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Rulings The reallocation of the properties in Fund 1 to Fund 2 will result in Fund 1 ceasing to exist and Fund 2 as continuing to exist for s. 138.1(1)(a) purposes and be considered to be a transfer by Trust 1 of all of its property to Trust 2 for the purpose of s. 107.4, with s. 107.4(3)(j) applying to deem each of the Fund 1 Policyholders to have disposed of their capital interests in Trust 1 for proceeds equal to the cost amount of such capital interests immediately before the disposition and to have acquired capital interests in Trust 2 at a cost equal to the amount determined by subparagraph 107.4(3)(j)(ii). ...

B considered to have received a designated benefit by virtue of her being alive at the time of the formation of the estate on the death of Mr. ...

Rulings No portion of the cash or near cash investments distributed by Opco to Holdco, or by Holdco to Parent, will be considered to be subject property of an RCA for the purposes s. 207.6(1), or a “contribution” made to an RCA, in respect of the SERP Obligations that will be assumed by Parent. ...

CCRA indicated that although s. 40(3.4) would apply, under its administrative position, only 1/2 of the taxpayer's loss would be considered to be nil under s. 40(3.4)(a) under the formula: Deemed nil loss = (the lesser of S, P and B) / S x L where S = the number of shares disposed of at that time 100 P = the number of shares acquired during the period described in paragraph 40(3.3)(b) 50 B = the number of shares remaining at the end of that period 50 L = the loss on the disposition otherwise determined And therefore: Deemed nil loss = 50 / 100 x L CCRA indicated that s. 40(3.4) would apply to the entire loss arising under a second variation, under which, on June 1, 200X, the taxpayer disposed of 50 of the 100 Pubco common shares and on June 2, 200X, acquired an additional 50 Pubco common shares of Pubco. ...

Can the minor child be considered, in these Scenarios, to have sole beneficial interest in the amounts payable under the annuity as required by s. 60(l)(ii)(B) as it was proposed to be amended [which stipulated that the annuity be one "under which the taxpayer, or a trust under which the taxpayer is the sole person beneficially interested in amounts payable under the annuity, is the annuitant …"]? ...

An affiliated employer does not include a person who would not otherwise be related or considered affiliated with another person but for the definition of "person related to the employer" in section 60(j.1)(iv). ...

The Directorate stated: Since Parliament used the term "deducted" as opposed to "deductible" in paragraph 111(3)(a), we are of the view that any portion of the loss actually deducted by the Corporation in previous taxation years must be considered, even if the taxpayer deducted an amount in error [citing Dominion of Canada General Insurance]. ...

Therefore, book debts that have been reduced by outstanding cheques on the date of the end of a fiscal period cannot be considered to have been paid on that date for the purposes of the tax under Part I.3 of the Act. ...

For the purposes of Part XIII and s. 116, any amount paid or credited by a payer to the sub-custodians in respect of property held by a Sub-Fund on behalf of the New Investors, including purchase consideration for such property, will be considered an amount paid or credited to the New Investor in proportion to its co-ownership interest in the assets and Gross Income of the particular Sub-Fund. ...

Ruling ForCo will not be considered to be carrying on business through a permanent establishment, as defined in Art. ...