Section 104

Table of Contents

Subsection 104(1) - Reference to trust or estate

Cases

British Columbia Investment Management Corp. v. Canada (A. G.), 2018 BCCA 47, aff'd 2019 SCC 63

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Tax Topics - Other Legislation/Constitution - Constitution Act, 1867 - Section 125 imposition of GST on investment assets held by a provincial Crown agent would have been prohibited by its governmental immunity but for the reciprocal taxation agreement 483
Tax Topics - Excise Tax Act - Section 122 deeming services provided by B.C. Crown agent in managing assets held in trust trenched on B.C. crown immunity 237
Tax Topics - Excise Tax Act - Section 267.1 - Subsection 267.1(5) - Paragraph 267.1(5)(a) services of trustees of managing assets held in trust would not be supply in absence of s. 267.1(5)(a) 164
Tax Topics - Other Legislation/Constitution - Federal - Federal Courts Act - Section 19 enforcement of a reciprocal taxation agreement was possible pursuant to the Federal Courts Act 232

Canada v. Sommerer, 2012 DTC 5126 [at 7219], 2012 FCA 207

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Words and Phrases
revert
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(5) 84
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) does not apply to FMV purchases 236
Tax Topics - Treaties treaty applies to economic double taxation 356
Tax Topics - Treaties - Income Tax Conventions - Article 13 attributed gain not included 415

Fundy Settlement v. Canada, 2012 DTC 5063 [at 6881], 2012 SCC 14, [2012] 1 S.C.R. 520, aff'g sub nom St. Michael Trust Corp. v. The Queen, 2010 DTC 5189 [at 7361], 2010 FCA 309, aff'g sub nom Garron v. The Queen, 2009 DTC 1568, 2009 TCC 450

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 2 - Subsection 2(1) central management and control test for trust residence 262

Antle v. Canada, 2010 DTC 5172 [at 7304], 2010 FCA 280

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Tax Topics - General Concepts - Sham trust deed did not reflect the factual expectatons of the settler and trustee 223

See Also

Canada (Attorney General) v. British Columbia Investment Management Corp., 2019 SCC 63

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Locations of other summaries Wordcount
Tax Topics - Other Legislation/Constitution - Constitution Act, 1867 - Section 125 ETA taxes that would be borne by portfolio of which a Crown agent was legal owner would contravene s. 125 298
Tax Topics - Statutory Interpretation - Interpretation Act - Section 8.1 “trust” interpreted in accordance with its common law meaning 349
Tax Topics - Excise Tax Act - Section 122 s. 122 does not preclude imposition of collection duties 101

Milne Estate (Re), 2019 ONSC 579

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Words and Phrases
will

Moules Industriels (C.H.F.G.) Inc. v. The Queen, 2018 TCC 85

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 256 - Subsection 256(1.2) - Paragraph 256(1.2)(f) - Subparagraph 256(1.2)(f)(ii) a numerical cap on trustees’ discretion to allocate income or capital did not stop tainting under s. 256(1.2)(f)(ii) 245

Canada v. Cheema, 2018 FCA 45

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Tax Topics - Excise Tax Act - Section 254 - Subsection 254(2) - Paragraph 254(2)(b) third party who did not intend to occupy was liable at the purchase agreement time 355
Tax Topics - Excise Tax Act - Section 133 s. 133 deemed an acquisition of future home on co-purchaser's signing purchase agreement, notwithstanding that no beneficial interest received on closing 268
Tax Topics - Statutory Interpretation - Ordinary Meaning Court should not depart from usual interpretation principles in seeking a sensible result 128
Tax Topics - Statutory Interpretation - Ease of Administration interpretation that favours administrative efficiency is to be favoured 206
Tax Topics - Excise Tax Act - Regulations - New Harmonized Value-Added Tax System Regulations, No. 2 - Section 40 co-purchaser with no intended beneficial interest was required to satisfy ETA s. 254(2) rules 171

Barclays Wealth Trustees (Jersey) Limited v. Commissioners for Her Majesty's Revenue and Customs, [2017] EWCA Civ 1512

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Tax Topics - Statutory Interpretation - Interpretation/Definition Provisions trreat as real the inevitable incidents of the deemed fiction 219

Markou v. The Queen, 2016 TCC 137

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Words and Phrases
Quistclose trust
Locations of other summaries Wordcount
Tax Topics - Statutory Interpretation - Interpretation Act - Section 8.1 TCC has jurisdiction to determine existence of equitable remedy 96
Tax Topics - General Concepts - Payment & Receipt funds in leveraged donation scheme essentially advanced by lender directly to charity 108

Advocate Gen. for Scotland v. Murray Group Holdings Ltd., [2015] CSIH 77, [2015] BTC 36 (Ct. of Ses. (Inner House, 2nd)), aff'd sub nomine RFC 2012 Plc (formerly The Rangers Football Club Plc) v Advocate General for Scotland (Scotland) [2017] UKSC 45

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Tax Topics - Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) income derived from service is assessable even where agreed to be redirected to 3rd party 321
Tax Topics - General Concepts - Evidence Scottish Court of Session entitled to deal with questions of English law 292

Mariano v. The Queen, 2015 DTC 1209 [at 1331], 2015 TCC 244

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Tax Topics - General Concepts - Fair Market Value - Other courseware licences valued at modest initial cost, given relevant wholesale market and depressive effect of huge volumes purchased 303
Tax Topics - General Concepts - Ownership no acquisition of unascertained property 76
Tax Topics - General Concepts - Sham taxpayer involvement in deceit unnecessary 375
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2) delegation of power of appointment to promoter not authorized 238
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts no gift where no intent for impoverishment and where gifted property not yet identified 566
Tax Topics - Income Tax Act - Section 248 - Subsection 248(35) attempted use of initial gift to step-up ACB under s. 69(1)(c) 262

Al-Hossain v. The Queen, 2014 TCC 379

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 254 - Subsection 254(2) co-owner was not occupant and bare trust declaration was too late 282
Tax Topics - General Concepts - Effective Date bare trust declaration was too late 138

Sheila Holmes Spousal Trust v. Canada (Attorney General), 2013 ABQB 489

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Tax Topics - General Concepts - Rectification & Rescission superior court declines jurisdiction in tax dispute 192

Peragine v. The Queen, 2012 DTC 1287 [at 3887], 2012 TCC 348

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Lipson v. The Queen, 2012 DTC 1064 [at 2796], 2012 TCC 20

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Fourney v. The Queen, 2012 DTC 1019 [at 2575], 2011 TCC 520

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Tax Topics - General Concepts - Agency 191
Tax Topics - General Concepts - Corporate/Separate Personality 257
Tax Topics - General Concepts - Ownership presumption of resulting trust where property transfer for no consideration 257
Tax Topics - Income Tax Act - Section 163 - Subsection 163(2) line codes in electronic filings were incomprehensible to taxpayer 300
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition rebuttable presumption of resulting trust on transfer for no consideration 257

Canpar Developments Inc. v. The Queen, 2011 GSTC 118, 2011 TCC 353 (Informal Procedure)

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Tax Topics - Excise Tax Act - Section 285 224

De Mond v. The Queen, 99 DTC 893, Docket: 95-2216-IT-G (TCC)

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Administrative Policy

2018 Ruling 2017-0738041R3 - XXXXXXXXXX

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Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) collective investment vehicle treated as transparent for Pt XIII purposes 179

2017 Ruling 2015-0605161R3 - Fonds commun de placement (FCP) - Luxembourg

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Tax Topics - Income Tax Act - Section 96 Luxembourg investment mutual fund was a co-ownership arrangement 144

2016 Ruling 2015-0606141R3 - XXXXXXXXXX

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Tax Topics - Income Tax Act - Section 96 common contractual fund was fiscally transparent 129

12 July 2016 External T.I. 2014-0560361E5 - Cdn beneficiary of US living trust

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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) potential application to U.S. revocable living trust 190
Tax Topics - Income Tax Act - Section 126 - Subsection 126(1) whether there is a foreign tax credit for US tax paid by the grantor of a revocable US living trust 256

10 June 2016 STEP Roundtable Q. 10, 2016-0645781C6 - US Revocable Living Trusts

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Tax Topics - Income Tax Act - Section 70 - Subsection 70(5) transfer to remainder beneficiary of a U.S. revocable living trust on death does not occur as a consequence of death 126
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) - Paragraph 248(8)(a) remainder beneficary of inter vivos trust 165

2014 Ruling 2013-0496831R3 - Irish Common Contractual Fund

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Tax Topics - Income Tax Act - Section 96 Irish common contractual fund respected as co-ownership 54

22 November 2013 External T.I. 2013-0511771E5 - Beneficial Ownership - Disposition

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Tax Topics - General Concepts - Ownership mother as nominee for daughter's house 94

8 May 2012 CALU Roundtable Q. 6, 2012-043564

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7 October 2011 Roundtable, 2011-0411841C6 F - Succession

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15 July 2010 Internal T.I. 2010-0353701I7 - Classification foreign entity - Trust Enterprise

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4 October 2010 Internal T.I. 2008-0289461I7 - Netherlands Antilles private foundation

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Corporation Netherlands Antilles private foundation qualifies as a trust notwithstanding its separate legal personality 109

2010 Ruling 2009-0345011R3 - Irish Common Contractual Fund

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9 June 2010 External T.I. 2009-0342081E5 F - Associé déterminé

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Specified Member trust member of partnership can be actively engaged through the activities of its trustee 176

2006 Ruling 2006-0199741R3 - Irish Common Contractual Fund

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2006 Ruling 2004-0106101R3 - Class of German Arrangement & Treaty Benefits

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2004 Ruling 2004-0067771R3 - Irish Common Contractual Fund

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18 February 2002 External T.I. 2000-0046075 - Trust Affiliated with a Corporation

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10 January 1996 External T.I. 9518515 - Transfers of property to revocable living trusts

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IT-216 (Cancelled) "Corporation Holding Property as Agent for Shareholder" 20 May 1975

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Tax Topics - General Concepts - Effective Date 85

Articles

Tina Korovilas, Drew Morier, "Non-Corporate Vehicles in the Foreign Affiliate Context", 2018 Conference Report (Canadian Tax Foundation), 20:1 – 114

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Tax Topics - Income Tax Act - Section 96 122
Tax Topics - General Concepts - Ownership 245
Tax Topics - Income Tax Regulations - Regulation 5907 - Subsection 5907(11.2) - Paragraph 5907(11.2)(b) 181
Tax Topics - Income Tax Act - Section 90 - Subsection 90(1) 99
Tax Topics - Income Tax Act - Section 93.1 - Subsection 93.1(2) - Paragraph 93.1(2)(a) 120
Tax Topics - Income Tax Act - Section 93.1 - Subsection 93.1(2) - Paragraph 93.1(2)(d) - Subparagraph 93.1(2)(d)(i) 80
Tax Topics - Income Tax Regulations - Regulation 5901 - Subsection 5901(2) - Paragraph 5901(2)(b) 91
Tax Topics - Income Tax Act - Section 93 - Subsection 93(1.3) 168
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Excluded Property - Paragraph (e) 155
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Excluded Property - Paragraph (a) 368
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Excluded Property - Paragraph (c) 290
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(y) 64
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph. 95(2)(z) 332
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(a) - Subparagraph 95(2)(a)(ii) - Clause 95(2)(a)(ii)(B) - Subclause 95(2)(a)(ii)(B)(II) 169
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(a) - Subparagraph 95(2)(a)(ii) - Clause 95(2)(a)(ii)(D) 688
Tax Topics - Income Tax Act - Section 94 - Subsection 94(1) - Exempt Foreign Trust - Paragraph (h) - Subparagraph (h)(ii) - Clause (h)(ii)(C) 615

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Classification of Trusts for Income Tax Purposes", Chapter 2 of Canadian Taxation of Trusts (Canadian Tax Foundation), 2016.

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Donald G.H. Bowman (former Chief Justice of the Tax Court of Canada), "Bare Trusts and Nominee Corporations", Tax Topics (Wolters Kluwer), August 11, 2016, No. 2313, p. 1

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Jack Bernstein, "Trust Residence Question", Canadian Tax Highlights, Vol. 17, No. 7, July 2009, p. 1

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Subsection 104(2) - Taxed as individual

Cases

Olympia Trust Company v. Canada, 2015 FCA 279

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Tax Topics - Income Tax Act - Section 116 - Subsection 116(5) RRSP trustee, not annuitant, was the "purchaser" 200
Tax Topics - General Concepts - Evidence contract informed by surrounding circumstances 59

Stricker Oolup v. The Queen, 2003 DTC 2142, 2003 TCC 947 (Informal Procedure)

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Fraser v. The Queen, 91 DTC 5123 (FCTD), aff'd 95 DTC 5684 (FCA)

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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) 58

Smith v. The Queen, 87 DTC 5355, [1987] 2 CTC 138 (FCTD)

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Tax Topics - Income Tax Act - Section 173 - Subsection 173(1) 86

Drescher v. The Queen, 85 DTC 5064, [1985] 1CTC 229 (FCTD)

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Tax Topics - Statutory Interpretation - Provincial Law 50

Bouchard v. The Queen, 83 DTC 5193, [1983] CTC 173 (FCTD)

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Atinco Paper Products Ltd. v. The Queen, 78 DTC 6387, [1978] CTC 566 (FCA)

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Ablan Leon (1964) Ltd. v. MNR, 76 DTC 6280, [1976] CTC 506 (FCA)

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The Queen v. Esskay Farms Ltd., 76 DTC 6010, [1976] CTC 24 (FCTD)

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Tax Topics - General Concepts - Agency weight given to written agreement terms in finding that intermediary purchased as principal 118
Tax Topics - General Concepts - Evidence 75
Tax Topics - General Concepts - Sham no sham if documents describe intended legal rights 338
Tax Topics - General Concepts - Tax Avoidance no sham if documents describe intended legal rights 338
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(n) 195
Tax Topics - Income Tax Act - Section 245 - Old 55
Tax Topics - Income Tax Act - Section 246 - Subsection 246(1) 191
Tax Topics - Statutory Interpretation - Provincial Law 52

Kingsdale Securities Co. Ltd. v. The Queen, 74 DTC 6674, [1975] CTC 10 (FCA)

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Settled Estates Ltd. v. Minister of National Revenue, 60 DTC 1128, [1960] CTC 173, [1960] S.C.R. 606

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See Also

Evoy Estate v. The Queen, 2016 TCC 263

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Howard v. Commissioner of Taxation, [2014] HCA 21

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Tax Topics - Income Tax Act - Section 56 - Subsection 56(4) agreement assigned rights to proceeds of law suit rather than entitlement under law suit 305
Tax Topics - Income Tax Act - Section 9 - Compensation Payments damages not corporate income as not received qua director 183
Tax Topics - Income Tax Act - Section 9 - Nature of Income agreement assigned rights to proceeds of law suit rather than entitlement under law suit 305

De Mond Jr. v. The Queen, 99 DTC 893 (TCC)

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Collins v. The Queen, 96 DTC 1034 (TCC)

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Karavos v. The Queen, 95 DTC 1001 (TCC)

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Gillis v. MNR, 91 DTC 1457 (TCC)

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Nelson v. MNR, 91 DTC 37 (TCC)

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Fraser v. MNR, 89 DTC 620 (TCC)

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Zeidler v. Campbell (1988), 29 E.T.R. 113 (Alta. Q.B.)

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Bank of Nova Scotia v. Societé General (Canada), [1988] 4 WWR 232 (Alta. C.A.)

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Miconi v. MNR, 85 DTC 696 (TCC)

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Tax Topics - Income Tax Act - Section 15 - Subsection 15(2) 93

Administrative Policy

26 April 2013 External T.I. 2013-0486211E5 - Multiple Trusts

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28 December 2011 External T.I. 2011-0430261E5 - Subsection 104(2) of the Act

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5 March 2010 Internal T.I. 2009-0346261I7 F - Minimisation des pertes

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Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) - Paragraph 112(3.2)(b) a testamentary trust can qualify as an estate beneficiary for s. 112(3.2)(b) purposes 208
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) - Paragraph 112(3.2)(a) respective purviews of ss. 112(3.2)(a)(ii)(A), (B) or (C) 118

23 February 1999 External T.I. 9809755 - IN-TRUST ACCOUNTS

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19 February 1999 Internal T.I. 9831647 - LAWYER'S TRUST ACCOUNT

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22 September 1997 External T.I. 9717475 - IN-TRUST ACCOUNTS

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Income Tax Technical News, No. 7, 21 February 1996 (cancelled)

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8 March 1995 External T.I. 9433255 - CURTESY ELECTION - WHETHER A TRUST

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18 February 1994 External T.I. 9334285 - BARE TRUSTS

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24 February 1993 T.I. (Tax Window, No. 29, p. 14, ¶2439)

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31 March 1993 T.I. (Tax Window, No. 29, p. 8, ¶2444)

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25 January 1993 Memorandum (Tax Window, No. 28, p. 22, ¶2398)

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October 1992 Central Region Rulings Directorate Tax Seminar, Q.Q (May 1993 Access Letter, p. 234)

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23 January 1992 T.I. (Tax Window, No. 16, p. 21, ¶1712)

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18 November 1991 Memorandum (Tax Window, No. 11, p. 6, ¶1536)

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10 May 1990 T.I. (October 1990 Access Letter, ¶1471)

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27 October 89 Memorandum (March 1990 Access Letter, ¶1147)

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89 C.M.TC - "Bare Trusts"

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88 C.R. - Q.31

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88 C.R. - Q.32

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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) 22

80 C.R. - Q.12

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79 C.R. - Q.24

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IT-129R "Lawyers' Trust Accounts and Disbursements"

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Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.2) 59
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.3) 38
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) 164
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) 163
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(18) 49
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.01) 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) 311
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) 125
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144

Keith R. Hennel, "Escrow Arrangements in Acquisition Agreements: What Are You Creating?", CCH Tax Topics, No. 2176, November 21, 2013, p. 1

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Lipson, "The Bare Trust and the Element of Control", Tax Topics, No. 1214, 15 June 1995, p. 1.

Waters, "An Overview of the Law of Trusts", 1988 Conference Report, c. 35.

Subsection 104(4) - Deemed disposition by trust

See Also

Green v. The Queen, 2012 DTC 1061 [at 2788], 2012 TCC 10 (Informal Procedure)

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Administrative Policy

14 February 2014 Internal T.I. 2013-0490891I7 - Revocable Living Trust

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition revocable living trust formed on initial settlement date 191

6 September 2013 External T.I. 2012-0459531E5 - Gross royalty trust units held by an estate

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22 March 2013 External T.I. 2012-0473661E5 - Joint Spousal or Common-Law Partner Trust Status

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6 December 1994 External T.I. 9419695 - APPLICATION OF 104(4) TO A NON-RESIDENT TRUST

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25 April 1994 External T.I. 9409025 - COMMUNAL ORGANIZATION AND "21-YEAR RULE" FOR TRUSTS

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26 January 1994 Internal T.I. 9332406 - NON-RESIDENT TRUSTS AND 21-YEAR RULE

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8 September 1993 T.I. (Tax Window, No. 33, p. 6, ¶2640)

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31 March 1993 T.I. (Tax Window, No. 29, p. 23, ¶2451)

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22 March 1993 T.I. (Tax Window, No. 29, p. 12, ¶2443)

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1993 CALU Conference, Q. 2 (C.T.O. "Insurance Policy and Fair Market Value of Shares - CALU")

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22 November 1991 T.I. (Tax Window, No. 13, p. 7, ¶1632)

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Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 16

Articles

W.P. Goodman, "How to Minimize the Impact of the Deemed Realization of Trust Property", Goodman on Estate Planning, Vol. VII, No. 1, p. 493.

Paragraph 104(4)(a)

See Also

Grimes v. The Queen, 2016 TCC 280

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Tax Topics - General Concepts - Fair Market Value - Shares no discount for shareholder-level taxes, minority discount re NAL party’s voting control, marketability discount, advances valued at nil given practice of converting to bonuses 659

Administrative Policy

6 October 2017 APFF Roundtable Q. 14, 2017-0720321C6 F - GAAR & 21-year rule planning

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10 June 2016 STEP Roundtable Q. 11, 2016-0645821C6 - Tainting of a Spousal Trust

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28 November 2010 CTF Roundtable, 2013-0487431C6 - Value of Vote-Only Shares – 2010 CTF Conference

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Articles

Carmen Thériault, "Alter Ego and Joint Partner Trust", 21 Estates, Trusts & Pensions Journal, p. 345.

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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) 0

Paragraph 104(4)(a.2)

Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.3) 38
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) 164
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) 163
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(18) 49
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.01) 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) 311
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) 125
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Paragraph 104(4)(a.3)

Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.2) 59
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) 164
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) 163
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(18) 49
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.01) 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) 311
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) 125
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Paragraph 104(4)(b)

Administrative Policy

29 May 2018 STEP Roundtable Q. 2, 2018-0744101C6 - Creation of a Trust

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(5.8) s. 104(5.8) applied where successive testamentary trusts created 156

2 June 2011 External T.I. 2011-0399501E5 - TCP distributed by N/R trust to N/R beneficiary

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Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2) 97
Tax Topics - Income Tax Act - Section 116 - Subsection 116(5) liability of trust to withhold on distribution to NR beneficiary in satsifaction of capital interest 139

Subparagraph 104(4)(b)(ii)

Administrative Policy

5 October 2012 Roundtable, 2012-0453971C6 F - Fiducies successives/disposition 21 ans

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Subsection 104(5.3)

Articles

Edgar, "Deemed Realization of Trust Property: Proposed Amendments to the 21-Year Rule", Estates and Trusts Journal, April 1992, p. 207.

Subsection 104(5.5)

Administrative Policy

September 1992 B.C. Revenue Canada Round Table, Q. 30 (May 1993 Access Letter, p. 228)

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Tax Professionals Mini Round Table - Vancouver - Q. 30 (March 1993 Access Letter, p. 110)

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25 June 1992 External T.I. 5-921209 -

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Subsection 104(5.6)

Administrative Policy

31 March 1993 T.I. (Tax Window, No. 29, p. 11, ¶2441)

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Subsection 104(5.8) - Trust transfers

Cases

Ozerdinc Family Trust v Gowling, 2017 ONSC 6

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Tax Topics - General Concepts - Negligence, Fiduciary Duty and Fault test of causation of damages from professional negligence is a “but for” test 329

Administrative Policy

29 May 2018 STEP Roundtable Q. 2, 2018-0744101C6 - Creation of a Trust

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(b) 21-year rule’s application to testamentary trust is almost always computed from the testator’s date of death 294

13 June 2017 STEP Roundtable Q. 2, 2017-0693321C6 - GAAR and 21-year planning

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Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) abusive distribution of trust property to corporate beneficiary to defer gain for lifetimes of current beneficaries 204

2016 Ruling 2014-0552321R3 F - Trust to trust Transfer

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition - Paragraph (f) para. (f) exception applied on transfer from old discretionary inter vivos family trust to new trust with terms considered to be substantively the same 782
Tax Topics - Income Tax Act - Section 74.4 - Subsection 74.4(4) having a trust interest vest indefeasibly in a minor is consistent with the minor not receiving or having any use of the trust capital 468
Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Trust - Paragraph (g) trust holding property on its 21st anniversary for minors was not subject to s. 104(4) as their shares would have been deemed under the Trust Deed to be irrevocably determined by then 413

29 November 2016 CTF Roundtable Q. 1, 2016-0669301C6 - GAAR & 21-year rule planning

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Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) avoidance of 21-year rule through 107(2) transfer to corporate beneficiary 138

10 June 2013 STEP Roundtable, 2013-0486001C6 - 2013 STEP CRA Roundtable Question 11

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8 January 2013 External T.I. 2012-0459621E5 - Deemed disposition day on trust-to-trust transfer

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Subsection 104(5.31)

Administrative Policy

16 September 1996 External T.I. 9629565 - REVOCATION OF THE ELECTION FILED UNDER PARA 104(5.3)

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Subsection 104(6) - Deduction in computing income of trust

See Also

Turcotte v. ARQ, 2015 QCCA 396

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Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(5) no s. 104(6) deduction for testamentary gift distributed to charity and deducted under s. 118.1(5) 69

Administrative Policy

26 November 2020 STEP Roundtable, Q.1

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Tax Topics - 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 529
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13.3) scope of application of s. 104(13.3) 152

14 September 2017 Roundtable, 2017-0703921C6 - 2017 CPA Alberta Q25: Estates – Income Paid or Payable

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) IT-286R2 policy on executor’s year extends to a stub executor’s year 487

13 June 2017 STEP Roundtable Q. 10, 2017-0693351C6 - 104(6), (13), (24) and ITTN 11

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) payments by discretionary trust of alleged children's expenses must clearly be for their benefit 160

1 November 2016 Internal T.I. 2016-0663971I7 - 104(6)(b), whether amount became payable

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) income that is paid to a minor beneficiary in contravention of the trust deed is non-deductible under s. 104(6) 190
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) income distributions to minor beneficiaries contrary to trust deed included under s. 105(1) 142
Tax Topics - General Concepts - Illegality distribution contrary to trust deed not considered to be payable 137

29 November 2016 CTF Roundtable Q. 14, 2016-0669871C6 - Estate distribution

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) income may not be payable to beneficiary if estate required to pay taxes thereon 309

10 June 2016 STEP Roundtable Q. 12, 2016-0634921C6 - Phantom Income

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) distributions of phantom income must be authorized and effected under the trust deed 206

10 July 2013 Internal T.I. 2013-0475501I7 F - Amounts returned to trustee/beneficiary

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) family trust income distributed to children but repaid as reimbursement to father for family expenses was income to him, not them 221
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) distributions to children immediately paid to father 184
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) payment of income distributions by children to father not a benefit under the trust 232
Tax Topics - Income Tax Act - Section 56 - Subsection 56(4) payment of distributed family trust income by children to father did not engage s. 56(4) as it was only potential income to him 175

2007 Ruling 2007-0245281R3 - windup of income trust on sale of assets:3rd party

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Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.3) capital loss on redemption of trust units following distribution of most of its assets including as capital gains distribution 110
Tax Topics - Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(h) - Subparagraph 53(2)(h)(i.1) no ACB reduction for capital gains distribution by unit trust to bidco 86
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(21) trustees making filings on behalf of terminated fund 48
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) assumed debt traceable to capital distribution 97
Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) 90
Tax Topics - Income Tax Act - Section 80 - Subsection 80(5) 90

2007 Ruling 2007-0224201R3 - Unit trust - Capital gain allocation

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24 June 2003 External T.I. 2003-0000695 - Capital distribution to n/r beneficiary

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Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2.11) Pt XIII tax exigible, in absence of election, on distribution to NR of appreciated capital property 49

2003 Ruling 2003-000348D - Mutual Fund Trust - Capital Gain Allocation

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2002 Ruling 2001-009107A - Mutual Fund Trust-Capital Gains

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Tax Topics - Income Tax Act - Section 132 - Subsection 132(4) - Capital Gains Redemption A of formula to redeemed unitholder reduced by any amount of allocated capital gains 146

30 November 1996 Ruling 9711283 - DEDUCTIBILITY OF 94.1 INCOME TO A MUTUAL FUND TRUST

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12 December 1996 External T.I. 9629345 - DSG'N OF A REALIZED TCG TO BENEFICIARIES WHEN PAID

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(21) allocation of capital gain realized on distribution 62

IT-381R2 "Trusts - Deduction of Amounts Paid or Payable to Beneficiaries and Flow-Through of Taxable Capital Gains to Beneficiaries"

Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.2) 59
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.3) 38
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) 163
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(18) 49
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.01) 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) 311
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) 125
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Gabrielle Richards, "Executor's Year", Canadian Current Tax, October 1987, p. J49

Paragraph 104(6)(b)

Administrative Policy

18 April 2019 External T.I. 2017-0716451E5 F - Deduction in computing income of a trust

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Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) a distribution by a discretionary trust of a taxable capital gain in excess of the trust’s income could be a s. 105(1) benefit 152

14 February 2013 Internal T.I. 2011-0424341I7 F - Amounts forwarded to trustee/beneficiary

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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) s. 75(2) not applicable to dividends on common shares issued to discretionary family trust on estate freeze 237
Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) s. 56(2) did not apply to trustee/beneficiary of discretionary trust who directed income to her children and did not exercise discretion in her own favour 218
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) income was received by children beneficiaries as agent for their mother 263

30 September 2009 External T.I. 2009-0317641E5 F - Attribution de revenu

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Tax Topics - 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 179

Element B

Subparagraph (i)

Administrative Policy

29 May 2018 STEP Roundtable Q. 11, 2018-0748241C6 - Subsection 104(13.4)

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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) s. 75(2) does not apply to the deemed s. 104(4) capital gain arising in an alter ego trust on the life beneficiary’s death 146

2 May 2018 External T.I. 2017-0717831E5 - Alter ego trust in year of beneficiary's death

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13.4) - Paragraph 104(13.4)(b) distributed ordinary income earned in shortened year is deductible 94

Subsection 104(7.01) - Trusts deemed to be resident in Canada

Administrative Policy

25 July 2014 Internal T.I. 2013-0513641I7 - Deemed resident trust under subsection 94(3)

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Tax Topics - Income Tax Act - Section 120 - Subsection 120(1) addition for s. 94 deemed trust 154
Tax Topics - Income Tax Act - Section 94 - Subsection 94(3) - Paragraph 94(3)(g) required Part XIII withholding treated like Part I instalment 151

Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.2) 59
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.3) 38
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) 164
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) 163
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(18) 49
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) 311
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) 125
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Subsection 104(7.1) - Capital interest greater than income interest

Administrative Policy

2015 Ruling 2015-0578051R3 - Variation of trust indenture

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition addition of preferred units not disposition 46

2014 Ruling 2014-0518521R3 - Issuance of a new class of units - Hedged Class

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition addition of FX-hedged units 152

2012 Ruling 2011-0429611R3 - Variation of Trust Indenture

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Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(b) application of asset tests to sub LPs on look-through basis; special voting unit 363
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition reclassification of preferred REIT units 272

2012 Ruling 2011-0410181R3 - Variation of trust indenture

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Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(b) conversion of note to satisfy 10% test/partnership look-through 291
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition addition of preferred units 210

12 October 2012 External T.I. 2012-0448351E5 - treatment of trailer fee rebates

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) MFT fee rebate 195
Tax Topics - Income Tax Act - Section 12 - Subsection 12(2.1) no s. 12(2.1) inclusion if MFT fee rebate paid directly to large investor as trust distribution 195

2011 Ruling 2010-0389921R3 - New series of units - US dollar and Hedged

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2010 Ruling 2010-0361771R3 - Variation of trust indenture

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2007 Ruling 2007-0224201R3 - Unit trust - Capital gain allocation

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) gains realized in the year allocated to units redeemed at any time in the year up to amount of outside accrued gain thereon 300

2004 Ruling 2004-0074311R3 - Income Trust

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Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(a) Class B units redeemable (at X% of market average or current market) for notes of sub subject to potential price adjustment 218

2001 Ruling 2001-0108473 - XXXXXXXXXX INTEREST DEDUCTIBILITY

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ATR-65 CANCELLED 20 April 1995

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Articles

Carrie Smit, "Recent Transactions of Interest", 2011 Canadian Tax Foundation Conference Report, C. 10

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Botz, "Mutual Fund Trusts and Unit Trusts: Selected Tax and Legal Issues", 1994 Canadian Tax Journal, Vol. 42, No. 4, p. 1037.

Goodman, "The Tax Treatment of Commercial Trusts", 1989 Canadian Tax Journal, July-August issue, p. 1053

Subsection 104(8)

Cases

Re Liberal Petroleums Trust (1985), 21 E.T.R. 90 (Alta.Q.B.)

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Subsection 104(13) - Income of beneficiary

Cases

Laplante v. Canada, 2018 CAF 193

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Tax Topics - General Concepts - Sham a purported distribution of QSBCS gains to family trust beneficiaries was a sham 442

Brown v. The Queen, 79 DTC 5421, [1979] CTC 476 (FCTD)

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See Also

Caplan v. Agence du revenu du Québec, 2019 QCCQ 3269

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) income distributions to children were received by them on behalf of father 145

Lewski v Commissioner of Taxation, [2017] FCAFC 145

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Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Incurring of Expense obligation to pay purchase price was incurred on agreement date rather than subsequent closing 382
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) an alternate resolution that the taxpayer was not entitled to an income distribution if Revenue denied a trust deduction made her entitlement contingent and non-includible 356
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) - Paragraph 248(8)(b) since the taxpayer through her husband as agent had knowledge of an income distribution, her subsequent purported disclaimer was not immediate 296
Tax Topics - General Concepts - Agency knowledge of agent imputed to principal 206

Pope & Ors v. R & C Commrs., [2012] UKUT 206 (Tax and Chancery Chamber)

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Gros v. The Queen, 2012 DTC 1110 [at 3059], 2012 TCC 14 (Informal Procedure)

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Joseph v. The Queen, 2010 DTC 1229 [at 3649], 2010 TCC 350 (Informal Procedure)

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Administrative Policy

7 June 2019 STEP Roundtable Q. 11, 2019-0805771C6 - Estate as Qualified Disability Trust

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 122 - Subsection 122(3) - qualified disability trust - Paragraph (a) - Subparagraph (a)(i) a GRE likely cannot be continued indefinitely as a QDT 218

8 June 2018 Internal T.I. 2017-0683021I7 - Assignment of capital interest in a trust

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Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(5) purported drop down of trust interests by non-resident beneficiaries to ULC was ineffective so that s. 107(2.1) applied to subsequent purported asset distribution to ULC 192
Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) potential application of s. 56(2) to income distribution to non-qualifying transferee of trust interest 203
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) potential application of s. 105(1) to income distribution to non-qualifying transferee of trust interest 273
Tax Topics - Income Tax Act - Section 248 - Subsection 248(25) - Paragraph 248(25)(a) para. (a) refers to beneficiary in ordinary sense - and does not include assignee 62

24 June 2015 External T.I. 2015-0565951E5 F - Legatee by particular

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Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Beneficiary legatee by particular title is a beneficiary even if not an heir 72

2015 Ruling 2015-0570291R3 - Foreign tax credit on income from a trust

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Tax Topics - Income Tax Act - Section 126 - Subsection 126(7) - Non-Business-Income Tax withholding on IRA proceeds 65

16 June 2014 STEP Roundtable, 2014-0523001C6 - Trusts structured to invoke 75(2)

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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) Brent Kern schemes don't work even if Sommerer issue fixed 423

11 October 2013 APFF Roundtable, 2013-0495651C6 F - Revenu fractionné

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Tax Topics - Income Tax Act - Section 120.4 - Subsection 120.4(1) - Split Income - Paragraph (c) streaming of non-split income to child discretionary beneficiary and split income to mother 213

10 July 2013 Internal T.I. 2013-0475501I7 F - Amounts returned to trustee/beneficiary

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) distributions to children immediately paid to father 184
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) distributions to children immediately paid to father were deductible even though received by children as his agents 179
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) payment of income distributions by children to father not a benefit under the trust 232
Tax Topics - Income Tax Act - Section 56 - Subsection 56(4) payment of distributed family trust income by children to father did not engage s. 56(4) as it was only potential income to him 175

14 February 2013 Internal T.I. 2011-0424341I7 F - Amounts forwarded to trustee/beneficiary

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) s. 75(2) not applicable to dividends on common shares issued to discretionary family trust on estate freeze 237
Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) s. 56(2) did not apply to trustee/beneficiary of discretionary trust who directed income to her children and did not exercise discretion in her own favour 218
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) - Paragraph 104(6)(b) Quebec discretionary trust with two named trustees but, in fact, only one trustee, would not be entitled to s. 104(6)(b) deductions 155

16 October 2012 External T.I. 2012-0459061E5 - Reimbursement of Management Fee

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12 October 2012 External T.I. 2012-0448351E5 - treatment of trailer fee rebates

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.1) MFT fee rebate paid directly to large investor as trust distribution 263
Tax Topics - Income Tax Act - Section 12 - Subsection 12(2.1) no s. 12(2.1) inclusion if MFT fee rebate paid directly to large investor as trust distribution 195

2 October 2012 External T.I. 2012-0448021E5 - Distribution by a non-resident trust

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10 August 2012 External T.I. 2012-0453041E5 - Income recognition-mutual fund beneficiary

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5 July 2012 Internal T.I. 2010-0388551I7 F - Fiducie - retour de sommes

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Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) s. 75(2) does not apply to an estate freeze as the corp does not own its treasury shares issued to the trust 164
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) income distributed to daughter-in-law who in fact was not a beneficiary includible in her income under s. 105(1) but not deductible by trust under s. 104(6) 166
Tax Topics - Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(6) Foisy test of mental element accepted 238

21 June 2004 STEP Roundtable Q. 3, 2004-0069951C6 - Phantom Income

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6 June 2003 Internal T.I. 2002-0183437 - Distributions from non-resident trust

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24 March 1994 External T.I. 9402855 - DISTRIBUTIONS FROM FOREIGN TRUSTS

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IT-85R2 "Health and Welfare Trusts for Employees"

Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Beneficiaries Resident in Canada", Chapter 4 of Canadian Taxation of Trusts (Canadian Tax Foundation), 2016.

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Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.2) 59
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.3) 38
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) 164
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) 163
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(18) 49
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.01) 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) 311
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Bowman, "Sophisticated Estate-Planning Techniques: Cross-Border Dimensions", 1993 Conference Report, pp. 38-20-21:

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Subsection 104(13.1) - Amounts deemed not paid

See Also

Lussier v. The Queen, 2000 DTC 1677 (TCC)

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Tax Topics - Income Tax Act - Section 150 - Subsection 150(1) - Paragraph 150(1)(c) late designation by letter was valid return amendment 88

Administrative Policy

19 September 2015 STEP Roundtable, Q.5

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13.2) late s. 104(13.2) designation to utilize capital loss carryback 79

IT-342R "Trusts-Income Payable to Beneficiaries"

8 October 2010 Roundtable, 2010-0371921C6 F - RPA et RPDB - Montants versés à une succession

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Tax Topics - Income Tax Regulations - Regulation 103 - Subsection 103(4) lump sum paid out of RPP to estate for adult children is subject to withholding for account of estate 320

13 May 1998 External T.I. 9718325 - 104(13.1) & 104(18)

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15 January 1998 External T.I. 9729215 - DESIGNATION OF DIFFERENT AMOUNTS UNDER 104(13.1)

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7 March 1996 External T.I. 9606785 - amount designated 104(13.1) withholding tax 212(1)(C)

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8 April 1993 External T.I. 9236345 - SPOUSAL TRUST AND 104(13.1) DESIGNATION

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19 September 1991 Internal T.I. 7-912069 -

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2 May 1995 External T.I. 9501395 - SPOUSAL TRUST - SUBSECTION 104(13.1)

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25 April 1990 Memorandum (September 1990 Access Letter, ¶1427)

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19 April 1990 T.I. (September 1990 Access Letter, ¶1426)

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7 December 1989 T.I. (May 1990 Access Letter, ¶1225)

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Subsection 104(13.2) - Idem [Amounts deemed not paid]

Administrative Policy

10 June 2016 STEP Roundtable Q. 5, 2016-0634901C6 - Subsection 104(13.3)

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19 September 2015 STEP Roundtable, Q. 6(a)

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19 September 2015 STEP Roundtable, Q.5

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13.1) late s. 104(13.1) designation to utilize loss carryback 201

IT-342R "Trusts-Income Payable to Beneficiaries"

Subsection 104(13.3)

Administrative Policy

26 November 2020 STEP Roundtable, Q.1

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Tax Topics - 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 529
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) elaboration of executor's year policy 477

25 July 2016 External T.I. 2016-0630781E5 - 104(13.3) and a CPP/QPP death benefit

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) executor's year would not preclude a CPP death benefit from being payable to the beneficiaries in the year 251

Articles

Gary I. Biasini, "The Trust is Dead, Long Live The Trust", Tax Topics (Wolters Kluwer CCH), Number 2227, November 13, 2014, p. 1.

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Subsection 104(13.4)

Articles

Dane ZoBell, "Spousal Trusts Have Limited CGD Access", Canadian Tax Focus (Canadian Tax Foundation), Vol. 8, No. 1, February 2018, p. 15

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Paragraph 104(13.4)(b)

Administrative Policy

16 August 2019 External T.I. 2018-0742431E5 - Election under 104(13.4)

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2 May 2018 External T.I. 2017-0717831E5 - Alter ego trust in year of beneficiary's death

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) - Paragraph 104(6)(b) - Element B - Subparagraph (i) alter ego trust is entitled to a deduction for ordinary income distributions in the year of death 211

19 September 2015 STEP Roundtable, Q.6(b)

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Finance

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Paragraph 104(13.4)(c)

Administrative Policy

26 November 2020 STEP Roundtable, Q.2

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Tax Topics - 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 271

Subparagraph 104(13.4)(c)(i)

Administrative Policy

3 December 2019 CTF Roundtable Q. 15, 2019-0824501C6 - Subsection 104(13.4) and LCBs

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Subsection 104(14) - Election by trust and preferred beneficiary

Cases

Sachs v. The Queen, 80 DTC 6291, [1980] CTC 358 (FCA)

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Tax Topics - Income Tax Act - Section 74.1 - Subsection 74.1(2) 160

Administrative Policy

6 July 2018 External T.I. 2018-0759521E5 - Tax on split income & preferred beneficiary

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Tax Topics - Income Tax Act - Section 120.4 - Subsection 120.4(1) - Split Income - Paragraph (c) income to preferred beneficiary is not split income 101

10 June 2016 STEP Roundtable Q. 4, 2016-0645801C6 - QDT & pref beneficiary election

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Tax Topics - Income Tax Act - Section 122 - Subsection 122(3) - qualified disability trust preferred beneficiary and QDT elections not mutually exclusive 80

87 C.R. - Q.9

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87 C.R. - Q.10

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IT-394R "Preferred Beneficiary Election"

Subsection 104(15) - Allocable amount for preferred beneficiary

Paragraph 104(15)(b)

Administrative Policy

24 July 1992 External T.I. 5-921590 -

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87 C.R. - Q.11

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84 C.R. - Q.33

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Paragraph 104(15)(d)

Administrative Policy

86 C.R. - Q.55

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Subsection 104(18) - Trust for minor

Administrative Policy

19 February 2014 External T.I. 2013-0500561E5 F - Payment to a subtrust for minor

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13 June 1995 Internal T.I. 9514227 - PAYMENT INTO COURT BY AN ESTATE FOR DECEASED'S CHILDREN SECTION 104(24)

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Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.2) 59
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.3) 38
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) 164
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) 163
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.01) 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) 311
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) 125
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Jack Bernstein, "Benefitting Beneficiaries", CA Magazine, March 1996, p. 24.

Subsection 104(19) - Designation in respect of taxable dividends

Administrative Policy

30 April 2019 Internal T.I. 2018-0757591I7 F - Part IV tax and trust

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Tax Topics - Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(a) a dividend received by a trust and immediately paid to a connected corporate beneficiary was taxed under Part IV if the connection ceased before the trust year end 373

7 June 2019 STEP Roundtable Q. 14, 2019-0798511C6 - TOSI and PBE

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Tax Topics - Income Tax Act - Section 120.4 - Subsection 120.4(1) - Split Income - Paragraph (a) - Subparagraph (a)(i) subjecting dividend income paid to a preferred beneficiary to TOSI accords with tax policy – but the designation can be readily avoided 224

3 June 2016 External T.I. 2016-0647621E5 F - Dividend designation from a trust - timing

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Tax Topics - Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(a) dividend distributed by a trust to a connected corporation can be subject to Part IV tax due to the delayed implied effective date of s. 104(19) designations 115

11 October 2013 Roundtable, 2013-0495741C6 F - Dividend received by an employee trust

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11 October 2013 Roundtable, 2013-0495801C6 F - Dividend Paid to Trust and Schedule 3 of T2

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Tax Topics - Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(b) s. 104(19)-designated dividend is not received for s. 186(1)(b) purposes until year end of trust 77

14 January 2013 External T.I. 2012-0465131E5 - Dividend designation from a trust

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2 May 2011 External T.I. 2011-0392661E5 F - T2 Sched. 3 Reporting of Dividend Paid to a Trust

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Income Tax Technical News, No. 41, 23 December 2009

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25 April 1991 Memorandum (Tax Window, No. 2, p. 23, ¶1215)

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IT-372R "Trusts - Flow Through of Taxable Dividends and Interest to a Beneficiary"

Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.2) 59
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.3) 38
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) 164
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) 163
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(18) 49
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.01) 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) 125
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Subsection 104(20) - Designation in respect of non-taxable dividends

Administrative Policy

14 May 2013 External T.I. 2012-0469591E5 F - Capital dividend received by a trust and CDA

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Tax Topics - Income Tax Act - Section 89 - Subsection 89(1) - Capital Dividend Account - Paragraph (g) no addition for capital dividend received by trust in Year 1 and distributed in Year 2 to corporate beneficiary 203

Subsection 104(21) - Designation in respect of taxable capital gains

Administrative Policy

26 November 2020 STEP Roundtable, Q.3

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24 March 2015 External T.I. 2012-0470991E5 F - Mutual fund trust

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Tax Topics - Income Tax Act - Section 132 - Subsection 132(6) day trading included in investment undertaking 62
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose s. 39(4) presumption establishing expense non-deductibility 64
Tax Topics - Income Tax Act - Section 39 - Subsection 39(5) - Paragraph 39(5)(a) election can be made by leveraged day-trading MFT 183
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares capital v. income character determined at trust level 94

16 June 2014 STEP Roundtable, 2014-0523061C6 - Trust audit issues

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Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) benefit conferred when trust shares redeemed at undervalue 196
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) taxpayer stuck with two-transaction form 155
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts executors lacked power to make gift 92
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees legal and accounting expenses 45
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) settlor taking back undervalued freeze shares 76

25 February 2014 Internal T.I. 2014-0517191I7 - Late or amended 104(21) designation

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2007 Ruling 2007-0245281R3 - windup of income trust on sale of assets:3rd party

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Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.3) capital loss on redemption of trust units following distribution of most of its assets including as capital gains distribution 110
Tax Topics - Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(h) - Subparagraph 53(2)(h)(i.1) no ACB reduction for capital gains distribution by unit trust to bidco 86
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) assumed debt traceable to capital distribution 97
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) realization and distribution of target MFT gain 101
Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) 90
Tax Topics - Income Tax Act - Section 80 - Subsection 80(5) 90

1998 Strategy Institute Round Table 981493

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12 December 1996 External T.I. 9629345 - DSG'N OF A REALIZED TCG TO BENEFICIARIES WHEN PAID

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12 April 1995 External T.I. 9417135 - CANADIAN MUTUAL FUND TRUST-NON-RESIDENT

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28 June 1993 T.I. (Tax Window, No. 32, p. 11, ¶2605)

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Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 20

IT-381R3 "Trusts - Deduction of Amounts Paid or Payable to Beneficiaries and Flow-Through of Taxable Capital Gains to Beneficiaries" 14 February 1997

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Forms

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Subsection 104(21.2) - Beneficiaries’ taxable capital gain

Administrative Policy

3 August 2018 Internal T.I. 2018-0755351I7 - Trust claiming CG reserve

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Tax Topics - Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(31) s. 110.6(31) limitation on LCGE claims applied to capital gains reserves distributed by a personal trust 253

6 December 2017 External T.I. 2016-0667361E5 F - Taxable Capital Gains Designation

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Tax Topics - Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Annual Gains Limit annual gains limit of upper-tier trust does not include QSBC gains distributed and designated by lower-tier trust 144

23 June 2015 External T.I. 2015-0571801E5 F - Allocation of Capital Gains to Beneficiaries

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29 April 2014 External T.I. 2014-0518951E5 F - Taxable capital gain designation from a trust

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IT-381R2 "Trusts - Deduction of Amounts Paid or Payable to Beneficiaries and Flow-Through of Taxable Capital Gains to Beneficiaries"

Articles

Dane ZoBell, "Spousal Trusts Have Limited CGD Access", Canadian Tax Focus (Canadian Tax Foundation), Vol. 8, No. 1, February 2018, p. 15

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Subsection 104(22) - Designation in respect of foreign source income

Administrative Policy

IT-506 "Foreign Income Taxes as a Deduction From Income" 5 January 1987

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2005 Ruling 2004-0106481R3 - Employee benefit plan-Shares

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IT-201R2 "Foreign Tax Credit — Trust and Beneficiaries" 12 February 1996

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Articles

Manjit Singh, Andrew Spiro, "The Canadian Treatment of Foreign Taxes", 2014 Conference Report, (Canadian Tax Foundation), 22:1-37

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Hugh Chasmar, "Mutual Fund 'Switch Funds'", Taxation of Corporate Reorganizations, Canadian Tax Journal, Vol. 46, No. 1, 1998, p. 172 at 190

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Subsection 104(22.1) - Foreign tax deemed paid by beneficiary

Administrative Policy

IT-201R2 "Foreign Tax Credit — Trust and Beneficiaries" 12 February 1996

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Subsection 104(23) - Testamentary trusts

Administrative Policy

26 November 2020 STEP Roundtable, Q.1

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) elaboration of executor's year policy 477
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13.3) scope of application of s. 104(13.3) 152

2 October 1996 Administrative Letter 962292A - multiple returns for deceased beneficiary of trusts

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Paragraph 104(23)(a)

Administrative Policy

7 September 1994 Internal T.I. 9406256 - FIRST AND LAST TAXATION YEAR OF A TESTAMENTARY TRUST

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Subsection 104(24) - Amount payable

See Also

Caplan v. Agence du revenu du Québec, 2019 QCCQ 3269

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) family trust income purportedly distributed to the children beneficiaries was in fact received by the father as beneficiary 246

Lewski v Commissioner of Taxation, [2017] FCAFC 145

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Words and Phrases
entitlement
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Incurring of Expense obligation to pay purchase price was incurred on agreement date rather than subsequent closing 382
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) - Paragraph 248(8)(b) since the taxpayer through her husband as agent had knowledge of an income distribution, her subsequent purported disclaimer was not immediate 296
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) a trust income declaration that was subject to a tax contingency did not result in an income inclusion to the beneficiary 145
Tax Topics - General Concepts - Agency knowledge of agent imputed to principal 206

Hall v. The Queen, 2003 DTC 779, 2003 TCC 410 (Informal Procedure)

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Degrace Family Trust v. The Queen, 99 DTC 453 (TCC)

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Langer Family Trust v. MNR, 92 DTC 1055 (TCC)

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Ginsburg v. MNR, 92 DTC 1774 (TCC)

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) - Paragraph 248(8)(b) backdated renunciation was ineffective 160

Grayson v. MNR, 90 DTC 1108 (TCC)

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Administrative Policy

8 October 2010 Roundtable, 2010-0373431C6 F - Montants payés ou payables par une fiducie

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5 October 2018 APFF Roundtable Q. 2, 2018-0768901C6 F - Deemed dividend payable to trust beneficiary

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14 September 2017 Roundtable, 2017-0703921C6 - 2017 CPA Alberta Q25: Estates – Income Paid or Payable

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) income of fixed-interest trust is not per se payable 200

13 June 2017 STEP Roundtable Q. 10, 2017-0693351C6 - 104(6), (13), (24) and ITTN 11

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) a discretionary family trust may be unable to establish that expenses reimbursed by it were for the children’s benefit 281

1 November 2016 Internal T.I. 2016-0663971I7 - 104(6)(b), whether amount became payable

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Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) income distributions to minor beneficiaries contrary to trust deed included under s. 105(1) 142
Tax Topics - General Concepts - Illegality distribution contrary to trust deed not considered to be payable 137
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) prohibited distribution from trust 76

25 July 2016 External T.I. 2016-0630781E5 - 104(13.3) and a CPP/QPP death benefit

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13.3) CPP benefit generally no longer eligible under 104(13.1) 162

29 November 2016 CTF Roundtable Q. 14, 2016-0669871C6 - Estate distribution

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) income from an estate residue generally can be distributed on a deductible basis 147

8 June 2016 External T.I. 2015-0604971E5 - Deemed capital gain of a trust

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27 April 2016 External T.I. 2016-0625001E5 F - Surplus Stripping

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Tax Topics - Income Tax Act - Section 84 - Subsection 84(2) using a trust to funnel a deemed dividend from creating PUC to a Holdco beneficiary and funnelling that PUC to the individual beneficiary, is surplus stripping 220
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) funnelling deemed dividend to holdco trust beneficiary and resulting PUC to individual beneficiary/shareholder was surplus stripping 130

10 June 2016 STEP Roundtable Q. 12, 2016-0634921C6 - Phantom Income

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) payment in kind of distribution of phantom income 78

9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 6, 2015-0595851C6 F - Income of a trust payable to a beneficiary

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2 October 2015 External T.I. 2015-0595111E5 F - Amount paid pursuant to 104(24)

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5 October 2012 Roundtable, 2012-0453581C6 F - Somme payable - revenus de placements

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10 July 2013 Internal T.I. 2013-0475501I7 F - Amounts returned to trustee/beneficiary

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) family trust income distributed to children but repaid as reimbursement to father for family expenses was income to him, not them 221
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) distributions to children immediately paid to father were deductible even though received by children as his agents 179
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) payment of income distributions by children to father not a benefit under the trust 232
Tax Topics - Income Tax Act - Section 56 - Subsection 56(4) payment of distributed family trust income by children to father did not engage s. 56(4) as it was only potential income to him 175

4 March 2013 External T.I. 2011-0428661E5 - trust payments to minor

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30 October 2012 Ontario CTF Roundtable, 2012-0462931C6 - CTF Ontario Conference- Trust payment to Minor

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28 May 2012 CTF Prairie Trust Roundtable, 2012-0444891C6 - CTF Prairie Conference- Trust payment to Minor

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8 June 2010 2010 STEP Roundtable Q. 2, 2010-0363071C6 - STEP Roundtable Q2

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Effective Date 153

8 October 2010 Roundtable, 2010-0373601C6 F - Vérification des fiducies familiales

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6 March 2001 External T.I. 2000-0060825 - Employee Benefit Plan

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Income Tax Technical News, No. 11, September 30, 1997, Payments Made by a Trust for the Benefit of a Minor Beneficiary".

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26 August 1997 External T.I. 9722465 - AMOUNTS PAYABLE TO MINOR BENEFICIARIES

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6 March 1997 Internal T.I. 9606227 - amount payable to a beneficiary of a discretionary trust

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1 August 1996 External T.I. 9604555 - AMOUNT PAYABLE SUBSECTION 104(24)

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13 June 1995 Internal T.I. 9514227 - PAYMENT INTO COURT BY AN ESTATE FOR DECEASED'S CHILDREN SECTION 104(24)

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27 March 1994 9508671 - LIFETIME CAPITAL GAINS EXEMPTION & PERSONAL TRUST

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81 C.R. - Q.55

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IT-286R2 "Trusts - Amount Payable"

Finance

6 October 2017 APFF Financial Strategies and Instruments Roundtable, Q.11

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Articles

Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Trusts Resident in Canada", Chapter 3 of Canadian Taxation of Trusts, (Canadian Tax Foundation), 2016.

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(3) 374
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(4) - Paragraph 251.1(4)(d) 437
Tax Topics - Income Tax Act - Section 251.1 - Subsection 251.1(1) - Paragraph 251.1(1)(g) - Subparagraph 251.1(1)(g)(ii) 115
Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) 141
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) 331
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) 144
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(3) - Paragraph 251.2(3)(b) 112
Tax Topics - Income Tax Act - Section 252.2 - Subsection 252.2(2) 115
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(i) 176
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) - Paragraph 70(6)(d.1) 161
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 1201
Tax Topics - Treaties - Income Tax Conventions - Article 29B 239
Tax Topics - Income Tax Act - Section 248 - (2)-(41) 157
Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) 199
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.2) 59
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a.3) 38
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(6) 174
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) 164
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) 91
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(18) 49
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.01) 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) 311
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) 125
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(bb) 144
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Jack Bernstein, "Recent Tax Issues Affecting Family Trusts", Tax Profile, Vol. 5, No. 21, May 1998, p. 247.

Jack Bernstein, "Benefitting Beneficiaries", CA Magazine, March 1996, p. 24.

Gabrielle Richards, "Executor's Year", Canadian Current Tax, October 1987, p. J49

Subsection 104(27)

Administrative Policy

7 October 2011 Roundtable, 2011-0420781C6 F - Transfert de RPA à un REER au décès.

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Locations of other summaries Wordcount
Tax Topics - Income Tax Regulations - Regulation 103 - Subsection 103(4) withholding required where RPP administrator pays RPP lump sum directly to RRSP of disabled minor daughter beneficiary of estate 335
Tax Topics - Income Tax Act - Section 60 - Paragraph 60(l) - Subparagraph 60(l)(v) - Clause Subparagraph 60(l)(v)(B.01) s. 60(l) deduction where RPP administrator pays RPP lump sum directly to RRSP of disabled minor daughter beneficiary of estate 394

Paragraph 104(27)(d)

Subparagraph 104(27)(d)(ii)

Administrative Policy

7 March 2014 Internal T.I. 2013-0506671I7 F - Subparagraph 104(27)(d)(ii) and paragraph 60(j)

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Subsection 104(28)

Administrative Policy

S2-F1-C2 - Retiring Allowances

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