Regulation 1102(2)
Administrative Policy
7 October 2016 APFF Financial Strategies and Financial Instruments Roundtable Q. 2, 2016-0651711C6 F - RRIF, Transfer of designated benefit
Before indicating that, if a duplex property is used more than 50% for rental use, so that it is not personal-use property, a capital loss...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 54 - Personal-Use Property | land underlying duplex used 40% personally is not personal-use property | 228 |
| Tax Topics - Income Tax Act - Section 40 - Subsection 40(2) - Paragraph 40(2)(g) - Subparagraph 40(2)(g)(iii) | capital loss recognition on land underlying duplex used 40% personally | 73 |
| Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.11) | computation of eligible amount following year of death | 297 |
Subsection 1102(1)
Paragraph 1102(1)(a)
Administrative Policy
92 CPTJ - Q.13
Where a "mothballed" facility is transferred by a parent to a subsidiary, is held by the subsidiary as in adventure of the nature of trade and...
Paragraph 1102(1)(b)
Cases
C.A.E. Inc. v. Canada, 2013 DTC 5084 [at 5944], 2013 FCA 92
The taxpayer leased or entered into leases by it of flight simulators it had manufactured. For financing reasons, it entered into sale and...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Depreciable Property | 371 | |
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(7) - Paragraph 13(7)(a) | change in use on depreciable property conversion to inventory | 124 |
| Tax Topics - Income Tax Act - Section 45 - Subsection 45(1) - Paragraph 45(1)(a) | applied to conversion of depreciable property into inventory | 124 |
| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Machinery and Equipment | 371 |
See Also
Sivasubramaniam v. The Queen, 2008 DTC 3886, 2008 TCC 261 (Informal Procedure)
The taxpayer argued that his rental condominium units were not rental properties because they had been acquired by him with a view to their resale...
Administrative Policy
20 July 2000 Internal T.I. 2000-0035017
When trucks of a leasing company reach the termination of the respective leases at the three-year point, there is a conversion of capital property...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Computation of Profit | 105 |
Paragraph 1102(1)(c)
Cases
Hickman Motors Ltd. v. Canada, 97 DTC 5363, [1997] 2 S.C.R. 336
The taxpayer received equipment on the winding-up of the wholly-owned subsidiary and, five days later, transferred the same assets to another...
Interprovincial Co-operative Ltd. v. The Queen, 87 DTC 5115, [1987] 1 CTC 222, 87 DTC 5115 (FCTD)
A plant was acquired by the taxpayer because its parent had so directed it and not for the purpose of gaining or producing income. It accordingly...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Onus | 62 | |
| Tax Topics - Income Tax Act - Section 135 - Subsection 135(4) - Income of the Taxpayer Attributable to Business Done With Members | 53 |
Roywood Investments Ltd. v. The Queen, 79 DTC 5451, [1980] CTC 19, 79 DTC 5451 (FCTD), aff'd 81 DTC 5148, [1981] CTC 206 (FCA)
The sole purpose of the taxpayer in purchasing land with a building was to realize a substantial capital gain from the property when the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(c) | 70 | |
| Tax Topics - Income Tax Act - Section 68 | 67 |
Bureau et Bureau Inc. v. The Queen, 78 DTC 6562, [1978] CTC 695 (FCTD)
It was found that several old residential and commercial buildings had been purchased by the appellant with the intention of eventually...
See Also
568864 B.C. Ltd. v. The Queen, 2014 TCC 373
The taxpayer - which was a member of group of companies that included a producer of exterior trim boards for construction ("W.L.") – earned...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | beneficial ownership in patents | 434 |
| Tax Topics - Income Tax Act - Section 79.1 - Subsection 79.1(2) | beneficial ownership in patents | 434 |
Garber v. The Queen, 2014 DTC 1045 [at 2812], 2014 TCC 1
The taxpayer bought units in a limited partnership, which was to acquire a large yacht to be used for catered vacation charters. The general...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Depreciable Property | title not held by GP on behalf of partnership | 122 |
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | expenses mere window-dressing | 135 |
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) | no source required if reasonable expectation of income | 241 |
| Tax Topics - Income Tax Act - Section 3 - Business Source/Reasonable Expectation of Profit | fraudulent scheme not a source | 240 |
| Tax Topics - Income Tax Act - Section 96 | GP had fraudulent intention | 241 |
Jolly Farmer Products Inc. v. The Queen, 2008 DTC 4396, 2008 TCC 409
In finding that the taxpayer was entitled to deduct capital cost allowance in respect of houses situate close to the taxpayer's greenhouse...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | 119 |
Sivasubramaniam v. The Queen, 2008 DTC 3886, 2008 TCC 261 (Informal Procedure)
Bowman C.J. indicated that if the taxpayer's submission, that he acquired condominium rental units for the purpose of the resale thereof at a...
Sherman v. The Queen, 2008 DTC 3069, 2008 TCC 186, aff'd 2009 DTC 5681, 2009 FCA 9
The taxpayers were found to have acquired rights in respect of computer software solely for tax-motivated reasons, with no ancillary...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Undepreciated Capital Cost - A | 102 |
McCoy v. The Queen, 2003 DTC 660, 2003 TCC 332
Before going on to find that a limited partnership had acquired software for the purpose of gaining or producing income, Bowman A.C.J. stated (at...
Brown v. The Queen, 2001 DTC 1094 (TCC), aff'd supra 2003 DTC 5298 (FCA)
The word "income" in Regulation 1102(1)(c) means an amount that would be subject to tax, not net income. That requirement was satisfied with...
Gascho Farms Ltd. v. The Queen, 97 DTC 808 (TCC)
A residential property that the taxpayer received as partial consideration for the sale by it of substantially all its properties and that it...
Malatest v. The Queen, 94 DTC 1779 (TCC), briefly aff'd 96 DTC 6377 (FCA)
The taxpayers, were unsuccessful in their initial attempts to sell their Toronto condominium unit after purchasing a Toronto house and commenced...
Moldaver v. MNR, 92 DTC 1564 (TCC)
The taxpayer was found to have acquired a 12-year old building, containing two vacant small offices and a third office being used by a practising...
Administrative Policy
Income Tax Regulation News, Release No. 3, 30 January, 1995 under "Use of a Partner's Assets by a Partnership"
Where a property is acquired by a partner for the purpose of making it available to the partnership to be used in carrying on the business of the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) | 70 | |
| Tax Topics - Income Tax Act - Section 97 - Subsection 97(1) | 36 |
Income Tax Regulation News, Release No. 3, 30 January 1995, under "Loss Utilization within a Corporate Group"
Whether the reasoning in Hickman Motors (93 DTC 5040, [1993] 1 CTC 36) applies to a particular loss-consolidation scheme "will depend on all of...
Rulings Directorate Discussion and Position Paper on Motion Picture Films and Video Tapes as Tax Shelters, Version 29/3/93 930501 (C.T.O. "Motion Picture Films C.C.A.")
Favourable income tax rulings will not be given where there is a probability that a partnership acquiring a film will not make an economic profit...
21 November 1990 Memorandum (Tax Window, Prelim. No. 2, p. 8, ¶1074)
A partner is not permitted to deduct any CCA on assets owned by the partner and used in the partnership business unless a fair market value rent...
81 CR - Q.23
Where a partnership uses assets of a partner, the partner is entitled to claim CCA provided that a fair market value rental is charged to the...
Paragraph 1102(1)(e)
See Also
Roger Dubois Inc. v. The Queen, 2014 DTC 1094 [3167], 2013 TCC 409, briefly aff'd 2015 CAF 235
The taxpayer purchased violins and violin bows, which had been fabricated between 1705 and 1844, for purchase prices aggregating $1.4 million. It...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Statutory Interpretation - Interpretation/Definition Provisions | "deems" has several meanings | 110 |
| Tax Topics - Statutory Interpretation - Noscitur a Sociis | no implied similarity requirement | 158 |
Administrative Policy
12 October 1994 External T.I. 5-942004
Property that is jointly created by a Canadian and a non-Canadian artist will not qualify for the exception for property created by an individual...
Subsection 1102(4) - Improvements or Alterations to Leased Properties
Administrative Policy
IT-464R "Capital Cost Allowance - Leasehold Interests"
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 1102 - Subsection 1102(5) | 0 |
Subsection 1102(5) - Buildings on Leased Properties
Administrative Policy
2015 Ruling 2014-0552291R3 - Paragraph 1102(5)(a) of the Regulations
underline;">: Fundng and erection of Apartment Base. Two arm's length corporations (ACo and ALP PartnerCo) and a GP jointly owned by them...
17 August 1994 External T.I. 5-941523
Because Regulation 1102(5) is considered to apply to any building referred to in Schedule II which is either a building or a structure, and is not...
Revenue Canada Round Table CTF-1992 Conference, Q. 70 No. 922851 (Not Included in Final Report)
Regulation 1102(5) is restricted to references made in Schedule II to a building or other structure and does not deem the leasehold interest to be...
IT-464R "Capital Cost Allowance - Leasehold Interests"
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Regulations - Regulation 1102 - Subsection 1102(4) | 0 |
Subsection 1102(14) - Property Acquired by Transfer, Amalgamation or Winding-Up
Cases
Hickman Motors Ltd. v. Canada, 97 DTC 5363, [1997] 2 S.C.R. 336
Regulation 1102(14) deemed the taxpayer to have acquired assets for the purpose of gaining or producing income because it received those assets as...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Evidence | 42 | |
| Tax Topics - General Concepts - Onus | 41 | |
| Tax Topics - General Concepts - Payment & Receipt | unrecorded revenues | 148 |
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Reasonable Expectation of Profit | 85 | |
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) | brief earning of rental income | 130 |
| Tax Topics - Income Tax Act - Section 3 - Business Source/Reasonable Expectation of Profit | 85 | |
| Tax Topics - Income Tax Act - Section 4 - Subsection 4(1) - Paragraph 4(1)(a) | integrated farming equipment and auto leasing | 95 |
| Tax Topics - Income Tax Regulations - Regulation 1102 - Subsection 1102(1) - Paragraph 1102(1)(c) | 352 | |
| Tax Topics - Statutory Interpretation - Drafting Style | absence of specific-hold period was telling | 85 |
| Tax Topics - Statutory Interpretation - Expressio Unius est Exclusio Alterius | 69 | |
| Tax Topics - Statutory Interpretation - Interpretation Act - Section 16 | 26 |
Administrative Policy
22 June 2015 Internal T.I. 2014-0553731I7 - Deduction of Terminal Loss - Wind-up
On the winding-up of Subco into Parentco (which had held only investments) under s. 88(1), Parentco received the "Property," which had been...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 13 - Subsection 13(7) - Paragraph 13(7)(a) | property remaining idle after deemed acquisition as depreciable property not a change of use | 176 |
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) | deemed depreciable property in fact not used for income-producing purpose | 199 |
10 April 1997 T.I. 970422
A building was transferred to a company in a non-arm's length transaction (so that Regulation 1102(14)(d) applied) and the company thereupon...
90 C.R. - Q38
Where s. 251(3.1) deems Amalco and the predecessors to be related persons, s. 1102(14) will deem the property acquired by Amalco from the...