WebSubsection 87 (1) of the Income Tax Act does not apply where a corporation acquires property of another corporation by way of purchasing such property or as a result of the … WebOct 21, 2013 · Section 87 of the Indian Act, R.S.C. 1985, c. I-5 can exempt the property of First Nation individuals and bands from taxation. For obvious reasons, this exemption can provide very valuable...
Opinion: Some thoughts on section 87 of the Indian Act
WebThroughout the following text, for end out the tax exemption under section 87 by the Indian Act, the CRA uses the name “Indian” for it has a law meaning in and Indian Act. Employment income a free from income tax under body 81(1)(a) of the Receipts Tax Act and section 87 of the Indian Act only if the income is situated on a reserve. If your ... WebDec 21, 2024 · Paragraph 81(1)(a) of the Act excludes income exempt under section 87 of the Indian Act when computing the income of a taxpayer for a taxation year under Part I of the Act. The CRBA does not have a specific provision to include the section 87 exempt income for the purpose of calculating the income for repayment in subsection 8(2) of the … laurdiy office
The Indian Act and Taxes - ictinc.ca
WebMar 23, 2016 · “The courts have determined that, for the purposes of section 87 of the Indian Act, employment income is personal property. In the case of employment income … WebApr 12, 2024 · Persons seeking registration must apply on or before May 12, 2024, to continue their business pending final action by DEA on their application. FOR FURTHER INFORMATION CONTACT: Terrence L. Boos, Drug and Chemical Evaluation Section, Diversion Control Division, Drug Enforcement Administration; Telephone: (571) 362-3249. WebNov 23, 2024 · 87 (1) Notwithstanding any other Act of Parliament or any Act of the legislature of a province, but subject to section 83 and section 5 of the First Nations Fiscal and Statistical Management Act, the following property is exempt from taxation: (a) the interest of an Indian or a band in reserve lands or surrendered lands; and laurdiy net worth