Section 207.05

Subsection 207.05(2)

See Also

Hunt v. The Queen, 2022 TCC 67

The taxpayer contributed shares of a private company each year from 2009 to 2012, and sold the shares in 2013 for around $114,000. After the...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries Wordcount
Tax Topics - Other Legislation/Constitution - Constitution Act, 1867 - Section 53 Ministerial discretion to waive tax did not render the tax contrary to s. 53 273

Hunt v. The Queen, 2018 TCC 193, aff'd on narrower grounds 2020 FCA 118

Over the years 2009 to 2012, the taxpayer transferred to his Tax Free Savings Account (“TFSA”) common shares in the capital stock of a...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 207.06 - Subsection 207.06(2) Minister must consider the three s. 207.06(2) criteria 160
Tax Topics - Other Legislation/Constitution - Constitution Act, 1867 - Section 91 - Subsection 91(3) 100% TFSA advantage tax did not infringe provincial property-and-civil-rights power 233
Tax Topics - Other Legislation/Constitution - Constitution Act, 1867 - Section 53 CRA’s discretion to waive tax does not render the tax unconstitutional 155

Administrative Policy

S3-F10-C3 - Advantages – RRSPs, RESPs, RRIFs, RDSPs, FHSAs and TFSAs

Advantage tax computed only on annual basis

3.45 In the case of an advantage consisting of an increase in the FMV of plan property attributable to...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Subsection 207.05(3)

See Also

Louie v. The Queen, 2018 TCC 225, rev'd in part on "advantage" issue (for subsequent years) 2019 FCA 255

From May 15 to October 17, 2009, the taxpayer directed 71 “swaps” under which TSX-listed shares were transferred between her self-directed...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(10) share swap transactions were series notwithstanding that their particulars and end point were not known in advance 189
Tax Topics - Income Tax Act - Section 207.01 - Subsection 207.01(1) - Advantage - Paragraph (b) - Subparagraph (b)(i) temporal limitation placed on the advantages considered to arise from TFSA swap transactions 643
Tax Topics - General Concepts - Fair Market Value - Shares use of price range for share valuation was inappropriate where there was a second-by-second market 185

Subsection 207.05(4) - Transitional rule

Administrative Policy

28 May 2014 External T.I. 2013-0486111E5 F - RRSP, prohibited investment

The shares of an RRSP, which were prohibited investments held by it on 23 March 2011 and for which it made the transitional benefit election in s....

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 207.01 - Subsection 207.01(1) - Advantage no advantage on s. 51 exchange 89
Tax Topics - Income Tax Act - Section 207.01 - Subsection 207.01(13) s. 51 exchange of transitional prohibited property does not trigger s. 207.04(1) tax 134