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Before finding that such incentive payments were includable in the income of such clients under s. 12(1)(x) (absent any election made under s, 12(2.2) respecting the premiums paid) given inter alia that they were received by such clients “in the course of earning income from … property,” namely, acquiring and holding the policies, CRA cited La Capitale (98 DTC 6215) (also regarding an insurance policy) for the proposition that "’property’ in the Act includes practically any type of economic interest” and indicated that “the Policyholder holds property for the purposes of the Act.” ...

Before going on to indicate that such fees were not deductible under s. 60(o) by the shareholder, the Directorate noted that they would have been deductible by the corporation if incurred by the corporation – but were not deductible under s. 9 by the individual since he was not carrying on a business. ...

. … [T]he 2004-2005 T4130 no longer states that reasonable living expenses are limited to a maximum of 15 days. ...

In finding that the grant amounts should be included in capital under s. 181.2(3)(a), the Directorate stated: [T]he net amount of … government grants, which is not a loan or advance, constitutes funds that the government has injected into the taxpayer. ...

The Directorate found that this note disclosure was sufficient to amount to the grants being reflected in the taxpayer’ balance sheet, stating that the “net amount of grants … is therefore identifiable on the balance sheet and, consequently, paragraph 181(3)(b) requires that that amount be used to determine the taxpayer's capital in subsection 181.2(3).” ...

Consequently, the individual would be deemed to have received a dividend pursuant to subsection 84(1) equal to the amount by which the increase in the PUC … of the preferred shares exceeds the amount by which the PUC of the common shares is reduced. ...

On the other hand, if he acquired the mortgage in the course of a business of purchasing debt obligations, the amount of the discount was only to be included in his income after he had fully recovered his purchase price – although it was acceptable to compute a gain as being realized on the receipt of each blended payment. ...

However, paragraph 6(1)(l) … allows a benefit relating to the operation of an automobile to be included in the income of an employee of a member of a partnership since the employee enjoys the benefit because of the employee’s employment. ...

Consequently, we are of the view that paragraph 67.1(2)(c) would apply in those cases …. ...

In rejecting the retroactive application of this provision, the Directorate stated: Although an order dated after April 1997 may deem or stipulate that child support amounts payable or receivable after that date will be subject to the pre-May 1997 support rules … we are of the view that such tax consequences do not arise because an order has so stipulated. ...