - TRANSFER DE POLICE D'ASSURANCE |
Income Tax Act - Section 15 - Subsection 15(1) |
benefit to shareholder on gratuitous transfer to it of critical illness policy entitled to refund of premiums on maturity |