Words and Phrases - "loan"
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...
CAE Inc. v. The Queen, 2021 TCC 57, aff'd 2022 CAF 178
CAE, which was engaged in manufacturing flight simulator systems, incurred over $700 million in R&D expenditures on further developing such...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 127 - Subsection 127(9) - Government Assistance | an unconditionally repayable loan with a 2.5% yield was government assistance | 312 |
| Tax Topics - Income Tax Act - Section 37 - Subsection 37(1) - Paragraph 37(1)(d) | loan with non-commercial terms was government assistance when advanced | 283 |
16 November 2006 External T.I. 2006-0203131E5 F - Régime à traitement différé
An employee signed a deferred salary leave contract for the period from June 29, 2002, to December 29, 2006, with his leave being taken from May...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 6801 - Paragraph 6801(a) - Subparagraph 6801(a)(v) | failure for leave to be taken at the end of the deferral period | 142 |
13 June 2012 External T.I. 2011-0416781E5 F - Entente contractuelle particulière
A cash pooling agreement (the “first contract”) stipulates that no interest is payable to a financial institution when the combined bank...
5 July 2012 Internal T.I. 2010-0388551I7 F - Fiducie - retour de sommes
A family trust whose beneficiaries included Father, Mother, two sons (Son A and Son B) and the wife of Son A (Daughter-in-law A) but not the wife...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) | s. 75(2) does not apply to an estate freeze as the corp does not own its treasury shares issued to the trust | 164 |
| Tax Topics - Income Tax Act - 101-110 - Section 105 - Subsection 105(1) | income distributed to daughter-in-law who in fact was not a beneficiary includible in her income under s. 105(1) but not deductible by trust under s. 104(6) | 166 |
| Tax Topics - Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(6) | Foisy test of mental element accepted | 238 |
Meilleur v. The Queen, 2016 TCC 287
Beginning in 2006, the two married taxpayers (Susan and Barry) used their retirement funds and borrowed money to make advances to two real estate...
26 April 2016 Internal T.I. 2015-0623571I7 - one-time salary transition payment
After stating that
A loan is generally defined as delivery by one party, and receipt by another party, of a sum of money upon agreement, express...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 5 - Subsection 5(1) | advance to employee is current s. 5 income | 239 |
| Tax Topics - Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(n) | deduction for repayment of transitional advance | 163 |
13 June 2012 Internal T.I. 2012-0448961I7 F - Paiements en trop faits par un employeur
An employee was on extended sick leave but nonetheless received remuneration from the payroll service, which was not informed of the leave. On the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(n) | salary mistakenly paid after expiry of sick leave period and then repaid, treated as clerical error rather than s. 8(1)(n) adjustment | 288 |
17 November 1999 External T.I. 9901265 - 97(1) AND A RESERVE
"[W]here and individual transfers property to a partnership under subsection 97(2) of the Act and receives, in addition to a partnership interest...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 97 - Subsection 97(2) | 112 |
21 March 2001 Internal T.I. 2000-0056297 - TENANT INDUCEMENT INVESTMENT ALLOWANCE
Where landlords agree to pay tenant inducements over a period of twenty years, the taxpayers would account for the amounts payable as "secured...
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...
12 March 1992 External T.I. 5-910839
With respect to an advance made by a Canadian licensor to a U.S. licensor that was repayable only out of royalties to be earned by the licensor,...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(d) - Subparagraph 212(1)(d)(vi) | 82 |
5 November 1999 Internal T.I. 9910637 - MAKING OF LOANS
Where a promissory note is issued to pay a dividend, the creditor (in this case, an NRO) will not be considered to have made a loan because no...
29 August 2011 Internal T.I. 2009-0336671I7 - Derivative
Interest rate swap transactions between a controlled foreign affiliate of the taxpayer ("BCo") and a foreign financial institution specializing in...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Timing | 193 |
Merchant v. The Queen, 2009 DTC 282, 2009 TCC 31
In finding that loans made to the taxpayer by his employer were employment income to him when received, Webb, J. stated (at para. 22):
"in a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 5 - Subsection 5(1) | 137 |
Banner Pharmacaps NRO Ltd. v. The Queen, 2003 DTC 245, 2003 TCC 82, aff'd 2003 FCA 367, 2003 DTC 5642
The taxpayer was not considered to be engaged in a business of making loans by virtue of the Canadian corporation of which it was a sole...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Timing | 95 |
Loman Warehousing Ltd. v. Canada, 2000 DTC 6610 (FCA), aff'g 99 DTC 1113, Docket: 98-201-IT-G (TCC) infra
Noël JA, before rejecting the taxpayer's submission that the post-1993 version of s. 20(1)(p)(ii) contemplated a taxpayer whose ordinary business...
Autobus Thomas Inc. v. The Queen, 2000 DTC 6299 (FCA), briefly aff'd 2001 DTC 5665, 2001 SCC 64
The taxpayer partly financed the acquisition of buses by means of its bank purchasing conditional sales contracts from a manufacturer. Marceau...
Langhammer v. The Queen, 2001 DTC 45 (TCC)
Before going on to find that losses sustained by the taxpayer after investing in bonds of a condominium development were deductible under s....
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(p) - Subparagraph 20(1)(p)(ii) | occasional loans were money-lending business given that done similarly to a money lender | 259 |
Alberta and Southern Gas Co. Ltd. v. The Queen, 76 DTC 6362, [1976] CTC 639 (FCTD), aff'd 77 DTC 5244 [1977] CTC 388 (FCA), aff'd 78 DTC 6566, [1978] CTC 780, [1979] 1 S.C.R. 36
In finding that an agreement, under which in consideration for a payment of $4 million the taxpayer obtained certain rights and privileges to...
Canada Deposit Insurance Corp. v. Canadian Commercial Bank, [1992] 3 S.C.R. 558
A syndicate including the Canadian Deposit Insurance Corportion and six major Canadian banks agreed to provide financial support to Canadian...
In re Touquoy Gold Mining Co. (1906), 1 E.L.R. 142 (Nova Scotia)
In finding that securities issued by a corporation that were referred to in various corporate documents as "preferred shares" and were evidenced...
Cooper v. The Queen, 88 DTC 6525, [1989] 1 CTC 66 (FCTD)
The taxpayer, who was a residuary beneficiary and executor of his mother's estate, was held not to have received a benefit by virtue of an...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Illegality | income tax consequences attaching to illegal loan | 77 |
| Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) | interest-free loan | 114 |