Search - 包建铎违纪违法案件以案促改以案促治专题组织生活会 个人对照检查

Does the first fact pattern in the Explanatory Notes under the heading "Example – Exchangeable Shares", involving a share of a Canco that is exchangeable by its terms for shares of a Forco, not constitute a "derivative forward agreement" because the exchange right embedded in the share is not an agreement? CRA responded: The DFA rules are… intended to address certain structures that have the effect of transforming income into capital gains. … The CRA cannot confirm that an exchange right embedded in a share is not an "agreement" for purposes of the DFA definition. ...

Read, "Section 55: A Review of Current Issues," 1988 Conference Report (Canadian Tax Foundation), 18:1-28-- summary under Safe-Income Determination Time Summary Under Tax Topics- Income Tax Act- Section 55- Subsection 55(1)- Safe-Income Determination Time Safe income excludes income earned after the commencement of the series (p. 18:4) The period of time relevant to the calculation of “ the income earned or realized” by a corporation in relation to a particular share of that corporation will commence on the later of January 1, 1972 and the date of acquisition of that share, and will end “ before the transaction or event or the commencement of the series of transactions or events” referred to in paragraph 55(3)(a). ...

Finance responded: We agree that … the transactions described above ought not to give rise to two concurrent upstream loans, and two related income inclusions under the upstream loan rules. We are therefore prepared to recommend … rules- similar to the deemed repayment rules in subsections 15(2.18) and (2.19) (which apply for the purposes of the back-to-back shareholder loan rules in subsections 15(2.16) and (2.17), but with such modifications as are required by the context of the upstream loan rules- that would deem all or a portion of a loan that is deemed to be made under subsection 90(7) to be repaid for the purposes of paragraph 90(8)(a) and subsection 90(14) if certain conditions are met. ...

Specifically … the amount of tax payable in respect of the Services by the SLFI in that reporting period would be included in its SAM formula calculation which is used to determine the SLFI’s tax liability for the provincial part of the HST for the participating provinces and which is an adjustment to the SLFI’s net tax calculation and interim net tax calculation where applicable. ... Essentially, the SAM formula computes a normative amount of provincial HST based on the deemed residence of its stakeholders, and compares this with the actual provincial HST paid to its suppliers – and then requires that the difference be reported and claimed as refunds or remitted as tax in interim and final returns. ...

. … Listing of uncertain tax positions not privileged The taxpayer’s list of uncertain tax positions that relates to the tax reserve in their financial statements is not a privileged document. … Exclusions of advisors’ tax analysis may be accommodated Provided all the relevant facts of the transactions are disclosed, including the taxpayer's purpose or purposes in undertaking a transaction or series of transactions, exclusions of their advisors’ analysis of the legal and tax effects of the transactions may be accommodated. ...

. … [C]onsistent with its standard practice, the CRA is administering this measure on the basis of the proposed amendment [and similarly re embryos] If the proposed amendment becomes law, you may then contact the supplier, who may choose to adjust the amount charged, or refund or credit the amount collected. ... Alternatively, you can file a rebate claim with the CRA for the amount paid in error …. ...

Does the stipulation in s. 90(9)(b), that the exempt surplus must be “not relevant in applying this subsection in respect of... any deduction under subsection... 113(1) in respect of a dividend paid, during the period in which the particular loan … is outstanding” signify that Canco could not access the s. 90(9) deductions in years 1 to 3, because the loan was still outstanding in year 4 at the time that the dividend was paid out of exempt surplus? ... …[T]he CRA would not deny the deduction under subsection 90(9) in years 1, 2, and 3 as a result of the claiming of the subsection 113(1) deduction by Canco in year 4 …. ...

. … Mortgage broker as example of non-qualifying institution Example 4 Insurance Broker D is an insurance broker during its fiscal year ending December 31, 2019. ... As a result, if a financial institution (other than certain new corporations formed as the result of a merger or amalgamation) did not exist for two years prior to the particular fiscal year, the financial institution would not be a qualifying institution for that particular fiscal year. … 12. ...

. … If A and B are not builders of a residential complex because of paragraph (f) of the definition of “builder” … they will not be subject to the self-supply rules in any of subsections 191(1) to (4), and accordingly, they will not be subject to the personal use exception in subsection 191(5). ...

For example … a corporation could be a builder of a residential complex under subparagraph (b)(ii) where the corporation is a developer-landlord who purchases an apartment building that is under construction, and finishes the construction, for the primary purpose of leasing the apartment units to tenants. ... [emphasis in original] … [A] corporation that is a purchaser-landlord who acquires a right to purchase an apartment building that is under construction for the primary purpose of leasing the completed apartment building to another person under a head lease (or for the primary purpose of leasing the completed apartment units to tenants) would not be a paragraph (b) builder because of the exclusion in paragraph (h). ...