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The GICs provide that “...XXXXXXXXXX ”. It is XXXXXXXXXX position that since most of its clients work and reside on reserve, and purchase the GICs on reserve with tax exempt income, the income earned on the GICs is situs on reserve and should therefore be tax exempt. ...

For example, one of the answers on page 2 of that information says, “ XXXXXXXXXX....” ...

La définition d'une perte apparente se retrouve à l'article 54 de la Loi et se lit en partie comme suit: «perte d'un contribuable résultant de la disposition d'un bien, dans le cas où, à la fois: a) au cours de la période qui commence 30 jours avant la disposition et se termine 30 jours après cette disposition, le contribuable ou une personne affiliée à celui-ci acquiert le même bien ou un bien identique (appelés «bien de remplacement» à la présente définition); b) à la fin de la période visée à l'alinéa a), le contribuable ou une personne affiliée à celui-ci est propriétaire du bien de remplacement ou a le droit de l'acquérir. (...)» ...

Yours truly, Manager Financial Institutions Section Financial Industries Division Income Tax Rulings and Interpretations Directorate Policy & Legislation Branch... ...

The criteria in subparagraph (a)(vii) is met if the property was used by the individual "... principally in the course of carrying on the business of farming in Canada A) in the year the property was disposed of by the individual, or B) in at least 5 years during which the property was owned by the individual... ...

In our view, the training provided under a TTF will generally fall within the non-taxable categories 1 & 2 of Technical News #13. ...

Yours truly, Manager Financial Institutions Section Financial Industries Division Income Tax Rulings and Interpretations Directorate Policy & Legislation Branch ...

Reasons: See file # 970516, 963605, and 931300. Subsection 256(1) of the Act refers to “corporation”, not a Canadian controlled private corporation. ...

Principal Issues: Whether compensation (similar to commission) called a trailer fee to an investment manager for acquiring third party investment passed on to his investor clients whose investments are held in trust would be included in income pursuant to paragraph 12(1)(x) & subsection 12(2.1)? ...

Subsection 248(1) defines “salary or wages” as “... the income of a taxpayer from an office or employment as computed under subdivision a of Division B of Part I...”. ...