Subsection 55(3.01)

Paragraph 55(3.01)(a)

A and B, who have been cohabiting in a conjugal relationship for 10 years and who each owned 50% of the common shares of Opco, commenced on...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Common-Law Partner	ceasing to be common-law partners after 90 days of separation did not retroactively make them unrelated for prior transactions	123

The children shareholders of two corporations (S1 and S2) that have been controlled for a number of years by their parents, transfer a portion of...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 55 - Subsection 55(4)	s. 55(4) inapplicable where parent retains control for the protection of parent’s economic interests	173

Background. Opco, a CCPC, in addition to holding residential condos on upper floors, holds the “Vacant Premises” for the purpose of leasing...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) - Subparagraph 55(3)(a)(ii)	spin-off of real estate beneath new common holdco of unrelated shareholders	107
Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(7)	taxation year end changed to immediately before building spin-off	95
Tax Topics - Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(b)	year end selection to avoid Pt. IV circularity	97

After referring to the CRA response to Q. 14(b) [16(b) below?] at the 2014 APFF Roundtable including the caution provided, the questioner...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a)	application of safe harbour where holdco interposed before spin-off transaction	62

The exception in s. 55(3)(a) would not be available where a new corporation was created in the series. Consider this example:

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 251 - Subsection 251(2) - Paragraph 251(2)(b) - Subparagraph 251(2)(b)(i)	incorporator related to corporation	67
Tax Topics - Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a)	interposition of holdco to permit related-person spin-off compliant with s. 55(3)(a)(ii) and (v)	933

Spin-off of real estate by Opco owned by 2 arm’s length shareholders does not comply with s. 55(3)(a) (p. 7)

Opco is owned on an 85-15 basis by...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a)	interposition of a Middleco in a spin-off transaction can put it back onside s. 55(3)(a)	157