Search - 赤峰 二中 初中学区划分 2005

3 February 2005 External T.I. 2005-0111871E5 F- Intérêts / mise à part de l'argent-- summary under Subparagraph 20(1)(c)(i) Summary Under Tax Topics- Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(c)- Subparagraph 20(1)(c)(i) cash damming to pay current deductible business expenses is an eligible use which continues with the business Regarding the deductibility of interest on borrowed money used for current business expenses in a cash damming context, CRA stated: Where the borrowed money is used to pay a current expense that is incurred for the purpose of earning business income and is deductible … the test of a direct connection is satisfied in the year the expense is incurred and in subsequent years. … [I]nterest on borrowed money used to pay a current expense incurred to earn business income will continue to be deductible as long as the source of income, the business, does not disappear. However, the provisions of section 20.1 could, depending on the case, allow the interest to be deductible after the source of income has disappeared. … [T[he total value of the assets of the business is not a criterion for determining whether interest on borrowed money used to pay a current expense incurred to earn business income is deductible. ...

7 October 2005 APFF Roundtable Q. 13, 2005-0141061C6 F- Purchase of Shares by Subsidiary- Sec. 84.1 & 245-- summary under Subsection 245(4) Summary Under Tax Topics- Income Tax Act- Section 245- Subsection 245(4) S.245(2) generally would not apply where an individual ("X") owning 20% of the shares of Opco disposes of his shares of Opco to a newly-incorporated subsidiary of Opco for cash, provided that cash or near-cash does not constitute a significant portion of Opco assets, Opco continues to carry on its business, and Subco and Opco merge following this transaction. ...

24 March 2005 Internal T.I. 2005-0115921I7- Specified debt obligations & loan originating cost-- summary under Investment Contract Summary Under Tax Topics- Income Tax Act- Section 12- Subsection 12(11)- Investment Contract debt definition- includes conditional sales contracts Conditional sales contracts purchased by a corporation likely would qualify as "debt obligations," so that the corporation would qualify as a restricted financial institution, i.e., a corporation whose principal business was the purchasing of debt obligations issued by arm's length persons. ...

2 May 2005 Internal T.I. 2005-0119971I7 F- CDA- Excessive Election & Late Filed Election-- summary under Subsection 184(3) Summary Under Tax Topics- Income Tax Act- Section 184- Subsection 184(3) where the corporation failed to file s. 83(2) election, CRA should assess Pt. ...

4 May 2005 External T.I. 2005-0120271E5 F- Change of Control- CDA & RDTOH-- summary under Clause 256(7)(a)(i)(A) Summary Under Tax Topics- Income Tax Act- Section 256- Subsection 256(7)- Paragraph 256(7)(a)- Subparagraph 256(7)(a)(i)- Clause 256(7)(a)(i)(A) s. 256(7)(a)(i)(A) applied where taxpayer acquired shares of CCPC from his sister Ms. ...

2 May 2005 Internal T.I. 2005-0119971I7 F- CDA- Excessive Election & Late Filed Election-- summary under Subsection 83(3.1) Summary Under Tax Topics- Income Tax Act- Section 83- Subsection 83(3.1) where no s. 83(2) election filed for statute-barred year, CRA should request late election under s. 83(3.1) or, failing which, assess a taxable dividend under s. 184(4)(b)(ii) CRA never received a s. 83(2) election in respect of a dividend payable in 1997 by Yco to its sole shareholder, an individual ("Y"). ...

1 February 2005 External T.I. 2004-0083921E5 F- Société mandataire, gain & CIÉ-- summary under Non-Business-Income Tax Summary Under Tax Topics- Income Tax Act- Section 126- Subsection 126(7)- Non-Business-Income Tax US taxes paid by a corporation based on falsely representing that the related gain was its gain could generate a FTC to the Canadian shareholder for which it in fact was agent A corporation acquired a building in the US as agent for its individual shareholder pursuant to a nominee agreement. ...

14 May 2015 CLHIA Roundtable, 2015-0573841C6- 2015 CLHIA Roundtable – Winding-up and ACB-- summary under Subsection 148(7) Summary Under Tax Topics- Income Tax Act- Section 148- Subsection 148(7) s. 69(5) generally prevails over s. 148(7) At the 2005 CALU Roundtable (2005-0116631C6), the CRA indicated that s. 69(5) would likely take precedence over s. 148(7) on the wind-up of a corporation under s. 88(2), so that a distributed interest in a life insurance policy would be disposed of at fair market value rather than cash surrender value. In confirming that this position "remains unchanged," CRA stated: [T]he general rule is that where two provisions in the same statute conflict, the more specific provision should take precedence. … While we would generally expect subsection 69(5) to take precedence over subsection 148(7)… this approach is subject to a review of the particular facts and circumstances of an actual case…. ...

14 May 2015 CLHIA Roundtable, 2015-0573841C6- 2015 CLHIA Roundtable – Winding-up and ACB-- summary under Subsection 69(5) Summary Under Tax Topics- Income Tax Act- Section 69- Subsection 69(5) s. 69(5) generally prevails over s. 148(7) At the 2005 CALU Roundtable (2005-0116631C6), the CRA indicated that s. 69(5) would likely take precedence over s. 148(7) on the wind-up of a corporation under s. 88(2), so that a distributed interest in a life insurance policy would be disposed of at fair market value rather than cash surrender value. In confirming that this position "remains unchanged," CRA stated: [T]he general rule is that where two provisions in the same statute conflict, the more specific provision should take precedence. … While we would generally expect subsection 69(5) to take precedence over subsection 148(7)… this approach is subject to a review of the particular facts and circumstances of an actual case…. ...

8 July 2013 Internal T.I. 2012-0470021I7- Settlement of Future Benefits – ASO Plan-- summary under Subparagraph 39(1)(a)(ii) Summary Under Tax Topics- Income Tax Act- Section 39- Subsection 39(1)- Paragraph 39(1)(a)- Subparagraph 39(1)(a)(ii) CRA noted that an employer's group disability plan which was administered by an administrator (such as an insurance corporation) on an administrativee services only basis nonetheless would qualify as an insurance plan ("IP") (and a wage loss replacement plan ("WLRP")) for the purpose of paragraph 6(1)(f) of the Act, if it contained "an undertaking by one person to indemnify another person, for an agreed consideration, from a loss or liability in respect of an event, the happening of which is uncertain." When asked whether the "decision in Tsiaprailis, 2005 DTC 5119, would apply to characterize a payment made by the administrator to an employee in settlement of future periodic benefits under the disability plan as a capital receipt from the disposition of a right," CRA stated: …where it is established that the ASO plan is an IP and therefore a WLRP, the decision of the SCC in Tsiaprailis would apply to characterize the amount of a settlement for future WLRP benefits as a capital receipt from the disposition of a right…. ...