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News of Note post
The King, 2023 TCC 167 under s. 212(2), Treaties – Income Tax Conventions – Art. 10, s. 245(1) – tax benefit, s. 245(4). ...
News of Note post
I tax 27 February 2002 External T.I. 2001-0109675 F- Période admissible et vacance Income Tax Act- Section 122.3- Subsection 122.3(1) period of employment abroad does not include vacation days that could have been taken abroad, but were not 18 March 2002 External T.I. 2002-0120065 F- Avoir fiscal français- 20(11) Income Tax Act- Section 90- Subsection 90(1) French avoir fiscal did not reduce the dividend from a French company required to be included in the resident individual shareholder’s income Treaties- Income Tax Conventions- Article 10 subsequent refund to Canadian shareholder of French avoir fiscal treated as a dividend payment for dividend withholding purposes 2 May 2002 Internal T.I. 2002-0122607 F- BIENS A USAGE PERSONNEL Income Tax Regulations- Regulation 1102- Regulation 1102(2) effective severance for ITA purposes of land and building by Reg. 1102(2) does not apply to personal-use property Income Tax Act- Section 248- Subsection 248(1)- Property where Reg. 1102(2) does not apply, land and building are a single property generating a single gain ...
News of Note post
Summary of Singapore Telecom Australia Investments Pty Ltd v Commissioner of Taxation [2024] FCAFC 29 under Treaties – Income Tax Conventions – Art. 9. ...
News of Note post
Summary of Revenue & Customs v Burlington Loan Management DAC [2024] UKUT 152 under Treaties – Income Tax Conventions – Art. 12. ...
News of Note post
Profit- Patents and Know-How the consequences of a sale of IP by a partnership for the benefit of a university and its researchers might be addressed in a ruling 2000-11-10 25 October 2000 External T.I. 2000-0017065 F- CONVENTION DE RETRAITE ET ASSURANCE Income Tax Act- Section 207.6- Subsection 207.6(2) no Pt. ...
Folio
S5-F1-C1 - Determining an Individual’s Residence Status
It is the permanence of the home, rather than its size or the nature of ownership or tenancy, that is of relevance. 1.47 For further guidance on the application of the permanent home test, the Courts have referred to the commentary on paragraph 2 of the Article 4 of the Organization for Economic Cooperation and Development Model Tax Convention on Income and on Capital. ... Accordingly, the determination of residency for the purposes of a tax treaty remains a question of fact, and each case should be decided on its own facts with an eye to the intention of the parties of the particular convention and the purpose of international tax treaties. ... To obtain more information, please refer to the current version of Information Circular IC 71-17R5, Guidance on Competent Authority Assistance Under Canada's Tax Conventions. ...
Administrative Policy summary
GST/HST Memorandum 3.3 "Place of Supply" April 2000 -- summary under Paragraph 142(1)(a)
Contract governed by the Convention 11. In those cases where the contract between the parties is governed by the United Nations Convention on Contracts for the International Sale of Goods (Convention), the place where the tangible personal property is delivered or made available will have to be determined in accordance with the rules relating to delivery contained in the Convention rather than in accordance with the domestic law of any province. ...
News of Note post
Topic Descriptor 3 December 2019 CTF Roundtable Q. 1, 2019-0824551C6- Multilateral Instrument (“MLI”) Treaties- Multilateral Instrument- Article 7- Article 7(1) “TAP” Committee, similar to the GAAR Committee, to address PPT issues 3 December 2019 CTF Roundtable Q. 2, 2019-0824381C6- Foreign taxes paid Income Tax Act- Section 261- Subsection 261(2)- Paragraph 261(2)(b) translation of foreign taxes at same FX rate as that used for related income is acceptable Treaties- Income Tax Conventions- Article 24 US and UK Treaties do not eliminate FTC requirement that the taxes be paid Income Tax Act- Section 126- Subsection 126(1) taxpayers can translate under s. 126 foreign taxes at the exchange rate applied to the related income 3 December 2019 CTF Roundtable Q. 3, 2019-0824391C6- Safe Income Determination Time Income Tax Act- Section 55- Subsection 55(5)- Paragraph 55(5)(d)- SuParagraph 55(5)(d)(i) the TFSB of FA should be translated into Canadian dollars under s. 55(5)(d) at the safe income determination time 3 December 2019 CTF Roundtable Q. 4, 2019-0824521C6- 84.1(1)(a) v/s 129(1)(a) Income Tax Act- Section 129- Subsection 129(1) CRA confirms its recent volte-face that s. 84.1(1)(b) dividends can generate dividend refunds 3 December 2019 CTF Roundtable Q. 5, 2019-0824561C6- 212.1 Post-mortem Pipeline Transaction Income Tax Act- Section 212.1- Subsection 212.1(6)- Paragraph 212.1(6)(b) a pipeline transaction where there are non-resident beneficiaries currently generates Pt XIII tax 3 December 2019 CTF Roundtable Q. 6, 2019-0823581C6- 21 year planning, 107(5), and TCP Income Tax Act- 101-110- Section 107- Subsection 107(2) a s. 107(2) rollout of Cdn Realtyco shares (i.e., TCP) to a NR-owned corporate beneficiary is inherently abusive Income Tax Act- Section 245- Subsection 245(4) abuse of ss. 107(2) to rollout private Realtyco shares to NR-owned Cdn corporate beneficiary 3 December 2019 CTF Roundtable Q. 7, 2019-0824401C6- TOSI and Inherited Property Income Tax Act- Section 120.4- Subsection 120.4(1.1)- Paragraph 120.4(1.1)(b)- Subparagraph 120.4(1.1)(b)(ii) shares distributed out of an inter vivos trust on an active individual’s death were received as a consequence of death for s. 120.4(1.1)(b)(ii) purposes 3 December 2019 CTF Roundtable Q. 8, 2019-0824411C6- TOSI- Excluded Business Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Amount- Paragraph (e)- Subparagraph (e)(ii) income derived from a prior year’s sale of an excluded business is not excluded 3 December 2019 CTF Roundtable Q. 9, 2019-0824421C6- Excluded Amount-Non-related Business exception Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Amount- Paragraph (e)- Subparagraph (e)(i) a transitional services agreement with an arm’s length purchaser can engage the TOSI rules Income Tax Act- Section 120.4- Subsection 120.4(1)- Related Business- Paragraph (a)- Subparagraph (a)(ii) source individual status retained after arm's length sale if continued active involvement in business 3 December 2019 CTF Roundtable Q. 10, 2019-0824461C6- Earnout payments to non-residents Income Tax Act- Section 212- Subsection 212(1)- Paragraph 212(1)(d)- Subparagraph 212(1)(d)(v) reverse earnout payments generally are not subject to Pt XIII tax 3 December 2019 CTF Roundtable Q. 11, 2019-0824511C6- Common Reporting Standards Income Tax Act- Section 271- Subsection 271(1) Canada uploads common reporting standards (CRS) info onto its systems for full-spectrum compliance use 3 December 2019 CTF Roundtable Q. 12, 2019-0824531C6- Earnout and Cost Recovery Method Income Tax Act- Section 12- Subsection 12(1)- Paragraph 12(1)(g) cost-recovery method earnout can be based on the earnings of a lower-tier corporation 3 December 2019 CTF Roundtable Q. 13, 2019-0824491C6- Triangular Amalgamation Income Tax Act- Section 245- Subsection 245(4) GAAR may apply to the use of a “Midco” to step up the tax basis of a target investment on a triangular amalgamation Income Tax Act- Section 87- Subsection 87(9)- Paragraph 87(9)(a.4) use of a “Midco” on triangular amalgamation “technically” avoids ss. 87(9)(a.4) and (c) limitation 3 December 2019 CTF Roundtable Q. 14, 2019-0824481C6- Replacement Property Rules Income Tax Act- Section 44- Subsection 44(5) a replacement property can be acquired before disposing of the former property Income Tax Act- Section 13- Subsection 13(4.1) property acquired in advance for expansion purposes can qualify 3 December 2019 CTF Roundtable Q. 15, 2019-0824501C6- Subsection 104(13.4) and LCBs Income Tax Act- 101-110- Section 104- Subsection 104(13.4)- Paragraph 104(13.4)(c)- Subparagraph 104(13.4)(c)(i) there can be no interest ultimately payable to the extent that a life interest trust realizes a capital loss in the stub period following death 3 December 2019 CTF Roundtable Q. 16, 2019-0824471C6- Eligible Dividend Designation Income Tax Act- Section 89- Subsection 89(14) where all shareholders of a private corporation are directors, an eligible dividend designation can be done through the dividend declaration ...
News of Note post
Topic Descriptor 26 November 2020 STEP Roundtable Q. 1, 2020-0839931C6- Executor's Year of a GRE Income Tax Act- 101-110- Section 104- Subsection 104(13.3) scope of application of s. 104(13.3) Income Tax Act- 101-110- Section 104- Subsection 104(6) elaboration of executor's year policy Income Tax Act- 101-110- Section 104- Subsection 104(23) CRA executor’s year policy is relevant only where the executor’s year extends beyond the GRE’s taxation year 26 November 2020 STEP Roundtable Q. 2, 2020-0840001C6- Subsection 104(13.4) and LCBs Income Tax Act- Section 161- Subsection 161(1) s. 104(13.4)(c) extension of balance-due date for terminal stub year of alter ego/joint spousal trust can permit capital loss in subsequent stub year to eliminate terminal year interest Income Tax Act- 101-110- Section 104- Subsection 104(13.4)- Paragraph 104(13.4)(c) a capital loss in the tax year following the death of an alter ego trust’s settlor can eliminate interest on the terminal T3 return’s 104(4)(a) gain 26 November 2020 STEP Roundtable Q. 3, 2020-0839881C6- Distribution of taxable capital gain Income Tax Act- 101-110- Section 104- Subsection 104(21) only the taxable portion of a capital gain need be distributed for s. 104(21) purposes 26 November 2020 STEP Roundtable Q. 4, 2020-0838001C6- Foreign Tax Credit Income Tax Act- Section 126- Subsection 126(1) UK source of gain re-sourced to Australia for s. 126 purposes under Australia-Canada Treaty sourcing rule Treaties- Income Tax Conventions- Article 24 a capital gain’s geographic source for Canadian FTC purposes was re-sourced to Australia under the Treaty-source rule 26 November 2020 STEP Roundtable Q. 5, 2020-0847181C6- Subsections 40(3.61) and 164(6) Income Tax Act- Section 164- Subsection 164(6)- Paragraph 164(6)(a) s. 164(6)(a) applied before s. 40(3.61) so as to avoid iterative grind of s. 164(6) carryback amount Income Tax Act- Section 40- Subsection 40(3.61) ss. 40(3.61) and (3.6), and 164(6), not applied iteratively to eliminate a s. 164(6) loss carryback where the estate also realized a small capital gain 26 November 2020 STEP Roundtable Q. 6, 2020-0839991C6- Eligible offset Income Tax Act- 101-110- Section 107- Subsection 107(2)- Paragraph 107(2)(c) generation of a loss to a capital beneficiary attributable to an eligible offset amount Income Tax Act- 101-110- Section 107- Subsection 107(1)- Paragraph 107(1)(a) illustration of s. 107(1)(a) application to avoid capital gain but not necessarily a capital loss 26 November 2020 STEP Roundtable Q. 7, 2020-0837611C6- TOSI and Rental Property Income Tax Act- Section 120.4- Subsection 120.4(1)- Split Income TOSI does not apply to rental properties held by individual co-owners 26 November 2020 STEP Roundtable Q. 8, 2020-0837621C6- TOSI and Donations Income Tax Act- Section 120.4- Subsection 120.4(3) charitable credits do not reduce an individual’s TOSI 26 November 2020 STEP Roundtable Q. 9, 2020-0837631C6- TOSI- Excluded Business Income Tax Act- Section 120.4- Subsection 120.4(1.1)- Paragraph 120.4(1.1)(a) hours worked for multiple corporations cannot be aggregated for purposes of the 20-hour test Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Business a specified individual splitting full-time work amongst multiple corporations might meet the excluded business activity test on less than 4 hours per week per corporation 26 November 2020 STEP Roundtable Q. 10, 2020-0837641C6- TOSI- Excluded Business Income Tax Act- Section 120.4- Subsection 120.4(1)- Split Income investing carried on with the proceeds of sale of a business in which the spousal shareholders had been engaged full time generally would generate TOSI on resulting dividends Income Tax Act- Section 120.4- Subsection 120.4(1)- Excluded Business questioned availability of excluded business exception where investing activity 26 November 2020 STEP Roundtable Q. 11, 2020-0839891C6- Subsection 104(19) Income Tax Act- 101-110- Section 104- Subsection 104(19) dividend subject to Pt IV tax because payer and corporate beneficiary no longer connected at December 31 effective date of all s. 104(19) designations Income Tax Act- Section 186- Subsection 186(1)- Paragraph 186(1)(a) Pt IV tax exemption no longer available because corporate beneficiary was no longer connected at December 31 effective time of s. 104(19) designation Income Tax Act- Section 249- Subsection 249(1)- Paragraph 249(1)(c) individual has a calendar year, even in terminal year Income Tax Act- 101-110- Section 104- Subsection 104(13) designated dividend included in individual’s terminal return which has a December 31 year end 26 November 2020 STEP Roundtable Q. 12, 2020-0839981C6- 21 year planning, 107(5) and TCP Income Tax Act- Section 245- Subsection 245(4) s. 107(2) rollout by Canadian discretionary trust to a NR-owned Canadian corporate beneficiary appears abusive Income Tax Act- 101-110- Section 107- Subsection 107(5) distributions by a Canadian discretionary trust to a NR-owned Canadian corporate beneficiary of TCP not carved-out in s. 107(5) appear abusive 26 November 2020 STEP Roundtable Q. 13, 2020-0847201C6- GRE & section 216 election Income Tax Act- Section 248- Subsection 248(1)- Graduated Rate Estate non-resident estate can be GRE and file s. 216 returns Income Tax Act- Section 216- Subsection 216(1) a non-resident estate (using GRE graduated rates), then its residuary beneficiaries, could file under s. 216 respecting a Canadian rental property Income Tax Act- 101-110- Section 107- Subsection 107(2) s. 107(2) applicable to distribution by NR estate of Canadian rental property NR residuary beneficiaries 26 November 2020 STEP Roundtable Q. 14, 2020-0839961C6- Adjusted Aggregate Investment Income Income Tax Act- Section 125- Subsection 125(5.2) s. 125(5.2)(c) references a reason of reducing the associated group’s AAII for purposes of the passive income reduction rule in s. 125(5.1)(b) 26 November 2020 STEP Roundtable Q. 15, 2020-0839951C6- Subsection 164(6) limitations Income Tax Act- Section 164- Subsection 164(6) no CRA discretion to extend the one-year deadline under s. 164(6) for sustaining the post-death capital loss 26 November 2020 STEP Roundtable Q. 16, 2020-0839921C6- Offshore Tax Informant Update Income Tax Act- Section 152- Subsection 152(1) OTIP stats at end of 2019 26 November 2020 STEP Roundtable Q. 17, 2020-0837001C6- Trust Pass-Through of CGE Income Tax Act- 101-110- Section 104- Subsection 104(21.2) the QSBC share character of capital gains can be flowed out in a 2-tier trust structure Income Tax Act- 101-110- Section 108- Subsection 108(1)- Eligible Taxable Capital Gains "annual gains limit" takes into account lower tier trust's ss. 104(21) and (21.2) designations ...
News of Note post
Bundle Date Translated severed letter Summaries under Summary descriptor 2007-06-15 29 May 2007 Internal T.I. 2006-0217401I7 F- 110(1)d): Moment de la conclusion de la convention 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 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) 2007-06-08 30 May 2007 External T.I. 2006-0218101E5 F- Interaction entre 125.4(1) et 256(1.2)c) Income Tax Act- Section 256- Subsection 256(1.2)- Paragraph 256(1.2)(c) s. 256(1.2)(c) does not affect the determination of de facto control Income Tax Regulations- Regulation 1106- Subsection 1106(2) s. 256(1.2)(c) does not inform the definition of prescribed taxable Canadian corporation 28 May 2007 External T.I. 2007-0219801E5 F- Paiement de soutien aux enfants Income Tax Act- Section 74.1- Subsection 74.1(2) child assistance payment is transferred to a minor child is subject to s. 74.1(2) attribution 4 June 2007 Internal T.I. 2007-0229251I7 F- Montants reçus pour aide personnelle à domicile Income Tax Act- Section 3- Paragraph 3(a)- Business Source/Reasonable Expectation of Profit no income to parental caregiver in situations similar to Pellerin 9 May 2007 External T.I. 2006-0189931E5 F- Renonciation à une fiducie par un conjoint Income Tax Act- Section 69- Subsection 69(1)- Paragraph 69(1)(b) renunciation of interest in spousal trust not a disposition to the family beneficiaries Income Tax Act- Section 248- Subsection 248(1)- Disposition extinguishment of trust interests on their renunciation is a disposition of the renounced interest, but resulting variation of trust to accelerate distribution entitlements is not Income Tax Act- 101-110- Section 104- Subsection 104(4)- Paragraph 104(4)(a) variation of spousal trust, following renunciation by spouse, to accelerate distribution entitlement of residuary beneficiaries would not engage s. 104(4) until distribution Income Tax Act- Section 70- Subsection 70(6) variation of spousal trust, following renunciation by spouse, to accelerate distribution entitlement of residuary beneficiaries would not deny s. 70(6) rollover 5 June 2007 Internal T.I. 2007-0237291I7 F- Disposition d'une police d'assurance-vie Income Tax Act- Section 148- Subsection 148(7) s. 148(7) applicable to gift of policies by partners to a limited partnership 30 May 2007 External T.I. 2006-0200271E5 F- Bien agricole et résidence principale Income Tax Act- Section 40- Subsection 40(4) s. 45(3) election did not extend time that farm house was a principal residence, once the occupant went to nursing home Income Tax Act- Section 45- Subsection 45(3) no change of use when occupant of residence moved into a nursing home Income Tax Act- 101-110- Section 110.6- Subsection 110.6(1.3)- Paragraph 110.6(1.3)(c) principally references over 50% of use 11 May 2007 External T.I. 2006-0214351E5 F- Transfert d'un droit de propriété Income Tax Act- Section 40- Subsection 40(2)- Paragraph 40(2)(b) where duplex co-owned by husband and wife, the one unit occupied by them can be designated as a principal residence – but this changes when daughter moves into the 2nd unit Income Tax Act- Section 248- Subsection 248(1)- Property an occupied unit in a co-owned duplex can be designated as a principal residence 2007-06-01 24 May 2007 External T.I. 2006-0209081E5 F- Withholding Source Deductions- Trustee Fees Income Tax Act- Section 248- Subsection 248(1)- Office fees if trustees of REIT based partly on the number of meetings they attended were from an office Income Tax Regulations- Regulation 100- Subsection 100(1)- Remuneration fees received by REIT trustees including per-meeting fees were salary and wages subject to source deductions and T4 reporting 2007-05-25 22 May 2007 External T.I. 2007-0228611E5 F- Crédit pour la création d'emplois pour apprentis Income Tax Act- Section 127- Subsection 127(9)- Eligible Apprentice year means 12 months/”contract” for apprentice can be the collective agreement ...