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3 November 1989 Administrative Letter 74176 F- Assessing Practice Unedited CRA Tags 185(1), 83(2), 130.1(4), 131(1), 152(4), Part III, 185(3)   November 3, 1989 Assessing and Enquiries Directorate Specialty Rulings   Directorate   Firoz Ahmed   957-2092 D.I. Wyse, Chief Your file: HAV 4533-3-4 Trust and SER Assessing Section   File No. 7-4176 Subject: Subsection 185(1) of the Income Tax Act (the "Act") This is in response to your memorandum of July 25, 1989, as supplemented by your memorandum of August 31, 1989, in which you requested our opinion as to the interpretation of subsection 185(1) of the Act. Subsection 185(1) of the Act provides that:      "The Minister shall, with all due dispatch, examine each election made by a corporation in accordance with subsections 83(2), 130.1(4) or 131(1), assess the tax, if any, payable under this Part in respect of the election and send a notice of assessment to the corporation. ...

19 November 1990 Administrative Letter 900316 F- Ontario Foreign Tax Credit- Form T2036 Unedited CRA Tags n/a 24(1) 900316   G. Arsenault   (613) 957-2126 19(1) November 19, 1990 Dear Sir: Re:  Ontario Foreign Tax Credit- Form T2036 This is in reply to your letter dated March 26, 1990 whereby you inquired as to whether there is an error in Form T2036 and in the manner in which the Department calculates the Ontario Foreign Tax Credit. ... Yours truly, for DirectorReorganizations and Non-Resident DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch c.c.       ...

The contracted rate for the mortgage loan between the employee and the lending institution is 8.75%. 2.     The employee pays interest a the rate of 6.75%. 3.     The remaining interest cost (2%) is paid to the lender by the employer, through an arrangement agreed to at the inception of the loan. 4.      ... In examining the benefit deemed to have been received by the employee as computed in subsection 80.4(1) of the Act, you have arrived at a benefit of  2.25%, rather than 2%, of the principal amount: Paragraph 80.4(1)(a): 9%   80.4(1)(b): 2%   80.4(1)(c): 8.75%   80.4(1)(d): Nil Then (a) + (b)- (c)- (d) gives 11%- 8.75% = 2.25% In other words, this suggests a taxable benefit to the employee based on 2.25%, notwithstanding that the employer subsidy results in the employee paying an effective interest rate which is only 21 less than the market rate charged by the lender. ...

Various  —  see summary at beginning of reply. REASONS FOR POSITION TAKEN: 1. ... At page 792, the court noted:      "It is not open to question that income can be in the form of money's worth. ... (a)     We are of the opinion that the issuance and receipt of the IDU Bonds was not a payment of interest for purposes of the Canada  — XXXXXXXXXX Income Tax Convention (the "Treaty").       ...

13 July 1989 Administrative Letter 73996 F- Lump Sum Payment to Widow under Pension Plan Eligible for Special Averaging Provision Unedited CRA Tags 40     July 13, 1989 Victoria District Office Head Office   Financial Industries Division Attention:  Mr. ... Adler Chief, Source Deductions (613) 957-8962   File 7-3996 Re:  Section 40 of the ITAR 24(1) Your round trip memorandum of May 31, 1989 addressed to the Source Deductions Division in Head Office was referred to this office for reply. ...

13 December 1989 Administrative Letter 59056 F- Partnership Election Unedited CRA Tags 13(7.4), 53(2.1)   December 13, 1989 TO:  T2-T3 Assessing and Taxroll FROM: Financial Industries J.M. Legault Division Director Clayton Robb   957-2744   5-9056 SUBJECT:  Partnership Election Subsections 13(7.4) and 53(2.1) Enclosed is correspondence from 19(1) relating to elections to be made under subsection 13(7.4) and 53(2.1).  ... DirectorFinancial Industries DivisionRulings Directorate Attachment November 6, 1989 Revenue Canada88 Metcalfe StreetOttawa, OntarioK1A 0L8 Attention: Rulings- Leasing & Financing Division Dear Sirs: RE:     Paragraphs 12(1)(x)(vii), 13(7.4), 53(2)(s), and 53(2.1) the Income Tax Act XXX I have noticed that there is no technical provision for a partnership to make the election outlined in subsection 13(7.4) of the Income Tax Act. ...

Our Comments 1.     The ruling set out in 29 continues to represent the Department's views on amalgamation of NPO's. 2.      ... In this respect, the Department has taken the view that if the letters patent, trust documentation or by-laws of an entity indicate that anything more than the return of capital or taxable capital gains as provided by section 149(2) of the Act may be made available to members by way of dividend or otherwise, whether on winding-up or otherwise, such an entity will not receive tax-exempt treatment.       ... Where, however, the dividends are paid by a related or associated NPO the comments in 4 above apply. 6.      ...

In order for the subparagraph 212(b)(vii) exemption to apply, the person making an interest payment must a)     be a corporation resident in Canada; b)     deal at arm's length with the non-resident recipient of the payment; and c)     be the corporation that issued the debt obligation. ... Sale and Return of Debt The second question relates to the following hypothetical situation:      As part of a securities lending arrangement, a Canadian resident sells a qualified debt security to an arm's length non-resident in exchange for $100. ... We also refer to Olympia & York Developments Ltd. v The Queen, 80 DTC 6184(FCTD), at p. 6193. ...

31 August 1992 Administrative Letter 9222076 F- Whether Partnership Interest Is CDN Resource Property Unedited CRA Tags 66(15) Canadian resource property, 66.1(4)(b)(ii), 66.7(3)(b)(i)   922207   John Chan   (613) 957-8975 August 31, 1992 Appeals and Referrals DivisionResource Industries SectionDon BeamishSection Chief Attention: D. ... In general terms, the first successor and second successor rules as they applied to taxation years ending before February 18, 1987 (the "old successor rules") provided for the computation of the first or second successor's deduction by reference to production from Canadian resource property in respect of which the successor had an interest; or had a right to take or remove petroleum or natural gas or a right to take or remove minerals from the Canadian resource property (hereafter referred to as the "right to take")-      see for example, subparagraphs 66.1(4)(b)(ii) and (5)(b)(ii) pertaining to the first and second successor's deduction, respectively, of successored Canadian exploration expense ("CEE"). ...

23 December 1991 Administrative Letter 9131046 F- Remote or Special Site Unedited CRA Tags 6(6), 110.7   913104 Remote or Special Work Sites This is in reply to your memorandum dated December 9, 1991 wherein you requested that we review your draft response to the 24(1).  ... A residence is considered to be a self- contained domestic establishment if it is a living unit with restricted access that contains a kitchen, bathroom and sleeping facilities.  24(1) When considering this general rule and its specific application to the 24(1) work site one must consider: 1)       whether there is an established community, as defined in paragraph 11 of IT91-R3, at which the taxpayer can reasonably be expected to establish and maintain a self-contained domestic establishment.  ... However, the site may be considered a special work site if the specific requirements of subparagraph 6(6)(a)(i) of the Act are met.   2)      that in the absence of an established community as mentioned in (1) above, can the 24(1) work site itself be considered to be an established community where the taxpayer can reasonably be expected to establish and maintain a self-contained domestic establishment. ...