Docs

section-88

Filemark T2 rollover and reorganization preview

Kind
rollover
Supported tax years
—
Strict profile
rollover_preview_exact_v1
Payload schema version
6.0.0

Example request

Send this body to POST /api/v1/computations/rollovers/section-88. It satisfies the strict profile, so it works with or without the payloadContract selector.

{
  "inputs": {
    "parent": {
      "acbOfSubShares": 500000,
      "pucOfSubShares": 100000
    },
    "subsidiary": {
      "netTaxValueOfAssets": 300000,
      "taxableDividendsDeductibleOnSubShares": 0,
      "capitalAndLifeInsuranceCapitalDividendsOnSubShares": 0
    },
    "bump_properties": [
      {
        "label": "Cedar Ridge manufacturing land",
        "costAmount": 100000,
        "costAmountAtAcquisitionOfControl": 100000,
        "fmvAtAcquisitionOfControl": 300000,
        "isDepreciable": false,
        "isCapitalProperty": true,
        "isResourceProperty": false,
        "ownedContinuouslySinceAcquisitionOfControl": true,
        "isIneligibleProperty": false,
        "prescribedAmountC": null,
        "isForeignAffiliateShare": false,
        "isPartnershipInterest": false,
        "partnershipAccruedGainOnDepreciableProperty": null,
        "partnershipResourcePropertyFmv": null,
        "partnershipAccruedGainOnNonCapitalProperty": null,
        "paragraph88_1_eStuffedPropertyFmv": null,
        "designatedAmount": 200000,
        "dispositionInSeries69_11": false,
        "fmvAtWindUp": null,
        "section80CostAmountReduction": 0
      }
    ],
    "party": {
      "ownsAtLeast90Pct": true,
      "bothTaxableCanadian": true,
      "minorityShareholdersAtArmsLength": true,
      "subsidiaryHasLossCarryforwards": false
    }
  }
}

Input cells (29)

Paths are relative to the request’s inputs object; [] marks an array element.

Required says when a cell must be present. Always means every request needs it: the default boundary rejects the call when the cell is omitted or null. Strict means only a request that sends this target’s payloadContract selector needs it. See Run computations for the default boundary.

These cells are everything this target accepts. A member that is not published here, or is sent with the wrong JSON type, fails the call with a 400 naming each failing cell.

Input cells for section-88
CellTypesRequired
bump_properties[].costAmountnumberstrict
bump_properties[].costAmountAtAcquisitionOfControlnumberstrict
bump_properties[].designatedAmountnull | numberstrict
bump_properties[].dispositionInSeries69_11Preparer assertion that s.69(11) applies to this property's distribution; the property's FMV at wind-up is then required.booleanstrict
bump_properties[].fmvAtAcquisitionOfControlnumberstrict
bump_properties[].fmvAtWindUpnull | numberstrict
bump_properties[].isCapitalPropertyWhether the distributed property is capital property eligible for an s.88(1)(d) designation.booleanstrict
bump_properties[].isDepreciables.88(1)(c)(iii): depreciable property is ineligible property and cannot take the s.88(1)(d) bump.booleanalways
bump_properties[].isForeignAffiliateShareThe distributed property is a foreign affiliate share; the prescribed amount under Reg 5905(5.4)(a) (tax-free surplus balance times surplus entitlement percentage) becomes mandatory.booleanstrict
bump_properties[].isIneligiblePropertyboolean | nullstrict
bump_properties[].isPartnershipInterestThe distributed property is a partnership interest; engages the s.88(1)(d)(ii.1) look-through and makes the Reg 5905(5.4)(b) prescribed amount mandatory.booleanstrict
bump_properties[].isResourcePropertyWhether the distributed property is resource property or a right to production, for which s.88(1)(a)/(c) prescribe nil proceeds/cost.booleanstrict
bump_properties[].labelstringstrict
bump_properties[].ownedContinuouslySinceAcquisitionOfControlboolean | nullstrict
bump_properties[].paragraph88_1_eStuffedPropertyFmvnull | numberstrict
bump_properties[].partnershipAccruedGainOnDepreciablePropertynull | numberstrict
bump_properties[].partnershipAccruedGainOnNonCapitalPropertynull | numberstrict
bump_properties[].partnershipResourcePropertyFmvnull | numberstrict
bump_properties[].prescribedAmountCnull | numberstrict
bump_properties[].section80CostAmountReductionnumberstrict
parent.acbOfSubSharesnumberstrict
parent.pucOfSubSharesnull | numberstrict
party.bothTaxableCanadians.88(1) condition: both the parent and the subsidiary are taxable Canadian corporations.booleanstrict
party.minorityShareholdersAtArmsLengthboolean | nullstrict
party.ownsAtLeast90Pcts.88(1) condition: the parent owns at least 90 percent of the shares of each class of the subsidiary.booleanstrict
party.subsidiaryHasLossCarryforwardsFlags the s.88(1.1) and (1.2) loss flow- through: the subsidiary's losses become deductible to the parent starting the taxation year after the wind-up.booleanstrict
subsidiary.capitalAndLifeInsuranceCapitalDividendsOnSubSharesnull | numberstrict
subsidiary.netTaxValueOfAssetsnumberstrict
subsidiary.taxableDividendsDeductibleOnSubSharesnull | numberstrict
Strict profile accepted values (17 of 29 cells)

These values apply only when the request sends this target’s payloadContract selector. A cell marked pinned must equal the value shown to satisfy the strict profile. On the default boundary the same cell accepts any value of its published type.

Strict profile accepted values for section-88
CellAccepted values
bump_properties[].costAmount0 to 600000000000
bump_properties[].costAmountAtAcquisitionOfControl0 to 600000000000
bump_properties[].designatedAmount0 to 600000000000
bump_properties[].fmvAtAcquisitionOfControl0 to 600000000000
bump_properties[].fmvAtWindUp0 to 600000000000
bump_properties[].label1 to 2000 characters
bump_properties[].paragraph88_1_eStuffedPropertyFmv0 to 600000000000
bump_properties[].partnershipAccruedGainOnDepreciableProperty0 to 600000000000
bump_properties[].partnershipAccruedGainOnNonCapitalProperty0 to 600000000000
bump_properties[].partnershipResourcePropertyFmv0 to 600000000000
bump_properties[].prescribedAmountC0 to 600000000000
bump_properties[].section80CostAmountReduction0 to 600000000000
parent.acbOfSubShares0 to 600000000000
parent.pucOfSubShares0 to 600000000000
subsidiary.capitalAndLifeInsuranceCapitalDividendsOnSubShares0 to 600000000000
subsidiary.netTaxValueOfAssets0 to 600000000000
subsidiary.taxableDividendsDeductibleOnSubShares0 to 600000000000

Output cells (56)

Paths are relative to this target’s result object in the response.

Output cells for section-88
CellTypes
appliesboolean
parent.acbOfSubSharesnumber
parent.pucOfSubSharesnull | number
parent.deemedProceedsOnSubSharesnull | number
parent.capitalGainOnSubSharesnull | number
subsidiary.netTaxValueOfAssetsnumber
subsidiary.taxableDividendsDeductibleOnSubSharesnull | number
subsidiary.capitalAndLifeInsuranceCapitalDividendsOnSubSharesnull | number
subsidiary.dividendsPaidToParentSinceAcquisitionnull | number
subsidiary.dividendReduction88_1_d_i_1null | number
subsidiary.insideBasisPlusDividendsnull | number
subsidiary.deemedGainUnder69_11number
aggregateBumpLimitnumber
bumpDesignationBasisstring
bumpProperties[].labelstring
bumpProperties[].costAmountnumber
bumpProperties[].fmvAtAcquisitionOfControlnumber
bumpProperties[].deemedFmvAtAcquisitionOfControlnumber
bumpProperties[].partnershipLookThroughReductionnumber
bumpProperties[].paragraph88_1_eReductionnumber
bumpProperties[].prescribedAmountCnumber
bumpProperties[].isDepreciableboolean
bumpProperties[].isPartnershipInterestboolean
bumpProperties[].isCapitalPropertyboolean
bumpProperties[].isResourcePropertyboolean
bumpProperties[].bumpEligibleboolean
bumpProperties[].ineligibilityReasonnull | string
bumpProperties[].perPropertyCeilingnumber
bumpProperties[].section80CostAmountReductionnumber
bumpProperties[].bumpAllocatednumber
bumpProperties[].newAcbnumber
bumpProperties[].subsidiaryDeemedProceedsnull | number
bumpProperties[].subsidiaryGainnumber
totalBumpAllocatednumber
unusedBumpRoomnumber
traps[].findingCodestring
traps[].filingDispositionstring
traps[].citationKeystring
traps[].severitystring
traps[].titlestring
traps[].bodystring
warnings[]string
warnings[].codestring
warnings[].findingCodestring
warnings[].filingDispositionstring
warnings[].messagestring
warnings[].severitystring
blockingboolean
readyboolean
provisionalboolean
citationsApplied[]string
citations[].keystring
citations[].sectionstring
citations[].descriptionstring
citations[].source_urlstring
citations[].verified_atstring
Filemark | section-88 cells