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Example #1 You propose to calculate the taxable benefit pursuant to section 80.4 of the Act for each of the two taxpayers as follows: (i)     (Prescribed Interest) + (Subsidy Interest)- (Total of Actual Interest Paid by Both Employer and Employee) = Total Taxable Benefit      11%  +  (1%  +  1%) -  12%  =  1% (ii)     The net taxable benefit is 1% for the two employees combined. ... Employer A contributes 1% and Employer B contributes 2%), the following calculations, in your view, will apply: (i)     (Prescribed Interest) +  (Subsidy Interest)- (Total of Actual Interest Paid by Both Employer and Employee) = Total Taxable Benefit        11%  +  (1%  +  2%) -  12%  =  2% (ii)     The net taxable benefit is 2% for the two employees combined. ... Example #2 Employee of Employer A Paragraph      80.4(1)(a):  11%      80.4(1)(b):  1%      80.4(1)(c):  12%      80.4(1)(d):  nil Then (a)  +  (b) -  (c) -  (d)  =  12% -  12%  =  nil Employee of Employer B Paragraph      80.4(1)(a):  11%      80.4(1)(b):  2%     80.4(1)(c):  12%      80.4(1)(d):  nil Then (a)  +  (b) -  (c) -  (d)  =  13% -  12%  =  1% Accordingly, the employee of Employer A is not assessed a taxable benefit while the employee of Employer 8 will be assessed a taxable benefit based on 1% provided the two employers are not related to each other. ...

X is an individual who owns all of its issued and outstanding shares. 2.      ... The year-end of Dco is March 31. 7.     There has been no change to the year-ends of Aco, Cco and Dco. 8.      ... X   Inter-Vivos trust     100%     100%non-voting A.Co   D.Co Mr.Y 60%   50%votingMrs.X   50%votingMr.Z 40%       100%       B.Co   C.Co     In our view, the "new rules" will apply and associate the four corporations in your example in 1989 because Bco was incorporated after February 10, 1988. ...

Situation 1.      2.      3.      4.             24(1) 5.      6.      7.      ... In this regard, we would like to point out that (i)     subsection 248(10) of the Act contains an extended definition of the term "series of transactions orevents", and (ii)     it is our view that a preliminary transaction will form   part of a series of transactions referred to in subsection 248(10) of the Act if, at the time the         preliminary transaction is carried out, the taxpayer has  the intention to implement the subsequent transactions    constituting the series and the subsequent transactions   will be part of a series although at the time of the completion of preliminary transaction the taxpayer either had not determined all of the important elements   of the subsequent transactions including, possibly, the   identity of their taxpayers involved, or had lacked the   ability to implement the subsequent transactions. ...

There are no dividends to the minority shareholders in Target.      Does subsection 55(2) apply in these circumstances?       ... (b)     Disposition of Property      Question      A Parent transfers assets to its wholly-owned subsidiary in exchange for share consideration, electing under subsection 85(1).  ... Wholly-owned subsidiary has no safe income.      Does subsection 55(2) apply, and if so what result?       ...

Tax Treatment Capital contribution           $100,000 Expected annuity payments to be received (per IT-111R: $4,000 x 20.8)  - 83,200   Charitable donation receipt received by taxpayer           $ 16,800 The individual would receive a current deduction (subject to the rules governing charitable donations in subsection 118.1(3) of the Act) of $16,800 and all future $4,000 annuity payments would not be taxable.  ... Tax Treatment Capital contribution           $83,200 Expected annuity payments to be Received (per IT-111R: $4,000 x 20.8)   83,200 Charitable donation receiptreceived by taxpayer           NIL In our view, the individual in this example has not made a "gift" for the purposes of section 118.1 of the Act as the amount of the capital contributed is equal to the total amount expected to be received as annuity payments under an immediate life annuity using the tables provided in IT-111R.  ... As well, no charitable donation receipt could be issued as no "gift" has been made for the purposes of section 118.1 of the Act. 3.      ...

Real Estate Partnerships Unedited CRA Tags 212(1)(b)(viii), 245, 18(2), 18(3.1), 111(1)(e)(i) 24(1) 5-9258   O. Laurikainen   (613) 957-2129 Attention: August 30, 1990 Dear Sirs: Re:  Leverage Investments in U.S. ... The attributes of the investment vehicle you are contemplating are as follows: 1.      2.      3.     24(1) 4.       5.      ...

The relevant facts as we understand them are as follows: Facts 1.      2.      3.      4 ...      , 24(1) 5.      6.      7.      8.      9.         10.                      24(1) 11.      Taxpayer's Position 1. 2.      24(1)3. 4.      5.      Your Position                                                     1.                  24(1) 2.      3.      ...

28 July 1989 Ministerial Letter 323618 F- Partition of Property Held in Undivided Ownership under Quebec Civial Law Unedited CRA Tags 98(2)      July 28th 1989      TO Review Committee                        FROM   Bilingual Services                                                       (Specialty)                                                           Sean Finn                                                           957-8953 Income Tax Rulings                               3-23618 SUBJECT:  Income Tax Ruling 24(1) Partition of Property held in undivided ownership under Quebec Civil Law Following the receipt of a Request for advance Income Tax Rulings in the above-mentioned matter, a memorandum was submitted to the Review Committee on May 19, 1989 dealing with the application of paragraph 54(c) of the Income Tax Act (Canada) (the "Act") to a partition of property between persons holding the property in undivided ownership. 24(1) In view of our stated position on this matter, it was decided at the meeting of the Review Committee of May 23rd 1989 that a legal opinion should be requested from the Legal Services Branch on the application of paragraph 54(c) of the Act to a partition of property between taxpayers holding property in undivided ownership under Quebec Civil Law, as well as in tenancy-in-common under the Common Law. ... RECOMMENDATION 21(1)(a) As stated in the memorandum to the Review Committee dated May 19, 1989, the taxpayer has requested the following rulings. 24(1) 21(1)(a) D.Bruffardfor the DirectorBilingual Services & ServicesIndustries DivisionRulings Directorate ...

8 August 1987 Ministerial Letter 73948 F- Paiements incitatifs et autres Unedited CRA Tags 20(1)(c), 12(1)(x), 20(1)(hh)   BUREAU DE DISTRICT            BUREAU PRINCIPAL DE ST- HUBERT                Section des services                               bilingues                                 Sean Finn                              (613) 957-8973 Attention:  Richard Lapointe, Chef de la Revue                                                       7-3948 24(1) Le présent mémoire est en réponse à la note de service de Monsieur R. ... ii)       Que signifie l'expression "Payable pour l'année" dans l'introduction de l'alinéa 20(1)c) de la Loi.  ... iv)       Dans le cas du contribuable, à quelle date ou pour quelle année fiscale doit-on lui accorder la dépense? ...

LES FAITS 1.      2.     24(1) 3.      4.      5.     24(1) QUESTIONS Les questions soumises dans votre note de service peuvent se résumer comme suit: 24(1) 2.      ... 3.     Est-ce que la politique du bureau principal à l'effet que la nature des contrats de location n'est déterminée que dans les deux cas mentionnés ci-dessous est toujours valide: •     lorsque le bailleur et le preneur ne traitent pas à distance; •     lorsque la location ne constitue pas le genre d'affaires normales du bailleur? COMMENTAIRES 24(1) 2.     Par ailleurs, nous avons pris connaissance de vos commentaires concernant l'utilisation des PCGR pour déterminer la nature véritable des contrats de location.      23      Bien que les PCGR ont été considérés, il ne semble pas qu'ils seront déterminants, en soi, dans le prochain bulletin.  ...