Search - connection

Personal or living expenses 2.34 Expenses relating to an individual’s home that are personal or living expenses are specifically precluded from deduction by paragraph 18(1)(h). 2.35 The term personal or living expenses is defined in subsection 248(1) to include: “… the expenses of properties maintained by any person for the use or benefit of the taxpayer or any person connected with the taxpayer by blood relationship, marriage or common-law partnership or adoption, and not maintained in connection with a business carried on for profit or with a reasonable expectation of profit.” 2.36 Generally, an expense is incurred in connection with a business if there is a business purpose or need for the expenditure. ...

For more information, see Lottery Prize Commissions. 1.17 Paragraph 40(2)(f) specifies that no taxable capital gain or allowable capital loss results from the disposition of a chance to win or a right to receive an amount as a prize in connection with a lottery scheme. ... Pool system betting 1.19 Paragraph 40(2)(f) also provides that no taxable capital gains or allowable capital losses arise from the disposition of a chance to win a bet or a right to receive an amount as winnings on a bet in connection with a pool system of betting. ...

Whether these are part of the same business depends upon the connection, interlacing, dependence, and unity, of the operations. ...

Accordingly, such an artist or writer is entitled to deduct reasonable expenses incurred in connection with earning income from that business, except to the extent that they are denied, or limited, by a provision of the Income Tax Act. ... He enjoys mixing with other artists, talking to people, and making connections. ... An artist would generally be considered to have made a gift of capital property when the property gifted is property that would not normally be produced and sold in connection with their business. ...

In connection with this use, the purpose test will be met if the borrowed money replaces capital (contributed capital or accumulated profits) that was being used for eligible purposes that would have qualified for interest deductibility had the capital been borrowed money. 1.49 Contributed capital generally refers to funds provided by a corporation’s shareholders to commence, or otherwise further, the carrying on of its business. ... In connection with this use, the purpose test will be met if the borrowed money replaces accumulated profits of a corporation that have been retained and used for eligible purposes. ... The nature of the security provided in connection with borrowed money, or an amount payable for property acquired, has no impact on the tests for interest deductibility. ...

A qualified ZETM activity, other than the conversion of a vehicle as described in 1.37.3, must first be a qualified activity for the purposes of determining eligibility for the M&P credit as discussed beginning in ¶ 1.33. 1.37.2 A qualified ZETM activity, as defined in clauses 5202(a)(i)(A) to (O) of the definition of a qualified ZETM activity, is an activity performed in connection with the manufacturing or processing of certain property described as follows: certain solar, wind, or water energy conversion equipment; geothermal energy equipment; equipment for a ground source heat pump system; air‑source heat pump equipment designed for space or water heating; certain electrical energy storage equipment used for storage of renewable energy; certain equipment used to charge, or to dispense hydrogen to a zero-emission vehicle; equipment used for the production of hydrogen by electrolysis of water; nuclear energy equipment; heavy water used for nuclear energy generation; nuclear fuels used for nuclear energy generation; nuclear fuel rods. The manufacturing or processing of equipment that is a component of property included in the above list of activities may be a qualified ZETM activity if such equipment is purpose‑built or designed exclusively to form an integral part of that property. 1.37.3 A qualified ZETM activity is also an activity performed in connection with the manufacturing or processing of zero‑emission vehicles as defined in paragraph (a) of the definition of zero-emission vehicle in subsection 248(1), or of automotive equipment (other than a motor vehicle) that is fully electric or powered by hydrogen. ... The conversion, performed in Canada, of a vehicle (that is not a zero-emission vehicle) into a zero-emission vehicle can also qualify. 1.37.4 The manufacturing or processing of general purpose components or equipment that are suitable for integration into property other than property described in ¶1.37.2 and 1.37.3 do not qualify as a ZETM activity. 1.37.5 Paragraph (b) of the definition of a qualified ZETM activity in section 5202 of the Regulations provides that qualified activities that are performed in connection with production in Canada of certain gases and fuels may be qualified ZETM activities. ...

It would therefore be taxable on any premiums or other income earned in connection with such activities (or be revocable in the case of an RESP). ... If a plan were to borrow money, the adverse tax consequences discussed in ¶ 1.83 would apply. 1.43 It is common practice for brokerage firms to impose margin requirements in connection with various options strategies. ... This position does not apply to borrowing that arises in connection with a cashless exercise of warrants or a margin account. 1.85 The borrowing restrictions discussed in ¶1.83 do not apply where a registered plan acquires a qualified investment that is payable on an instalment basis (see ¶ 1.67). ...

As described in ¶1.20, receipt of a benefit frequently disqualifies a student from being entitled to an education tax credit, or being a qualifying student, in connection with a program as the student is not enrolled in a qualifying educational program. ... Income from employment 1.29 For tax years prior to 2004, a program was excluded from the definition of a qualifying educational program if the program was taken by a student during a period in which the student received income from an office or employment and the program was in connection with or as part of the duties of that office or employment. ...

In addition, the plan is subject to the special refundable tax regime described in Part XI.3. 3.33 Generally, an RCA is an arrangement under which an employer makes contributions to a third-party custodian in connection with benefits that are payable to employees after retirement or termination of employment. ... However, if a foreign plan otherwise meets the RCA definition and employer contributions have been made in connection with services rendered by Canadian‑resident employees and certain other conditions are met, the RCA residents’ arrangement rules in subsections 207.6(5) and (5.1) may apply to treat the Canadian portion of the plan as an RCA. ...

However, there must be a reasonable connection between the professional membership and the position or job held by the employee. ...