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11 August 2006 External T.I. 2006-0195781E5 F- Bourses de perfectionnement-- summary under Subsection 5(1) Summary Under Tax Topics- Income Tax Act- Section 5- Subsection 5(1) changed tests for distinguishing employment following Sagaz and Wolf Before going on to indicate that Natural Sciences and Engineering Research Council of Canada fellowships paid to host organizations to cover $30,000 of the minimum $40,000 cost of engaging graduates to engage in authorized research projects likely were employment income “because of the relationship of subordination that appears to exist between the … recipient and the host organization,” and after referring to the Sagaz and Wolf decisions, CRA stated: As a result of these judgments, the CRA has developed an approach to assess the overall relationship between the parties to determine the nature of the working relationship. ...

. … Generally, a corporation is resident at the place where it is actually managed and controlled. ...

Whether there is a gift is a question … of civil law. 3. Where, in the context of a transfer of property, the general rules of contract and obligation and all the specific conditions of a gift in civil law are satisfied, we are of the view that the gift will generally be considered a gift for the purposes of the Act. ...

. … Given that the purpose of paragraph 67.1(2)(c) is to exempt the taxpayer only where the payer is subject to subsection 67.1(1), we are of the view that the words "specifically notified in writing" used in the wording of paragraph 67. 1(2)(c) assume that there is no ambiguity as to the amount subject to subsection 67.1(1) in the hands of the payer, in order for the taxpayer to be able to rely on the exemption in paragraph 67.1(2)(c). ...

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In the second case, there would be no benefit under s. 15(1), and also no benefit under s. 105(1) given that the shareholder was related to a beneficiary – whereas, in the first case, there could be a s. 15(1) benefit conferred by the corporation. ...

The issue of determining the fair market value of shares owned by a person immediately before death and how to allocate the fair market value of a life insurance policy among different classes of shares is a question of fact …. ...

Thus, the taxpayer and the corporation are "related persons" by virtue of subparagraph 251(2)(b)(iii) ….. ...

Furthermore, in our view, it is not possible to conclude that there are two separate allowances …. ...

After finding that the rent was not required to be included in their income, as there was no source of income, CRA went on to state: [W]hen disposing of a rental property … you may be able to take advantage of the principal residence exemption when disposing of the residence if the property is used as a principal residence. ...