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In most cases, if you filed Form T664 or T664 (Seniors), you are considered to have sold your capital property at the end of February 22, 1994, and to have immediately reacquired it on February 23, 1994. ...

Foreign currencies Foreign exchange gains or losses from capital transactions of foreign currencies (that is money) are considered to be capital gains or losses. ...

Deemed dividends What amounts are considered deemed dividends and how do you calculate them. ...

Since March 30, 2024 falls on a Saturday, a T3 return will be considered filed on time if the CRA receives it, or it is postmarked, on or before April 2, 2024 (the next business day). ...

Similarly, a notice in an annual or quarterly report that an eligible dividend has been paid is considered valid for that year or quarter, respectively. ...

Find out how you should track and report all your tips and gratuities In Canada, the amount you earn in tips and gratuities is considered to be income, and you must report all of it on your tax return. ...

Only debts that are certain of being uncollectible are to be considered bad debts. ...

As a general rule, a taxpayer who takes commodity futures positions in, or who has transactions in, a commodity connected with a business, is considered to be trading as part of the business operations and the comments in 3 above apply. ... As an example, a jeweller who buys 100 ounces of gold for a business (a normal amount for that business) and also makes additional purchases of 1600 ounces of gold, or of futures contracts representing 1600 ounces of gold, as a speculation for his or her own account, may be viewed as a speculator with respect to the additional purchases when all the facts of the situation are considered. ... However, the comments in 4 above must be applied in respect of each member of the partnership and if one member can be considered an insider then the income treatment is required for the partnership. 18. ...

Part 1 – Aggregate investment income calculation The aggregate investment income is the aggregate world source income calculated as follows: add the eligible portion of the taxable capital gains for the year that is more than the total of: the eligible portion of allowable capital losses for the year; and the net capital losses from previous years which are applied in the year; total income from property (including income from a specified investment business carried on in Canada other than income from a source outside Canada) from which the following amounts have been deducted: exempt income; AgriInvest receipts (include the Quebec amount); taxable dividends deductible after deducting related expenses; and business income from an interest in a trust that is considered property income under paragraph 108(5)(a); deduct total losses for the year from property (including losses from a specified investment business carried on in Canada other than losses from a source outside Canada). ... Part 2 – Foreign investment income calculation The foreign investment income is all income from only sources outside of Canada calculated as follows: add the eligible portion of the taxable capital gains for the year that is more than the eligible portion of allowable capital losses for the year; and the total income from property from a source outside Canada from which the following amounts have been deducted: exempt income; taxable dividends deductible after deducting related expenses; and business income from an interest in a trust that is considered property income under paragraph 108(5)(a); deduct the total losses for the year from property from a source outside Canada. ... To claim a dividend refund, you have to have made an actual payment to the shareholders, unless the dividend is considered paid (a deemed dividend). ...

The following is a common scenario: A Canadian resident corporation (CanCo) provides products or services to a non-arm's length non-resident corporation (ForCo); CanCo is considered the tested party [3] and the transfer price for this transaction is tested using a cost-based method; [4] CanCo receives financial assistance from one or more government agencies or programs; In calculating the cost base for transfer pricing purposes, CanCo reduces the cost base by an amount equal to the government assistance received. ... The following are some of the items that may be considered: identification of all characteristics that are relevant to the market or industry; the accounting treatment of the government assistance in both the tested party and any comparable identified, for example, whether the government assistance is deducted from the costs or it is presented separately, [5] since not considering differences such as the accounting treatment can affect profit level indicators; whether and to what extent the government assistance is passed on to arm's length customers or suppliers in that particular market or industry; when the government assistance is not fully passed on to arm's length customers or suppliers, the manner in which arm's length enterprises operating under similar circumstances would allocate such benefits between them through further enquiry; any other relevant information. ... For example, when the government assistance can be considered as highly integrated to the operations and significantly affects the economically relevant market conditions, a transactional profit split method may be the most appropriate transfer pricing method. ...