Search - 阿里拍卖 司法拍卖

After noting that it could not respond definitively to the presented facts, CRA responded: As indicated in … IT-206R[, para. 2] the question of whether the carrying on of two or more simultaneous business operations by a taxpayer is the same business is dependent upon, among other things, the degree of interconnection, interlacing or interdependence existing between the business operations. The factors to be considered in making this determination are set out in … IT-206R[, para. 3]. … [T] he question of what is the principal business of a taxpayer that is a corporation within the meaning of subsection 1100(12) I.T.R. is a question of fact …. As stated in … IT-371[, para. 7], there are no established criteria. … [T]he following factors are among those that may be relevant: (a) the profits realized by each of the businesses; (b) the volume and the value of the gross sales or transactions of each business; (c) the value of the assets of each business; (d) the capital employed in each business; and (e) the time, attention and effort expended by the employees, agents or officers in each business. ...

CRA responded: [F]or the 2016 and subsequent years,... taxpayers who have failed to report the disposition of their principal residence [are required to] amend their income tax return …. For the sale of a residence in 2016, Schedule 3 … must be completed, on which must be stated the year of disposition of the property, its proceeds of disposition as well as its description. … Form T2091 … (or Form T1255 …), is required for the designation if the property was not the taxpayer's principal residence for all the years in which the taxpayer was the owner. For dispositions in 2017 and subsequent years … taxpayers will also be required to complete Form T2091 (IND) (or Form T1255). ...

6 May 2014 CALU Roundtable, 2014-0523321C6- 2014 CALU Conference-- summary under Paragraph 20(1)(bb) Summary Under Tax Topics- Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(bb) segregated fund not a "security" After quoting authorities on the meaning of "security," including a statement in Canadian & Foreign Securities Co. v. ... " CRA responded: A segregated fund policy is a contract of insurance and … is not a share or security of the taxpayer. Consequently … paragraph 20(1)(bb) … does not apply to fees paid by a taxpayer in respect of the advisability of the acquisition or disposition of segregated fund policies, or for the administration or management thereof as the requirements of that paragraph are not met. ...

., hereafter « Quebec Inc. ») in exchange for shares of two classes in the capital of Quebec Inc.: the first class of shares having a low PUC and an ACB equal to their FMV (the "1971 FMV Shares") and the second class of shares having a high PUC (which was the purpose of the second transaction) and a high ACB equal to their FMV (the "Stripping Shares"). ... The CRA continues of the view that ITA subsection 84(2) should have applied in this case especially by reason of … MacDonald …. ... In short, in a situation such as in the Descarries case, the three avoidance transactions are…an abuse of the Integration Rules. … We also are concerned by the specificity of the principle proposed by the TCC to the effect that in carrying out the three avoidance operations, subsection 84.1(1) could be utilized to distribute surplus of a corporation in the form of a capital gain to the extent that that the capital gain was not reduced y a capital loss which was sustained from the disposition of shares whose ACB is derived from the FMV of those shares on Valuation Day…. ...

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 …. ...

CRA noted that ATI is determined by the formula A + B – C, and A is determined by the formula D – E. with variable D in general terms referring to the taxpayer’s taxable income for the year determined without regard to s. 18.2(2). ...

CRA stated: According to paragraph 6 of … IT-293R, a debt or obligation is settled or extinguished when the obligation to pay ceases to exist, and payment, cancellation, set-off, substitution of debtors and release are among the means of settlement. … Furthermore … Richer indicat[ed] that "in the context of section 80, the word 'settle' connotes a final and legally binding resolution that terminates or reduces the debtor’s obligations” …. ...

After noting that the case was not appealed because in the result it was favourable and it was only an informal procedure case, CRA then summarized the facts, stating that the Oka shareholders engaged in "three avoidance transactions" (TaxInterpretations translation) for appropriating the surplus of Oka which, in December 2004, had already "... and was in the course of liquidating the remainder of its assets:" First, on March 1, 2005, there was an internal rollover of their shares in the capital stock of Oka in order to crystallize in the adjusted cost base ("ACB") of new shares, the excess of the fair market value ("FMV") of the transferred shares over their ACB, thereby realizing a capital gain in respect of which the capital gains deduction in section 110.6 was not claimed. The second transaction, effected on March 15, 2005, was to roll those new shares in the capital stock of Oka to a new corporation (9149-7321 Quebec Inc., hereafter « Quebec Inc. ») in exchange for shares of two classes in the capital of Quebec Inc.: the first class of shares having a low PUC and an ACB equal to their FMV (the "1971 FMV Shares") and the second class of shares having a high PUC (which was the purpose of the second transaction) and a high ACB equal to their FMV (the "Stripping Shares"). ... The CRA continues of the view that ITA subsection 84(2) should have applied in this case especially by reason of … MacDonald …. ...

Each is a question of fact …. … Paragraph 3 of IT-459 mentions that although an adventure or concern in the nature of trade is included in the definition of the term "business" in section 248 of the Act, it does not necessarily mean that a taxpayer who is engaged in an adventure or concern in the nature of trade is "carrying on" a business or has "carried on" a business. ...

5 October 2018 APFF Roundtable Q. 9, 2018-0768801C6 F- Tax on Split-- summary under Subparagraph (a)(i) Summary Under Tax Topics- Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Shares- Paragraph (a)- Subparagraph (a)(i) portfolio investment company might qualify as having a business 2018 STEP Roundtable Q.6 and Q.7 confirmed that the shares of a holding company (or of a company generating no business income) cannot qualify as excluded shares, whereas Examples 8 to 12 of CRA’s “ Guidance on the application of the split income rules for adults ” and the Department of Finance’s “ Technical Backgrounder on Measures to Address Income Sprinkling ” provide that such shares so qualify. ... CRA stated: The CRA's response to [Q.7] …was based on the assumption made in the statement of that question that the corporation had no business income. … …[In its Guidance] … to demonstrate that the various exclusions were applicable … to entities carrying on a business whose principal purpose is to derive income from property, including interest, dividends, rents and royalties, such as investment management corporations (in Examples 8 and 12), the CRA assumed that these corporations maintained a sufficient level of activity such that their income could be considered as derived from such a business. ... X, her shares are “excluded shares” if such $100,000 of income was “derived from the carrying on of a business the purpose of which is to earn interest income and dividends … notwithstanding the fact that the capital used in the acquisition by Holdco of the property used in carrying on its business was derived from dividends received from Opco.” ...