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2 November 2023 APFF Roundtable Q. 6, 2023-0982831C6- Paragraph 12(1)(x)-- summary under Government Assistance Summary Under Tax Topics- Income Tax Act- Section 127- Subsection 127(9)- Government Assistance CAE followed CAE indicated that a government loan lacking sufficient "ordinary commercial terms" – including one that was made otherwise than to promote the governmental commercial interests or that has a below-market interest rate – will be considered "government assistance" within the meaning of ss. 12(1)(x) and 127(9). ... In the context of agreements of this nature, it seems to us that it is appropriate to use the "ordinary business arrangement" test developed in the jurisprudence (notably in Immunovaccine Technologies …) to determine whether the amount received constitutes government assistance for purposes of paragraph 12(1)(x). ...

10 October 2014 APFF Roundtable Q. 20, 2014-0534671C6 F- D&D Livestock-- summary under Subsection 245(4) Summary Under Tax Topics- Income Tax Act- Section 245- Subsection 245(4) unjustified duplication of fiscal attributes is abusive What is the CRA position on D & D Livestock? ... However, the CRA would not hesitate to invoke the GAAR in similar files. … The CRA considers among other things that transactions or series of transactions permitting the double utilization of the same amount of safe income in order to reduce a capital gain realized on an ultimate disposition of shares of a corporation are abusive and go against the object of subsection 55(2). ...

10 October 2014 APFF Roundtable Q. 20, 2014-0534671C6 F- D&D Livestock-- summary under Subparagraph 55(2.1)(b)(i) Summary Under Tax Topics- Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(b)- Subparagraph 55(2.1)(b)(i) CRA is concerned by planining that can result in an unjustified duplication of fiscal attributes including ACB What is the CRA position on D & D Livestock? ... However, the CRA would not hesitate to invoke the GAAR in similar files. … The CRA considers among other things that transactions or series of transactions permitting the double utilization of the same amount of safe income in order to reduce a capital gain realized on an ultimate disposition of shares of a corporation are abusive and go against the object of subsection 55(2). ...

Was the requirement in s. 110.6(1) – qualified small business corporation share – para. ... CRA responded: In this case, the "determination time" … is February 5, 2011. ... X … owned the shares … the requirement regarding the 24-month holding period of the shares would not be satisfied …. ...

Liebig & Co. v Leading Investments Ltd., [1986] 1 S.C.R. 70, "the primary meaning of sale is the transfer of property to another for a price. ...

CRA responded: Innovative … [dealt with] a group creditor life insurance policy and not an individual life insurance policy. ...

George Thompson & Company, Limited (1927), 13 TC 83 (Eng. KB) (“Scales”) sets out the test for the determination of whether certain operations are a separate business. ...

Canadian Western Natural Gas, Light, Heat & Power Co. ((1922) 69 DLR 401 (Alta SC (AD)). ...

. … [C]onsequently … the administrator of an RPP who pays, to a member's estate, a lump sum payment of a superannuation or pension benefit as a result of the member's death, must withhold tax pursuant to ITR subsection 103(4). … [N]o provision … allows allocations or designation of tax deductions between a trust and its beneficiaries. When the estate completes its …T3 … the tax withheld will be taken into account in determining the balance owed by the estate or [its] refund …. ...

. … If the excess arose as a result of the taxpayer's negligence, carelessness or ignorance of the requirements of the Income Tax Act, the CRA will not generally waive the tax payable on the excess contributions. … While the mere fact that a taxpayer relies on third-party advice is not, in and of itself, sufficient to conclude that an assessment arising from such advice is a reasonable error, in certain situations the CRA may consider it appropriate to waive tax arising from a third-party error, depending on the circumstances. … [H]ere are examples of … excess contributions [considered] to be the result of a reasonable error: The taxpayer's notice of (re)assessment) indicated an RRSP deduction limit of $0, where in fact the limit was a negative amount, so that the taxpayer may have mistakenly believed that the taxpayer was entitled to the $2,000 allowance …; The taxpayer, through no personal fault, had over-contributed due to inaccurate information provided on the RRSP deduction limit statement [or by] the CRA…; The taxpayer's RRSP deduction limit had been reduced retroactively, due to events such as the late submission of a pension adjustment or amended pension adjustment, or the late submission of an exempt past service pension adjustment or T215 slip … for exempt past service pension adjustments; The taxpayer, a TFSA holder, had made multiple contributions to and withdrawals from his TFSA with the objective of maintaining a TFSA account balance below the contribution limit. ...