We have translated 10 more CRA severed letters

21 June 2022 - 10:31pm
Email this ContentEmail this Content

We have published translations of a CRA ruling and interpretation released last week and a further 8 translations of CRA interpretation released in November and October of 2004. Their descriptors and links appear below.

These are additions to our set of 2,109 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 2/3 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
2022-06-15 2021 Ruling 2021-0880641R3 F - Changes to existing monetization arrangements General Concepts - Transitional Provisions and Policies agreement novation likely would lose grandfathering
Income Tax Act - Section 80.6 - Subsection 80.6(1) substituting the index used in a monetization arrangement did not de-grandfather it from the synthetic disposition rules
30 March 2022 External T.I. 2017-0737181E5 F - Right to receive income from a trust Income Tax Act - Section 73 - Subsection 73(1.01) - Paragraph 73(1.01)(c) - Subparagraph 73(1.01)(c)(ii) clause suspending the right to income on bankruptcy would not satisfy s. 73(1.01)(c)(ii)
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
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
2004-11-05 25 October 2004 External T.I. 2004-0077031E5 F - Application de la division 20(1)e.2)(i)(B) Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e.2) - Subparagraph 20(1)(e.2)(i) - Clause 20(1)(e.2)(i)(B) condition in s. 20(1)(e.2)(i)(B) is satisfied for a year if only a portion of the interest is deductible in that year pursuant to s. 20(1)(c)(iv)
8 October 2004 APFF Roundtable Q. 8, 2004-0090801C6 F - Benefit to Shareholders Income Tax Act - Section 15 - Subsection 15(1) s. 15(1) could apply where corporate funds used to acquire non-participating preferred shares
2004-10-29 25 October 2004 External T.I. 2004-0086261E5 F - Ristournes Income Tax Act - Section 135 - Subsection 135(1.1) patronage dividends paid after March 22, 2004 are non-deductible even if reported before then
15 October 2004 External T.I. 2004-0068421E5 F - Bien de remplacement Income Tax Act - Section 44 - Subsection 44(5) replacement property can be acquired from a related person
Income Tax Act - Section 44 - Subsection 44(5) - Paragraph 44(5)(a.1) rental use is a similar use even if shift from residential to commercial use
18 October 2004 External T.I. 2004-0077151E5 F - Déduction pour gain en capital Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(14) - Paragraph 110.6(14)(f) - Subparagraph 110.6(14)(f)(ii) no requirement for the combined period of holding to be 24 months
Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Qualified Small Business Corporation Share - Paragraph (e) para. (e) effectively requires a combined 24-month holding period for s. 110.6(14)(f)(i) or (iii) transactions
8 October 2004 APFF Roundtable Q. 1, 2004-0085551C6 F - Application de la division 20(1)e.2)(i)(B) This repeats 2004-0077031E5 F
8 October 2004 APFF Roundtable Q. 4, 2004-0088411C6 F - Prêt à une société de personnes par une société Income Tax Act - Section 15 - Subsection 15(2) Gillette not followed: s. 15(2) applicable where a corporation makes a loan to a partnership equally owned by its 2 equal shareholders