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Réponse de l'Agence des douanes et du revenu du Canada Pour la détermination du contrôle de droit d'une société par actions pour les fins de la Loi, il faut prendre en considération la loi sur les sociétés par laquelle est régie la société par actions, le registre des actionnaires, les statuts et règlements de la société par actions, et toute convention unanime des actionnaires (voir la décision Duha Printers (Western) Ltd.c. ... De plus, à notre avis, il faut aussi prendre en considération le contrat de société d'une société en commandite ou d'une société en nom collectif lorsqu'une telle société détient des actions d'une société par actions. ...

Our Comments The "imputed rent" method of quantifying a shareholder benefit is described at paragraph 11 of Interpretation Bulletin IT-432R2- Benefits Conferred on Shareholders as follows: The calculation of the amount or value of the benefit is usually based on the fair market rent for the property minus any consideration paid to the corporation by the shareholder for the use of the property. ... Any consideration paid to the corporation by the shareholder for the use of the property is then subtracted from the imputed rent. ...

Similarly, while the CRA does not apply subsection 75(2) to a genuine loan of cash, including a conditional sales agreement for the sale of property, solely by reason of the fact that the outstanding debt will be repaid, subsection 75(2) of the Act does apply if a capital beneficiary of a trust transfers property to that trust, regardless of whether or not the capital beneficiary receives fair market value consideration. 2006 STEP Round Table Q4. ... Note that, while the CRA does not apply subsection 75(2) to a genuine loan of cash, including a conditional sales agreement for the sale of property, solely by reason of the fact that the outstanding debt will be repaid, subsection 75(2) of the Act does apply if a capital beneficiary of a trust transfers property to that trust, regardless of whether or not the capital beneficiary receives fair market value consideration. ...

The payment is consideration for the shares. The issue of shares is not a transfer since the corporation has not divested itself of its property: the shares were never owned by the corporation. ... The corporation is usually enriched, not impoverished, when shares are issued for consideration; when a corporation issues a stock dividend it is neither enriched nor impoverished. ...

It is the general view of the Canada Revenue Agency that the cost of property to a corporation acquired in consideration for the issuance of shares should generally reflect the price agreed to between the parties. ... Similarly, where a debt of a corporation is settled by issuing shares to the lender in consideration therefor, absent evidence to the contrary, the amount added to the stated capital account of the corporation is relevant in determining the cost to the corporation of settling the debt. ...

Calculate the tax on the revised taxable income, taking into consideration all applicable deductions, such as non-refundable credits, and any amount that is wholly attributable to the amount of income understated. 3.Calculate the tax on the reported taxable income. 4. ... Second, calculate the tax on the revised taxable income, taking into consideration all applicable deductions, such as non-refundable credits, and any amount that is wholly applicable to the amount of the income understated. ...

In consideration of the above, you have asked whether the principal residence exemption would be available with respect to Mr. ... As such, for purposes of this determination, while a property will not qualify as the taxpayer's principal residence for any year in which the taxpayer is not a resident of Canada, the amount of any capital gain that could be subject to tax in Canada remains a question that can only be determined in consideration of all relevant facts and circumstances that are applicable in any particular situation. ...

Therefore, it must represent an undertaking by one person to indemnify another person, for an agreed consideration, from a loss or liability in respect of an event, the happening of which is uncertain. ... However, a cost-plus plan under which the administrator agrees to reimburse the sole employee-shareholder, his or her spouse, and members of his or her household for actual medical and hospital expenses and receives, as consideration, an amount equal to the amount reimbursed plus an administrative fee, does not qualify as a PHSP since it does not contain the necessary elements of insurance. ...

The following factors indicate that a particular receipt is a windfall: (a) The taxpayer had no enforceable claim to the payment, (b) The taxpayer made no organized effort to receive the payment, (c) The taxpayer neither sought after nor solicited the payment, (d) The taxpayer had no customary or specific expectation to receive the payment, (e) The taxpayer had no reason to expect the payment would recur, (f) The payment was from a source that is not a customary source of income for the taxpayer, (g) The payment was not in consideration for or in recognition of property, services or anything else provided or to be provided by the taxpayer, and (h) The payment was not earned by the taxpayer as a result of any activity or pursuit of gain carried on by the taxpayer and was not earned in any other manner. ... It states that amounts received as gifts, that is, voluntary transfers of real or personal property without consideration, are not subject to tax in the hands of the recipient. ...

Reasons: Consideration of all relevant facts and circumstances is needed. ... Whether a person carries on a business in Canada is a question that requires consideration of all relevant law, as well as the particular facts and circumstances of the particular situation. ...