Section 112

Subsection 112(1) - Deduction of taxable dividends received by corporation resident in Canada

Cases

Fiducie financière Satoma v. Canada, 2018 CAF 74

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(1) - Tax Benefit tax benefit to trust from tax-free dividend even though not distributed to a beneficiary 226
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) using ss. 75(2) and 112(1) for tax-free dividends to trust thwarted s. 112(1) object to tax earnings when ultimately distributed 298
Tax Topics - Income Tax Act - Section 3 pervasive rule that the same income is not to be taxed in 2 persons’ hands 142
Tax Topics - Statutory Interpretation - Double Taxation (Presumption Against) inclusion of income in more than one taxpayer’s hands is contrary to s. 3 161
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) use of s. 75(2) to access s. 112(1) deduction for dividend in fact received by family trust, was abusive 257

Minister of National Revenue v. Trans-Canada Investment Corporation Ltd., 55 DTC 1191, [1955] CTC 275, [1956] S.C.R. 49

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Administrative Policy

13 December 1989 T.I. (May 1990 Access Letter, ¶1228)

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84 C.R. - Q.80

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Subsection 112(2.1) - No deduction permitted

See Also

Heron Bay Investments Ltd. v. The Queen, 2009 DTC 1606, 2009 DTC 1288

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Société d'investissement Desjardins v. MNR, 91 DTC 393 (TCC)

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Reed v. Nova Securities Ltd., [1985] BTC 121 (HL)

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Blok-Andersen v. MNR, 72 DTC 6309 (FCTD)

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Words and Phrases
in the course of

Administrative Policy

92 C.M.TC - Q.12

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19 March 1992 T.I. (Tax Window, No. 18, p. 11, ¶1819)

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20 December 1990 Memorandum (Tax Window, Prelim. No. 3, p. 25, ¶1122)

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86 C.R. - Q.15

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ATR-10 (31 July 86)

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84 C.R. - Q.62

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80 C.R. - Q.23

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Articles

Elizabeth J. Johnson, James R. Wilson, "Financing Foreign Affiliates: The Term Preferred Share Rules and Tower Structures", (2006), vol. 54, no. 3 Canadian Tax Journal, 726-761.

Fien, "A Directors' Liability and Indemnifications, Section 160 Assessments and Ordinary Course of Business Provisions", 1992 Conference Report , pp.53:32-53:35.

Subsection 112(2.2) - Guaranteed shares

Administrative Policy

86 C.R. - Q. 14

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Articles

Webb, "Structuring International Joint Ventures: Canadian Tax Issues to Consider", Bulletin for International Fiscal Documentation , Vol. 48, No. 8/9, August/September 1994, Special IFA issue, p. 448

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Dyer, "Preferred Share Financing", 1986 Corporate Management Tax Conference, p. 20.

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Subsection 112(3) - Loss on share that is capital property

Cases

Toronto-Dominion Bank v. Canada, 2011 DTC 5125 [at 6061], 2011 FCA 221, [2011] 6 CTC 19

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Administrative Policy

24 November 2013 CTF Roundtable, 2013-0508161C6 - Loss on disposition of shares

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) loss preservation transactions which did not satisfy the s. 93(2.01) requirements 201
Tax Topics - Income Tax Act - Section 93 - Subsection 93(2.01) loss preservation transactions which did not satisfy the s. 93(2.01) requirements 201

7 October 2011 APFF Roundtable Q. 17, 2011-0412171C6 - 112(7) - Share-for-Share Exchange - 85(1)

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1996 A.P.F.F. Round Table No. 7M12910 (Item 2.1)

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Articles

Subsection 112(3.2) - Loss on share held by trust

Administrative Policy

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

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(21) capital gain distributed to different beneficiary 131
Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) benefit conferred when trust shares redeemed at undervalue 190
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts executors lacked power to make gift 86
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees legal and accounting expenses 39
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) settlor taking back undervalued freeze shares 70

1996 Ontario Tax Conference Round Table under "S.112 Stop-Loss Amendments, Q. 1 to 4", 1997 Canadian Tax Journal , at pp. 215-218

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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 - 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
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) 379

Kevin Wark, "Corporate-Owned Insurance: Revisiting Share Redemption Arrangements", CALU Report, August 2004.

Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.6) 0

Joel Cuperfain, "Got Me Those 'Low Capital Gain, High Dividend Tax, Stop-Loss Rules, Estate Planning' Blues", Personal Tax Planning, 2002 Canadian Tax Journal, Vol. 49, No. 3, p. 764.

Jack Bernstein, "Don't Waste Capital Dividends", Canadian Tax Highlights, Vol. 8, No. 9, 26 September 2000, p.71.

Subsectiom 112(3.32)

Administrative Policy

29 May 2018 STEP Roundtable Q.15

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Subsection 112(4) - Loss on share that is not capital property

Administrative Policy

7 April 1993 Memorandum (Tax Window, No. 31, p. 6, ¶2513)

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91 C.R. - Q.34

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19 November 1990 Memorandum (Tax Window, Prelim. No. 2, p. 18, ¶1041)

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Subsection 112(4.1) - Fair market value of shares held as inventory

Administrative Policy

1995 T.E.I. Round Table, Q. 18, 953112 (C.T.O. "Dividends on Shares Held as Inventory")

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Subsection 112(8)

Subsection 112(9)

Administrative Policy

Edward Miller and Matias Milet, "Derivative Forward Agreements and Synthetic Disposition Arrangements", 2013 Conference Report, (Canadian Tax Foundation), pp.10:1-50

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Articles

Subsection 112(10)