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2004-01-30 |
7 January 2004 External T.I. 2003-0032501E5 F - Transitional Rules/Allègement transitoire |
General Concepts - Transitional Provisions and Policies |
taxpayer could choose whether a disposition came out of a pool of grandfathered or non-grandfathered shares |
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2004-01-30 |
19 January 2004 Internal T.I. 2003-0045911I7 F - Camionnette et définition de automobile |
Income Tax Act - Section 13 - Subsection 13(5) - Paragraph 13(5)(a) |
when truck is transferred from Class 10.1 to 10, the capital cost as originally limited under s. 13(7)(g) is used for Class 10 purposes |
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2004-01-30 |
19 January 2004 Internal T.I. 2003-0045911I7 F - Camionnette et définition de automobile |
Income Tax Act - Section 248 - Subsection 248(1) - Automobile |
application of s. 13(5) where extended-cab pick-up truck ceased to be an automobile |
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2004-01-30 |
19 January 2004 Internal T.I. 2003-0045911I7 F - Camionnette et définition de automobile |
Income Tax Act - Section 13 - Subsection 13(7) - Paragraph 13(7)(g) |
s. 13(7)(g) limitation was preserved when pick-up truck transferred from Class 10.1 to 10 |
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2004-01-30 |
22 January 2004 Internal T.I. 2003-0047561I7 F - Effet de la délégation puis de la subrogation |
Income Tax Act - Section 42 |
payment under covenant of vendor regarding mortgage assumed by purchaser, who defaulted on its assumed obligation, did not generate a s. 42 loss |
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2004-01-30 |
22 January 2004 Internal T.I. 2003-0047561I7 F - Effet de la délégation puis de la subrogation |
Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(g) - Subparagraph 40(2)(g)(ii) |
s. 40(2)(g)(ii) did not apply to a debt claim acquired by subrogation against a defaulted debtor since the claim was interest-bearing |
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2004-01-30 |
28 January 2004 Internal T.I. 2003-0047701I7 F - Télétravail et indien inscrit |
Other Legislation/Constitution - Federal - Indian Act - Section 87 |
Indian teleworker exempted re duties performed on Reserve |
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2004-01-30 |
26 January 2004 External T.I. 2003 - 0047961E5 F - Part IV Circularity |
Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(b) |
waiver of dividend refund does not solve the Pt. IV circularity issue, which is not serious |
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2004-01-30 |
22 January 2004 Internal T.I. 2003-0052121I7 F - Régime d'éducation permanente - période de rembour |
Income Tax Act - Section 146.02 - Subsection 146.02(1) - Repayment Period |
actual date of repayment is not taken into account |
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2004-01-30 |
22 January 2004 Internal T.I. 2003-0054781I7 F - Reçu de don pour une partie de la valeur |
Income Tax Act - Section 248 - Subsection 248(32) |
de minimis threshold policy inapplicable where meal was part of what the ticket to the event was paid for |
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2004-01-23 |
14 January 2004 External T.I. 2003-0026011E5 F - Contrat à terme sur indice boursier |
Income Tax Act - Section 54 - Adjusted Cost Base |
unrealized gains or losses on stock index futures contracts not included in the ACB of such property |
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2004-01-23 |
14 January 2004 External T.I. 2003-0026011E5 F - Contrat à terme sur indice boursier |
Income Tax Act - Section 233.3 - Subsection 233.3(1) - Specified Foreign Property - Paragraph (a) |
foreign currency "variable margin" accounts held by registered plans with dealers are foreign property |
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2004-01-23 |
14 January 2004 External T.I. 2003-0029571E5 F - Attribution - société de personnes |
Income Tax Act - Section 103 - Subsection 103(1.1) |
allocation of farming partnership income did not appear reasonable |
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2004-01-23 |
14 January 2004 External T.I. 2003-0029571E5 F - Attribution - société de personnes |
Income Tax Act - Section 74.1 - Subsection 74.1(1) |
s. 74.1(1) would not apply where farming income is transferred to spouse where she subscribed a nominal amount for farm partnership interest |
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2004-01-23 |
14 January 2004 External T.I. 2003-0046131E5 F - Convention de retraite - dépositaire |
Income Tax Act - Section 207.6 - Subsection 207.6(2) |
employer is deemed custodian under s. 207.6(2) |
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2004-01-23 |
14 January 2004 External T.I. 2003-0046131E5 F - Convention de retraite - dépositaire |
Income Tax Act - Section 248 - Subsection 248(1) - Retirement Compensation Arrangement |
life insurance company can be a custodian |
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2004-01-23 |
16 January 2004 External T.I. 2003-0046491E5 F - Allocation de retraite |
Income Tax Act - Section 60 - Paragraph 60(j.1) |
severance pay was not retiring allowance |
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2004-01-23 |
14 January 2004 Internal T.I. 2003-0049531I7 F - Valeur de rachat - police d'assurance |
Income Tax Act - Section 181 - Subsection 181(1) - Long-Term Debt - Paragraph (b) |
insurance policy is not long-term debt of the insurer, although prepaid premium deposits might be |
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2004-01-23 |
14 January 2004 Internal T.I. 2004-0054711I7 F - Choix en vertu du paragraphe 12(2.2) |
Income Tax Act - Section 12 - Subsection 12(2.2) |
s. 12(1)(x) assistance included in Year 1 income, then reversed by reassessment when s. 12(2.2) election is made in Year 2 return respecting the related Year 2 expenditure |
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2004-01-16 |
9 January 2004 Internal T.I. 2003-0031601I7 F - Air Miles :employés/employeurs |
Income Tax Act - Section 69 - Subsection 69(4) |
s. 69(4) applicable where corporation acquires property with its Air Miles and distributes the property to a shareholder (but not in the case of an arm’s length employee) |
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2004-01-16 |
9 January 2004 Internal T.I. 2003-0031601I7 F - Air Miles :employés/employeurs |
Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) |
business air miles assumed to be used before personal air miles |
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2004-01-16 |
8 January 2004 External T.I. 2003-0040575 F - Associated Corporations |
Income Tax Act - Section 256 - Subsection 256(6) - Paragraph 256(6)(a) |
cessation of lender’s right to shares on occurrence of reasonably-expected event must be expressly stated in loan terms |
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2004-01-16 |
8 January 2004 External T.I. 2003-0040575 F - Associated Corporations |
Income Tax Act - Section 256 - Subsection 256(1.4) - Paragraph 256(1.4)(a) |
lender’s right to acquire 99% of shares in event of insolvency engaged s. 256(1.4)(a) |
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2004-01-16 |
8 January 2004 External T.I. 2003-0040575 F - Associated Corporations |
Income Tax Act - Section 256 - Subsection 256(1.2) - Paragraph 256(1.2)(c) |
rule in s. 256(1.2)(c) references de jure control, not de facto control |
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2004-01-16 |
9 January 2004 External T.I. 2003-0047341E5 F - Coût indiqué - Biens étrangers |
Income Tax Act - Section 54 - Adjusted Cost Base |
distribution of shares out of MFT and exchange for new MFT units would reset the ACB/ cost amount |
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2004-01-16 |
7 January 2004 Internal T.I. 2003-0038217 F - gain en capital / résidence principale |
Income Tax Act - Section 3 - Paragraph 3(a) - Business Source/Reasonable Expectation of Profit |
rental of second floor of house to son at cost was not a business |
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2004-01-16 |
7 January 2004 Internal T.I. 2003-0038217 F - gain en capital / résidence principale |
Income Tax Act - Section 45 - Subsection 45(1) - Paragraph 45(1)(c) |
no partial change of use of residence where rental operation was not a business, or the business was ancillary |
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2004-01-16 |
7 January 2004 Internal T.I. 2003-0046717 F - MODIFICATION DE PBR INSCRIT SUR T664 |
Income Tax Act - Section 220 - Subsection 220(3.2) |
correction to ACB shown on s. 110.6(19) election did not constitute an amendment to the election |
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2004-01-16 |
7 January 2004 Internal T.I. 2003-0046717 F - MODIFICATION DE PBR INSCRIT SUR T664 |
Income Tax Act - Section 110.6 - Subsection 110.6(27) |
correction of ACB shown on s. 110.6(19) election not an election amendment that must comply with s. 110.6(27) |
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2004-01-16 |
9 January 2004 External T.I. 2003-0049195 F - Winding Up or a Contractor Subco |
Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(e.1) |
s. 88(1)(e.1) would permit parent to step into shoes of sub re s. 12(1)(a) inclusion and s. 20(1)(m) reserve |
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2004-01-16 |
9 January 2004 External T.I. 2003-0049195 F - Winding Up or a Contractor Subco |
Income Tax Act - Section 9 - Timing |
exclusion of contract holdbacks and unapproved invoices from construction contractor’s income is unaffected on s. 88(1) wind-up and flows through to parent |
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2004-01-16 |
9 January 2004 External T.I. 2003-0049195 F - Winding Up or a Contractor Subco |
Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(m) |
deferred revenue of construction contractor would not be triggered on its s. 88(1) wind-up and parent would be put to claiming any available new s. 20(1)(m) reserve |
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2004-01-09 |
8 December 2003 Internal T.I. 2003-0042537 F - CIEE & SRAS |
Income Tax Act - Section 122.3 - Subsection 122.3(1) |
lay-off due to SARS did not qualify as an absence |
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2004-01-09 |
18 December 2003 Internal T.I. 2003-0044007 F - OPTION D'ACHAT D'ACTIONS RACHETEES |
Income Tax Act - Section 7 - Subsection 7(1) - Paragraph 7(1)(b) |
full option surrender consideration included under s. 7(1)(b) even though a portion thereof never paid |
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2004-01-09 |
18 December 2003 Internal T.I. 2003-0044007 F - OPTION D'ACHAT D'ACTIONS RACHETEES |
Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(g) - Subparagraph 40(2)(g)(ii) |
unpaid and defaulted balance of stock option surrender consideration was not property used in a property or business source |
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2004-01-09 |
18 December 2003 Internal T.I. 2003-0044007 F - OPTION D'ACHAT D'ACTIONS RACHETEES |
Income Tax Act - Section 54 - Capital Property |
employee stock option surrender proceeds were not from the disposition of capital property |
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2004-01-09 |
16 December 2003 Internal T.I. 2003-0046167 F - Section 50- Shares of Insolvent Corporation50(1) |
Income Tax Act - Section 50 - Subsection 50(1) - Paragraph 50(1)(b) - Subparagraph 50(1)(b)(iii) |
corporation not insolvent if affiliates intend to pay its creditors, and its shares have value if it has non-capital losses |
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2004-01-09 |
16 December 2003 Internal T.I. 2003-0046167 F - Section 50- Shares of Insolvent Corporation50(1) |
Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(b) |
sale of Lossco with no assets but non-capital losses for nil consideration to another subsidiary generated a gain under s. 69(1)(b) |
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2004-01-09 |
16 December 2003 Internal T.I. 2003-0046167 F - Section 50- Shares of Insolvent Corporation50(1) |
General Concepts - Fair Market Value - Shares |
shares of corporation that had ceased business and had no assets but had non-capital losses had a significant value |
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2004-01-09 |
17 December 2003 Internal T.I. 2003-0047367 F - Benefit Conferred on Non-arm's Length Person |
Income Tax Act - Section 84 - Subsection 84(2) |
s. 84(2) inapplicable on sale by defunct corporation of its assets at an undervalue to one of its shareholders |
