Subsection 48(1)
Cases
Davis v. The Queen, 80 DTC 6056, [1980] CTC 88 (FCA)
Article VIII of the 1942 Canada-U.S. Tax Convention [analogous to Article XIII of the 1980 Convention] only provided that a person who had become...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Statutory Interpretation - Retroactivity/Retrospectivity | 47 |
Administrative Policy
26 January 1999 External T.I. 9816425 - TRUST ELECTING UNDER SECTION 48.1 OF THE ACT48.1
A testamentary trust is generally able to make the election under s. 48.1.
Discussion of requirement to flow-out the capital gain to the...
24 February 1993 Memorandum (Tax Window, No. 29, p. 19, ¶2456)
The possibility of a deferred gain being offset by the capital gains exemption must be ignored in determining the security to be deposited where...
92 C.R. - Q.6
The minimum security acceptable under s. 48(1)(c) is the amount of tax deferred. RC will accept as security the assets for which the deemed...
8 June 1990 T.I. (November 1990 Access Letter, ¶1515)
S.48(1)(c) does not provide for a contingent election, e.g., an election in respect of that number of shares of a corporation the disposition of...
87 C.R. - Q.79
RC normally prefers security that attaches to the assets subject to deferral, and this normally is achieved by completion of an acceptable...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(2) | 19 |
Articles
Suarez, "Tax Planning for Departure from Canada", 1991 Canadian Tax Journal, p. 1.
Subsection 48(3)
Administrative Policy
2 November 1990 T.I. (Tax Window, Prelim. No. 2, p. 20, ¶1071)
Where a person holds a capital interest in a trust at the time of becoming a resident of Canada, the ACB of that interest is its fair market value...
5 March 1990 T.I. (August 1990 Access Letter, ¶1383)
Where an NRO ceases to qualify as such, s. 48(3) will not apply to the shareholder's shares of the NRO if the NRO owns any property that is...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 133 - Subsection 133(1) | 13 | |
| Tax Topics - Income Tax Act - Section 54 - Adjusted Cost Base | 68 |
Subsection 48(5)
Administrative Policy
11 January 1991 T.I. (Tax Window, Prelim. No. 3, p. 17, ¶1088)
In computing the hypothetical foreign tax credit on the deemed disposition, any tax deductions or credits that would have been permitted in...
Articles
Talakshi, "Corporate Migration", 1991 Canadian Petroleum Tax Journal, Spring 1991, p. 53.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 219.1 | 0 | |
| Tax Topics - Income Tax Act - Section 250 - Subsection 250(4) | 0 | |
| Tax Topics - Income Tax Act - Section 88.1 | 0 |