Subsection 34.1(1) - Additional Business Income
Cases
MacKay v. Canada, 2015 FCA 94, aff'g 2014 DTC 1059 [at 2959], 2014 TCC 33
The taxpayer's dentistry practice had a January 31 fiscal year end. His practice income increased dramatically from his 2005 to 2006 fiscal year,...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Statutory Interpretation - Ordinary Meaning | no relief for "harsh" (timing difference) consequences | 82 |
Administrative Policy
10 September 2014 External T.I. 2014-0522551E5 - Income for retired partner
The "Retired Partner" retired from a partnership of individuals (the Partnership – which had an off-calendar fiscal period ending January 31...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 96 - Subsection 96(1.1) | retroactive effect of agreement to require s. 34.1(1) inclusion | 270 |
11 February 1999 T.I. 980818
S.34.1(8) relieved an individual who had left a partnership of any additional income inclusion under s. 34.1(1) in the year of departure.