Subsection 34.1(1) - Additional Business Income
Cases
MacKay v. Canada, 2015 FCA 94, aff'g 2014 DTC 1059 [at 2959], 2014 TCC 33
The taxpayer's dentistry practice had a January 31 fiscal year end. His practice income increased dramatically from his 2005 to 2006 fiscal year,...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Statutory Interpretation - Ordinary Meaning | no relief for "harsh" (timing difference) consequences | 82 |
Administrative Policy
10 September 2014 External T.I. 2014-0522551E5 - Income for retired partner
The "Retired Partner" retired from a partnership of individuals (the Partnership – which had an off-calendar fiscal period ending January 31...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 96 - Subsection 96(1.1) | retroactive effect of agreement to require s. 34.1(1) inclusion | 270 |
11 February 1999 External T.I. 9808185 - SECTION 34.2 RESERVE34.2
S.34.1(8) relieved an individual who had left a partnership of any additional income inclusion under s. 34.1(1) in the year of departure.
Subsection 34.1(8)
Administrative Policy
17 May 2002 External T.I. 2001-0107815 F - APPLICATION DE LA LOI
Messrs. A, B and C carried on a business as partners in the ABC partnership, which has a June 30 fiscal period end. In order to form a partnership...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 96 | s. 249.1(1) overrode the normal perspective that the partnership business was carried on by the partners both before and after a new partnership was formed | 170 |