Subsection 116(1) - Disposition by non-resident person of certain property
See Also
Gambino v. The Queen, 2009 DTC 4, 2008 TCC 601 (Informal Procedure)
The endorsement to the taxpayer by her son of cheques from a disability insurer followed by her cashing those cheques and giving the cash to her...
Administrative Policy
Guidance on international income tax issues raised by the COVID-19 crisis, CRA Webpage 31 March 2021
As the processing of s. 116 certificate requests was interrupted by the COVID-19 crisis and processing has only resumed with a “limited...
2020 Ruling 2019-0799981R3 - Disposition – Reclassification and Stock Split
With a view to going public, a closely-held US corporation, whose issued and outstanding shares (which were taxable Canadian property and held by...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | a simultaneous consolidation of 7 identical series of common shares into 1 series, and a stock split, did not effect a disposition | 288 |
21 November 2017 CTF Roundtable Q. 14, 2017-0724241C6 - Section 116 procedures for tax-deferred dispositions on foreign mergers
For foreign mergers occurring after September 15, 2016, will CRA accept elections of the new corporation and disposing predecessor foreign...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 87 - Subsection 87(8.5) | requirements for letter election | 89 |
S4-F7-C1 - Amalgamations of Canadian Corporations
1.82 Where the shares of a predecessor corporation were taxable Canadian property of a non-resident shareholder, the postamble to subsection...
4 December 2013 Internal T.I. 2013-0489051I7 - Personal-Use-Property & Article XIII(9)
A U.S. resident owned vacant land in Canada from before September 26, 1980 and after that date built a cottage thereon. CRA found:
If the cottage...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | personal-use land and building are one property | 133 |
19 March 2013 Internal T.I. 2010-0385931I7 - Taxable Canadian property and Partnerships
A partnership is disposing of its 25% shareholding of a listed public corporation ("Pubco"). Those shares derived more than 50% of their fair...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Taxable Canadian Property - Paragraph (e) | TCP rules not applying to foreign partners of partnership | 278 |
| Tax Topics - Income Tax Act - Section 96 - Subsection 96(1) - Paragraph 96(1)(f) | partnership TCP gain but not TCP status attributed to partners | 88 |
4 January 2013 External T.I. 2012-0448681E5 - s. 116 req. of NR-estates per draft NRT legis.
CRA was asked whether a s. 116 certificate was required when an estate with American resident executors disposed of taxable Canadian property to...
29 March 2012 External T.I. 2010-0385771E5 - Taxation of an Estate
In the course of a general response respecting the obligations of a Canadian estate with Polish beneficiaries, CRA indicated that when the estate...
3 December 2012 External T.I. 2012-0457741E5 - Disposition of taxable Canadian property
Respecting a question as to whether the amalgamation of two non-resident corporations holding the shares of a Canadian subsidiary would be a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | non s. 87 amalgamation | 155 |
17 May 2012 IFA Roundtable, 2012-0444081C6 - 2012 IFA Seminar - Question 4
Respecting a disposition of taxable Canadian property by a widely-held partnership, or by a multi-tier partnerships where it is not possible to...
11 October 2012 External T.I. 2011-0429021E5 - Administrative Position subsections 87(4)/116
IT-474R2, para. 45 provides that a non-resident who by virtue of s. 87(4) disposes of shares which are taxable Canadian property is not required...
8 October 2010 Roundtable, 2010-0373401C6 F - Fiducies et ajout d'un bénéficiaire
After indicating that a court-approved addition of a beneficiary to a fully-discretionary resident trust will result either in a part disposition...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | court-approved addition of a beneficiary will result either in a part disposition of trust interests, or a constructive dissolution and resettlement of the discretionary trust | 325 |
9 February 2010 Internal T.I. 2009-0333571I7 F - Paragraphe 7(1.5) - contrepartie reçue
Employees of a Canadian-controlled private corporation then exercised their options to acquire shares of their employer (Corporation A), and then...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 7 - Subsection 7(1.5) | s. 7(1.5) rollover where employees exchanged specific s. 7(1.1) shares for shares of grandparent, even though they also received cash and PUC distribution | 454 |
| Tax Topics - Income Tax Act - Section 53 - Subsection 53(1) - Paragraph 53(1)(j) | ACB increased by s. 7(1) benefit that had not yet been triggered due to s. 7(1.5) rollover | 276 |
| Tax Topics - Income Tax Act - Section 7 - Subsection 7(1.4) | non-resident ex-employees will be required to recognize s. 7 benefit deferred by s. 7(1.5) when they dispose of the shares acquired in exchange | 148 |
24 February 2003 External T.I. 2002-014995
There is no basis for extending the administrative practice in IT-474 (allowing a taxpayer not to comply with the procedure set out in section 116...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | 95 |
1993 A.P.F.F. Round Table, Q. 25
S.116 would not normally apply in a situation where a capital gain arises under s. 40(3) on a distribution of paid-up capital to a U.S. resident.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | 43 |
24 September 1992 T.I. (Tax Window, No. 24, p. 13, ¶2181)
Where a non-resident redeems shares of a corporation with which it does not deal at arm's length giving rise to a deemed dividend under s. 84(3),...
Articles
Steve Suarez, Maire-Eve Gosselin, "Canada's Section 116 System for Nonresident Vendors of Taxable Canadian Property", Tax Notes International,9 April 2012, p. 175
Detailed discussion of application procedure and considerations.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(5.01) | 7 | |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Taxable Canadian Property | 24 |
Kevin Scott, S. Sebastian Elawny, "Estate Distributions to Non-Residents", CCH Tax Topics, No. 1911, 23 October 2008, p. 1.
Jack Bernstein, "Why Canada Should End the Roadblock to Foreign Private Equity", Tax Notes International, 46/9 May 28, 2007.
Subsection 116(2) - Certificate in respect of proposed disposition
Cases
MNR v. Morris, 2010 DTC 5013 [at 6575]
A decision of the Federal Court below to require the Minister to provide the taxpayer (a trust that allegedly was resident in Barbados for...
Morris v. Canada (National Revenue), 2009 FC 434
The applicant taxpayers were entitled to a binding ruling from the Minister that the shares disposed of by a Barbados trust were treaty-exempt (so...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Income Tax Conventions - Article 4 | 104 |
Administrative Policy
25 June 2014 External T.I. 2012-0465221E5 - Trust distributions to non-residents
Respecting a question as to whether filing of form T2062 by a trust resident in Canada in respect of a distribution to a non-resident beneficiary...
1992 A.P.F.F. Annual Conference, Q. 23 (January - February 1993 Access Letter, p. 59)
RC will accept, in lieu of security under s. 116(2)(b), a letter outlining the computation of the expected amount of any capital gain, including...
1992 A.P.F.F. Annual Conference, Q. 13 (January - February 1993 Access Letter, p. 55)
The requirements of s. 116 must be complied with even in the case of a capital reorganization described in s. 86.
90 C.P.T.J. - Q.28
If a non-resident requests a certificate of compliance as the result of an election in respect of a transfer under s. 85(1), RC will not issue the...
87 C.R. - Q.79
A bank guarantee, mortgage or deposit agreement enforceable in Canada normally would be considered as acceptable security.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 48 - Subsection 48(1) | 25 |
87 C.R. - Q.87
Where a partnership containing a large number of partners is disposing of taxable Canadian property, RC is prepared to accept one form T2062...
87 C.R. - Q.90
Tax returns, where available, provide very reliable evidence of an individual's residence status.
86 C.R. - Q.89
Where shares derive their value principally from real estate, and a new-style treaty governs, then a payment on account of tax or acceptable...
IT-150R2 "Acquisition from a Non-Resident of Certain Property on Death or Mortgage Foreclosure or by Virtue of a Deemed Disposition" /p>
IC 72-17R4 "Procedures concerning the disposition of taxable Canadian property by non-residents of Canada - Section 116"
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | 27 |
Subsection 116(3) - Notice to Minister
See Also
Lipson v. The Queen, 2012 DTC 1064 [at 2796], 2012 TCC 20
The taxpayers received a number of capital distributions from the liquidator of their mother's "succession" (a Quebec estate), but only filed a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(1) | Quebec succession not a trust | 271 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Taxable Canadian Property | 184 |
Serge Côté Family Trust v. Canada (Attorney General), 2010 DTC 5071 [at 6798], 2009 FC 698
The taxpayer, a non-resident family trust, transferred assets to a corporation owned by the trustee. It filed an election form (T2057) but...
Administrative Policy
7 October 2021 APFF Roundtable Q. 16, 2021-0901061C6 F - 2021 APFF Q.16 - Disclosure of a counter letter
Where there is a disposition of taxable Canadian property by a non-resident acting solely as nominee for the beneficial owner, who is a Canadian...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(i) | failure to disclose a counter agreement is neglect or carelessness | 196 |
30 May 2018 External T.I. 2017-0717981E5 - Clearance certificate for a non-resident
A former resident of Canada (and after her death, her non-resident estate, which had exclusively non-resident beneficiaries) received CPP,...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 159 - Subsection 159(2) | executors of non-resident estates that could have Canadian tax liabilities to apply for a clearance certificate | 174 |
17 February 2014 Internal T.I. 2013-0498121I7 - Follow up to XXXXXXXXXX
During a Canadian posting, a diplomat purchased a property in another city for his adult child, and then sold it to the child (without applying...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 162 - Subsection 162(7) | diplomatic exemption/discretion if property sold at loss | 129 |
25 September 2013 External T.I. 2013-0485751E5 F - Rescinding 45(2) election by a non-resident
If a non-resident holding Canadian real estate rescinds, in a subsequent taxation year, a s. 45(2) election that was made with respect to the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 45 - Subsection 45(2) | deemed dispositin on 1st day of revocation year triggers s. 116(3) filing | 157 |
Subsection 116(4) - Certificate in respect of property disposed of
See Also
Corporation A.A.A. S.A. v. MNR, 92 DTC 1805, [1992] 1 CTC 2476 (TCC)
The non-resident taxpayer, which was late in filing a return reporting a capital gain on its disposition of taxable Canadian property, was...
Administrative Policy
17 February 2017 External T.I. 2015-0602781E5 - Disposition of farm property by a non-resident
A resident of Germany will gift her shares, each qualifying as a “share of the capital stock of a family farm or fishing corporation” under s....
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | shares of Cdn farm are excluded from immovable property under Canada-Germany Treaty | 144 |
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(6.1) | failure to file notice within 30 days | 150 |
8 May 1995 External T.I. 9504015 - MEANING OF TAX CND PTY (SHARES HELD AS INVENTORY)
Notwithstanding that s. 116 does not apply to shares held as inventory, RC generally will issue a certificate if it is satisfied that no Part I...
Subsection 116(5) - Liability of purchaser
Cases
Coast Capital Savings Credit Union v. Canada, 2016 FCA 181
The applicant (“Coast Capital”), which was the trustee of RRSPs and RRIFs, was assessed under s. 116(5) for failure to withhold on its...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Sham | deceit of taxpayer was irrelevant to assessment – so that “sham” also was irrelevant | 282 |
| Tax Topics - Income Tax Act - Section 54 - Adjusted Cost Base | no bifurcation of inflated purchase price between FMV cost and benefit conferral | 142 |
Olympia Trust Company v. Canada, 2015 FCA 279
The Minister assessed the appellant trust company under s. 116(5) for its failure to withhold from the purchase price paid by self-directed RRSP...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) | fictitious s. 104(2) trust is not the purchaser | 118 |
| Tax Topics - General Concepts - Evidence | contract informed by surrounding circumstances | 59 |
See Also
1074022 B.C. Ltd. v Li, 2020 BCSC 65
On a court-approved sale (arising in connection with foreclosure proceedings) of a Vancouver property owned by a resident of Hong Kong (Mr. Li),...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 164 - Subsection 164(1) | CRA could be directed to pay an excess s. 116 remittance to the taxpayer’s secured creditors | 351 |
Kau v. The Queen, 2018 TCC 156
In 2011, the taxpayer entered into an agreement to purchase a Toronto condominium, and retained an Ontario lawyer, Mr. E. Zou, to handle this real...
Scotia Mortgage Corporation v Gladu, 2017 BCSC 1182
Two banks which had foreclosed on properties of non-resident debtors, petitioned the B.C. Supreme Court for a declaration that a purchaser of the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 220 - Subsection 220(1) | no jurisdiction to declare that a vendor was a Canadian resident for s. 116 purposes | 265 |
Coast Capital Savings Credit Union v. The Queen, 2015 TCC 195, aff'd 2016 FCA 181
The trustee of RRSPs was duped into purchasing shares of Canadian companies from offshore entities at a price substantially in excess of their...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Sham | sham may be pleaded only by the Minister | 227 |
Olympia Trust Company v. The Queen, 2014 TCC 372, aff'd 2015 DTC 5134 [at 6411], 2015 FCA 279
The Minister assessed the appellant trust company under s. 116(5) for its failure to withhold from the purchase price paid by self-directed RRSP...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | RRSP trustee, not annuitant, was the "purchaser" | 144 |
Administrative Policy
27 October 2020 CTF Roundtable Q. 4, 2020-0862451C6 - Sale of TCP by a partnership
CRA’s practice of accepting a consolidated s. 116 certificate request from a partnership disposing of taxable Canadian property (rather than...
9 August 2017 External T.I. 2017-0709351E5 - Interaction between subsections 98(1) and 116(5)
Where a partnership has ceased to exist, any negative adjusted cost base to a taxpayer (including a non-resident) of its partnership interest at...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 98 - Subsection 98(1) - Paragraph 98(1)(c) | a negative ACB gain from a partnership interest that is TCP is not subject to s. 116 | 121 |
May 2016 Alberta CPA Roundtable, Q.14
How is a s. 116(5) or (5.3) remittance to be paid where the vendor has not filed a T2062? CRA responded:
The purchaser is not required to provide...
16 March 2015 Internal T.I. 2013-0479861I7 - Section 116 & forfeited deposits on real property
A non-resident vendor received a deposit under an agreement for sale of B.C. real property, which will be forfeited to it due to failure of the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition - Paragraph (b) | forfeited sale deposit was proceeds | 79 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(4) | forfeited sale deposit was proceeds of security interest rather than of tcp | 264 |
2 June 2011 External T.I. 2011-0399501E5 - TCP distributed by N/R trust to N/R beneficiary
A non-resident inter vivos trust distributes its shares of a private Canadian real estate corporation (Canco) in satisfaction of the capital...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(b) | 110 | |
| Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2) | 97 |
10 February 2011 External T.I. 2010-0387151E5 - Deemed Disposition of Shares by a Non-Resident
On the redemption of shares of a non-resident which are taxable Canadian property, any resulting deemed dividend that is subject to Part XIII tax...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(2) | 44 |
12 June 2009 External T.I. 2008-0301701E5 - Redemption of shares
Where a Canadian corporation redeems its shares for an amount in excess of paid-up capital, its liability under s. 116(5) will not be reduced by...
21 September 2006 Internal T.I. 2006-0201651I7 - Disposition of Taxable Canadian Property ("TCP")
Taxable Canadian property of a non-resident was expropriated by a municipality and the non-resident was paid compensation. However, the...
28 November 2001 Internal T.I. 2001-0091247 - Employer Stock Opt. & Section 116116(5)
S.49(3) did not apply to deem the exercise of employee stock options held by a non-resident former employee to not be a disposition of the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | 131 | |
| Tax Topics - Income Tax Act - Section 49 - Subsection 49(3) | 80 |
6 February 1997 External T.I. 9626625 - SECTION 116 - JOINT TENANCY
Where property is held by a non-resident and a resident in joint tenancy, the s. 116 certificate limit should be for half the proceeds of...
12 February 1997 External T.I. 9631575 - INTERACTION OF SECTIONS 51 AND 116
A non-resident exchanged pursuant to s. 51(1) his common shares (which were taxable Canadian property) of a Canadian private corporation for...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 51 - Subsection 51(1) | s. 51(1) does not deem the issuer not to have acquired the exchanged share | 97 |
| Tax Topics - Income Tax Act - Section 54 - Adjusted Cost Base | cost of shares acquired by issuer on s. 51(1) exchange is stated capital of new shares | 141 |
11 October 1996 T.I. 963371 (C.T.O. "Sec 116 Exercise of Power of Sale Non-Resident Mortgagee")
"It is our understanding that where a mortgagee exercises a power of sale, pursuant to the terms of the mortgage, a court order or the provisions...
24 May 1995 External T.I. 9501345 - SECTION 116 - POWER OF SALE
"Where a mortgagee exercises a power of sale pursuant to the terms of the mortgage, a court order or the provisions of the relevant Mortgage Act,...
5 April 1995 External T.I. 9431435 - FORECLOSURE AND 116(5)
Where a mortgagee acquires property by means of an order of foreclosure, no amount passes to the mortgagee because neither the mortgage nor the...
1 March 1995 External T.I. 5-940226
"The provisions of section 116 of the Act apply to the redemption of a share of the capital stock of a corporation held by a non-resident if the...
October 1989 Revenue Canada Round Table - Q.16 (Jan. 90 Access Letter, ¶1075)
Although RC acknowledges that the definition of taxable Canadian property does not include inventory, RC will not rule prior to the end of the...
88 C.R. - Q.6
Provided the creditor does not obtain title to the property, liability for tax under s. 116(5) or (5.3) does not extend to a mortgagee where the...
84 C.R. - Q.39
Since the liability of the purchaser is computed by reference to the "cost" to it of the property, such liability is not affected by the fact that...
Articles
Vivien Morgan, "CRA on Section 116", Canadian Tax Highlights, Vol. 17, No. 9, September, 2009, p. 9.
Gabrielle M.R. Richards, "Capital Financing by Non-Residents: Section 116 Obligations", Corporate Structures and Groups, Vol. VII, No. 3, 2002, p. 375
CCRA is of the view that the cost for purposes of s. 116(5)(c) of shares acquired pursuant to a convertible share is the amount credited to the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 51 - Subsection 51(1) | 36 |
Paragraph 116(5)(a)
Administrative Policy
25 August 2017 External T.I. 2017-0703351E5 - Paragraph 116(5)(a) - reasonable inquiry
Will the reasonable inquiry requirement in s. 116(5)(a) be satisfied in an arm’s length real estate purchase if the purchaser obtains a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(5.3) | statutory declaration sufficient if no negative markers | 92 |
Subsection 116(5.02)
Administrative Policy
2020 Ruling 2019-0801011R3 - Article 13(4) of the Treaty
CRA ruled that the gifting by a non-resident of Canada, who was a resident of a redacted country for purposes of Art. 4(1) of the Treaty with that...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | a Treaty exempted the gain on the sale of a non-resident holding company holding Canadian vacant land | 221 |
Subsection 116(5.2) - Certificates for dispositions
Administrative Policy
90 C.R. - Q59
RC is reviewing its practice that two notices (T2062 for capital property and T2062A for depreciable property) are required for the disposition of...
89 C.P.T.J. - Q2
Non-resident federal tax rates must be used for individuals, and 36% for corporations.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(5.3) | 46 |
Subsection 116(5.3) - Liability of purchaser in certain cases
Administrative Policy
25 August 2017 External T.I. 2017-0703351E5 - Paragraph 116(5)(a) - reasonable inquiry
When asked whether the reasonable inquiry requirement was met if the purchaser obtains a statutory declaration from the vendor that the vendor is...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(5) - Paragraph 116(5)(a) | in the absence of counter indicators, a statutory declaration of residence is sufficient | 170 |
29 January 2013 External T.I. 2012-0470331E5 - S.116 - Qualified Business Exemption
After noting that, as per IC72-17R6, para. 36, CRA provides an exemption for land held in inventory pursuant to which the vendor can request a...
25 October 1993 Income Tax Severed Letter 9324605 - Foreclosure Action Instituted by Mortgagee
RC's views concerning a mortgagee instituting a foreclosure action apply in all jurisdictions in Canada, whether the mortgage is registered under...
89 C.P.T.J. - Q2
Where either the non-resident vendor or the purchaser are remitting funds on account for the non-resident's future liability, the payment should...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(5.2) | 12 |
81 C.R. - Q.19
RC administers the requirement to withhold 50% strictly.
Where a non-resident has failed to obtain a s. 116 certificate on a transfer to its...
Subsection 116(5.01) - Treaty-protected property
Articles
Steve Suarez, Maire-Eve Gosselin, "Canada's Section 116 System for Nonresident Vendors of Taxable Canadian Property", Tax Notes International,9 April 2012, p. 175
Detailed discussion of limitations on the defence.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(1) | 7 | |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Taxable Canadian Property | 24 |
Michael N. Kandev, Fred Purkey, "Practical Troubles With the Disposition of Canadian-Situs Property by Nonresidents of Canada", Practitoner's Corner, Tax Notes International, 12 September 2011, p. 807.
Rhonda Rudick, "No Section 116 Safe Harbour", Tax Topics, 12 May 2011, No. 2044, p. 1
The author at CRA of Doc. No. 2008-0289051E5 dated 4 January 2011 orally indicated that notwithstanding the view expressed at the 2009 ICAA/CRA...
Subsection 116(6.1) - Treaty-exempt property
Administrative Policy
17 February 2017 External T.I. 2015-0602781E5 - Disposition of farm property by a non-resident
The s. 73(4.1) rollover applies to a gift by a German resident of her shares of a family farm corporation to her son. The shares likely are...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(4) | CRA may accept a T2062 showing deemed s. 73(4.1) rollover proceeds | 297 |
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | shares of Cdn farm are excluded from immovable property under Canada-Germany Treaty | 144 |
2012 Ruling 2011-0429961R3 - Hydrocarbon & Immovable property: Canada-UK Treaty
Ruling that the transfer of shares of a UK company (Forco2) by two other UK companies (Forco1 and Forco4) would be exempt under Art. XIII, para. 8...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | 97 |