Search - considered

Is the deceased's estate considered to be a contributor to the child's trust or is the only contributor the deceased himself? ... Accordingly, the deceased's estate will be considered to be a contributor to the child's trust. ... Therefore, in the given instance, the deceased is also considered to be a contributor to the child's trust. ...

In general…deferred tax is not considered as property of the enterprise because it is not receivable (or payable). …[D]eferred taxes are not considered in the determination of FMV in the context of a butterfly distribution…as well as in a rollover under subsection 85(1). ... In the situation provided, the CRA would not accept the deferred taxes respecting the assets held by the corporation being considered in the determination of the FMV of the shares of the corporation. ...

In finding that this did not give rise to a taxable benefit, CRA indicated that: "for the purposes of 15(1) we have generally not considered that a benefit is conferred on a shareholder by reason of the making of a loan to that shareholder…[except] where, for example, there is no reasonable expectation of repayment of the loan amount" furthermore, applying s. 15(1) also is problematic as the "loan has been made to Investco, which is not, itself, a shareholder of Holdco" "since the amount advanced by Holdco to Investco was a "loan", there is no "payment" that would be considered to have been made that would allow the provisions of s. 56(2) to apply to include the loan amount in the income of Mr. A" unlike Massicotte, the case "does not involve a holder of shares of a parent corporation obtaining a benefit from a subsidiary corporation" s. 246(1) "does not permit characterizing a loan to a corporation as, instead, one made to the individual who controls that corporation in order to then calculate a benefit under paragraph 80.4(2" As there have been no relevant changes since Cooper, s. 105(1) "would not be considered favourably as a ground for including a foregone interest benefit in the income of Mr. ...

11 August 2015 External T.I. 2014-0527291E5 F- Remboursement de frais médicaux-CIMAD-- summary under Paragraph 118.2(3)(b) Summary Under Tax Topics- Income Tax Act- Section 118.2- Subsection 118.2(3)- Paragraph 118.2(3)(b) Quebec Tax Credit for Home-Support Services for Seniors does not reduce METC 2013-0490901I7 reversed 2001-0113237 in finding that the Ontario Healthy Homes Renovation Tax Credit would not be considered a "reimbursement" for purposes of s. 118.2(3)(b). What about the Québec refundable tax credits could be considered as a "reimbursement" of medical expenses for purposes of paragraph 118.2(3)(b), in particular, the Tax Credit for Home-Support Services for Seniors ("CIMAD"), the Independent Living Tax Credit for Seniors ("CIALB") and the Rehabilitation Centre Tax Credit ("CISUT") – and may an individual who has treated a CIMAD as a medical expense for such purposes amend their tax returns for the last 10 years to adjust the calculation of the Medical Expenses Tax Credit ("METC")? CRA stated: [T]he CIMAD, CIALB and CISUT would not generally be considered a "reimbursement" for purposes of paragraph 118.2(3)(b) in a situation where an expense that is eligible for any of these credits is also an eligible expense for the METC. ...

…In the event that, without being equivalent, the hourly rate of a volunteer firefighter is comparable to that of a regular firefighter, we are of the view that the amount paid would not be considered "minimal". As a result, the firefighter in this situation would not be considered to be acting as a volunteer for the purposes of subsection 81(4) and section 118.06. … [A]n individual who is required to work a minimum number of hours in a given period of time, except for a very limited number of hours, is generally not considered to be a volunteer firefighter for the purposes of subsection 81(4) and section 118.06. ...

Management and control of an organization is generally considered to be exercised by the group that performs the functions of a board of directors of the organization. ... Where an organization, which would not otherwise be considered as resident on the reservation, claims that it meets the definition because it holds its board meetings on the reservation, it should generally be considered to meet the definition where the management and control of the organization is legitimately exercised during those meetings. ...

Should weekend days be considered in computing the automobile standby charges; and would travel between home and a place of work in response to an emergency call be considered personal or work-related? ... Thus, weekend days must be considered in calculating the taxable benefit under paragraph 6(1)(e) and subsection 6(2). … [U]se of a motor vehicle [is not] personal use if the employer requires the employee to travel directly from the employee’s home to a place other than the place of business where the employee regularly reports, or to return home from that place. … [T]he borough's public works office is a regular place of employment for the foremen. ...

Under the ITA, the LP would be deemed to be a non-resident person for Part XIII purposes and that fictional person would be related to Canco under s. 251(2), so that the interest would be considered to be ineligible for the domestic exemption for arm’s length interest. ... In this regard, CRA stated that it was in general agreement with a submission that referred to the statement in Folio S1-F5-C1 that “when a partner is not in a position to control a partnership…that…partner is dealing at arm's length with the partnership,” and reasoned that a partner who is considered to be dealing at arm’s length with a partnership should also be considered to be dealing at arm’s length with the corporation controlled by the partnership. ...

27 May 2009 Internal T.I. 2009-0310751I7 F- Usufruit d'un immeuble avant 1991-- summary under Subsection 248(3) Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(3) re a usufruct created prior to 1991, the usufructuary was considered to continue as the beneficial owner In 1985, an individual sold a building to his children on which he had reserved for himself, under the deed of sale, the right of usufruct or right of habitation. Should the individual be considered to have continued to be the property’s owner at the time of his death in 2007 despite the transfer to the children? ... However, as stated in paragraph 3 of the former version of Interpretation Bulletin IT-437 dated September 10, 1979, a person who is usufructuary in respect of real property by virtue of the former version of subsection 248(3), is considered to be the beneficial owner of real property. ...

Before concluding that the Association would likely be considered a trade union, so that annual dues paid to maintain membership in the Association likely would be deductible, CRA stated that under its established position: [A]n association does not have to be certified trade union in order to be considered a trade union for purposes of subparagraph 8(1)(i)(iv)…. Generally, an association whose primary purpose is to collectively negotiate with an employer to further the working conditions of its members is considered to be a trade union for purposes of subparagraph 8(1)(i)(iv). ...