Translations of recent severed letters

Bundle Date Translated severed letter Summaries under Summary descriptor
2015-12-09 9 October 2015 APFF Roundtable Q. 15, 2015-0595641C6 F - Surplus Stripping and GAAR Income Tax Act - Section 245 - Subsection 245(4) GAAR did not apply where a taxpayer deliberately triggered the application of s. 55(2)
9 October 2015 APFF Roundtable Q. 16, 2015-0595801C6 F - At-risk amount Income Tax Act - Section 96 - Subsection 96(2.2) - Paragraph 96(2.2)(a) a part disposition of a partnership interest results in an anomalous pro rata reduction in the partner’s at-risk amount for the year of disposition
Income Tax Act - Section 96 - Subsection 96(1.01) life is tough in the big city
9 October 2015 APFF Roundtable Q. 17, 2015-0595811C6 F - Application of 96(1.1) Income Tax Act - Section 96 - Subsection 96(1.1) income allocated under s. 96(1.1) can have specific sourcing, e.g., as dividend income
9 October 2015 APFF Roundtable Q. 18, 2015-0595821C6 F - Ss. 96(1.01) and s. 103 Income Tax Act - Section 103 - Subsection 103(1.1) s. 103 can be applied to reallocate income to a deemed s. 96(1.01) partner
9 October 2015 APFF Roundtable Q. 19, 2015-0595621C6 F - Cash pooling and subsection 15(2) Income Tax Act - Section 15 - Subsection 15(2.6) permitted use of FIFO to determine if debt repayments satisfy s. 15(2.6)
9 October 2015 APFF Roundtable Q. 20, 2015-0595681C6 F - Avantages imposables / dépenses d’entreprise Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) employer-provided parties, bike stands and internal recreation areas generally not taxable benefits
9 October 2015 APFF Roundtable Q. 21, 2015-0598291C6 F - Filing deadline for various forms Statutory Interpretation - Interpretation Act - Section 26 where a return filing deadline falls on a Saturday, the deadline for related forms also is extended to the Monday
Income Tax Act - Section 85 - Subsection 85(1) where a return filing deadline falls on a Saturday, the deadline for the T2057 also is extended to the Monday
9 October 2015 APFF Roundtable Q. 22, 2015-0598301C6 F - Extension of time to file Income Tax Act - Section 165 - Subsection 165(1) extension of individuals' return deadline also extends objection deadline
9 October 2015 APFF Roundtable Q. 23, 2015-0598311C6 F - Excessive eligible dividend designation Income Tax Act - Section 185.1 - Subsection 185.1(2) filing of s. 185.1(2) election in (non-prescribed) manner
9 October 2015 APFF Roundtable Q. 24, 2015-0598261C6 F - Calcul du revenu de placement total - annexe 7 Income Tax Act - Section 129 - Subsection 129(4) - Aggregate Investment Income allocation of investment counselling fees as between interest and dividends
9 October 2015 APFF Roundtable Q. 25, 2015-0598321C6 F - Omission of deducting a dividend under 112(1) Income Tax Act - Section 152 - Subsection 152(1) IC 75-7R3 still applies to requests for refunds for errors made in already-filed returns
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 1, 2015-0588941C6 F - Critical illness insurance Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(a) - Subparagraph 39(1)(a)(iii) critical illness policy transferred free of capital gains tax
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 2, 2015-0595841C6 F - Stock option, disposition, newly-acquired security Income Tax Act - Section 7 - Subsection 7(1.31) shares acquired on option exercise must be disposed of in one transaction to avoid basis averaging
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 3, 2015-0588951C6 F - Deductibility of interest – ss. 20.1(1) Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) no source disappearance where interest-free advance to sub is forgiven
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 4, 2015-0588971C6 F - T1135 and voluntary disclosure Income Tax Act - Section 220 - Subsection 220(3.1) currently no waiver of T1135 penalty before 10 years previously
Income Tax Act - Section 162 - Subsection 162(7) CRA is studying whether the $2,500 penalty for late T1135 filings applies automatically
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 5, 2015-0588981C6 F - Foreign currency stock market transactions Income Tax Act - Section 261 - Subsection 261(2) CRA considers that NYSE stock trades should be translated at the noon exchange rate on the settlement date
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 6, 2015-0595851C6 F - Income of a trust payable to a beneficiary Income Tax Act - Section 104 - Subsection 104(24) CRA will not accommodate a trust which merely distributes all it can
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 7, 2015-0589001C6 F - Charities Registration Process Income Tax Act - Section 248 - Subsection 248(1) - Registered Charity complete applications may speed application processing by four months
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 8, 2015-0593091C6 F - Assumption of a debt by a beneficiary of a trust Income Tax Act - Section 107 - Subsection 107(2) CRA generally accepts that loss of a s. 107(2) rollover can be avoided, where a trust owes debt to a capital beneficiary, by refinancing the debt with a bank
9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 9, 2015-0596611C6 F - Transfer 70(6) Income Tax Act - Section 70 - Subsection 70(6) non-application if replacement property distributed to spousal trust
2015-12-02 2 November 2015 External T.I. 2014-0558991E5 F - Loan from an Amateur Athlete Trust Income Tax Act - Section 143.1 - Subsection 143.1(1.2) - Paragraph 143.1(1.2)(d) genuine loan to athlete with adequate prospect of repayment not a transfer of property
15 December 2014 Internal T.I. 2014-0547191I7 F - Chantier particulier
15 December 2014 Internal T.I. 2014-0544121I7 F - Chantier particulier Income Tax Act - Section 6 - Subsection 6(6) work engagement ceased to be temporary based on a change in circumstances
4 March 2015 Internal T.I. 2014-0527751I7 F - Soutien de revenu accordé aux individus Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(r) includes amounts received under the active employment measures of Emploi-Québec
18 February 2015 External T.I. 2012-0471731E5 F - Déductibilité du droit d’usage pour automobile Income Tax Act - Section 6 - Subsection 6(2) no reduction in benefit amount for benefits provided by employee to employer
Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(f) reduced auto enjoyment not an expenditure
18 February 2015 External T.I. 2012-0466691E5 F - Revenu d’un Indien hors réserve Other Legislation/Constitution - Federal - Indian Act - Section 87 fact that work performed by non-reserve Indian was for benefit of reserve Indians was insufficient connecting factor
15 December 2014 Internal T.I. 2012-0445361I7 F - Remboursement de frais de déménagement Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) reimbursement of moving expenses not a taxable benefit if such moving expenses otherwise deductible under s. 62 which, in the case of multiple moves, can turn on whether there is ordinary residence at each location
Income Tax Act - Section 2 - Subsection 2(1) criteria for determining “ordinarily resides” under s. 62 (coterminous with “ordinarily resident” under s. 250(3))
Income Tax Act - Section 248 - Subsection 248(1) - Eligible Relocation expenses re selling a Canadian home after a 2nd relocation abroad are non-deductible if no ordinary residence at 1st location abroad
2015-11-25 3 November 2015 External T.I. 2015-0584261E5 F - Blood relationship - step brother Income Tax Act - Section 252 - Subsection 252(1) - Paragraph 252(1)(c) step brothers are related
2015-11-11 30 September 2015 External T.I. 2015-0590501E5 F - Spousal sharing Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts gift allocation between spouses still permitted after 2015
15 September 2015 External T.I. 2015-0583221E5 F - Redemption by a cooperative of its own shares Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(i) no gain to cooperative corporation from redemption of its own preferred shares
2 October 2015 External T.I. 2015-0595111E5 F - Amount paid pursuant to 104(24) Income Tax Act - Section 104 - Subsection 104(24) amount payable can include a payment in kind if authorized by trust deed
2015-10-07 20 August 2015 External T.I. 2015-0581681E5 F - Non-resident trust rules Income Tax Act - Section 248 - Subsection 248(1) - Corporation Liechtenstein Foundation a trust
Income Tax Act - Section 94 - Subsection 94(1) - Connected Contributor Liechtenstein Foundation with Canadian-resident beneficiary not subject to s. 94(3)
2015-09-30 9 September 2015 External T.I. 2014-0563611E5 F - Call Centre - Location of the services performed Income Tax Regulations - Regulation 105 - Subsection 105(1) non-resident call centre not rendering services in Canada

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