Search - considered

In most situations, it is considered very unlikely that the “disaster clause” will apply, especially where there are many primary beneficiaries. ... Assume the loan can be considered debt. (3) The loan above is subsequently repaid in full. ... Since providing that answer, the Tax Court of Canada considered this issue in Hess 2011 TCC 360. ...

(a) [one estate] As a general matter, while an estate is under administration during its first 36 months, will it be considered a graduated rate estate in its entirety? ... A reasonable time will usually not be considered to extend beyond the end of the taxation year following the year in which the debt or obligation became payable by the trust. ... The deadline for the 2014 year was May 1, 2015 and any FI which does not meet those obligations may be subject to penalties and interest, and may be considered non-compliant. ...

Each owner is considered to have ownership proportionate to the fair market value of each distinct equity interest. ... 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. ...

The Supreme Court of Canada considered the concept of profit in Canderel Ltd. v. ... Since expenses cannot be considered to be incurred by an individual who is not thereby obligated to pay a sum of money, the CRA is of the view that expenses paid are not necessarily expenses incurred by a taxpayer. ... For an expense to be considered to have been incurred for the purposes of paragraph 18(1)(a), it is not necessary that the expense be paid by the person incurring the expense. ...

This is because the non-resident third-party vendor is generally not considered to be carrying on business in Canada and the distribution platform operator is not considered to be the supplier of the goods. ... If a registrant changes the use of capital property in its commercial activities by 10% or more in a period, the change is considered significant and the change-in-use rule in subsection 206(2), 206(3) or 206(5), as applicable, comes into play. In determining whether a change in the use of capital property in business activities is significant, the cumulative effect of the changes should be considered. ...

Where penalties usually arise is from a failure to comply with subparagraphs (iv)-(vi)- i.e. the documentation is not complete and accurate regarding: (iv) the functions performed, the property used or contributed and the risks assumed, in respect of the transaction, by the participants in the transaction, (v) the data and methods considered and the analysis performed to determine the transfer prices or the allocations of profits or losses or contributions to costs, as the case may be, in respect of the transaction, and (vi) the assumptions, strategies and policies, if any, that influenced the determination of the transfer prices or the allocations of profits or losses or contributions to costs, as the case may be, in respect of the transaction;.... ...

CEWS and TPM-17 Rheault: Has CRA considered its position in IFA 2020 Q.5, in light of the OECD’s differing views? ... Therefore, that wording is usually used in situations where we were seriously considering whether a s. 247(3) penalty would apply, but considered that the information before the Committee was insufficient. That is not to say that the penalty would not be considered in the future in a similar situation. ...

The automatic cash sweeps that occur as part of a physical cash-pooling arrangement would likely be considered to form part of such a series, which would make s. 15(2.6) unavailable. ... Anticipated frequent and ongoing movements in the account balances of participants to a notional cash-pooling arrangement would likely be considered to form part of a series of loans, repayments, and other transactions. ... Would CCA under the Act be considered to have been claimed for taxation years that ended before US LLC became a foreign affiliate of Canco? ...

Another interpretive issue is whether Subco can be considered to be "formed” on the merger or combination for the purposes of s. 40(3.5)(c)(i). ... This is slightly fewer cases than in prior years, but still considered to be within norms. ... As a result, It is our view that foreign exchange gains or losses in respect of a debt obligation are considered to realized or sustained only on the settlement or extinguishment of the debt. ...

The main question here is whether a payment pursuant to representations and warranties in an M&A type of transaction can be considered as payment for the settlement of such indemnities, or as proceeds of disposition of shares being disposed of in such a transaction. ... In our view, when looking at s. 84(3), the amount considered to be paid for the repurchase shares under s. 84(3) should be equal to the amount of the settlement of the indemnity claim. ... However, since then, there has been additional information to be considered. ...