Series 3: Property, Investments and Savings Plans Folio 3: Capital Transactions Chapter 1: Replacement Property Summary Subsections 13(4) and 44(1) permit a taxpayer to elect to defer the recognition of recapture (income) of capital cost allowance (CCA) or capital gains where a property was involuntarily disposed of, or a former business property was voluntarily disposed […]
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
Income Tax Folio S3-F4-C1, General Discussion of Capital Cost Allowance Read More »
Atlantic Packaging Products Ltd. v. The Queen (2018 TCC 183) Court (s) Database Tax Court of Canada Judgments Date 2018-09-07 Neutral citation 2018 TCC 183 File numbers 2015-4074(IT)G Judges and Taxing Officers David E. Graham Subjects Income Tax Act Docket: 2015-4074(IT)G BETWEEN: ATLANTIC PACKAGING PRODUCTS LTD./ ATLANTIC PRODUITS D’EMBALLAGE LTÉE., Appellant, and HER MAJESTY THE
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NO: IT-373R2 SUBJECT: INCOME TAX ACT Woodlots REFERENCE: Section 9 (also subparagraph 40(2)(g)(iii); paragraphs 12(1)(g), 18(1)(a) and 18(1)(h); subsections 18(2), 28(1), 70(9), 70(9.1), 70(9.2), 70(9.3), 73(3) and 248(1); and sections 31, 43, 46, 54, 67, 110.6 and 111) Application This bulletin is a consolidation of the following: IT-373R2 dated July 16, 1999; and subsequent amendments thereto.
NO: IT-102R2 DATE : July 22, 1985 SUBJECT : INCOME TAX ACT Conversion of Property, Other than Real Property, from or to Inventory Section 9 (also section 45, subsections 13(7) and 248(1), and paragraphs 13(21)(c) and 54(a), (b) and (c)) The comments in this bulletin apply for taxation years commencing after its issue date. IT-102R will
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NO.: IT-268R3 DATE: February 13, 1987 SUBJECT: INCOME TAX ACT Inter Vivos Transfer of Farm Property to Child REFERENCE: Subsections 73(3) and 73(4) (also sections 69, 75, 75.1, 80 and 110.6, subsections 40(1), 40(1.1), 70(9.6), 70(9.8), 70(10), 73(5), 100(2), 146(5.3), 146(5.4), 146(5.5), 248(1) and 252(1) and paragraphs 40(2)(b), 40(2)(c) and 54(g) of the Income Tax Act; subsections 20(1), 21(1), 21(2), 26(3), 26(5) and 26(19) of the Income Tax Application
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Income Tax Folio S7-F1-C1, Split-receipting and Deemed Fair Market Value Series 7: Charities and Non-profit Organizations Folio 1: Charitable Gifts and Deductions Chapter 1: Split-receipting and Deemed Fair Market Value Summary The purpose of this Chapter is to provide the CRA’s views on the application of subsections 248(30) to (41), which include the rules commonly referred to
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Income Tax Folio S1-F3-C2, Principal Residence Series 1: Individuals Folio 3: Family Unit Issues Chapter 2: Principal Residence Summary This Chapter discusses the principal residence exemption, which can eliminate or reduce (for income tax purposes) a capital gain on the disposition of a taxpayer’s principal residence. In order for a property to qualify for designation as the
Income Tax Folio S3-F2-C1, Capital Dividends Series 3: Property, Investments and Savings Plans Folio 2: Dividends Chapter 1: Capital Dividends Summary This Chapter discusses capital dividends and the capital dividend account (CDA). The CDA keeps track of various tax-freesurpluses accumulated by a private corporation. These surpluses may be distributed tax-free in the form of capital dividends to the
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