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For each subsequent year after the year the retirement income fund was entered into, the minimum amount is the value obtained by multiplying the fair market value of the property held in connection with the fund at the beginning of that subsequent year by a prescribed amount. ...

Determine if guideline 4 applies Generally, the income is exempt from income tax if: You (as the employer) are resident on a reserve You (as the employer) are: A First Nations band which has a reserve, or a tribal council representing 1 or more First Nations bands that have reserves A First Nations organization controlled by a First Nations band which has a reserve, or a tribal council representing 1 or more First Nations bands that have reserves, and the organization is dedicated exclusively to the social, cultural, educational, or economic development of First Nations individuals who for the most part live on reserves Your employee's duties of employment are in connection with your non-commercial activities carried on exclusively for the benefit of First Nations individuals who for the most part live on reserves Learn more: Guideline 4- Indian Act Exemption for Employment Income Guidelines If guideline 4 applies, continue to Step 4- Withhold deductions on the employment income and select income fully tax-exempt. ...

In connection with the subject matter of this bulletin, the current version of one or more of the following bulletins may be of interest: IT-193 Taxable Income of Individuals Resident in Canada During Part of a Year IT-295 Taxable Dividends Received after 1987 by a Spouse IT-326 Returns of Deceased Persons as "Another Person" IT-419 Meaning of Arm's Length Appendix A-- Terminology This Appendix discusses different terms used throughout this bulletin. ...

Similarly, where the inventory is owned by the corporation in connection with a farming business and the corporation calculates its income using the cash method, the amount is deemed to be an amount paid by the corporation at the time of the transfer and to have been paid in the course of its farming business. ...

In connection with a downsizing program that the Minister of National Revenue has approved, subsection 8505(3) of the Regulations provides that certain otherwise non-permissible benefits may be provided under a defined benefit provision. ...

The issuer will exercise the care, diligence, and skill of a reasonably prudent person to minimize the possibility that a holder of an RDSP may become liable to pay tax under Part XI of ITA in connection with the RDSP. ...

Commercial activity of a person means: a business carried on by the person (other than a business carried on by an individual, a personal trust or a partnership, all of the members of which are individuals, without a reasonable expectation of profit), except to the extent to which the business involves the making of exempt supplies by the person, an adventure or concern of the person in the nature of trade (other than an adventure or concern engaged in by an individual, a personal trust or a partnership, all of the members of which are individuals, without a reasonable expectation of profit), except to the extent to which the adventure or concern involves the making of exempt supplies by the person, and the making of a supply (other than an exempt supply) by the person of real property of the person, including anything done by the person in the course of, or in connection with, the making of the supply. ...

Value added attributable to non-basic services in respect of finished inventory "Value added attributable to non-basic services in respect of finished inventory"- A person's percentage value added that is attributable to non-basic services in respect of the person's finished inventory for a fiscal year is the amount (expressed as a percentage) that is determined by the formula: A/B where A is the total of all amounts each of which is part of the total cost to the person of all property that was finished inventory of the person supplied, or used as added property, by the person during the year, and is reasonably attributable to salary, wages or other remuneration paid or payable to employees of the person, excluding any amounts that are reasonably attributable to the performance of basic services, or consideration paid or payable by the person to engage other persons to perform processing, excluding any portion of such consideration that is reasonably attributed by the other persons to tangible personal property supplied in connection with that processing or that is reasonably attributable to the performance of basic services, and B is the total cost to the person of the property. ...

This determination will be generally based on written agreements, between the person providing the service and the person’s client, detailing the actions, responsibilities and obligations of the person in connection with the supply. ...

In connection with the subject matter of this bulletin, the current version of one or more of the following bulletins may be of interest: IT-193 Taxable Income of Individuals Resident in Canada During Part of a Year IT-295 Taxable Dividends Received after 1987 by a Spouse IT-326 Returns of Deceased Persons as "Another Person" IT-419 Meaning of Arm's Length Appendix A-- Terminology This Appendix discusses different terms used throughout this bulletin. ...