(q)-(vv)

Paragraph 20(1)(q) - Employer’s contributions to RPP or PRPP

Administrative Policy

14 March 2017 External T.I. 2016-0627311E5 F - Deduction of contribution to an IPP or RCA

CRA considered a plan that provides supplementary benefits to in individual pension plan to be a salary deferral arrangement rather than a...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangement a mooted RCA providing supplementary pension benefits must be similar to the IPP which it supplements 271

18 November 2014 External T.I. 2012-0457981E5 - Restorative payment to registered plan

Employer accidentally missed contributing, to a group RRSP or defined contribution pension plan, the Employer's portion on behalf of an employee...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 204.1 - Subsection 204.1(2.1) employer restorative payment to RRSP or RPP to compensate for tort 83
Tax Topics - Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) employer restorative payment to RRSP or RPP to compensate for tort 115
Tax Topics - Income Tax Act - Section 60 - Paragraph 60(i) employer restorative payment to RRSP or RPP to compensate for tort 159

IC 72-13R8 "Employees' Pension Plans"

Paragraph 20(1)(r) - Employer’s contributions under retirement compensation arrangement

Administrative Policy

2018 Ruling 2017-0720901R3 - Use of a Surety Bond by RCA

A Company determined that, rather than securing a non-registered supplemental employee retirement plan (“SERP”) for its senior employees using...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 207.5 - Subsection 207.5(1) - Refundable Tax - Paragraph (a) use of surety bonds rather than LCs to secure SERP benefits 530

4 January 2006 Internal T.I. 2005-0115801I7 F - Convention de retraite

A closely-held corporation that was dividending out all the profits of its business also established a purported retirement compensation...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Retirement Compensation Arrangement arrangement was not an RCA because the benefits were not reasonable 110
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) 122
Tax Topics - Income Tax Act - Section 67 Petro-Canada applied re determining reasonableness 264
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 108

24 January 2005 External T.I. 2004-0099471E5 F - Convention de retraite pour un actionnaire-employé

Are contributions by a corporation to an RCA deductible in computing its income where the contributions relate to services rendered by a...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 67 81 Roundtable position on shareholder-manager compensation also applies to RCA contributions 109
Tax Topics - Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(x) Part XI.3 tax and s. 56(1)(x) income inclusion apply even where RCA contribution is partially or fully non-deductible 146
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangement a significant reduction in bonus or salary matched by an RCA contribution likely suggests it instead is an SDA 244

28 November 2003 External T.I. 2003-0046025 F - CONVENTION DE RETRAITE DEDUCTIONS

CRA indicated that the deduction under s. 20(1)(r) could be limited by s. 67 and that there was nothing in s. 152(3.1) that would restrict its...

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Articles

Jim Kahane, Uros Karadzic, Simon Létourneau-Laroche, "A Fresh Look at Retirement Compensation Arrangement: A Flexible Vehicle for Retirement Planning", Canadian Tax Journal (2013) 61:2, 479 – 502.

Services requirement (pp. 486-7)

Consistent with contributions to other pension arrangements, employer contributions to an RCA are deductible in...

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Paragraph 20(1)(v)

Finance

3 September 2019 Comfort Letter - Deductibility of Mining Taxes

The Mining Association of Canada suggested that it was inappropriate for taxpayers. who had been reassessed additional mining taxes for years (in...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) opening up statute-barred years for additional s. 20(1)(v) deductions 101

Paragraph 20(1)(v.1)

Administrative Policy

8 June 1994 External T.I. 9414625 - MINING TAILINGS

Mine tailings may be ore from a mineral resource such that income from processing tailings may qualify for the resource allowance.

Paragraph 20(1)(z) - Cancellation of lease

See Also

Vauban Productions v. The Queen, 75 DTC 5371, [1975] CTC 511 (FCTD), aff'd 79 DTC 5186, [1979] CTC 262 (FCA)

Under a lease, the lessor retains residuary rights to the leased property. It was found that under the circumstances of the case, where there had...

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Administrative Policy

11 October 2019 APFF Roundtable Q. 2, 2019-0812611C6 F - Résiliation d'un bail - Lease cancellation

A tenant had been annually renewing a lease of a condo since the time the condo was first leased in July 2013. The condo was sold in February...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(b) lease termination payment received by tenant was referable to complete period of holding of (annually renewed) leasehold interest 245
Tax Topics - Income Tax Act - Section 54 - Principal Residence lease termination payment received by tenant was eligible for principal residence exemption 116
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) s. 20(1)-preamble source rule applied 148

30 May 1991 Ruling 3-910967

"In a situation where a lessee has constructed a building on land leased under a long-term lease and the lease provides that the building becomes...

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Articles

Atlas, "Income Tax Issues in Real Estate Leasing", under "Lease Cancellation", 1989 Corporate Management Tax Conference, p. 3:27

It is not clear whether s. 20(1)(z) is applicable where the lessor has only a leasehold interest, or where the lease-cancellation payment is made...

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Paragraph 20(1)(z.1) - Idem [Cancellation of lease]

Administrative Policy

29 May 1990 T.I. S-9748 (October 1990 Access Letter, ¶1456)

Where the taxpayer makes a lease cancellation payment to tenants in order to obtain vacant possession of a building which is to be demolished so...

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22 May 1990 T.I. (October 1990 Access Letter, ¶1457)

The restrictions in Regulation 1100(11) are not applicable to the deduction of a terminal loss.

Paragraph 20(1)(aa) - Landscaping of grounds

Cases

Toronto College Park Ltd. v. The Queen, 94 DTC 6172, [1994] 1 CTC 194 (FCTD)

The taxpayer, which owned a new commercial building, paid for the landscaping of a public park adjoining the building. Simpson J. first noted (p....

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Words and Phrases
landscaping

Qualico Developments Ltd. v. The Queen, 84 DTC 6119, [1984] CTC 122, 84 DTC 6126 (FCA)

Thurlow CJ found that buildings (held in inventory) whose surrounding grounds were improved by landscaping were "used ... in the course of a...

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Words and Phrases
use stock in trade

See Also

Forest Products Terminal Corp. Ltd. v. Minister of Municipal Affairs of the Province of New Brunswick (1986), * A.P.R. (NBQB)

A consortium of private stevedoring companies was held to operate a forest products terminal under such direction of the National Harbour Board as...

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Administrative Policy

22 November 1991 T.I. (Tax Window, No. 13, p. 16, ¶1609)

In order for an amount paid for landscaping around a structure to be deductible, the payor must be the owner of the property at the time the...

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Articles

Atlas, "Income Tax Issues in Real Estate Leasing"

"it is doubtful that a taxpayer who has only a leasehold interest in a building would qualify for a deduction under this provision."

Paragraph 20(1)(bb) - Fees paid to investment counsel

Cases

Canada v. Rio Tinto Alcan Inc., 2018 FCA 124

The taxpayer (“Alcan”), a Canadian public company listed on the TSX and NYSE and in Europe, incurred fees (mostly of investment dealers, law...

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Words and Phrases
commission specific shares
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Oversight or Investment Management dealer and professional fees incurred by a public board in determining to make a bid, as contrasted to implementation, were currently deductible 348
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(g) takeover bid circular was not a financial report 175

See Also

Rio Tinto Alcan Inc. v. The Queen, 2016 TCC 172, aff'd 2018 FCA 124

The taxpayer, a Canadian public company listed on the TSX and NYSE and in Europe, incurred fees (mostly of investment dealers, law firms and a...

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Words and Phrases
commission
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees investment dealer fees incurred respecting the advisability of making hostile takeover were fully deductible under s. 9 417
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(cc) legal fees incurred in securing regulatory approval for a hostile bid related to the bidder's business of earning income from shares and interaffiliate sales 182
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(g) takeover bid circular costs did not qualify 102
Tax Topics - Income Tax Act - Section 14 - Subsection 14(5) - Eligible Capital Expenditure fees incurred in order to acquire shares were excluded/butterfly expenses excluded as taxpayer was not in the business of implementing corporate reorganizations 365
Tax Topics - Income Tax Act - Section 169 - Subsection 169(2.1) raising general question of deductibility of fees and listing s. 20(1)(e) did not satisfy s. 165(1.11) 246
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e) failure to advance evidence showing allocation of fees to share consideration 139
Tax Topics - Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(i) expenses incurred in butterfly spin-off recognized as disposition expenses 63
Tax Topics - Statutory Interpretation - French and English Version finding common meaning of 2 versions of s. 20(1)(bb) 108

Wickham Estate v. The Queen, 2015 DTC 10125 [at 102], 2014 TCC 352 (Informal Procedure)

In 2005, the BC Supreme Court appointed a retired investment manager ("Sanders"), as committee of Ms. Wickham, who was mentally infirm. Sanders...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Oversight or Investment Management pro rata denial based on portfolio portion invested in RRIF 71
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(u) pro rata denial based on portfolio portion invested in RRIF 46

Khushroo F. Vatcha v. Minister of National Revenue, 91 DTC 653, [1991] 1 CTC 2413 (TCC)

In finding subscription fees for various investment publications to be non-deductible, Dussault TCJ. stated (p. 655):

"General subscription fees...

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Re Magna Training Centre (1987), 62 OR (2d) 540 (S.C.O.)

A training centre used by a manufacturing company for its workers was therefore "used" as part of its manufacturing business.

Charron v. MNR, 87 DTC 98, [1987] 1 CTC 2135 (TCC)

Taxpayers who each purchased an undivided interest in a MURB and were charged a fee by the syndicator of the MURB for its services in finding,...

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Bardsley Trust v. MNR, 82 DTC 1659, [1982] CTC 2642 (T.R.B.), rev'd on consent [see 83 C.T.J. 1013]

Two individual trustees of a trust had developed extensive expertise in the financial field as shareholders or employees of private companies but...

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No. 579 v. MNR, 58 DTC 734, 21 Tax ABC 21

Fees paid by a trust to two individual trustees (a solicitor and the vice-chairman of one of the principal American banks) were not deductible by...

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Administrative Policy

7 October 2021 APFF Financial Strategies and Instruments Roundtable Q. 1, 2021-0899661C6 - Application of paragraph 20(1)(bb)

(a)

Regarding what is a commission, CRA noted that Rio Tinto had stated that this term refers to “an amount calculated on a percentage basis,...

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25 August 2014 External T.I. 2014-0526891E5 - Investment counselling fees for RDSP

In indicating that investment counselling fees paid in respect of securities of an RDSP are not deductible if they are paid by the RDSP holder,...

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6 May 2014 CALU Roundtable, 2014-0523321C6 - 2014 CALU Conference

After quoting authorities on the meaning of "security," including a statement in Canadian & Foreign Securities Co. v. M.N.R., [1972] C.T.C. 391 at...

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Words and Phrases
security

14 February 2011 External T.I. 2010-0381561E5 - Deductibility of Trustee Fee

Where the trustee pays, on behalf of the trust, fees for advice as to the advisability of purchasing or selling securities in respect of the...

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23 March 2007 External T.I. 2006-0207071E5 - Investment Counsel Fees

A performance fee break (based on percentage increases in the fair market value of the portfolio that was being managed) might be deductible,...

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18 July 2006 Internal T.I. 2006-0170871I7 - Investment banker fees

A bidder, who did not yet own all the shares of a particular corporation and obtained the services of an investment banker on a commission basis...

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26 May 2003 Internal T.I. 2003-0002297 F - Fonds commun de placement-Dépenses gén.

Regarding expenses incurred by a mutual fund trust (or mutual fund corporation) in the course of a process of evaluating the acquisition of...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) allocation of expenses permitted to maximize dividend tax credits of MFT beneficiaries 187

6 February 2002 External T.I. 2001-0105605 - Tax Treatment of Transaction Costs

S.20(1)(bb) is applicable to taxpayer seeking to buy or sell, or obtain services, and not to a corporation whose issued and outstanding shares...

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8 January 1997 Internal T.I. 9634777 - PUBLIC TRUSTEE FEES

"Since the duties of the Public Trustee appear to exclusively involve the handling of a taxpayer's assets rather than the management of shares or...

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11 July 1995 External T.I. 9517465 - FEES PAID TO INVESTMENT COUNSEL

"The preamble of paragraph 20(1)(bb) of the Act specifically excludes amounts paid as commissions. Accordingly... a transaction fee related to a...

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22 April 1992 External T.I. 5-921033

Because both legal and beneficial ownership of securities for which advice or services have been provided, must belong to the taxpayer claiming...

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10 January 1992 Memorandum (Tax Window, No. 17, p. 17, ¶1773)

An interest in a building is not a "security".

6 November and 18 December 1990 T.I. (Tax Window, Prelim. No. 2, p. 18, ¶1048)

Where a client of a brokerage house is charged an all-inclusive monthly or annual amount, it is incumbent upon the client to determine the amount...

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87 C.R. - Q.13

There is no conflict between IT-238R2, paragraph 7 and IT-124R5, paragraph 2.

81 C.R. - Q.22

Although it is not RC's policy that fees paid to an individual can never be deducted under s. 20(1)(bb), the provision is applied strictly.

IT-238R2 "Fees Paid to Investment Counsel"

Paragraph 20(1)(cc) - Expenses of representation

See Also

Rio Tinto Alcan Inc. v. The Queen, 2016 TCC 172, aff'd 2018 FCA 124

The taxpayer, a Canadian public company listed on the TSX and NYSE and in Europe, incurred substantial legal fees in connection with its decision...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees investment dealer fees incurred respecting the advisability of making hostile takeover were fully deductible under s. 9 417
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) investment dealer fees re advisability of making hostile takeover were fully deductible 529
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(g) takeover bid circular costs did not qualify 102
Tax Topics - Income Tax Act - Section 14 - Subsection 14(5) - Eligible Capital Expenditure fees incurred in order to acquire shares were excluded/butterfly expenses excluded as taxpayer was not in the business of implementing corporate reorganizations 365
Tax Topics - Income Tax Act - Section 169 - Subsection 169(2.1) raising general question of deductibility of fees and listing s. 20(1)(e) did not satisfy s. 165(1.11) 246
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e) failure to advance evidence showing allocation of fees to share consideration 139
Tax Topics - Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(i) expenses incurred in butterfly spin-off recognized as disposition expenses 63
Tax Topics - Statutory Interpretation - French and English Version finding common meaning of 2 versions of s. 20(1)(bb) 108

Administrative Policy

22 May 2014 Ponoka Liason Meeting Roundtable, 2014-0528451C6 - Cost of Making Voluntary Disclosure

This was a follow-up query on 2012-0437831E5, indicating that voluntary disclosure costs were not deductible, as they were neither incurred to...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees costs of voluntary disclosure incurred by business 80
Tax Topics - Income Tax Act - Section 60 - Paragraph 60(o) costs of voluntary disclosure incurred by business 80

20 June 2007 Internal T.I. 2007-0233551I7 - Deductibility of Transaction Costs

Auditor fees incurred in connection with a proposed conversion of a corporation into an income fund which did not proceed were not deductible...

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21 January 2016 CPA Personal Income Tax Roundtable Q. 7, 2016-0625731C6 F - Fees related to a voluntary disclosure

After noting that “CRA considers that expenses of making a voluntary disclosure…would generally not be made or incurred by the taxpayer for...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 60 - Paragraph 60(o) professional fees incurred after a voluntary disclosure is accepted commence to be deductible 151

30 July 2003 Internal T.I. 2003-0024037 - ACB OF LAND & BUILDING

Respecting the determination of ACB of where a medical doctor acquired land and constructed a building that is used to earn business income, CRA...

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12 May 2000 Internal T.I. 2000-0001737 - EXPENSES OF REPRESENTATION

In response to an inquiry respecting the deductibility under s. 20(1)(cc) of legal costs incurred by farmers, in connection with making...

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16 November 1994 Internal T.I. 9414677 - FILM RIGHTS

Representation costs respecting the obtaining of a five-year CRTC licence would represent part of the capital cost of acquiring such an asset and...

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29 October 1991 Memorandum (Tax Window, No. 12, p. 13, ¶1557)

The costs incurred in obtaining an advance income tax ruling which are deductible include legal and accounting fees incurred to prepare the ruling...

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13 June 1991 T.I. (Tax Window, No. 4, p. 24, ¶1307)

Expenses incurred by a taxpayer in making representations to the Copyright Board will be deductible provided the representations relate to a...

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IT-99R4 "Legal and Accounting Fees"

IT-477 "Capital Cost Allowance - Patents, Franchises, Concessions and Licences"

Re: Deductibility of representation expenses incurred in order to obtain a licence, permit, franchise or patent.

Paragraph 20(1)(dd) - Investigation of site

Cases

Brooke Bond Foods Ltd. v. The Queen, 84 DTC 6144, [1984] CTC 115 (FCTD)

Sums expended for the preparation of plans and specifications for a proposed building to be erected on a site whose suitability for a building had...

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Queen & Metcalfe Carpark Ltd. v. MNR, 74 DTC 6007, [1973] CTC 810 (FCTD), aff'd [1976] CTC xvi (FCA)

A company in the business of acquiring various properties and leasing them out for rental use was held to be earning business income rather than...

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See Also

Parker Brothers Textile Mills Limited v. The Queen, 2007 DTC 610, 2007 TCC 74

A fee which was found, on the evidence, to have been paid by the taxpayer to a consultant for investigating possible sites for a relocated...

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Administrative Policy

86 C.R. - Q. 28

Investigation expenditures may not be deductible after a decision is made to acquire the asset or abandon the project.

IT-350R ARCHIVED - Investigation of Site 6 June 1977

1. The deduction authorized by paragraph 20(1)(dd) relates to certain expenditures made by a taxpayer in investigating a building site, which...

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Paragraph 20(1)(ee) - Utilities service connection

Cases

The Queen v. Guaranteed Homes Ltd., 78 DTC 6510, [1978] CTC 636 (FCTD)

The "place of business" of a company in the business of constructing houses for resale did not include each of the 77 lots being developed by it...

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Locations of other summaries Wordcount
Tax Topics - Statutory Interpretation - Comparison of Provisions 55

See Also

Richcraft Homes Ltd. v. The Queen, 95 DTC 657, [1995] 2 CTC 2714 (TCC)

Rip TCJ. followed the Guaranteed Homes case in finding that the costs of installing sanitary and storm sewers in a housing subdivision development...

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Paragraph 20(1)(gg)

Cases

Bastion Management Ltd. v. The Queen, 95 DTC 5238, [1995] 2 CTC 252 (FCA)

The taxpayer, which was a trader in commodity futures, purchased 15,000 ounces of gold and 500,000 ounces of silver shortly before its year-end...

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Locations of other summaries Wordcount
Tax Topics - Statutory Interpretation - Purpose 86

Gay Lea Foods Co-operative Ltd. v. The Queen, 94 DTC 6285, [1994] 2 CTC 245 (FCTD)

The taxpayer participated in a price support program created by the Canadian Dairy Commission under which the Commission would purchase butter...

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Plaza Pontiac Buick Ltd. v. The Queen, 94 DTC 6058, [1994] 1 CTC 27 (FCA)

An inventory allowance was not available to a car dealership in respect of leased automobiles notwithstanding the option of the taxpayer (but not...

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GSW Appliances Ltd. v. The Queen, 93 DTC 5502 (FCTD)

Inventory which the taxpayer conveyed, effective the beginning of its 1977 taxation year, to its parent pursuant to the winding-up of the taxpayer...

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The Queen v. Mattabi Mines Ltd., 89 DTC 5357, [1989] 2 CTC 94 (FCTD), aff'd 92 DTC 6252 (FCA)

After making particular reference to the meaning of "incorporated into" and "processed into," Teitelbaum J. accepted the submission of the Crown...

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Brault-Clement Inc. v. The Queen, 86 DTC 6277, [1986] 2 CTC 1 (FCTD), aff'd 92 DTC 6010 (FCA)

The taxpayer was found to be the mandatary of the Quebec Minister of Revenue, and it followed by agreement of counsel that monthly remittances of...

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Brault-Clement Inc. v. The Queen, 86 DTC 6277, [1986] 2 CTC 1 (FCTD), aff'd 92 DTC 6010 (FCA)

The taxpayer was found to be the mandatary of the Quebec Minister of Revenue, and it followed by agreement of counsel that monthly remittances of...

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The Queen v. Boehringer Ingelheim (Canada) Ltd., 85 DTC 5443, [1985] 2 CTC 211 (FCTD), aff'd 87 DTC 5442, [1987] 2 CTC 245 (FCA)

Inventories which were physically transferred from one company ("Ciba-Geigy") to the defendant in stages during the months of December 1976 and...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 10 - Subsection 10(2) 46

Saskatchewan Wheat Pool v. The Queen, 85 DTC 5034, [1985] 1 CTC 31 (FCA)

Although Canadian Wheat Board grains acquired by the Saskatchewan Wheat Pool for later shipment to the Board's terminal elevators arguably became...

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See Also

Fraser v. London Sports Car Centre Ltd., [1984] BTC 409 (HC), aff'd [1985] BTC 547 (C.A.)

Sports cars that were supplied to a motor vehicle dealer subject to reservation of title by the supplier, were brought into account in computing...

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Words and Phrases
trading stock

Paragraph 20(1)(hh) - Repayments of inducements, etc.

Administrative Policy

7 October 2020 APFF Roundtable Q. 18, 2020-0862931C6 F - 12(1)(x) and CEBA

A corporation received a $40,000 loan under the Canada Emergency Business Account (“CEBA”) program in its taxation year ending December 31,...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) - Subparagraph 12(1)(x)(iv) bank lending under CEBA loan program is described in s. 12(1)(x)(i) and forgivable loan included on receipt 88
Tax Topics - Income Tax Act - Section 12 - Subsection 12(2.2) s. 12(2.2) can be applied to non-deductible expenses/consequences of CEBA loan not being forgiven 271

5 December 2002 Internal T.I. 2002-0155187 F - DEPENSES PERSONNELLES

A taxpayer incurred what it viewed as a currently deductible expense of $100,000 and paid GST and QST thereon of $7,000 and $8,000, for which it...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(16) ITRs, like ITCs, treated as government assistance, so that included under s. 12(1)(x) unless s. 12(2.2) election made 200

1993 A.P.F.F. Round Table, Q.15

There is no repayment for the purposes of s. 20(1)(hh) when shares are converted to a debt security and the parties are in essentially the same...

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Payment & Receipt 65

Paragraph 20(1)(ss)

Administrative Policy

2003 Ruling 2003-0050303 - AT-RISK BENEFIT AND ENVIRONMENTAL TRUST

Background

Xco, whose principal business is mineral exploration and mining, and which owns the “Mine,” is wholly-owned by a listed public...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 211.6 - Subsection 211.6(1) - Qualifying Environmental Trust reclamation trust for re-opened mine partly funded by investor partnership 167

Paragraph 20(1)(vv)

See Also

Industries Perron Inc. (anciennement 3654419 Canada Inc.) v. The Queen, 2012 DTC 1072 [at 2836], 2011 TCC 433, aff'd 2013 FCA 176

The International Trade Commission and the US Department of Commerce made preliminary anti-dumping rulings in 2001 against the taxpayer respecting...

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Administrative Policy

20 October 2004 Internal T.I. 2004-0086501I7 F - Droits compensateurs

In 2001, the U.S. government began imposing countervailing and anti-dumping duties ("CADD") on the export of softwood lumber products from Canada,...

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Words and Phrases
paid
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(e) obligation to repay suppliers for extra US countervailing duties charge made to them was contingent until a board decision reversed such duties 341

Paragraph 20(1)(ww)

Administrative Policy

20 June 2023 STEP Roundtable, Q.9

Although, where an individual is subject to the tax on split income (“TOSI”) under s. 120.4(2) for a particular year, and the amount of split...

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25 November 2021 CTF Roundtable Q. 2, 2021-0911831C6

An amount, which is included in the income of an individual (X) under s. 15(2) is also subject in the individual’s hands to the tax on split...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(j) where a s. 15(2) inclusion that was offset under s. 20(1)(ww) because it was subject to TOSI, there nonetheless can be a s. 20(1)(j) deduction when the loan is repaid 231