Words and Phrases - "reflected"

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20 March 2025 External T.I. 2024-1042821E5 - Application of 237.5 - RUTT disclosure

Summary Under
Tax Topics - Income Tax Act - Section 237.5 - Subsection 237.5(1) - Reportable Uncertain Tax Treatment
the same uncertain tax treatment (UTT) must be reported in multiple successive returns if it spans several tax years/ UTT is “reflected” in the financials if it impacts them
Q.1 Multi-year RUTTs

Where the audited financial statements for a year reflect a recurring uncertain tax treatment (“UTT”) spanning multiple...

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Words and Phrases
reflected
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 237.5 - Subsection 237.5(2) whether RUTT is temporary or non-temporary is determined according to the accounting principles used 90

The Queen v. Consumers' Gas Co. Ltd., 87 DTC 5008, [1987] 1 CTC 79 (FCA)

Summary Under
Tax Topics - Income Tax Act - Section 181 - Subsection 181(3)

With respect to an argument of counsel that the accounting method used by the taxpayer in offsetting reimbursements received by it against the...

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Words and Phrases
reflected
Locations of other summaries Wordcount
Tax Topics - General Concepts - Accounting Principles 35
Tax Topics - Income Tax Act - Section 152 - Subsection 152(1) assessment is of dollar amount 87
Tax Topics - Income Tax Act - Section 13 - Subsection 13(7.1) payments made in the same manner as by private businesses were not “government assistance” 125