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F.C.T. ((1946) 72 C.L.R. 634 at 648) Dixon J. of the High Court of Australia stated that the answer to whether an expenditure is on income or capital account, "... depends on what the expenditure is calculated to effect from a practical and business point of view rather than upon the juristic classification of the legal rights, if any, secured, employed or exhausted in the process. ... Ltd., supra, at p. 648, reminds us that the classification of such expenditures '... depends on what the expenditure is calculated to effect from a practical and business point of view rather than upon the juristic classification of legal rights...', supra. ...

Amounts determined under paragraph 12(1)(v) of the Act with respect to a negative Scientific Research and Experimental Development (SR & ED) pool balance. 3. ... To the extent that the amounts are in respect of SR & ED amounts that were deducted under subsection 37(1) of the Act in computing gross resource profits in prior years, we agree with your position that amounts included in income under paragraphs 12(1)(t) or (v) of the Act should be included in income for the year from production and/or processing in computing gross resource profits, and consequently, in the calculation of the resource allowance under subsection 1210(1) of the ITR. ...

February 15, 1999 Newfoundland & Labrador Tax HEADQUARTERS Services Office M. ... Jim Wilson Section Chief Business, Property & Employment Section II Business and Publications Division Income Tax Rulings and Interpretations Directorate Policy and Legislation Branch- 4- ...

Principales Questions: Est-ce que les dépenses suivantes engagées par un directeur d'agence (son revenu provient en totalité de commissions) sont déductibles dans le calcul de son revenu d'emploi en vertu de l'alinéa 8(1)f) de la Loi: * Honoraires comptables pour conférences sur la fiscalité pour les vendeurs de l'agence et pour consultation pour les dossiers des clients * Congrès des assureurs-vie: Position Adoptée: Oui pour les honoraires comptables, non pour le congrès. ...

Gledhill, This memo is in reply to your request for a technical interpretation dated November 26, 2020 regarding certain interactions between the operations of subsection 219(1) of the Income Tax Act (the “Act”) and paragraph 6 of Article X (“Article X(6)”) of the Canada – US Income Tax Convention (the “Treaty”). ... The concept of earnings closely parallels the accounting concept of retained earnings – relevant in the case of a corporation to the concept of distributable reserves – and for that concept, the income tax impact of losses is matched to the year which gave rise to the tax recovery. ... The cumulative earnings in Year 2 are $300 ($100 + $200), from which $100 are carved out since $100 in respect of Year 1 has been subject to branch tax in previous taxation years. ...

Principales Questions: * Est-ce que les redevances recevables à la fin d’une année d’imposition doivent être incluses dans le revenu en vertu de l’alinéa 12(1)b) de la Loi ou si l’alinéa 12(1)g) de la Loi permet de déclarer ces redevances seulement dans l’année où elles sont reçues. * Est-ce que les contributions du contribuable et des franchisés au fonds de publicité sont déductibles dans l’année s’il existe un surplus dans le fonds de publicité à la fin de l’année. ... Raisons POUR POSITION ADOPTÉE: * L’alinéa 12(1)g) de la Loi ne s’applique pas à l’égard d’un revenu d’entreprise. ... Selon les états financiers présentés à l’égard du fonds de publicité, un surplus de XXXXXXXXXX $ était accumulé à la fin de l’exercice financier XXXXXXXXXX. ...

On this point, they differ from partnerships insofar as the latter do not have juridical personality in most countries. 2. […] 3. ... He is personally taxable only on those profits which are distributed by the company… […] 24. ... On the other hand, debt-claims participating inprofits do not come into this category (see paragraph 19 of the Commentary on Article 11); likewise interest on convertible debentures is not a dividend. […] The OECD Commentary goes further and indicates that the extended definition of “dividend” in paragraph X(3) captures economic benefits that would not generally be viewed as distributions of profit in the traditional sense: 28. ...

However, the Communiqué limits its application by not accepting "... requests for adjustments on or after October 15, 1998 where the period for filing a notice of objection has expired. ... In BJ Services, Campbell's, T.C.J., decision on this issue is as follows, at page 2043: [38] [...] ... However, once the commitment is made to proceed with the particular project all expenditures which are directly linked to the creation or acquisition of a capital asset form part of the capital cost of that asset unless that asset is not, in fact, created or acquired. [...] ...

This view is consistent with the Department of Finance Technical Notes on paragraph 95(2)(k) and (k.1) which read in part as follows: "... there has to be a transition, whether by way of the business changing its nature or by the non-resident corporation becoming a foreign affiliate of the taxpayer, in order for the fresh start rules to apply". ... The wording of paragraph 138(11.91)(e) of the Act does not mesh well with the definition of ECE in subsection 14(5) of the Act which contemplates an "... outlay or expense made or incurred by the taxpayer, as a result of a transaction... ... For Director International Division Income Tax Rulings Directorate Legislative Policy & Regulatory Affairs Branch cc Mark Turnbull ...

Therefore, Canco's EP in ECo is XXXXXXXXXX% plus XXXXXXXXXX% of XXXXXXXXXX% = XXXXXXXXXX%. ... Therefore, Canco's EP in Opco is XXXXXXXXXX% x XXXXXXXXXX% plus XXXXXXXXXX x XXXXXXXXXX% = XXXXXXXXXX%. ... Yours truly, Olli Laurikainen, CPA, CA For Director International Division Income Tax Rulings Directorate Legislative Policy & Regulatory Affairs Branch FOOTNOTES Note to reader: Because of our system requirements, the footnotes contained in the original document are shown below instead: 1 This appears to have been paid by an entity on behalf of NR1 called XXXXXXXXXX. ...