Subsection 19(1)
Cases
Gastrebski v. The Queen, 94 DTC 6355 (FCA)
The taxpayer, who was hospitalized and treated as an out-patient for severe depression until March 1973 and then returned to work until 1983, when...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Statutory Interpretation - Interpretation Act - Section 12 | 42 | |
| Tax Topics - Other Legislation/Constitution - Federal - Tax Court of Canada Act - Section 18.24 | 89 |
Subsection 20(1)
Cases
Fletcher Challenge Canada Ltd. v. The Queen, 2000 DTC 6437 (FCA)
As a consequence of an amendment to the Forest Act (British Columbia) which gave holders of existing timber rights and privileges the entitlement...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Undepreciated Capital Cost - A | no cost because no exchange | 154 |
Administrative Policy
10 June 2003 External T.I. 2003-0017065 F - Disp. of Property owned on Dec 31, 71
Mr. X (who did not make an election pursuant to s. 26(7)) owned a rental property (the “immovable") which he had acquired in 1965 at a cost of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 85 - Subsection 85(5) | the capital cost is not reduced by s. 85(5) for non-CCA/recapture purposes | 858 |
Paragraph 20(1)(a)
Administrative Policy
27 July 2004 External T.I. 2004-0075751E5 - Recaptured Capital Cost Allowance
Where a building purchased prior to 1972 had a capital cost of $75,000, $40,000 of capital cost allowance was deducted on the building prior to...
Paragraph 21(3)(a)
Cases
Tekarra Lodge Ltd. v. The Queen, 85 DTC 5227, [1985] 1 CTC 334 (FCTD)
S.21(3)(a) avoids a distinction between a "licence" and a "lease". A government lease for use of lands as a "bungalow camp" was found to be...
Subsection 26(3)
Administrative Policy
26 June 2009 Internal T.I. 2009-0319501I7 F - Résidence reçue en héritage - PBR
The adjusted cost base of property inherited by the taxpayers prior to December 31, 1971 was to be determined based on its fair market value on...
16 March 1995 Internal T.I. 9429596 - PERSONAL USE PROPERTY
Where a taxpayer's cottage had a pre-1972 cost of $20,000, a V-day value of $50,000 and a current fair market value of $90,000, on a purely...
8 April 1991 T.I. (Tax Window, No. 3, p. 2, ¶1259)
Where an individual transfers his shares of an operating company having a V-day value between their cost and fair market value, and elects under...
IT-84 "Capital Property Owned on December 31, 1971 - Median Rule (Tax-Free Zone)".
Subsection 26(5)
See Also
Davidson Estate v. The Queen, 96 DTC 1652, [1996] 3 CTC 2900 (TCC)
The estate of a deceased taxpayer (which was deemed by s. 248 to be a person) was found to be dealing at arm's length with the taxpayer's...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 251 - Subsection 251(1) - Paragraph 251(1)(c) | 78 |
Administrative Policy
8 November 1994 Internal T.I. 9426387 - TRANSFER OF PRE 1972 PROPERTY TO A TRUST
The words "or events" were added in ITAR 26(5) for greater certainty in order to confirm that the provision applied to bequests.
Subsection 26(7)
Cases
The Queen v. Adelman, 93 DTC 5376, [1993] 2 CTC 207 (FCTD)
The failure of the taxpayer to make a purported election under s. 26(7) resulted in the cost of his shares being determined without reference to...
Subsection 26(26)
Administrative Policy
S4-F5-C1 - Share for Share Exchange
1.18 In respect of shares which are rolled over under subsection 85.1(1), subsection 26(26) of the ITAR provides that where the exchanged...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 85.1 - Subsection 85.1(1) | 412 | |
| Tax Topics - Income Tax Act - Section 85.1 - Subsection 85.1(2.1) | 26 |
Subsection 26(27)
Administrative Policy
ATR-22R (14 April 89)
S.26(27) does not apply to a change of common shares into special shares pursuant to a s. 86 reorganization of a pre-1972 company, where the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Fair Market Value - Shares | 109 | |
| Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) | 35 | |
| Tax Topics - Income Tax Act - Section 86 - Subsection 86(1) | 65 |
Subsection 29(29)
Cases
The Queen v. Pan Ocean Oil Ltd., 94 DTC 6412, [1994] 2 CTC 143 (FCA)
The taxpayer made continual outlays on scientific research carried out by its personnel in order to identify improvements to its methods for...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(a) | 187 |