Section 67.7

Subsection 67.7(1)

Wording of non-compliant amount does not reflect different timing for various deductions

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(1) - Short-Term Rental		89
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(4)		26
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(2)		34

Limiting to short-term rentals by the taxpayer

It would seem appropriate to add the limitation that the short-term rental definition refers to...

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(1) - Non-Compliant Amount		101
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(4)		26
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(2)		34

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...

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(1) - Non-Compliant Amount		101
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(1) - Short-Term Rental		89
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(4)		26

Unlimited assessment period

Quaere whether it is necessary to provide no time limit on CRA assessments under s. 67.7.

Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(1) - Non-Compliant Amount		101
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(1) - Short-Term Rental		89
Tax Topics - Income Tax Act - Section 67.7 - Subsection 67.7(2)		34