Paragraph 38(a)
Administrative Policy
Vorsteveldt v. A.G. (Canada), 24 January 2025 Application pursuant to ss. 18 and 18.1 of the Federal Courts Act under s. 38(a)
The applicant, who realized a capital gain on a July 2024 sale of an Ontario property, brought this application challenging the 7 January 2025...
Articles
Joint Committtee, "Federal Budget 2024 – Capital Gains Inclusion Rate", 22 January 2025 Joint Committee submission
- While the proposals to generally increase the capital gains inclusion rate (the “Capital Gains Proposals”) were not tabled in Parliament in...
Joint Committee, "Subject: Federal Budget 2024 – Capital Gains Inclusion Rate", 1 May 2024 Joint Committee Submission
Comments of the Joint Committee on the design issues for implementing the increase in the capital gains inclusion fraction to 2/3 included:
In...
Paragraph 38(a.1)
Administrative Policy
31 May 2017 External T.I. 2016-0642621E5 - Donation to private foundation
A private foundation is the sole shareholder of a corporation (whose shares are exempt shares). The corporation transfers publicly listed...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(4) | implicit finding that s. 69(4) could apply to a gift | 60 |
2015 Ruling 2014-0532201R3 - Corporate reorganization
Background
This reorganization concerns a Canadian corporate group for which five named individuals (B to F), a spousal trust for D and four...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 84 - Subsection 84(3) | cancellation of upstream shareholding on s. 88(1) wind-up | 65 |
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts | donation and sale-back of public company shares | 85 |
31 March 2003 External T.I. 2002-0171835 F - DON D'ACTIONS COTEES EN BOURSE
A taxpayer made a gift of listed shares to a public foundation as defined in section 149.1 which, by virtue of the gift representing more than 50%...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 149.1 - Subsection 149.1(6.3) | donation of Pubco shares to public foundation qualified as such given that s. 149.1(6.3) designation not effective until following year | 150 |
Subparagraph 38(a.1)(ii)
Administrative Policy
24 July 2017 External T.I. 2017-0698191E5 - Gift of securities by executors of a will
Following the death of the deceased in 2016, the executors of his estate (a graduated rate estate) make a discretionary donation of mutual fund...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(5) - Paragraph 118.1(5)(b) | an estate gift of sales proceeds of s. 70(5) property can be carried back to the terminal return | 173 |
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts - Paragraph (c) - Subparagraph (c)(i) - Clause (c)(i)(C) | estate gift of cash proceeds of s. 70(5) securities can be carried back to terminal return | 131 |
Paragraph 38(a.2)
See Also
Staltari v. The Queen, 2015 DTC 1130 [at at 818], 2015 TCC 123
A commercial real estate broker donated land to the City of Ottawa, received a charitable receipt for its appraised value and claimed that his...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Evidence | uncorroborated testimony | 99 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Business | no business where no business organization | 167 |
| Tax Topics - Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(a) | exclusion of gains that are ordinary income | 149 |
| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate | secondary intention to develop land irrelevant if land donated instead | 500 |
Paragraph 38(c)
Administrative Policy
9 August 2002 Internal T.I. 2002-0145817 F - TAUX DE DEDUCTION - PTPE - ANNEE 2000
An allowable business investment loss was recognized by an individual in an amount equal to ½ the business investment loss (BIL) realized by the...