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Where an employee undertakes a course of studies as a means of enhancing his chances of a promotion in the short term or enhancing his overall career opportunities in the long term, then the primary benefit is considered to be derived by the employee even though the employer may also benefit from the employee's higher level of education". ...

24 April 1995 External T.I. 9504865- EXCHANGES OF PROPERTY-- summary under Subsection 44(1) Summary Under Tax Topics- Income Tax Act- Section 44- Subsection 44(1) A shareholder whose shares are acquired pursuant to s. 188 of the Business Corporations Act (Ontario) will be considered to have received his sale proceeds either as compensation for property taken under statutory authority or as the sale price of property sold to a person by whom notice of an intention to take it under statutory authority was given. ...

7 May 1995 Internal T.I. 9510220- PART I.3, O/S CHEQUES & OVERDRAFTS-- summary under Subsection 181.2(3) Summary Under Tax Topics- Income Tax Act- Section 181.2- Subsection 181.2(3) Bank overdrafts are considered to have arisen to the extent that they have been utilized or drawn upon. ...

Where it is impossible to trace which part of the funds in the RRSP is reasonably attributable to contributions to the RRSP or income on these contributions, the Department is prepared to accept that an amount of money not exceeding the total contributions by the particular individual to the RRSP be considered contributions to the RRSP for the purposes of the definition of qualified trust... ...

In a situation where it could be established that the licensing income is related to an active business carried on by the recipient corporation or the recipient corporation is in the business of dealing in or originating the property from which the licensing income is received, such income could be considered to be income from an active business. ...

[W]here the use of the tennis courts and weight/exercise room and all other services are available to members in consideration for membership fees and per use charges, the corporation would generally be considered to be carrying on an active business. ...

17 July 1995 External T.I. 9505095- MEANING OF "BECAUSE OF A BEQUEST OR INHERITANCE"-- summary under Paragraph 88(1)(d.2) Summary Under Tax Topics- Income Tax Act- Section 88- Subsection 88(1)- Paragraph 88(1)(d.2) Where the shares of a Canadian corporation are held by the estate of the deceased shareholder until probate, then distributed to the beneficiary, who then transfers the shares to a holding company which then winds up the Canadian corporation, the acquisition of the shares of the Canadian corporation by the beneficiary from the estate will be considered to be an acquisition "because of a bequest or inheritance". ...

However, the credit operations (moneylending, trade finance, financial guarantees), deposit taking, cheque clearing, cash and asset management, custodial or fiduciary services performed under contract (not as a trustee), financial product sales and the foreign exchange operations of a regulated foreign bank would generally be considered part of a single business... ...

Parent to acquire flow-through shares issued by one of its wholly-owned subsidiaries would not be considered to be attributable to the assets or activities of a permanent establishment of the U.S. parent in Canada through which it carried on business (with the result that the resulting interest expense would not be deductible in computing the income of the permanent establishment), RC stated that "the meaning of the term 'attributable to' as used in paragraph 7 of Article VII of the Treaty has the same meaning as the term 'effectively connected' as used in Articles X, XI and XII of the Treaty since in both cases the term is relating the income or the income source to the PE of U.S. ...

Accordingly, "where an arm's-length intermediary is involved in a payment flow, an amount would be considered to be paid or payable directly or indirectly by another qualified foreign affiliate to a particular foreign affiliate where the payment can be traced and shown to be a payment made directly or indirectly to a particular foreign affiliate that was deductible by the other foreign affiliate in computing its earnings or loss from an active business". ...