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Financial Claim Review Manual – Review procedures for financial reviewers SR&ED Program Previous chapter Table of contents Next chapter Chapter 6.0 Finalizing the Review Table of contents 6.1 Summary of chapter 6.2 Requirements of the chapter 6.3 Introduction 6.4 Reports to document the results of the review 6.4.1 The SR&ED financial review report 6.4.1.1 Contents of the SR&ED financial review report 6.4.2 Short SR&ED financial review report 6.4.3 Penalty recommendation report 6.4.4 Taxpayer relief (fairness) report 6.4.5 Documentation for Headquarters 6.5 Forms for finalizing an SR&ED claim review 6.5.1 T7W-9 and T7W-C 6.5.1.1 Amalgamations 6.5.1.2 Non-capital loss application on T7W-9 6.5.2 T99A- T2 Tax Calculation Information Sheet 6.5.2.1 Area A – Multiple jurisdictions 6.5.2.2 Area B – Calculation of taxable income – Loss carryback 6.5.2.3 Area C – Changes in investment income and income from active business 6.5.2.4 Area D – Small business deduction 6.5.2.5 Area E – Manufacturing and processing profits deduction 6.5.2.6 Area F – Part IV Tax (private and subject public corporation at any time during the year) 6.5.2.7 Area G – Dividend refund 6.5.2.8 Area H – Surtax credit (1992 and subsequent years) 6.5.2.9 Area I – Federal investment tax credit (Subsection 127(5) of the Act) 6.5.2.10 Area J – Section 163 penalties 6.5.2.11 Area K – Appeal 6.5.3 Revised schedules 6.6 Audit Information Management System 6.7 Assessments 6.7.1 Legislative authority 6.7.2 Normal reassessment period (statute-barred date) 6.7.3 Nil assessment – Notification 6.8 Loss determination 6.8.1 Loss determination statement 6.9 T2 Corporation Income Tax Returns approaching the statute-barred date 6.9.1 Processing procedures 6.10 Preassessment refund 6.11 Loss carryback administrative procedures 6.12 Revision of capital cost allowance, SR&ED expenditures and other permissive deductions 6.13 Retention of hard copy (paper) documents 6.14 Permanent documents 6.15 Indexing and organization of working papers 6.15.1 Indexing and cross-referencing 6.16 Additional considerations for large files 6.17 Checklist for the assembly of the SR&ED review file 6.18 Assembling the file for (re)assessing 6.19 Processing the SR&ED File This is a message which indicates that the Claim Review Manual for SR&ED financial reviewers is now effective and that the public severed version is available. 6.1 Summary of chapter This chapter discusses the procedures for finalizing the review. The main topics of this chapter are: 6.2 Requirements of the chapter 6.3 Introduction 6.4 Reports to document the results of the review 6.5 Forms for finalizing an SR&ED claim review 6.6 Audit Information Management System 6.7 Assessments 6.8 Loss determination 6.9 T2 Corporation Income Tax Returns approaching the statute-barred date 6.10 Preassessment refund 6.11 Loss carryback administrative procedures 6.12 Revision of capital cost allowance, SR&ED expenditures and other permissive deductions 6.13 Retention of hard copy (paper) documents 6.14 Permanent documents 6.15 Indexing and organization of working papers 6.16 Additional considerations for large files 6.17 Checklist for the assembling of the SR&ED review file 6.18 Assembling the file for (re)assessing 6.2 Requirements of the chapter This chapter outlines what is required to finalize the SR&ED review. ... Refer to Chapter 5.10.2 for details. 6.16 Additional considerations for large files Once again the FR should consult with the LFCM to determine if the SR&ED adjustments will be assessed independently or concurrently with the adjustments of other audit functions. ...

For example, the entity could hold assets for a customer of a related entity, or consideration is paid to a related entity, either as an identifiable payment or as one element of a consolidated payment. ... Other considerations 10.78 A Canadian financial institution may receive a self-certification from an entity that is not resident in Canada that it is a financial institution. ... If this is an important consideration for a financial institution in connection with its initial transition to the Part XVIII regime, it can act accordingly so long as there is no delay of more than six calendar days, the transition procedure is documented, and the purposes of the Agreement are not frustrated by any such scheduling. ...

These are calculated by reference to a specified index upon a notional principal amount in exchange for specified consideration or a promise to pay similar amounts.); an insurance contract or an annuity contract; and any option or other derivative instrument. 6.28 Insurance contracts and annuity contracts are not considered to be custodial accounts. ... Other considerations 10.60 A Canadian financial institution may receive a self-certification from an entity that is not resident in Canada that it is a financial institution. ... If this is an important consideration for a financial institution in connection with its initial transition to the Part XVIII regime, it can act accordingly so long as there is no delay of more than six calendar days, the transition procedure is documented, and the purposes of the Agreement are not frustrated by any such scheduling. ...

When is consideration paid without having become due? Consideration is paid without having become due when a recipient pays all or part of the consideration for a supply before the amount becomes due. ... Since the consideration becomes due on July 5, 2016, HST at 15% applies to the total consideration payable for the supply, including the $100 deposit. 18. ...

When is consideration paid without having become due? Consideration is paid without having become due when a recipient pays all or part of the consideration for a supply before the amount becomes due. ... Since the consideration becomes due on October 5, 2016, HST at 15% applies to the total consideration payable for the supply, including the $100 deposit. 18. ...

What rate of tax applies on the amount of consideration charged on this invoice? ... The reduced 5% GST or 13% HST rate will apply to the consideration for that supply. 46. ...

If yes, the payment may not be regarded as consideration. (b) a purchase purpose? ... If yes, this suggests that the payment is for a public purpose and may not be consideration. ... SUMMARY OF POLICY GUIDELINES IS A TRANSFER PAYMENT CONSIDERATION FOR A SUPPLY? ...

The consideration includes the additional amount payable in respect of the deck. 57. ... The total consideration payable for the housing is the sum of the following: the value of the consideration payable for the new housing as determined for GST/HST purposes, plus the sum of the value of the consideration for any taxable interest (such as an option to purchase the housing) payable by the recipient to the supplier in respect of the new housing. ... The amount of the rebate is equal to 1.0% multiplied by the total consideration. 75. ...

What rate of tax applies on the amount of consideration charged on this invoice? ... The 5% GST rate would apply to the consideration for that supply. 41. ...

The consideration payable for the assignment must be included in determining the consideration for the house for purposes of the GST/HST new housing rebate. ... The consideration payable (excluding GST and any rebate) for the house is $450,000. ... The following rules would apply based on the earlier of the date the consideration for the lease, licence or similar arrangement becomes due and the date the consideration is paid without having become due. ...