104(13)

Case Update: Laplante v. Canada, 2018 FCA 193 (Multiplying Capital Gains Exemptions)

Key Takeaway The decision in Laplante highlights a major pitfall that tax practitioners should be mindful of when advising clients on structures to multiply the lifetime capital gains exemption among family members. Family members who are allocated a capital gain to claim the lifetime capital gains exemption should be entitled to the money: they cannot […]

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Case Update: Laplante v. Canada, 2018 FCA 193 (Multiplying Capital Gains Exemptions)

Key Takeaway The decision in Laplante highlights a major pitfall that tax practitioners should be mindful of when advising clients on structures to multiply the lifetime capital gains exemption among family members. Family members who are allocated a capital gain to claim the lifetime capital gains exemption should be entitled to the money: they cannot

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Income Tax Folio S1-F2-C3, Scholarships, Research Grants and Other Education Assistance

Income Tax Folio S1-F2-C3, Scholarships, Research Grants and Other Education Assistance Series 1: Individuals Folio 2: Students Chapter 3: Scholarships, Research Grants and Other Education Assistance Summary This Chapter discusses the taxation of scholarships, fellowships, bursaries, prizes, research grants, certain government financial assistance for education and training, forgivable loans and repayable awards. Paragraph 56(1)(n) generally includes

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Income Tax Folio S6-F2-C1, Disposition of an Income Interest in a Trust

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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IT286R2 – Trusts – Amount payable

NO: IT-286R2 DATE: April 8, 1988 SUBJECT: INCOME TAX ACT Trusts – Amount Payable REFERENCE: Subsection 104(24) (also subsections 52(6), 104(4), (5), (5.1), (6), (13) and (18) and 107(4), paragraph 149(1)(o.4) and subparagraphs 110(1)(a)(i) to (vii)) Application This bulletin cancels and replaces IT-286R dated October 4, 1982. Current revisions are designated by vertical lines. Proposals contained

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IT201R2- Foreign Tax Credit – Trusts and Beneficiaries

NO.: IT-201R2 DATE: February 12, 1996 SUBJECT: INCOME TAX ACT Foreign Tax Credit — Trust and Beneficiaries REFERENCE: Subsections 104(22) to (22.4) (also section 126; subsections 20(11) and (12), and 104(13) and (14); and the definitions of “business-income tax” and “non-business-income tax” in subsection 126(7) of the Income Tax Act) Application This bulletin cancels and replaces Interpretation Bulletin

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IT243R4- Dividend Refund to Private Corporations

NO: IT-243R4 DATE: February 12, 1996 SUBJECT: INCOME TAX ACT Dividend Refund to Private Corporations REFERENCE: Section 129 (also sections 51, 84, 85.1, 86, 87, 88, 105, 123.2, 125, 150, and 157; subsections 12(10.2), 15(3), 85(1), 104(13) and (14), 126(1) and (2), 161(2), 186(2), 256(2), and 260(7); the definitions of “designated property” and “private corporation” in

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