Words and Phrases - "disclaimer"
Lewski v Commissioner of Taxation, [2017] FCAFC 145
since the taxpayer through her husband as agent had knowledge of an income distribution, her subsequent purported disclaimer was not immediate
The Commissioner of Taxation denied a claimed loss carryforward of a trust which had declared a distribution of all its income for a particular...
Words and Phrases
disclaimer| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Incurring of Expense | obligation to pay purchase price was incurred on agreement date rather than subsequent closing | 430 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) | an alternate resolution that the taxpayer was not entitled to an income distribution if Revenue denied a trust deduction made her entitlement contingent and non-includible | 374 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) | a trust income declaration that was subject to a tax contingency did not result in an income inclusion to the beneficiary | 149 |
| Tax Topics - General Concepts - Agency | knowledge of agent imputed to principal | 217 |
Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Beneficiaries Resident in Canada", Chapter 4 of Canadian Taxation of Trusts (Canadian Tax Foundation), 2016.
Requirements for valid disclaimer of income interest (p. 340)
A taxpayer who executes a valid disclaimer of an income interest in a trust is...
Words and Phrases
disclaimerBiderman v. The Queen, 2000 DTC 6149, 2001 FCA 269 (FCA)
purported disclaimer was release or surrender
The taxpayer, who had tax debts on his death, made an "informal" disclaimer of his beneficial interest under the estate of his wife five days...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 160 - Subsection 160(1) | conduct subsequent to death inconsistent with disclaimer | 150 |
Murphy Estate v. The Queen, 2015 TCC 8
Summary Under
Tax Topics - General Concepts - Effective Datedisclaimer has retroactive effect
An estate unsuccessfully argued that the effect of the settlement of some estate litigation pursuant to a consent order, which provided for the...
Words and Phrases
disclaimer| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 146 - Subsection 146(8.8) | consent order for settlement of estate litigation did not have retroactive effect | 201 |