In 2013-0513771I7, the taxpayer asked whether paragraph 6(1)(a) and subsections 15(1), 56(2) and 56(4) would apply to a situation where employee stock options were issued by a public corporation to the shareholder of a private corporation that provides services…
In 2014-0522731M4, the CRA changed its longstanding position that payments made by lottery corporations to vendors selling the winning ticket were non-taxable. As of January 1, 2014, all such payments must be included in the vendor’s income.
In 2014-0528241E5 the taxpayer asked whether it would be required to pay capital gains tax on vacation property. The property was in very poor condition when it was purchased by the taxpayer, and the taxpayer spent considerable funds to…
The Federal Court of Appeal released its decision in the Bakorp Management case, a case concerning the large corporation rules in subsections 165(1.11) and 169(2.1) of the Income Tax Act (Canada). The court dismissed the taxpayer’s appeal. A copy of…
In 2014-0518771E5 the Canada Revenue Agency summarized its views regarding when employment income earned by Indians (as such individuals are defined in the Indian Act) is exempt from income tax pursuant to s. 81(1)(a) of the Income Tax Act…