Search - 教職 奨学金免除

After observing that “[p]rovincial income tax is not deductible … since … [it] is not an expense incurred for the purpose of gaining or producing income but rather is an expense incurred because income was earned,” CRA stated: Capital tax is not a tax that is calculated on the income of a business but rather a tax calculated on the paid-up capital of the corporation. ... The 1991Budget of the Department of Finance is consistent with this approach. … Interest on capital tax will be deductible if the capital tax is deductible by virtue of section 9. ...

. … [T]he discharge from bankruptcy is not retroactive to the time the individual was declared bankrupt but … is effective from the date the proposal is approved by the court. … Although section 128 does not recognize proposals filed under the BIA, the discharge from bankruptcy [in] 2005 does not invalidate the filing and assessment of pre- and post-bankruptcy tax returns made prior to the date of discharge. … [T]he individual was bankrupt in the 2003 … 2004 … and the 2005 taxation year[s]. ... Since the approval of the proposal by the Court and the discharge of the individual's bankruptcy does not amount to an unconditional discharge under paragraph 128(2)(g) … we do not believe that this paragraph deems the unused portion of his tuition tax credits to be nil. Consequently, the individual may carry forward the unused portion of his or her tuition tax credits at the end of the 2005 taxation year … to the 2006 taxation year pursuant to section 118.61. ...

A copy of the amended T4 slips for a given taxation year must be sent to the … CRA … and all affected employees informing them that they may request an adjustment to their income tax return for the particular taxation year. ...

The Directorate responded: In light of paragraph 18 of the Bulletin [IT-518R] … and … Stapley, we are of the view that the use of the expression "enjoyment of entertainment" refers to the act of being entertained rather than to tangible property such as a book, musical instrument or Blu Ray disc player, the use of which could potentially provide a form of entertainment. ...

.-- summary under Paragraph 149.1(4)(a) Summary Under Tax Topics- Income Tax Act- Section 149.1- Subsection 149.1(4)- Paragraph 149.1(4)(a) foundation’s registration subject to revocation because it had invested in a Delaware partnership (with stated separate existence) carrying on business A Quebec private foundation, which had invested in a foreign partnership (FP) that was governed by the Delaware Revised Uniform Partnership Act (DRUPA), submitted that “the FP is a separate legal entity from its members under the statutory provisions of the … DRUPA … by virtue of which it was created and consequently it is the FP that operates the business and not the members,” so that its registration was not subject to revocation under s. 149.1(4)(a). ...

In finding that the condition in s. 22, that there still be outstanding accounts receivable that were required to be included in computing Amalco’s income in respect of that business, appeared to not be met, CRA stated: The only inclusion in income [of] Amalco … in respect of accounts receivable of Predecessor 1 is under 12(1)(d) and it includes in its income a reserve (there is no presumption that the underlying receivable was included by Amalco in its income). Respecting the requirement that Amalco have carried on the Business, the Directorate stated: [Y]ou express the view that because Amalco sold the assets used in the Businesses … minutes after the amalgamation, it did not “carry on the business” of Predecessor 1, hence the election under section 22 was not valid. … That view might arguably be consistent with … Gillen …. However, the Directorate concluded that the election was satisfied (on the basis that the other conditions of s. 22 were satisfied and the business was continued) stating: Provided there is no disruption in the continued operation of the business … the context and purpose of section 22 are satisfied where a corporation resulting from an amalgamation that is governed by section 87 or its predecessor have included receivables from that business in their income and have used property in carrying on that business. ...

According to … Kieboom …, subsection 75(2) could, however, apply where the shares are not subscribed for consideration equal to their fair market value. There is nothing in the Facts to allow us to conclude that Mother transferred any additional economic interest or additional … value to Trust at the time of the freeze. ...

. … [I]f a child is living with another individual who is providing support for the child at the time of the annuitant's death, the child would not be considered to be financially dependent upon the deceased for support at that time. While Individual A's father did make some financial contributions for… care, it was the Crown who supported [him] …. Consequently … Individual A would not be considered to be financially dependent on the deceased at the time of death for the purpose of a deduction under paragraph 60(l)….. ...

CRA stated: [P]aragraph 80.4(3)(b) provides that subsection 80.4(2) does not apply if the loan or debt is included in the debtor's income under another provision of Part I …. ... However, an assessment under subsection 15(2) is not precluded even if the taxpayer has voluntarily declared a benefit under section 80.4, as subsection 15(2) has priority over section 80.4, as stated in paragraph 10 of … IT-421R2 …. ...

. … In addition … February 24, 2004 Legislative Proposals … which provides relief from the application of the loss limitation rule in subsection 93(2) in certain circumstances, confirms, in our view, that this provision is technically applicable in a situation where a loss on the disposition of shares of a FA is solely due to a currency fluctuation. ...