Words and Phrases - "advance"
22 October 2001 External T.I. 2001-0070715 F - ALLOCATIONS AUTOMOBILES
An employer was required to withhold pursuant to s. 153(1) on fixed automobile allowance paid monthly even though, at the end of the year, it...
15 April 2003 Internal T.I. 2002-0176687 F - IMPOT DES GRANDES SOCIETES AVANCES
Customers of the corporation paid for services in advance, which the corporation showed as a liability on its balance sheet but deducted as a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 181.2 - Subsection 181.2(3) - Paragraph 181.2(3)(c) | prepaid revenues deducted under s. 20(6) were not a reserve | 185 |
11 May 2005 Roundtable, 2005-0118731C6 F - Contrat avec une société d'affacturage
A factoring company advances sums to Corporation A at a discount to the face value of the discounted receivables, and then applies the amounts...
21 September 2007 External T.I. 2007-0229191E5 F - Agent de voyages & impôt de la partie I.3
Quebec and Ontario travel agents were required by provincial legislation to hold funds collected from clients for services to be rendered to them...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 181 - Subsection 181(3) - Paragraph 181(3)(b) - Subparagraph 181(3)(b)(i) | customer advances received by travel agents and reported as deferred revenue in their balance sheets were required to be included in taxable capital even though amounts held in trust | 109 |
26 April 2016 Internal T.I. 2015-0623571I7 - one-time salary transition payment
An employer is considering changing its payroll system to a payment-in-arrears system, so that employees will be paid for work that was done two...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(n) | deduction for repayment of transitional advance | 163 |
| Tax Topics - Income Tax Act - Section 80.4 - Subsection 80.4(1) | employee advance not a “loan” | 123 |
13 January 2012 Internal T.I. 2011-0414111I7 F - Deemed Interest Incomes - Exception 17(8)
Where a taxable Canadian corporation makes a non-interest bearing loan to a controlled foreign affiliate (CFA 1) which, in turn, uses the proceeds...
TransCanada Pipelines Ltd. v. Minister of Revenue (1992), 62 O.A.C. 105
The respondent (a pipeline company) agreed to purchase certain minimum quantities of gas each year. If it was unable to take delivery of the...
Oerlikon Aérospatiale Inc. v. R., 99 DTC 5318, [1999] 4 CTC 358 (FCA)
The taxpayer financed its work on the manufacture of defence products under two contracts by receiving advances from the prime contractor or an...
Federated Cooperatives Ltd. v. The Queen, 2001 FCA 217, 2001 DTC 5414
Bankers acceptances held by the taxpayer were not "advances" to the issuer because the issuer had no obligation to repay the same sum of money to...