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Topic Descriptor 17 May 2023 IFA Roundtable Q. 1, 2023-0964391C6- stock based compensation and transfer pricing Income Tax Act- Section 7- Subsection 7(3)- Paragraph 7(3)(b) s. 7(3)(b) non-deduction or s. 112(1)(e) deductibility could apply to cross-border stock option recharges of non-resident parent Income Tax Act- Section 247- New- Subsection 247(2) stock-compensation expenses may be relevant to pricing cross-border services charges even where s. 7(3)(b) prohibits their deduction 17 May 2023 IFA Roundtable Q. 2, 2023-0964301C6- Ukraine Russia FAs and Tax Reporting Income Tax Act- Section 233.5 failure to file complete information for affiliate in war-torn country Income Tax Act- Section 220- Subsection 220(2.1) potential relief from return-filing requirements re FA in war-torn country 17 May 2023 IFA Roundtable Q. 3, 2023-0964551C6- T1134 Supplement Income Tax Act- Section 233.5 T1134 should be timely-filed with missing information noted Income Tax Act- Section 90- Subsection 90(2) a pro rata distribution by an LLLP to its members is a dividend 17 May 2023 IFA Roundtable Q. 4, 2023-0965421C6- Canada-Barbados Income Tax Convention – “Special Tax Benefit” Treaties- Income Tax Conventions- Article 29 Class 2 licensees under the Barbados Insurance Act receive a “special tax benefit” for purposes of the Treaty-benefit exclusion 17 May 2023 IFA Roundtable Q. 5, 2023-0965771C6- Remote Work Arrangements Income Tax Act- Section 253- Paragraph 253(b) s. 253(b) does not extend to “invitation to treat” or advertisement Income Tax Act- Section 253- Paragraph 253(a) product development from Canadian home office might engage s. 253(a) Income Tax Act- Section 115- Subsection 115(1)- Paragraph 115(1)(a)- Subparagraph 115(1)(a)(ii) whether Canadian home offices of US employees can give rise to it carrying on business in Canada Treaties- Income Tax Conventions- Article 5 whether employee’s home office can constitute a PE of US employer 17 May 2023 IFA Roundtable Q. 6, 2023-0964351C6- Application of the Canada-US Treaty Treaties- Income Tax Conventions- Article 4 Treaty benefits could be created for a s. 216 structure by creating partnerships for US purposes 15 September 2020 IFA Roundtable Q. 7, 2020-0853571C6- Regulation 5901(2)(b) Pre-Acquisition Surplus Election Income Tax Regulations- Regulation 5901- Subsection 5901(2)- Paragraph 5901(2)(b)- Subparagraph 5901(2)(b)(ii) Reg. 5901(2)(b)(ii)(A) does not taint a siloed dividend paid by FA to Canco1 even though another Canco holds other FA shares through an LP 17 May 2023 IFA Roundtable Q. 7, 2023-0964521C6- Application of Article 10, Canada-Hong Kong Treaties- Multilateral Instrument- Article 7- Article 7(1) the PPT object and purpose test is met where individuals in a Treaty country transfer their Canco shares to a Treaty-resident Holdco to reduce dividend withholding Treaties- Income Tax Conventions- Article 10 violating main purpose test in HK Treaty increases dividend rate/ PPT object and purpose test not violated by using personal holding company in same jurisdiction 17 May 2023 IFA Roundtable Q. 8, 2023-0964561C6- Tax-free Surplus Balance and Paragraph 88(1)(d) Income Tax Act- Section 88- Subsection 88(1)- Paragraph 88(1)(d)- Subparagraph 88(1)(d)(ii)- Variable C surplus computation not required in typical bump and run transaction Income Tax Regulations- Regulation 5905- Subsection 5905(5.4) no surplus calculations needed where FA of Canadian target is acquired by Forco through a Cdn. ...

These are additions to our set of 2,577 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 20 ¾ years of releases of such items by the Directorate. ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2002-10-11 28 October 2002 External T.I. 2002-0134785 F- Partitioning of Shares Income Tax Act- Section 248- Subsection 248(1)- Property interest in trust is a single property even if held as units Income Tax Act- Section 248- Subsection 248(20) s. 248(20) might apply if a partition results in the issuance of whole shares Income Tax Act- Section 248- Subsection 248(21) s. 248(21) could apply to partitioning a share if the corporation could issue fractional shares on the partition satisfying the FMV test, and similarly for partitioning MFT units (viewed as a single property) Income Tax Act- Section 98- Subsection 98(3) partners not permitted to receive divided interest in shares on s. 98(3) wind-up 28 October 2002 External T.I. 2002-0117595 F- REVENU EXPERT-COMPTABLE Income Tax Act- Section 9- Nature of Income accountants required to individually recognize professional income earned by them as employees of an NPO corporation 2 October 2002 Internal T.I. 2002-0135807 F- Lumpsum Somme Forfaitaire Reg 102 / 103 Income Tax Regulations- Regulation 103- Subsection 103(4)- Paragraph 103(4)(c) withholding on retiring allowance paid in periodic instalments determined under Reg. 102(1) 25 October 2002 External T.I. 2002-0137705 F- Butterfly Income Tax Act- Section 85- Subsection 85(1)- Paragraph 85(1)(e) CCRA will permit UCC to be split on a pro rata basis under s. 85(1)(e)(i) where the butterfly entails s. 85(1) drop-downs to Newco subs of DC followed by their transfers to TCs 4 November 2002 Internal T.I. 2002-0160697 F- REPARTITION DU PLAFOND Income Tax Act- Section 125- Subsection 125(5)- Paragraph 125(5)(a) s. 125(5)(a) did not apply to a CCPC for its 2nd 2000 taxation year resulting from an acquisition of control causing it to be associated with a different CCPC 22 October 2002 External T.I. 2002-0162835 F- Recbles Recd. after Disp. of Farm. ...

Income Tax Act- Section 50- Subsection 50(1)- Paragraph 50(1)(b)- Subparagraph 50(1)(b)(iii)- Clause 50(1)(b)(iii)(A) “insolvent” means unable to pay one’s debts/ can’t be insolvent if nil liabilities and assets 25 February 2002 Internal T.I. 2001-0114167 F- DOMMAGES- DISCRIMINATION Income Tax Act- Section 248- Subsection 248(1)- Retiring Allowance compensation under the CHRA for lost wages and expenses would be a retiring allowance – reasonable (e.g., under $5,000) compensation for pain and suffering would be non-taxable Income Tax Act- Section 3- Paragraph 3(a) awards by human rights tribunals for pain and suffering re wrongful termination often are under $5,000 ...

Regarding the requirements in s. 84.1(2.31)(g) or s. 84.1(2.32)(h) for a timely transfer of business “management” to the children (specified in s. 84.1(2.3)(i) to refer to the direction or supervision of business activities) CRA stated: [W]here the parent remains a director of Parent Inc. and steps are not taken to completely and permanently cease to hold such office, within the time periods stipulated by paragraphs 84.1(2.31)(g) and 84.1(2.32)(h), including any longer period that is reasonable in the circumstances, the requirements of subparagraphs 84.1(2.31)(g)(ii) and 84.1(2.32)(h)(ii) would not be satisfied … regardless of whether the parent is the sole director or one of the directors, and regardless of whether the direction of the day-to-day activities is in the hands of the children. ...

These are additions to our set of 3,005 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 23 ½ years of releases of such items by the Directorate. ...

These are additions to our set of 3,024 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 23 ¾ years of releases of such items by the Directorate. ...

These are additions to our set of 3,139 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 24 ¼ years of releases of such items by the Directorate. ...

These are additions to our set of 3,159 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 24 ½ years of releases of such items by the Directorate. ...

T.I. 2015-0608051E5 F- Emigration of a trust Income Tax Act- Section 2- Subsection 2(1) Fundy Settlement test may differ from residence of trustees Income Tax Act- Section 220- Subsection 220(4.5) emigrating trust can elect to defer payment of the exit tax 2016-11-30 7 October 2016 APFF Roundtable Q. 1A, 2016-0652951C6 F- Penalty late filed election-subsection 85(8) Income Tax Act- Section 85- Subsection 85(8) penalty calculated on a global basis 7 October 2016 APFF Roundtable Q. 1B, 2016-0652761C6 F- T4A filing Income Tax Act- Section 153- Subsection 153(1)- Paragraph 153(1)(g) limited exceptions to T4A reporting Income Tax Regulations- Regulation 200- Subsection 200(2) no expanded relief from the broad T4A reporting requirements 7 October 2016 APFF Roundtable Q. 1C, 2016-0652771C6 F- T106 and multiple year ends Income Tax Act- Section 231.1- Subsection 233.1(2) acquisition of control generally will not generate additional T106 filings 7 October 2016 APFF Roundtable Q. 2, 2016-0652841C6 F- Changement partiel d’usage- immeuble locatif et résidentiel Income Tax Act- Section 45- Subsection 45(1)- Paragraph 45(1)(c) switch between which triplex units used for personal/family rental or 3rd-party rental did not trigger change of use Income Tax Act- Section 54- Principal Residence triplex contained separate housing units Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(b) on sale of triplex, individual can claim exemption only for years in which particular units were used personally or by children 7 October 2016 APFF Roundtable Q. 3, 2016-0652851C6 F- Annulation d'une promesse d'achat sur une maison Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(b) damages for breach of covenant to purchase principal residence not covered Income Tax Act- Section 39- Subsection 39(1)- Paragraph 39(1)(b) no capital loss for damages paid for breach of purchase obligation 7 October 2016 APFF Roundtable Q. 4, 2016-0652801C6 F- Salary Deferral Arrangement Income Tax Act- Section 248- Subsection 248(1)- Salary Deferral Arrangements- Paragraph (k) no backdating as of the year end 7 October 2016 APFF Roundtable Q. 5, 2016-0652861C6 F- Véhicules électriques- rabais Income Tax Act- Section 13- Subsection 13(21)- Undepreciated Capital Cost- A installation cost included Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(e) use of manufacturer’s electricity-use standard Income Tax Act- Section 13- Subsection 13(21)- Undepreciated Capital Cost- A cost not reduced under general principles by government assistance Income Tax Act- Section 13- Subsection 13(7)- Paragraph 13(7)(g) vehicle assistance paid indirectly (to dealer) covered Income Tax Act- Section 6- Subsection 6(2) Quebec government assistance does not reduce cost of purchased vehicle, but treated as compensation to dealer-lessor prorated over term of lease 7 October 2016 APFF Roundtable Q. 6, 2016-0652821C6 F- Graduated Rate Estate- Total Charitable Gifts Income Tax Act- Section 84.1- Subsection 84.1(1) Poulin is consistent with CRA's previous statements on employee buycos Income Tax Act- Section 251- Subsection 251(1)- Paragraph 251(1)(c) touchstones for accommodation party Income Tax Act- Section 118.1- Subsection 118.1(1)- Total Charitable Gifts- Paragraph (c)- Subparagraph (c)(ii) right of GREs to carry forward donations for five years 7 October 2016 APFF Roundtable Q. 7, 2016-0652971C6 F- Paragraph 251(5)(b) and subsection 256(1.4) Income Tax Act- Section 251- Subsection 251(5)- Paragraph 251(5)(b)- Subparagraph 251(5)(b)(i) right to find 3rd party purchaser Income Tax Act- Section 251- Subsection 251(5)- Paragraph 251(5)(b)- Subparagraph 251(5)(b)(ii) may include right arising after triggering of event over which no control Income Tax Act- Section 256- Subsection 256(1.4)- Paragraph 256(1.4)(a) does not include right to find a 3rd party purchaser for another’s shares 7 October 2016 APFF Roundtable Q. 9, 2016-0652921C6 F- Résidence- actif utilisé / Residence- asset used Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1)- Share of the Capital Stock of a Family Farm or Fishing Corporation primary employee use qualifies farm house Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1)- Qualified Small Business Corporation Share farm house must be more than 50% used by farm employees to qualify 7 October 2016 APFF Roundtable Q. 10, 2016-0652931C6 F- Bien agricole admissible-saisine par succession General Concepts- Ownership estate owns its property Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1.3)- Paragraph 110.6(1.3)(a)- Subparagraph 110.6(1.3)(a)(i) 3 owners if farm passes from father to estate to son 7 October 2016 APFF Roundtable Q. 11, 2016-0652941C6 F- Contrat de location / Capital lease Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1)- Qualified Small Business Corporation Share stipulated rights of lessee should be valued for QSBCS purposes Income Tax Act- Section 248- Subsection 248(1)- Small Business Corporation FMV of rights under a lease must be included 7 October 2016 APFF Roundtable Q. 12, 2016-0655911C6 F- Partial Leveraged Buy-Out and Monetization of ACB Income Tax Act- Section 84- Subsection 84(2) amalgamation does not cause reorg etc. of business 7 October 2016 APFF Roundtable Q. 13, 2016-0652981C6 F- Allocation of the safe income on hand Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) business income earned by a corporation following a subscription for a separate class of discretionary dividend shares could be allocated to those shares 7 October 2016 APFF Roundtable Q. 14, 2016-0655921C6 F- Safe income on hand- Preferred shares Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) fixed dividends on full-ACB prefs did not come out of SIOH Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(b) whether dividends paid on non-participating prefs engage s. 55(2) is a question of fact 7 October 2016 APFF Roundtable Q. 15, 2016-0652991C6 F- Application of subsection 55(2)- holding period Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) stock dividend of nominal value discretionary shares to shift value to an affiliate 7 October 2016 APFF Roundtable Q. 16, 2016-0653001C6 F- Safe income and freeze preferred shares Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) application of safe income on hand to dividends paid on estate freeze prefs 7 October 2016 APFF Roundtable Q. 17, 2016-0652781C6 F- Functional currency and acquisition of control Income Tax Act- Section 261- Subsection 261(9)- Paragraph 261(9)(a) exclusion of pre-transition debts from s. 111(4) Income Tax Act- Section 111- Subsection 111(4)- Paragraph 111(4)(e) FX gains or losses on pre-transition debts not affected Income Tax Act- Section 40- Subsection 40(10) exclusion of pre-transition debts 7 October 2016 APFF Roundtable Q. 18, 2016-0652791C6 F- Taxable Canadian property and Part XIII tax Income Tax Act- Section 119 property must have been TCP continuously from the time of emigration 7 October 2016 APFF Roundtable Q. 19, 2016-0655841C6 F- Reimbursement of attributed income Income Tax Act- Section 69- Subsection 69(1)- Paragraph 69(1)(b) excess disposition proceeds not required to be repaid Income Tax Act- Section 74.1- Subsection 74.1(1) no domestic secondary adjustment doctrine Income Tax Act- 101-110- Section 103- Subsection 103(1) no obligation to repay income reallocated to other partner 7 October 2016 APFF Roundtable Q. 20, 2016-0655831C6 F- Employee Buycos and the Poulin Case Income Tax Act- Section 84.1- Subsection 84.1(1) Poulin accepted Income Tax Act- Section 251- Subsection 251(1)- Paragraph 251(1)(c) Poulin distinction between accommodation parties and tax advantaged arm’s length dealings accepted 7 October 2016 APFF Roundtable Q. 21, 2016-0655901C6 F- Section 7 and bonus paid in share Income Tax Act- Section 7- Subsection 7(1.1) 7(1.1) applicable to non-discretionary bonus payable in shares Income Tax Act- Section 84- Subsection 84(1)- Paragraph 84(1)(b) PUC of shares issued in satisfaction of bonus equal to bonus amount Income Tax Act- Section 7- Subsection 7(3)- Paragraph 7(3)(a) s. 7 can govern bonuses paid in shares where discretion ceases prior to the issuance 7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 1, 2016-0651771C6 F- Critical Illness Insurance Income Tax Act- Section 15- Subsection 15(1) benefit on gratuitous transfer of critical illness policy by corporation to its shareholder 7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 2, 2016-0651711C6 F- RRIF, Transfer of designated benefit Income Tax Act- Section 146.3- Subsection 146.3(6.11) computation of eligible amount following year of death Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(g)- Subparagraph 40(2)(g)(iii) capital loss recognition on land underlying duplex used 40% personally Income Tax Regulations- Regulation 1102- Regulation 1102(2) Reg. 1102(2) deems building to be separate from land and does not bifurcate the land Income Tax Act- Section 54- Personal-Use Property land underlying duplex used 40% personally is not personal-use property 7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 3, 2016-0651761C6 F- Transfer of a Life Insurance Policy Income Tax Act- Section 148- Subsection 148(7)- Paragraph 148(7)(a) s. 148(7)(a) prevails over s. 69(1)(b) and 52(2), but not s. 69(5) 7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 4, 2016-0651791C6 F- Choix 45(2) et (3)- immeuble à logements Income Tax Act- Section 45- Subsection 45(3) invalidity of s. 45(3) elections on duplex units applied only for changes of use after February 21, 2012 ...