Search - considered

Any dividend paid by the payer corporation is considered to be paid first out of the safe income on hand attributable to the recipient corporation's shares of the payer corporation. ...

We understand that to the best of your knowledge and that of the above-noted taxpayer, none of the issues involved in this advance income tax ruling are: (a) in an earlier return of the taxpayer or a related person; (b) being considered by a tax services office or tax centre in connection with a previously filed tax return of the taxpayer or a related person; (c) under objection by the taxpayer or a related person; (d) before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired; or (e) the subject of a ruling previously issued by the Directorate. ...

To the best of your knowledge and that of the taxpayers involved, none of the issues contained in this ruling request are: (i) dealt with in an earlier tax return of A Co or a related person; (ii) being considered by a tax services office or taxation centre in connection with a previously filed tax return of A Co or a related person; (iii) under objection by A Co or a related person; (iv) the subject of a ruling previously issued by the Income Tax Rulings Directorate to A Co or a related person; nor (v) before the courts, or if a judgment has been issued, the time limit for appeal to a higher court has expired. ...

Paragraph 24 of Information Circular 01-1, Third-Party Civil Penalties, mentions that ""Culpable conduct" must be present in the absence of actual knowledge of a false statement, in order for the third-party civil penalties to be considered"; and that "culpable conduct", as defined in subsection 163.2(1) of the ITA, "refers to conduct (an act or a failure to act) that is tantamount to intentional conduct, shows an indifference as to whether the ITA /ETA is complied with, or shows a wilful, a reckless or a wanton disregard of the law". ...

You have advised that to the best of your knowledge, and that of the responsible officers of each of the taxpayers, none of the issues involved in this Ruling is: (i) in an earlier return of the taxpayers or any related person; (ii) being considered by a tax services office ("TSO") or taxation centre ("TC") in connection with a previously filed tax return by the taxpayers or any related person; (iii) under objection by the taxpayers or any related person; (iv) before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has expired; or (v) the subject of a ruling previously issued by the Income Tax Rulings Directorate to the taxpayers or any related person. ...

To the best of your knowledge and that of the taxpayer involved, none of the issues contained in this ruling request are: (i) dealt with in an earlier return of the taxpayer or a related person; (ii) being considered by a tax services office or taxation centre of the Canada Revenue Agency ("CRA") in connection with a previously filed tax return of the taxpayer or a related person; (iii) under objection by the taxpayer or a related person; (iv) subject to a ruling previously issued by the Income Tax Rulings Directorate to the taxpayer or a related person; nor (v) before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has expired. ...

We understand that to the best of your knowledge and that of the taxpayer involved none of the issues involved in the requested ruling is: (i) dealt with in an earlier return of ACO or a related person; (ii) being considered by any tax services office or taxation centre in connection with a tax return already filed; (iii) under objection by ACO or by a related person; (iv) the subject of a previously issued ruling by the Income Tax Rulings Directorate of the CRA to ACO or a related party; nor (v) before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has expired. ...

In the case at hand, the transactions do not appear to be any more abusive than capital gains crystallization transactions, which are generally not considered to offend tax policy. ...

You have referred to technical interpretation # 2000-0050975, which considered the Part XIII implications arising from certain risk mitigation payments made under a swap agreement. ...

You advise that to the best of your knowledge and that of the taxpayers referred to above, none of the issues involved in the ruling request: i. is in an earlier return of the taxpayers or a related person; ii. is being considered by a tax services office or tax centre in connection with a previously filed tax return of the taxpayers or a related person; iii. is under objection by the taxpayers or a related person; iv. is before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired; or v. is the subject of a ruling previously issued to the taxpayers by the Directorate. ...