CRA Interpretations
List Of CRA Interpretations
CRA Interpretations – ITTN No. 37 – Safe Income Calculation – Treatment of Non-Deductible Expenses
February 15, 2008 Notice to the reader: This version is only available electronically. This is an HTML version of the original document. It is also available in other formats, including PDF (which is an exact rendition of the original). In This Issue Safe Income Calculation – Treatment of Non-Deductible Expenses The Income Tax Technical News is produced by
IC00-1R5 ARCHIVED – Voluntary Disclosures Program
Application 1. This information circular cancels and replaces Information Circular IC00-1R4, Voluntary Disclosures Program, dated March 21, 2014. 2. In this information circular, the term “taxpayer” includes an individual, an employer, a corporation, a partnership, a trust, a Goods and Services Tax/Harmonized Sales Tax (GST/HST) registrant/claimant or a registered exporter of softwood lumber products. 3. Unless otherwise
IC00-1R6 – Voluntary Disclosures Program
Application 1. The Voluntary Disclosures Program (VDP) applies to disclosures relating to income tax, source deductions, excise duties under the Excise Act, 2001, excise tax and GST/HST under the Excise Tax Act, as well as charges under the Air Travellers Security Charge Act and Softwood Lumber Products Export Charge Act, 2006. This information circular provides
IC01-1 Third-Party Civil Penalties
Foreword This information circular provides a framework for the application of third-party civil penalty provisions in section 163.2 of theIncome Tax Act and section 285.1 of the Excise Tax Act. The third-party civil penalty provisions evolved from a need to deter tax shelter or tax shelter-like promotions with inflated asset values and faulty assumptions. When the third-party civil penalty
IC05-1R1 Electronic Record Keeping
Preamble 1. This circular gives information and guidance to persons who use electronic business systems and who are required by law to keep books and records according to sections 230 and 230.1 of the Income Tax Act, section 87 of the Employment Insurance Act, and section 24 of the Canada Pension Plan. It does not reflect the requirements imposed by
IC06-1 Income Tax Transfer Pricing and Customs Valuation
Introduction 1. The purpose of this information circular is to address taxpayers’ question “Why can’t the same transfer price used for income tax purposes be used for customs purposes?” 2. This document outlines the similarities and differences between valuation for customs purposes (customs valuation) and transfer prices for income tax purposes (income tax transfer pricing),
IC07-1R1 Taxpayer Relief Provisions
Application 1. This information circular cancels and replaces Information Circular IC07-1, Taxpayer Relief Provisions, dated May 31, 2007. 2. In this information circular, the term taxpayer includes an individual, an employer or a payer, a corporation, a partnership, a trust, an estate, and an organization. All of these entities can ask for relief from the minister of
IC12-1 GST/HST Compliance Refund Holds
Application 1. In this information circular, the following terms apply: Insolvency practitioner refers to a trustee in bankruptcy, a receiver, or a liquidator, and every agent or other person administering, managing, winding up, controlling, or otherwise dealing with the property, business, estate, or income of a corporation, other than a shareholder, director, officer or employee of the
IC13-1R1 Pooled Registered Pension Plans (PRPP)
Pooled Registered Pension Plans (PRPP) This circular cancels and replaces IC13-1 dated February 18, 2013. ¶ 1. This circular explains the provisions of the Income Tax Act (ITA) and the Canada Revenue Agency (CRA) requirements for the registration of a pooled pension plan. Authority ¶ 2. Section 147.5 of the ITA contains the registration requirements for pooled pension plans, as well as the rules
IC13-2R1 Government programs collection policies
Introduction This information circular gives you a general overview of the government programs collection policies that the Canada Revenue Agency (CRA) has for individuals, businesses, and organizations that owe money other than taxes to the Crown. It will help you understand your rights and responsibilities when you deal with the CRA. The CRA uses the term “government programs”
IC13-3 Customs collections policies
Introduction This information circular gives you a general overview of the Customs collections policies of the Canada Revenue Agency (CRA) for individuals, businesses, and organizations that owe money to the Crown relative to goods imported into Canada. It will help you understand your rights and responsibilities when you deal with us. In this circular, we
IC18-1 Tax-Free Savings Accounts
Tax-Free Savings Accounts ¶ 1. This circular explains certain provisions of the Income Tax Act (ITA) that apply to tax-free savings accounts (TFSAs) and outlines the registration requirements of the Canada Revenue Agency (CRA) for issuers of TFSAs. Additional information is available in the publications listed in Part V below. Authority ¶ 2. Section 146.2 of
IC70-6R8 Advance Income Tax Rulings and Technical Interpretations
Advance Income Tax Rulings and Technical Interpretations Application 1. The Income Tax Rulings Directorate (Directorate) is the Canada Revenue Agency’s (CRA’s) authority for the interpretation of the Income Tax Act (Act), the Income Tax Regulations and all related statutes. The Directorate provides income tax technical interpretations (Technical Interpretations) and advance income tax rulings (Rulings). In addition, as part of its
IC71-14R3 The Tax Audit
The Tax Audit IC 71-14R3t This circular cancels and replaces Information Circular No. 71-14R2 dated February 5, 1979. 1. This circular describes the role, the policies and practices of the tax audit – the examination of taxpayers’ books and records to determine accurately the taxes, interest and penalties payable under the law. 2. While there
IC71-17R5 Guidance on Competent Authority Assistance Under Canada’s Tax Conventions
Guidance on Competent Authority Assistance Under Canada’s Tax Conventions NO.: 71-17R5 SUBJECT: Guidance on Competent Authority Assistance Under Canada’s Tax Conventions This circular replaces and cancels Information Circular 71-17R4 dated May 12, 1995. It has been revised, and expanded to include guidance for certain types of competent authority requests. Introduction 1. The Canada Revenue Agency (CRA) provides competent authority assistance pursuant
IC71-9R Unclaimed Dividends
Unclaimed Dividends IC 71-9R This circular cancels and replaces Information Circular 71-9. 1. Every broker and dealer in securities is required by Subsection 153(4) of the Income Tax Act and Part I of the Income Tax Regulations to remit to the Receiver General for Canada, within 60 days from the end of each taxation year,
IC72-13R8 Employees’ Pension Plans
Employees’ Pension Plans NO.: 72-13R8 Subject: EMPLOYEES’ PENSION PLANS 1. This circular replaces and cancels Information Circular 72-13R7 dated December 31, 1981. Current revisions are designated by vertical lines. 2. The purpose of this circular is to incorporate changes made to the administrative rules for the registration of pension plans since the publication of IC72-13R7.
IC72-17R6 Procedures Concerning the Disposition of Taxable Canadian Property by Non-Residents of Canada – Section 116
No. : IC72-17R6 Subject : Procedures concerning the disposition of taxable Canadian property by non‑residents of Canada – Section 116 This circular cancels and replaces Information Circular 72‑17R5, dated March 15,2005. Unless otherwise stated all references to a statute herein are to the Income Tax Act (the “Act”). General Information 1. Under section 116, non‑resident vendors (from now
IC72-22R9 Registered Retirement Savings Plans
Registered Retirement Savings Plans IC 72-22R9 This circular cancels and replaces Information Circular 72-22R8 dated March 18, 1991. 1. This circular interprets certain provisions of the Income Tax Act (the Act) that apply to registered retirement savings plans (RRSPs) and outlines the Department’s rules for companies that issue RRSPs. Additional information is available in the
IC72-5R2 Registered Supplementary Unemployment Benefit Plans
Registered Supplementary Unemployment Benefit Plans NO.: 72-5R2 Application This circular cancels and replaces Information Circular 72-5R, Registration of Supplementary Unemployment Benefit Plans, dated July 8, 1974. General ¶ 1. This circular informs employers, trustees, benefit consultants, and other interested parties about the provisions of the Income Tax Act (the Act) and the Canada Customs and Revenue Agency’s (CCRA) administrative rules