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Bundle Date Translated severed letter Summaries under Summary descriptor 2012-01-27 4 January 2012 Internal T.I. 2011-0408081I7 F- Transactions entre une société et ses actionnaires Income Tax Act- Section 13- Subsection 13(7)- Paragraph 13(7)(e)- Subparagraph 13(7)(e)(i) s. 13(7)(e)(i) capital cost equals consideration paid even where in excess of FMV 2012-01-20 13 January 2012 Internal T.I. 2011-0414111I7 F- Deemed Interest Incomes- Exception 17(8) Income Tax Act- Section 17- Subsection 17(8)- Paragraph 17(8)(a)- Subparagraph 17(8)(a)(ii) CFA 1's purchased debt of CFA 2 did not qualify as a loan or advance 4 January 2012 External T.I. 2011-0414731E5 F- Interaction between 84.1 and 83(2) ITA Income Tax Act- Section 83- Subsection 83(2) no s. 83(2) election available for s. 84.1(1)(b) deemed dividend paid to non-shareholder Income Tax Act- Section 84- Subsection 84(7) s. 84(7) might contradict CRA position that no s. 83(2) election on s. 84.1 dividend to non-shareholder 2012-01-13 16 December 2011 External T.I. 2011-0419211E5 F- Choix à 45(2) Income Tax Act- Section 45- Subsection 45(2) devisee of changed-use principal residence cannot benefit from s. 45(2) election by estate in years following testator’s death 2011-12-30 16 December 2011 External T.I. 2011-0412502E5 F- Remboursement- frais de scolarité Income Tax Act- Section 118.1- Subsection 118.1(5)- Paragraph 118.1(5)(a)- Subparagraph 118.1(5)(a)(iii) credit can be claimed where employee is subsequently required to reimburse employer for employer-paid tuition Income Tax Act- Section 118.6- Subsection 118.6(1)- Qualifying Educational Program no benefit denying credit if employee is subsequently required to reimburse employer for employer-paid tuition 21 November 2011 External T.I. 2011-0422191E5 F- Price adjustment clause and redemption of shares General Concepts- Effective Date additional payment, pursuant to price adjustment clause, in year following shares; redemption is recognized then Income Tax Act- Section 84- Subsection 84(3) price adjustment payment recognized as s. 84(3) dividend when received ...

Based on this and other considerations, including the French version- which effectively refers to an “amalgamation” rather than the somewhat broader term “merger” (which nonetheless is not cognate with a winding-up) – it is suggested that s. 40(3.5)(c)(i) applies to Canadian amalgamations and similar foreign reorganizations, in which two or more companies merge to form a single corporate entity (such as foreign mergers described in subsection 87(8.1).). ...

IV(6) for the 5% Treaty-reduced rate on dividends to its U.S. parent Email this Content Canco, which is wholly-owned by a disregarded US LLC (Parentco LLC which, in turn is wholly-owned by a corporation residing in the US for Treaty purposes (Parentco),), will be assessed by CRA to include in its income, under s. 247(2), the difference between an arm’s length price for goods sold by Canco to a sister company (Sisterco LLC, a disregarded LLC wholly-owned by Parentco LLC) and the consideration paid, and also will be assessed for a secondary adjustment under s. 247(12) on the basis that the resulting benefit conferred on Sisterco LLC was deemed to be a dividend that was paid by Canco and that was subject to a Pt. ...

11 December 2019- 11:48pm 626468 New Brunswick – Federal Court of Appeal finds that safe income from asset sale was reduced by accrued, but not yet payable, taxes on the gain Email this Content An individual rolled his apartment building into a Newco in consideration for a mortgage assumption and shares with nominal paid-up capital, and then rolled those shares into a new Holdco. ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2011-02-25 8 October 2010 Roundtable, 2010-0373161C6 F- Paragraphs 256(3) and 256(6) ITA Income Tax Act- Section 256- Subsection 256(6) application could prevent acquisition of control or preclude loss of CCPC status 8 October 2010 Roundtable, 2010-0373191C6 F- Computation of safe income Income Tax Act- Section 55- Subsection 55(2.1)- Paragraph 55(2.1)(c) where interest in partnership holding Subco with safe income is rolled into Holdco for prefs, dividends from Subco do not change consolidated SIOH of prefs – or increase commons’ SIOH 2011-02-18 8 October 2010 Roundtable, 2010-0373131C6 F- Présomption d'action concertée Income Tax Act- Section 251.2- Subsection 251.2(2)- Paragraph 251.2(2)(a) Q of fact re whether 3 or more CCPC shareholders form a group 9 December 2010 Internal T.I. 2010-0371741I7 F- Automobiles mises à la disposition des employés Income Tax Act- Section 248- Subsection 248(1)- Automobile qualification as automobiles turns on design, not use Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(e) employer-provided automobile to attend occasional off-site meetings did not generate a benefit 24 January 2011 Internal T.I. 2010-0389251I7 F- Farm-out agreement and warrants Income Tax Act- Section 66.1- Subsection 66.1(6)- Canadian exploration expense- Paragraph (j) CEE to be incurred under simple farmout reduced by an allocation to warrants issued by farmee Income Tax Act- Section 15- Subsection 15(1) valuation of “free” warrants issued as part of a simple farmout agreement determined based on what would be a s. 15(1) benefit General Concepts- Fair Market Value- Options amount allocated out of consideration to “free” warrants based on the greater of their trading and in-the-money value Income Tax Act- Section 66.1- Subsection 66.1(6)- Canadian exploration expense- Paragraph (f) application of farmout policy to situation where free warrants issued along with incurring of CEE ...

7 July 2020- 11:41pm Iberville Developments – Federal Court of Appeal confirms that the starting ACB of a partnership interest was determined exclusively under s. 97(2)(b) Email this Content A corporate taxpayer having shopping centres with a cost amount and fair market value of $14M and $130M, respectively, contributes the properties under s. 97(2) to a newly-formed LP in consideration for boot of $14M and units with a FMV of $116M. ...

Pike held special voting shares) in consideration for non-voting common shares of the Child Corporation. ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2010-01-29 19 January 2010 External T.I. 2009-0349421E5 F- Récompenses visées par règlement Income Tax Regulations- Regulation 7700 Quebec citizenship prizes are prescribed prizes 2010-01-22 8 January 2010 External T.I. 2009-0344061E5 F- Crédit d'impôt pour la rénovation domiciliaire General Concepts- Ownership partner is “owner” of partnership property for principal residence exemption purposes Income Tax Act- Section 54- Principal Residence partner can claim principal residence exemption Income Tax Act- Section 118.04- Subsection 118.04(1)- Eligible Dwelling- Paragraph (a) residence of a partnership, but not a corporation, can be an eligible dwelling 8 January 2010 External T.I. 2009-0349721E5 F- Crédit d'impôt pour la rénovation domiciliaire Income Tax Act- Section 96 partner implicitly treated as owning partnership property Income Tax Act- Section 118.04- Subsection 118.04(1)- Eligible Dwelling- Paragraph (a) partner incurring renovation expenses while occupying partnership residence can claim HRTC 11 January 2010 External T.I. 2009-0340591E5 F- Specified class- 256(1.1) of the Act Income Tax Act- Section 256- Subsection 256(1.1)- Paragraph 256(1.1)(d) s. 256(1.1)(d) must be met throughout the period the shares were outstanding – but can cleanse with s. 51 exchange Income Tax Act- Section 51- Subsection 51(1) s. 51(1) exchange regarded as the new shares having been issued for consideration equalling the FMV of the old shares 13 January 2010 External T.I. 2010-0353221E5 F- CIRD- Réparations Income Tax Act- Section 118.04- Subsection 118.04(1)- Qualifying Renovation minor repairs qualified as being on an enduring nature Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(b)- Capital Expenditure v. ...

This amount recognized as the consideration for Lockwood’s services “thus becomes the adjusted cost base of the AOI shares received in 2012. ...

Summaries of Michel Ranger and Rhonda Rudick, “Federal and Provincial Tax Considerations Relating to Non-Resident Investment in Canadian Real Estate”, 2019 Conference Report (Canadian Tax Foundation), 32:1 – 39 under Reg. 805, s. 216(1), s. 248(1) – taxable Canadian property – (c), (a). ...