18(1)(b)

Income Tax Folio S3-F4-C1, General Discussion of Capital Cost Allowance

Series 3:  Property, Investments and Savings Plans Folio 4: Capital Cost Allowance Chapter 1: General Discussion of Capital Cost Allowance Summary Capital cost allowance (CCA) replaces accounting depreciation for income tax purposes. A taxpayer who acquires and uses depreciable property to earn income from a business or property is generally entitled to claim a portion of the capital […]

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Income Tax Folio S4-F2-C2, Business Use of Home Expenses

Series 4: Businesses Folio 2: Deducting Business Expenses Chapter 2: Business Use of Home Expenses Summary Expenses incurred in earning income from a business are normally deductible in computing income to the extent they are reasonable. This Chapter deals with the conditions and restrictions placed on the deductibility of business expenses that relate to the

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IT467R2- Damages, Settlements and Similar Payments

NO: IT-467R2 DATE: November 13, 2002 SUBJECT: INCOME TAX ACT Damages, Settlements and Similar Payments REFERENCE: Paragraphs 18(1)(a), (b), (c), (h) and (e) (also section 67, subsection 40(1), the definition of “eligible capital expenditure” in subsection 14(5), and paragraphs 20(1)(z) and 20(1)(z.1)) Application This bulletin cancels and replaces IT-467R, Damages, Settlements and Similar Payments, dated February 19,

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Income Tax Folio S4-F2-C1, Deductibility of Fines and Penalties

Income Tax Folio S4-F2-C1, Deductibility of Fines and Penalties Series 4: Businesses Folio 2: Deducting Business Expenses Chapter 1: Deductibility of Fines and Penalties Summary This Chapter discusses the deductibility of fines and penalties for income tax purposes. Several provisions of the Act deny the deduction of a fine or penalty. The key provision is section

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TN-44-Exchangeable Debentures

Exchangeable Debentures: Paragraph 20(1)(f) Question 1 At the Canadian Tax Foundation’s 2008 annual conference,[Footnote 18] the CRA was asked to provide its views in respect of the application of paragraph 20(1)(f) to exchangeable debentures in light of the Federal Court of Appeal decision in Tembec Inc. et al. v. The Queen.[Footnote 19] The CRA was not prepared to comment at that

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IT475- Expenditures on research and for business expansion

NO: IT-475 DATE: March 31, 1981 SUBJECT: INCOME TAX ACT Expenditures on Research and for Business Expansion REFERENCE: Paragraphs 18(1)(a) and (b) 1. The purpose of this bulletin is to discuss the treatment of expenditures on research and expenditures made for business expansion. These expenditures include the cost of market research, applied research, feasibility studies and

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IT285R2 Capital Cost Allowance – General Comments

Capital Cost Allowance – General Comments NO: IT-285R2 DATE: March 31, 1994 SUBJECT: INCOME TAX ACT Capital Cost Allowance – General Comments REFERENCE: Paragraph 20(1)(a) (also paragraph 18(1)(b) and Part XI of the Income Tax Regulations) Application This bulletin cancels and replaces Interpretation Bulletin IT-285R dated October 11, 1985 and the Special Release to IT-285R dated

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IT261R- Prepayment of rents

NO: IT-261R DATE: May 20, 1980 SUBJECT: INCOME TAX ACT Prepayments of rents REFERENCE: Reference: 9(1), 18(1)(a) (also paragraph 18(1)(b) and subparagraph 20(1)(m)(iii)) This bulletin cancels and replaces Interpretation Bulletin IT-261 dated November 3, 1975 and Special Release dated December 5, 1977. 1. This bulletin deals with prepayments of rent and the treatment of the prepayments

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