Income Tax Folio S1-F3-C1, Child Care Expense Deduction Series 1: Individuals Folio 3: Family Unit Issues Chapter 1: Child Care Expense Deduction Summary The purpose of the legislative provisions regarding child care expenses is to provide some relief for taxpayers who incur child care expenses in order to work, carry on a business or undertake certain educational […]
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NO.: IT-206R DATE: October 29, 1979 SUBJECT: INCOME TAX ACT Separate businesses REFERENCE: Section 3 (also sections 14 and 128, subsection 111(5); and Regulations 1101(1) and 2605) This bulletin replaces and cancels Interpretation Bulletin No. IT-206 dated April 14, 1975. Current revisions are designated by vertical lines. 1. The question of whether a taxpayer is conducting one business
Series 4: Businesses Folio 8: Losses Chapter 1: Business Investment Losses Summary A taxpayer’s business investment loss is basically a capital loss from a disposition of shares in, or a debt owing to the taxpayer by, a small business corporation (SBC) where the disposition is: to an arm’s-length person; or one to which subsection 50(1) applies. One-half of this loss
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Income Tax Folio S5-F2-C1, Foreign Tax Credit Series 5: International and Residency Folio 2: Foreign Tax Credits and Deductions Chapter 1: Foreign Tax Credit Summary Section 126 of the Act makes a foreign tax credit available to a taxpayer who at any time in a year is a resident of Canada, or in certain limited circumstances is
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
NO: IT-490 DATE: July 5, 1982 SUBJECT: INCOME TAX ACT Barter Transactions REFERENCE: Section 3 (also sections 9 and 69) 1. The purpose of this bulletin is to outline the Department’s views on the income tax implications arising from bartering. 2. In its simplest form, bartering consists of trading by exchanging one commodity for another. Recently,
NO: IT-434R DATE: April 30, 1982 SUBJECT: INCOME TAX ACT Rental of Real Property by Individual REFERENCE: Section 3 (also sections 9 and 216, and subsections 2(3), 74(1), 74(5), 75(1), 115(1), 120(1) and 120(2), and paragraphs 63(3)(b), 120(4)(a) and 146(1)(c), and Part XIII, and subsections 1100(3) and 2602(1) and Part XXVI of the Income Tax Regulations)
NO: IT-420R3 DATE: March 30, 1992 SUBJECT: INCOME TAX ACT Non-Residents – Income Earned in Canada REFERENCE: Sections 3 & 115 (also sections 4, 115.1 and 253, subsection 2(3) and the definition of “taxable Canadian property” in subsection 248(1) of the Act, and sections 805 and 7400 of the Regulations) Application This bulletin cancels and replaces
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NO: IT-365R2 DATE: May 8, 1987 SUBJECT: INCOME TAX ACT Damages, Settlements and Similar Receipts REFERENCE: Section 3 (also section 6, subsections 5(1), 12.2(1) and (3), 14(1), 16(1), 56(1), and 248(1), paragraphs 81(1)(g.1) and (g.2) and subparagraphs 14(5)(a)(iv) and 56(1)(a)(ii)). This bulletin replaces and cancels IT-365R dated March 9, 1981 and the Special Release to IT-365R
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NO: IT-262R2 DATE: November 28, 1996 SUBJECT: INCOME TAX ACT Losses of Non-Residents and Part-Year Residents REFERENCE: Section 114, subsection 111(9) and paragraphs 115(1)(c) and 115(1)(e) (also sections 3, 31 and 80 and subsections 2(3), 96(2.1), 111(1), 111(1.1), 111(3) and 111(8)) Application This bulletin cancels and replaces IT-262R dated August 30, 1985. Summary The Income Tax Act contains a system of rules
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