Cases
RCI Environnement Inc.(Centres de Transbordement et de Valorisation Nord-Sud Inc.) v. The Queen, 2008 DTC 4982, 2007 TCC 647, aff'd , 2009 DTC 5940, 2008 FCA 419
The taxpayer made a series of demands for parties to a non-compete agreement (that it had received in connection with its acquisition of a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(9) | no prejudice to taxpayer in amending pleadings | 77 |
| Tax Topics - Income Tax Act - Section 9 - Compensation Payments | negotiated lump sum received for cancellation of non-compete was for diminution in value of goodwill | 61 |
Survivance v. Canada, 2007 DTC 5096, 2006 FCA 129
Shares of a corporation ("Clairvoyants") that the taxpayer tendered to a bid for all the shares of Clairvoyants were not disposed of by it until...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 256 - Subsection 256(9) | 94 | |
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(a) | asymmetry in s. 69(1)(a) language | 144 |
| Tax Topics - Statutory Interpretation - Interpretation/Definition Provisions | deemed acquisition of control implied loss of control | 45 |
Degeer v. Canada, 2001 DTC 5385, 2001 FCA 152
By an unregistered deed the taxpayer purported to transfer a farm that previously had been acquired by him from his parents back to his parents...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | self-cancelling double title transfers | 119 |
Anderson Estate v. The Queen, 95 DTC 758 (TCC)
The sister-in-law of the deceased who had lived with him for more than 50 years and worked on his farm venture jointly with him for most of that...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Disposition - Paragraph (e) | 93 | |
| Tax Topics - Income Tax Act - Section 70 - Subsection 70(5) | 93 |
Stursberg v. The Queen, 93 DTC 5271, [1993] 2 CTC 76 (FCA)
The other partners of the partnership consented to a reduction in the taxpayer's partnership interest from 40% to 15%, and to an increase in the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(c) - Subparagraph 53(2)(c)(v) | 172 |
Mintenko v. The Queen, 88 DTC 6537, [1989] 1 CTC 40 (FCTD)
The taxpayer transferred legal title to land to the purchaser in 1980 in order to accommodate the requirement of the purchaser's bank that the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 44 - Subsection 44(1) | 36 | |
| Tax Topics - Income Tax Act - Section 54 - Principal Residence | 89 | |
| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate | farm activity kept separate from trading activity | 124 |
Johnstone v. The Queen, 88 DTC 6032, [1988] 1 CTC 48 (FCTD)
An agreement for the sale of a strata unit was not concluded until 1981 and its disposition accordingly did not occur in 1980. Moreover, even if...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate | 53 |
Finochio v. The Queen, 87 DTC 5228, [1987] 1 CTC 313 (FCTD)
A sale of real estate was found to have closed in 1977 notwithstanding that a defect in title was not remedied until 1978. Taxable income from the...
De Graaf v. The Queen, 85 DTC 5280, [1985] 1 CTC 374 (FCTD)
A lot which was transferred to a company that was beneficially owned by the plaintiff had not thereby been disposed of by the plaintiff because...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 163 - Subsection 163(2) | 71 | |
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(e) | amounts paid into court re future liens | 182 |
Hughes v. The Queen, 84 DTC 6110, [1984] CTC 101 (FCTD)
An apartment building, which was held to have been acquired for investment purposes, was also held to have been later converted from capital...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Computation of Profit | conversion to inventory when application for strata conversion made | 173 |
Reilly Estate v. The Queen, 84 DTC 6001, [1984] CTC 21 (FCTD)
A "disposition" of land occurs when the parties have entered into an enforceable agreement for sale and purchase. A disposition of land thus...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(i) | careful but erroneous view of accountant was not carelessness | 141 |
| Tax Topics - Statutory Interpretation - Interpretation Bulletins, etc. | 32 |
Gameroff v. The Queen, 83 DTC 5013, [1982] CTC 411 (FCTD), rev'd 86 DTC 6023, [1986] 1 CTC 169 (FCA)
A purchaser of real property forfeited a deposit of $65,000 when it failed to complete the purchase. It was held that the taxpayer vendors...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate | 63 |
See Also
Leonard v. The Queen, 2021 TCC 33, rev'd 2022 FCA 195
Following default by a Hawaiian developer (“Anderson”) on mortgage debt owing by him to a U.S. bank on two adjoining lots, the taxpayer...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss - Debt | loss on mortgage that was acquired in order to acquire the underlying property under foreclosure proceeding on income account was also from an adventure | 347 |
| Tax Topics - Income Tax Act - Section 171 - Subsection 171(1) | Court not bound by an erroneous admission by one of the parties | 115 |
| Tax Topics - Income Tax Act - Section 9 - Timing | cost of mortgage debt acquired as adventure not deductible when expended | 53 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition - Paragraph (b) - Subparagraph (b)(i) | on a foreclosure, the taxpayer disposed of his mortgage, even though the debt it secured remained outstanding | 429 |
| Tax Topics - General Concepts - Evidence | Manitoba law, being where the Tax Court hearing was held, was the lex fori governing the mortgage foreclosure proceeding at issue regarding a U.S. property | 178 |
Devon Canada Corporation v. The Queen, 2018 TCC 170
Two public-company predecessors by amalgamation of the taxpayer made cash payments for the surrender by employees of their options previously...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 14 - Subsection 14(5) - Eligible Capital Expenditure | payments made to target’s employees for surrendering their options on target’s acquisition were mostly deductible by it | 309 |
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e) - Subparagraph 20(1)(e)(i) | quaere whether “sale” includes a sale to a 3rd party | 177 |
| Tax Topics - Income Tax Act - Section 111 - Subsection 111(5.2) | stock option surrender payments of target deductible under s. 111(5.2) | 62 |
| Tax Topics - Income Tax Act - Section 54 - Adjusted Cost Base | "cost" implies the acquisition of an asset | 172 |
Ellison v Sandini Pty Ltd, [2018] FCAFC 44
On September 21, 2010 the Family Court made orders by consent between Mr and Ms Ellison that joined Sandini Pty Ltd (“Sandini”) as trustee for...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | family court order requiring the transfer of a portion of a larger bloc of shares likely did not result in a change in their beneficial ownership as the shares likely were not fungible | 1019 |
| Tax Topics - Income Tax Act - Section 73 - Subsection 73(1) - Paragraph 73(1)(b) | subjective belief of parties that family court orders were efficacious did establish that a share transfer to a spouse occurred “because of” them | 419 |
| Tax Topics - General Concepts - Evidence | a court order could not be interpreted in light of extrinsic evidence | 102 |
Buzzoni, Executor of Kamhi Estate v. Commissioners for Revenue and Customs, [2012] UKUT 360 (Tax and Chancery Chamber)
The deceased, who had held a flat under a 100 year lease, entered into an underlease with a nominee and settled a trust for her children with the...
Fourney v. The Queen, 2012 DTC 1019 [at 2575], 2011 TCC 520
Seeking to protect herself from being sued by her brother, the taxpayer transferred title to all her real properties for no consideration to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Agency | 191 | |
| Tax Topics - General Concepts - Corporate/Separate Personality | 257 | |
| Tax Topics - General Concepts - Ownership | presumption of resulting trust where property transfer for no consideration | 257 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(1) | bare trust arising on creditor-proofing transfer | 257 |
| Tax Topics - Income Tax Act - Section 163 - Subsection 163(2) | line codes in electronic filings were incomprehensible to taxpayer | 300 |
Dubois c. La Reine, 2007 DTC 1534, 2007 TCC 461 (Informal Procedure)
Paris J. indicated, in obiter dicta at para. 22, that legal expenses incurred by the taxpayer in connection with her cancellation of a contract to...
Williams v. The Queen, 2005 DTC 1228, 2005 TCC 558
The taxpayer was found to continue to be the beneficial owner of shares that he transferred to a trust - of which he was one of the three trustees...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | sole beneficiary was beneficial owner | 277 |
Morasse v. The Queen, 2004 DTC 2435, 2004 TCC 239 (Informal Procedure)
The taxpayer, who held American Depositary Receipts for a Mexican public company (Telmex) became the owner of an equal number of shares of another...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 86.1 - Subsection 86.1(2) | 105 | |
| Tax Topics - Income Tax Act - Section 90 - Subsection 90(1) | 158 |
Smedley v. The Queen, 2003 DTC 501
O'Connor T.C.J. accepted the submissions of the Minister that under a contract between the taxpayers and a local mill for the sale of fallen logs...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | no transfer of beneficial ownership of logs until incidents of ownership had passed | 102 |
General Electric Capital Equipment Finance Inc. v. Canada, 2002 DTC 6734, 2001 FCA 392
Following assessments of withholding tax on interest on notes owing by the taxpayer, the notes were amended to decrease the principal owing (by...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Subparagraph 212(1)(b)(vii) | material changes produced new obligation | 187 |
Manrell v. The Queen, 2002 DTC 1222 (TCC), rev'd 2003 DTC 5225, 2003 FCA 128
The taxpayer and corporations controlled by him disposed of shares of three corporations engaged in manufacturing plastic moulds and caps and...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Disposition - Paragraph (e) | 74 |
Barnabe Estate v. Minister of National Revenue, 98 DTC 1824, [1998] 3 CTC 2201 (TCC)
The deceased taxpayer met with his accountant, agreed with a suggestion that his farm business should be transferred to a newly-incorporated...
Quincaillerie Laberge Inc. v. The Queen, 95 DTC 155 (TCC)
A payment of $575,000 to the taxpayer by a debtor in default in consideration for an extension of the due date of the loan and the taxpayer's...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) | amount received for loan extension | 156 |
In re Barne Crown Ltd., [1995] 1 WLR 147 (Ch. D.)
The Court found that in collecting payment upon a cheque from a third party, no disposition of the property of the customer takes place in favour...
Sandner v. MNR, 93 DTC 901, [1993] 2 CTC 2193 (TCC)
The taxpayers did not realize allowable business investment losses pursuant to their guarantees of obligations of a corporation where in the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(c) | 83 |
Foreman v. MNR, 93 DTC 7, [1992] 2 CTC 2621 (TCC)
In finding that the repayment of a promissory note held by an RRSP constituted a disposition by it of a non-qualified investment for purposes of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(6) | 54 |
Larose v. MNR, 92 DTC 2055, [1992] 2 CTC 2339, [1992] 1 CTC 2667
Before finding that the taxpayer had disposed of buildings, Tremblay TCJ stated (at para. 4.03.10) that under the English version of s. 248(3)...
Charron v. MNR, 91 DTC 81, [1990] 2 CTC 2609 (TCC)
The taxpayer was held to have disposed of the goodwill of his business to his sons when during the Christmas shutdown he advised his family...
National Trust Co. v. Mead, [1990] 5 WWR 455, [1990] 2 S.C.R. 410
The execution by an individual ("Mead") of an assumption of liability agreement in favour of a mortgage lender ("National Trust"), with Mead...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) | tests for novation | 151 |
Niagara Air Bus Inc. v. Cameran (1989), 69 OR (2d) 717 (HCJ.)
Before finding that an agreement of the parties to make notes payable on demand rather than upon a date certain did not constitute rescission of...
Scott Estate v. The Queen, 88 DTC 6012 (FCTD)
Reed, J. stated obiter that she did not think that the commutation of an annuity constituted a new contract.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Annuity | 53 |
Kirby v. Thorn EMI plc, [1987] BTC 462 (C.A.)
The taxpayer entered into an agreement with General Electric to cause its wholly-owned subsidiary to sell to General Electric the shares of three...
Magnavox Electronics Co. Ltd. v. Hall, [1985] BTC 188 (HC), aff'd [1986] BTC 455 (C.A.)
A purported variation of a contract for the sale by the taxpayer company of land in fact led to the formation of a new contract since the original...
Anders Utkilens Rederi A/S v. Keller Bryant Transport Co. Ltd., [1985] BTC 131 (HC)
An action by the plaintiff against the defendant was compromised by the defendant agreeing to sell its business premises forthwith and divide the...
Zim Properties Ltd. v. Procter, [1985] BTC 42 (HC)
A right to bring an action to seek to enforce a claim respecting alleged negligence of the taxpayer's solicitors, which right could be turned to...
Greiner v. The Queen, 84 DTC 6073, [1984] CTC 92 (FCA)
Stone J.A. found that a surrender of stock option rights by the taxpayer to his employer corporation came within the phrase "otherwise disposed...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Evidence | 31 | |
| Tax Topics - Income Tax Act - Section 7 - Subsection 7(1) - Paragraph 7(1)(b) | 201 |
The Queen v. Harvey, 83 DTC 5098, [1983] CTC 63 (FCTD)
The taxpayer was found to have disposed of his stock option rights to a corporation for purposes of s. 7(1)(b) when he agreed to surrender them...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 7 - Subsection 7(1) - Paragraph 7(1)(b) | 94 |
Marren v. Ingles (1980), 54 TC 76, [1980] UKHL TC_54_76 (HL)
The taxpayer sold shares of a private company for a fixed price plus the right to receive an amount equal to one-half of any appreciation of the...
O'Brien v. Benson's Hosiery (Holdings) Ltd. (1979), 53 TC 241 (HL)
A payment of 50,000 pounds by a marketing director to his employer, the taxpayer, in consideration of his release from his service contract was...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | 174 |
Dobell v. The Queen, 77 DTC 5316, [1977] CTC 458 (FCTD)
A disposition of mineral claims for the purposes of s. 59(3) was found to occur when an agreement for their sale was concluded.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Evidence | 21 |
Vauban Productions v. The Queen, 75 DTC 5371, [1975] CTC 511 (FCTD), aff'd 79 DTC 5186, [1979] CTC 262 (FCA)
The taxpayer transferred to the CBC certain film rights. Since the taxpayer did not transfer all its rights respecting the films to the CBC, the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(z) | 55 | |
| Tax Topics - Other Legislation/Constitution - Federal - Official Languages Act - Section 13 | 29 | |
| Tax Topics - Treaties - Income Tax Conventions | 23 | |
| Tax Topics - Treaties - Income Tax Conventions - Article 12 | 47 | |
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(d) | royalties normally based on user | 220 |
Jenkin R. Lewis & Son Ltd. v. Kerman, [1970] 3 All ER 414 (CA)
S.24(2)(g) of the Agricultural Holdings Act 1948 (U.K.) gave a landlord of an agricultural holding, such as the plaintiff, the right to determine...
Smith v. Lewis, [1902] 2 Ch. 667
An authorization by a testator for his trustees to retain any part of his estate "in its present form of investment" permitted his trustees to...
Administrative Policy
20 March 2024 Internal T.I. 2023-0973071I7 - DeFi deposit and rewards
The taxpayer, a resident individual, deposited two types of crypto-assets (the “Deposited Tokens”) into liquidity pools in a crypto pooling...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Computation of Profit | deposit of crypto into a pooling vehicle for receipt tokens, and a subsequent exchange of the receipt tokens for underlying tokens, are barter exchanges under IT-490 | 244 |
2023 Ruling 2022-0958681R3 - Conversion to open-end unit trust
CRA ruled that the conversion of a listed REIT from a a closed-end unit trust under s. 108(2)(b) to an open-end unit trust under s. 108(2)(a)...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(a) | conversion to s. 108(2)(a) unit trust through addition of retraction right/ limitation placed on term of any redemption notes | 425 |
| Tax Topics - Income Tax Act - Section 97 - Subsection 97(2) | description of use of exchangeable unit structure by REIT | 146 |
4 June 2024 STEP Roundtable Q. 8, 2024-1007841C6 - Disposition of Property Held in a Bare Trust
Even before taking into account the introduction of s. 150(1.2), s. 150(1.1)(b)(ii) required a trust which disposed of capital property in a year...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 150 - Subsection 150(1.1) - Paragraph 150(1.1)(b) - Subparagraph 150(1.1)(b)(ii) | a disposition by a bare trust, or the trust’s winding-up, generally is not a disposition under the ITA | 302 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition - Paragraph (e) | notwithstanding (b)(v) of “disposition,” the winding up of a bare trust does not cause a disposition of its property | 107 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition - Paragraph (b) - Subparagraph (b)(v) | (b)(v) inapplicable to the winding-up of a bare trust | 48 |
2023 Ruling 2022-0950461R3 - Continuation of a Bermudian LP to a Delaware LP
Background
The Partnership is an exempted limited partnership under the Exempted Partnership Act 1992 (Bermuda) (the “EPA”), the Limited...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 96 | Bermuda partnership that was domesticated under the DRULPA continued as a partnership | 90 |
2 November 2023 APFF Roundtable Q. 10, 2023-0993641C6 - APFF - Congrès 2023 Q.10 disposition de cryptomonnaie
In return for depositing the taxpayer’s bitcoins with a centralized cryptoasset exchange and lending platform, the latter offers the taxpayer a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | bitcoin platform likely acquired ownership of bitcoin deposited with it | 174 |
1 May 2023 External T.I. 2021-0921101E5 - XXXXXXXXXX
A corporation (the DLCC), which had been operating a club for the purposes of pleasure and recreation of the members and of the community was, as...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 149 - Subsection 149(1) - Paragraph 149(1)(l) | s. 149(1)(l) NPO can have share capital, but may not so qualify even if it satisfies the CNFPCA | 313 |
| Tax Topics - Income Tax Act - Section 51 - Subsection 51(1) | s. 51 inapplicable to conversion of share corp to non-share corp | 191 |
| Tax Topics - Income Tax Act - Section 149 - Subsection 149(12) | “rentals” not reduced by expenses | 21 |
2021 Ruling 2020-0862431R3 F - Variation of a trust deed and addition of new beneficiaries
Background
Ms. X was the “first trustee” (with special rights regarding the appointment or replacement, but not removal, of trustees) of a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(b) | addition of corporate beneficiaries to discretionary trust resulted in a disposition by existing family beneficiaries, but not in the receipt by them of proceeds of disposition | 281 |
2021 Ruling 2021-0916821R3 F - Continuance corporation from CBCA to Co-operative
A corporation incorporated under the CBCA (Opco) was continued as a co-operative under the Co-operative Corporations Act (Ontario), so that...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 86 - Subsection 86(1) | application of s. 86 reorganization rule to a continuance from the CBCA to a Co-operatives Act | 143 |
28 June 2022 External T.I. 2022-0933661E5 - Meaning of Disposition
Pursuant to s. 54 of a Business Corporations Act [see s. 54 of the OBCA] certificated securities (represented by share certificates) of a...
18 November 2021 External T.I. 2021-0917841E5 F - Traitement fiscal d’un revenu d’une emphytéose
In 2013-0487791E5 F, CRA reversed its position in 2012-0472101E5 F and indicated that it now considered that the entering into of an emphyteutic...
2020 Ruling 2019-0819871R3 - Loss Consolidation Involving Canadian Branch
A US parent indirectly holds a profitable Canadian corporation (Canco1), and a US subsidiary (USco1) that has been carrying on a branch business...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 87 - Subsection 87(2.1) | utilization of the Canadian branch losses of a US affiliate through its continuance to Canada and amalgamation with Profitco | 505 |
16 December 2019 Roundtable, 2019-0828571C6 - Disposition
A number of jurisdictions have been working on developing risk-free-rates (RFRs) to replace the existing interbank offering rates (IBORs) used as...
2020 Ruling 2019-0799981R3 - Disposition – Reclassification and Stock Split
Current structure
USco is a US-resident corporation that is subject to tax in Canada and the US (in each case, as a regarded corporation). USco...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(1) | no s. 116 certificate required for simultaneous consolidation of multiple identical series into one series, and stock split | 86 |
2019 Ruling 2018-0779221R3 F - Dissolution d'une association ouvrière
A union that was eligible for the s. 149(1)(k) exemption and that had been collecting union, ceased to be the accredited bargaining agent for the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 149 - Subsection 149(1) - Paragraph 149(1)(k) | winding-up distribution paid to union members treated as proceeds of disposition rather than as dues reimbursement | 172 |
2017 Ruling 2016-0679281R3 - subsections 84(4.1) and 86(1)
A Canadian public corporation (Parent”) wished to spin off, to its shareholders, the shares of a Canadian Newco indirectly holding a U.S....
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 86 - Subsection 86(1) | pubco spin-off of a U.S. business using s. 86 | 318 |
29 May 2018 STEP Roundtable Q. 16, 2018-0744121C6 - Impact of check the box election
Where a US LLC makes an election to be treated as a corporation for US tax purposes, will the making of the election have Canadian tax...
2017 Ruling 2016-0660321R3 - Reorg of REIT to simplify multi-tier structure
The Declaration of Trust of a Canadian REIT (the “Fund”) will be amended to provide for the consolidations of its units following s. 132.2...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 132.2 - Subsection 132.2(1) - Qualifying Exchange | use of the s.132.2 merger and a renunciation of most of the units otherwise issuable on the merger in order to eliminate a REIT corporate subsidiary held through an LP and a sub-trust | 1006 |
| Tax Topics - Income Tax Act - 101-110 - Section 107.4 - Subsection 107.4(2) - Paragraph 107.4(2)(a) | s. 107.4 transfer of sub-trust’s assets to sister MFT trust | 459 |
| Tax Topics - Income Tax Act - Section 98 - Subsection 98(3) | drop down of LP 1 into LP 2 followed by immediate s. 98(3) wind-up of LP 1 into LP 2 and GP of LP1, followed by immediate taxable sale by GP to LP 2 | 146 |
| Tax Topics - Income Tax Act - Section 246 - Subsection 246(1) | no taxable benefit where wholly-owned partnership renounces the right to have consideration paid for the redemption of its shares in its limited partner (a mutual fund corporation) | 325 |
| Tax Topics - Income Tax Act - Section 132.2 - Subsection 132.2(3) - Paragraph 132.2(3)(g) - Subaragraph 132.2(3)(g)(vi) - Clause 132.2(3)(g)(vi)(C) - Subclause 132.2(3)(g)(vi)(C)(I) | renunciation by subsidiary partnership of transferee MFT of units that otherwise would be issuable on the redemption of its incestuous holding in transferor MFC | 245 |
2017 Ruling 2016-0670971R3 - Repayments of upstream loans and series test
The loan owing by a foreign affiliate to a non-resdient sister had had a maturity date that was automatically extended for consecutive one-year...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 90 - Subsection 90(8) - Paragraph 90(8)(a) | subsequent intercorporate loans and discharges were not part of “series of loans or other transactions and repayments” | 302 |
| Tax Topics - Income Tax Act - Section 90 - Subsection 90(14) | loan repayment not part of a prohibited series | 143 |
2016 Ruling 2015-0612931R3 - Variation of trust indenture
Proposed creation of new class of units to fund trailer fees
The Declaration of Trust of an open-ended non-SIFT mutual fund trust (the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 141.01 - Subsection 141.01(2) | CRA income tax ruling describes a structure for MFT trailer fees to be funded out of increased management fees to an indirect real estate subsidiary LP of the MFT | 160 |
9 August 2016 Internal T.I. 2014-0526171I7 - Resettlement of a Trust
A non-resident commercial trust (the “Trust”) governed by the laws of a non-resident common law jurisdiction was settled with cash and real...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(a) | constructive resettlement of trust on sale of beneficial interests therein extinguished its losses | 204 |
| Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) | sale of trust with losses to 3rd party was abusive | 162 |
2016 Ruling 2015-0606771R3 - Disclaimer of trust interest
An estate (that was a testamentary trust) holding appreciated assets has five grandchildren who would receive as residuary beneficiaries under the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2) | disclaimer resulting in a rollout of estate assets under an intestacy | 396 |
| Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(1) | no disposition from disclaimer | 93 |
2016 Ruling 2015-0615041R3 - Conversion of Delaware corporation to LLC
Structure
C Co is a corporation incorporated under the Delaware General Corporation Law (“DGCL”) which is wholly-owned (through the ownership...
2015 Ruling 2015-0578051R3 - Variation of trust indenture
CRA ruled that the amendment of the trust deed for a listed mutual fund trust to add preferred units (also to be listed) would not result in the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.1) | addition of preferred units to a listed MFT’s capital | 144 |
2015 Ruling 2014-0558831R3 - No-type of property spin-off butterfly
A butterfly spin-off by a public corporation (DC) of two business divisions (which it prepackaged in a Newco subsidiary) is preceded by a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 55 - Subsection 55(1) - Distribution | prior drop-down of assets to Newco/split of DC manager's business/CEC proration/replacement option issuance as boot | 1177 |
| Tax Topics - Income Tax Act - Section 7 - Subsection 7(1.4) | replacement stock options issued by Spinco treated as boot | 112 |
| Tax Topics - Income Tax Act - Section 86 - Subsection 86(1) | new common shares with same attributes as old subject to rights of new special shares/ pro rata PUC | 164 |
| Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) - Paragraph 85(1)(d) | proration of CEC preliminary to butterfly | 156 |
23 December 2014 External T.I. 2013-0487791E5 F - Période d'amortissement du revenu d'emphytéose
A corporation rents a property under an emphyteutic lease for a lump sum. Is it able to amortize that amount over the period stipulated in the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Timing | sum received on granting an emphyteusis is proceeds because it is not a lease | 196 |
S3-F9-C1 - Lottery Winnings, Miscellaneous Receipts, and Income (and Losses) from Crime
Forfeited Deposits
1.8 Cancellation of a contract constitutes a disposition of a taxpayer's rights under that contract pursuant to subparagraph...
14 February 2014 Internal T.I. 2013-0490891I7 - Revocable Living Trust
On a date prior to 1988, the Trust was created and Mother (a U.S. resident) and each of her children (also U.S. residents) transferred their...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) | revocable living trust formed on initial settlement date | 242 |
2014 Ruling 2014-0518521R3 - Issuance of a new class of units - Hedged Class
An open-end mutual fund trust ("Fund 1") investing in senior floating rate loans around the world will add a class of units (the "Hedged Class")...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.1) | FX gains and losses and hedging expenses referable to a class of FX-hedged units could be wholly allocated and distributed first to that class | 391 |
3 January 2014 External T.I. 2013-0482081E5 - Nil value partnership units
A limited partnership "has ceased all activity but has not legally ceased to exist;" and "all partnership funds have been lost in a failed...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 50 - Subsection 50(1) | nil value partnership | 123 |
18 December 2013 External T.I. 2013-0511101E5 F - Substantial interest - Part VI.1
An inter vivos trust (Trust), with three individual trustees holds Class A non-voting common shares and C special voting shares of Corporation. An...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 191 - Subsection 191(3) | creation of substantial interest through redemption of special voting shares | 414 |
| Tax Topics - Income Tax Act - Section 249 - Subsection 249(4) | voting rights shifted to 2nd trust with same trustees: no control change | 179 |
| Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(2) - Paragraph 251.2(2)(a) | no acquisition of control where votes pass from trust to an estate with the same individuals as executors | 187 |
11 October 2013 APFF Roundtable, 2013-0495821C6 F - Share disposition
In order to isolate cost base in preferred shares, a taxpayer transfers his common shares of a corporation to the corporation in exchange for...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) | shares in different class with identical attributes are the same shares | 229 |
8 February 2013 External T.I. 2012-0464131E5 F - Transfert de propriété
CRA declined to respond in the absence of more particulars as to the date of disposition of land where a promise to purchase is signed in Year 1...
11 February 2013 External T.I. 2012-0451791E5 - Disposition of trust interest
Mr. A, who is resident in Canada, settles a discretionary family trust whose beneficiaries are Mr. B and Mrs. B and their children, but only if...
2013 Ruling 2013-0492731R3 - qualifying disposition -mutual fund trust
A REIT formed a unit trust (“MFT”) by causing its subtrust to transfer its assets to MFT pursuant to s. 107.4, distributed a small number of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 107.4 - Subsection 107.4(1) | elimination of REIT sub trust through s. 107.4 transfer to new "in house" MFT and s. 132.2 merger of MFT into REIT | 644 |
| Tax Topics - Income Tax Act - Section 132 - Subsection 132(6) | MFT's trustee not to be a director of a sub | 119 |
| Tax Topics - Income Tax Act - Section 132.2 - Subsection 132.2(1) - Qualifying Exchange | elimination of REIT subtrust through s. 107.4 transfer to new "in house" MFT and s. 132.2 merger of MFT into REIT | 97 |
2013 Ruling 2012-0464841R3 - Distribution by a trust
A variation of a trust made pursuant to an application to a Superior Court in order to authorize the capital encroachment that would be entailed...
2012 Ruling 2011-0418571R3 - Amendment to 6801(d) Plan
In order that the Corporation's liabilities will not fluctuate with the value of the "Deferred Payment Units" ("DPUs") held by participants, the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 6801 - Paragraph 6801(d) | amendment to add stock settlement alternative | 86 |
2012 Ruling 2011-0403291R3 - Treaty exempt sale
As part of a larger reorganization, a Canadian partnership held by four Canadian corporations in the group (Sellptp) distributes shares of a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 55 - Subsection 55(2) | Treaty step-up to avoid the application of s. 55(2) to a spin-off made to effect an arm's length sale of the rump | 337 |
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | Treaty step-up to avoid the application of s. 55(2) to a spin-off made to effect an arm's length sale of the rump | 337 |
2012 Ruling 2012-0451431R3 - Loss Consolidation
LossCo and ProfitCo, both are indirect subsidiaries of a foreign parent. LossCo is indebted to ProfitCo under the LossCo Indebtedness. Proposed...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(a) | ATR-66 elimination of debt to make Lossco solvent; roll-in/distribution out (one-day after roll in) of appreciated depreciables to use its losses | 435 |
| Tax Topics - Income Tax Act - Section 51.1 | intercompany debt conversion to senior and junior note and elimination of junior note | 27 |
| Tax Topics - Income Tax Act - Section 80.01 - Subsection 80.01(4) | intercompany debt conversion to senior and junior note and elimination of junior note | 326 |
2012 Ruling 2011-0429611R3 - Variation of Trust Indenture
An open end (as described in s. 108(2)(a)) mutual fund trust (the Trust), whose units (the Units) trade on an exchange, wishes to qualify as a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.1) | addition of preferred units | 259 |
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(b) | application of asset tests to sub LPs on look-through basis; special voting unit | 363 |
2012 Ruling 2011-0410181R3 - Variation of trust indenture
An open end (as described in s. 108(2)(a)) mutual fund trust (the Trust), whose units (the Units) trade on a stapled basis with a second open-end...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.1) | addition of preferred units with proportionate allocation of taxable income to distributions | 345 |
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(b) | conversion of note to satisfy 10% test/partnership look-through | 291 |
3 December 2012 External T.I. 2012-0457741E5 - Disposition of taxable Canadian property
Respecting a question as to whether the amalgamation of two non-resident corporations holding the shares of a Canadian subsidiary would be a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(1) | continuation amalgamation not a disposition | 155 |
5 October 2012 APFF Roundtable, 2012-0451281C6 F - Usufruit étranger
Respecting the treatment of a usufruct created in a foreign jurisdiction such as under the French Civil Code, CRA stated (TaxInterpretations...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(3) | French usufruct does not create a trust | 73 |
5 October 2012 APFF Roundtable, 2012-0455431C6 F - Changement de bourse
An investor holds shares of Corporation Y in street name. His shares of Corporation Y listed on the TSX are exchanged by a broker, in an...
6 May 2012 TEI Roundtable, 2012-0468931C6 - TEI Conference Q#5 Settlement Date
Notwithstanding the cancellation of IT-133, CRA confirms the continuation of its policy in that Bulletin that the date of disposition of shares is...
8 March 2012 Internal T.I. 2010-0387961I7
a Japanese company (Opco 1) merged with its Japanese subsidiary (Opco 2) and grandchild Japanese subsidiary (Opco 3) in a merger by absorption...
15 February 2012 External T.I. 2011-0426531E5 - Exchange of Gold Bullion for ETR
Based on the Exchange Traded Receipts of the Royal Canadian Mint representing undivided legal and beneficial interests in gold bullion and on the...
7 October 2011 APFF Roundtable Q. 17, 2011-0412171C6 F - 112(7) - Share-for-Share Exchange - 85(1)
Where there is an exchange of 100 common shares in the capital of a corporation for 100 "new" common shares in its capital, there would "not...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 112 - Subsection 112(3) | s. 112(3) could still apply if "old" dividend-bearing shares "exchanged" under purported s. 85(1) exchange for "new" but identical shares | 98 |
| Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) | potentially no disposition if "new" share rights identical | 50 |
| Tax Topics - Income Tax Act - Section 112 - Subsection 112(7) | s. 112(7) does not “technically” apply to a dirty s. 85 exchange of old shares for new shares | 257 |
12 July 2011 Internal T.I. 2010-0366321I7 - Tax treatment of break fees received
The rights of the taxpayer under a support agreement, which provided for the payment to it in the specified circumstances of a break fee,...
2011 Ruling 2011-0408871R3 F - Monetization
A Canadian holding company will enter into an arrangement for the monetization of some of its shares in a Canadian public company ("ACo") under...
12 July 2011 Internal T.I. 2010-0366321I7 - Tax treatment of break fees received
The rights of the taxpayer under a support agreement, which provided for the payment to it in the specified circumstances of a break fee,...
2011 Ruling 2010-0389921R3 - New series of units - US dollar and Hedged
In order to permit some unitholders (who have US dollars to invest) to achieve a return in US dollars that is the same as the Canadian market...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.1) | FX gains and losses (which cannot be predicted in advance) could be allocated solely to the hedged series (subject to a series income limitation) | 241 |
2010 Ruling 2010-0373801R3 - Conversion from a BV to a DC
Proposed transactions
BV, which is a private limited liability company under Dutch law, will convert into a Dutch cooperative ("DC") pursuant to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 85.1 - Subsection 85.1(3) | drop-down by the two Cdn. “shareholders” of Dutch co-op (DC) of FAs in consideration for proportionate “increases” in their membership interests considered to be for “shares” | 199 |
| Tax Topics - Income Tax Act - Section 95 - Subsection 95(4) - Direct Equity Percentage | 46 | |
| Tax Topics - Income Tax Act - Section 86 - Subsection 86(1) | exchange of shares in Netherlands BV for membership interests in Dutch coop qualified under s. 86 | 147 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Share | membership interest in Dutch coop a share | 139 |
2010 Ruling 2010-0358861R3 - Variation of trust indenture
A variation of a trust indenture to ensure compliance with IFRS would not result in a disposition by the trust of its assets, or a disposition by...
8 October 2010 Roundtable, 2010-0373401C6 F - Fiducies et ajout d'un bénéficiaire
The trustees of a fully discretionary trust that is resident in Canada for the purposes of the Act, applied, with the consent of all the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(1) | court-approved addition of beneficiary to discretionary resident trust with TCP generates s. 116 obligations re resulting trust interest dispositions | 67 |
21 July 2009 Internal T.I. 2009-0322591I7 F - Déduction des intérêts
The taxpayer purchased assets from the vendor (apparently, a non-resident) in consideration for shares of the taxpayer and interest-bearing debt,...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Payment & Receipt | replacement of note with capitalized note with note for full amount did not constitute payment by novation | 119 |
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(b) | issuance of replacement promissory note for amount of previous principal plus capitalized interest was not a crediting of such interest | 151 |
29 July 2009 External T.I. 2008-0297011E5 F - Conversion de participations dans une SNC
A partnership has several members, some of whom hold partnership interests which participate in both income and capital of the partnership. The...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 97 - Subsection 97(2) | s. 97(2) rollover not available if new partnerships interests exchanged for old interests are not in totality substantially distinguishable | 274 |
| Tax Topics - Income Tax Act - Section 96 - Subsection 96(1.01) | s. 96(1.01) inapplicable where only income interest and not capital interest disposed of | 139 |
| Tax Topics - Income Tax Act - Section 43 - Subsection 43(1) | where only income interest and not capital interest in a partnership disposed of, there is part disposition of partnership interest with resulting reduced ACB for remainder interest | 163 |
2008 Ruling 2008-0272141R3 - Conversion of Delaware corporation into LLC
The shares of a U.S. corporation (D Co) holding two Canadian subsidiaries (G Co and H Co) whose shares are taxable Canadian property are...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | disposition of tcp through U.S. holdco was exempted | 80 |
14 August 2008 External T.I. 2004-0104691E5 - Conversion of a LLC to a LP
Where a Delaware LLC governed by the Delaware Limited Liability Company Act is converted into a limited partnership pursuant to s. 17-217 of the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Corporation | Del. LP a partnership notwithstanding separate legal personality | 168 |
| Tax Topics - Income Tax Act - Section 88 - Subsection 88(3) | 54 |
20 November 2008 Internal T.I. 2008-0281411I7 - Addition of Beneficiaries
The sole trustee (the Trustee) of a family trust who also was one of the "Existing Beneficiaries" exercised a power under the Trust Indenture to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(b) | 298 |
30 March 2007 External T.I. 2006-0196641E5 - Transfer of Silver Bullion
The transfer of silver bullion to a trust which was designed to reflect the price of silver likely would give rise to a disposition, but further...
25 July 2007 External T.I. 2007-0222251E5 F - Perte finale sur un immeuble démoli
A Canadian-controlled private corporation demolished a building on its land. CRA, without a need to cite BCN in support, accepted that this...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(21.1) - Paragraph 13(21.1)(b) | terminal loss on demolition of building is generally cut in half without ACB bump to subjacent land | 270 |
15 February 2007 External T.I. 2006-0214151E5 - Disposition of Partnership Interest
With respect to an inquiry as to whether a capital loss could be claimed on a partnership interest in circumstances in which unsuccessful attempts...
9 May 2007 External T.I. 2006-0189931E5 F - Renonciation à une fiducie par un conjoint
Regarding the consequences of the renunciation by the beneficiary of a testamentary spousal trust of all entitlements under the trust (other than...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(b) | renunciation of interest in spousal trust not a disposition to the family beneficiaries | 84 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(4) - Paragraph 104(4)(a) | variation of spousal trust, following renunciation by spouse, to accelerate distribution entitlement of residuary beneficiaries would not engage s. 104(4) until distribution | 195 |
| Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) | variation of spousal trust, following renunciation by spouse, to accelerate distribution entitlement of residuary beneficiaries would not deny s. 70(6) rollover | 211 |
2007 Ruling 2006-0213721R3 - Trust amendments to delete references to units
The amendment of a trust indenture for a trust of which a corporation was the sole beneficiary to delete all references to units (so that the...
2006 Ruling 2006-0177541R3 - Amendments to Debt, Conversion
Based on a representation that under the relevant provincial law this would not result in a novation of the debt or cause its repayment or the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 51 - Subsection 51(1) | addition of conversion right to debt followed by conversion | 114 |
19 December 2001 Internal T.I. 2001-0109417 - TAXABLE BENEFITS
A revival of a corporation under the CBCA would appear to have retroactive effect and the revived corporation will generally have all the rights...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 80.4 - Subsection 80.4(3) | 71 | |
| Tax Topics - General Concepts - Effective Date | corporate revival has retroactive effect | 42 |
2004 Ruling 2004-0073171R3 - Creation and reclassification of classes of units
A mutual fund trust wishes for there to be better controls to avoid becoming majority-owned by non-residents and potentially losing its MFT status...
2004 Ruling 2004-0065921R3 - Conversion of corporations into LLCs
Conversions of corporations incorporated under the laws of Delaware and California into limited liability corporations (so that they can be held...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 90 - Subsection 90(3) | 179 |
10 November 2004 External T.I. 2004-0092561E5 F - 85(1), 248(1) "Disposition"
An individual transfers his 100 common shares of a corporation to the corporation in consideration for 500,000 preferred shares and 100 common...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) | no disposition on common-for-common exchange | 254 |
8 September 2004 External T.I. 2004-0078771E5 - Tenants in common to joint tenants
A change in the ownership by a brother and sister of land and building from tenants in common to joint tenants would not, by itself , result in a...
29 July 2004 Internal T.I. 2003-0023761I7 F - Contrat de SWAP d'équité
Marren v. Ingles (1980), 54 TC 76 (HL) was applied to conclude that where on the termination of an equity swap agreement between the taxpayer and...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss | loss on equity swap entered into in monetization transaction was on capital account | 163 |
| Tax Topics - Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(i) | swap termination payment could be deducted if it was incurred to make the disposition (the swap payment termination) | 194 |
| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Futures/Forwards/Hedges | equity swap was to hedge the risk under a capital borrowing, so that loss on closing out the swap was on capital account | 358 |
29 March 2004 External T.I. 2003-0049231E5 - Conversion of Delaware LLC to Limited Partnership
CRA was not prepared to confirm (and in fact doubted) that the conversion of a Delaware limited liability company into a limited partnership...
2003 Ruling 2002-0174703 - Foreign Affiliate Reorganization
A great-grandchild foreign subsidiary ("Dco") of a Canadian public corporation ("Aco") and a great-grandchild foreign subsidiary of Aco ("Fco")...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) | 132 | |
| Tax Topics - Income Tax Act - Section 53 - Subsection 53(2) - Paragraph 53(2)(b) | 166 |
10 April 2003 External T.I. 2002-0169775 - Foreign Merger
Where a Japanese parent merges with his Japanese subsidiary which, in turn, holds shares of a Canadian company, the Japanese subsidiary will not...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 87 - Subsection 87(1) | 95 |
24 February 2003 External T.I. 2002-014995
A Canadian public company ("Pubco 1") carries out a share consolidation under which each 100 pre-consolidation shares are replaced by one...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(1) | 93 |
2002 Ruling 2002-013371A - Conversion-taxable CDN Corp to MF Corp
Addition of retraction right
Articles of Amendment will be filed so that the common shares of a taxable Canadian corporation (Aco) will be...
1 November 2002 External T.I. 2001-010435
On a short-form vertical amalgamation pursuant to the Ontario Business Corporations Act "since the shareholders of the parent corporation become...
10 July 2002 Internal T.I. 2001-011565
The determination of whether a contract is a lease or a sale is based on the legal relationships created by the terms of the particular agreement,...
4 June 2002 External T.I. 2002-0141435 F - Disposition of Shares
The exchange of voting common shares of the capital stock of a corporation for voting preferred shares and non-voting common shares of the same...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) | exchange of voting common for voting pref and non-voting common eligible for s. 85(1) election | 43 |
21 May 2002 External T.I. 2001-0097215 F - DISPOSITION D'UN BIEN EN IMMOBILISATION
CCRA indicated that there would be no disposition of the taxpayer’s lands on which there were unpaid municipal taxes until the municipality sold...
24 April 2002 External T.I. 2001-0111185 F - DISPOSITION PARTIELLE D'UNE PARTICIPATION
Ms. A is one of the three limited partners in a limited partnership (the "LP"). Her 33 units entitle her to 1/3 of the value of the shares, 3/4 of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 97 - Subsection 97(2) | creation of 3 classes of units which tracked the 3 types of partnership property was not a disposition and did not engage s. 97(2) | 218 |
| Tax Topics - Income Tax Act - Section 43 - Subsection 43(1) | all the partner’s units were a single property, so that the disposition of one type of unit engaged s. 43(1) | 229 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | all units of three classes constituted a single property to the limited partner | 158 |
20 February 2002 External T.I. 2001-0114745 F - CONTINUATION SOCIETE EN COOPERATIVE
In declining to opine on the tax consequences of the continuance of a corporation as a cooperative, CCRA indicated that such consequences “vary...
28 November 2001 Internal T.I. 2001-0091247 - Employer Stock Opt. & Section 116116(5)
S.49(3) did not apply to deem the exercise of employee stock options held by a non-resident former employee to not be a disposition of the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(5) | no acquisition of property by the obligor corporation when its debt repaid or employee stock option exercised | 131 |
| Tax Topics - Income Tax Act - Section 49 - Subsection 49(3) | 80 |
16 November 2001 Internal T.I. 2001-0097587 F - COPRODUCTION-DROIT D'AUTEUR
The Directorate referred to an earlier ruling on a treaty co-production where the U.K., and qualified corporation, co-producers each held a master...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 1106 - Subsection 1106(12) | description of ruling letter regarding licensing of copyright by qualified corporation to UK co-producer and licence back | 311 |
2001 Ruling 2000-0060623 - Amendments to Notes - Disposition?
A change in the interest rate and the dates on which principal repayments were required to be made did not result in either a disposition of a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Subparagraph 212(1)(b)(vii) | 75 |
9 March 2001 Internal T.I. 2001-0063737 - SCHEDULE III OF THE REGULATIONS
Before concluding that the changes, taken together, effected by a "Second Modification of the Original Lease" would be considered to be new...
18 December 2000 External T.I. 2000-0050255 - CHANGE IN TERMS OF DEBT OBLIGATION
In response to a general question as to "whether a change in the terms of a debt obligation would result in a disposition of the existing...
7 December 2000 Ruling 2000-0040053 - Disposition - Mutual Fund Trust Units
In connection with refusing to rule because the proposed transactions related to a wide range of funds for which documentation had not been...
2000 Ruling 2000-0023953 - Foreign merger
A US-resident corporation ("Absorbco") merges into its US-resident parent corporation, with Absorbco surviving the merger. Three other...
2000 Ruling 2000-0022983 - Mutual Fund Trust- Redesignation Feature
"The proposals include amendments to a declaration of trust and the execution of an instrument pursuant to the declaration of trust which will...
2000 Ruling 2000-0007513 - Index Tracking Mutual Fund
Net realized capital gains of a mutual fund for a year would be due and payable to the unitholders but reinvested automatically on the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(a) | potential suspension of redemption right did not disqualify | 69 |
| Tax Topics - Income Tax Act - Section 132 - Subsection 132(6) | securities lending | 32 |
1999 Ruling 9914303 - CONVERSION TO OPEN END UNIT TRUST
The addition of a redemption feature to a unit trust and an expansion of its investment objectives would not result in a disposition of either...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(2) - Paragraph 108(2)(a) | cash redemption at 95% of market or at 100% with in specie distribution | 120 |
September 1999 Gift Planning Symposium Round Table, Q. 2, No. 2000-M020417
Before disagreeing with the proposition that when a settlor transfers appreciated property to a trust and the settlor is the income beneficiary,...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | residual interest of settlor | 101 |
16 February 1999 External T.I. 9732005 - TRUST - ADDITION OF REDEMPTION RIGHT
An amendment to the declaration of trust governing a unit trust to provide that the units may be redeemed on demand would not, by itself, result...
1999 Ruling 9913713 - CONVERSION TO OPEN-ENDED UNIT TRUST
Ruling that the expansion of the investment objects of a unit trust and the addition of a redemption right would not give rise to a disposition of...
1999 Ruling 9922923 - CONVERSION OF CORPORATION INTO LLC
The conversion of a Delaware corporation into a Delaware LLC would not result in a disposition of its assets or of shares in its capital.
1999 Ruling 991430
The addition of a redemption feature to a unit trust and an expansion of its investment objectives was ruled not to give rise to a disposition of...
28 September 1998 External T.I. 9819755 - CANADIAN FILM OR PRODUCTION TAX CREDIT
Normal commercial distribution arrangements for films do not result in a disposition of a portion of the copyright in the production held by the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 125.4 - Subsection 125.4(4) | 26 |
14 July 1998 Internal T.I. 9808476 - BROADCASTER ACQUIRING EQUITY INTEREST
A Canadian producer would be considered to have disposed of a portion of its beneficial interest in a television production when it entered into a...
Income Tax Technical News No. 14, 9 December 1998
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 39 - Subsection 39(2) | implied novation | 120 |
| Tax Topics - Income Tax Act - Section 9 - Timing | 37 | |
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) | journal entry not crediting | 114 |
22 December 1997 External T.I. 9719575 - CONVERTING OWNERSHIP TYPE - WHETHER A DISPOSITION
The conversion of ownership of personal use real estate from a joint tenancy to a tenancy in common would not constitute a disposition or a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Disposition - Paragraph (e) | 28 |
29 November 1996 External T.I. 9632045 - VOTING TRUST, IS DISPOSITION RECOGNIZED ON TRANSFER
Income Tax Technical News, No. 7 gives a general indication of their criteria that are considered by RC in determining whether a transfer of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Disposition - Paragraph (e) | 37 |
30 November 1996 Ruling 9726133 - MULTIPLE CLASSES OF UNITS OF MUTUAL FUND TRUST
An open-end mutual fund, which has one class of unit, currently pays fixed distributions that exceed its annual income. In order to accommodate...
7 October 1997 External T.I. 9724275 - OPTION PRICE REDUCTION, DISPOSITION
RC followed Amirault v. MNR, 90 DTC 1330 (TCC) in indicating that a reduction in the exercise price for an employee stock option would not...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 7 - Subsection 7(1.4) | 30 |
28 January 1997 External T.I. 9640915 - AUTO LEASING
General discussion of the circumstances in which a lease will be treated as an acquisition or disposition of property.
30 November 1996 Ruling 9702653 - PARTITIONING SHARES HELD BY PARTNERSHIP
Where, after a partnership holding shares has been dissolved in compliance with s. 98(3), each former partner surrenders an undivided interest in...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 96 | 43 |
Income Tax Technical News, No. 7, 21 February 1996 (cancelled)
"A revocable living trust should be recognized for income tax purposes at the time that legal title to property is transferred to it and ... the...
1996 Corporate Management Tax Conference Round Table, Q. 20
A revision of IT-448 is "focusing on the fact that the settlement, extinguishment or disposition of a debt obligation is primarily a matter of law."
6 March 1995 Internal T.I. 9409947 - WINDING-UP OF A FOREIGN AFFILIATE
In finding that the shares of a UK subsidiary were disposed of when the shares were cancelled on completion of voluntary dissolution proceedings...
28 October 1994 External T.I. 9418635 - TRANSFER PROPERTY TO A BARE TRUST
Where legal title to a property is transferred to a bare trust without a corresponding transfer of beneficial ownership, there is no disposition...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Disposition - Paragraph (e) | 27 |
1 November 1994 Internal T.I. 94234170 F - CBR Assurance-vie
The Directorate found that an amendment of a term life insurance policy to decrease the premiums and the insured amount appeared not to give rise...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 148 - Subsection 148(9) - Disposition | amendment to policy to reduce premiums and insured amounts was not intended to create a new policy, and was not a disposition | 250 |
11 October 1994 External T.I. 9421345 - DATE OF ACQUISITION
"Generally the date of disposition of property is the date on which beneficial ownership passes to the purchaser and the vendor has an absolute...
11 August 1994 External T.I. 9412195 - CONVERSION OF GOLD CERTIFICATE TO GOLD BULLION
Where a gold certificate evidencing ownership of a stated amount of gold bullion and that is held as capital property is exchanged for the...
5 August 1994 External T.I. 9412855 - HEALTH AND WELFARE TRUST AND VARIANCES TO A TRUST
The transfer of property from one health and welfare trust into a new health and welfare trust will not result in a disposition where the new...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Disposition - Paragraph (e) | 79 |
4 August 1994 External T.I. 9403435 - EARNOUT RIGHTS RE SALE OF SHARES
Where the taxpayer has the right in accordance with IT-426 to use the cost recovery method for reporting the gain on a disposition of shares but...
9 February 1994 External T.I. 9311845 F - Transfer of Property to a Trust
It is not possible at law for a trust to be created on a settlement of property on it where the trust simultaneously issues a promissory note to...
1994 A.P.F.F. Round Table, Q. 5
When a property is transferred with a view to securing repayment of a debt or a loan (in this case, a loan from a related company), there is no...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Disposition - Paragraph (d) | 82 |
1993 Internal T.I. 9325537 F - Election Under Sub
"A disposition takes place when a share is cancelled during the process of a voluntary dissolution of a corporation pursuant to clause...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | 39 | |
| Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) | 39 |
93 C.R. - Q. 16
Where on the merger of a foreign corporation owned by a Canadian corporation with a second foreign corporation, the first corporation has ceased...
1 December 1993 Annual CTF Roundtable, Q.16, 932866
Is there a disposition of a debt of a foreign corporation owned by a Canadian corporation when that foreign corporation is merged with another...
93 C.R. - Q. 40
Where no new partners join or leave a professional partnership but the allocation of profit is altered, with some partners being required to make...
93 C.M.TC - Q. 8
Notwithstanding the Viceroy Rubber case, RC will not provide rulings that a lease results in the disposition of property. There would seldom, if...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Subparagraph 212(1)(b)(vii) | 41 |
15 January 1993 T.I. (Tax Window, No. 28, p. 23, ¶2371)
Where a non-resident co-tenant of Ontario real property transfers her interest in the property to a non-resident revocable trust, retaining for...
2 December 1992 Memorandum (Tax Window, No. 27, p. 20, ¶2349, October 1993 Access Letter, p. 480)
A true abandonment of property, for example, where ownership of the property reverts to the Crown or accrues to the first finder and there is no...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Disposition of Property | 42 |
13 November 1992 T.I. 923187 (September 1993 Access Letter, p. 423, ¶C144-239)
Where a subscriber to an RESP names another person's child as a beneficiary in consideration of the receipt of a lump sum, the subscriber will...
P-020, 15 October 1992 "Grandfathered Leases"
Discussion of when a change to a lease would be sufficient to result in novation of the lease.
2 September 1992 T.I. (Tax Window, No. 24, p. 15, ¶2185)
There will be no deemed disposition of property on the distribution of taxable Canadian property to a non-resident beneficiary on the winding-up...
92 C.R. - Q.26
Where an amalgamation does not qualify under s. 87 and, under the governing corporate law, the amalgamated corporation is considered to be a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 87 - Subsection 87(1) | 64 |
92 C.R. - Q.10
Where the beneficiaries of a trust, which otherwise would be required to distribute its assets on the death of the settlor, consent to a variation...
C. Brian Darling, "Revenue Canada Perspectives," 1992 Corporate Management Tax Conference Report (CTF), Q.11
RC's position (1990 Roundtable, Q.30) on "whether or not there is a disposition of the partnership interests of general partners who become...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(e) | 19 |
12 June 1992 Memorandum (Tax Window, No. 21, p. 10, ¶2023)u
Discussion of proposed revisions to IT-125R3 respecting when a farmouts will result in a proceeds of disposition to the farmor.
8 January 1992 T.I. (Tax Window, No. 15, p. 15, ¶1688)
The cancellation of a lease by a tenant and the tenant's continued occupation of the premises on a periodic tenancy does not entail a disposition...
91 C.R. - Q.41
The date of disposition of property is the date the beneficial ownership is intended to pass to the purchaser and the time the vendor has an...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Effective Date | 49 | |
| Tax Topics - Income Tax Act - Section 9 - Timing | 48 |
November 1991 Memorandum (Tax Window, No. 12, p. 19, ¶1562)
A conversion of title from joint tenancy to tenancy in common does not result in a disposition provided there is no change in the percentage...
29 August 1991 T.I. (Tax Window, No. 8, p. 10, ¶1424)
Where a taxpayer receives treasury preferred shares of a corporation in consideration for the disposition to the corporation of its common shares,...
21 May 1991 Memorandum (Tax Window, No. 3, p. 22, ¶1256)
Where new partners are found to contribute cash to a partnership which has encountered cash flow problems, and the capital accounts of the old...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 98 - Subsection 98(2) | 93 |
4 January 1991 T.I. (Tax Window, Prelim. No. 3, p. 17, ¶1085)
The disposition on the winding-up of a wholly-owned foreign subsidiary of its shares will occur when the parent becomes entitled to receive the...
31 August 1990 Income Tax Severed Letter AC59691 - Continuation of a Partnership
An Alberta general partnership (comprised of two Canadian corporations and owning and managing Canadian real estate) will be continued to a U.S....
12 September 1990 T.I. (Tax Window, Prelim. No. 1, p. 21, ¶1014)
A change from joint tenancy to tenancy in common is not a disposition of property for purposes of ss.54(c), 69(1)(b) and 115(1)(a)(iii).
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 164 - Subsection 164(6) | 56 |
9 September 1990 T.I. (Tax Window, Prelim. No. 1, p. 12, ¶1033)
Where an individual and his spouse have been farming a parcel of land since 1985 and proposed to subdivide the land and sell the lots to their...
90 C.R. - Q31
In the Stursberg case, the Tax Court acknowledged that the scheme of the Act would ordinarily permit the disposition of a partnership interest to...
90 C.R. - Q30
In general, the conversion of a general partnership to a limited partnership will not result in a disposition of the partnership interest provided...
90 C.R. - Q9
RC generally does not seek to recharacterize the receipt of advances by a leasing company from a financial institution made on the security of the...
18 May 1990 T.I. (October 1990 Access Letter, ¶1470)
In the context of a proposed winding-up of a law firm, it was noted that when only one property is divided there will not be a disposition.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 98 - Subsection 98(3) | 21 |
18 September 89 T.I. (February 1990 Access Letter, ¶1107)
Because a voluntary partition under Quebec law is not translatory but rather declaratory of title, such partition does not give rise to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Proceeds of Disposition - Paragraph (d) | 58 |
89 C.R. - Q.5
The rules in s. 13(7)(e) have no application or relevance in the determination of an individual's capital cost for capital gains purposes.
October 1989 Revenue Canada Round Table - Q.7 (Jan. 90 Access Letter, ¶1075)
The sale of a property under conditional sales contract, followed by repossession by the seller on default, are regarded as entailing two separate...
9 Aug. 89 T.I. (Jan. 90 Access Letter, ¶1079)
In a situation where Mrs. A wishes to transfer capital property to a trust of which she was the settlor as well as the income and capital...
89 C.M.TC - Q.5
the determination as to whether a lease-option arrangement constitutes a lease rather than a disposition is still necessary notwithstanding the...
89 C.M.TC - "Bare Trusts"
quaere, whether because s. 54(c)(v) only provides that there is no disposition of the property for capital gain purposes on the transfer of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(2) | 2 |
88 C.R. - F.Q.31
A conversion of land into inventory will occur at the time of application for approval of a plan for subdivision, rather than when the owner gets...
88 C.P.T.J. - Q.12
A conversion of a resource property (as in the conversion of a carried working interest into a fully participating working interest) is viewed as...
88 C.R. - "Finance and Leasing" - "Loans of Gold and Other Commodities"
A loan for consumption entails a disposition of the asset by the lender for proceeds equal to the value of the promise to return a like amount at...
88 C.R. - Q.33
The transfer of personal property to a revocable or irrevocable trust with the creation of a life-time income interest payable only to the...
87 C.R. - Q.48
There is a disposition where a partnership disposes of shares to the issuer in exchange for other shares of the issuer which are identical to the...
85 C.R. - Q.26
The transfer of property by an inter vivos trust to the beneficiary (who was also the settlor) will constitute a disposition of property unless...
ATR-1 (29 Nov. 85)
the transfer to a bare trustee corporation of the legal title to land in order to satisfy the requirement of the mortgagee that the mortgagor be a...
84 C.R. - Q.64
The position in IT-125R3 respecting when a farm-out arrangement is not considered to be a disposition does not extend to the disposition of other...
84 C.R. - Q.80
RC scrutinizes whether the "loaning" of securities under a dividend rental arrangement gives rise to a disposition.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 112 - Subsection 112(1) | 17 |
81 C.R. - Q.54
Where an investor grants to a person or persons the right to distribute film in markets representing most or all of the exploitable value of the...
79 C.R. - Q.41
Re farm-outs.
IT-461 "Forfeited Deposits"
IT-448 "Dispositions - Changes in Terms of Securities"
IT-441 dated November 29, 1979 "Capital Cost Allowance - Certified Feature Productions and Certified Short Productions"
"A disposition of the film or tape will be considered to take place where the investor grants to a person or persons the right to distribute or...
IT-338R "Partnership Interests - Effects on Adjusted Cost Base Resulting from the Admission or Retirement of a Partner"
The admission of a new partner may as a consequence of provincial law result in the disposition by each former partner of his partnership interest.
IT-233R "Lease-Option Agreements; Sale-Leaseback Agreements"
Discussion of the circumstances in which a lease-option agreement will be characterized as a sale of the leased property.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(5.2) | 4 | |
| Tax Topics - Income Tax Act - Section 16 - Subsection 16(1) | 33 | |
| Tax Topics - Income Tax Act - Section 16 - Subsection 16(1) | 50 |
IT-170R "Sale of Property - When Included in Income Computation"
Time that entitlement to proceeds arises
6. A "condition precedent" is an event (beyond the direct control of the vendor) that suspends completion...
IT-133 "Stock Exchange Transactions - Date of Disposition of Shares"
IT-65 "Stock Splits and Consolidations" 8 September 1972 (Archived)
Where all the shares of a class of stock of a corporation are replaced by a greater or lesser number of shares of the same class of stock of the...
IT-126R2, "Meaning of 'Winding-Up' ", March 20, 1995
4. Generally, the dissolution of a corporation is authorized by the applicable federal or provincial statute only where it can be shown...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) | 132 | |
| Tax Topics - Income Tax Act - Section 88 - Subsection 88(3) | 60 |
IC 72-17R6 "Procedures concerning the disposition of taxable Canadian property by non-residents of Canada - Section 116"
"... The disposition of real property normally occurs at the time the deed, in properly executed form, is delivered to the purchaser. This is...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(2) | 0 |
Articles
David H. Sohmer, "The Securities Transfer Act and the Income Tax Act: Who Owns Publicly Traded Securities?", Tax Topics (Wolters Kluwer), No. 2556, 2 March 2021, p. 1
U.S. background and commentary preceding the provincial Securities Transfer Acts
- Since 2005, a security entitlement system (pursuant to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | 303 |
Carrie Aiken, Johnson Tai, "Debt Restructuring Transactions – Issues, Strategies and Trends", 2016 CTF Annual Conference draft paper
Rescission if the parties could sue on the 2nd arrangement alone (p. 3)
[A] contract will generally be rescinded where the parties intend to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 80 - Subsection 80(2) - Paragraph 80(2)(k) | 813 | |
| Tax Topics - Income Tax Act - Section 39 - Subsection 39(2.02) | 115 | |
| Tax Topics - Income Tax Act - Section 111 - Subsection 111(12) | 147 |
Alison Spiers, "ECP Planning: Some Practical Considerations", Canadian Tax Focus, Vol. 6, No. 4, November 2016, p 1
Goodwill not transferable separately from business (p.1)
The view of the courts (Herb Payne Transport Ltd. v. MNR, [1963] CTC 116 (Ex. Ct)) is...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 14 - Subsection 14(1) | a purported transfer of goodwill or knowhow separately from the related business may not be effective | 94 |
Stephen Fyfe, Craig Webster, 2000 Conference Report, c. 21: Discussion of Multi-Class Mutual Fund Trusts.
Brown, "How to Spot the Difference Between Repos and Stock Loans", International Financial Law Review, June 1996, p. 51.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 260 - Subsection 260(1) - Securities Lending Arrangement | 0 |
Kroft, "An Update on Select Legal Issues Relating to Dispositions and Exchanges of Property", 1995 Corporate Management Tax Conference Report, c. 10.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 44 - Subsection 44(1) | 0 | |
| Tax Topics - Income Tax Act - Section 44 - Subsection 44(2) | 0 |
Douglas S. Ewens, Michael J. Flatters, "Toward a more Coherent Theory of Dispositions", 1995 Canadian Tax Journal, Vol. 43, No. 5, p. 1377
Discussion of the realization principle.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | 5 | |
| Tax Topics - Income Tax Act - Section 9 - Timing | 5 |
Innes, Cuperfain, "Variation of Trust: An Analysis of the Effects of Variations of Trust under the Provisions of the Income Tax Act", 1995 Canadian Tax Journal, Vol. 43, No. 1, p. 16.
Joel A. Nitikman, "Rescission of Contracts for Mistake", Canadian Current Tax, April 1995, Vol. 5, No. 7, p. 63.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Effective Date | 0 |
Gillespie, "Lease Financing", 1992 Corporate Management Tax Conference, c. 7
Discussion (at pp. 1-20) of the distinction between sales/acquisitions and leases.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Depreciable Property | 12 |
Brown, "The Transfer of Property on Death: Ownership, Control and Vesting", 1994 Canadian Tax Journal, Vol. 42, No. 6, p. 1449.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | 0 | |
| Tax Topics - Income Tax Act - Section 249 - Subsection 249(4) | 0 |
Goodman, "Is a Settlement of Property on a Revocable Inter Vivos Trust a Disposition for Income Tax Purposes", Estates & Trusts Journal, Vol. 14, No. 2, December 1994, p. 198.
Harris, "Tax Aspects of Condominium Conversions and Lease Inducement Payments to Recipients", 1986 Conference Report, c.45.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 45 - Subsection 45(1) - Paragraph 45(1)(a) | 0 | |
| Tax Topics - Income Tax Act - Section 9 - Computation of Profit | 0 |
Wilde, "Damages and Capital Gains Tax", British Tax Review, 1991, Nos. 1&2, p. 5
It is argued that damages are not liable to capital gains tax.
Ward, Arnold, "Dispositions - A Critique of Revenue Canada's Interpretation", Canadian Tax Journal, September-October 1980, p. 559.
Paragraph (a)
See Also
Royer v. Agence du revenu du Québec, 2019 QCCQ 4163
The taxpayers (a couple) were the equal co-owners of a house where they lived with their daughter and their disabled son. They sold the house,...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Principal Residence - Paragraph (a) | the principal residence did not include the portion thereof occupied by the grandmother performing an essential care function | 296 |
Administrative Policy
24 October 2006 External T.I. 2006-0174091E5 F - Disposition de parts d'un fonds réservé
CRA indicated that the exchange of units of a particular segregated fund with a redemption fee for units of a segregated fund without a redemption...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(a) - Subparagraph 39(1)(a)(iii) | exchange of segregated fund units with redemption charges for other units without, is a disposition | 141 |
26 June 2001 External T.I. 2001-0068285 F - DATE DE DISPOSITION ACTIONS EN BOURSE
In finding that a taxpayer may not uses the trade date rather than the settlement date as the date of disposition of publicly traded shares, CCRA...
Paragraph (b)
Administrative Policy
16 March 2015 Internal T.I. 2013-0479861I7 - Section 116 & forfeited deposits on real property
Before finding that a deposit forfeited to a non-resident vendor under an agreement for sale of B.C. real property (due to failure of the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 116 - Subsection 116(5) | forfeited sale deposit was proceeds of security interest rather than of tcp | 264 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(4) | forfeited sale deposit was proceeds of security interest rather than of tcp | 264 |
Subparagraph (b)(i)
See Also
Leonard v. The Queen, 2021 TCC 33, rev'd 2022 FCA 195
The taxpayer acquired mortgage debt owing by an insolvent developer from the bank at a discount, and then, two years later, purchased the related...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss - Debt | loss on mortgage that was acquired in order to acquire the underlying property under foreclosure proceeding on income account was also from an adventure | 347 |
| Tax Topics - Income Tax Act - Section 171 - Subsection 171(1) | Court not bound by an erroneous admission by one of the parties | 115 |
| Tax Topics - Income Tax Act - Section 9 - Timing | cost of mortgage debt acquired as adventure not deductible when expended | 53 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | foreclosure proceedings resulted in disposition of the mortgage but not of the debt it had previously secured | 471 |
| Tax Topics - General Concepts - Evidence | Manitoba law, being where the Tax Court hearing was held, was the lex fori governing the mortgage foreclosure proceeding at issue regarding a U.S. property | 178 |
Administrative Policy
2012 Ruling 2012-0456221R3 - Post Mortem Planning
A recently-formed subsidiary (Newco 2) of a testamentary trust was to be wound-up into the trust pursuant to s. 69(5), with articles of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(5) | shares of Holdco, stepped up to trust under s. 104(4)(a)(iii), are transferred to a Newco 2, and Newco 2 is wound-up under s. 69(5) to realize a capital loss, with s. 84(2) deemed dividend allocated to US trust beneficiaries | 1016 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) | testamentary trust was to make disproportionate allocation of dividends to US beneficiaries and of capital distributions to the resident beneficiary | 253 |
16 March 2012 External T.I. 2011-0423191E5 F - Disposition d'une participation dans une SP
Before confirming that there could be a disposition when there has been a distribution of all the partnership property and the fair market value...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 98 - Subsection 98(1) | disposition of partnership interest for nil proceeds when partnership dissolved upon winding-up distribution | 95 |
14 May 2001 Internal T.I. 2001-0065687 F - VENTE CREANCE A ESCOMPTE
An individual acquired a mortgage at a significant discount to its principal. CCRA assumed that the mortgage bore interest at a commercially...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 43 - Subsection 43(1) | apportioned ACB of discounted mortgage that is disposed of with each blended payment is determined by apportioning the discount | 143 |
| Tax Topics - Income Tax Act - Section 9 - Computation of Profit | holder on income account of a mortgage can choose to recognize the discount only after he has recovered his purchase price through the blended principal payments | 169 |
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(14) | application of s. 20(14) to acquisition of mortgage | 147 |
Subparagraph (b)(ii)
Administrative Policy
7 June 2001 Internal T.I. 2000-0060747 F - PROPOSITION CONCORDATAIRE - PTPE
The Shareholder made various non-interest-bearing advances to a Canadian-controlled private corporation (the Corporation), whose creditors...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(g) - Subparagraph 40(2)(g)(ii) | non-interest-bearing advances made by shareholder for income-producing purpose given Byram | 135 |
Subparagraph (b)(v)
Administrative Policy
4 June 2024 STEP Roundtable Q. 8, 2024-1007841C6 - Disposition of Property Held in a Bare Trust
CRA indicated that, notwithstanding (b)(v) of “disposition,” the winding up of a bare trust does not cause a disposition of its property by...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 150 - Subsection 150(1.1) - Paragraph 150(1.1)(b) - Subparagraph 150(1.1)(b)(ii) | a disposition by a bare trust, or the trust’s winding-up, generally is not a disposition under the ITA | 302 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | a disposition by a bare trust is not a “disposition” absent s. (b)(v) or (k) of that definition applying | 124 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition - Paragraph (e) | notwithstanding (b)(v) of “disposition,” the winding up of a bare trust does not cause a disposition of its property | 107 |
Paragraph (e)
Administrative Policy
4 June 2024 STEP Roundtable Q. 8, 2024-1007841C6 - Disposition of Property Held in a Bare Trust
Before taking into account the introduction of s. 150(1.2), s. 150(1.1)(b)(ii) required a trust which disposed of capital property in a year to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 150 - Subsection 150(1.1) - Paragraph 150(1.1)(b) - Subparagraph 150(1.1)(b)(ii) | a disposition by a bare trust, or the trust’s winding-up, generally is not a disposition under the ITA | 302 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | a disposition by a bare trust is not a “disposition” absent s. (b)(v) or (k) of that definition applying | 124 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition - Paragraph (b) - Subparagraph (b)(v) | (b)(v) inapplicable to the winding-up of a bare trust | 48 |
28 July 2003 External T.I. 2003-0026395 F - PLACEMENT ADMISSIBLE REEE
CCRA indicated that a contribution by the subscriber through a transfer of shares to the RESP would generate a capital gain or loss to the...
27 May 2003 Internal T.I. 2003-0005357 F - TRANSFERT DE PROPRIETE EFFECTIVE
After Monsieur received an expression of interest from a third party to purchase his shares of the Corporation, he transferred a portion of his...
IT-170R "Sale of Property - When Included in Income Computation"
Dispositions reference changes of beneficial ownership
¶ 4. Subparagraph 54(c)(v) [similar to what now is s. 248(1) – disposition – para....
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | 27 | |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | 359 | |
| Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(b) | 139 |
Paragraph (f)
Administrative Policy
2022 Ruling 2020-0858451R3 F - Trust to trust transfer
Mr. X did not wish his four children - who along with his wife and a family company were the beneficiaries of an inter vivos trust (“Trust 1”)...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Trust - Paragraph (g) | deemed disposition under s. 104(4) avoided through irrevocable vesting of interests in successor trust | 534 |
2022 Ruling 2021-0904611R3 F - Corporate reorganization and trust to trust transfer
Background
A special-needs minor child (CC4) of Mr. C and Ms. CC was the sole beneficiary of an inter vivos trust for the exclusive benefit of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Trust - Paragraph (g) | interests in inter vivos trust were vested indefeasibly in its minor beneficiary with special needs | 296 |
2016 Ruling 2014-0552321R3 F - Trust to trust Transfer
Background
An inter vivos Quebec trust (the “Old Trust”), which was settled some time ago by an individual unrelated to Mr. A, has as its...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 74.4 - Subsection 74.4(4) | having a trust interest vest indefeasibly in a minor is consistent with the minor not receiving or having any use of the trust capital | 468 |
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Trust - Paragraph (g) | trust holding property on its 21st anniversary for minors was not subject to s. 104(4) as their shares would have been deemed under the Trust Deed to be irrevocably determined by then | 413 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(5.8) | 104(5.8) applied to transfer to new trust with the same beneficiaries and essentially the same terms | 51 |
2013 Ruling 2013-0492831R3 - Trust to trust transfer of property
A family inter vivos trust (the "Trust"), with Father, his wife and XX as trustees, will transfer the Trust property, including the shares of...
2013 Ruling 2011-0395091R3 - MFC to MFT Conversion
underline;">: Background. Taxpayer, which is a listed mutual fund corporation, wishes to convert to a mutual fund trust (so that following the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 107.4 - Subsection 107.4(1) | 210 | |
| Tax Topics - Income Tax Act - Section 132.2 - Subsection 132.2(1) - Qualifying Exchange | 1059 | |
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) | deductible interest on internal assumption (no release) | 159 |
Paragraph (i)
Administrative Policy
16 December 2008 External T.I. 2008-0279741E5 F - Renonciation au capital d'une fiducie
An individual transfers shares to a trust of which he is the trustee, and he, his wife and children are the capital and income beneficiary. In...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) | settlor’s valid renunciation of capital interest (but not income interest) prior to trustees’ exercise of discretion to distribute a capital gain would avoid application of s. 75(2)(a)(i) | 199 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(9) - Disclaimer | legally impossible for a beneficiary of a discretionary trust to partially renounce income from a specific trust property | 262 |
| Tax Topics - Income Tax Act - Section 54 - Proceeds of Disposition | settlor’s renunciation of capital interest (but not income interest) prior to trustees’ exercise of discretion to distribute a capital gain would generate nil proceeds and not engage s. 56(2) or (4) | 194 |
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(b) | s. 69(1) does not apply to a renunciation of trust capital interest since no disposition "to" any person | 44 |
| Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) | s. 56(2) inapplicable to renunciation of capital interest in a trust | 45 |
| Tax Topics - Income Tax Act - Section 56 - Subsection 56(4) | s. 56(4) inapplicable to disclaimer of capital interest in a trust | 43 |
Paragraph (j)
See Also
106443 Canada Inc. v. The Queen, 94 DTC 1663, [1995] 1 CTC 2788 (TCC)
The transfer for nominal consideration by the taxpayer of 50% of his common shares in a corporation ("Les Entreprises") to a trustee in trust for...
Administrative Policy
26 September 2023 External T.I. 2023-0984971E5 - Disposition - Shares used as loan collateral
Would transferring publicly traded shares to a lender, as collateral for a loan, result in a disposition? CRA referred to the rule in para. (j) of...
30 November 2001 External T.I. 2001-0100125 F - Traitement fiscal fiducies-sûreté
For the sole purpose of guaranteeing the repayment of a loan from a Canadian financial institution, a non-resident transfers his Canada Savings...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(c) | a disposition on the transfer of Canada bonds by a non-resident to a security trust signified that interest distributions by the trust were subject to withholding under s. 212(1)(c) | 178 |
Paragraph (k)
Subparagraph (k)(ii)
Administrative Policy
2021 Ruling 2021-0911211R3 - Foreign Takeover
CRA ruled that the contribution by a non-resident subsidiary of its shares of a newly-acquired company (Merger Sub1) to be held pursuant to a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Adjusted Cost Base | shares issued to a Canadian parent in consideration for it issuing shares on a Delaware merger had a cost equal to such shares’ FMV/ shares transferred on absorptive merger at FMV | 903 |
| Tax Topics - Income Tax Act - Section 84 - Subsection 84(1) - Paragraph 84(1)(b) | permitted increase in PUC of shares of subsidiary to which a contribution of shares was made, equal to those shares’ FMV | 111 |
| Tax Topics - General Concepts - Payment & Receipt | borrowing and payment of funds pursuant to an internal payment direction agreement | 49 |
| Tax Topics - Income Tax Act - Section 53 - Subsection 53(1) - Paragraph 53(1)(c) | full cost to sub of shares contributed to it | 289 |
Paragraph (n)
Administrative Policy
15 September 2017 External T.I. 2017-0709331E5 - Vertical absorptive foreign merger
Three wholly-owned stacked subsidiaries of Canco in the same foreign jurisdiction (FA1 holding FA2 holding FA3) effect a merger (the “Merger”)...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 87 - Subsection 87(8) | disposition at FA1 level where simultaneous aborptive merger into it of FA2 and FA3 (held by FA2) | 199 |
4 March 2013 Internal T.I. 2012-0449371I7 - Downstream absorptive merger
In 2006, a wholly-owned CFA (FA1) of Canco merged with a wholly-owned subsidiary (FA2) of FA1, with FA2 as the surviving corporation under the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 87 - Subsection 87(8.2) | 252 |
Articles
Gordon Zittlau, "Corporate Reorganizations Involving Taxable Canadian Property – Foreign Merger Considerations", International Tax Planning (Federated Press), Vol. XX, No. 3, 2015, p. 1407
Taxable Canadian property rules may be engaged by upstream merger (pp. 1407-8)
This article will examine the Canadian tax implications of a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 87 - Subsection 87(8) | 332 |