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

We consider that the following factors would be relevant in making such determination: • the identity of members, • the structure of the corporation, • who exercises control over the financing, operation and direction of the corporation, • who has the right to elect or change the board of directors or to reverse its decision, • who can contribute capital and receive a distribution of capital, • details regarding asset distribution on winding-up or dissolution and • whether a person other than her Majesty in right of Canada, a province or a Canadian municipality has any right to acquire any capital of the corporation. ...

CRA stated: Corporation B's activities are limited to the provision of services on behalf of others as a subcontractor and … the profits earned by Corporation B are not manufacturing and processing profits in Canada. …. However … it is possible that the subcontracting costs paid by Corporation A to Corporation B could be included in the "cost of manufacturing and processing labour" as defined in [Reg.] 5202 …. ...

CRA stated: Corporation B's activities are limited to the provision of services on behalf of others as a subcontractor and … the profits earned by Corporation B are not manufacturing and processing profits in Canada. …. However … it is possible that the subcontracting costs paid by Corporation A to Corporation B could be included in the "cost of manufacturing and processing labour" as defined in [Reg.] 5202 …. ...

. … [T]he CRA [will not] accept a late designation if it is for retroactive tax planning purposes, if the designation is part of a tax avoidance scheme, or if it is necessary, in order to give effect to the designation, to issue a … reassessment … [where] the normal reassessment period … has expired. ...

CRA responded: [Ss.] 251(5)(b)(ii) and … 256(1.4)(b) … [are] broad enough to apply to a situation where a particular person does not have control over the triggering of an event that would entitle that person to require a corporation to redeem, acquire or cancel shares of its capital stock owned by another shareholder. … In addition, the CRA has ruled … that those two provisions generally should not apply to a situation where a corporation is required to redeem or cancel shares of its capital stock held by a shareholder who has been found guilty of fraud in relation to the corporation. … [See] F 2002-0172315 and F 2006-0167361E5. ...

. … Where a taxpayer has an alternative minimum tax balance to carry forward … CRA … will agree to consider the taxpayer's request to reduce tax deductions at source for one of the years to which such balance can be carried forward. ...

22 January 2020 External T.I. 2014-0559281E5 F- T5008-- summary under Subsection 49(1) Summary Under Tax Topics- Income Tax Act- Section 49- Subsection 49(1) writing of call option (with deemed nil ACB) is reported as having nil “cost” on T5008 Respecting the application of s. 49(1) to the writing and sale on an exchange of a naked call option and the reporting of the “cost” of the option on the T5008 issued by the securities dealer, CRA stated: [W]here an option is capital property … subsection 49(1) … provides (subject to the application of subsections 49(3) and 49(3.1) … and the exceptions in paragraphs 49(1)(a) to (c) …) that the granting of an option is equivalent to a disposition of property having an adjusted cost base of nil … [so that] there is no need to allocate cost to the option. ...

In rejecting this submission, CRA stated: Assuming that the adjusted cost base of the exchanged common shares was nominal … the value of each class of shares … received on the exchange … would generally represent both a share of income earned or realized by Opco and a share of income not earned or realized …. Accordingly … the new shares issued by Opco would generally share the safe income on hand attributable to the old common shares on the basis of the gain inherent in each of them at the time of the exchange. The safe income on hand of Opco attributable to the former common shares would therefore … generally be allocated based on the proportion that the unrealized gain inherent in the Preferred Shares at the time of the exchange bears to the total unrealized gain, at the time of the exchange, inherent in the shares received on such exchange. ...

Regarding whether this generated a taxable benefit under s. 6(1)(a), CCRA stated: [E]xpenses incurred by the employee to improve the employee’s housing unit that are not within the scope of those normally assumed or reimbursed by a landlord should not … reduce the value of the benefit …. However … where the expenses incurred by the employee are expenses that are normally borne by a landlord, the amount of this benefit could be reduced by a reasonable amount, which represents the disbursements made by the employee for work related to the employee’s housing unit that primarily benefits the employer/landlord. … Furthermore, we disagree that the value of the benefit computed for the purposes of paragraph 6(1)(a) should be reduced to take into account the time spent by the employee in carrying out the renovation work on the employee’s housing unit. ...

Based on this information, we are of the view that those plans generally satisfy the definition of the term "forest management plan" as currently defined in the Explanatory Notes …. … [I]t is not the forest engineer's report setting out the development expenditures eligible for the property tax refund that constitutes a "forest management plan" for the purposes of subsections 70(9) and 73(3), but rather the certified forest management plan that the taxpayer filed to obtain forest producer status under section 120 of the Forest Act. ...