Subsection 160.1(1) - Where excess refunded
Cases
Canada v. 984274 Alberta Inc., 2020 FCA 125
The taxpayer (“984”) reported a capital gain on its 2003 sale of land on the basis that it had acquired it from its parent (Henro) on a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 164 - Subsection 164(1) | nil assessment was an “assessment” giving rise to an s. 164(3.1) overpayment | 445 |
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) | nil assessment not subject to 3-year limitation in s. 152(4) | 190 |
| Tax Topics - General Concepts - Stare Decisis | prior decision of the FCA that “manifestly overlooked [the] established line of cases” was not to be followed | 76 |
See Also
984274 Alberta Inc. v. The Queen, 2019 TCC 85, rev'd 2020 FCA 125
The taxpayer (“984”) reported a capital gain on its 2003 sale of land on the basis that it had acquired it from its parent (Henro) on a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(ii) | reassessment made pursuant to late waiver was void | 34 |
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(8) | reassessment made pursuant to late waiver could not be cured by s. 152(8) | 47 |
| Tax Topics - Income Tax Act - Section 169 - Subsection 169(3) | voidness of assessment against 2nd taxpayer to a settlement agreement meant that it could not be assessed under s. 169(3) | 285 |
| Tax Topics - Income Tax Act - Section 164 - Subsection 164(1) | invalid reassessment could not establish a refund amount | 263 |
Ashton v. The Queen, 2012 DTC 1292 [at 3912], 2012 TCC 353 (Informal Procedure)
Pursuant to s. 160.1, the Minister reassessed the taxpayer to effect the return of refunds that the taxpayer claimed and was not entitled to. The...
Administrative Policy
8 November 2022 Internal T.I. 2022-0941391I7 - (Re)determination of section 125.7 applications
The Directorate indicated that where an excess refund of an s. 125.7(2), (2.1), or (2.2) deemed overpayment for a qualifying period was made to a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(3.4) | no time limit on making s. 152(3.4) determination/ applications can be made on RP account basis | 198 |
| Tax Topics - Income Tax Act - Section 125.7 - Subsection 125.7(1) - Qualifying Entity - Paragraph (a) | application for the benefit could be made on an RP by RP account basis | 150 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Prescribed | filing of multiple applications on an RP account basis could be authorized by the Minister | 102 |
| Tax Topics - Income Tax Act - Section 125.7 - Subsection 125.7(5) - Paragraph 125.7(5)(a) | movements of upward or downward adjustments between various RP accounts by redeterminations subject to s. 125.7(5)(a) limitation | 128 |
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(1.2) | application mutatis mutandis of normal reassessment periods | 148 |
| Tax Topics - Income Tax Act - Section 125.7 - Subsection 125.7(16) | s. 125.7(16) does not allow the extension of the time for amending an application, and does not accord the discretion to amend an election | 105 |
12 December 2002 External T.I. 2001-0100755 F - Impact of LCB on Dr and Part IV
During its the taxation year ending September 30, 2000 ("2000 TY”), Bco paid its CCPC parent (Aco) a taxable dividend of $223,500, entitling it...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 129 - Subsection 129(2) | general practice to net dividend refund against unpaid Part I tax | 115 |
| Tax Topics - Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(b) | connected dividend recipient is not required to pay s. 186(1)(b) tax if it can demonstrate by the return-filing deadline that such tax was eliminated through a loss carryback | 274 |
| Tax Topics - Income Tax Act - Section 164 - Subsection 164(1) | where subsequent loss carryback eliminates the Part I tax and dividend refund (DR), the refund interest is calculated on the initial Part I tax amount even if the DR reversal is paid by set-off | 350 |