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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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Gaudette v. The Queen (2018 TCC 208)

  Gaudette v. The Queen [NOTE: TRANSLATED USING GOOGLE, MAY NOT BE FULLY ACCURATE] Database – Court (s) Judgments of the Tax Court of Canada Dated 2018-10-30 Neutral reference 2018 TCC 208 File number 2017-961 (IT) I Judges and Taxing Officers Real Favreau Topics Income Tax Act Folder: 2017-961 (IT) I ENTER : MARTHE GAUDETTE, appellant and

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Income Tax Folio S4-F8-C1, Business Investment Losses

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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IT188R- Sale of accounts receivable

NO: IT-188R DATE: May 22, 1984 SUBJECT: INCOME TAX ACT Sale of Accounts Receivable REFERENCE: Section 22 (also sections 28, 34, 85, 88 and 97, subsections 50(1) and 69(1), and paragraphs 20(1)(l) and 20(1)(p)) This bulletin cancels and replaces Interpretation Bulletin IT-188 dated November 12, 1974. Current revisions are designated by vertical lines. 1. Section 22

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IT188R- Sale of accounts receivable

NO: IT-188R DATE: May 22, 1984 SUBJECT: INCOME TAX ACT Sale of Accounts Receivable REFERENCE: Section 22 (also sections 28, 34, 85, 88 and 97, subsections 50(1) and 69(1), and paragraphs 20(1)(l) and 20(1)(p)) This bulletin cancels and replaces Interpretation Bulletin IT-188 dated November 12, 1974. Current revisions are designated by vertical lines. 1. Section 22

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IT159R3- Capital debts established to be bad debts

NO: IT159R3 DATE: MAY 1, 1989 SUBJECT: INCOME TAX ACT Capital Debts Established to be Bad Debts REFERENCE: Paragraph 50(1)(a) and subsection 50(2) (Also subsections 20(4) and 41(3), paragraphs 20(1)(p), 39(1)(b), 40(2)(g) and 54(e), and subparagraphs 54(f)(ii) and 54(i)(iii)). Application This bulletin replaces and cancels Interpretation Bulletin IT-159R2 dated December 18, 1979. Current revisions are designated

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Byram v. Canada, 1999 FCA

Date:19990125   Docket: A-684-94   CORAM:      STONE J.A.          McDONALD J.A.          SEXTON J.A. BETWEEN:      HER MAJESTY THE QUEEN Appellant -and- EDWIN J. BYRAM Respondent REASONS FOR JUDGMENT McDONALD J.A. [1]      The issue to be decided in this case is whether a taxpayer can claim an allowable capital loss pursuant to subparagraph

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