Subsection 75(2) - Trusts
Cases
Fiducie financière Satoma v. Canada, 2018 FCA 74
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| Tax Topics - Income Tax Act - Section 245 - Subsection 245(1) - Tax Benefit | tax benefit to trust from tax-free dividend even though not distributed to a beneficiary | 265 |
| Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) | using ss. 75(2) and 112(1) for tax-free dividends to trust thwarted s. 112(1) object to tax earnings when ultimately distributed | 299 |
| Tax Topics - Income Tax Act - Section 3 | pervasive rule that the same income is not to be taxed in 2 persons’ hands | 142 |
| Tax Topics - Statutory Interpretation - Double Taxation (Presumption Against) | inclusion of income in more than one taxpayer’s hands is contrary to s. 3 | 161 |
| Tax Topics - Income Tax Act - Section 112 - Subsection 112(1) | abusive to use s. 112(1) so as to avoid ultimate taxation of individuals | 168 |
Canada v. Sommerer, 2012 DTC 5126 [at 7219], 2012 FCA 207
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(1) | Austrian foundation likely not a trust | 175 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(5) | 70 | |
| Tax Topics - Treaties | treaty applies to economic double taxation | 338 |
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | attributed gain not included | 393 |
Fraser v. The Queen, 91 DTC 5123 (FCTD), aff'd 95 DTC 5684 (FCA)
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) | 74 |
The Queen v. Quinn, 73 DTC 5215, [1973] CTC 258 (FCTD)
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| Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(c) | 85 | |
| Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) | 90 |
See Also
Fiducie Financière Satoma v. The Queen, 2017 TCC 84, aff'd 2018 FCA 74
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| Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) | use of s. 75(2) attribution rule and s. 112(1) DRD to extract surplus to a family trust was abusive | 519 |
| Tax Topics - Income Tax Act - Section 245 - Subsection 245(1) - Tax Benefit | tax benefit even though corporate surplus stripped in favour of family trust had not so far been distributed | 207 |
Brent Kern Family Trust v. The Queen, 2013 DTC 1249 [at 1396], 2013 TCC 327, aff'd 2014 FCA 230
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Sommerer v. The Queen, 2011 DTC 1162 [at 845], 2011 TCC 212, aff'd 2012 FCA 207
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| Tax Topics - General Concepts - Effective Date | retroactive amendment respected | 272 |
| Tax Topics - Statutory Interpretation - Treaties | 55 | |
| Tax Topics - Treaties | 172 |
Garron Family Trust v. The Queen, 2009 DTC 1568, 2009 TCC 450, aff'd sub nom St. Michael Trust Corp. v. The Queen, 2010 DTC 5189 [at 7361], 2010 FCA 309, aff'd sub nom Fundy Settlement v. Canada, 2012 SCC 14
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| Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) | 149 |
Administrative Policy
17 July 2019 Internal T.I. 2017-0718021I7 - Deregistration of TFSA
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| Tax Topics - Income Tax Act - Section 146.2 - Subsection 146.2(5) - Paragraph 146.2(5)(c) | s. 75(2) applied to TFSA when it ceased to qualify | 205 |
7 June 2019 STEP CRA Roundtable, Q.12
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| Tax Topics - Income Tax Regulations - Regulation 204 - Subsection 204(1) | Satoma has not changed the CRA view that trusts must report income that is attributed to the settlor under s. 75(2) | 270 |
29 May 2018 STEP Roundtable Q. 11, 2018-0748241C6 - Subsection 104(13.4)
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) - Paragraph 104(6)(b) - Element B - Subparagraph (i) | s. 104(4) gain is taxable in an alter ego trust | 133 |
16 February 2017 Internal T.I. 2016-0669881I7 - 75(2) applicability to trust
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12 July 2016 External T.I. 2014-0560361E5 - Cdn beneficiary of US living trust
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(1) | question of fact whether a U.S. revocable living trust is an excluded trust | 128 |
| Tax Topics - Income Tax Act - Section 126 - Subsection 126(1) | whether there is a foreign tax credit for US tax paid by the grantor of a revocable US living trust | 248 |
10 June 2016 STEP Roundtable Q. 13, 2016-0645811C6 - Filing Obligation for 75(2) trust
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| Tax Topics - Income Tax Regulations - Regulation 204 - Subsection 204(1) | s.75(2) trust generating losses need not file T3 returns | 190 |
2015 Ruling 2015-0610391R3 - Whether 75(2) will apply to new trusts
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| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Trust - Paragraph (g) | interests vested (but not distributed) before 21st anniversary | 136 |
13 April 2015 External T.I. 2012-0449141E5 F - Usufruct
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| Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2.1) | 107(2.1) application to termination of usufruct created for valuable consideration | 124 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(3) | application of trust provisions to creation of usufruct | 93 |
10 October 2014 APFF Roundtable, 2014-0538241C6 F - 75(2) and definition of "earned income" in 146(1)
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| Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Earned Income | character preservation of s. 75(2) attributed income | 116 |
| Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.6) | basis adjustment for denied capital loss (otherwise subject to s. 75(2) attribution) at trust level | 202 |
3 October 2014 External T.I. 2013-0476871E5 - Subsection 75(2)
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16 June 2014 STEP Roundtable, 2014-0523061C6 - Trust audit issues
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(21) | capital gain distributed to different beneficiary | 131 |
| Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) | benefit conferred when trust shares redeemed at undervalue | 190 |
| Tax Topics - Income Tax Act - Section 112 - Subsection 112(3.2) | taxpayer stuck with two-transaction form | 147 |
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts | executors lacked power to make gift | 86 |
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Legal and other Professional Fees | legal and accounting expenses | 39 |
16 June 2014 STEP Roundtable, 2014-0523001C6 - Trusts structured to invoke 75(2)
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) | Brent Kern schemes don't work even if Sommerer issue fixed | 301 |
12 February 2014 Internal T.I. 2013-0508841I7 F - Application of subsection 75(2)
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23 January 2014 External T.I. 2013-0500711E5 F - Paragraph 75(2)
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11 October 2013 APFF Roundtable, 2013-0495721C6 F - APFF 2013- Round table question 7
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| Tax Topics - General Concepts - Fair Market Value - Shares | FMV is a question of fact within TCC's discretion | 181 |
11 June 2013 STEP Roundtable Q. 9, 2013-0480351C6 - STEP CRA Roundtable Q9 - June 2013
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23 May 2013 Internal T.I. 2013-0481651I7 F - Attribution rules- business loss
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14 February 2013 Internal T.I. 2011-0424341I7 F - Amounts forwarded to trustee/beneficiary
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| Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) | s. 56(2) did not apply to trustee/beneficiary of discretionary trust who directed income to her children and did not exercise discretion in her own favour | 204 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) | income was received by children beneficiaries as agent for their mother | 255 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(6) - Paragraph 104(6)(b) | Quebec discretionary trust with two named trustees but, in fact, only one trustee, would not be entitled to s. 104(6)(b) deductions | 151 |
S4-F3-C1 - Price Adjustment Clauses
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5 July 2012 Internal T.I. 2010-0388551I7 F - Fiducie - retour de sommes
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| Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) | income distributed to daughter-in-law who in fact was not a beneficiary includible in her income under s. 105(1) but not deductible by trust under s. 104(6) | 156 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) | capital gain distributed by family trust to children and purportedly lent by them to their parents (also beneficiaries) was instead included in the parents’ income under s. 104(13) | 403 |
| Tax Topics - Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(6) | Foisy test of mental element accepted | 221 |
4 March 2013 External T.I. 2011-0428661E5 - trust payments to minor
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) | promissory note effecting payment of distribution potentially may be delivered after year end | 329 |
5 October 2012 APFF Roundtable, 2012-0453591C6 F - Prêt à une fiducie
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5 October 2012 APFF Roundtable, 2012-0453891C6 F - Price Adjustment Clause
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| Tax Topics - General Concepts - Effective Date | operation of freeze price adjustment clause depends on share actually being adjusted and can apply for s. 75(2) purposes | 327 |
28 November 2010 CTF Roundtable, 2010-0386351C6 - 2010 CTF Q#10 - T3 Reporting and 75(2)
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11 September 2006 STEP Roundtable Q. 4, 2006-0185571C6 - 2006 STEP Conference -Question 4
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2004 Ruling 2004-006020 -
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| Tax Topics - Income Tax Act - Section 149 - Subsection 149(1) - Paragraph 149(1)(c) | 40 |
7 February 2003 External T.I. 2002-012676 -
25 September 2000 External T.I. 2000-002585 -
13 October 1999 T.I. 983238
6 July 1998 T.I. 981111
May 1998 Advance Life Underwriting Round Table, No. 9807000
3 December 1997 T.I. 962276
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| Tax Topics - Income Tax Act - Section 94 - old | 41 |
10 January 1996 External T.I. 5-940686 -
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| Tax Topics - Income Tax Act - Section 94 - old | 97 |
21 August 1995 T.I. 951427 (C.T.O. "75(2) - Estate Freeze - Subscription of Shares by a Trust")
22 June 1995 T.I. 950818 (C.T.O. "Attribution of Income to a Trust")
14 June 1994 T.I. 940584 (C.T.O. "Trust Property Acquired by Mortgage")
28 April 1994 T.I. 941111 (C.T.O. "Attribution")
27 January 1994 T.I. 933257 (C.T.O. "Attribution of Income")
1994 A.P.F.F. Round Table, Q. 24
1994 I.C.A.A. Round Table, Q.4
19 May 1993 T.I. (Tax Window, No. 31, p. 13, ¶2528)
13 January 1993 T.I. (Tax Window, No. 28, p. 20, ¶2380)
11 August 1992, T.I. 921396 (May 1993 Access Letter, p. 197, ¶C56-226)
22 July 1992, T.I. 920736 (March 1993 Access Letter, p. 71, ¶C56-219)
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| Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(4.1) | 24 |
1992 A.P.F.F. Annual Conference, Q. 19 (January - February 1993 Access Letter, p. 57)
19 June 1992 T.I. 9218450 (January - February 1993 Access Letter, p. 20, ¶C56-212)
16 June 1992 External T.I. 5-920008 -
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| Tax Topics - Income Tax Regulations - Regulation 2800 - Subsection 2800(3) | 59 |
27 February 1992 T.I. (Tax Window, No. 17, p. 8, ¶1766)
91 C.R. - Q.8
90 C.R. - Q23
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| Tax Topics - Income Tax Regulations - Regulation 201 - Subsection 201(2) | 95 |
16 November 89 T.I. (April 90 Access Letter, ¶1175)
88 C.R. - Q.32
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) | 24 |
88 C.R. - Q.48
86 C.R. - Q.46
84 C.R. - Q.30
IT-369R "Attribution of Trust Income to Settlor"
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| Tax Topics - Income Tax Act - Section 248 - Subsection 248(28) | 24 |
Articles
Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Classification of Trusts for Income Tax Purposes", Chapter 2 of Canadian Taxation of Trusts (Canadian Tax Foundation), 2016.
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Carmen Thériault, "Alter Ego and Joint Partner Trust", 21 Estates, Trusts & Pensions Journal, p. 345.
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| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a) | 0 |
Darling, "Bare Trusts", 1989 Corporate Management Tax Conference, c. 8.
Saunders, "Inter Vivos Discretionary Family Trust: A Potpourri of Issues and Traps", 1993 Conference Report, pp. 37:6-14.
Subsection 75(3) - Exceptions
Cases
Labow v. Canada, 2012 DTC 5001 [at 6501], 2011 FCA 305
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| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Trust - Paragraph (a.1) | 207 | |
| Tax Topics - Income Tax Act - Section 251 - Subsection 251(1) - Paragraph 251(1)(c) | settlor with power to dismiss trustee | 76 |