Section 82

Subsection 82(1) - Taxable dividends received

See Also

Kufsky v. The Queen, 2019 TCC 254, aff'd 2022 FCA 66

In finding that a corporation should be treated as having paid dividends to its shareholder, so that CRA validly assessed the shareholder under s....

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 160 - Subsection 160(1) a dividend that had not been declared nonetheless was a dividend for tax purposes 418

Paragraph 82(1)(a)

Cases

De Groote v. The Queen, 85 DTC 5008, [1985] 1 CTC 687, [1984] CTC 687 (FCTD)

The taxpayer sold the beneficial ownership of shares to, and executed a declaration of trust in favour of, a company controlled by him and then,...

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Robson v. Minister of National Revenue, 52 DTC 1088, [1952] CTC 85, [1952] 2 S.C.R. 223

A corporation, which admittedly was seeking to effect a tax-free distribution of profits to its shareholders, sold shares of another corporation...

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See Also

Trower v. The Queen, 2019 TCC 77 (Informal Procedure)

The taxpayer, Ms. Trower, separated from her husband in 2015 and ceased to be a shareholder and director of their company (“Cove” –...

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Tax Topics - General Concepts - Effective Date a dividend by a sole director could not be backdated to when there was another director 220

Cooper v. The Queen, 2010 TCC 403, 2010 DTC 1277 [at 3934] (Informal Procedure)

Webb J. noted that the gross-up amount will increase a taxpayer's income for the purposes of assessing a 163(1) penalty, because 163(1) calculates...

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Horkoff v. The Queen, 97 DTC 621, [1996] 3 CTC 2737 (TCC)

Dividends that were purportedly paid to the taxpayers "as of" December 30, 1990 were dividend income to the taxpayers in their 1991 taxation years...

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Tax Topics - General Concepts - Effective Date "as of" dividends not effective until quantified and declared 67

C.I.R. v. Trustees of Joseph Reid (1949), 30 TC 431 (HL)

In finding that a dividend paid by a South African company out of a capital gain realized by it was "income arising from possessions out of the...

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Gresham Life Society Co., Ltd. v. Bishop (1902), 4 TC 464 (HL)

The taxpayer, a UK life insurance company which was managed in London and had foreign branch businesses, was assessed for interest and dividends...

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Tax Topics - General Concepts - Payment & Receipt no constructive receipt 210

Administrative Policy

30 January 2014 External T.I. 2013-0515761E5 F - Dividend received

A dividend of a taxable Canadian corporation owned by an individual is not paid in money but is recorded in its books as an increase in a loan...

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Tax Topics - General Concepts - Payment & Receipt book entries merely record and do not establish that a dividend was paid 175

11 December 2013 External T.I. 2013-0474161E5 - T-slips and dividend and interest

Respecting a question as to when dividends are paid and received for T5 purposes, CRA stated:

In Innovative Installation Inc. v The Queen, 2009...

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Tax Topics - General Concepts - Payment & Receipt constructive receipt 102

25 September 2013 External T.I. 2013-0488571E5 F - Repayment of a dividend

Where a taxpayer and his wife repay a portion of the dividends received by them in their 2006 taxation year, can the taxes on those dividends be...

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Tax Topics - General Concepts - Effective Date taxpayer generally cannot change his legal position through a subsequent board or shareholder resolution 154

6 October 2005 External T.I. 2005-0146061E5 F - Coop de travailleurs actionnaire - montants versés

CRA indicated that interest received by a worker on preferred share shares held in a workers shareholder cooperative was a taxable dividend...

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Tax Topics - Income Tax Act - Section 136 - Subsection 136(2) workers shareholder cooperative qualified 108
Tax Topics - Income Tax Act - Section 135 - Subsection 135(4) - Allocation in Proportion to Patronage patronage dividend based on volume of work performed 108

Articles

Kevyn Nightingale, John Sorensen, "Backdating of Dividends", Tax Topics (Wolters Kluwer), No. 2392, January 11, 2018, p. 1

CRA distinction between evidencing and recharacterizing a transaction (p. 3)

[T]he CRA recognizes that a transaction may be "papered" after the...

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Tax Topics - General Concepts - Effective Date 362

Subsection 82(2)

Administrative Policy

15 June 2021 STEP Roundtable Q. 5, 2021-0883001C6 - Income Attribution from AET

The settlor of an alter ego trust contributes to the trust an interest in a limited partnership that generates business income. CRA indicated...

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Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) "second generation income" is not subject to s. 75(2) attribution 453
Tax Topics - Income Tax Act - Section 248 - Subsection 248(5) substituted property rule does not apply to "second generation income" 128

Subsection 82(3)

Administrative Policy

23 August 2021 Internal T.I. 2020-0856081I7 - Interaction of subsection 82(3) and section 120.4

CRA noted that “[g]enerally, there is an incentive for the higher income spouse to elect under subsection 82(3) as the increase in the spousal...

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Tax Topics - Income Tax Act - Section 120.4 - Subsection 120.4(1) - Excluded Shares - Paragraph (b) s. 82)3) deeming applies before application of TOSI rules 259