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3 January 1997 External T.I. 9639365- REIMBURSEMENT OF RRSP ADMINISTRATION FEES-- summary under Premium Summary Under Tax Topics- Income Tax Act- Section 146- Subsection 146(1)- Premium contribution to plan to fund admin fees is a premium The Department briefly stated: [W]here the annuitant makes a payment to his or her RRSP trust as a contribution under the trust to be applied for the purpose of providing the annuitant with a "retirement income" (as defined in subsection 146(1) of the Act) on maturity, the payment is considered a payment of a "premium" as defined in subsection 146(1) … unless it is a payment excluded in the conclusion to that definition. … [A]dministration or trustee fees can also be paid directly by the annuitant outside the trust and that there is no deduction for such payments made after March 5, 1996. ...

CRA stated: [A] payment made by an employer to a lessor to compensate for damages (including the total loss of a leased automobile) … would not be included in the standby charge calculation in subsection 6(2) …. ...

. … [but here] no [such] deduction would be available …. The s. 56(1)(a)(i)(C.1) exemption would be unavailable. ...

7 February 2014 External T.I. 2014-0516921E5 F- Crédit et frais résiduels-- summary under Substance Summary Under Tax Topics- General Concepts- Substance lease characterized as lease unless its actual legal effects differ Before going on to analyse automobile leases- under which the lessee bore all risk including being responsible for the rents even if the automobile was stolen or destroyed, and bearing at termination of the lease any difference between the actual sale price of the automobile by the lessor and the residual value stated in the lease – on the basis that they were leases, CRA stated: [I]n the absence of sham … for the purposes of the Act a lease agreement is a lease agreement and a sale contract is a sale contract. … [A] recharacterization is only possible where the taxpayer's characterization of the transaction does not adequately reflect its actual legal effects. ...

If … the use of the property changed and it was subsequently used for personal purposes … this would constitute a change of use and the interest on the mortgages would cease to be deductible …. ...

CRA responded: In both of the situations … you would generally be able to deduct an amount as a capital gains deduction … as long as all the conditions and limitations in subsection 110.6(2.1) are satisfied. The fact that you dispose of the shares of the particular corporation to an individual with whom you do not deal at arm's length should generally not prevent you from deducting an amount under subsection 110.6(2.1). … [I]n both of these situations, subparagraph 84.1(2)(a.1)(ii) could apply for the purposes of section 84.1 to reduce the adjusted cost base of the shares acquired by your child. ...

., a corporation that generated rents that, given the level of activity, constituted income from property) cannot qualify as excluded shares, whereas Examples 10 of CRA’s “ Guidance on the application of the split income rules for adults ” found that dividends received by siblings (now, over 25) following a sale of one of Real Estateco’s rental properties at a gain were from excluded shares, and Example 12 found that Spouse A, aged 65 who owned 95% of the shares of Investco, whose active business was actively managed by Spouse A (with no involvement of Spouse B) before it became a portfolio company, held that 95% bloc as excluded shares. When asked to reconcile Q.7 with the latter two examples, CRA stated: Example 10 was intended to illustrate the exclusions with respect to reasonable return … and excluded shares. As for Example 12, the latter also covered the exception for excluded shares, but also the deeming rule provided in subparagraph 120.4(1.1)(c)(i) providing relief for spouses of business owners who turned 64 before the end of the year. … In addition, to demonstrate that the various exclusions were applicable not only to entities that earn income from an active business, such as a manufacturing corporation, but also to entities that carry on a business of earning income from property, such as a property rental business (in Example 10) or an investment management business (in Example 12), we had assumed that these corporations had a sufficient level of activity such that their income could be considered as derived from a business. ...

15 June 2012 External T.I. 2012-0434761E5 F- Dons liés à une police d'assurance-vie-- summary under Total Charitable Gifts Summary Under Tax Topics- Income Tax Act- Section 118.1- Subsection 118.1(1)- Total Charitable Gifts gift if pay policy premiums following assignment of policy to charity, but not by virtue of designating charity as policy beneficiary Regarding gifts to registered charities by means of a life insurance policy of which the donor is the policyholder and the insured, CRA stated: [Such] individual … can designate a registered charity as a beneficiary (revocable or irrevocable) of the benefit payable under the policy in the event of death. ... Since the individual remains the holder of the life insurance policy and is responsible for the payment of premiums to the insurer … the payment of the premiums by the individual does not constitute a gift …. However, by virtue of subsections 118.1(5.1) and (5.2), the payment by an insurer to a registered charity following the death of an individual will be deemed to be a gift that the individual made, immediately before the death, to the registered charity, to the extent that all the conditions of subsection 118.1(5.1) are satisfied. … If, following the assignment [of the policy to the charity], the individual continues to pay the policy premiums directly to the insurance company at the request of the registered charity or with its consent, the individual will be considered to have made a gift qualifying for the charitable donations tax credit, in the same manner as if the individual had donated money to the charity to enable the charity to pay premiums on the assigned life insurance policy. ...

CRA responded: If more than one property is donated at the same time … the amount of the advantage must be determined for each donation. ... In such a case, it is our view that the value of the advantage must be allocated on a reasonable basis among all of the donated property to determine the amount of the advantage in respect of each donation. … If a taxpayer has sold property to a charity and also donated other property to the charity … [and] the donations have enabled the taxpayer to sell the taxpayer’s other properties … the taxpayer may have received an advantage in respect of one or more gifts. ...

CRA stated: The guarantee … is provided by the Fund solely to enable Holdco to access the financial markets by issuing a short form prospectus in order to benefit from the expediency and other advantages stemming from that procedure. ... [P]rovided that all the conditions of section 253.1 … are met and that the Fund is not engaged in the business of lending money or guaranteeing loans …the requirements of subsection 132(6) … are not violated by the mere fact that the Fund provides the guarantee …. ...