Cases
Glencore Canada Corporation v. Canada, 2024 FCA 3
An integrated nickel-mining public company (“Falconbridge”), entered into merger agreements with a more junior public company (“Diamond...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Compensation Payments | break fee was a capital receipt | 188 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | break fee was not consideration for the disposition of a merger right as there was no such “right” | 215 |
| Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) | break fee was includible under s. 12(1)(x) | 318 |
See Also
Chagnon v. The Queen, 2011 DTC 1205 [at at 1216], 2011 TCC 268
The taxpayer, a former president of a corporation, sought to deduct legal fees arising from his successful defence to an action, in which the...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(b) | 128 |
Cormier v. MNR, 90 DTC 1167, [1990] 1 CTC 2295 (TCC)
On the sale of all the shares of a corporation the purchaser agreed to pay to the corporation's manager a "retirement allowance" equal to the...
Reed Estate v. MNR, 89 DTC 457, [1989] 2 CTC 2333 (TCC)
A principal residence was a "capital property" within the meaning of ss.54(b) and 80(1)(b), and its adjusted cost base accordingly was available...
Administrative Policy
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 6, 2023-0994241C6 F - Consequences of Transfer of DSUs to a corporation
In finding that the rights of an employee under a deferred share unit plan described in Reg. 6801(d) were not cap[ital property, and not eligible...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangement | transfer of DSU to corporation would cause it to cease to qualify, perhaps retroactively | 240 |
| Tax Topics - Income Tax Act - Section 85 - Subsection 85(1.1) | DSU rights are not eligible property and not capital property | 62 |
6 October 2017 APFF Roundtable Q. 7, 2017-0709051C6 F - Dédommagement-annulation d'une offre d'achat
In 2016-0652851C6 F, as a result of breach of a purchaser's obligation to purchase a personal residence, the individual vendor received $50,000 in...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Undepreciated Capital Cost - A | if damages relate to a particular asset of a business that was not disposed of, they will reduce the asset’s cost | 104 |
13 June 2016 External T.I. 2016-0637031E5 - Capital property excludes ECP
The distinction between a capital property (a property giving rise to a capital gain) and an eligible capital property (a property giving rise to...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 98 - Subsection 98(5) | concepts of capital property and eligible capital property do not overlap | 111 |
21 December 2012 Internal T.I. 2009-0327221I7 - Paragraph 7(1)(e) - Death of a Taxpayer
After noting that a deceased employee would be deemed under s. 7(1)(e) to dispose of unexercised stock options at fair market value on death, CRA...
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|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 110 - Subsection 110(1) - Paragraph 110(1)(d) | 75 | |
| Tax Topics - Income Tax Act - Section 164 - Subsection 164(6.1) | 223 | |
| Tax Topics - Income Tax Act - Section 164 - Subsection 164(6.4) | 99 | |
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(c) | FMV basis for stock options received by estate | 105 |
| Tax Topics - Income Tax Act - Section 7 - Subsection 7(1) - Paragraph 7(1)(e) | 99 |
10 December 2004 Internal T.I. 2004-0082341I7 F - Dissolution d'un syndicat
A union ceased operations and distributed all its net funds to its members in amounts based on their respective seniority. CRA indicated that a...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(j) | liquidating distribution to union members required to be allocated first to taxable refund of dues, and balance to proceeds of disposition of their memberships | 185 |
18 December 2003 Internal T.I. 2003-0044007 F - OPTION D'ACHAT D'ACTIONS RACHETEES
The taxpayer surrendered his stock options to his arm’s-length employer for consideration that was payable partly up front and partly in...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 7 - Subsection 7(1) - Paragraph 7(1)(b) | full option surrender consideration included under s. 7(1)(b) even though a portion thereof never paid | 170 |
| Tax Topics - Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(g) - Subparagraph 40(2)(g)(ii) | unpaid and defaulted balance of stock option surrender consideration was not property used in a property or business source | 284 |
27 April 1998 External T.I. 9800145 - non-competion agreements, client lists
A lump-sum payment received by the individual shareholder of a corporation upon a sale by that corporation of one of its business divisions and in...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Eligible Capital Property | 59 | |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | 59 |
30 October 89 T.I. (March 1990 Access Letter, ¶1146)
The disposition of money in Canadian currency would not result in a capital gain or capital loss. Therefore, money is not a capital property for...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) | 31 | |
| Tax Topics - Income Tax Act - Section 80 - Subsection 80(5) | 31 |