Search - 水晶光电 行业地位 发展趋势

CRA stated: As noted … in Keybrand and Aeronautic, the financial dependence of one party on the other could, depending on the facts and circumstances of the situation, demonstrate that the parties are not dealing with each other at arm's length at a particular time in respect of a particular transaction. ... CRA concluded: If the facts and circumstances of a specific case demonstrate that the financial dependence of one party on another is such that it is possible for the CRA to conclude that a transaction or series of transactions was entered into between persons not dealing with each other at arm's length under any of the criteria listed in … S1-F5-C1, [para. 1.38, respecting a common mind directing the bargaining, acting in concert or de facto control], then such dependence may be sufficient to conclude that the parties are not dealing at arm's length. ...

CRA went on to indicate that where “the person on whom the benefit has been conferred is both a shareholder and an employee … a determination will have to be made … as to whether the benefit was conferred by the corporation on the person as a shareholder or as an employee.” ...

Since this occurred after the safe-income determination time, the taxable income from the sale was not included in computing safe income – so that if the vendor then paid a dividend out of the asset sale proceeds, it would be recharacterized as a capital gain because of the lack of safe income. ... However, practical solutions to these types of technical issues exist and therefore the CRA does not consider that a flexible approach is necessary in the[se] circumstances …. ...

CRA noted that since the number of substituted properties on hand at the end of the period beginning 30 days before and ending 30 days after the disposition of the shares to the taxpayer or an affiliated person was greater than at the time of the disposition, the formula (Deemed nil loss = (the lesser of S, P and B) / S x L) referred to in some CRA positions was inapplicable (i.e., the full $10,000 loss was denied). ...

CRA noted that since the number of substituted properties on hand at the end of the period beginning 30 days before and ending 30 days after the disposition of the shares to the taxpayer or an affiliated person was greater than at the time of the disposition, the formula (Deemed nil loss = (the lesser of S, P and B) / S x L) referred to in some CRA positions was inapplicable (i.e., the full $10,000 loss was denied). ...

. … In Girard, the presumption of validity of notices of assessment under subsection 152(8) I.T.A. was not at issue. … In the event that a trustee contests the CRA's proof of claim, the legal effects of the notice of assessment, including the procedure for contesting the assessment and the time limits associated with it, are suspended until the CRA obtains the lifting of the suspension of proceedings under section 69.4 B.I.A., pursuant to the Girard decision. ...

CRA rejected a suggestion that a PAC could be held in a non-listed trust in reliance on Reg. 304(3)(a), which deems the annuitant under an annuity contract to be the holder of the contract where the contract is held by another person in trust for the annuitant (defined in Reg. 304(4) as a person who is entitled to receive annuity payments under the contract) – so that (it was suggested) the holding of the mooted PAC by a non-listed trust could be deemed to be its holding by an individual beneficiary of the trust. ... CRA concluded that “the expression ‘in trust’ in paragraph 304(3)(a) … is more akin to a nominee [arrangement]” and is not meant to accommodate non-listed trusts. ...

4 June 2024 STEP Roundtable Q. 11, 2024-1003491C6- Foreign Tax Credit for US Estate Tax-- summary under Article 29B Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 29B application of Art XXIX-B(6)(a) of the Canada-US treaty where s. 70(5) gain realized on US public company shares and US realty A Canadian resident who was not a U.S. citizen was subject on death to U.S. estate tax on U.S. situs property, namely, US real property and shares of a U.S. public corporation that were not “U.S. real property interests” – and also realized a gain pursuant to ITA s. 70(5). ... In particular, Art XXIX-B(6)(a)(i) referenced any income, profits or gains arising in the U.S. within the meaning of Article XXIV(3) of the Treaty – and pursuant to the combined operation of Art. ...

10 October 2024 APFF Roundtable Q. 6, 2024-1028881C6 F- Revenu protégé-- summary under Paragraph 55(3)(a) Summary Under Tax Topics- Income Tax Act- Section 55- Subsection 55(3)- Paragraph 55(3)(a) GAAR may apply where the purpose of a s. 55(3)(a) redemption for a note is increasing outside basis, but not where freeze shares are redeemed for personal cash needs CRA, when asked to comment on the application of s. 55(3)(a) to the redemption in Example 12 of the “ CRA Update on Subsection 55(2) and Safe Income: Where are we Now?” ... In this regard, see Example 5 in the Update …. Example 5 may be summarized as follows: Parent, which owns shares of Subco with an ACB of $0 and FMV of $1,000 and no safe income, wishes to increase its cost in the shares of Subco or other property held in Subco, so that shares of Subco are redeemed for a note and the note is either held by Parent or subsequently reinvested back in the shares of Subco held by Parent. ...

10 October 2024 APFF Roundtable Q. 6, 2024-1028881C6 F- Revenu protégé-- summary under Paragraph 55(2.1)(c) Summary Under Tax Topics- Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) safe income was not allocable to preferred share issued on s. 85(1) roll-in of goodwill Example 12 of the " CRA Update on Subsection 55(2) and Safe Income: Where are we Now? ” was essentially as follows: In Year 1: Holdco1 transferred goodwill with an FMV of $500 and nominal cost amount on a rollover basis to Opco in consideration for preferred shares with a $500 redemption amount and nominal dividend entitlement; and Holdco2 subscribed a nominal amount for Opco common shares. ...