Search - 广东省2005政府工作报告 一小发展 金句

24 January 2022- 11:20pm We have translated 8 more CRA interpretations Email this Content We have published a further 8 translations of CRA interpretation released in October, September and August, 2005. ... These are additions to our set of 1,898 full-text translations of French-language Technical Interpretation and Roundtable items (plus some ruling letters) of the Income Tax Rulings Directorate, which covers all of the last 16 ½ years of releases of such items by the Directorate. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2005-10-07 26 August 2005 Internal T.I. 2005-0131171I7 F- Alinéa 18(1) e) de la LIR Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(e) no specific contractual obligation regarding maintenance obligation Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Incurring of Expense no expense incurred for maintenance obligation until contractual obligation to someone 30 September 2005 External T.I. 2004-0093661E5 F- Revenu d'une fiducie et droit acquis par un mineur Income Tax Act- 101-110- Section 104- Subsection 104(6) a specific clause allocating taxable portion of capital gains to income beneficiary and non-taxable portion to capital beneficiary can be recognized Income Tax Act- 101-110- Section 104- Subsection 104(24) written trustee resolution may be necessary to establish that an amount of income has become payable 2005-09-16 12 September 2005 External T.I. 2005-0134631E5 F- Superficial Loss- Realization of Latent Loss Income Tax Act- Section 54- Superficial Loss loss could be realized by 4 unrelated individuals transferring their equal shareholdings of Opco to Newco Income Tax Act- Section 251- Subsection 251(1)- Paragraph 251(1)(c) 4 unrelated individuals transferring their equal shareholdings of Opco to Newco could be a NAL transaction 2005-09-09 31 August 2005 Internal T.I. 2005-0134831I7 F- Capital Gains Exemption Strip Income Tax Act- Section 245- Subsection 245(4) the use of s. 40(3.6)(b) for surplus-stripping purposes would be referred to the GAAR Committee Income Tax Act- Section 40- Subsection 40(3.6) individuals holding high-ACB/low-PUC prefs and low ACB/PUC common shares preserved that ACB under s. 40(3.6)(b) for surplus-stripping purposes on their prefs’ redemption Income Tax Act- Section 84.1- Subsection 84.1(1)- Paragraph 84.1(1)(a) s. 84.1 did not apply to transferring crystallized preferred shares’ ACB to common shares under s. 40(3.6)(b), with those shares exchanged for high-PUC prefs of new Holdcos for cash redemption 31 August 2005 External T.I. 2005-0114421E5 F- Frais de garde d'enfants Income Tax Act- Section 63- Subsection 63(3)- Child Care Expense fees for breach of contract can qualify but not educational fees 26 August 2005 Internal T.I. 2005-0121871I7 F- Assurance-vie commissions reçues par une société Income Tax Act- Section 9- Nature of Income exemption for life insurance commissions on broker’s own life inapplicable where commission is assigned to his corporation carrying on the business 2005-09-02 26 July 2005 External T.I. 2004-0097031E5 F- Règles sur les entités de placement étrangères Income Tax Act- Section 95- Subsection 95(8) description of Barbados cell company in context of previous tracking interest rules 2005-08-19 2 August 2005 External T.I. 2005-0112871E5 F- Cotisation professionnelle Income Tax Act- Section 8- Subsection 8(1)- Paragraph 8(1)(i)- Subparagraph 8(1)(i)(i) fees paid by municipal mangers to a professionals corporation formed under private member’s bill were non-deductible ...

31 January 2022- 10:59pm We have translated 9 more CRA interpretations Email this Content We have published a translation of a CRA interpretation released last week and a further 8 translations of CRA interpretation released in August and July, 2005. ... These are additions to our set of 1,907 full-text translations of French-language Technical Interpretation and Roundtable items (plus some ruling letters) of the Income Tax Rulings Directorate, which covers all of the last 16 ½ years of releases of such items by the Directorate. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2022-01-26 26 October 2021 External T.I. 2019-0800111E5 F- Psychothérapeutes du Québec, professionnels de la Income Tax Act- Section 118.4- Subsection 118.4(2) Quebec psychotherapists added to list of authorized medical practitioners 2005-08-19 3 August 2005 External T.I. 2005-0118891E5 F- REÉÉ- Décès du souscripteur Income Tax Act- Section 146.1- Subsection 146.1(1)- Subscriber- Paragraph (c) testamentary trust became a successor subscriber 2 August 2005 Internal T.I. 2005-0135701I7 F- Exonération- Indien inscrit Other Legislation/Constitution- Federal- Indian Act- Section 87 being on standby does not constitute the performance of duties of employment 2005-08-05 13 July 2005 External T.I. 2005-0131351E5 F- Séparation des conjoints de fait Income Tax Act- Section 248- Subsection 248(1)- Common-Law Partner common-law partnership of couple with a child resumed the moment they resumed living together Income Tax Act- Section 74.5- Subsection 74.5(3)- Paragraph 74.5(3)(a) attribution resumed when cohabitation resumed Income Tax Act- Section 74.5- Subsection 74.5(3)- Paragraph 74.5(3)(b) capital gain is attributed to transferor common-law partner if the property is sold after they resumed their relationship 7 July 2005 External T.I. 2005-0122191E5 F- Erroneous Elections in Statute-barred Years Income Tax Act- Section 85- Subsection 85(1)- Paragraph 85(1)(c.1) no need to amend the s. 85(1) election where the agreed amount was less than the s. 85(1)(c.1) floor Income Tax Act- Section 85- Subsection 85(7) no need to amend the s. 85(1) election where automatic s. 85(1)(c.1) adjustment Income Tax Act- 101-110- Section 110.6- Subsection 110.6(19) no need to amend the s. 85(1) election where the agreed amount was less than the s. 85(1)(c.1) floor 2005-07-29 24 June 2005 External T.I. 2004-0109201E5 F- Professions libérales- Travaux en cours Income Tax Act- Section 34 a professional partnership carrying on a secondary non-professional activity may make the election Income Tax Act- Section 4- Subsection 4(1)- Paragraph 4(1)(a) income from a professional practice includes income from a secondary non-professional activity if the practice is a single business 4 July 2005 External T.I. 2005-0117321E5 F- Sens de l'expression "frais de scolarité" Income Tax Act- Section 118.5- Subsection 118.5(3) various components of registration fees qualified including additional fees to out-of-province students Income Tax Act- Section 118.5- Subsection 118.5(3)- Paragraph 118.5(3)(d) detailed listing of charges subject to s. 118.5(3)(d) 14 July 2005 External T.I. 2005-0129441E5 F- Fiducie réputée Income Tax Act- Section 149- Subsection 149(1)- Paragraph 149(1)(o.4) s. 149(1)(o.4) extends to segregated funds Income Tax Regulations- Regulation 4802- Subsection 4802(1.1) a deemed trust under s. 138.1(1)(a) could be a master trust if the conditions in Reg. 5001 are satisfied 19 July 2005 External T.I. 2005-0140871E5 F- Régime de pension étranger Income Tax Act- Section 60- Paragraph 60(j) s. 60(j) deduction available for transfer from Swiss pension plan to RRSP ...

14 February 2022- 11:01pm We have translated 9 more CRA severed letters Email this Content We have published a translation of a ruling released by CRA last week and a further 8 translations of CRA interpretation released in July and June, 2005. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2022-02-09 2021 Ruling 2021-0894621R3 F- Paiement à un membre qui quitte Income Tax Act- Section 3- Paragraph 3(a) lump-sum assistance paid to a member of a religious community, who had taken vows of poverty, on his return to secular life, is not income 2005-07-08 21 June 2005 Internal T.I. 2005-0123551I7 F- Montant forfaitaire de pension alimentaire Income Tax Act- Section 56.1- Subsection 56.1(4)- Support Amount support amounts included annual top-up amounts 2005-06-17 7 June 2005 External T.I. 2005-0121921E5 F- Paiement à un emphytéote Income Tax Act- Section 9- Timing notwithstanding Canderel, tenant inducement payment must be amortized under matching principle if incurred for specific purposes of producing identifiable future revenue Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(b)- Capital Expenditure v. ... Repairs or Running Expense Belgega-finding that inducement paid to prospective emphyteuta (tenant) was capital expenditure- noted 9 June 2005 Internal T.I. 2005-0122511I7 F- Créance irrécouvrable dans une OSBL Income Tax Act- Section 39- Subsection 39(1)- Paragraph 39(1)(c)- Subparagraph 39(1)(c)(iv) loss on interest-bearing loan made by a director to an NPO qualified as BIL if NPO qualified as SBC Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(g)- Subparagraph 40(2)(g)(ii) a debt obligation bearing a reasonable rate of interest satisfies s. 40(2)(g)(ii) 9 June 2005 External T.I. 2004-0097451E5 F- Régimes d'assurances collectives Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a)- Subparagraph 6(1)(a)(i) employees can potentially pay top-up amounts for further benefits or receive taxable compensation for opting for lower benefits Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(f) CRA criteria for determining whether there are 2 separate plans (one of which is fully employee-funded) 6 June 2005 External T.I. 2005-0114481E5 F- Division 149(1)o.2)(ii)(C) Income Tax Act- Section 149- Subsection 149(1)- Paragraph 149(1)(o.2)- Subparagraph 149(1)(o.2)(ii)- Clause 149(1)(o.2)(ii)(B) deferred proceeds receivable for real estate sale do not qualify as real property Income Tax Act- Section 149- Subsection 149(1)- Paragraph 149(1)(o.2)- Subparagraph 149(1)(o.2)(ii)- Clause 149(1)(o.2)(ii)(C) loan that funded rental property acquisition may still qualify after partial sale of portfolio/replacement borrowing can also qualify Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(c)- Subparagraph 20(1)(c)(i) loan that funded rental property acquisition may still qualify as “solely for the purpose of earning income” per s. 149(1)(o.2)(ii)(C) after partial sale of portfolio 9 June 2005 Internal T.I. 2005-0115481I7 F- Avantages imposables/voyages Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) since the particular shareholder-employees who benefited from trips provided by their employer’s supplier were known, the supplier should issue T4As to them Income Tax Regulations- Regulation 200- Subsection 200(2)- Paragraph 200(2)(g) T4As required to be issued to shareholder-employees of customers who were identifiable as receiving free trips – but not for sole proprietor customers 9 June 2005 Internal T.I. 2005-0117851I7 F- Choix du paragraphe 14(1.01) de la Loi Income Tax Act- Section 14- Subsection 14(1.01) taxpayer could not make s. 14(1.01) election where "exempt gains balance" in respect of his business for the year is not nil 7 June 2005 External T.I. 2005-0121551E5 F- Déduction des intérêts- co-emprunteurs Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(c)- Subparagraph 20(1)(c)(i) interest on money borrowed from spouse under line of credit for income-producing purpose is deductible ...

28 March 2022- 11:44pm We have translated 8 more CRA interpretations Email this Content We have published a further 8 translations of CRA interpretation released in April, 2005. ... These are additions to our set of 1,977 full-text translations of French-language Technical Interpretation and Roundtable items (plus some ruling letters) of the Income Tax Rulings Directorate, which covers all of the last 16 ¾ years of releases of such items by the Directorate. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2005-04-15 21 March 2005 Internal T.I. 2005-0119961I7 F- CCPC STATUS Income Tax Act- Section 251.2- Subsection 251.2(2)- Paragraph 251.2(2)(a) moving from one shareholder to 2 equal shareholders generally entails an acquisition of control unless there is deadlock General Concepts- Effective Date effective date of transfer of shares (entailing acquisition of control) cannot precede determination of essential contract elements 29 March 2005 Internal T.I. 2005-0111401I7 F- Article 7306 du Règlement Income Tax Regulations- Regulation 7306 referenced taxation year is the individual's calendar year 2005-04-08 4 April 2005 External T.I. 2005-0110941E5 F- Transfert d'une police d'assurance-vie Income Tax Act- Section 15- Subsection 15(1) factors relevant to determining FMV of life insurance policy Income Tax Act- Section 148- Subsection 148(9) ACB of life insurance policy transferred to shareholder increased by s. 15(1) benefit 2005-04-01 17 March 2005 External T.I. 2005-0118601E5 F- Sale of Shares-Transfer of Family Business Income Tax Act- Section 84.1- Subsection 84.1(2)- Paragraph 84.1(2)(a.1)- Subparagraph 84.1(2)(a.1)(ii) preliminary s. 85(1)(g) exchange transaction for crystallized preferred shares avoided application of s. 84.1(2)(a.1)(ii) Income Tax Act- Section 245- Subsection 245(4) GAAR could apply where previous capital gains crystallization transaction indirectly generated a capital loss on a pref redemption transaction 30 March 2005 External T.I. 2004-0102421E5 F- Placement à rendement progressif Income Tax Regulations- Regulation 7000- Subsection 7000(2)- Paragraph 7000(2)(c) the computation should use the maximum known rate for each period, and assign nil to a period for which no rate is specified 18 March 2005 External T.I. 2004-0070911E5 F- Allocation ou salaire- traitement fiscal Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(b)- Subparagraph 6(1)(b)(iii) meaning of representation allowance 18 March 2005 External T.I. 2004-0089661E5 F- Fiducie personnelle-Résidence principale Income Tax Act- Section 54- Principal Residence- Paragraph (c.1)- Subparagraph (c.1)(ii) the residence being leased to the specified beneficiary does not change that it may be a principal residence to the trust Income Tax Act- 101-110- Section 107- Subsection 107(4) application of s. 107(4) to spouse trust respecting residence turned on whether such trust was terminated by such income interest being distributed to the capital beneficiary during the spouse’s lifetime or on her death Income Tax Act- 101-110- Section 106- Subsection 106(2) s. 106(2) engaged where income interest renounced in favour of capital beneficiary, but not where extinguishment on death 18 March 2005 External T.I. 2005-0117691E5 F- Significant increase in interest in any corp Income Tax Act- Section 55- Subsection 55(3)- Paragraph 55(3)(a)- Subparagraph 55(3)(a)(ii) preliminary transfer of Opco shares to Holdco preliminary to a spin-off engaged the s. 55(3)(a)(ii) exclusion ...

4 April 2022- 10:52pm Our translations of CRA interpretations go back more than 17 years Email this Content We have published a further 8 translations of CRA interpretation released in April and March, 2005. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2005-04-01 23 March 2005 Internal T.I. 2005-0113931I7 F- Safe income on hand calculation: Life Insurance Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) non-deductible life insurance premiums reduced SIOH 2005-03-25 22 March 2005 External T.I. 2005-0112081E5 F- Convention de retraite- lettre de crédit Income Tax Act- Section 207.7- Subsection 207.7(2) where LC used to secure RCA benefits and refundable tax generated on funding of LC fees, refundable tax not recoverable based on paying the benefits Income Tax Act- Section 207.5- Subsection 207.5(1)- Refundable Tax use of letter of credit to secure RCA benefits Income Tax Act- Section 207.5- Subsection 207.5(2) election not available to custodian holding an LC 22 March 2005 Internal T.I. 2005-0115451I7 F- Extinction d'une remise de dette Income Tax Act- Section 80- Subsection 80(1)- Forgiven Amount no deduction where forgiven debt is subsequently restored pursuant to improved fortunes clause Income Tax Act- Section 80.01- Subsection 80.01(10) repayment deduction under s. 80.01(10) General Concepts- Effective Date CRA assesses based on the state of affairs at year end 2005-03-18 1 February 2005 External T.I. 2004-0083921E5 F- Société mandataire, gain & CIÉ Income Tax Act- Section 126- Subsection 126(7)- Non-Business-Income Tax US taxes paid by a corporation based on falsely representing that the related gain was its gain could generate a FTC to the Canadian shareholder for which it in fact was agent 4 February 2005 External T.I. 2004-0085361E5 F- Changement de résidence: émigration Income Tax Act- Section 122.6- Eligible Individual- Paragraph (c) required repayment of CCB if received after departure from Canada 31 January 2005 External T.I. 2004-0091301E5 F- Déductions à la source-avantage autre qu'en argent Income Tax Act- Section 153- Subsection 153(1)- Paragraph 153(1)(a) no source deductions required where a non-cash benefit is the sole remuneration Income Tax Act- Section 153- Subsection 153(1.1) no source deductions required where free accommodation was the intern's only benefit 4 February 2005 External T.I. 2004-0093611E5 F- Don par testament d'un bien culturel Income Tax Act- Section 39- Subsection 39(1)- Paragraph 39(1)(a)- Subparagraph 39(1)(a)(i.1)- Clause 39(1)(a)(i.1)(B) s. 39(1)(a)(i.1) unavailable where capital gain realized under s. 104(4)follow-up in 2005-0131741E5 F 15 March 2005 Internal T.I. 2004-0108721I7 F- Don d'une licence Income Tax Act- Section 118.1- Subsection 118.1(1)- Total Charitable Gifts gift of a non-exclusive software licence was a gift of property Income Tax Act- Section 248- Subsection 248(1)- Property excepting WIP, definition of property is no broader than term’s ordinary meaning ...

11 April 2022- 11:11pm We have translated 11 more CRA severed letters Email this Content We have published translations of 3 CRA severed letters released last week and a further 8 translations of CRA interpretation released in March and February, 2005. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2022-04-06 2017 Ruling 2017-0696791R3 F- Reduction of PUC/capital Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(c)- Subparagraph 20(1)(c)(i) interest on money borrowed by Subco for distribution of share-capital account to its parent is deductible if the Subco property continues generating business incomeAmended and supplemented by 2017-0696792R3 F Income Tax Act- Section 51- Subsection 51(1) s. 51(1) will apply where convertible note, that was issued as boot, will be converted to sharesAmended and supplemented by 2017-0696792R3 F 2019 Ruling 2017-0696792R3 F- Internal reorganization Amending and supplementing 2017-0696791R3 F 7 January 2022 External T.I. 2020-0866751E5 F- CEWS and government financial assistance Income Tax Act- Section 125.7- Subsection 125.7(4) government assistance based partly on payroll levels would not be qualifying revenue if normal accounting practice would be to contra payroll expense Income Tax Act- Section 125.7- Subsection 125.7(1)- Qualifying Revenue government assistance that under normal accounting practice was applied to reduce recorded expenses would not be qualifiying revenue 2005-03-11 3 March 2005 External T.I. 2004-0096371E5 F- Revenu tiré d'un emploi et 110(1)f)(iii) Income Tax Act- 101-110- Section 110- Subsection 110(1)- Paragraph 110(1)(f)- Subparagraph 110(1)(f)(iii) no special tests under s. 110(1)(f)(iii) for determining whether the individual is self-employed 2005-03-04 7 February 2005 External T.I. 2004-0101421E5 F- Subsection 111(5.1) General Concepts- Fair Market Value- Other depreciable assets’ value inferred from the share purchase price Income Tax Act- Section 111- Subsection 111(5.1) FMV of assets should be established on a push-down basis from the share purchase price, but can be allocated based on an appraisal 28 February 2005 Internal T.I. 2004-0103991I7 F- Remboursement de frais de scolarité Income Tax Act- Section 56- Subsection 56(1)- Paragraph 56(1)(n) agreement of employer to pay tuition would have been taxable under s. 6(3) if a benefit Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) payment of tuition fees conditional on a return to extended employment was not a taxable benefit 28 February 2005 External T.I. 2004-0104121E5 F- Détermination du statut de résidence Income Tax Regulations- Regulation 2607 individual working in Ontario but visiting Quebec family home twice monthly likely was resident in Quebec 7 February 2005 External T.I. 2005-0111431E5 F- Death of a Taxpayer- Deduction of CCDE Income Tax Act- Section 66.2- Subsection 66.2(2) CCDE balance cannot be deducted in terminal return or by estate Income Tax Act- Section 70- Subsection 70(5.2) no s. 70(5.2) deduction where CCDE balance arose “through” a partnership 23 February 2005 External T.I. 2004-0093921E5 F- Déménagement d'un employé-Paiement de frais Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) payment of house-hunting fee for new hire was non-taxable 2005-02-25 17 February 2005 External T.I. 2004-0091811E5 F- Exemption pour résidence principale Income Tax Act- Section 54- Principal Residence separate municipal addresses not determinative that basement occupied by son and ground floor occupied by mother were two housing units Income Tax Act- Section 54- Principal Residence- Paragraph (a) where residence held by son and mother in equal co-ownership is 2 units each occupied separately, each could technically access the exemption for only a ¼ interest 17 February 2005 External T.I. 2004-0104331E5 F- Indemnisation et autres paiements Income Tax Act- Section 5- Subsection 5(1) portions of settlement payment that compensated for lost vacation credits and reimbursed for psychotherapy and medication costs were taxable under s. 5(1) ...

2 May 2022- 11:15pm We have translated 8 more CRA interpretations Email this Content We have published a further 8 translations of CRA interpretation released in January of 2005. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2005-01-28 5 January 2005 External T.I. 2004-0085571E5 F- Art. XXIV de la Convention Canada-France Treaties- Income Tax Conventions- Article 25 Art. 24(1) of Canada-France Convention would provide the principal residence exemption to a Canadian citizen if France accorded the exemption to a French national residing in Canada 6 January 2005 External T.I. 2004-0088791E5 F- Paragraphe 4803(2) du Règlement Income Tax Regulations- Regulation 4803- Subsection 4803(2) Reg. 4803(2) satisfied if any of its paragraphs is satisfied 2005-01-21 19 January 2005 External T.I. 2004-0091601E5 F- Incitatif versé- taux d'intérêt réduit Income Tax Act- Section 53- Subsection 53(2.1) ss. 13(7.4) and 53(2.1) elections unavailable re acquired rental property for cashback received from mortgage lender to offset high interest rate Income Tax Act- Section 12- Subsection 12(2.2) s. 12(2.2) election available to reduce mortgage interest, re cashback received from mortgage lender, to reduce extra interest incurred in two initial years Income Tax Act- Section 12- Subsection 12(1)- Paragraph 12(1)(x)- Subparagraph 12(1)(x)(v) s. 12(1)(x) applies (subject to s. 12(2.2) election) to lump-sum mortgage interest rebate except to the extent the amount was reported as s. 9 income 11 January 2005 External T.I. 2004-0091981E5 F- Revenu de placements:Indiens inscrits Other Legislation/Constitution- Federal- Indian Act- Section 87 interest income of status Indians on loans to on-reserve businesses carrying on their business activities off-reserve were not exempted 10 January 2005 Internal T.I. 2004-0091251I7 F- Définition d'automobile Income Tax Act- Section 248- Subsection 248(1)- Automobile- Paragraph (e)- Subparagraph (e)(iii) exclusion applies even where the occupant is self-employed rather than an employee of the business that owns (or leases) the truck 2005-01-14 13 January 2005 External T.I. 2004-0097911E5 F- Crédit d'impôt pour études Income Tax Act- Section 118.6- Subsection 118.6(1)- Qualifying Educational Program education credit unavailable where the course consisted of discrete 4-day sessions separated by a month or more – but tuition credit may be available 13 January 2005 External T.I. 2004-0101701E5 F- Bien substitué Income Tax Act- Section 248- Subsection 248(5)- Paragraph 248(5)(b) substituted property definition in s. 248(5)(b) does not apply for the purposes of s. 7(1.1) Statutory Interpretation- Interpretation/Definition Provisions deeming provision only engaged when the referenced term is used Income Tax Act- Section 7- Subsection 7(1.1) s. 248(5)(b) inapplicable to s. 7(1.1) 13 January 2005 External T.I. 2004-0103281E5 F- dons et avantages Income Tax Act- Section 248- Subsection 248(32) value of advantage should be based on FMV and ignore sales tax and tips ...

In finding that the appellants had not acquired the FMO units in step 2 above (which continued to be beneficially owned by the RRSP) and, therefore, did not realize a capital loss in step 6 above, Smith J stated: Since it was intended … that the FMO units allegedly acquired from TOM on December 23, 2005 would be repurchased for cancellation on December 28, 2005 resulting in the alleged capital losses, I find as a fact that the Appellants had “absolutely no discretion” … as to the disposal of those units. The only role of the Appellants was to hold legal title to the units for a few days. … [I]t cannot be said that the Appellants enjoyed “the three key attributes of ownership, namely, risk, use and possession” …. ... The Queen, 2021 TCC 42 under s. 185(3), s. 185(1), General Concepts – Ownership, General Concepts – Sham, s. 184(3) and s. 245(4). ...

5 September 2019- 11:40pm CRA settles the Wheaton transfer-pricing dispute by accepting a 30% mark-up on the head office expenses Email this Content As noted in the previous post, Wheaton’s appeal of CRA reassessments – which applied s. 247(2) to effectively treat essentially all of the income of Wheaton’s offshore subsidiaries (“Wheaton International”) from precious metal streaming contracts as income of Wheaton – was settled in December 2018. The settlement provided that for all its 2005 and subsequent taxation years (including for the indefinite future, but subject to no changes in law), the only applicable changes to the transfer-pricing practices of Wheaton were that: The service fee charged by Wheaton for the services provided to Wheaton International will be adjusted to: Include capital-raising costs associated with Wheaton for the purpose of funding streaming transactions entered into by Wheaton International; and Increase the mark-up applied to Wheaton’s cost of providing services to Wheaton International, including the above capital-raising costs, from the current 20% to 30%. ...

9 May 2022- 11:00pm We have translated 8 more CRA interpretations Email this Content We have published a further 8 translations of CRA interpretation released in January of 2005. ... Bundle Date Translated severed letter Summaries under Summary descriptor 2005-01-14 10 January 2005 External T.I. 2004-0095361E5 F- Dommages Income Tax Act- Section 3- Paragraph 3(a) courts have preferred to tax on the basis of an identified source Income Tax Act- Section 56- Subsection 56(1)- Paragraph 56(1)(a)- Subparagraph 56(1)(a)(i) damages for negligence resulting in not becoming entitled to QPP would not be income under s. 56(1)(a)(i) 6 January 2005 Internal T.I. 2004-0100241I7 F- Imposition des rentes au décès Income Tax Act- Section 148- Subsection 148(2)- Paragraph 148(2)(b) no disposition of PAC under s. 148(2)(b) – but disposition if estate elects to commute Income Tax Act- Section 148- Subsection 148(9)- Proceeds of Disposition- Paragraph (d) disposition gain based on accumulating fund 2005-01-07 21 December 2004 External T.I. 2004-0085481E5 F- Titres détenus par une compagnie d'assurance Income Tax Act- Section 142.2- Subsection 142.2(1)- Mark-to-Market Property MFT units not mark-to-market property Income Tax Act- Section 248- Subsection 248(1)- Inventory per Friesen, securities held on income account are inventory 21 December 2004 External T.I. 2004-0091011E5 F- Déductibilité-primes d'assurance-responsabilité Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Start-Up and Liquidation Costs premiums for professional liability coverage incurred after the cessation of practice for continued coverage re that practice, are deductible 21 December 2004 External T.I. 2004-0093361E5 F- Report de l'impôt minimum de remplacement-décès Income Tax Act- Section 120.2- Subsection 120.2(2) if the tax generated in the terminal year is insufficient to recover the AMT paid in the preceding year, the deceased individual can no longer utilize a s. 120.2(2) carryback 21 December 2004 Internal T.I. 2004-0096211I7 F- Remise de dettes Income Tax Act- Section 80.01- Subsection 80.01(4) no need for s. 80.01(4) election if assets of sub in the amount of the debt owing to the parent are distributed on the winding up in payment of that debt 16 December 2004 Internal T.I. 2004-0100891I7 F- Prestations d'assistance sociale Income Tax Act- Section 81- Subsection 81(1)- Paragraph 81(1)(h) government and user-funded assistance with accommodation and care while attending psychiatric day hospital was exempted 16 December 2004 Internal T.I. 2004-0098631I7 F- Déduction- Résidence des membres du clergé Income Tax Act- Section 8- Subsection 8(1)- Paragraph 8(1)(c) based on Noseworthy, RC lay pastoral workers (in one case, authorized to baptize on occasion) were not regular ministers ...