Subsection 204.2(1.1)
See Also
Wyrstiuk v. The Queen, 2022 TCC 10 (Informal Procedure)
A lump sum of $165,000 received by the taxpayer in 2014 as a negotiated payment for the termination of his employment was found to constitute a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Earned Income - Paragraph (a) - Subparagraph (a)(i) | termination payment was not earned income | 74 |
Grenon v. The Queen, 2021 TCC 30
In order that the taxpayer’s RRSP could indirectly invest in operating businesses in which he had a management role, he instigated the formation...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 4801 - Paragraph 4801(a) - Subparagraph 4801(a)(i) - Clause 4801(a)(i)(A) | distribution of units that included significant purchases by minors and by adults who did not pay for their own units, was unlawful | 755 |
| Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) | purported establishment of “alter ego” MFTs through which an RRSP could invest in operating businesses was an abuse engaging GAAR | 605 |
| Tax Topics - General Concepts - Window Dressing | window-dressing is a deception about intention | 312 |
| Tax Topics - Income Tax Act - Section 207.1 - Subsection 207.1(1) | non-qualified investments not “included” in annuitant’s income because it was never assessed | 346 |
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) | CRA’s assessing listed taxable RRSPs in a T3GR global return was not of the taxpayer’s (also listed) RRSP /inappropriate reliance in legal opinion on certificate of fact was carelessness | 441 |
| Tax Topics - Income Tax Act - Section 207.2 - Subsection 207.2(3) | CRA’s assessment of Pt. XI.1 shown on the T3GR for all RRSPs of one type did not start the normal reassessment period for the taxpayer’s RRSP since no tax shown for it | 370 |
| Tax Topics - Income Tax Regulations - Regulation 4900 - Subsection 4900(1) - Paragraph 4900(1)(d.2) | distribution was not lawful because the issuer had not complied with the OM exemption, which was the exemption that it had chosen to rely on | 291 |
Subsection 204.2(1.2) - Undeducted RRSP premiums
See Also
Roy v. The Queen, 2019 TCC 50 (Informal Procedure)
The taxpayer began the 2006 taxation year with unused RRSP contributions of $1,856. He contributed an additional $43,000 during 2006, resulting in...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Unused RRSP Deduction Room | CRA had no authority to eliminate unused RRSP contributions as being excess contributions | 156 |
Administrative Policy
11 July 2011 External T.I. 2010-0367021E5 F - Cotisations excédentaires au REER
What is the impact of an amount withdrawn from an RRSP on element J of the algebraic formula in s. 204.2(1.2)? CRA responded:
The term...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 204.1 - Subsection 204.1(2.1) | s. 204.1(2.1) tax ceases when, at the end of the month, there is no cumulative excess amount in respect of RRSPs | 128 |
7 July 1995 External T.I. 9512035 - RRSP EXCESS CONTRIBUTIONS
"A contribution to an RRSP will generally not be considered to have been made until the financial institution to which an amount is sent accepts...
4 July 1994 External T.I. 9414445 - INVESTMENT COUNSEL FEES
The taxpayer claiming investment counsel fees must be the legal owner, i.e., the RRSP trustee, rather than the annuitant. If the annuitant pays...
J
Administrative Policy
7 October 2021 APFF Financial Strategies and Instruments Roundtable Q. 9, 2021-0903501C6 F - RRSP overcontribution and RRIF withdrawal
The 1% monthly tax under s. 204.2(2.1) is imposed on the “cumulative excess amount in respect of RRSPs” (the “cumulative excess”). A...