Section 161

Subsection 161(1) - General

Cases

Quinco Financial Inc. v. Canada, 2018 FCA 137

In 2009, the Minister reassessed to deny capital losses claimed by predecessors of the taxpayer for their 2004 taxation years. In a Rule 58...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 157 - Subsection 157(1) - Paragraph 157(1)(b) GAAR assessment for prior year was payable as at the balance-due date 182
Tax Topics - Income Tax Act - Section 245 - Subsection 245(2) taxpayers do not “apply” GAAR, but GAAR liability accrues before reassessment 284

Canada v. Zelinski, 2000 DTC 6001 (FCA)

The Court rejected the submission of the taxpayer that given that s. 158(8) deemed an assessment to be valid and binding until the time of the...

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Words and Phrases
outstanding

Wargacki v. The Queen, 92 DTC 6336, [1992] 1 CTC 269 (FCTD)

Joyal J. recommended that the Crown remit interest on the tax payable by the taxpayer that accrued between June 17, 1986 and the date his formal...

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Her Majesty the Queen v. Union Gas Limited, 90 DTC 6659, [1991] 1 CTC 1 (FCA)

For its 1978 taxation year ending March 31, 1978 the taxpayer remitted $8,916,000 and then in June 1978 directed Revenue Canada to apply...

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Rath v. The Queen, 82 DTC 6175, [1982] CTC 207 (FCA)

The taxpayer’s employer deducted amounts from his salary and remitted such amounts on his behalf as payment towards his tax liability for his...

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Galway v. M.N.R., 74 DTC 6247, [1974] CTC 313 (FCA)

On an application for a consent judgment, the Court of Appeal lacked the jurisdiction to refer an assessment back to the Minister to reassess the...

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See Also

Isah v. The Queen, 2018 TCC 28 (Informal Procedure)

After confirming the Minister’s reassessments including for gross negligence penalties, Russell J stated (at para 17):

…I note that the...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 171 - Subsection 171(1) TCC has jurisdiction to address incorrectly computed assessment interest 157

Quinco Financial Inc v. The Queen, 2016 TCC 190, aff'd 2018 FCA 137

In 2009, the Minister reassessed the taxpayer under GAAR for its taxation year ending August 27, 2004 to deny the tax benefit from a revised...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(2) taxpayers can be required to apply GAAR to themselves 147

J.K. Read Engineering Ltd. v. The Queen, 2014 DTC 1216 [at 3872], 2014 TCC 309

After finding that GAAR applied to deny capital losses of the taxpayers from the time of the abusive transactions giving rise to them rather than...

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Stare Decisis weight of obiter depends on fulness of argument 93
Tax Topics - General Concepts - Stare Decisis weight of obiter depends on fullness of argument 93
Tax Topics - Income Tax Act - Section 245 - Subsection 245(7) GAAR applies to impose liability for abusive transactions from inception 254

Ford v. The Queen, 95 D.T.C 848, [1994] 2 CTC 2395 (TCC)

The taxpayer did not file a 1991 return on or before April 30, 1992 because she had no income tax payable for that year. When a subsequent court...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 162 - Subsection 162(1) 98

Administrative Policy

26 November 2020 STEP Roundtable Q. 2, 2020-0840001C6 - Subsection 104(13.4) and LCBs

The death of the settlor of an alter ego trust, or the death of the survivor of spouses for a joint spousal trust, on July 31 triggers (under s....

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13.4) - Paragraph 104(13.4)(c) a capital loss in the tax year following the death of an alter ego trust’s settlor can eliminate interest on the terminal T3 return’s 104(4)(a) gain 431

15 October 2007 External T.I. 2007-0239491E5 F - Prepayment of Reassessments

CRA stated that it:

accepts advance payments made by corporations in anticipation of a reassessment under the Act.

This allows the corporation to...

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91 C.R. - Q.61

RC will credit a voluntary payment as being on account of the year subject to a waiver effective from the date of payment where RC has identified...

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10 June 1991 T.I. (Tax Window, No. 4, p. 23, ¶1290)

Where RC agrees to a request to substitute one type of loss for another and there is no Part I tax either on the original assessment or the...

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87 C.R. - Q.73

RC has established tolerances to provide relief where payments are received within certain time frames and where interest to the date of payment...

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Subsection 161(2) - Interest on instalments

Administrative Policy

93 C.R. - Q. 50

Since the introduction of the instalment reminder system in March 1992, it has been departmental policy to charge neither instalment interest nor...

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86 C.R. - Q.66-69

Re change from contra method to deficiency method; and maintenance of instalment accounts.

85 C.R. - Q.32

RC will permit a transfer of instalment payments previously made to the account of the same taxpayer for a later or earlier taxation year, and a...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 164 - Subsection 164(2) 28

Subsection 161(2.2) - Contra interest

Administrative Policy

87 C.R. - Q.74

Discussion of interest offset method.

Subsection 161(4.1) - Limitation — corporations

See Also

I.G. (ROCKIES) Corp. v. The Queen, 2005 DTC 289, 2005 TCC 51 (Informal Procedure)

For the purpose of computing interest on late and deficient instalment payments, the taxpayer was entitled to utilize the instalment method in s....

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Subsection 161(7) - Effect of carryback of loss, etc.

Cases

Connaught Laboratories Limited v. The Queen, 94 DTC 6697 (FCTD)

When the taxpayer was reassessed for its 1981 taxation year on the basis that it had realized a taxable capital gain, it choose to eliminate the...

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See Also

Zandi v. The Queen, 2012 DTC 1246 [at 3707], 2012 TCC 259 (Informal Procedure)

The taxpayer filed his 2007 and 2008 returns on 29 July 2009. He had $289,707,38 of taxable capital gains for 2007, which was reduced to...

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Administrative Policy

29 March 2011 External T.I. 2009-0351721E5 - Interest/ Penalty on Taxpayer-Requested Adjustment

Where a taxpayer which is a member of an associated group requests a reduction to nil in in the small business limit allocated to it under s....

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93 C.R. - Q. 49

Where three years subsequent to the claiming of a capital gains exemption, it is determined that the capital gain should actually have been...

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88 C.R. - F.Q.9

Interest may be payable on a reassessment of a taxation year even if the resulting taxable income then is reduced by the carryback of a subsequent...

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86 C.R. - Q.70

Interest on unpaid taxes arises where a taxable capital gain of year 2 originally is offset by a non-capital loss of year 1, then that non-capital...

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Paragraph 161(7)(b)

Administrative Policy

21 March 2018 External T.I. 2017-0736291E5 - Interest calculation - loss substitutions

Aco first applied a $1,000 non-capital loss from Year 1 to offset a $1,000 taxable capital gain realized in Year 2. However, it then realized a...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(b) net capital loss carried back from Year 3 replaces non-capital loss carryforward from Year 1 without interest cost 146

Subparagraph 161(7)(b)(iv)

See Also

The Bank of Nova Scotia v. The Queen, 2021 TCC 70

On March 12, 2015, the taxpayer Bank wrote to the Minister to ask that $54 million of non-capital loss from its 2008 taxation year be carried back...

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