Administrative Policy
8 November 2022 Internal T.I. 2022-0941391I7 - (Re)determination of section 125.7 applications
After noting that the instructions provided by CRA both on the application for the CEWS or CRHP benefit and the CRA website indicated that a separate application must be filed for each RP account, the Directorate indicated that such separate applications aggregating to an overall deemed overpayment for a qualifying period should be considered to constitute an application for the qualifying period in the prescribed form and manner as required by para. (a) of the “qualifying entity” definition. In this regard, it noted that the s. 248(1) definition of “prescribed” included “the manner of filing a form, authorized by the Minister.”
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(3.4) | no time limit on making s. 152(3.4) determination/ applications can be made on RP account basis | 198 |
| Tax Topics - Income Tax Act - Section 125.7 - Subsection 125.7(1) - Qualifying Entity - Paragraph (a) | application for the benefit could be made on an RP by RP account basis | 150 |
| Tax Topics - Income Tax Act - Section 125.7 - Subsection 125.7(5) - Paragraph 125.7(5)(a) | movements of upward or downward adjustments between various RP accounts by redeterminations subject to s. 125.7(5)(a) limitation | 128 |
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(1.2) | application mutatis mutandis of normal reassessment periods | 148 |
| Tax Topics - Income Tax Act - Section 125.7 - Subsection 125.7(16) | s. 125.7(16) does not allow the extension of the time for amending an application, and does not accord the discretion to amend an election | 105 |
| Tax Topics - Income Tax Act - Section 160.1 - Subsection 160.1(1) | no time limitation on s. 160.1(1) assessment | 42 |
16 May 1994 External T.I. 9401865 - MEANING OF PRESCRIBED AND AUTHORIZED FOR PENALTY PURPOSE
"Both the information contained on a form and the form itself can be considered 'prescribed' even though the actual format of the form may not be prescribed by the Minister. The main difference between a prescribed form and an authorized form is that the former must comply with all the printing and format specifications set out by the Minister whereas there is more flexibility in the format of the latter. Consequently, the information required to be filed with the return, such as the T2S(1), is prescribed information regardless of whether the format of the form is prescribed or authorized"
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 163 - Subsection 163(1) | 46 |
12 October 89 T.I. (March 1990 Access Letter, ¶1157)
In practice, RC will not consider an election to be invalid merely because it has been filed on an outdated form. Instead, RC will ask the taxpayer to file the election on the up-to-date form and consider that that election has been filed on the date of filing of the first form. However, some forms indicate that the election will be invalid if filed on the previous version of the form.