Words and Phrases - "gift"
1 February 2023 External T.I. 2022-0945221E5 - Directed gift to a municipality
Regarding the receipt of funds by a qualified donee that is a municipality from a registered charity where such funds would then be directed to a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts | done must have discretion as to use of donated funds for there to be a gift | 146 |
6 April 2003 External T.I. 2003-0054461E5 F - Traitement fiscal d'un cadeau
In indicating that an amount described as a “gift” could be business income to the recipient, CRA stated:
…IT-334R2[, para. 4] … states...
24 January 2019 External T.I. 2018-0773301E5 - Paragraph 69(1)(c) and Nominal Consideration
$1 consideration is specified in the legal documentation for a gift of property by a parent to a child solely to ensure the agreement is legally...
Fonds de solidarité des travailleurs du Québec (F.T.Q) v. The Queen, 2018 TCC 3, aff'd on s. 18(1)(a) grounds 2019 FCA 36
The appellant was the limited partner of a partnership (“SEC”) that had become insolvent during efforts to relaunch a paper mill close to the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | purpose of payment was to extricate from a regional economic-development obligation rather than to enhance business reputation | 224 |
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts | payment relieving of a correlative contractual obligation was not a gift | 125 |
Cassan v. The Queen, 2017 TCC 174
In rejecting (at para. 296) a Crown submission (summarized at para. 249) that “gift” required “detached and disinterested generosity”)...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts | common law gift was vitiated by loan to donor at unreasonably low rate | 793 |
| Tax Topics - Income Tax Act - Section 143.2 - Subsection 143.2(12) | although borrowing by taxpayers had a term of 9.3 years, they had a reasonable expectation of refinancing with the promoter’s assistance | 478 |
| Tax Topics - Income Tax Act - Section 143.2 - Subsection 143.2(7) - Paragraph 143.2(7)(a) | loans were not bona fide in that not handled with commerciality | 701 |
| Tax Topics - Income Tax Regulations - Regulation 7000 - Subsection 7000(2) - Paragraph 7000(2)(d) | no requirement to accrue interest on index-linked note in a year when the return thereon was not determinable | 605 |
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) - Subparagraph 20(1)(c)(i) | interest on loan to acquire LP units was deductible as there was a prospect of gross income being allocated by LP in 19 years’ time | 619 |
| Tax Topics - Statutory Interpretation - Realization Principle | amount should not be recognized until ascertainable | 73 |
S7-F1-C1 - Split-receipting and Deemed Fair Market Value
Meaning of "gift"
1.2 Under the common law, “a gift is a voluntary transfer of property owned by a donor to a donee, in return for which no...
French v. Canada, 2016 FCA 64
In his 2000 to 2002 taxation years, the taxpayer made gifts to a registered charity that were funded from personal funds and from loans tied to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Statutory Interpretation - Interpretation Act - Section 8.1 | Parliament may have intended what constitutes a gift outside Quebec to be partly informed by the Civil Code | 173 |
26 June 2013 External T.I. 2013-0490711E5 F - Disposition en contrepartie de 1$
Could the acquisition of a property for consideration of one dollar qualify as an acquisition by gift for purposes of s. 69(1)(c)? The Directorate...
16 April 2013 External T.I. 2013-0477981E5 F - Interpretation of Gift
A Quebec collective agreement requires each employee to annually pay a specified amount to a pre-established registered charity whose mission...
The Queen v. Littler, 78 DTC 6179, [1978] CTC 235 (FCA)
A sale by the taxpayer to his sons of shares for their market price at a time when the taxpayer had insider knowledge that an offer would be made...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Other Legislation/Constitution - Federal - Federal Courts Rules - Rule 408(1) | 107 | |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | 26 |
Berry v. Warnett, [1980] T.R. 299 (C.A.), rev'd [1980] BTC 239 (HL)
"[T]he ordinary primary meaning of 'gift' is a voluntary transfer of property made without consideration."