Income Tax Application Rules

Subsection 19(1)

Cases

Gastrebski v. The Queen, 94 DTC 6355 (FCA)

The taxpayer, who was hospitalized and treated as an out-patient for severe depression until March 1973 and then returned to work until 1983, when...

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Subsection 20(1)

Cases

Fletcher Challenge Canada Ltd. v. The Queen, 2000 DTC 6437 (FCA)

As a consequence of an amendment to the Forest Act (British Columbia) which gave holders of existing timber rights and privileges the entitlement...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Undepreciated Capital Cost - A no cost because no exchange 154

Administrative Policy

10 June 2003 External T.I. 2003-0017065 F - Disp. of Property owned on Dec 31, 71

Mr. X (who did not make an election pursuant to s. 26(7)) owned a rental property (the “immovable") which he had acquired in 1965 at a cost of...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 85 - Subsection 85(5) the capital cost is not reduced by s. 85(5) for non-CCA/recapture purposes 858

Paragraph 20(1)(a)

Administrative Policy

27 July 2004 External T.I. 2004-0075751E5 - Recaptured Capital Cost Allowance

Where a building purchased prior to 1972 had a capital cost of $75,000, $40,000 of capital cost allowance was deducted on the building prior to...

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Paragraph 21(3)(a)

Cases

Tekarra Lodge Ltd. v. The Queen, 85 DTC 5227, [1985] 1 CTC 334 (FCTD)

S.21(3)(a) avoids a distinction between a "licence" and a "lease". A government lease for use of lands as a "bungalow camp" was found to be...

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Subsection 26(3)

Administrative Policy

26 June 2009 Internal T.I. 2009-0319501I7 F - Résidence reçue en héritage - PBR

The adjusted cost base of property inherited by the taxpayers prior to December 31, 1971 was to be determined based on its fair market value on...

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16 March 1995 Internal T.I. 9429596 - PERSONAL USE PROPERTY

Where a taxpayer's cottage had a pre-1972 cost of $20,000, a V-day value of $50,000 and a current fair market value of $90,000, on a purely...

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8 April 1991 T.I. (Tax Window, No. 3, p. 2, ¶1259)

Where an individual transfers his shares of an operating company having a V-day value between their cost and fair market value, and elects under...

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IT-84 "Capital Property Owned on December 31, 1971 - Median Rule (Tax-Free Zone)".

Subsection 26(5)

See Also

Davidson Estate v. The Queen, 96 DTC 1652, [1996] 3 CTC 2900 (TCC)

The estate of a deceased taxpayer (which was deemed by s. 248 to be a person) was found to be dealing at arm's length with the taxpayer's...

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Administrative Policy

8 November 1994 Internal T.I. 9426387 - TRANSFER OF PRE 1972 PROPERTY TO A TRUST

The words "or events" were added in ITAR 26(5) for greater certainty in order to confirm that the provision applied to bequests.

Subsection 26(7)

Cases

The Queen v. Adelman, 93 DTC 5376, [1993] 2 CTC 207 (FCTD)

The failure of the taxpayer to make a purported election under s. 26(7) resulted in the cost of his shares being determined without reference to...

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Subsection 26(26)

Administrative Policy

S4-F5-C1 - Share for Share Exchange

1.18 In respect of shares which are rolled over under subsection 85.1(1), subsection 26(26) of the ITAR provides that where the exchanged...

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Subsection 26(27)

Administrative Policy

ATR-22R (14 April 89)

S.26(27) does not apply to a change of common shares into special shares pursuant to a s. 86 reorganization of a pre-1972 company, where the...

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Subsection 29(29)

Cases

The Queen v. Pan Ocean Oil Ltd., 94 DTC 6412, [1994] 2 CTC 143 (FCA)

The taxpayer made continual outlays on scientific research carried out by its personnel in order to identify improvements to its methods for...

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