Section 53

Subsection 53(1) - Adjustments to cost base

Paragraph 53(1)(b)

Paragraph 53(1)(c)

See Also

Burman v. The Queen, 2003 DTC 1007 (TCC)

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Administrative Policy

27 October 2017 Internal T.I. 2017-0694231I7 - Subsection 247(2), surplus, and FAPI

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Tax Topics - Income Tax Act - Section 247 - New - Subsection 247(2) s. 247(2) transfer pricing adjustment for sales undercharges to a CFA does not decrease the ES of the CFA 157
Tax Topics - Income Tax Regulations - Regulation 5907 - Subsection 5907(2) effect on surplus balances of foreign transfer-pricing adjustment might be reversed under Reg. 5907(2) 145
Tax Topics - Income Tax Regulations - Regulation 5907 - Subsection 5907(1) - Earnings - Paragraph (a) surplus could be adjusted by transfer-pricing adjustment 128

26 May 2016 IFA Roundtable Q. 6, 2016-0642081C6 - German Organschafts

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Tax Topics - Income Tax Act - Section 90 - Subsection 90(2) profit transfer payments by German sub to its German parent deemed to be dividends under s. 90(2) 303
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(a) - Subparagraph 95(2)(a)(ii) - Clause 95(2)(a)(ii)(B) profit transfer payments made by a German sub to German parent are s. 90(2) dividends not within s. 95(2)(a)(ii)(B) after 2016 147
Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) loss compensation payment under Organschaft 121

5 December 2003 External T.I. 2002-0165195

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92 C.R. - Q.28

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10 January 1992 CGA Roundtable, Q. 19, 7-912224

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September 1991 Memorandum (Tax Window, No. 9, p. 7, ¶1444)

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88 C.R. - Q.36 (p. 53:49)

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87 C.R. - Q.68 (p. 47:38)

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IT-456R "Capital Property - Some Adjustments to Cost Base," para. 2

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Articles

Tremblay, "Contributions to Capital - Cost Basis", Canadian Current Tax, October, 1987, p. 1

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Paragraph 53(1)(e)

Subparagraph 53(1)(e)(i)

Administrative Policy

2016 Ruling 2015-0617101R3 - 99(1) and timing of ACB adjustment

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Tax Topics - Income Tax Act - Section 98 - Subsection 98(5) on a s. 98(5) wind-up, the ACB of the transferor partner’s interest is bumped by YTD income 91

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

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Tax Topics - Income Tax Act - Section 34.2 - Subsection 34.2(2) no partnership-interest ACB addition for inclusion 55

10 October 2014 APFF Roundtable Q. 22, 2014-0538161C6 - APFF Conference, Q. 22 - ACB of interests in a partnership

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1 October 2013 External T.I. 2013-0491571E5 - Partial disposition of partnership interest - ACB

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Tax Topics - Income Tax Act - Section 43 - Subsection 43(1) disposition of some partnership units a part disposition 144

9 March 2012 External T.I. 2011-0416611E5 - disposition under paragraph 38(a.3)

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29 October 2002 External T.I. 2002-014633 -

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1998 Ruling 980373

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Income Tax Technical News, No. 5, 28 July 1995

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27 May 1994 External T.I. 5-940728 -

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7 June 1991 T.I. (Tax Window, No. 7, p. 9, ¶1366)

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11 March 1991 T.I. (Tax Window, No. 1, p. 5, ¶1155)

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18 April 1990 T.I. (September 1990 Access Letter, ¶1425)

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Tax Topics - Income Tax Act - Section 98 - Subsection 98(5) 54

88 C.R. - Q.22

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Articles

Margaret D. Paproski, "Partnership Interests and Negative ACB", Business Vehicles, Vol. VI, No. 3, p. 257.

Peter Lee, "Dissolution of Partnership - Calculation of Adjusted Cost Base of Partnership Interest", Business Vehicles, Vol. V, No. 4, 1999, p. 273.

Rinfret, "A Review of the AEC Pipelines Limited Partnership", 1997 Corporate Management Tax Conference Report, c. 7

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Subparagraph 53(1)(e)(iii)

Administrative Policy

9 March 1992 T.I. (Tax Window, No. 17, p. 3, ¶1789)

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3 December 1991 T.I. (Tax Window, No. 15, p. 4, ¶1673)

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16 November 1990 T.I. (Tax Window, Prelim. No. 2, p. 8, ¶1052)

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Tax Topics - Income Tax Act - Section 96 - Subsection 96(1.1) 62

84 C.R. - Q.25

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Subparagraph 53(1)(e)(iv)

See Also

Mitchell v. The Queen, 96 DTC o (TCC)

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Administrative Policy

2016 Ruling 2016-0651621R3 - Partnership carried on by sole proprietor

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 98 - Subsection 98(5) the assumption by a partner of a debt owing to it by a partnership bumped the partner’s ACB 182
Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) - Forgiven Amount no forgiven amount where partner assumed debt owing to it by partnership 46

27 June 2016 External T.I. 2016-0637341E5 F - Partnerships - Negative ACB

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Tax Topics - Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(c) - Subparagraph 53(2)(c)(v) loan advances to a limited partner may give rise to immediate s. 53(2)(c)(v) grind 243
Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.1) loans by LP to partner potentially gave rise to negative ACB gain 156
Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.13) retention of partnership profits not a contribution 138

2000 Ruling 2000-002842 -

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2000 Ruling 2000-002842 -

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29 June 2000 External T.I. 1999-001149 -

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4 June 1992 T.I. 920847 (December 1992 Access Letter, p. 34, ¶C245-044)

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89 C.R. - Q.35

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Tax Topics - Income Tax Act - Section 98 - Subsection 98(5) 26

89 C.M.TC - Q.8

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IT-338R "Partnership Interest - Effects on Adjusted Cost Base Resulting from the Admission or Retirement of a Partner"

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Tax Topics - Income Tax Act - Section 98 - Subsection 98(5) 10

IT-471R "Merger of Partnerships"

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Subparagraph 53(1)(e)(viii)

Administrative Policy

Income Tax Technical News, No. 12 under "Adjusted Cost Base of Partnership Interest - Subparagraph 53(1)(e)(viii)

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8 September 1997 T.I. 964202

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94 C.P.T.J. - Q. 4

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Paragraph 53(1)(f.1)

Administrative Policy

31 March 2016 External T.I. 2014-0524391E5 F - Debt parking

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Tax Topics - Income Tax Act - Section 80.01 - Subsection 80.01(8) debt parking rule can apply even if no capital loss is recognized 148

12 September 1990 T.I. (Tax Window, Prelim. No. 1, p. 10, ¶1016)

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16 February 1990 T.I. (July 1990 Access Letter, ¶1320)

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2014 Ruling 2013-0514191R3 - Debt restructuring, forgiveness and winding-up

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Principal Amount non-application of s. 39(2) to exchange of U.S.-dollar notes 123
Tax Topics - Income Tax Act - Section 39 - Subsection 39(2) s. 51.1 exchange of U.S.-dollar notes 123
Tax Topics - Income Tax Act - Section 51.1 s. 51.1 exchange of U.S.-dollar notes 123
Tax Topics - Income Tax Act - Section 80.01 - Subsection 80.01(4) s. 51.1 exchange of U.S.-dollar notes and ATR-66 debt slide 372

Paragraph 53(1)(h)

Administrative Policy

88 C.R. - Q.68

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Subsection 53(2) - Amounts to be deducted

Paragraph 53(2)(b)

Administrative Policy

2003 Ruling 2002-017470

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Paragraph 53(2)(c)

Administrative Policy

10 January 2005 External T.I. 2004-007593

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Tax Topics - Income Tax Act - Section 20 - Subsection 20(12) no partnership ACB reduction for partner s. 20(12) deduction 184

Subparagraph 53(2)(c)(i)

Administrative Policy

Income Tax Technical News, No. 5, 28 July 1995

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Subparagraph 53(2)(c)(v)

Cases

Tesainer v. Canada, 2009 DTC 5749, 2009 FCA 33

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Stursberg v. The Queen, 93 DTC 5271 (FCA)

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Words and Phrases
distribution

See Also

Tesainer v. The Queen, 2008 DTC 2807, 2008 TCC 101

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27 June 2016 External T.I. 2016-0637341E5 F - Partnerships - Negative ACB

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Words and Phrases
in lieu of on account of
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Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.1) loans by LP to partner potentially gave rise to negative ACB gain 156
Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.13) retention of partnership profits not a contribution 138
Tax Topics - Income Tax Act - Section 53 - Subsection 53(1) - Paragraph 53(1)(e) - Subparagraph 53(1)(e)(iv) assumption of loan can be contribution, but not retained profits 169

11 April 1995 T.I. 950865 (C.T.O. "Partnership At-Risk Rules Re Loan")

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19 April 1990 T.I. (September 1990 Access Letter, ¶1414)

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Paragraph 53(2)(h)

Articles

Goodman, "The Tax Treatment of Commercial Trusts", 1989 Canadian Tax Journal, July-August issue, p. 1053

Subparagraph 53(2)(h)(i.1)

Administrative Policy

2010 Ruling 2009-0330901R3 - Reorganization of XXXXXXXXXX

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Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2.1) recognition of capital loss on distribution of capital gain through redemption of most of trust units by corporate unitholder 98
Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) - Forgiven Amount no forgiven amount on transfer by unit trust to its parent of debt owing by parent 34

4 November 2008 External T.I. 2008-0264181E5 - Income recognition and ACB - trust units

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Words and Phrases
included

2007 Ruling 2007-0245281R3 - windup of income trust on sale of assets:3rd party

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Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.3) capital loss on redemption of trust units following distribution of most of its assets including as capital gains distribution 106
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(21) trustees making filings on behalf of terminated fund 46
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) assumed debt traceable to capital distribution 93
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) realization and distribution of target MFT gain 99
Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) 86
Tax Topics - Income Tax Act - Section 80 - Subsection 80(5) 86

2007 Ruling 2007-0237011R3 - XXXXXXXXXX - foreign buy-out of Canadian MFT

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11 January 1996 T.I. 952152 (C.T.O. "Effect of Net Capital Loss on Adjusted Costs Base on Trust Units")

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Paragraph 53(2)(k)

Administrative Policy

11 October 1991 T.I. (Tax Window, No. 11, p. 18, ¶1517)

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Subsection 53(2.1) - Election

Administrative Policy

1993 A.P.F.F. Round Table, Q. 21

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IT-273R2, "Government Assistance - General Comments," para. 12

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Tax Topics - Income Tax Act - Section 13 - Subsection 13(7.4) 16