| 2004-06-18 |
8 June 2004 Internal T.I. 2004-0067401I7 F - Dépenses d'une entreprise illégale |
Income Tax Act - Section 9 - Computation of Profit |
onus on taxpayer, who did not keep records, to displace the net worth assessment method results |
| General Concepts - Onus |
onus on taxpayer, who did not keep records, to displace the net worth assessment results, with documentation or other “acceptable evidence” |
| Income Tax Act - Section 20 - Subsection 20(16) |
terminal loss when illegal equipment was forfeited to the Crown by court order |
| Income Tax Act - Section 13 - Subsection 13(21) - Disposition of Property |
disposition when illegal equipment was forfeited to the Crown by court order, rather than when it was seized by the RCMP |
| Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees |
legal fees incurred to defend criminal charges for carrying on an illegal drug business were non-deductible |
| 12 May 2004 Internal T.I. 2004-0061071I7 F - Assistance sociale - Famille d'accueil |
Income Tax Act - Section 81 - Subsection 81(1) - Paragraph 81(1)(h) |
receipt of special allowance by the public institution under the CCTB program does not render the assistance to the individual taxable |
| 2004-06-11 |
28 May 2004 Internal T.I. 2004-0065101I7 F - Tenures à bail - Catégorie 13 et loyers |
Income Tax Act - Section 13 - Subsection 13(21) - Disposition of Property |
no disposition when premises were vacated (but not abandoned) |
| Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Start-Up and Liquidation Costs |
rent on premises continued to be deductible after they were vacated |
| Income Tax Regulations - Regulation 1102 - Subsection 1102(1) - Paragraph 1102(1)(c) |
vacated leased premises continued to qualify as Class 13 property |
| Income Tax Act - Section 13 - Subsection 13(7) - Paragraph 13(7)(a) |
no change of use when premises were vacated |
| 28 May 2004 External T.I. 2004-0065291E5 F - Corp. associated through a third corp.: 256(2) |
Income Tax Act - Section 256 - Subsection 256(2) |
“either of the other two corporations" in pre-2016 version interpreted as "both of the other corporations" |
| 31 May 2004 External T.I. 2004-0069681E5 F - Adjusted Cost Base of Real Property |
Income Tax Act - Section 54 - Adjusted Cost Base |
legal fees and settlement payment made in connection with disputed legacy of residence might be an addition to its ACB |
| 3 June 2004 Internal T.I. 2004-0072971I7 F - Taxable Benefit - Life Insurance Premiums |
Income Tax Act - Section 15 - Subsection 15(1) |
no benefit conferral where corporation pays premiums on policy on life of its shareholder of which it is the policyholder and beneficiary |
| 1 June 2004 Internal T.I. 2004-0078161I7 F - ITCs - Winding-up |
Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(e.3) |
ITCs incurred by sub only available to parent for post-wind-up years |
| Income Tax Act - Section 88 - Subsection 88(1) |
to be “wound up” there must generally be evidence that the sub will soon be dissolved |
| 18 May 2004 Internal T.I. 2004-0063351I7 F - Double déduction des intérêts et paragraphe 18(6) |
Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) - Subparagraph 20(1)(c)(i) |
double-dip structure does not preclude access to s. 20(1)(c) deduction |
| Income Tax Act - Section 18 - Subsection 18(6) |
thin cap rules not engaged by parent guarantee |
Email this Content