Section 34.2

Old 34.2

Administrative Policy

4 May 2004 Internal T.I. 2004-0062671I7 F - Associé qui se joint à une société de personnes

A taxpayer departed a partnership in respect of which he had been annually deducting a reserve from income on December 31, 1995 to join another...

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19 February 1997 External T.I. 9624745 - FISCAL PERIOD - JUDGES

A newly-appointed judge is provided with a numerical example "which reflects that the allocation of income between the year of appointment and the...

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20 February 1997 Internal T.I. 9637077 - FISCAL PERIOD - SIMILAR SERVICES

"It is unlikely that the services of a financial planner would be considered to be similar to those of an accountant. In any event, in your...

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Subsection 34.2(1) - Definitions

Adjusted Stub Period Accrual Income

Administrative Policy

12 April 2012 External T.I. 2012-0436121E5 - ASPA, QTI and significant interest

A corporation with a July 31 taxation year holds an interest in a single-tier partnership with August 31 fiscal period ends. However, the...

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8 February 2012 External T.I. 2011-0425411E5 - Change in fiscal period & transitional reserve

a corporation with a June 30 year end and which is a member of a calendar year partnership switches to a calendar year. Discussion including...

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Articles

Janette Pantry, Robyn Campbell, "Partnerships and ASPA on Acquisition of Control", Canadian Tax Highlights, Vol. 24, No. 10, October 2016, p. 3

Assumptions respecting application of adjusted stub period accrual (ASPA) rules (p.3)

Assume that Partnership AB has a limited partner (ACo) whose...

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Shane Onufrechuk, Warren Pashkowick, "Tax Considerations of Major Construction Projects", 2014 Conference Report, Canadian Tax Foundation, 10:1-35.

Deferral with choice of partnership year-end with partnership in start-up (p. 10:5)

Many major construction projects are not taxable for a number...

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Paragraph (a)

Element B

Administrative Policy

12 June 2020 External T.I. 2018-0788161E5 F - Adjusted stub period accrual amount

Opco, with a November 30 year end, holds, as a limited partner, a significant interest in a calendar year partnership ("LP"), which had previously...

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Subsection 34.2(2) - Income inclusion — adjusted stub period accrual

Administrative Policy

10 May 2017 External T.I. 2017-0687051E5 F - Addition to ACB of a partnership interest

CRA considered that an amount included in a corporation’s income under s. 34.2(2) will not be added to the adjusted cost base of its partnership...

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4 November 2014 External T.I. 2014-0539191E5 - ASPA under 34.2(2)

Corp A, which has a significant interest in a partnership which, like Corp A, has a calendar year end, amalgamates on august 1, 2014 so that it...

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Subsection 34.2(11) - Transitional reserve

Administrative Policy

2015 Ruling 2015-0601441R3 - XXXXXXXXXX Partnership - winding up

Current structure

Sub1 and Sub2 (both taxable Canadian corporations and wholly-owned subsidiaries of Parent who, like them, has a calendar year...

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9 April 2014 External T.I. 2013-0503421E5 F - Transitional reserve

Can a corporation with qualifying transitional income respecting a partnership in which it has a significant interest claim a transitional reserve...

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14 February 2014 External T.I. 2012-0454481E5 F - Safe Income

The only source of income of ABC, a CCPC, is its interest in a partnership with a fiscal period end of XX. ABC has an income inclusion under s....

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Subsection 34.2(13) - No reserve

Paragraph 34.2(13)(a)

Administrative Policy

4 December 2013 External T.I. 2013-0499681E5 - Transitional reserve - tiered partnership

Can a corporate partner of a top-tier partnership in a multi-tier partnership structure continue to claim a transitional reserve under s. 34.2(11)...

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Subsection 34.2(14) - Deemed partner

Administrative Policy

2014 Ruling 2013-0516071R3 - Reorganization

The units of an LP (LP1) which already has earned profits for the year and which holds most of the units of LP2 will be transferred to a Lossco...

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