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In this example, the advance is not considered a taxable benefit because: the rate per kilometre is considered reasonable the employee has to account for their expenses by producing vouchers and must return any amount they did not spend The employee cannot claim the expenses on their income tax return. ...

In circumstances where gas storage facilities are being provided by a registered resident in Canada as part of a storage agreement, the storage is considered a supply of a storage service, not a supply of real property. It is not considered to be a supply of real property because access to certain storage facilities is not specifically provided to the user and/or a "lease" agreement or "licence" to use is not evident. ...

What the "Archived Content" notice means for interpretation bulletins IT INCOME TAX ACT Stock Splits and Consolidations IT-65 September 8, 1972 Where all the shares of a class of stock of a corporation are replaced by a greater or lesser number of shares of the same class of stock of the same corporation in the same proportion for all shareholders, in circumstances where there is no change in the total capital represented by the issue, there is no change in the interest, rights or privileges of the shareholders and there are no concurrent changes in the capital structure of the corporation or the rights and privileges of other shareholders, no disposition or acquisition is considered to have occurred. ... For example, if the taxpayer owned shares of X Corporation which he acquired before 1972 at a cost of $25 each and the value on valuation day was $40 each, then subsequently these were split 5 for 1, each new share will be considered to have a cost of $5 and a V-Day value of $8. ...

For television productions, each episode in a series is considered to be a separate production. ... What is a complete claim Your claim is considered complete if Form T1131 and your CAVCO certificate are attached to your corporation’s T2 return. ...

For television productions, each episode in a series is considered to be a separate production. ... What is a complete claim Your claim is considered complete if Form T1177 and your CAVCO certificate are attached to your corporation's T2 return. ...

Generally, a tax shelter is: a gifting arrangement described under paragraph (b) of gift arrangements a gifting arrangement described under paragraph (a) of gift arrangements or an investment in property (other than prescribed property or flow-through shares) where it is reasonable to consider, based on statements or representations made or proposed to be made in connection with the gifting arrangement or the property, that within the first four years of buying an investment in the property or entering into the gifting arrangement, the buyer or donor will have losses, deductions, or credits equal to or greater than the Net cost of the original investment or of the property acquired under the gifting arrangement Gift arrangements gifting arrangement means any arrangement under which it may reasonably be considered, having regard to statements or representations made or proposed to be made in connection with the arrangement, that if a person were to enter into the arrangement, the person would (a) make a gift to a qualified donee, or a contribution referred to in subsection 127(4.1), of property acquired by the person under the arrangement; or (b) incur a limited-recourse debt, determined under subsection 143.2(6.1), that can reasonably be considered to relate to a gift to a qualified donee or a monetary contribution referred to in subsection 127(4.1) Net cost "Net cost" is net of any prescribed benefits expected to be received or enjoyed, directly or indirectly, by the person or another person with whom the person does not deal at arm’s length. ...

June 30 Filing due date for a section 217 return April 30 Payment due date for a balance owing When a due date falls on a Saturday, Sunday or public holiday recognized by the CRA, your return is considered on time if the CRA receives it, or if it is postmarked, on or before the next business day. Your payment is considered on time if it is received on the first business day after the due date. ...

Principal residence and other real estate When you sell your home or when you are considered to have sold it, you may realize a capital gain. ... If you sold or if you were considered to have sold property in 2024 that was, at any time, your principal residence, you must report the sale on Schedule 3, Capital Gains or Losses, and Form T2091(IND), Designation of a Property as a Principal Residence by an Individual (Other Than a Personal Trust). ...

The following rules also apply when property is repossessed under a conditional sales agreement: If, as a mortgagee (person who lends money under a mortgage), you repossess a property because the mortgagor failed to pay you the money owed under the mortgage, you are considered to have purchased the property. ... If you are the mortgagor and your property is repossessed because you did not pay the money owed under the mortgage, you are considered to have sold the property. ...

To calculate this gain or loss, follow these rules: If the adjusted cost base (ACB) of the property is less than $1,000, its ACB is considered to be $1,000. If the proceeds of disposition are less than $1,000, the proceeds of disposition are considered to be $1,000. ...