Search - consideration

However, consideration should be given to whether the inclusion of such directions in the will is valid under the relevant provincial law and that the spouse trust has been validly constituted. 1.14 In relation to the Province of Quebec, subsection 248(3) deems a usufruct, a right of use or habitation, or a substitution governed by the laws of the Province of Quebec to be a trust for purposes of the Act. ...

The determination of whether a plan is a pension plan is a question of fact, as there is no definition in the Act. 3.3 The CRA generally considers a pension plan to exist where contributions are: made to the plan by or on behalf of an employer or former employer of an employee; made in consideration for the employee’s employment services; and used to provide an annuity or other periodic payment on or after the employee's retirement. ...

Note that subsection 248(26) clarifies that an amount that a debtor becomes liable to pay (other than interest) as consideration for any property acquired by, or services rendered to, the debtor is considered to be an obligation issued by the debtor with a principal amount equal to the amount of the liability. ...

The allocation of the proceeds of disposition and adjusted cost base of the total property between the two portions does not necessarily have to be on the basis of area – consideration should be given to any factors which could have an effect on the relative value of either of the two portions. 2.38 The comments in this section do not apply if the property includes land used in a farming business (see instead ¶2.39 to 2.46). ... Subject to the additional rules discussed in ¶2.66.1 for dispositions after 2016, the normal principal residence exemption rules generally apply, taking into consideration the following modifications: When a personal trust designates a property as its principal residence for one or more tax years, the trustee of the trust must complete and file Form T1079, Designation of a Property as a Principal Residence by a Personal Trust. ...

This requires a consideration of all relevant facts and information. Factors relevant to this determination are discussed throughout the rest of this Chapter. 3.6.1 Beginning in the 2017 tax year, the education and textbook tax credits have been eliminated and will no longer be available for a student to claim. ...

This calculation is made: using a notional combined federal and provincial or territorial corporate rate of tax of 37%; allowing for certain modifications depending on the tax year in question; and without taking into consideration the specified future income tax consequences for those tax years. 2.117 Dividends received by the corporation in the transition period are generally not included in the GRIP addition calculation. ...