Section 93

Subsection 93(1) - Election re disposition of share of foreign affiliate

Cases

Terrador Investments Ltd. v. Canada, 99 DTC 5358 (FCA)

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Locations of other summaries Wordcount
Tax Topics - Statutory Interpretation - Interpretation/Definition Provisions reasonable implication of deemed fiction 72

Administrative Policy

5 September 2018 Internal T.I. 2017-0698241I7 - Interpretation of subsection 93(4)

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 93 - Subsection 93(4) FA sub shares acquired “on” disposition of FA parent shares occurring on completion of liquidation and dissolution process 232
Tax Topics - Income Tax Act - Section 93 - Subsection 93(2.01) s. 93(2.01) applied to capital loss resulting from s. 94(3) basis bump 176

14 March 1991 Memorandum (Tax Window, No. 1, p. 21, ¶1143)

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Articles

Paul Dhesi, Korinna Fehrmann, "Integration Across Borders", Canadian Tax Journal, (2015) 63:4, 1049-72

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Eric Lockwood, Maria Lopes, "Subsection 88(3): Deferring Gains on Liquidation and Dissolution", Canadian Tax Journal (2013) 61:1, 209-28, p. 209

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Hetel Kotecha, "The Subsection 93(1) Election - Strategy and Pitfalls", International Tax Planning, 2003, p. 792.

Ron Nobrega, "Technical Bill Amendments Affecting Foreign Affiliate Share Transfers", Taxation Law, Ontario Bar Association, Vol. XIII, No. 3, p. 1.

Schwartz, "Tax-Free Reorganizations of Foreign Affiliates", 1984 Canadian Tax Journal, November-December 1984, p. 1039.

Bradley, "Foreign Affiliates: A Technical Update", 1990 Conference Report, c. 43

Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 91 - Subsection 91(5) 80

Forms

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Subsection 93(1.3)

Articles

Tina Korovilas, Drew Morier, "Non-Corporate Vehicles in the Foreign Affiliate Context", 2018 Conference Report (Canadian Tax Foundation), 20:1 – 114

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 96 122
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(1) 111
Tax Topics - General Concepts - Ownership 245
Tax Topics - Income Tax Regulations - Regulation 5907 - Subsection 5907(11.2) - Paragraph 5907(11.2)(b) 181
Tax Topics - Income Tax Act - Section 90 - Subsection 90(1) 99
Tax Topics - Income Tax Act - Section 93.1 - Subsection 93.1(2) - Paragraph 93.1(2)(a) 120
Tax Topics - Income Tax Act - Section 93.1 - Subsection 93.1(2) - Paragraph 93.1(2)(d) - Subparagraph 93.1(2)(d)(i) 80
Tax Topics - Income Tax Regulations - Regulation 5901 - Subsection 5901(2) - Paragraph 5901(2)(b) 91
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Excluded Property - Paragraph (e) 155
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Excluded Property - Paragraph (a) 368
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Excluded Property - Paragraph (c) 290
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(y) 64
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph. 95(2)(z) 332
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(a) - Subparagraph 95(2)(a)(ii) - Clause 95(2)(a)(ii)(B) - Subclause 95(2)(a)(ii)(B)(II) 169
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(a) - Subparagraph 95(2)(a)(ii) - Clause 95(2)(a)(ii)(D) 688
Tax Topics - Income Tax Act - Section 94 - Subsection 94(1) - Exempt Foreign Trust - Paragraph (h) - Subparagraph (h)(ii) - Clause (h)(ii)(C) 615

Subsection 93(1.11)

Administrative Policy

2017 Ruling 2017-0693751R3 - Transfer of Shares of a Foreign Affiliate

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 69 - Subsection 69(11) - Paragraph 69(11)(b) s. 69(11)(b) inapplicable to transfer of FA to new FA who will use the excluded property exemption 296
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares affiliated transfer of shares at gain equal to exempt surplus did not cause loss of capital property status 81

2016 Ruling 2016-0630761R3 - Transfer of Shares

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Locations of other summaries Wordcount
Tax Topics - Income Tax Regulations - Regulation 5901 - Subsection 5901(2) - Paragraph 5901(2)(b) stated capital distribution from FA treated as pre-acq dividend 184
Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) no conferral of benefit where CRA required sideways transfer to occur at less than FMV 211

Subsection 93(2.01) - Loss limitation on disposition of share of foreign affiliate

Administrative Policy

5 September 2018 Internal T.I. 2017-0698241I7 - Interpretation of subsection 93(4)

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 93 - Subsection 93(4) FA sub shares acquired “on” disposition of FA parent shares occurring on completion of liquidation and dissolution process 232
Tax Topics - Income Tax Act - Section 93 - Subsection 93(1) no s. 93 election available where ACB bump under s. 94(3) eliminated gain before application of s. 93(1) 137

22 June 2016 Internal T.I. 2016-0632821I7 F - 93(2.01) & Capital Contribution

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(5) ordinary meaning of “substituted” 113
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(a) - Subparagraph 95(2)(a)(ii) - Clause 95(2)(a)(ii)(B) inter-affiliate loan generating deemed active business funded out of an interest-free loan from Canco 103

26 May 2016 IFA Roundtable Q. 7, 2016-0642121C6 - 93(2.01) & Capital Contribution

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Words and Phrases
substituted

15 August 2014 Internal T.I. 2014-0538591I7 - FX losses on CFA wind-up

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.6) s. 40(3.6) does not apply to winding-up 153

24 November 2013 CTF Roundtable, 2013-0508161C6 - Loss on disposition of shares

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 112 - Subsection 112(3) loss preservation transactions which avoid s. 112(3) stop-loss rule 263
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) loss preservation transactions which did not satisfy the s. 93(2.01) requirements 201

25 September 2013 Internal T.I. 2013-0476311I7 F - 93(2), 93(2.01) - Share substituted

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(5) s. 248(5) requirement for a legal exchange is engaged by a reference to a substituted share 187

23 May 2013 IFA Round Table Q. 3

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10 May 2013 Internal T.I. 2012-0464901I7 - 93(2), 93(2.01) - Share substituted

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Articles

Didier Fréchette, Ryan Rabinovitch, "Current Issues Involving Foreign Exchange", 2015 CTF Annual Conference paper

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Nikolakakis, "Foreign Exchange Fluctuations: Comprehensive Rules are Needed", Corporate Finance, Vol. V, No. 1, 1997.

Subsection 93(2.1)

Subsection 93(4)

Administrative Policy

5 September 2018 Internal T.I. 2017-0698241I7 - Interpretation of subsection 93(4)

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Words and Phrases
on
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 93 - Subsection 93(2.01) s. 93(2.01) applied to capital loss resulting from s. 94(3) basis bump 176
Tax Topics - Income Tax Act - Section 93 - Subsection 93(1) no s. 93 election available where ACB bump under s. 94(3) eliminated gain before application of s. 93(1) 137