Capital Property

See Also

Chagnon v. The Queen, 2011 DTC 1205 [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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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...

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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...

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Administrative Policy

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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Locations of other summaries Wordcount
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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Locations of other summaries Wordcount
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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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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Locations of other summaries Wordcount
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

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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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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