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Technical Interpretation - Internal summary

4 January 2006 Internal T.I. 2005-0115801I7 F - Convention de retraite -- summary under Retirement Compensation Arrangement

4 January 2006 Internal T.I. 2005-0115801I7 F- Convention de retraite-- summary under Retirement Compensation Arrangement Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Retirement Compensation Arrangement arrangement was not an RCA because the benefits were not reasonable A closely-held corporation that was dividending out all the profits of its business also established a purported retirement compensation arrangement (RCA) trust for two employees who, indirectly, were the corporation’s two shareholders, and made contributions to the trust that were funded by loans from the trust. ...
Technical Interpretation - Internal summary

4 January 2006 Internal T.I. 2005-0115801I7 F - Convention de retraite -- summary under Subsection 56(2)

4 January 2006 Internal T.I. 2005-0115801I7 F- Convention de retraite-- summary under Subsection 56(2) Summary Under Tax Topics- Income Tax Act- Section 56- Subsection 56(2) contributions to purported RCA that provided excessive benefits to employee/ultimate shareholders were included in the direct shareholders’ income under s. 56(2) A closely-held corporation that was dividending out all the profits of its business also established a purported retirement compensation arrangement (RCA) trust for two employees who, indirectly, were the corporation’s two shareholders, and made contributions to the trust that were funded by loans from the trust. ...
Technical Interpretation - Internal summary

4 January 2006 Internal T.I. 2005-0115801I7 F - Convention de retraite -- summary under Salary Deferral Arrangement

4 January 2006 Internal T.I. 2005-0115801I7 F- Convention de retraite-- summary under Salary Deferral Arrangement Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Salary Deferral Arrangement contributions to a purported RCA that contemplated excessive benefits also were not in relation to an SDA because the contributions instead were indirect shareholder appropriations A closely-held corporation that was dividending out all the profits of its business also established a purported retirement compensation arrangement (RCA) trust for two employees (Mr. ...
Technical Interpretation - Internal summary

2 February 2001 Internal T.I. 2000-0058127 F - Convention d'émission d'actions -- summary under Subsection 7(2)

2 February 2001 Internal T.I. 2000-0058127 F- Convention d'émission d'actions-- summary under Subsection 7(2) Summary Under Tax Topics- Income Tax Act- Section 7- Subsection 7(2) s. 7(2) could apply if shares were held by the employer for later acquisition by the employee In the course of a general discussion, the Directorate noted that the application of s. 7 was not restricted to stock options and that it could apply where the employer issued shares for no consideration as a gift or reward, and that where there was an agreement of the employer to hold shares in trust, conditionally or unconditionally, on behalf of an employee until certain conditions were satisfied, then pursuant to s. 7(2), the employee was deemed, for the purposes of ss. 7, 110(1)(d) and (d.1), to acquire the shares at the time the trust begins to hold the shares for the employee. ...
Technical Interpretation - Internal summary

29 May 2007 Internal T.I. 2006-0217401I7 F - 110(1)d): Moment de la conclusion de la convention -- summary under Clause 110(1)(d)(ii)(A)

29 May 2007 Internal T.I. 2006-0217401I7 F- 110(1)d): Moment de la conclusion de la convention-- summary under Clause 110(1)(d)(ii)(A) Summary Under Tax Topics- Income Tax Act- 101-110- Section 110- Subsection 110(1)- Paragraph 110(1)(d)- Subparagraph 110(1)(d)(ii)- Clause 110(1)(d)(ii)(A) where options previously granted were not exercisable until an employer “Exercise Notice,” the stock option agreement was made at such notice time Employees of Opco (Participants”) were granted stock options by Opco pursuant to “Grant Agreements” which specified the number of Options granted and their exercise price (which equaled the FMV of the subject shares at the time of such grant), but provided that such Options were not exercisable (and could not be surrendered to Opco for their cash surrender value) until the compensation committee of Opco had issued an “Exercise Notice” to the Participant. ...
Technical Interpretation - Internal summary

4 January 2006 Internal T.I. 2005-0115801I7 F - Convention de retraite -- summary under Paragraph 20(1)(r)

4 January 2006 Internal T.I. 2005-0115801I7 F- Convention de retraite-- summary under Paragraph 20(1)(r) Summary Under Tax Topics- Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(r) excessive benefits would have resulted in denial under ss. 18(1)(o.2) and 20(1)(r) had the arrangement qualified as an RCA A closely-held corporation that was dividending out all the profits of its business also established a purported retirement compensation arrangement (RCA) trust for two employees who, indirectly, were the corporation’s two shareholders, and made contributions to the trust that were funded by loans from the trust. ...
Technical Interpretation - Internal summary

4 January 2006 Internal T.I. 2005-0115801I7 F - Convention de retraite -- summary under Section 67

4 January 2006 Internal T.I. 2005-0115801I7 F- Convention de retraite-- summary under Section 67 Summary Under Tax Topics- Income Tax Act- Section 67 Petro-Canada applied re determining reasonableness A closely-held corporation that was dividending out all the profits of its business also established a purported retirement compensation arrangement (RCA) trust for two employees who, indirectly, were the corporation’s two shareholders, and made contributions to the trust that were funded by loans from the trust. ...
Technical Interpretation - Internal summary

29 May 2007 Internal T.I. 2006-0217401I7 F - 110(1)d): Moment de la conclusion de la convention -- summary under Subsection 7(5)

29 May 2007 Internal T.I. 2006-0217401I7 F- 110(1)d): Moment de la conclusion de la convention-- summary under Subsection 7(5) Summary Under Tax Topics- Income Tax Act- Section 7- Subsection 7(5) not giving exercise notice to employees who are not shareholders (so that they cannot exercise their options) may engage s. 7(5) Employees of Opco (Participants”) were granted stock options by Opco pursuant to “Grant Agreements” which specified the number of Options granted and their exercise price (which equaled the FMV of the subject shares at the time of such grant), but provided that such Options were not exercisable (and could not be surrendered to Opco for their cash surrender value) until the compensation committee of Opco had issued an “Exercise Notice” to the Participant. ...
Technical Interpretation - Internal summary

1 March 2010 Internal T.I. 2009-0346951I7 F - Article XVI-Établissement stable-Province -- summary under Article 16

1 March 2010 Internal T.I. 2009-0346951I7 F- Article XVI-Établissement stable-Province-- summary under Article 16 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 16 Art. XVI of US Convention applicable irrespective of whether a PE A U.S.-incorporated resident of the U.S. for Treaty purposes (“Non-Resident Corporation”), whose shares were 50% owned by a non-resident artist whom it represented, presented various shows in Canadian provinces, and received a share of the revenues from the promoter. ... Before finding that Non-Resident Corporation did not have a permanent establishment in any province for purposes of Part IV of the Regulations, the Directorate stated: Article XVI of the Convention … applies without regard to, inter alia, Article VII of the Convention, and... permits Canada to tax income derived by a non-resident company from performances in Canada without requiring that such income be earned through a permanent establishment in Canada under the Convention. ...
Technical Interpretation - Internal summary

4 June 2019 Internal T.I. 2018-0783441I7 F - Sale of land by a resident of Hong Kong -- summary under Article 13

4 June 2019 Internal T.I. 2018-0783441I7 F- Sale of land by a resident of Hong Kong-- summary under Article 13 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 13 Canadian land was not Treaty-exempt even where it did not generate income A non-resident individual (the "Non-resident") residing in Hong Kong for the purposes of the Canada-Hong Kong Convention disposed of land located in Canada to an arm's length third party. CRA stated: [T]he capital gain from the disposition of the Land by the Non-resident is taxable in Canada under Article 13, paragraph 1, of the Convention, whether or not that property has generated property income or business income. Indeed, we understand that the reference to Article 6, "Income from Immovable Property", in Article 13, paragraph 1, of the Convention does not have the effect of reducing the scope of that paragraph. ...

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