We have translated 8 more CRA interpretations
6 June 2022 - 10:58pm
Email this ContentWe have published a further 8 translations of CRA interpretation released in December and November of 2004. Their descriptors and links appear below.
These are additions to our set of 2,063 full-text translations of French-language Technical Interpretation and Roundtable items (plus some ruling letters) of the Income Tax Rulings Directorate, which covers all of the last 17 ½ years of releases of such items by the Directorate. These translations are subject to our paywall (applicable after the 5th of each month).
| Bundle Date | Translated severed letter | Summaries under | Summary descriptor |
|---|---|---|---|
| 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 |
| Income Tax Act - Section 44.1 - Subsection 44.1(8) | pre-condition of carrying on business not satisfied / general overview provided | ||
| 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 | ||
| 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 | |
| 28 April 2004 Internal T.I. 2004-0066991I7 F - Paiement incitatif | Income Tax Act - Section 248 - Subsection 248(1) - Property | property “includes practically any type of economic interest” | |
| Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | per MacIntyre, life insurance premiums are not deductible from business income | ||
| Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) | incentive payments received from broker to purchase an exempt life insurance policy were received “in the course of earning income from … property” (the policy) | ||
| 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) |
| 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) | ||
| 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) | ||
| 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 | |
| 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 | ||
| 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 | |
| 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 | ||
| Income Tax Act - Section 46 - Subsection 46(3) | selling off personal collection one-by-one on auction site did not engage s. 46(3) | ||
| 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 | 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 |
| 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 |