Subsection 230(1)
Sale
Administrative Policy
12 November 2019 External T.I. 2019-0822161E5 F - T5008 Statement of Securities Transactions
During the 2019 calendar year, Mr. X withdrew the minimum amount (as defined in subsection 146.3(1)) from his RRIF ($5,000 – so that a T4RIF...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 230 - Subsection 230(2) | transfer of listed shares from taxable brokerage account to individual’s TFSA did not generate T5008 reporting requirement | 65 |
Subsection 230(2)
See Also
Chen v. TD Waterhouse Canada Inc., 2020 ONSC 1477
The taxpayer, Mr. Chen, who maintained margin accounts with TD Waterhouse, had employment income of only $9,655 in 2009 and sustained a net loss...
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|---|---|---|
| Tax Topics - General Concepts - Negligence, Fiduciary Duty and Fault | any loss of taxpayer was attributable to his failure to file his return | 272 |
Administrative Policy
22 January 2020 External T.I. 2014-0559281E5 F - T5008
CRA responded to various questions respecting the completion of Box 20 of Form T5008 in the context of:
- the sale (or closing out by the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 49 - Subsection 49(1) | writing of call option (with deemed nil ACB) is reported as having nil “cost” on T5008 | 99 |
| Tax Topics - Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(i) | option writer can deduct its expenses from deemed s. 49(1) proceeds | 125 |
| Tax Topics - Income Tax Act - Section 9 - Computation of Profit | cost of short sale is FMV of borrowed shares | 59 |
12 November 2019 External T.I. 2019-0822161E5 F - T5008 Statement of Securities Transactions
CRA considers that a contribution of shares of a public corporation is not a “sale” of those securities for purposes of Reg. 230....
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|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 230 - Subsection 230(1) - Sale | a contribution of shares to a TFSA is not a “sale” for Reg. 230 purposes | 251 |
RC4268 Handbook on Securities Transactions, A Summary of the Reporting Requirements Under the Income Tax Regulations
FX
Complete all T5008 slips in Canadian currency. Use the exchange rate that was in effect at the time of the transaction or an average rate that...
2 July 2009 External T.I. 2009-0319211E5 F - T5008 : Contrat d'opération à terme (Futures)
A client of a brokerage goes long a futures contract on a particular Government of Canada bond series and subsequently closes out the position by...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Computation of Profit | gain or loss on futures contract determined when closed out on establishing opposite position and not affected by maintenance margin | 106 |
2 October 2001 External T.I. 2001-0102655 F - T5008 - AGENT DE L'ACHETEUR
In connection with finding that a trust company acting as agent for a purchaser of stock-exchange shares pursuant to a public offering need not...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 230 - Subsection 230(6) | purchase made as agent does require filing a T5008 | 74 |
Forms
T5008 "Statement of Securities Transactions"
T5008SUM "Return of Securities Transactions": Box 19 - Face amount...Leave this box blank if the...
Subsection 230(3)
Administrative Policy
21 February 2017 External T.I. 2016-0676961E5 - T5008
Page 7 of… RC4268) (the “Handbook”) states…:
The purchase (for your own account), sale, redemption, acquisition, or cancellation of units...
8 November 2016 External T.I. 2016-0673361E5 - Section 230 of the Regulations
Where mutual fund securities were held in nominee form by a dealer, are both the dealer and the fund required to issue T5008s under Regs. 230(3)...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 230 - Subsection 230(6) | 230(3) trumped by 230(6) | 73 |
Subsection 230(6)
Administrative Policy
8 November 2016 External T.I. 2016-0673361E5 - Section 230 of the Regulations
Where mutual fund units (or shares) are held in nominee form with an IIROC dealer or through a mutual fund dealer, after redemption of the units...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 230 - Subsection 230(3) | only investment dealer or fund manager generally expected to report MFT fund unit redemptions on T5008s | 167 |
17 December 2001 External T.I. 2001-0101675 F - T5008 NON-RESIDENT
Regarding whether Reg. 230(6) applies to non-resident agents, CCRA stated:
[T]he purpose of section 230 of the Regulations is to provide the...
2 October 2001 External T.I. 2001-0102655 F - T5008 - AGENT DE L'ACHETEUR
In connection with finding that a trust company acting as agent for a purchaser of stock-exchange shares pursuant to a public offering need not...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 230 - Subsection 230(2) | trader or dealer is not required to file a T5008 re purchases made for clients | 81 |