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Income Tax Folio S3-F6-C1, Interest Deductibility

Income Tax Folio S3-F6-C1, Interest Deductibility Series 3: Property, Investments, and Savings Plans Folio 6: Interest Chapter 1: Interest Deductibility Summary The purpose of this Chapter is to explain the Canada Revenue Agency’s (CRA) position on the deductibility of interest expense under paragraph 20(1)(c). The Chapter also discusses various other provisions of the Act relating to interest deductibility. An amount […]

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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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IT425- Miscellaneous farm income

NO: IT-425 DATE: February 5, 1979 SUBJECT: INCOME TAX ACT Miscellaneous Farm Income REFERENCE: Subsection 9(1) (also sections 14 and 80.3) 1. This bulletin discusses miscellaneous income of a taxpayer in the business of farming. Sales of Farm Land Including the Crop 2. Where an agreement for the sale of farm land on which there is

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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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IT346R- Commodity Futures and Certain Commodities

NO: IT-346R DATE: November 20, 1978 SUBJECT: INCOME TAX ACT Commodity Futures and Certain Commodities REFERENCE: Section 9 (also subsection 39(1) and 96(1)) This bulletin cancels and replaces Interpretation Bulletin IT-346 dated September 13, 1976. Current revisions are designated by vertical lines and deletions are designated by an asterisk(*). 1. This bulletin discusses the tax treatment

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IT490- Barter transactions

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,

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