Sale of Tax Losses The Act contains many provisions that are designed to ensure that a corporation’s tax losses cannot be used by unrelated [or sometimes unaffiliated] persons unless they continue to carry on the corporation’s business with a reasonable expectation of profit. However, these loss restriction rules generally only apply when the unrelated persons […]
Income Tax Folio S3-F2-C1, Capital Dividends Series 3: Property, Investments and Savings Plans Folio 2: Dividends Chapter 1: Capital Dividends Summary This Chapter discusses capital dividends and the capital dividend account (CDA). The CDA keeps track of various tax-freesurpluses accumulated by a private corporation. These surpluses may be distributed tax-free in the form of capital dividends to the
Income Tax Folio S6-F2-C1, Disposition of an Income Interest in a Trust Series 6: Trusts Folio 2: Beneficiaries Chapter 1: Disposition of an Income Interest in a Trust Summary This Chapter discusses the disposition of an income interest in a trust and the circumstances under which the proceeds are required to be included in the
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NO: IT-269R4 DATE: April 24, 2006 SUBJECT: INCOME TAX ACT Part IV Tax on Taxable Dividends Received by a Private Corporation or a Subject Corporation REFERENCE: Sections 186, 186.1 and 186.2 (also sections 112, 113 and 149, subsections 129(3), 187(1), 227(14) and 227(16) of the Income Tax Act (the “Act”) and Part LXVII of the Income Tax Regulations (the “Regulations))