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Bundle Date Translated severed letter Summaries under Summary descriptor 2009-05-08 30 April 2009 External T.I. 2008-0296721E5 F- Late filed election 85(7)- Amending transactions Income Tax Act- Section 85- Subsection 85(1) CRA will not accept s. 85 election based on self-help rectification to retroactively issue shares at transfer time General Concepts- Rectification & Rescission CRA will not anticipate a judicial rectification 2009-04-24 15 April 2009 Internal T.I. 2008-0301171I7 F- 7(3)b) vs 143.3(3) Income Tax Act- Section 143.3- Subsection 143.3(3)- Paragraph 143.3(3)(b) s. 143.3(3)(b) inapplicable given prior application of s. 7(3)(b) Income Tax Act- Section 7- Subsection 7(3)- Paragraph 7(3)(b) recognition of compensation expense under GAAP on granting and then exercise of conventional Pubco options precluded by s. 7(3)(b) and notwithstanding Alcatel 2009-04-17 14 April 2009 External T.I. 2009-0307791E5 F- Allocation de retraite et congé de maladie Income Tax Act- Section 5- Subsection 5(1) payment of accumulated sick leave on termination was employment income given pattern of annual payouts Income Tax Act- Section 248- Subsection 248(1)- Retiring Allowance payout of accumulated sick leave on employment termination can be a retiring allowance – but not where it has been annually distributed 31 March 2009 External T.I. 2009-0310821E5 F- Associated Corporations- 256 Income Tax Act- Section 256- Subsection 256(1)- Paragraph 256(1)(d) Mr. ...

This is an error – and has been such since 2013, when s. 120.2(3)(b) was amended to exclude TOSI from the downward adjustments to the adjusted Part I ordinary tax liability for the year that is used in computing the additional tax (although, of course, it was only recently that the scope of TOSI was increased). After acknowledging this error, CRA stated: The CRA does not have a general administrative policy on the implications of a correction to a CRA form that may result in a reassessment for prior taxation years. … With respect to the amendment to Form T691, the CRA will correct the application of subsections 120.2(1) and 120.2(3), but will not issue reassessments for taxation years prior to 2021 changing the amount of tax payable that relates to that correction. ...

These are additions to our set of 1,950 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 16 ¾ years of releases of such items by the Directorate. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2005-05-20 25 April 2005 Internal T.I. 2004-0108301I7 F- Coût d'une automobile Income Tax Act- Section 6- Subsection 6(2)- Element C cost of automobile acquired pursuant to exercise of bargain purchase option increased under s. 49(3) by portion of each preceding lease payment treated as an option premium Income Tax Act- Section 49- Subsection 49(3) each car lease payment contained an embedded premium referable to the bargain purchase option, which was added under s. 49(3) 2005-05-13 18 April 2005 External T.I. 2004-0093821E5 F- Fiducie créée par testament Income Tax Act- Section 70- Subsection 70(6)- Paragraph 70(6)(b) spouse electing not to receive income, so that it is added to corpus, does not taint spouse trust status Income Tax Act- 101-110- Section 108- Subsection 108(1)- Testamentary Trust- Paragraph (c)- Subparagraph (c)(i) beneficiary electing not to receive income before it becomes payable does not taint the trust (cf. renouncing income already payable) 13 April 2005 Internal T.I. 2004-0109071I7 F- Partie XIII et revenus locatifs Income Tax Act- Section 216- Subsection 216(4) services provided by property manager to tenant were sufficiently limited to permit making the s. 216(4) election Income Tax Act- Section 215- Subsection 215(3) property manager required to withhold on the gross rents collected absent a s. 216(4) election 18 April 2005 External T.I. 2004-0096231E5 F- Déduction de l'impôt payable- emploi à l'étranger Income Tax Act- Section 122.3- Subsection 122.3(1)- Paragraph 122.3(1)(a) severance allowance not employment income until year of receipt 3 May 2005 Internal T.I. 2005-0120021I7 F- Pension de retraite provenant de la France Treaties- Income Tax Conventions- Article 18 pension exemption under French Treaty continues to apply in the hands of surviving spouse 4 May 2005 External T.I. 2005-0120271E5 F- Change of Control- CDA & RDTOH Income Tax Act- Section 256- Subsection 256(7)- Paragraph 256(7)(a)- Subparagraph 256(7)(a)(i)- Clause 256(7)(a)(i)(A) s. 256(7)(a)(i)(A) applied where taxpayer acquired shares of CCPC from his sister 22 March 2005 External T.I. 2004-0098591E5 F- Application de l'alinéa 212(9)d) proposé Income Tax Act- Section 212- Subsection 212(9)- Paragraph 212(9)(d) extension to provincial regulatory authority under review 11 April 2005 External T.I. 2004-0091721E5 F- Usufruit d'un bien immeuble situé en France Income Tax Act- Section 248- Subsection 248(3)- Paragraph 248(3)(a) usufructuary of rental property received the rental income under s. 108(5)(a) as deemed trust income beneficiary ...

These are additions to our set of 1,958 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 16 ¾ years of releases of such items by the Directorate. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2005-05-06 20 April 2005 External T.I. 2005-0110421E5 F- ACB BUMP on an AMALGAMATION Income Tax Act- Section 88- Subsection 88(1)- Paragraph 88(1)(c)- Subparagraph 88(1)(c)(iii) land included in timber limit is ineligible property Income Tax Act- Section 13- Subsection 13(21)- Depreciable Property land included in timber limit is depreciable property 2 May 2005 Internal T.I. 2005-0113941I7 F- Reassessment in the Extended Reassessment Period Income Tax Act- Section 152- Subsection 152(4)- Paragraph 152(4)(b)- Subparagraph 152(4)(b)(i) notwithstanding Agazarian, CRA may allow a consequential reallocation of the SBD where it reassesses under s. 152(4)(b)(i) to reduce a loss carryback (and will also adjust M&P credit) 2 May 2005 Internal T.I. 2005-0119971I7 F- CDA- Excessive Election & Late Filed Election Income Tax Act- Section 184- Subsection 184(3) where the corporation failed to file s. 83(2) election, CRA should assess Pt. ...

Are contingent beneficiaries treated as beneficiaries for purposes of the specified Canadian trust definition – for example, a trust specifies various Canadian citizens as beneficiaries, but the trustees are accorded the discretion to expand the beneficiaries to any other family members, some of whom are not citizens or permanent residents? Will CRA apply its position under the ITA that partnership property is not owned by the partners – and similarly where a non-citizen/non-permanent resident is the beneficiary of a trust whose corpus includes shares of a mooted specified Canadian corporation? ...

These are additions to our set of 2,438 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 19 ¾ years of releases of such items by the Directorate. ... Income Tax Act- Section 207.1- Subsection 207.1(1) no discretion in CCRA to waive the tax under s. 207.1 2003-07-08 7 July 2003 External T.I. 2001-0091415 F- Income & Losses from Bus. or Prop. ...

These are additions to our set of 2,451 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 19 ¾ years of releases of such items by the Directorate. ... Income Tax Act- Section 85- Subsection 85(5) the capital cost is not reduced by s. 85(5) for non-CCA/recapture purposes Income Tax Application Rules- Subsection 20(1) 2 detailed examples of the application of ITAR 20(1) 10 June 2003 External T.I. 2003-0018915 F- Attribution- Transfers & Loans to Corp. ...

These are additions to our set of 2,591 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 20 ¾ years of releases of such items by the Directorate. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2023-09-20 5 July 2023 External T.I. 2022-0954271E5 F- Retention of books and records Income Tax Regulations- Regulation 5800- Subsection 5800(1)- Paragraph 5800(1)(a)- Subparagraph 5800(1)(a)(iv) generally only the GL rather than ancillary journals or back-up are subject to the extended corporate accounting-record retention period Income Tax Regulations- Regulation 5800- Subsection 5800(1)- Paragraph 5800(1)(a)- Subparagraph 5800(1)(a)(v) special contract is one containing an unusual provision 2002-12-06 18 December 2002 Internal T.I. 2002-0164817 F- HONORAIRES POUR SERVICES DE MANDATAIRE Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Income-Producing Purpose fees paid to a management company whose employees were employed by the professional recipient may not be incurred for an income-producing purpose Income Tax Act- Section 67 CCRA policy on cost-plus-15% management companies of a professional inapplicable where it is providing agency services 2002-11-22 6 December 2002 External T.I. 2002-0152085 F- PERSONNE A CHARGE TRANSFER D'UN MONTANT Income Tax Act- Section 118.3- Subsection 118.3(3) credit transferee need not be the sole provider 5 December 2002 External T.I. 2002-0172315 F- Contingent Right to Acquire Shares Income Tax Act- Section 251- Subsection 251(5)- Paragraph 251(5)(b) ss. 251(5)(b) and 256(1.4) applicable where the 3 equal shareholders agree that they must purchase the shares of anyone committing fraud – but not if redemption requirement 2002-11-08 25 November 2002 External T.I. 2002-0126825 F- AVANTAGE CONFERE A UN EMPLOYE Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) reimbursing employee-tenants for time spent in upgrading their units beyond normal rental industry practice would generate a taxable benefit 4 December 2002 External T.I. 2002-0139345 F- REVENUS D'INTERETS Income Tax Act- Section 118- Subsection 118(1)- Paragraph 118(1)(b) income of dependant child includes interest income generated from tax-free receipts 2 December 2002 External T.I. 2002-0151325 F- FRAIS DEPLACEMENT Income Tax Act- Section 8- Subsection 8(1)- Paragraph 8(1)(h.1) tacit requirement could not be invoked where the collective agreement explicitly assigned responsibility for travel expenses to the employer (who refused to pay) ...

In short … subsection 247(2), which was broadly worded to embody the arm’s length principle, was meant to apply to all cross-border transactions, arrangements or events, including financial transactions, between non-arm’s length persons or partnerships, unless a specific exclusion applies. ... The principle also cuts both ways – presumably, CRA would not accept that if a specific provision limits or prohibits deductibility, the denied expenses nonetheless can be deducted under a general provision (see Symes). ...

These are additions to our set of 2,682 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 21 ½ years of releases of such items by the Directorate. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2002-06-21 21 June 2002 External T.I. 2001-0107705 F- Partie XIII et logiciels d'ordinateurs Income Tax Act- Section 212- Subsection 212(1)- Paragraph 212(1)(d) exemption for shrink-wrapped software not applicable where it is downloaded Income Tax Act- Section 125- Subsection 125(7)- Specified Investment Business question of fact whether software developer generating royalties has a specified investment business 4 June 2002 External T.I. 2002-0127515 F- Règles de réalisation de 21 ans Income Tax Act- 101-110- Section 104- Subsection 104(4)- Paragraph 104(4)(b)- Subparagraph 104(4)(b)(ii) reduction in number of trustees in a purported new trust did not necessarily create a new trust Income Tax Act- 101-110- Section 104- Subsection 104(5.8) potential application of GAAR where transfer to a new trust before the effective date of s. 104(5.8) 25 June 2002 Internal T.I. 2002-0130177 F- DEBENTURE CONVERTIBLE see also 2002-0118827 F Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(f) amount paid by corporation on conversion of convertible debentures was the stated capital of the issued shares, being the debentures’ face amount, so that no s. 20(1)(f) deduction General Concepts- Payment & Receipt Teleglobe applied to find that amount paid by corporation on conversion of convertible debentures was the shares’ stated capital Income Tax Act- Section 143.3- Subsection 143.3(3)- Paragraph 143.3(3)(a) Teleglobe applied to pre-s. 143.3(3)(a)(ii) transaction 25 June 2002 External T.I. 2002-0145055 F- ACCORD DE SEPARATION TRANSFERT D'UN REER Income Tax Act- Section 146- Subsection 146(16)- Paragraph 146(16)(b) obligation to transfer to separated spouse’s RRSP can arise only after amendment of separation agreement 2002-06-07 20 June 2002 External T.I. 2002-0145075 F- REER PLACEMENT ADMISSIBLE Income Tax Act- Section 262 addition of TSX Venture Exchange 25 June 2002 External T.I. 2002-0143675 F- CONGE A TRAITEMENT DIFFERE ET RETRAITE Income Tax Regulations- Regulation 6801- Paragraph 6801(a)- Subparagraph 6801(1)(a)(v) cannot use sick leave and vacation leave credits ...