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10 April 1985 Income Tax Severed Letter DATE April 10, 1985 To- APPEALS BRANCH Appeals & Referrals Division FROM- RESOURCES INDUSTRIES SECTION G.R. ...

With regard to the out-of-court settlement, we would indicate that, in our view, this payment could not be considered an amount received "... as, on account or in lieu of payment of, or in satisfaction of a benefit under the Unemployment Insurance Act, 1971" (subparagraph 56(1)(a)(iv) of the Income Tax Act). ...

Chief Service Public Utilities & Exemption Corporation Section Specialty Corporations Rulings Division Corporate Rulings Directorate Legislation Branch ...

This operation represents, in your opinion, the operation of a business activity. 5) The partnerships are located in Ontario & Quebec. ...

11 August 1980 Income Tax Severed Letter August 11, 1980 Policy & Systems Branch Assessing Division Non-Corporate Rulings Division Peter K. ...

Ainsi, dans l'exemple que vous nous donniez au téléphone: PBR du bien $200,000 JVM à la date du transfert 0 Produit reçu par le C/T $ 60,000 il y aurait lieu de réduire l'avantage à $30,000 si (i) la perte en capital n'est vas réputée nulle en vertu de 85(4) et si (ii) dans l'année où le transfert a été effectué ou dans l'année antérieure le montant de la perte en capital déductible additionnelle de $30,000 avait été entièrement admissible. ...

THOMPSON Chief Merchandising, Manufacturing, & Construction Section Corporate Rulings Division Corporate Rulings Directorate Legislation Branch DSD/jw 18(1)(1), Reg. 1102(1)(f) ...

Rowntree & Co. Ltd., [1945] 1 All E.R. 482; Dupuis Frères Ltd. v. ...

You have provided an example of a series of loans and repayments involving a corporation with a June 30 year end, as follows: Date Balance Fiscal Year Change 30 June 78 $ Nil 31 Dec. 78 Nil $15,000 30 June 79 15,000 31 Dec. 79 35,000 10,000 30 June 80 25,000 31 Dec. 80 30,000 15,000 30 June 81 40,000 31 Dec. 81 46,000 30 June 82 Not Known In your view, the $10,000 increase for the period 31 Dec. 80- 30 June 81 should be taxed immediately for the 1981 taxation year, regardless of whether all or a portion of the $6,000 increase for 30 June 81- 31 Dec. 81 may later be brought into income for the same year. ...

Since the primary objective of the corporation described in your letter is the carrying on of a business enterprise, it could not be said to be operated ".. exclusively... for any other purposes except profit". ...