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Profit- Real Estate application of capital gains criteria on woodlots to sale of rights to extract sand 4 March 2015 External T.I. 2014-0550761E5 F- 44(1) et disposition partielle Income Tax Act- Section 248- Subsection 248(1)- Former Business Property part of building treated as former business property Income Tax Act- Section 44- Subsection 44(1) partial destruction of building Income Tax Act- Section 54- Proceeds of Disposition- Paragraph (f) insurance proceeds received for destruction of part of building: compensation for property damaged rather than destroyed Income Tax Act- Section 12- Subsection 12(1)- Paragraph 12(1)(f) inclusion of insurance proceeds applied to building repair 20 February 2015 External T.I. 2014-0559501E5 F- pompiers volontaires Income Tax Act- Section 118.06- Subsection 118.06(1) secondary services include emergency preparedness training and fire alarm verifications 12 February 2015 External T.I. 2014-0550771E5 F- Allocation à des bénévoles- chantier particulier Income Tax Act- Section 118.1- Subsection 118.1(1)- Total Charitable Gifts mission work volunteers foregoing allowances Income Tax Act- Section 3- Business Source/Reasonable Expectation of Profit modest compensation to volunteers qua independent contractors not income Income Tax Act- Section 5- Subsection 5(1) quite unrepresentative remuneration: exempt Income Tax Act- Section 6- Subsection 6(6) mission work under 2 years in LDCs 4 February 2015 Internal T.I. 2014-0561571I7 F- Remboursement des frais d'activité physique Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) reimbursement of employee physical activity expenses is taxable benefit 4 March 2015 External T.I. 2014-0562151E5 F- Frais de psychothérapie – dépense d'entreprise Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Income-Producing Purpose “but for” test applied to determine deductibility/potentially creditable item can instead be expense Income Tax Act- Section 248- Subsection 248(28) potential choice between claiming therapy expense and credit 4 March 2015 Internal T.I. 2015-0567791I7 F- Exemption résidence principale louée à un enfant Income Tax Act- Section 54- Principal Residence house leased to son with CCA claimed can be designated as principal residence 5 March 2015 External T.I. 2014-0553241E5 F- Bornes de recharge – avantage imposable Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) no benefit from free car-charging station 10 October 2014 APFF Roundtable, 2014-0538061C6 F- Revenu protégé et fiducie Income Tax Act- Section 55- Subsection 55(2) valid allocation of safe income dividend by discretionary trust to corporate beneficiary ...

The ARQ had denied CEE deductions under the Quebec equivalent of ITA, s. 66.1(6) – Canadian exploration expense – (f)(vi), which applied to “any expense that may reasonably be related to a mine…that has come into production in reasonable commercial quantities or to an actual or potential extension of such a mine.” ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2018-04-11 6 October 2017 APFF Roundtable Q. 1, 2017-0708971C6 F- Inactive Corporations & subs. 162(7) ITA Income Tax Act- Section 162- Subsection 162(7) no penalty imposed where failure to file a nil T2 return Income Tax Act- Section 150- Subsection 150(1)- Paragraph 150(1)(a) requirement for Canco to file nil T2 returns, but no penalty 6 October 2017 APFF Roundtable Q. 2, 2017-0709001C6 F- T4A filing obligation Income Tax Regulations- Regulation 200- Subsection 200(1) penalty applicable but not necessarily applied for failure to complete fee box Income Tax Act- Section 162- Subsection 162(7) "temporary" policy for not applying penalties for failure to issue T4As to independent contractors 6 October 2017 APFF Roundtable Q. 3, 2017-0709011C6 F- Désignation d’un bien comme résidence principale Income Tax Act- Section 54- Principal Residence- Paragraph (c) an individual accessing the “+1” rule on a principal residence disposition need not complete Form 2091 Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(b) no loss of bonus year if standard designation Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(b) no loss of bonus year if standard designation 6 October 2017 APFF Roundtable Q. 4, 2017-0709021C6 F- CDA and Winding-up of a corporation Income Tax Act- Section 88- Subsection 88(2)- Paragraph 88(2)(b)- Subparagraph 88(2)(b)(i) CRA will accommodate a s. 88(2)(b)(i) capital dividend election based on an estimated CDA balance 6 October 2017 APFF Roundtable Q. 5, 2017-0709031C6 F- T2054- Short Cut Method Income Tax Act- Section 184- Subsection 184(3) the “short-cut method” for short-circuiting a Pt III assessment is “generally" available 2013-10-23 25 September 2013 External T.I. 2013-0488571E5 F- Repayment of a dividend General Concepts- Effective Date taxpayer generally cannot change his legal position through a subsequent board or shareholder resolution Income Tax Act- Section 82- Subsection 82(1)- Paragraph 82(1)(a) dividend declared cannot be nullified by subsequent board or shareholder resolution 2013-10-09 25 November 2012 Roundtable, 2013-0479401C6 F- Employés et Achat Ltée – commentaires panel ARC Income Tax Act- Section 251- Subsection 251(1)- Paragraph 251(1)(c) Buyco that is formed by employer to purchases departing employees’ shares is NAL Income Tax Act- Section 84.1- Subsection 84.1(1)- Paragraph 84.1(1)(b) generally a deemed dividend on repurchase of departing employees’ shares by employer-funded Buyco 11 July 2013 External T.I. 2013-0490591E5 F- Montant pour une personne à charge Income Tax Act- Section 118- Subsection 118(1)- Paragraph 118(1)(b)- Subparagraph 118(1)(b)(ii) conditions not satisfied where children did not live with non-supporting husband following separation Income Tax Act- Section 248- Subsection 248(1)- Common-Law Partner can be in a conjugal relationship even if live in the same home for only half of each year Income Tax Act- Section 2- Subsection 2(1) sole fact of a non-resident having a conjugal relationship with a Canadian resident does not render him a resident 2013-10-02 18 September 2013 External T.I. 2012-0462061E5 F- Amount included in the income of the annuitant Income Tax Act- Section 146- Subsection 146(8.3) no application of s. 148(8.3) where excluded withdrawal followed by contribution and withdrawal from own RRSP 25 September 2013 External T.I. 2013-0477571E5 F- Partnership- fin. fees and mng fees Income Tax Regulations- Regulation 402- Subsection 402(7) service performed by service to partnership must have been previously performed by a partnership employee and relate to a short-term task ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2018-05-02 9 April 2018 External T.I. 2017-0714381E5 F- Application de l'article 67.1 Income Tax Act- Section 67.1- Subsection 67.1(1) hockey game tickets purchased by a hockey player recruiter are subject to s. 67.1 9 April 2018 Internal T.I. 2017-0731251I7 F- Activités mondaines Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) computation of the $150 cost per employee safe harbour for employee parties 2018-04-11 6 October 2017 APFF Financial Strategies and Financial Instruments Roundtable Q. 8, 2017-0712621C6 F- Dépôt en monnaie étrangère-Immobilisation Income Tax Act- Section 70- Subsection 70(5) FX deposit treated as debt rather than s. 39(1.1) currency Income Tax Act- Section 39- Subsection 39(1.1) non-application to FX deposits 6 October 2017 APFF Financial Strategies and Financial Instruments Roundtable Q. 9, 2017-0705231C6 F- Gift of a Life Insurance Policy and Subrogated Own Income Tax Act- Section 148- Subsection 148(7)- Paragraph 148(7)(a) gain by estate on gift of policy based on cash surrender value Income Tax Act- Section 118.1- Subsection 118.1(1)- Total Charitable Gifts- Paragraph (c)- Subparagraph (c)(i)- Clause (c)(i)(C) claim in terminal return for charitable gift made by estate under individual’s will Income Tax Act- Section 118.1- Subsection 118.1(1)- Total Charitable Gifts- Paragraph (c)- Subparagraph (c)(i)- Clause (c)(i)(A) no guidance on whether designating a charity as a contingent policyholder generates a charitable credit 6 October 2017 APFF Financial Strategies and Financial Instruments Roundtable Q. 10, 2017-0705201C6 F- Capital loss- repayment of loan Income Tax Act- Section 40- Subsection 40(3.3) the foreign currency deemed to be disposed of under s. 39(2) by an FX borrower on repaying a USD loan is not identical property to the USDs received by it under a replacement loan Income Tax Act- Section 248- Subsection 248(1)- Property foreign currency is not property for purposes of the suspended-loss rules 6 October 2017 APFF Financial Strategies and Financial Instruments Roundtable Q. 14, 2017-0708511C6 F- T1135 and 162(7) penalty Income Tax Act- Section 162- Subsection 162(7) penalty for late-filing of a T1135 will be imposed automatically Income Tax Act- Section 152- Subsection 152(4)- Paragraph 152(4)(a)- Subparagraph 152(4)(a)(i) failure to file a T1135 treated as a misrepresentation – but neglect etc. ground to be determined 6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 16, 2017-0705181C6 F- Hedging & George Weston Limited Income Tax Act- Section 9- Capital Gain vs. ...

Accordingly (with the same exception) we have not generated further posts on these responses – but, for convenience of reference, provide the table below linking to the official responses and (for the nine questions that had interpretive content) our summaries thereof and our descriptors. ... VII 16 May 2018 IFA Roundtable Q. 2, 2018-0749181C6- Principal Purpose Test in MLI Treaties- Multilateral Instrument- Article 7- Paragraph 7(1) CRA will not provide quick and crisp PPT guidance 16 May 2018 IFA Roundtable Q. 3, 2018-0749171C6- Interaction s.91(5) s.93.1(2)(d)(i) Income Tax Act- Section 91- Subsection 91(5) appplication of s. 91(5) to LP shareholder of FA Income Tax Regulations- Regulation 5900- Subsection 5900(3) corporate-owned LP treated transparently to avoid a surplus anomaly re s. 91(5) dividend Income Tax Act- Section 93.1- Subsection 93.1(2)- Paragraph 93.1(2)(d)- Subparagraph 93.1(2)(d)(i) s. 93.1(2)(d)(i) limit does not reflect acquisition-debt interest deduction of LP 16 May 2018 IFA Roundtable Q. 4, 2018-0748171C6- Penalties for Non-Residents Income Tax Act- Section 247- New- Subsection 247(4) potential extension/waiver where incorrect (no PE) claim for Treaty relief Income Tax Act- Section 220- Subsection 220(3) a non-resident who incorrectly claimed a no-PE Treaty exemption can apply for penalty relief 16 May 2018 IFA Roundtable Q. 5, 2018-0745501C6- Meaning of “merged or combined” in 40(3.5)(c)(i) Income Tax Act- Section 40- Subsection 40(3.5)- Paragraph 40(3.5)(c)- Subparagraph 40(3.5)(c)(i) suspended loss on the sale of CFA to Subco was not de-suspended on s. 88(3) wind-up of CFA Income Tax Act- Section 88- Subsection 88(3) s. 88(3) wind-up of CFA formed a new corporation 16 May 2018 IFA Roundtable Q. 6AB, 2018-0748191C6- MAP Program, APAs 16 May 2018 IFA Roundtable Q. 7, 2018-0750261C6 Income Tax Act- Section 39- Subsection 39(2) “sustaining” a s. 39(2) loss on a USD obligation requires more than locking-in the equivalent Canadian-dollar amount 16 May 2018 IFA Roundtable Q. 8, 2018-0749481C6- Update on Entity Classification Income Tax Act- Section 248- Subsection 248(1)- Corporation French SLP a corp Income Tax Act- Section 96 French SLP established as an SECS viewed as corp/grandfathering relief re LLPs/LLLPs 16 May 2018 IFA Roundtable Q. 9, 2018-0748151C6- T1134s & Country by Country Reporting Income Tax Act- Section 233.4- Subsection 233.4(4) comparison of T1134 and CbC reporting 16 May 2018 IFA Roundtable Q. 10, 2018-0748161C6- Proposed New Filing Deadline T1134 Income Tax Act- Section 233.4- Subsection 233.4(4) CRA may provide filing extensions when the T1134 filing deadline has been accelerated ...

., takes monthly GP draws) for its management and admin services, a less frequent performance fee, carry or promote will not per se be subject to GST/HST – but the fact that the limited partners were willing for their partnership to bear this less frequent charge may indicate that the regular actual charges were less than the FMV of the GP’s monthly services. ... Summaries of GST/HST Notice 308 GST/HST and Investment Limited Partnerships July 2018 under ETA s, 272.1(3), s. 272.1(8), s. 132(6), s. 123(1) – investment limited partnership, s. 225.2(2), s. 240(3)(c), 238(2), 238(2.1), Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations, s. 3(e), s. 54(1), s. 55(2), s. 55(4)(c) and s. 73(1). ...

Topic Descriptor 15 May 2019 IFA Roundtable Q. 1, 2019-0798831C6- Thin capitalization Income Tax Act- Section 18- Subsection 18(5)- Equity Amount- Paragraph (a)- Subparagraph (a)(ii) contributed surplus will cease to be recognized if the contributor ceases to be a specified non-resident shareholder 15 May 2019 IFA Roundtable Q. 2, 2019-0798751C6- Shared workspaces and PE Treaties- Income Tax Conventions- Article 5 a Canadian shared-work space can readily constitute a PE 15 May 2019 IFA Roundtable Q. 3, 2019-0798741C6- Participating Debt Interest & US Treaty Treaties- Income Tax Conventions- Article 11 contingent interest under Art. XI(6)(b) of the US Treaty does not taint contemporaneous fixed interest 15 May 2019 IFA Roundtable Q. 4, 2019-0798721C6- 78(1)(b)(ii) deemed loan & thin capitalization Income Tax Act- Section 18- Subsection 18(5)- Outstanding Debts to Specified Non-Residents- Paragraph (a)- Subparagraph (a)(ii) unpaid simple interest that is deemed to be a loan by s. 78(1)(b)(ii) generally is not outstanding debts to specified non-residents Income Tax Act- Section 78- Subsection 78(1)- Paragraph 78(1)(b)- Subparagraph 78(1)(b)(ii) deemed s. 78(1)(b)(ii) loan is not also deemed to bear interest 15 May 2019 IFA Roundtable Q. 5, 2019-0798811C6- Functional currency Income Tax Act- Section 261- Subsection 261(11) a functional currency reporter realizes capital gains or losses from FX fluctuations when it receives a Cdn$ tax refund for an earlier functional currency year 15 May 2019 IFA Roundtable Q. 6, 2019-0798861C6- Non-resident filing income tax return Income Tax Act- Section 150- Subsection 150(5)- Paragraph 150(1)(b) non-resident partners of a partnership that has disposed of TCP must file Part I returns even if a s. 116 certificate indicates that all Part I tax is paid Income Tax Act- Section 150- Subsection 150(1)- Paragraph 150(1)(a) "tax is payable" even if already paid 15 May 2019 IFA Roundtable Q. 7, 2019-0798821C6- Subsection 246(1) and Non-Residents Income Tax Act- Section 246- Subsection 246(1)- Paragraph 246(1)(a) a s. 15(1)-relevant s. 246(1)(a) benefit generally will not subject a non-resident to Part I tax 15 May 2019 IFA Roundtable Q. 8, 2019-0798841C6- Active Trade or Business Test under the LOB Clause Treaties- Income Tax Conventions- Article 29A Art. ...

Summaries of 10 January 2020 External T.I. 2019-0819431E5 under s. 120.4(1) – “related business”, “excluded shares” – (c) and "excluded amount"- (e)(ii). ...

CRA provided an example of Holdco having previously acquired Opco for $300, at a time that one of the subsidiaries of Opco (Subco 2, whose shares had a nil ACB) had direct safe income of $200 – and, since then, Subco 2 generated an additional $150 of safe income, for a total of $350. ... These comments appear to indicate that CRA considers that a spin-off transaction should be preceded by a computation not only of inside and outside basis, but also of direct and indirect safe income – and if these computations show a potential ”misalignment” that could favour the taxpayer after taking into account any potential safe income capitalization transactions, CRA expects there to be preliminary transactions to ensure that there is an appropriate bump in the ACB of the shares of the spinner corporation that are transferred to the spinco. ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2021-02-10 29 September 2020 External T.I. 2018-0757501E5 F- Crédit pour intérêts sur les prêts étudiants Income Tax Act- Section 118.62 capitalization of interest on a novation would constitute its payment – but novated loan would be a new non-student loan Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(d) capitalization of unpaid interest by way of novation constituted its payment General Concepts- Payment & Receipt capitalization of interest on a novation under Quebec law would constitute its payment 2009-04-10 27 March 2009 Internal T.I. 2009-0308111I7 F- Crédit d'impôt pour enfant Income Tax Act- Section 118- Subsection 118(1)- Paragraph 118(1)(b.1) s. 118(9.1) applies to death of dependant child, but not to parent 2009-04-03 23 March 2009 External T.I. 2008-0293131E5 F- Prestations reçues par une succession Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(f) amounts received by estate in settlement of deceased’s action for unpaid employment-termination disability were taxable Income Tax Act- Section 70- Subsection 70(2) amounts received by estate in settlement of deceased’s action for unpaid disability were rights and things Income Tax Act- Section 248- Subsection 248(1)- Death Benefit survivor benefit in settlement of rights under a wage loss replacement plan could be a death benefit 2009-03-27 19 March 2009 Internal T.I. 2009-0306971I7 F- 6801(d): Traitement fiscal pour l'employé Income Tax Regulations- Regulation 6801- Paragraph 6801(d) DSU cash-out amount is employment income Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) appreciation in DSUs is not a capital gain 18 March 2009 External T.I. 2009-0309211E5 F- Crédits d'impôt personnels Income Tax Act- Section 118.92 ordering of tuition, then medical expense, then student loan credits Income Tax Act- Section 118- Subsection 118(1)- Paragraph 118(1)(d) satisfaction of clothing needs of institutionalized adult child would be sufficient to engage the credit Income Tax Act- Section 118- Subsection 118(1)- Paragraph 118(1)(b) parent separated for part of year could claim the wholly dependent person credit only if he did not deduct support 5 March 2009 External T.I. 2008-0279241E5 F- Prestation consécutive au décès Income Tax Act- Section 248- Subsection 248(1)- Death Benefit benefit paid on union member’s death could not be a death benefit (no employer-employee relationship Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(j) amount paid to union member could be treated as a refund of union dues with the balance taxable under s. 6(1)(j) Income Tax Act- Section 70- Subsection 70(2) lump sum paid to a union member on death could be in satisfaction of a right or thing 2009-03-20 11 March 2009 External T.I. 2009-0306601E5 F- Remboursement de cotisations syndicales Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(j) amounts received from a union that are not a reimbursement of union dues generally are exempt Income Tax Act- Section 3- Paragraph 3(a) Fries applied re exempt distributions from a union ...