Section 97

Subsection 97(1) - Contribution of property to partnership

Administrative Policy

Income Tax Regulation News, Release No. 3, 30 January, 1995 under "Use of a Partner's Assets by a Partnership"

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Subsection 97(2) - Rules if election by partners

Cases

R & S Industries Inc. v. Canada (National Revenue), 2016 FC 275

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Tax Topics - Other Legislation/Constitution - Federal - Federal Court Act - Section 18.1 - Subsection 18.1(2) extension not granted due to unexplained lengthy delay and lack of substantive merit 555

Canada v. Pinot Holdings Ltd., 99 DTC 5772 (FCA)

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Tax Topics - General Concepts - Substance 86

Continental Bank Leasing Corp. v. The Queen, 96 DTC 6355 (FCA), rev'd 98 DTC 6501 (SCC)

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Tax Topics - General Concepts - Sham no sham if docs reflect legal reality 86
Tax Topics - General Concepts - Tax Avoidance no sham if docs reflect legal reality 86

Haro Pacific Enterprises Ltd. v. The Queen, 90 DTC 6583 (FCTD)

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See Also

R & S Industries Inc. v. The Queen, 2017 TCC 75

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 171 - Subsection 171(1) Tax Court had jurisdiction to consider change to description of consideration in s. 97(2) election form 178

Oxford Properties Group Inc. v. The Queen, 2016 TCC 204

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) no abuse in using 88(1)(d) bump to avoid s. 100 after 3-year s. 69(11) period 537
Tax Topics - Income Tax Act - Section 248 - Subsection 248(10) subsequent sale part of series as it utilized the benefit of previous LP packaging transactions 371
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(d) purpose: to push down ACB of shares of sub to qualifying non-depreciable property 474
Tax Topics - Statutory Interpretation - Interpretation Act - Subsection 45(2) subsequent amendment shed light on scope of previous version 99
Tax Topics - Income Tax Act - Section 100 - Subsection 100(1) S. 100 operates only on outside basis gain 278
Tax Topics - Income Tax Act - Section 69 - Subsection 69(11) Parliament provided safe harbour for sales after 3 years 197
Tax Topics - Income Tax Act - Section 98 - Subsection 98(3) - Paragraph 98(3)(c) purpose: to preserve high outside basis through push down 285

Ceco Operations Ltd. v. The Queen, 2006 DTC 3006, 2006 TCC 256

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Vantem Holdings Ltd. v. The Queen, 98 DTC 1335 (TCC)

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MDS Health Group Ltd. v. The Queen, 96 DTC 1324 (TCC), aff'd 97 DTC 5009 (FCA)

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Administrative Policy

December 2014 CTF Roundtable, Q. 6

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2014 Ruling 2013-0505431R3 - XXXXXXXXXX

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) public trading in dividend recipient does not engage exclusion in s. 55(2)(a)(iv) 776
Tax Topics - Income Tax Act - Section 66.2 - Subsection 66.2(5) - Canadian development expense - Paragraph (e) transfer of roylaty from partly-owned partnership 429
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) delay in filing articles of dissolution 47

29 July 2009 External T.I. 2008-0297011E5 F -

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition no disposition if new partnerships interests exchanged for old interests are not in totality substantially distinguishable 201

3 December 2003 External T.I. 2003-004601 -

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Tax Topics - Income Tax Act - Section 87 - Subsection 87(1) 26

9 June 2003 External T.I. 2003-000483 -

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2001 Ruling 2001-007094 -

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17 November 1999 T.I. 990126

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1999 Ruling 993226

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7 February 1997 External T.I. 5-970224 -

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24 August 1992 T.I. (Tax Window, No. 23, p. 13, ¶2125)

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89 C.R. - Q.36

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87 C.R. - Q.5

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IT-338R "Partnership Interests - Effects on Adjusted Cost Base Resulting from the Admission or Retirement of a Partner"

IT-457R "Election by Professionals to Exclude Work in Progress from Income" under "Transfers of Work in Progress"

Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 98 - Subsection 98(3) 9

Articles

M. O'Brien, "The 97(2) Rollover - Basic Rules and New Developments", Business Vehicles, Vol IV, No. 2, 1998, p. 186.

McMullen, "Tax Considerations in the Reorganization of Partnerships", 1994 Corporate Management Tax Conference Report, c. 6.

Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(21) 0

Bernstein, "Partnership Versus Joint Company", Tax Profile, March 13, 1990

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 85 - Subsection 85(2) 28

Accounting Pronouncements

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Subsection 97(3) - Election not available — section 88

Administrative Policy

16 November 1990 T.I. (Tax Window, Prelim. No. 2, p. 19, ¶1051)

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