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CRA responded: [S]subparagraph 12(1)(x)(iii) does not apply because it … was not given as an inducement to the taxpayer or the trust to undertake certain activities. … Hudson Bay Mining and Smelting … [found] that paragraph 12(1)(x) was not applicable to the amount received by the taxpayer because the taxpayer was not the one who made or incurred the expenditure …. [S]ubparagraph 12(1)(x)(iv) does not apply because it was the trust that incurred or made the Part XII.4 tax expenditure in respect of which the credit was received, not Corporation A. … … This interpretation of paragraph 12(1)(x) … appears to be consistent with … [the] Explanatory Notes ...

Can the minor child be considered, in these Scenarios, to have sole beneficial interest in the amounts payable under the annuity as required by s. 60(l)(ii)(B) as it was proposed to be amended [which stipulated that the annuity be one "under which the taxpayer, or a trust under which the taxpayer is the sole person beneficially interested in amounts payable under the annuity, is the annuitant …"]? CRA responded: February 27, 2004 … Legislative Proposals … indicate … that the child will be able to benefit from the provisions of paragraph 60(l) as long as the child is the only beneficiary of the trust, before the child’s death, who has an interest in the amounts payable under the annuity. Nowhere in the Act is the expression "amounts payable under the annuity" defined. … Pratte J.A. in Bensol Customs Brokers … explain[ed] the scope of the word “under”: "A claim is made under a statute, in my view, when that statute is the law which, assuming the claim to be well founded, would be the source of the plaintiff's right". … Under this analysis, therefore, the annuity must be the source of the beneficiary's right to collect. … [I]t is our view that the annuities described in these Scenarios would be annuities described in clause 60(l)(ii)(B) to the extent that the Legislative Proposals are adopted. ...

In accordance with [Reg.] 4901(1) … a prescribed investment for a registered investment … is a qualified investment for … a registered retirement savings plan ("RRSP"), registered retirement income fund ("RRIF") and deferred profit sharing plan ("DPSP"), respectively. The kinds of property that are qualified investments for an RRSP, RRIF or a DPSP are described in … [ss.] 146(1), 146.3(1) and section 204 … [and Reg.] 4900 …. ... In addition [see] paragraph 21 of … IT-320R3 …. ...

In accordance with [Reg.] 4901(1) … a prescribed investment for a registered investment … is a qualified investment for … a registered retirement savings plan ("RRSP"), registered retirement income fund ("RRIF") and deferred profit sharing plan ("DPSP"), respectively. The kinds of property that are qualified investments for an RRSP, RRIF or a DPSP are described in … [ss.] 146(1), 146.3(1) and section 204 … [and Reg.] 4900 …. ... In addition [see] paragraph 21 of … IT-320R3 …. ...

Consequently, in a situation where a corporation can demonstrate that life insurance proceeds that were paid directly to a financial institution have reduced its debt to the financial institution, the life insurance proceeds will be considered as "received" by that corporation for the purpose of applying subparagraph (d)(ii) of the definition of CDA …. In addition, comments in paragraph 6 of … IT-430R3 … will be modified …. ...

In finding that the partnership would not satisfy various requirements of IT-426R, para. 2 for use of the cost-recovery method, including the requirement of subpara. 2(e)- that “[t]he vendor submits, with his return of income for the year in which the shares were disposed of, a copy of the sale agreement”- CRA stated: … T5013 forms … do … not constitute a return of income for the purpose of [subpara. 2(e)] …. ...

27 November 2012 External T.I. 2012-0445941E5 F- Action déterminée de petite entreprise-- summary under Qualifying Disposition Summary Under Tax Topics- Income Tax Act- Section 44.1- Subsection 44.1(1)- Qualifying Disposition shares issued to a family trust do not qualify as "eligible small business corporation shares" In finding that shares issued from treasury of a corporation to a family trust, which later were distributed to a capital beneficiary, did not qualify as “ eligible small business corporation shares” notwithstanding that, on their issuance, the corporation was an eligible small business corporation and the $50 million test was satisfied, CRA stated (TaxInterpretations translation): A qualifying disposition of an individual (other than a trust) means a disposition of shares of the capital stock of a corporation where each share disposed of meets certain conditions in the definition of "qualifying disposition" in subsection 44.1(1). ... In our view, the wording of the definitions of "qualifying disposition" and " eligible small business corporation share" in subsection 44.1(1) requires that the issuance of common shares be made to an individual who is eligible for purposes of a qualifying disposition. As a trust is excluded from the definition of "qualifying disposition", in our view, none of the shares described in your example could qualify as an “ eligible small business corporation share” as defined in subsection 44.1(1). ...

A, CRA indicated that if Kieboom applied, " Mr. A would be considered to have disposed of a… right to dividends in Opco to Mrs. ...

CRA indicated that: “based on the context in which the RUTT regime was introduced … the definition of a RUTT should be interpreted broadly. ... The CRA Guidance stated that uncertainty is reflected in the financial statements, for example, if “the entity concluded it is not probable that the tax authority will accept an uncertain tax treatment and thus … it is probable that the entity will receive or pay amounts relating to the uncertain tax treatment ….” ... When that is the case, the RUTTs must be disclosed in Form RC3133 …. … [T]he notes to the audited financial statements prepared in accordance with … IFRS … or any other country-specific generally accepted accounting principles need to be considered when determining whether the uncertainty of tax treatments is reflected in the relevant financial statements …. ...

. … In the absence of a complete description … we cannot determine whether a conjugal relationship … exits …. ...