CRA publishes the 9 October 2025 APFF Financial Planning Roundtable

22 January 2026 - 11:19pm
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CRA has published the balance of the final version of the 9 October 2025 APFF Financial Planning Roundtable (Q.8 and Q.9 were published the previous week along with all of the 2025 “regular” Roundtable). There were essentially no changes from the provisional answers given in October (and a minor expansion to the wording of the question posed in Q.11).

For convenience, the table below links to these Roundtable items and the summaries which we prepared in October.

Summaries under Descriptor
9 October 2025 APFF Financial Planning Roundtable Q. 1, 2025-1070231C6 F - Impôt à payer sur les placements interdits ou non admissibles et remboursement d’impôt Income Tax Act - Section 207.07 - Subsection 207.07(2) allowable refund arising in a subsequent year is to be dealt with separately by CRA pursuant to s. 207.07(2), rather than set-off against the s. 207.04(1) tax under s. 207.07(1)
Income Tax Act - Section 207.04 - Subsection 207.04(4) there is no set-off of an allowable refund of s. 207.04(1) tax of a controlling individual against that tax if the allowable refund arose in the following year
9 October 2025 APFF Financial Planning Roundtable Q. 2, 2025-1068491C6 - Obligation de produire un Feuillet T5 Income Tax Regulations - Regulation 201 - Subsection 201(4) Reg. 201(4) reporting of accrued interest is backed out of subsequent Reg. 201(1)(b)(i) reporting of interest-coupon payment
Income Tax Regulations - Regulation 201 - Subsection 201(1) - Paragraph 201(1)(b) - Subparagraph 201(1)(b)(i) requirement for T5 reporting by the issuer of a fully registered bond both any s. 12(4) interest on stripped coupons and of the interest-coupon payments
9 October 2025 APFF Financial Planning Roundtable Q. 3, 2025-1068401C6 - Déductibilité des intérêts et règle générale anti-évitement Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) - Subparagraph 20(1)(c)(i) restructuring to create direct income-producing use did not contravene GAAR
Income Tax Act - Section 245 - Subsection 245(4) structuring to satisfy the s. 20(1(c) direct-use test is not contrary to the amended GAAR
9 October 2025 APFF Financial Planning Roundtable Q. 4, 2025-1061831C6 F - Transfert direct à un régime enregistré d’épargne retraite dans les 60 premiers jours de l’année et l’Annexe 7 Income Tax Act - Section 60 - Paragraph 60(l) - Subparagraph 60(l)(v) a s. 60(l)(v) RRIF-to-RRSP direct transfer in the first 60 days of the year must be reported on the Sched. 7 for the previous taxation year
9 October 2025 APFF Financial Planning Roundtable Q. 5, 2025-1062481C6 F - Revenus assujettis à l’impôt sur le revenu fractionné Income Tax Act - Section 120.4 - Subsection 120.4(2) the payer of TOSI does not have to identify it as such on its tax-reporting slips
Income Tax Regulations - Regulation 201 - Subsection 201(1) no notation required on a T5 or T3 slip that the income is TOSI
9 October 2025 APFF Financial Planning Roundtable Q. 6, 2025-1061811C6 F - Application du paragraphe 12(12) de la Loi de l’impôt sur le revenu à une perte Income Tax Act - Section 12 - Subsection 12(14) s. 12(14) does not deny losses on the disposition of housing units
9 October 2025 APFF Financial Planning Roundtable Q. 7, 2025-1062470C6 - Vente partielle et revente précipitée Income Tax Act - Section 12 - Subsection 12(13) - Paragraph 12(13)(a) - Subparagraph 12(13)(a)(i) a housing unit includes a co-ownership interest therein for purposes of the flipped property rules
9 October 2025 APFF Financial Planning Roundtable Q. 8, 2025-1071561C6 F - Revente précipitée et date de disposition Income Tax Act - Section 12 - Subsection 12(13) - Paragraph 12(13)(b) deferring the date of disposition of a housing unit to well after the sale date and 366 days after the acquisition date would avoid the flipped property rules
9 October 2025 APFF Financial Planning Roundtable Q. 9, 2025-1071451C6 F - Règle sur les reventes précipitées et location à court terme Income Tax Act - Section 12 - Subsection 12(13) - Paragraph 12(13)(a) “housing unit” is restricted to a single housing unit
Income Tax Act - Section 67.7 - Subsection 67.7(1) - Residential Property a room or a basement can qualify as a “residential property”
9 October 2025 APFF Financial Planning Roundtable Q. 10, 2025-1061821C6 F - Prestation de pension de la sécurité de la vieillesse reçue dans une année d’imposition antérieure et qui doit être remboursée Income Tax Act - Section 60 - Paragraph 60(n.2) estate is not entitled to an s. 60(1)(n) or (n.2) deduction when it repays an excess OAS benefit that was included in the deceased’s income
Income Tax Act - Section 60 - Paragraph 60(n) an estate is not entitled to deduct an OAS overpayment to the deceased that it repays
9 October 2025 APFF Financial Planning Roundtable Q. 11, 2025-1068471C6 F - CELIAPP et acquisition d’une habitation admissible en partie et non en totalité Income Tax Act - Section 146.6 - Subsection 146.6(1) - Qualifying Withdrawal - Paragraph (c) the acquisition of an undivided interest in a qualifying home can be accommodated
9 October 2025 APFF Financial Planning Roundtable Q. 12, 2025-1068481C6 F - CELIAPP – Acquisition par donation et retrait admissible Income Tax Act - Section 146.6 - Subsection 146.6(1) - Qualifying Withdrawal - Paragraph (c) the gift of a qualifying home by notarized deed to the FHSA holder would satisfy para. (c)
9 October 2025 APFF Financial Planning Roundtable Q. 13, 2025-1070191C6 F - Retrait d’un placement par opération de swap Income Tax Act - Section 207.01 - Subsection 207.01(1) - Swap Transaction - Paragraph (c) the transfer of a registered plan investment to the controlling individual shortly before its becoming non-qualified is a swap transaction
Income Tax Act - Section 207.04 - Subsection 207.04(4) the transfer of a registered plan investment to the controlling individual shortly before its becoming non-qualified is a swap transaction subject to non-refundable tax