Search - consideration

Where a limited partner transfers his partnership units to a Canadian corporation in accordance with subsection 85(1) of the Act and files the required election in accordance with subsection 85(6) of the Act, there will not normally be a capital gain to the transferor "here the amount agreed upon does not exceed the adjusted cost base of the partnership units transferred and the non-share consideration does not exceed the adjusted cost base of the partnership unit's. ... These comments represent our opinion of the law as it applies generally and do not take into account considerations that might arise in the context of a specific factual situation. ...

Therefore, consideration could be given to the possibility that the purchasing taxpayer is not the beneficial owner of the grain. ... Consideration should be given to the reassessment of the companies which provided the grain to the taxpayers which have claimed the inventory allowances. ...

Consequently, although CPP contributions that are required to be paid during the leave period are to be deducted and remitted by the trustee as by any other employer, CPP contributions paid in the year prior to the leave period must be taken into consideration by the trustee. ... However, since CPP contributions made during the year prior to the leave period are to be taken into consideration by the trustee, the amount of contributory earnings reported by the trustee may not coincide with the earnings reported in box “C” for that particular year. ...

So far as we are aware there is no judicial precedent on the question of whether subparagraph 95(2)(a)(i) could apply to a situation of the kind here under consideration. ... The policy considerations in determining whether a Canadian resident has moved investment income offshore are quite different from those which apply in determining whether the capital formation of a Canadian-controlled private corporation needs assistance. ...

Position: At this time, the CRA is in the process of consulting internal stakeholders to evaluate and potentially develop a position on this issue, while giving consideration to the impacts on other foreign reporting forms. 2021 Canadian Tax Foundation Conference CRA Roundtable Question 14: Failure to properly file a T1135 and Section 233.4 Generally, under section 233.3, every taxpayer owning “specified foreign property” with a total cost amount greater than $100,000 is required to file a Form T1135 in respect of each of its taxation years in which the $100,000 total is exceeded. ... At this time, the CRA is in the process of consulting internal stakeholders to evaluate and potentially develop a position on this issue, while giving consideration to the impacts on other foreign reporting forms. ...

As part of a negotiated property settlement it has been agreed that, by way of a series of transactions, W's shares in Propco be acquired by H for cash consideration prior to a final divorce judgment. 4. ... It is contemplated that H will transfer all his preferred shares in Propco to Wco and will take back, as sole consideration, redeemable preferred shares with a redemption value equal to the fair market value of the Propco preferred shares and a paid-up capital as defined in paragraph 89(1)(c) of the Act equal to the paid-up capital of the Propco preferred shares. 6. ...

Consequently, while CPP contributions that are required to be paid during the leave period are to be deducted and remitted by the trustee as by any other employer, CPP contributions paid in the year prior to the leave period must be taken into consideration by the trustee. ... However, since CPP contributions made during the year prior to the leave period are to be taken into consideration by the trustee, the amount of contributory earnings reported by the trustee may not coincide with the earnings reported in box "C" for that particular year. ...

Consequently, while CPP contributions that are required to be paid during the leave period are to be deducted and remitted by the trustee as by any other employer, CPP contributions paid in the year prior to the leave period must be taken into consideration by the Trustee. ... However, since CPP contributions made during the year prior to the leave period are to be taken into consideration by the trustee, the amount of contributory earnings reported by the trustee may not coincide with the earnings reported in box "C" for that particular year. ...

Consequently, while CPP contributions that are required to be paid during the leave period are to be deducted and remitted by the trustee as by any other employer, CPP contributions paid in the year prior to the leave period must be taken into consideration by the Trustee. ... However, since CPP contributions made during the year prior to the leave period are to be taken into consideration by the trustee, the amount of contributory earnings reported by the trustee may not coincide with the earnings reported in box "C" for that particular year. ...

Consequently, while CPP contributions that are required to be paid during the leave period are to be deducted and remitted by the trustee as by any other employer, CPP contributions paid in the year prior to the leave period must be taken into consideration by the Trustee. ... However, since CPP contributions made during the year prior to the leave period are to be taken into consideration by the trustee, the amount of contributory earnings reported by the trustee may not coincide with the earnings reported in box "C" for that particular year. ...