Search - convention

19 May 2010 IFA Roundtable, 2010-0366521C6- Canada-United States Tax Convention-- summary under Article 4 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 4 IV.6(b) not avoided using s. 78(1)(b) election A Canadian ULC has interest accrue on a loan from its US-resident parent ("USCo"), with the election being made under s. 78(1)(b) of the Act at the beginning of the third year to have the accrued interest deemed to be paid on that day. In response to an argument that this deemed payment was not subject to Article IV(7)(b) of the US Convention "because the deemed receipt in itself is not recognized under the taxation laws of the United States and would not be recognized if the ULC were not fiscally transparent", CRA indicated that what was required was "an analysis of the treatment of the item of income to which the deemed receipt relates" and that, in this instance, the interest itself would have been recognized under US laws if the ULC were not fiscally transparent. ...

28 May 2015 IFA Roundtable Q. 12, 2015-0581521C6- IFA 2015 Q.12: Canada-Switzerland Treaty-- summary under Income Tax Conventions Summary Under Tax Topics- Treaties- Income Tax Conventions resolution of conflicting French and English Treaty versions of Swiss Treaty in taxpayer's favour A corporation resident in Switzerland ("Swissco") wholly-owns "Holdco," which wholly-owns "Canco"). ...

17 May 2023 IFA Roundtable Q. 4, 2023-0965421C6- Canada-Barbados Income Tax Convention – “Special Tax Benefit”-- summary under Article 29 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 29 Class 2 licensees under the Barbados Insurance Act receive a “special tax benefit” for purposes of the Treaty-benefit exclusion Art. ...

6 October 2006 Roundtable, 2006-0197151C6 F- Acquisition selon convention entre actionnaires-- summary under Subsection 70(9.2) Summary Under Tax Topics- Income Tax Act- Section 70- Subsection 70(9.2) children’s exercise of a right in a shareholders’ agreement to acquire farmco shares that is triggered on their father’s death would not be a consequence of his death A shareholders' agreement gives children the right to acquire the shares of a farm corporation for $1 after their father's death. ...

6 October 2006 Roundtable, 2006-0197151C6 F- Acquisition selon convention entre actionnaires-- summary under Paragraph 248(8)(a) Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(8)- Paragraph 248(8)(a) children exercising right in shareholders’ agreement to acquire shares on father's death would not be a consequence of his death, cf. if pursuant to his will A shareholders' agreement gives children the right to acquire the shares of a farm corporation for $1 after their father's death. ...

10 October 2003 Roundtable, 2003-0037145 F- CONVENTION DE RETRAITE-- summary under Paragraph 207.6(2)(d) Summary Under Tax Topics- Income Tax Act- Section 207.6- Subsection 207.6(2)- Paragraph 207.6(2)(d) deemed withdrawals from RCA through payment of insurance benefits not subject to tax under para. ...

11 October 2013 Roundtable, 2013-0492821C6 F- Question 3- APFF Round Table-- summary under Article 4 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 4 s. 94 trusts were resident in Canada for Treaty purposes even before Income Tax Conventions Interpretation Act amendment, which precludes application of tie-breaker How would the Canada-U.S. Tax Convention (the "Convention") tie-breaker rules apply in a double residency case under the Convention and how could any double taxation be addressed? ... In addition, the legislative amendments … [under] the Income Tax Conventions Interpretation Act … a trust deemed to be resident in Canada pursuant to subsection 94(3) is deemed to be resident in Canada … for the purposes of the Convention. … [T]he effect of this new provision is to make it impossible to break the tie because it deems such an equality to be non-existent. ...

6 October 2017 APFF Roundtable Q. 12, 2017-0709111C6 F- Dépenses relatives à un congrès-- summary under Subsection 20(10) Summary Under Tax Topics- Income Tax Act- Section 20- Subsection 20(10) non-capital convention expenses incurred as business expense may be deducted without refererence to s. 20(10)- but “historically” convention expenses viewed as capital expenditures The two-convention limitation in s. 20(10) applies only to capital expenditures. Are expense of attending conventions which were incurred for earning income from a business not subject to this limitation? ... Historically, the CRA's position with respect to convention expenses is that such expenditures are generally capital expenditures to which paragraph 18(1)(b) applies. ...

11 October 2013 APFF Roundtable Q. 3, 2013-049281 F-- summary under Subsection 94(3) Summary Under Tax Topics- Income Tax Act- Section 94- Subsection 94(3) Question 3a- Factual dual residency How will CRA apply the tiebreaker rules in the Canada-US Convention in the case of dual residency? ... Question 3b- Deemed dual residency in Canada under s. 94(3) As s. 4.3 of the Income Tax Conventions Act prevails over the Convention, the Convention's tiebreaker rules cannot be applied where s. 94(3) deems a trust to be resident in Canada. ...

Convention Does Art. XXI, para. 7 of the Canada-U.S. Convention allow charitable foundations as defined in s. 149.1(1) to make donations to U.S. charitable organizations that are exempted under IRC s. 501(c)(3)? [P]aragraph 7 of Article XXI of the Convention does not allow for a U.S. charity to be treated as a "qualified donee" within the meaning of subsection 149.1(1). Consequently, Article XXI, paragraph 7, of the Convention does not allow charitable foundations to make donations to U.S. charities. ...