Subsection 74.2(1) - Gain or loss deemed that of lender or transferor
Cases
GUY GERVAIS V. HER MAJESTY THE QUEEN, 2018 FCA 3
The taxpayer’s wife (Mrs. Gendron) purchased 1.04M preferred shares from the taxpayer (Mr. Gervais) at a cost of $1.04M (with Mr. Gervais...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) | basis averaging to attribute only half of a gain back to transferor spouse abused the purpose of s. 74.2(1) | 399 |
Holizkivi v. The Queen, 95 DTC 5591 (FCTD)
Rothstein J. accepted that 1/2 of the assets of a proprietorship (and, following its incorporation, entailing the issuance of 99 shares to the...
See Also
Zeitler v. Zeitler (Estate), 2010 DTC 5199 [at 7026], 2010 BCCA 216
The taxpayer transferred two properties to her husband. When her husband died intestate (giving rise to a capital gain on the two properties as a...
St-Pierre c. La Reine, 2008 DTC 3730, 2007 TCC 90
The taxpayer transferred shares of a corporation ("3101") to a management company controlled by him and the management company disposed of a...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(5) | 130 |
Administrative Policy
7 October 2021 Roundtable, 2021-0908201C6 F - Vente d'un bien détenu en copropriété par indivisi
Two Canadian-resident spouses (A and B) acquired a cottage as co-owners for $400,000. The purchase price was funded with a $100,000 cash payment...
S4-F3-C1 - Price Adjustment Clauses
CRA will consider a price adjustment clause to represent pricing at fair market value if:
- the agreement reflects a bona fide intention of the...
21 February 2013 External T.I. 2012-0465711E5 F - Attribution Rules after Divorce
Does the attribution rule in s. 74.2(1) ceases to apply after the divorce of the transferor and the transferee of a capital property so that the...
9 January 2012 External T.I. 2011-0427461E5 F - Attribution Rules and Suspended Loss Rules
Ms. A and her spouse, Mr. B, each held 50% of the common shares of Opco, with Ms. A also holding Opco preferred shares with a paid-up capital...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.6) | stop-loss rule in s, 40(3.6) gave ACB addition to common shares of transferee spouse who redeemed preferred shares gifted to him by spouse | 235 |
30 October 2002 Internal T.I. 2002-0134077 F - ATTRIBUTION DES GAINS EN CAPITAL
Two individuals transferred the shares they held of a particular company to their respective holding companies which, in turn, each disposed of a...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 74.5 - Subsection 74.5(6) | presence of indirect transfer through Holdcos for s. 74.5(1) purposes reinforced by s. 74.5(6) | 103 |
19 September 1994 External T.I. 9418825 - ATTRIBUTION RULES
S.74.2(1) (and former s. 74(2)) will not apply to attribute a capital gain on a property to a husband where he transferred the property to his...
30 October 89 T.I. (March 1990 Access Letter, ¶1159)
Where a condominium was purchased solely out of the funds of the husband but was held in joint tenancy with his wife, any capital gain or loss...
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| Tax Topics - Income Tax Act - Section 47 - Subsection 47(1) | 24 |
Paragraph 74.2(1)(a)
Administrative Policy
4 January 2012 External T.I. 2011-0418291E5 F - Transfert entre conjoints
Two spouses who were the equal co-owners of their principal residence and second home effected the transfer of a ½ interest in the principal...
Subsection 74.2(2) - Deemed gain or loss
Administrative Policy
7 July 1999 External T.I. 9911325 - SECTION 48.1 AND SUBSECTION 74.2(2)48.1
A taxable capital gain arising from an election under s. 48.1 and that is attributed to an individual under s. 74.2(1) will be deemed, for...