Section 249.1

Subsection 249.1(1)

See Also

Les Développements Iberville Ltée v. Agence du Revenu du Québec, 2018 QCCA 1886 (Quebec Court of Appeal)

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) abuse to use rollover provisions to avoid rather than defer tax 683
Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) abuse of Quebec equivalents of ss. 85(1) and 97(2) to avoid (rather than defer) tax 420
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate property bifurcated between capital and income portion on acquisition 98
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Improvements v. Repairs or Running Expense improvements to leased retail premises were not demonstrated to be made only at tenants’ requests 106
Tax Topics - Income Tax Regulations - Regulation 402 - Subsection 402(6) purpose of inter-provincial allocation rules is for 109% of income to be allocated and taxed 558

Administrative Policy

24 December 2020 Internal T.I. 2020-0874951I7 - Change to FPE for CEBA

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(7) a corporate taxpayer can reset its first taxation year end after it has filed its first return and before it has been assessed 88

15 August 2012 External T.I. 2012-0438481E5 - Change of Fiscal Period Year-End

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11 September 1996 External T.I. 9609405 - FISCAL PERIOD - BARE TRUST

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Paragraph 249.1(1)(a)

Administrative Policy

7 September 2006 External T.I. 2006-0173701E5 F - Exercice financier d'une société

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Tax Topics - Income Tax Act - Section 150 - Subsection 150(1) - Paragraph 150(1)(a) - Subparagraph 150(1)(a)(i) initial period of years of inactivity does not suspend return-filing obligation 28

Paragraph 249.1(1)(b))

Subparagraph 249.1(1)(b)(ii)

Administrative Policy

14 January 2011 Internal T.I. 2010-0383261I7 F - Fin d'exercice d'une société de personnes

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Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(7) CRA could under s. 249.1(7) authorize changed partnership year ends that did not extend beyond calendar year limitation in 249.1(1)(b)(ii) 196

Paragraph 249.1(1)(c)

Administrative Policy

18 August 2014 External T.I. 2014-0528001E5 - Fiscal period of a partnership

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Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(4) corporate sub of upper-tier partnership is member of lower-tier partnership 105

28 August 2012 External T.I. 2012-0454811E5 - Multi-tiered joint ventures

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13 March 2012 External T.I. 2012-0432111E5 - Revised joint venture policy

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Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(a) - Revising Claims stub period CCA on transitioning away from JV CCA claims 149

Subsection 249.1(2) - Not a member of a partnership

Administrative Policy

28 February 2012 External T.I. 2011-0424191E5 F - Fiscal period of a partnership

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Words and Phrases
share of income

Subsection 249.1(3)

Administrative Policy

13 January 2010 Internal T.I. 2009-0334931I7 F - Demande de changement d'exercice

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Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(7) floating fiscal year does not require CRA approval/retroactive change to previous year end to reduce s. 85(8) penalty not permitted 287

Subsection 249.1(4) - Alternative method

Administrative Policy

20 February 2017 External T.I. 2014-0534341E5 F - Partnership change of fiscal period

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Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(7) requirement for serious commercial reason for change in non-calendar year end 80

18 August 2014 External T.I. 2014-0528001E5 - Fiscal period of a partnership

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(1) - Paragraph 249.1(1)(c) corporate sub of upper-tier partnership is member of lower-tier partnership 131

5 June 2003 External T.I. 2002-0178485 - FISCAL PERIOD OF PROPRIETORSHIPS

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11 September 1996 External T.I. 9610575 - FISCAL PERIOD - CO-OWNERSHIP

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Subsection 249.1(7) - Change of fiscal period

Administrative Policy

24 December 2020 Internal T.I. 2020-0874951I7 - Change to FPE for CEBA

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(1) fiscal period is not set until assessed 178

2017 Ruling 2016-0674681R3 - Sequential Split-Up Butterfly

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Tax Topics - Income Tax Act - Section 55 - Subsection 55(1) - Distribution sequential split-up butterfly with 1% tolerance, triggering of capital gains to generate CDA and RDTOH, and year end change to accommodate RDTOH division 747
Tax Topics - Income Tax Act - Section 129 - Subsection 129(1) capital gain deliberately triggered to generate CDA and RDTOH addition and year end change granted to isolate dividend refund 543
Tax Topics - Income Tax Act - Section 55 - Subsection 55(3.1) - Paragraph 55(3.1)(a) sale of securities for cash proceeds that are reinvested, and tendering shares for shares of offeror 58

20 February 2017 External T.I. 2014-0534341E5 F - Partnership change of fiscal period

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Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(4) a partnership of individuals can change with CRA’s permission to a different non-calendar year end 262

2015 Ruling 2015-0605901R3 F - Présomption de gain en capital

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Tax Topics - Income Tax Act - Section 55 - Subsection 55(3.01) - Paragraph 55(3.01)(g) separation of real estate assets beneath new holdco formed by unrelated shareholders 567
Tax Topics - Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) - Subparagraph 55(3)(a)(ii) spin-off of real estate beneath new common holdoc of unrelated shareholders 107
Tax Topics - Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(b) year end selection to avoid Pt. IV circularity 97

9 December 2014 External T.I. 2014-0529311E5 - Change the fiscal period end of a partnership

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14 January 2011 Internal T.I. 2010-0383261I7 F - Fin d'exercice d'une société de personnes

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Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(1) - Paragraph 249.1(1)(b)) - Subparagraph 249.1(1)(b)(ii) s. 249.1(1)(b)(ii) trumps CRA discretion under s. 249.1(7) 212

13 January 2010 Internal T.I. 2009-0334931I7 F - Demande de changement d'exercice

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(3) requested change to commencement of fiscal period entailed a change to the previous year end 63

Subsection 249.1(8) - Single-tier fiscal period alignment

Administrative Policy

8 March 2012 External T.I. 2011-0429481E5 - Single-tier alignment conditions

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Subsection 249.1(10) - Conditions to align a partnership fiscal period

Administrative Policy

24 April 2012 External T.I. 2012-0444451E5 - Multi-tier alignment election

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