10 April 2024 External T.I. 2021-0919231E5 - Foreign tax allocation to a partner -- summary under Payment & Receipt

Regarding the allocation of foreign tax by a partnership to a partner, CRA stated:

If the partnership pays the foreign tax on behalf of the partner or the foreign tax is withheld on behalf of the partner in accordance with foreign law from the foreign income paid to the partnership, such amount would be considered [for purposes of s. 53(2)(c)(v)] to be received by the partner on account or in lieu of payment of, or in satisfaction of, a distribution of the partner’s share of the partnership profits or partnership capital.

Topics and taglines
Tagline
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
866470
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
866471
Extra import data
{
"field_editor_tags": [],
"field_roundtable_subquestion": "",
"field_stub": false,
"field_legacy_header": ""
}
Workflow properties
Workflow state