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Bundle Date Translated severed letter Summaries under Summary descriptor 2024-12-04 19 January 2024 External T.I. 2020-0865921E5 F- Foreign Currency dispositions by an individual Income Tax Act- Section 39- Subsection 39(1.1) foreign currency dispositions under s. 39(1.1) include FX bank deposit conversions 2001-04-13 28 March 2001 External T.I. 2001-0070415 F- Interaction entre les articles 51 et 116 Income Tax Act- Section 116- Subsection 116(5) acquisition of the exchanged shares by the corporation on a s. 51 exchange at a cost equal to PUC of issued shares Income Tax Act- Section 54- Adjusted Cost Base a corporation acquires shares in its capital on a s. 51 exchange at a cost equal to the PUC of the shares issued therefor Income Tax Act- Section 116- Subsection 116(6)- Paragraph 116(6)(a) s. 116(6)(a) does not apply to shares acquired by Canco on a s. 51 exchange of Canco shares Income Tax Act- Section 51- Subsection 51(1) on a s. 51 exchange, the corporation is considered to have acquired the exchanged shares at a cost equal to the PUC of the shares issued by it 26 March 2001 External T.I. 2001-0070165 F- Conventions fiscales et lois provinciales Treaties- Income Tax Conventions- Article 12 Canada will not reduce its withholding rate to 0% to make room for Quebec taxes imposed on the same property income Treaties- Income Tax Conventions- Article 2 Canada has no obligation to absorb Quebec taxes imposed on property income with treaty-reduced withholding 26 March 2001 External T.I. 2001-0070585 F- Interaction entre Convention Canada-US et LIR Treaties- Income Tax Conventions- Article 13 Art. ...

16 January 2019- 11:56pm Reyes – Federal Court of Appeal finds that Columbia-source government pension was not exempt from Canadian tax Email this Content Gauthier JA found that Canada had the clear right under Art. 17 of the Canada-Columbia Convention to tax a former Columbia government employee (now resident in Canada) on a pension from Columbia that was exempt under the Columbia tax laws. ... Canada, 2019 FCA 7 under Treaties – Income Tax Conventions- Art. 18. ...

Income Tax Convention, remuneration (including stock option benefits) received by a U.S. ... CRA considers that where the Canadian parent with the employee stock option plan is reimbursed by its U.S. subsidiary, as "the true and only" employer of the U.S. employee, for the amount of the stock option benefit arising on exercise, the U.S. subsidiary will qualify as the person who has paid the remuneration in question (the stock option benefit), so that such benefit will be exempt under the Convention.  ... CRA also notes that their method of computing the amount of the stock option benefit for domestic purposes (under s. 115(1)(a)(i)) is different from the methodology in Annex B  to the Fifth Protocol to the Convention- and that the domestic method should be used if this produces a lower computed benefit than the Treaty method. ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2009-10-16 30 September 2009 External T.I. 2009-0317641E5 F- Attribution de revenu Income Tax Act- Section 75- Subsection 75(2) issuance of shares at FMV is not a transfer of property to which s. 75(2) can apply Income Tax Act- 101-110- Section 104- Subsection 104(6)- Paragraph 104(6)(b) discretionary trust could distribute, and deduct under s. 104(6), a dividend received by it to a corporate beneficiary incorporated after the dividend’s receipt 2009-10-09 30 September 2009 External T.I. 2009-0340061E5 F- FERR au profit de l'époux ou du conjoint de fait Income Tax Act- Section 146- Subsection 146(1)- Spousal or Common-Law Partner Plan a RRIF receiving a transfer from a spousal or common-law partner RRSP is rendered a spousal or common-law partner plan 2009-10-02 16 September 2009 External T.I. 2008-0295951E5 F- Article XVI de la Convention Canada-É.U Treaties- Income Tax Conventions- Article 16 $15,000 gross receipts exclusion under Art. XVI(1) of US Convention is inapplicable where the income is earned by the artist’s corporation 2009-09-25 8 September 2009 External T.I. 2008-0299771E5 F- Gain on Disposition of Debt Income Tax Act- Section 43- Subsection 43(1) partial repayment of low-ACB debt generates a capital gain Income Tax Act- Section 9- Computation of Profit partial repayment of low-cost debt generates business income if held on income account 17 September 2009 External T.I. 2009-0310251E5 F- Interaction between sections 89 and 55 Income Tax Act- Section 89- Subsection 89(1)- Capital Dividend Account- Paragraph (a) addition to CDA from redemption engaging s. 55(2) occurs at redemption time ...

Topic Descriptor 15 September 2020 IFA Roundtable Q. 1, 2020-0853411C6 F- IFA 2020 Roundtable – T2057 & Functional Currency Income Tax Act- Section 261- Subsection 261(5)- Paragraph 261(5)(a) different currency reporting of s. 85(1) rollover where one party has elected a funcitional currency Income Tax Act- Section 85- Subsection 85(1) dual-currency filing of s. 85 elections where the transferor and transferee have different tax reporting currencies 15 September 2020 IFA Roundtable Q. 2, 2020-0852741C6- IFA 2020- Q2- WHT on mismatched swap payments Income Tax Act- Section 212- Subsection 212(1)- Paragraph 212(1)(b) interest not imputed on mismatched cross-border swap payments 15 September 2020 IFA Roundtable Q. 3, 2020-0853371C6- IFA 2020 Q3: Draft IC71-17R6, Paragraph 43 Treaties- Income Tax Conventions- Article 26 Canada does not negotiate away its application of domestic anti-avoidance rules Income Tax Act- Section 247- New- Subsection 247(2)- Paragraph 247(2)(b) ss. 247(2)(b) and 245(2) treated the same for MAP procedure purposes 15 September 2020 IFA Roundtable Q. 4, 2020-0853391C6- IFA 2020 Q4: Impact Covid-19 on CRA procedures Income Tax Act- Section 152- Subsection 152(4) no extension under Bill-20 (re COVID) beyond December 31, 2020 Treaties- Income Tax Conventions- Article 26 COVID-19 has not changed Treaty time limitations 15 September 2020 IFA Roundtable Q. 5, 2020-0853401C6- IFA 2020 Q5: TPM-17 and COVID-19 Income Tax Act- Section 247- New- Subsection 247(2)- Paragraph 247(2)(a) Canadian governmental COVID assistance likely will not reduce cost under cost-plus transfer-pricing methods Treaties- Income Tax Conventions- Article 9 Cdn governmental COVID assistance generally does not reduce cost ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2006-04-07 28 March 2006 Internal T.I. 2005-0109761I7 F- Commandite reçue par une athlète Income Tax Act- Section 3- Paragraph 3(a) sponsorship received by amateur student athlete was not from a source of income 16 March 2006 External T.I. 2005-0133301E5 F- Arrérages pension alimentaire reçus par succession Income Tax Act- Section 56- Subsection 56(1)- Paragraph 56(1)(b) support arrears received by estate were tax-free Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Legal and other Professional Fees legal fees to settle an estate are non-deductible 28 March 2006 Internal T.I. 2005-0151711I7 F- Récompense visée par règlement Income Tax Regulations- Regulation 7700 prize to award excellence in teaching materials was a prescribed prize 29 March 2006 Internal T.I. 2006-0171171I7 F- Convention de retraite Income Tax Act- Section 248- Subsection 248(1)- Retirement Compensation Arrangement plan was not an RCA because benefits were unreasonable Income Tax Act- Section 67 application of a version of the Gabco test 2006-03-31 6 March 2006 External T.I. 2005-0155271E5 F- Disposition d'une participation au capital Income Tax Act- 101-110- Section 107- Subsection 107(2)- Paragraph 107(2)(a) computation of capital gain, where another taxpayer paid by another beneficiary to surrender his or her capital interest in the estate, based on para. (b) of “cost amount” 2006-03-24 22 March 2006 External T.I. 2005-0133061E5 F- Limitation Period Collection of Debts Income Tax Act- Section 222- Subsection 222(4)- Paragraph 222(4)(a)- Subparagraph 222(4)(a)(ii) 10-year limitation period did not start running for a pre-2004 debt until March 4, 2004 21 March 2006 External T.I. 2005-0158451E5 F- Québec Mining Duties Act- Credit for Losses Income Tax Act- Section 66.1- Subsection 66.1(6)- Cumulative Canadian exploration expense- Element J credit under the Quebec Mining Duties Act based on exploration and development losses of operator was not “assistance" under J Income Tax Act- Section 12- Subsection 12(1)- Paragraph 12(1)(x.2) credit under the Quebec Mining Duties Act based on exploration and development losses of operator was not includible under s. 12(1)(x.2) Income Tax Act- Section 66- Subsection 66(12.6)- Paragraph 66(12.6)(a) credit under the Quebec Mining Duties Act based on exploration and development losses of operator was too remote from the exploration to reduce the renounced CEE 2006-03-17 14 March 2006 External T.I. 2006-0170971E5 F- CRCE/Test Wind Turbine-FEREEC/Éolienne d'essai Income Tax Regulations- Regulation 1219- Subsection 1219(3)- Paragraph 1219(3)(f) requirement for 1500 m spacing of wind turbines not satisfied 15 March 2006 External T.I. 2005-0124911E5 F- Prestation compensatoire française Income Tax Act- Section 56.1- Subsection 56.1(4)- Support Amount life annuity, but not lump sum, received from divorced ex-spouse in France as “compensatory allowances” under the French Civil Code was taxable as support Treaties- Income Tax Conventions- Article 18 life annuity, was to be treated for Treaty purposes as alimony or similar payments since it was treated by CRA as a support amount under ITA Treaties- Income Tax Conventions- Article 3 treatment of a life annuity under ITA, as a support amount meant that it was to be treated for Treaty purposes as alimony or similar payments Treaties- Income Tax Conventions- Article 21 non-taxability of lump sum compensation allowance under French law not altered by Art. 21 16 March 2006 External T.I. 2006-0167361E5 F- Options et droits- Alinéa 251(5)b) Income Tax Act- Section 251- Subsection 251(5)- Paragraph 251(5)(b) bankruptcy exception does not include mere insolvency/no application where corporation is required under USA to redeem shares or under a letter of intent ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2013-11-20 11 October 2013 Roundtable, 2013-0493701C6 F- Amount paid or credited- Reg. 202 Income Tax Regulations- Regulation 202- Regulation 202(1)- Paragraph 202(1)(b) accounting method used by recipient does not affect which items are reported on NR4 23 September 2013 Internal T.I. 2012-0471531I7 F- Non-profit organization Income Tax Act- Section 149- Subsection 149(1)- Paragraph 149(1)(l) taxable member of an NPO can make loans at interest to it and receive repayment of the loan on the NPO’s winding-up 2013-11-13 11 October 2013 Roundtable, 2013-0495271C6 F- Flow-through shares and death Income Tax Act- Section 66- Subsection 66(12.66) lookback unavailable where taxpayer was deceased on December 31 of look-back year Income Tax Act- Section 66- Subsection 66(12.6) renunciation must take effect before the death of the deceased and is unavailable to estate 11 October 2013 Roundtable, 2013-0492821C6 F- Question 3- APFF Round Table 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 Other Legislation/Constitution- Federal- Income Tax Conventions Interpretation Act- Section 4.3 s. 4.3 precludes application of tie-breaker rule 11 October 2013 Roundtable, 2013-0495911C6 F- Insurable employment Other Legislation/Constitution- Federal- Employment Insurance Act- Section 5- Subsection 5(2)- Paragraph 5(2)(b) employment by employees of partnership of corporations is treated as joint employment by those corporations Income Tax Act- Section 7- Subsection 7(3)- Paragraph 7(3)(a) partners treated as employers of partnership employees 11 October 2013 Roundtable, 2013-0495901C6 F- Limited partnership loss and non-capital loss Income Tax Act- Section 111- Subsection 111(8)- Non-Capital Loss non-capital loss is not increased by amount otherwise deductible under s. 111(1)(e) ...

., Art. 8, para. 5 of the Canada-Italy Convention) does not specifically stipulate that such a deferral agreement is being entered into "in order to avoid double taxation" (see Art. ... Convention). Neal Armstrong.  Summary of 17 May 2012 IFA Conference 2012-0444161C6 under Treaties- Art. 13. ...

/South Africa Income Tax Convention should be interpreted as permitting the South African Revenue Service to secure the assistance of its U.K. counterpart in collecting tax debts of a South African which arose prior to the coming into force of that Convention.  ...