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3 July 1991 Ministerial Letter 911218 F- Health and Welfare Trust Unedited CRA Tags 15(1), 6(1)(a)(i), 18(1)(a)                                         911218                                         Marc Vanasse          (613) 952-0243 July 3, 1991 Dear Sirs: Re:  Health & Welfare Trust   24(1) This is in reply to your letter dated   24(1)   wherein you requested our comments as to the acceptability of the trust agreement as a Health & Welfare Trust. The following are our general comments and areas of concerns with respect to the Health & Welfare Trust agreement. 1.      ... The following wording could be incorporated in the trust document:      No property of the trust, whether such property is acquired from the capital or income of the trust, shall be invested in the shares, notes, bonds, debentures or similar indebtedness issued by (a)       the company, (b)       a person who does not deal at arm's length with the company, or (c)       a person who is a member of a group of persons not dealing at arm's length with the company,      nor shall any such property of the trust be invested in property which is or will be used directly or indirectly, solely or otherwise, by the company or any person who does not deal at arm's length with the company or who is a member of a group of persons not dealing at arm's length with the company.  ...

In your letter you outlined the following hypothetical situation:-      A holding corporation ("Holdco") was incorporated in British Columbia in January 1987.-      100% of the issued shared of Holdco are owned by Canadian personal trust, the beneficiary of which is a resident individual.-      Holdco is assumed to be a Canadian controlled private corporation as defined in subsection 125(7) of the Act.-      In February 1987. ... The partnership interest and the loan receivable are Holdco's only assets.-      Holdco's only liability is a$400,000 debt payable to a related person. The loan has the same terms as the loan made by Holdco to the partnership.-      The partnership has been engaged in an active business since February 1987. ...

21 September 1990 Ministerial Letter 90M11428 F- Revised SR&ED Brochure Unedited CRA Tags n/a   September 21, 1990 Maryanne Taylor Business and General Communications Officer Division Writing and Editorial Services F.B. ... These revisions, highlighted by a red "X" in the left-hand margin, are explained briefly as follows:-         The word "Specialty" has been deleted from the second paragraph of the page preceding the contents.-         The word "of" has been deleted from the phrase "outside of Canada" in the second paragraph on page 3.-         The example on page 6 has been amended.-         The words "at least" have been added to, and the words "or more" have been deleted from, the third paragraph on page 7. ...

Rathwell File No. 7-4728 SUBJECT: 24(1) This is in reply to your memorandum of February 15, 1990 wherein you requested our opinion regarding 24(1) Facts Our understanding of the facts is as follows: 1.     24(1) 2.     24(1) 3.      4.     24(1) Issues 5.     The issues on which you have requested our opinions are: (a)     24(1) (b)      District Office Opinion 6.      ... We cannot distinguish the case at hand from the Cross case and accordingly, 24(1)      24(1) 11.     24(1) we considered the comments of Estey, J., in Stock Exchange Building Corporation Ltd. v. ...

Addendum to Q-87: Q-87 – 26 septembre 1996 – Addendum Information on the number of personal trusts that existed in 1972 is not available. ... The breakdown by province is as follows: NF 400 PE 329 NS 2,823 NB 1,141 QC 16,705 ON 56,339 MN 6,294 SK 4,035 AB 10,517 BC 18,635 NT 294 YK 130 117,642 Q-87 — 26 septembre 1996 — XXXXXXXXXX Concernant les fiducies familiales: a)quel est le nombre total précis de fiducies familiales reconnues par Revenu Canada depuis 1972; b)quel est le nombre précis de fiducies familiales par rapport à la valeur des actifs accumulés, selon les catégories suivantes: (i) 100 000 $ et moins, (ii) 100 000 $ à 500 000 $, (iii) 500 000 $ à 1 million $, (iv) 1 million $ à 5 millions $, (v) 5 millions $ à 25 millions $, (vi) 25 millions $ à 100 millions $, (vii) 100 millions $ à 500 millions $ à 1 milliard $ et (ix) le nombre de fiducies familiales d'un milliard $ et plus, en les décrivant une à une et c)pour chacune des catégories, précisez la provenance par province canadienne en pourcentage? ...

19 April 1990 Ministerial Letter 80358 F- Canadian Exploration Expense of a New Mine Unedited CRA Tags 66.1(6)(a)(iii.1)   April 19, 1990 TO Appeals & Referrals Division FROM  Rulings Directorate Appeals Branch Resource Industries   Section Mr. ... Your understanding of subparagraph 66.1(6)(a)(iii.1) both before and after the 1985 amendment is as follows:      "The present wording of subparagraph 66.1(6)(a)(iii.1) is:      "any expense incurred by him after November 16, 1978 for the purpose of bringing a new mine in a mineral resource in Canada into production in reasonable commercial quantities and incurred before the coming into production of the new mine, including..." (emphasis added)      This subparagraph was amended by 1985, c.45, s29(8) applicable with respect to expenses incurred after May 9, 1985.  ...

Consequently, the amount of the Superallowance or OCCA is not "government assistance" as defined in subsection 127(9) and the following provisions of the Income Tax Act will not be applied solely as a result of a taxpayer claiming the resulting deduction in calculating Ontario taxable income:-     paragraph 12(1)(x);-      subsection 13(7.1);-      paragraph 37(1)(d); and-      paragraph 53(2)(K). ...

Facts The hypothetical facts of the situation follow: 1.      2.     24(1) 3.      4.      5.     24(1) Issue Your enquiry asks whether it is our view that the cash proceeds of the offering are being used in the corporation's business as soon as they are released to the corporation. ...

Also, paragraph 7 of IT 297R2, (copy attached) states that      "Gifts to Her Majesty in right of Canada and Her Majesty in right of the provinces include gifts to an agent of the Crown.  ... Yours truly, for Director  Business and General DivisionSpecialty Rulings Directorate Legislative and Intergovernmental  Affairs Branch c.c.      Charities Division         B. Fioravanti Current Amendments Division ...

Eventually, the taxpayer locates a purchaser and sells all the shares of Newco, reporting the proceeds as a capital gain.       ... "      Although this article relates to GAAR, it is our view that  these comments are equally relevant for purposes of subsection 55(2) of the Act and should be included in the Participants Package. 3.      ... "      Similar amendments may also be needed to the points mentioned under the heading "Treatment of Liabilities" on page 67 of the Lesson Plan. 22.      ...