Search - considered

While publications of this type, including Explanatory Notes, are considered as permissible extrinsic aids... ...

Headings may also be considered as preambles to the provisions they introduce…. ...

Mosley J sent the file back for a redetermination on the issue of the penalty for 2011, partly on the basis that the CRA delegate had incorrectly considered the 2011 and 2012 income tax returns to be overdue (so that there was little excuse for not also timely filing the related T1135s), whereas in his view she was under no obligation to file such returns. ...

Mosley J sent the file back for a redetermination on the issue of the penalty for 2011, partly on the basis that the CRA delegate had incorrectly considered the 2011 and 2012 income tax returns to be overdue (so that there was little excuse for not also timely filing the related T1135s), whereas in his view she was under no obligation to file such returns. ...

The Queen, 2018 TCC 85-- summary under Subsection 104(1) Summary Under Tax Topics- Income Tax Act- 101-110- Section 104- Subsection 104(1) Quebec trusts are considered to be owners of their property for ITA purposes The taxpayers, in connection with arguing (at para. 62) that the reference in the preamble to s. 256(1.2)(f)(ii) to “shares … owned.. by a trust” should be interpreted as referring only to shares that had been earmarked under the deed of trust for the beneficiaries, went on to argue (para. 1261) that, having regard to Art. 1261 of the Civil Code, a Quebec trust was not the owner of the property in its patrimony. ...

The taxpayer considered that there was no significant distinction between the third policy (replacing lost income) and the first two policies (covering business expenses). ...

Consequently, technical services fees (which were deemed royalties) earned by Satyam, which in the absence of the Treaty would have been considered to not arise in Australia so that they would not have been subject to Australian income tax under the approximate Australian equivalent of ITA s. 115, were now deemed for the purposes of that provision to arise in Australia and to therefore be subject to Australian income tax. ...

Before confirming the reasonableness of CRA’s decision not to recommend relief, Roussel J commented as follows (at para. 5) on the quantum of the s. 7 benefit that ultimately was included in the taxpayer’s income for 2007 following his appeal of an assessment of his 2007 year: He argued that since the shares acquired were subject to numerous blackout periods and he was considered an insider of ZCL for the purposes of the TSX and relevant shares legislation and regulations, the assessed value of the shares should not be more than 60% of the trading price on the date of purchase. ...

Lin, 2019 FC 646-- summary under Paragraph 231.1(1)(a) Summary Under Tax Topics- Income Tax Act- Section 231.1- Subsection 231.1(1)- Paragraph 231.1(1)(a) low threshold of relevance- but auditees must be specified Three individuals whom CRA suspected of not disclosing offshore assets received letters requesting the filing of T1135s and requesting information, which CRA considered to be within its powers to request information under s. 231.1(1). ...

I agree that this lack of consistency between the two statutes may be a source of confusion for Quebec taxpayers and that it might be considered a source of unfairness, but it is not my role to rewrite the Act to avoid such an outcome. ...