TOPICAL INDEX 763. Page

Transcription

1 TOPICAL INDEX A Accounting income vs. income for tax purposes Accounts receivable sale , 696 Accrued losses Accumulating designated income of a trust Acquisition date of depreciable property Acquisition of control corporations Active business income (ABI) , 491, Addition for foreign tax deduction , 502 Adjusted cost base , , Adjusted taxable income Administration and enforcement... 49, 67-74, Affiliated persons Age credit Aggregate investment income , 500, Aircraft costs Allocation of taxable income per province , Allowable business investment losses (ABIL) Allowances disabled employee employment , 742 living expenses part-time employee... 43, 86 retiring Amalgamation Amounts not included in computing income Amount owing by non-residents Amount payable to beneficiary of trust Amounts receivable Amounts receivable death Annual value of property Annuity payments Anti-avoidance rules , 398, 484, 528, Appeal , 130, 747

2 762 TOPICAL INDEX Apprentice mechanic s tools Arm s length sale of shares Artist , 175, 176 Artists employment expense Assessment and reassessment , 747 Associated corporations Attendant care expense , 164 Attribution of taxable income Attribution rules exceptions special rules summary Audit for tax purposes Automobile allowance , class , 343 employee employer provided expenses , operating expense benefit , partnership provided salesperson standby benefit charge , 543, 743 Available-for-use rule Avoidance , Awards and prizes B Bad debt , 267, , 701, 743 Bad debt recoveries Balance due day... 55, 56, 57 Bankruptcy Basic documents legislative and other Basic exemption Basic tax credit Beneficiaries of trust , Benefits, taxable and non-taxable Benefits to shareholders Bonds Bond conversion Books and records... 70, 747 Borrowing money expense Branch tax Building costing $50,000 or more

3 TOPICAL INDEX 763 Bursaries Business expense Business income planning Business income vs. capital gains , 361 Business income vs. property income Business investment loss Business limit small business deduction Business loss... 40, C Canada child tax benefit Canada disability savings bond (CDSB) Canada disability savings grant (CDSG) Canada learning bond (CLB) Canada Pension Plan (see also CPP contribution tax credit) , 129, 163, 699 Canada Revenue Agency (CRA) enquiries Canada Savings Bonds Canadian-controlled private corporation , , 700 Canadian cultural property , 475 Canadian securities Cancellation of lease Capital cost , 504 Capital cost allowance (CCA) , 303, , 320, classes , 343 eligible capital property changes reclassification of property restrictions on revision of rules separate classes , Capital cost of depreciable property Capital dividend account , 699 Capital gains , 360, 362, , Capital gain avoidance (section 55) , Capital gain deferral certain shares Capital gains deduction , , 645 Capital interest of a trust Capital losses , 458 Capital outlay or loss Capital property , , Capital reorganization Capital surplus on hand pre Capitalizing interest Caregiver tax credit

4 764 TOPICAL INDEX CCA revision Ceasing to carry on business eligible capital property , fiscal period , sale of accounts receivable , 696 sale of inventory Certificate before distribution (death) , 585, 689 Change of control loss carryover Change in use of a property , , Charitable donations , , 543 Charitable gifts , Child benefit supplement Child Care Benefit Child care expense Child credit Child disability benefit Child support payments Child tax benefit Children s arts credit Children s fitness and art tax credit Classes. See Capital cost allowance Clergyman s residence Club dues Collection of income taxes Collective agreement Commercial debt Commission employee... 81, 95, Computation of income , , , , , Computation of tax payable , , , Computation of taxable income , 577, 592, 597 Connected corporation Consumption taxes Control acquisition and definition , Controlled foreign affiliate Convention expense Convertible property Corporate emigration Corporate reorganization Corporate surtax Corporate tax payable Corporate tax rates , 493, Corporation residence Corporations private Corporations public Corporations types , 519

5 TOPICAL INDEX 765 Cost of borrowing money capitalization of interest CPP contribution tax credit Cultural gift , 475 Cumulative capital gains deduction Cumulative eligible capital (CEC) , Cumulative excess RRSP contribution Cumulative net investment loss (CNIL) D Damaged property , , Death benefit Death of a taxpayer , , Debt , Debt forgiven commercial debt Debtor s gain on settlement of debt Deceased person... 50, , Declaration of taxpayer rights Deduction for payments Deduction limit RRSP Deductions at source , 81 Deductions at source non-resident Deductions from business income Deductions from employment income , , Deductions from business or property income Deemed disposition by trust Deemed disposition on death Deemed disposition on leaving Canada , Deemed dividend , 660 Deemed rental income Deemed non-resident Deemed resident , 138 Deferred compensation and retirement plans Deferred income plan , 203, 256, 260, 269, 443, 449, Deferred income plan trust Deferred profit sharing plan (DPSP) , , Defined benefit pension plan , 208 Dependant credit Depreciable property , 697 Depreciable property classes Depreciable property held on December 31, Depreciable property available-for-use rules Depreciation Director s and other fees Disability savings plan , Disability supports deduction

6 766 TOPICAL INDEX Discount on certain obligations Discounted bonds Disposition costs of capital property , 362 Disposition of capital property , , , Disposition of property by legal representative Distribution from capital dividend account Dividend income , , , Dividend on preferred share Dividend received by spouse Dividend rental arrangement , 477 Dividend refund to corporation Dividend tax credit Dividends vs. salary Donation , , , 543 Doubtful debt , 261, Dues and other expenses of performing duties E Earned income (for RRSP) Ecological gift , 475 Education savings plan , Education tax credit Elderly people , 161 Election February 22, pension income earned by non-residents (section 217) , section section specified leasing property Electronic equipment separate class , 722 Eligible capital expenditure Eligible capital property , 295, , , federal budget changes Emergency service volunteers Emigration , , Employee benefit plan... 95, , 253 Employee loan Employee profit sharing plans (EPSP) , 253 Employee trust... 95, Employment benefits , 98-99, Employment credit Employment deductions Employment income , Employment insurance benefits , 120

7 TOPICAL INDEX 767 benefit repayment premium tax credit employee Employment insurance benefits , 120 Enquiries by Canada Revenue Agency (CRA) Enforcement Entertainment expense Equivalent-to-spouse credit Estate freeze Excise duties Excise tax Exempt income , 255 Exempt persons Exempt receipt , 255 Expense of objection and appeal , 130 Expense of incorporation Expense of issuing shares and similar expense Expense of railway employee Exports (GST) Expropriation , F Factual residence Fair market value Family caregiver credit (FCC) , 160 Family farm corporation or partnership , , Family fishing corporation or partnership , , Family tax act Farm loss , , 480 Farm, woodlot, or fishing property transferred to a child , Farm qualified farm property Farming business , 404, 540 February 22, 1994 election Federal tax abatement to corporation Federal Court of Canada appeals Filing date of return Financial assistance payment Fines and penalties , 261 First Nations taxation First-time home buyers tax credit Fiscal period , , , , 646 Foreign accrual property income (FAPI) Foreign affiliate Foreign affiliate dumping Foreign business income , , , 541

8 768 TOPICAL INDEX Foreign currencies Foreign non-business income tax Foreign property income , , Foreign property reporting Foreign tax credit , 270, 479, Former business property G General anti-avoidance rule (GAAR) , 718, 726 General limitation expense deduction General procedure General rate income pool (GRIP) General tax reduction Gifts Gift at non-arm s length Gift of ecological property , 475 Gift to Her Majesty , 458, 474 Gift to institution , 458, 475 Goods and services tax (GST) , 735, conceptual framework credit quick method registration and collection simplified method Goodwill Government assistance , 699 Grant and subsidy , 699 Gratuities (tips) Group term life insurance policy H Half-year rule Harmonized sales tax (HST) Health services plan premiums (private)... 83, History of income taxation... 3 Home buyers plan (HBP) , first-time tax credit Home office , Home relocation loan... 97, 144 Home renovation tax credit Housing loss benefit in respect of I Identical properties

9 TOPICAL INDEX 769 Illegal payments Immigration... 32, Imports (GST) Income allocated to trust beneficiairies Income and taxable income Income attribution rules Income averaging annuities Income bond Income computation , , Income earned in a province , 489 Income from a business Income from an office/employment Income interest of a trust Income not earned in a province , 489 Income splitting , Income Tax Act (ITA) interpretation... 6 structure... 7 table of contents Income tax refund Income tax regulation (ITR) Indexation Indirect ownership Indirect payment Individual absent from Canada Individual residence Individual tax rates Inducement payment Informal procedure Information Circular (IC) Information return emigration , foreign property partnership registered education savings plan Input tax credit (ITC) , 746 Instalment payments of tax by corporation Instalment payments of tax by individual Insurance agent and broker Insurance proceeds expended Integration , 500, 509 Interest , , Interest and property tax restriction Interest expense Interest in a partnership ,

10 770 TOPICAL INDEX Interest income Interest on indebtedness for deferred income plan Interest on loan to employee and shareholder Interest on unpaid income taxes Interest paid to specified non-resident Interest-free loan International banking centre International tax convention... 4, Interpretation Bulletin (IB) Interpretation of the Act... 5 Inter vivos trust Inventory , 253, , 696 Investment counsel fees Investment income refundable tax , 500, Investment tax credit (ITC) , 291, Atlantic investment tax credit deduction and carryover mineral exploration and development tax credit rates refund scientific research and experimental development (SR & ED) , 291, 496 Involuntary disposition , L Labour-sponsored funds tax credit Land acquired under a lease-option agreement Land transfer tax Landscaping of grounds Large corporations tax Lease cancellation Leasehold improvement Lease-option agreement , 343 Leasing property CCA restriction Leasing property separate classes Leasing property specified Legal expense , 130 employee objection or appeal , 130 other , Liability for tax Life estates in real property Life insurance , Life insurance premium borrowing expense Lifelong learning plan (LLP) withdrawal from RRSP , Limitation on deduction of expense

11 TOPICAL INDEX 771 Limited partnership , 480, , 726 Listed personal property Loan attribution rule Loan to corporation Loan to employee and shareholder , 267, Loan to non-resident Loan to related person Loan to trust Loss carryovers , , 543, 700 Lottery prize... 43, 382 Low-rate income pool (LRIP) Lump-sum payments retroactive M Manufacturing and processing profits tax reduction Manufacturing and processing property , 320, 327 Median rule Medical expense tax credit , 459 Member of a religious order , 144 Mental or physical impairment credit , 159, 160, Mineral exploration and development tax credit Minimum tax for individuals , 459 Misclassified property Money purchase pension plan , Mortgage foreclosure Motor vehicle. See Automobile Moving expense... 98, Musical instrument owned by employee N Net capital loss , 389, Net income , 81, Nomenclature of the Act Non-arm s length sale of shares Non-arm s length transaction , , Non-capital loss , Non-connected corporation Non-depreciable property held on December 31, Non-residents amounts owed by certificate of disposition taxation... 37, Non-resident corporation carrying on business in Canada , 607 Non-resident owned investment corporation , 490

12 772 TOPICAL INDEX Non-taxable dividend Northern employee benefits deduction Notice of assessment Notice of objection O Objection and appeal , 130, 747 Obligation issued at discount Offences and punishment Office and employment definition Oil and gas , 412, 558 Old age security benefits tax on , 190 Options Overpayment of CPP and other Overpayment of RRSP contributions Overseas employment tax credit P Paid-up capital , , , , , 700 Part I tax... 7, 37, 49, 57, 231, 238, 476, 496, 500, , 589, Part I.2 tax , 701 Part I.3 tax... 57, 64, 489, 492, Part II.1 tax Part III tax Part IV tax , Part IV.1 tax Part VI tax Part VI.1 tax , Part X.1 tax , 216 Part X.4 tax Part XII.2 tax Part XIII tax Part XIV tax Partner, defined Partner s expenses Partnerships adjusted cost base of interest in capital cost allowance and reserves capital property computation of income defined dividends

13 TOPICAL INDEX 773 expenses of partners family farm , 438, 455, 540 fiscal period of terminated foreign income income , information return interest limited rental income residual interest retiring partner salary special rules transfer of property Part-time employee Part-year resident Passenger vehicle. See Automobile Past service pension adjustment (PSPA) Payment of income taxes death emigration , , Payments as inducement or as reimbursement Payments based on production or use , 702 Payments by employer to employee Penalties , 261 Pension adjustment , 209, 207, , 226 Pension adjustment reversal (PAR) Pension contribution Pension income Pension income splitting Pension income tax credit Periodic payments death Permanent establishment (PE) , Person definition Personal or living expense , 256 Personal services business , Personal tax credits Personal-use property Persons exempt from tax Political contribution tax credit , 256, 503 Pre-1972 capital surplus on hand Pre-1986 capital loss balance Preferred beneficiary Preferred share Prescribed interest rate

14 774 TOPICAL INDEX Prepaid expense , 698 Prepaid interest Price adjustment clause Principal residence Principles of the Act... 5 Private corporations , 480, , 700 Procedure and evidence Procedure of appeal to Tax Court of Canada general informal Proceeds of disposition , 361, 372, 373 Professional business Profit sharing plan... 87, 228, 253 Property, change in use Property disposition Property disposition proceeds , 361 Property excluded from capital gain Property income , Property owned on December 31, Property reclassified in CCA class Property taxes: restriction Provincial income , , 489 Provincial sales tax Provincial taxes , Public corporation , 488 Public transit pass tax credit Purchase and sale of assets Purchase and sale of business , 753 Purchase and sale of shares Purpose of gaining income Q Qualified farming or fishing property Qualified small business corporation share Quebec pension plan benefit , 120, 163 Quebec (and Canada) pension plan tax credit Quebec tax abatement R Railway employee expense Rates for capital cost allowance Real property life estate in Reassessment Recapture of capital cost allowance

15 TOPICAL INDEX 775 Reclassified property Recreational club dues Recreational facilities Redemption of share , 620 Refundable dividend tax on hand (RDTOH) Refundable investment tax credit , 505 Refundable medical expense supplement Refundable portion of Part I tax Refundable Quebec abatement Refundable tax on investment income Refunds Registered disability savings plan (RDSP) , Registered education savings plan (RESP). See Education savings plan Registered pension plan (RPP) , , 699 Registered retirement income fund (RRIF) , Registered retirement savings plan (RRSP) , 129, Registered supplementary unemployment benefit plan (RSUBP) Related corporation Related person Relocation expense Remote area employment Remuneration definition reimbursement unpaid Rental income, deemed Rental income partnership Rental property of $50,000 or more Rental property CCA restriction , Reorganization of capital Reorganization of corporation Replacement property , Representation expenses Research and development. See SR&ED Research grant Reserves , 255, 261, 268, 458, , 698 goods and services , 267 unpaid amount , Reserve for doubtful debts , 267 Residence of corporation Residence of individual , 590 Residence of trust Residence of taxpayer , 590 Resident in Canada part of year Residual interest in partnership

16 776 TOPICAL INDEX Resource property , 449 Restricted farm loss , 285, 480 Restrictive covenants Retirement compensation arrangement , , 253 Retiring allowance Retroactive payments Returns , , 467, 524, 578 Rights or things death Rollover , S Salary deferral arrangement... 95, 109, 124, , 253 Salary definition Salary vs. dividends Sales expenses Sale of business , Scholarships Scientific research and experimental development. See SR&ED Section 85 transfers Separate classes , Separate return (death) Services to be rendered Share capital gain deferral on sale of Share for share exchange (section 85.1) Share issue expense Share transfer and other expenses Shareholder benefit conferred Shareholder debt , Site investigation expense Small business and GST Small business bond Small business corporation , Small business deduction , Small business development bond Small business income Small supplier Social assistance payment , Soft costs Source deductions Special work site Specified investment business Specified leasing property , 343 Specified partnership member Specified shareholder Split income , , 722, 727

17 TOPICAL INDEX 777 Spousal RRSP Spousal trust , 401, 430, 432, , Spouse credit SR&ED (Scientific research and experimental development) , , 504, Standby charge for automobile Stock option for employee , Stolen property , , Structure of the Act... 6 Student loan interest credit Subsidy for acquisition of depreciable property Superficial loss Supplement, guaranteed income... 42, 117 Supplementary unemployment benefit plan , Support payments , Supreme Court of Canada (SCC) Surtax on tax payable by corporation T T2 Form Table of contents Act, ITAR and Regulations Tax avoidance , 425, , Tax computation corporation Tax computation individual , Tax Court of Canada (TCC) Tax credit to support elderly people Tax credits age basic Canada Pension Plan contribution caregiver charitable and similar gifts child children s fitness and arts dependants dividend education , employment employment insurance equivalent to spouse family caregiver credit first-time home buyers foreign , goods and sevices tax interest on student loan

18 778 TOPICAL INDEX investment , labour-sponsored funds manufacturing and processing profits medical expenses , 459 mental or physical impairment , overseas employment pension personal political contribution , 256, 503 public transit pass spouse textbook transfer to other transfer to spouse tuition volunteer firefighters Tax evasion... 72, Tax-exempt item Tax-free savings account (TFSA) Tax instalment payment Tax payable, computation for corporation , Tax payable, individual , Tax planning Tax rates , , 493, Tax reduction for corporations Tax return , , 463, 532, 578 Tax shelters... 71, , 726 Tax treaties... 4, tie-breaker rules Tax withholdings , 81, Taxable benefits , non-taxable benefits Taxable Canadian property Taxable capital gain Taxable dividend , , 478, 541 Taxable income... 35, , , Taxable income corporation , Taxable income individual , 727 Taxation year: definition and period , 317 Taxpayers obligations Taxpayers Ombudsman Taxpayers rights Teachers exchange fund contribution Terminal loss on building Termination of partnership

19 TOPICAL INDEX 779 Testamentary trust Textbook tax credit Thin capitalization rules Tradespeople s tool expenses Transaction at non-arm s length Transaction between partners and partnership Transfer back to parent Transfer of pension benefits and other , Transfer of property by shareholder to corporation (section 85) Transfer of retiring allowance to RRSP , Transfer of unused tax credits Transfer to a child farming or fishing property , Transfer to corporation Transfer to minors , Transfer to spouse property , , Transfer to trust Transport employee s expenses Travel expenses Trusts, defined creation of income tax return residence taxation of types of Trustee Trust income , Trust tax rate Tuition fees tax credit , Types of corporations Types of trusts U Undepreciated capital cost (UCC) Unearned income reserve Universal child care benefit (UCCB) Unpaid amounts reserve for Unused RRSP deduction room Utilities service connection V Vacant land Valuation days ,

20 780 TOPICAL INDEX Value of benefits employment Voluntary disclosure Voluntary disposition , Volunteer firefighters and other emergency volunteers Volunteer firefighters credit W Wage definition Warranty dispositions subject to , 702 Winding-up of a Canadian corporation (subsec. 88(2)) Winding-up of a partnership , 684 Winding-up of a subsidiary (subsec. 88(1)) Withdrawal for lifelong learning RRSP Withdrawal of funds RRSP, RRIF, HBP Withholding tax , 81, Workers compensation payment , 144 Working income tax benefit (WITB) Z Zero-rated item Numbered 1971 receivables