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

26 June 2001 External T.I. 2001-0068285 F- DATE DE DISPOSITION ACTIONS EN BOURSE-- summary under Paragraph (a) Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Disposition- Paragraph (a) disposition date on a stock exchange is the settlement date, being the due date for the proceeds In finding that a taxpayer may not uses the trade date rather than the settlement date as the date of disposition of publicly traded shares, CCRA stated: A "disposition", as defined … [to] include … "any transaction or event entitling a taxpayer to proceeds of disposition of the property". Consequently … there is no disposition before the vendor is entitled to the proceeds of disposition, i.e. on the settlement date. ...

CRA responded: [W]here a person who is both a shareholder and an employee of a corporation receives a benefit from that corporation that is not available to other employees, … [CRA] generally considers that there is a presumption that the person has received that benefit as a shareholder. … CCA … could not be claimed for a capital expenditure related to a shareholder benefit because the property in question was not acquired for the purpose of gaining or producing income …. ...

22 September 2010 External T.I. 2010-0373041E5 F- Résidence principale-- summary under Paragraph (e) Summary Under Tax Topics- Income Tax Act- Section 54- Principal Residence- Paragraph (e) holding land within ½ hectare area under separate title does not preclude exemption applying to such adjacent land The correspondent sold two pieces of land adjacent to the land on which the individual’s principal residence was located to an arm’s length purchaser that, together with the retained land, totaled less than one-half hectare. CRA stated: Fourt … held … that the mere fact of holding separate title to land adjacent to the title to the land subjacent to the housing unit does not preclude the entire area not exceeding one-half hectare from qualifying for the principal residence exemption to the extent that the facts demonstrate that the immediately contiguous land may reasonably be regarded as contributing to the use and enjoyment of the housing unit as a residence. If that is your case, you may have disposed of only part of a property that qualifies as your principal residence and you may be able to designate the land as your principal residence …. ...

CRA responded: … $1,000 … would be a function of the FMV of the net assets of Bco. Since Bco would have no liabilities at that time, it appears to us that the total FMV of Bco's assets would also be $1,000 immediately before the particular time. … [A] method of determining the FMV of property of a particular prescribed class based on objective data such as an independent appraisal report, a price list, a sales transaction of similar property, etc., would generally be an acceptable method. … [I]n this case the amounts established by the independent appraiser could be used as a basis for allocating the $1,000 to the various assets of Bco immediately prior to the time of the acquisition of control. ...

However, … CRA … accepts that the portion of the dividend that may be considered safe income on hand attributable to the gain on the shares may be included in the GRIP of the corporation receiving the dividend if the corporation … designates such amount as a separate taxable dividend under paragraph 55(5)(f). ...

CRA responded: [Under] the principle in … Poulin … an expense paid in a year in which a taxpayer is no longer carrying on business may be deducted in that year since the taxpayer cannot be considered to have ceased to carry on business as long as the taxpayer is engaged in following up on actions taken by the taxpayer in the course of carrying on business. … [P]remiums paid by a taxpayer to maintain liability insurance in respect of actions taken in the course of carrying on the taxpayer's business would be deductible in computing the taxpayer's income. ...

In addition, you have advised … that … there is no change in the capital structure of the Corporation, the number of outstanding shares, the number of shares held by any shareholder, or the interest, rights, or privileges attached to any share. [Accordingly] …. the actions undertaken would not, in and of themselves, constitute a redemption, acquisition, or cancellation of any share of the Corporation, or otherwise result in a disposition of a share of the Corporation. ...

X in the hypothetical situation …. The inapplicability of this provision arises from … the terms of the loan [being] determined independently of the terms of the trust indenture, as confirmed … in Howson …. ...

. … Thus … Corporation A did not become a CCPC at the time of the signing of the purchase offer made by Corporation B since it continued to be controlled by Pubco at that time. ...

CRA responded: [W]here a court orders one spouse to pay maintenance to another then, as regards the spouse to whom the court has granted the support, this is a situation respecting an entitlement a right arising out of the marriage of such spouses …. [T]he …. transfer [by X] was made under such a court order for the payment of maintenance to X and was intended to have the support granted to X under the court order be effected in in a more liquid form. ...