Subsection 67.7(1)
Non-Compliant Amount
Articles
Joint Committee, "Subject: Proposed section 67.7 of the Income Tax Act", 5 February 2024 Joint Committee Submission
Wording of non-compliant amount does not reflect different timing for various deductions
- The wording, “outlays made, or expenses incurred, in...
Residential Property
Administrative Policy
9 October 2025 APFF Financial Planning Roundtable, Q.9
The definition of a “flipped property” in s. 12(13)(a) refers to a “housing unit;” whereas the definition of “non-compliant short-term...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 12 - Subsection 12(13) - Paragraph 12(13)(a) | “housing unit” is restricted to a single housing unit | 100 |
Short-Term Rental
Articles
Joint Committee, "Subject: Proposed section 67.7 of the Income Tax Act", 5 February 2024 Joint Committee Submission
Limiting to short-term rentals by the taxpayer
- It would seem appropriate to add the limitation that the short-term rental definition refers to...
Subsection 67.7(2)
Articles
Joint Committee, "Subject: Proposed section 67.7 of the Income Tax Act", 5 February 2024 Joint Committee Submission
Advantage to non-residents
- Non-residents who are not subject to Part I tax have a tax advantage over Canadian residents regarding the taxation of...
Subsection 67.7(4)
Articles
Joint Committee, "Subject: Proposed section 67.7 of the Income Tax Act", 5 February 2024 Joint Committee Submission
Unlimited assessment period
- Quaere whether it is necessary to provide no time limit on CRA assessments under s. 67.7.