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These are additions to our set of 3,139 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 24 ¼ years of releases of such items by the Directorate. ...

These are additions to our set of 3,159 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 24 ½ years of releases of such items by the Directorate. ...

T.I. 2015-0608051E5 F- Emigration of a trust Income Tax Act- Section 2- Subsection 2(1) Fundy Settlement test may differ from residence of trustees Income Tax Act- Section 220- Subsection 220(4.5) emigrating trust can elect to defer payment of the exit tax 2016-11-30 7 October 2016 APFF Roundtable Q. 1A, 2016-0652951C6 F- Penalty late filed election-subsection 85(8) Income Tax Act- Section 85- Subsection 85(8) penalty calculated on a global basis 7 October 2016 APFF Roundtable Q. 1B, 2016-0652761C6 F- T4A filing Income Tax Act- Section 153- Subsection 153(1)- Paragraph 153(1)(g) limited exceptions to T4A reporting Income Tax Regulations- Regulation 200- Subsection 200(2) no expanded relief from the broad T4A reporting requirements 7 October 2016 APFF Roundtable Q. 1C, 2016-0652771C6 F- T106 and multiple year ends Income Tax Act- Section 231.1- Subsection 233.1(2) acquisition of control generally will not generate additional T106 filings 7 October 2016 APFF Roundtable Q. 2, 2016-0652841C6 F- Changement partiel d’usage- immeuble locatif et résidentiel Income Tax Act- Section 45- Subsection 45(1)- Paragraph 45(1)(c) switch between which triplex units used for personal/family rental or 3rd-party rental did not trigger change of use Income Tax Act- Section 54- Principal Residence triplex contained separate housing units Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(b) on sale of triplex, individual can claim exemption only for years in which particular units were used personally or by children 7 October 2016 APFF Roundtable Q. 3, 2016-0652851C6 F- Annulation d'une promesse d'achat sur une maison Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(b) damages for breach of covenant to purchase principal residence not covered Income Tax Act- Section 39- Subsection 39(1)- Paragraph 39(1)(b) no capital loss for damages paid for breach of purchase obligation 7 October 2016 APFF Roundtable Q. 4, 2016-0652801C6 F- Salary Deferral Arrangement Income Tax Act- Section 248- Subsection 248(1)- Salary Deferral Arrangements- Paragraph (k) no backdating as of the year end 7 October 2016 APFF Roundtable Q. 5, 2016-0652861C6 F- Véhicules électriques- rabais Income Tax Act- Section 13- Subsection 13(21)- Undepreciated Capital Cost- A installation cost included Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(e) use of manufacturer’s electricity-use standard Income Tax Act- Section 13- Subsection 13(21)- Undepreciated Capital Cost- A cost not reduced under general principles by government assistance Income Tax Act- Section 13- Subsection 13(7)- Paragraph 13(7)(g) vehicle assistance paid indirectly (to dealer) covered Income Tax Act- Section 6- Subsection 6(2) Quebec government assistance does not reduce cost of purchased vehicle, but treated as compensation to dealer-lessor prorated over term of lease 7 October 2016 APFF Roundtable Q. 6, 2016-0652821C6 F- Graduated Rate Estate- Total Charitable Gifts Income Tax Act- Section 84.1- Subsection 84.1(1) Poulin is consistent with CRA's previous statements on employee buycos Income Tax Act- Section 251- Subsection 251(1)- Paragraph 251(1)(c) touchstones for accommodation party Income Tax Act- Section 118.1- Subsection 118.1(1)- Total Charitable Gifts- Paragraph (c)- Subparagraph (c)(ii) right of GREs to carry forward donations for five years 7 October 2016 APFF Roundtable Q. 7, 2016-0652971C6 F- Paragraph 251(5)(b) and subsection 256(1.4) Income Tax Act- Section 251- Subsection 251(5)- Paragraph 251(5)(b)- Subparagraph 251(5)(b)(i) right to find 3rd party purchaser Income Tax Act- Section 251- Subsection 251(5)- Paragraph 251(5)(b)- Subparagraph 251(5)(b)(ii) may include right arising after triggering of event over which no control Income Tax Act- Section 256- Subsection 256(1.4)- Paragraph 256(1.4)(a) does not include right to find a 3rd party purchaser for another’s shares 7 October 2016 APFF Roundtable Q. 9, 2016-0652921C6 F- Résidence- actif utilisé / Residence- asset used Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1)- Share of the Capital Stock of a Family Farm or Fishing Corporation primary employee use qualifies farm house Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1)- Qualified Small Business Corporation Share farm house must be more than 50% used by farm employees to qualify 7 October 2016 APFF Roundtable Q. 10, 2016-0652931C6 F- Bien agricole admissible-saisine par succession General Concepts- Ownership estate owns its property Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1.3)- Paragraph 110.6(1.3)(a)- Subparagraph 110.6(1.3)(a)(i) 3 owners if farm passes from father to estate to son 7 October 2016 APFF Roundtable Q. 11, 2016-0652941C6 F- Contrat de location / Capital lease Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1)- Qualified Small Business Corporation Share stipulated rights of lessee should be valued for QSBCS purposes Income Tax Act- Section 248- Subsection 248(1)- Small Business Corporation FMV of rights under a lease must be included 7 October 2016 APFF Roundtable Q. 12, 2016-0655911C6 F- Partial Leveraged Buy-Out and Monetization of ACB Income Tax Act- Section 84- Subsection 84(2) amalgamation does not cause reorg etc. of business 7 October 2016 APFF Roundtable Q. 13, 2016-0652981C6 F- Allocation of the safe income on hand Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) business income earned by a corporation following a subscription for a separate class of discretionary dividend shares could be allocated to those shares 7 October 2016 APFF Roundtable Q. 14, 2016-0655921C6 F- Safe income on hand- Preferred shares Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) fixed dividends on full-ACB prefs did not come out of SIOH Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(b) whether dividends paid on non-participating prefs engage s. 55(2) is a question of fact 7 October 2016 APFF Roundtable Q. 15, 2016-0652991C6 F- Application of subsection 55(2)- holding period Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) stock dividend of nominal value discretionary shares to shift value to an affiliate 7 October 2016 APFF Roundtable Q. 16, 2016-0653001C6 F- Safe income and freeze preferred shares Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) application of safe income on hand to dividends paid on estate freeze prefs 7 October 2016 APFF Roundtable Q. 17, 2016-0652781C6 F- Functional currency and acquisition of control Income Tax Act- Section 261- Subsection 261(9)- Paragraph 261(9)(a) exclusion of pre-transition debts from s. 111(4) Income Tax Act- Section 111- Subsection 111(4)- Paragraph 111(4)(e) FX gains or losses on pre-transition debts not affected Income Tax Act- Section 40- Subsection 40(10) exclusion of pre-transition debts 7 October 2016 APFF Roundtable Q. 18, 2016-0652791C6 F- Taxable Canadian property and Part XIII tax Income Tax Act- Section 119 property must have been TCP continuously from the time of emigration 7 October 2016 APFF Roundtable Q. 19, 2016-0655841C6 F- Reimbursement of attributed income Income Tax Act- Section 69- Subsection 69(1)- Paragraph 69(1)(b) excess disposition proceeds not required to be repaid Income Tax Act- Section 74.1- Subsection 74.1(1) no domestic secondary adjustment doctrine Income Tax Act- 101-110- Section 103- Subsection 103(1) no obligation to repay income reallocated to other partner 7 October 2016 APFF Roundtable Q. 20, 2016-0655831C6 F- Employee Buycos and the Poulin Case Income Tax Act- Section 84.1- Subsection 84.1(1) Poulin accepted Income Tax Act- Section 251- Subsection 251(1)- Paragraph 251(1)(c) Poulin distinction between accommodation parties and tax advantaged arm’s length dealings accepted 7 October 2016 APFF Roundtable Q. 21, 2016-0655901C6 F- Section 7 and bonus paid in share Income Tax Act- Section 7- Subsection 7(1.1) 7(1.1) applicable to non-discretionary bonus payable in shares Income Tax Act- Section 84- Subsection 84(1)- Paragraph 84(1)(b) PUC of shares issued in satisfaction of bonus equal to bonus amount Income Tax Act- Section 7- Subsection 7(3)- Paragraph 7(3)(a) s. 7 can govern bonuses paid in shares where discretion ceases prior to the issuance 7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 1, 2016-0651771C6 F- Critical Illness Insurance Income Tax Act- Section 15- Subsection 15(1) benefit on gratuitous transfer of critical illness policy by corporation to its shareholder 7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 2, 2016-0651711C6 F- RRIF, Transfer of designated benefit Income Tax Act- Section 146.3- Subsection 146.3(6.11) computation of eligible amount following year of death Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(g)- Subparagraph 40(2)(g)(iii) capital loss recognition on land underlying duplex used 40% personally Income Tax Regulations- Regulation 1102- Regulation 1102(2) Reg. 1102(2) deems building to be separate from land and does not bifurcate the land Income Tax Act- Section 54- Personal-Use Property land underlying duplex used 40% personally is not personal-use property 7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 3, 2016-0651761C6 F- Transfer of a Life Insurance Policy Income Tax Act- Section 148- Subsection 148(7)- Paragraph 148(7)(a) s. 148(7)(a) prevails over s. 69(1)(b) and 52(2), but not s. 69(5) 7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 4, 2016-0651791C6 F- Choix 45(2) et (3)- immeuble à logements Income Tax Act- Section 45- Subsection 45(3) invalidity of s. 45(3) elections on duplex units applied only for changes of use after February 21, 2012 ...

., as dividend income 9 October 2015 APFF Roundtable Q. 18, 2015-0595821C6 F- Ss. 96(1.01) and s. 103 Income Tax Act- 101-110- Section 103- Subsection 103(1.1) s. 103 can be applied to reallocate income to a deemed s. 96(1.01) partner 9 October 2015 APFF Roundtable Q. 19, 2015-0595621C6 F- Cash pooling and subsection 15(2) Income Tax Act- Section 15- Subsection 15(2.6) permitted use of FIFO to determine if debt repayments satisfy s. 15(2.6) 9 October 2015 APFF Roundtable Q. 20, 2015-0595681C6 F- Avantages imposables / dépenses d’entreprise Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) employer-provided parties, bike stands and internal recreation areas generally not taxable benefits 9 October 2015 APFF Roundtable Q. 21, 2015-0598291C6 F- Filing deadline for various forms Income Tax Act- Section 85- Subsection 85(1) where a return filing deadline falls on a Saturday, the deadline for the T2057 also is extended to the Monday Statutory Interpretation- Interpretation Act- Section 26 where a return filing deadline falls on a Saturday, the deadline for related forms also is extended to the Monday 9 October 2015 APFF Roundtable Q. 22, 2015-0598301C6 F- Extension of time to file Income Tax Act- Section 165- Subsection 165(1) extension of individuals' return deadline also extends objection deadline 9 October 2015 APFF Roundtable Q. 23, 2015-0598311C6 F- Excessive eligible dividend designation Income Tax Act- Section 185.1- Subsection 185.1(2) filing of s. 185.1(2) election in (non-prescribed) manner 9 October 2015 APFF Roundtable Q. 24, 2015-0598261C6 F- Calcul du revenu de placement total- annexe 7 Income Tax Act- Section 129- Subsection 129(4)- Aggregate Investment Income allocation of investment counselling fees as between interest and dividends 9 October 2015 APFF Roundtable Q. 25, 2015-0598321C6 F- Omission of deducting a dividend under 112(1) Income Tax Act- Section 152- Subsection 152(1) IC 75-7R3 still applies to requests for refunds for errors made in already-filed returns ...

Summary Descriptor 29 November 2016 CTF Roundtable Q. 1, 2016-0669301C6- GAAR & 21-year rule planning Income Tax Act- Section 245- Subsection 245(4) avoidance of 21-year rule through 107(2) transfer to corporate beneficiary Income Tax Act- 101-110- Section 104- Subsection 104(5.8) making a s. 107(2) distribution to a corporate beneficiary held by a new trust is an abusive circumvention of the s. 104(4) 21-year rule 29 November 2016 CTF Roundtable Q. 2, 2016-0669651C6- Computation of safe income Income Tax Act- Section 55- Subsection 55(3.1)- Paragraph 55(3.1)(c) moratorium on providing interpretations on safe income allocation to discretionary dividend shares 29 November 2016 CTF Roundtable Q. 3, 2016-0670201C6- Agnico-Eagle Mines Decision Income Tax Act- Section 143.3- Subsection 143.3(3)- Paragraph 143.3(3)(b) application to coversion of debenture Income Tax Act- Section 39- Subsection 39(2) Agnico-Eagle analysis rejected 29 November 2016 CTF Roundtable Q. 4, 2016-0671491C6- 55(2) and Part IV Tax Income Tax Act- Section 55- Subsection 55(2) repeal of the s. 55(2) exemption, for dividends for which the Part IV tax is refunded on on-payment to an individual shareholder, busts integration Income Tax Act- Section 89- Subsection 89(1)- Capital Dividend Account- Paragraph (a) s. 55(2) application to dividend as a result of a Pt IV tax refund does not generate CDA for on-payment of that dividend 29 November 2016 CTF Roundtable Q. 5, 2016-0670801C6- Investment management fees Income Tax Act- Section 207.01- Subsection 207.01(1)- Advantage- Paragraph (a)- Subparagraph (a)(i) bearing of RRSP or TFSA fees by the annuitant or holder typically will be subject to the 100% advantage tax, effective 2018 29 November 2016 CTF Roundtable Q. 6, 2016-0669661C6- 84.1 and the Poulin/Turgeon Case Essentially the same question and answer as 7 October 2016 APFF Roundtable Q. 20, 2016-0655831C6 F- Employee Buycos and the Poulin Case-- summary under Paragraph 251(1)(c) Poulin distinction between accommodation parties and tax advantaged arm’s length dealings accepted 29 November 2016 CTF Roundtable Q. 7, 2016-0672091C6- GAAR Assessment Process Income Tax Act- Section 245- Subsection 245(2) whether a GAAR proposal letter is issued before a Headquarters/GAAR Committee referral generally turns on whether the GAAR issue is familiar 29 November 2016 CTF Roundtable Q. 8, 2016-0671501C6- 55(2) clause 55(2.1)(b)(ii)(B) Income Tax Act- Section 248- Subsection 248(1)- Property cash is property in s. 55(2) Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(b) cash is property for 55(2.1)(b)(ii)(B) purposes 29 November 2016 CTF Roundtable Q. 9, 2016-0669801C6- BEPS Action Item 13 Income Tax Act- Section 233.8- Subsection 233.8(3) no requirement to produce a Local or Master File Income Tax Act- Section 247- New- Subsection 247(4) BEPS 13 has no effect on the s. 247 documentation requirements 29 November 2016 CTF Roundtable Q. 10, 2016-0669751C6- U.S. ...

Expense- Know-How and Training convention expenses "historically" viewed as capital expenditures 6 October 2017 APFF Roundtable Q. 13, 2017-0709061C6 F- Calcul des frais pour droit d'usage Income Tax Act- Section 6- Subsection 6(2) s. 6(2) standby charge based on leasing cost to the employer rather than the automobile’s cost to an affiliated purchaser 6 October 2017 APFF Roundtable Q. 14, 2017-0720321C6 F- GAAR & 21-year rule planning Income Tax Act- 101-110- Section 104- Subsection 104(4)- Paragraph 104(4)(a) Act does not contemplate any deferral beyond 21 years while property is directly in a discretionary trust or through a Canco 6 October 2017 APFF Roundtable Q. 15, 2017-0709141C6 F- Designation pursuant to paragraph 111(4)(e) Income Tax Act- Section 111- Subsection 111(4)- Paragraph 111(4)(e) appreciated goodwill is now eligible for the s. 111(4)(e) step-up 6 October 2017 APFF Roundtable Q. 16, 2017-0709161C6 F- Résidence principale sur une terre agricole Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1)- Interest in a Family Farm or Fishing Partnership- Paragraph (a)- Subparagraph (a)(i) a legally non-severable farm that is used both in farming and as a residence is one property for purposes of the s. 110.6 principal-use tests Income Tax Act- Section 248- Subsection 248(1)- Property non-severable farm is a single indivisible property 6 October 2017 APFF Roundtable Q. 17, 2017-0709171C6 F- Arm's length determination Income Tax Act- Section 251- Subsection 251(5)- Paragraph 251(5)(b)- Subparagraph 251(5)(b)(i) "holder-by-holder" method applied to treat contingent s. 251(5)(b) rights as being exercised re all the other shareholders 6 October 2017 APFF Roundtable Q. 18, 2017-0721691C6 F- APFF 2017- Question 18 Income Tax Act- Section 152- Subsection 152(1) DTS update ...

Topic Descriptor 29 May 2018 STEP Roundtable Q. 1, 2018-0744381C6- Update on the DTS 29 May 2018 STEP Roundtable Q. 2, 2018-0744101C6- Creation of a Trust Income Tax Act- 101-110- Section 104- Subsection 104(5.8) s. 104(5.8) applied where successive testamentary trusts created Income Tax Act- 101-110- Section 104- Subsection 104(4)- Paragraph 104(4)(b) 21-year rule’s application to testamentary trust is almost always computed from the testator’s date of death 29 May 2018 STEP Roundtable Q. 3, 2018-0744081C6- Trust return due date on wind up Income Tax Act- Section 249- Subsection 249(5) a non-GRE trust can have a calendar tax year even where it was dissolved Income Tax Act- Section 249- Subsection 249(1)- Paragraph 249(1)(c) non-GRE's tax year does not end with final distribution 29 May 2018 STEP Roundtable Q. 4, 2018-0743951C6- Safe income and estate Income Tax Act- Section 70- Subsection 70(6) safe income flow through on a spousal rollover of shares on death Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) safe income flow through on a s. 70(6), but not s. 70(5), transfer 29 May 2018 STEP Roundtable Q. 5, 2018-0743961C6- Tax on Split Income Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Shares “income” means “revenue,” and incidental property revenue is assimilated to services revenue 29 May 2018 STEP Roundtable Q. 6, 2018-0743971C6- Excluded Shares – Holding Company Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Shares holding company shares do not qualify as excluded shares 29 May 2018 STEP Roundtable Q. 7, 2018-0744031C6- Excluded Shares Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Shares a corporation with only property income does not accord excluded share status 29 May 2018 STEP Roundtable Q. 8, 2018-0742141C6- Application of subsection 70(5) Income Tax Act- Section 70- Subsection 70(5) McKenzie statement, that s. 70(5) inapplicable to NRs, is not followed 29 May 2018 STEP Roundtable Q. 9, 2018-0744111C6- Vested Indefeasibly Income Tax Act- 101-110- Section 108- Subsection 108(1)- Trust- Paragraph (g) meaning of vested indefeasibly 29 May 2018 STEP Roundtable Q. 10, 2018-0748381C6- Pipeline Ruling Requests Income Tax Act- Section 84- Subsection 84(2) in a pipeline ruling, the business must be continued for 12 months 29 May 2018 STEP Roundtable Q. 11, 2018-0748241C6- Subsection 104(13.4) Income Tax Act- Section 75- Subsection 75(2) s. 75(2) does not apply to the deemed s. 104(4) capital gain arising in an alter ego trust on the life beneficiary’s death Income Tax Act- 101-110- Section 104- Subsection 104(6)- Paragraph 104(6)(b)- Element B- Subparagraph (i) s. 104(4) gain is taxable in an alter ego trust 29 May 2018 STEP Roundtable Q. 12, 2018-0748811C6- US Transition Tax Income Tax Act- Section 126- Subsection 126(1) generally Canadian residents who are subject to the U.S. transitional tax generally will not be entitled to a foreign tax credit 29 May 2018 STEP Roundtable Q. 13, 2018-0744161C6- 75(2) and Foreign Tax Credit Income Tax Act- Section 20- Subsection 20(12) US withholding taxes borne by s. 75(2) trust might reduce the attributed income amount Income Tax Act- Section 126- Subsection 126(1) U.S. ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2018-12-12 5 October 2018 APFF Roundtable Q. 11, 2018-0768821C6 F- Tax on Split Income Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Amount- Paragraph (e)- Subparagraph (e)(i) dividends derived from stock portfolio of Holdco excluded because stock portfolio not a related business or not a business Income Tax Act- Section 120.4- Subsection 120.4(1)- Related Business- Paragraph (a)- Subparagraph (a)(i) stock market investing business of child's holdco not a related business as father not involved 5 October 2018 APFF Roundtable Q. 12, 2018-0768831C6 F- Tax on Split Income and Partnership Income Tax Act- Section 96- Subsection 96(1.8) having non-contributing children in a family portfolio investment partnership subject to potential challenge under ss. 74.1 and 96(1.8) Income Tax Act- Section 120.4- Subsection 120.4(1)- Split Income- Paragraph (a)- Subparagraph (a)(i) family partnership investing in designated stock exchange shares not subject to TOSI rules Income Tax Act- 101-110- Section 103- Subsection 103(1.1) having non-contributing children as members of a family stock market partnership is subject to challenge under s. 103 5 October 2018 APFF Roundtable Q. 13, 2018-0778661C6 F- Tax on Split Income Income Tax Act- Section 120.4- Subsection 120.4(1)- Arm's Length Capital no exclusion for arm’s length capital contribution where contribution derived from capital gain from related business Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Amount- Paragraph (e)- Subparagraph (e)(i) amounts not derived from a business were excluded amounts Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Shares returns to a spouse and older children from a Holdco in which they reinvested their Opco capital gains exemption could qualify as excluded amounts 5 October 2018 APFF Roundtable Q. 14, 2018-0768851C6 F- Avantage imposable découlant de l’utilisation d’un aéronef Income Tax Act- Section 15- Subsection 15(1) shareholder benefit from corporate aircraft reduced by an interest-free loan made by the shareholder to fund its purchase 5 October 2018 APFF Roundtable Q. 15, 2018-0768861C6 F- Share exchange and statute of limitation Income Tax Act- Section 152- Subsection 152(4) a price adjustment clause can operate re statute-barred transactions to affect a tax attribute that is used in the current year General Concepts- Effective Date retroactive ACB adjustment under PAC to statute-barred transaction may be taken into account in a current relevant transaction 5 October 2018 APFF Roundtable Q. 16, 2018-0768871C6 F- Dépenses de bureau à domicile et d’automobile Income Tax Act- Section 13- Subsection 13(21)- Depreciable Property depreciable property must be owned Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Incurring of Expense payment of expenses of taxpayer by another does not preclude “incurring” by taxpayer Income Tax Act- Section 9- Nature of Income payment of taxpayer’s expenses by another might give rise to s. 9 or 80 inclusion Income Tax Act- Section 13- Subsection 13(7)- Paragraph 13(7)(g) example of proration of capped s. 13(7)(g) capital cost Income Tax Act- Section 13- Subsection 13(21)- Undepreciated Capital Cost- A capital cost of co-ownership interest 5 October 2018 APFF Roundtable Q. 17, 2018-0768881C6 F- entreprise exploitée activement – revenu de location Income Tax Act- Section 125- Subsection 125(7)- Active Business Carried On by a Corporation question of fact whether a CCPC with too many employees to have a specified investment business carries on a business Income Tax Act- Section 125- Subsection 125(7)- Specified Investment Business principal purpose means main or chief objective 5 October 2018 APFF Financial Strategies and Financial Instruments Roundtable Q. 1, 2018-0761521C6 F- Life insurance policy as share redempt. proceeds Income Tax Act- Section 148- Subsection 148(7) more gain will be realized if an appreciated life insurance policy is distributed as redemption proceeds rather than a dividend-in-kind 5 October 2018 APFF Financial Strategies and Financial Instruments Roundtable Q. 2, 2018-0765791C6 F- Tax on Split Income Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Shares- Paragraph (a)- Subparagraph (a)(i) shares of a rental property company potentially may qualify as excluded shares for TOSI purposes 5 October 2018 APFF Financial Strategies and Financial Instruments Roundtable Q. 3, 2018-0765801C6 F- Tax on Split Income Income Tax Act- Section 120.4- Subsection 120.4(1)- Split Income- Paragraph (e)- Subparagraph (e)(ii) deemed s. 104(21) capital gains retained their character as stock market gains Income Tax Act- Section 120.4- Subsection 120.4(1)- Related Business- Paragraph (a)- Subparagraph (a)(ii) related business if children manage investment business of trust whose interest income is distributed to mother Income Tax Act- Section 120.4- Subsection 120.4(1.1)- Paragraph 120.4(1.1)(c)- Subparagraph 120.4(1.1)(c)(ii) s. 120.4(1.1)(c)(ii) exclusion where investment portfolio business of spousal trust had been carried on directly by deceased husband 5 October 2018 APFF Financial Strategies and Financial Instruments Roundtable Q. 4, 2018-0765811C6 F- Tax on Split Income Income Tax Act- Section 120.4- Subsection 120.4(1)- Split Income- Paragraph (c)- Subparagraph (c)(ii)- Clause (c)(ii)(D) no TOSI on net rental income of spousal trust on properties managed by son if excluded amounts Income Tax Act- Section 120.4- Subsection 120.4(1.1)- Paragraph 120.4(1.1)(c)- Subparagraph 120.4(1.1)(c)(ii) exclusion where rental portfolio of spousal trust was a directly-conducted business of deceased husband 5 October 2018 APFF Financial Strategies and Financial Instruments Roundtable Q. 5, 2018-0761561C6 F- Rachat de parts en cas d’invalidité ...

These are additions to our set of 1,053 full-text translations of French-language Roundtable items and Technical Interpretations of the Income Tax Rulings Directorate, which covers all of the last 8 ¾ years of releases of Interpretations by the Directorate. ...

Topic Descriptor 26 November 2020 STEP Roundtable Q. 1, 2020-0839931C6- Executor's Year of a GRE Income Tax Act- 101-110- Section 104- Subsection 104(13.3) scope of application of s. 104(13.3) Income Tax Act- 101-110- Section 104- Subsection 104(6) elaboration of executor's year policy Income Tax Act- 101-110- Section 104- Subsection 104(23) CRA executor’s year policy is relevant only where the executor’s year extends beyond the GRE’s taxation year 26 November 2020 STEP Roundtable Q. 2, 2020-0840001C6- Subsection 104(13.4) and LCBs Income Tax Act- Section 161- Subsection 161(1) s. 104(13.4)(c) extension of balance-due date for terminal stub year of alter ego/joint spousal trust can permit capital loss in subsequent stub year to eliminate terminal year interest Income Tax Act- 101-110- Section 104- Subsection 104(13.4)- Paragraph 104(13.4)(c) a capital loss in the tax year following the death of an alter ego trust’s settlor can eliminate interest on the terminal T3 return’s 104(4)(a) gain 26 November 2020 STEP Roundtable Q. 3, 2020-0839881C6- Distribution of taxable capital gain Income Tax Act- 101-110- Section 104- Subsection 104(21) only the taxable portion of a capital gain need be distributed for s. 104(21) purposes 26 November 2020 STEP Roundtable Q. 4, 2020-0838001C6- Foreign Tax Credit Income Tax Act- Section 126- Subsection 126(1) UK source of gain re-sourced to Australia for s. 126 purposes under Australia-Canada Treaty sourcing rule Treaties- Income Tax Conventions- Article 24 a capital gain’s geographic source for Canadian FTC purposes was re-sourced to Australia under the Treaty-source rule 26 November 2020 STEP Roundtable Q. 5, 2020-0847181C6- Subsections 40(3.61) and 164(6) Income Tax Act- Section 164- Subsection 164(6)- Paragraph 164(6)(a) s. 164(6)(a) applied before s. 40(3.61) so as to avoid iterative grind of s. 164(6) carryback amount Income Tax Act- Section 40- Subsection 40(3.61) ss. 40(3.61) and (3.6), and 164(6), not applied iteratively to eliminate a s. 164(6) loss carryback where the estate also realized a small capital gain 26 November 2020 STEP Roundtable Q. 6, 2020-0839991C6- Eligible offset Income Tax Act- 101-110- Section 107- Subsection 107(2)- Paragraph 107(2)(c) generation of a loss to a capital beneficiary attributable to an eligible offset amount Income Tax Act- 101-110- Section 107- Subsection 107(1)- Paragraph 107(1)(a) illustration of s. 107(1)(a) application to avoid capital gain but not necessarily a capital loss 26 November 2020 STEP Roundtable Q. 7, 2020-0837611C6- TOSI and Rental Property Income Tax Act- Section 120.4- Subsection 120.4(1)- Split Income TOSI does not apply to rental properties held by individual co-owners 26 November 2020 STEP Roundtable Q. 8, 2020-0837621C6- TOSI and Donations Income Tax Act- Section 120.4- Subsection 120.4(3) charitable credits do not reduce an individual’s TOSI 26 November 2020 STEP Roundtable Q. 9, 2020-0837631C6- TOSI- Excluded Business Income Tax Act- Section 120.4- Subsection 120.4(1.1)- Paragraph 120.4(1.1)(a) hours worked for multiple corporations cannot be aggregated for purposes of the 20-hour test Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Business a specified individual splitting full-time work amongst multiple corporations might meet the excluded business activity test on less than 4 hours per week per corporation 26 November 2020 STEP Roundtable Q. 10, 2020-0837641C6- TOSI- Excluded Business Income Tax Act- Section 120.4- Subsection 120.4(1)- Split Income investing carried on with the proceeds of sale of a business in which the spousal shareholders had been engaged full time generally would generate TOSI on resulting dividends Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Business questioned availability of excluded business exception where investing activity 26 November 2020 STEP Roundtable Q. 11, 2020-0839891C6- Subsection 104(19) Income Tax Act- 101-110- Section 104- Subsection 104(19) dividend subject to Pt IV tax because payer and corporate beneficiary no longer connected at December 31 effective date of all s. 104(19) designations Income Tax Act- Section 186- Subsection 186(1)- Paragraph 186(1)(a) Pt IV tax exemption no longer available because corporate beneficiary was no longer connected at December 31 effective time of s. 104(19) designation Income Tax Act- Section 249- Subsection 249(1)- Paragraph 249(1)(c) individual has a calendar year, even in terminal year Income Tax Act- 101-110- Section 104- Subsection 104(13) designated dividend included in individual’s terminal return which has a December 31 year end 26 November 2020 STEP Roundtable Q. 12, 2020-0839981C6- 21 year planning, 107(5) and TCP Income Tax Act- Section 245- Subsection 245(4) s. 107(2) rollout by Canadian discretionary trust to a NR-owned Canadian corporate beneficiary appears abusive Income Tax Act- 101-110- Section 107- Subsection 107(5) distributions by a Canadian discretionary trust to a NR-owned Canadian corporate beneficiary of TCP not carved-out in s. 107(5) appear abusive 26 November 2020 STEP Roundtable Q. 13, 2020-0847201C6- GRE & section 216 election Income Tax Act- Section 248- Subsection 248(1)- Graduated Rate Estate non-resident estate can be GRE and file s. 216 returns Income Tax Act- Section 216- Subsection 216(1) a non-resident estate (using GRE graduated rates), then its residuary beneficiaries, could file under s. 216 respecting a Canadian rental property Income Tax Act- 101-110- Section 107- Subsection 107(2) s. 107(2) applicable to distribution by NR estate of Canadian rental property NR residuary beneficiaries 26 November 2020 STEP Roundtable Q. 14, 2020-0839961C6- Adjusted Aggregate Investment Income Income Tax Act- Section 125- Subsection 125(5.2) s. 125(5.2)(c) references a reason of reducing the associated group’s AAII for purposes of the passive income reduction rule in s. 125(5.1)(b) 26 November 2020 STEP Roundtable Q. 15, 2020-0839951C6- Subsection 164(6) limitations Income Tax Act- Section 164- Subsection 164(6) no CRA discretion to extend the one-year deadline under s. 164(6) for sustaining the post-death capital loss 26 November 2020 STEP Roundtable Q. 16, 2020-0839921C6- Offshore Tax Informant Update Income Tax Act- Section 152- Subsection 152(1) OTIP stats at end of 2019 26 November 2020 STEP Roundtable Q. 17, 2020-0837001C6- Trust Pass-Through of CGE Income Tax Act- 101-110- Section 104- Subsection 104(21.2) the QSBC share character of capital gains can be flowed out in a 2-tier trust structure Income Tax Act- 101-110- Section 108- Subsection 108(1)- Eligible Taxable Capital Gains "annual gains limit" takes into account lower tier trust's ss. 104(21) and (21.2) designations ...