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Income Tax Folio S3-F9-C1, Lottery Winnings, Miscellaneous Receipts, and Income (and Losses) from Crime

Income Tax Folio S3-F9-C1, Lottery Winnings, Miscellaneous Receipts, and Income (and Losses) from Crime Series 3: Property, Investments and Savings Plans Folio 9: Miscellaneous Payments/Receipts Chapter  1:  Lottery Winnings, Miscellaneous Receipts, and Income (and Losses) from Crime Summary This Chapter discusses the tax treatment of various receipts, such as strike pay, gambling winnings, and forfeited […]

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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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IT525R- Performing Artists

NO.: IT-525R (Consolidated) SUBJECT: INCOME TAX ACT Performing Artists REFERENCE: Paragraphs 8(1)(p) and (q) (also sections 8, 18, 67, 67.1, 67.2, 67.3, 67.4, and 67.5, paragraphs 8(1)(j), 13(7)(a), (b), and (c), and subsection 1100(2) of the Income Tax Regulations) Application This bulletin is a consolidation of the following: IT-525 dated August 17, 1995; and subsequent amendments thereto. For

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IT-504R2- Visual Artists and Writers

NO.: IT-504R2 (Consolidated)   DATE: See Bulletin Revisions section SUBJECT: INCOME TAX ACT  Visual Artists and Writers REFERENCE: Section 9 (also sections 67.1, 110.4, and 110.6, subsections 10(1), (6), (7), and (8), 18(12), 70(5), and 118.1(1), (6), (7), (7.1), and (10); paragraphs 8(1)(j), 8(1)(q), and 69(1)(b) of the Income Tax Act and Parts XVIII and XXXV of the Income Tax Regulations) Visual

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IT417R2 – Prepaid Expenses and Deferred Charges

NO: IT-417R2 DATE: February 10, 1997 SUBJECT: INCOME TAX ACT Prepaid Expenses and Deferred Charges REFERENCE: Section 9 and subsection 18(9) (also subsections 18(9.2) to (9.8)) Application This bulletin replaces and cancels Interpretation Bulletin IT-417R dated July 5, 1982. Summary Prepaid expenses and deferred charges both represent costs incurred or laid out from which benefit is expected to be derived after

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IT99R5- Legal and Accounting Fees

NO.: IT-99R5 (Consolidated)  DATE: See Bulletin Revisions section SUBJECT: INCOME TAX ACT  Legal and Accounting Fees REFERENCE: Paragraph 18(1)(a) (also sections 9 and 239; subsections 13(12), 20(9), and 40(1); paragraphs 6(1)(f), 6(1)(j), 8(1)(b) and (c), 20(1)(b), (e) and (cc), 56(1)(b), (l) and ( l.1), 60(o) and (o.1) and the definitions of “cumulative eligible capital” and “eligible capital expenditure” in subsection

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IT357R2- Expenses of training

NO: IT-357R2 DATE: November 6, 1989 SUBJECT: INCOME TAX ACT Expenses of Training REFERENCE: Subsection 18(1) (also section 67, subsections 15(1) and 20(10), and paragraph 6(1)(a)) Application This bulletin replaces and cancels Interpretation Bulletin IT-357R dated May 21, 1980. Current revisions are indicated by vertical lines. Summary This bulletin deals with the deductibility of costs and

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IT-504R2(C)-Visual Artists and Writers

  NO.: IT-504R2 (Consolidated)   DATE: See Bulletin Revisions section SUBJECT: INCOME TAX ACT  Visual Artists and Writers REFERENCE: Section 9 (also sections 67.1, 110.4, and 110.6, subsections 10(1), (6), (7), and (8), 18(12), 70(5), and 118.1(1), (6), (7), (7.1), and (10); paragraphs 8(1)(j), 8(1)(q), and 69(1)(b) of the Income Tax Act and Parts XVIII and XXXV of the Income Tax Regulations)

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IT487- General limitation on deduction of outlays or expenses

NO: IT-487 DATE: April 26, 1982 SUBJECT: INCOME TAX ACT General Limitation on Deduction of Outlays or Expenses REFERENCE: Paragraph 18(1)(a) 1. Paragraph 18(1)(a) provides a general restraint on the deductions permitted in the computation of income of a taxpayer from a business or property by prohibiting the deduction of an outlay or expense except to

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