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Capital gains reduction (flow-through entity) A partnership is considered a flow-through entity. ...

Because the cost of the boat is less than $1,000, the ACB is considered to be $1,000. ...

If an electronic filer chooses to retain scanned versions of these forms, they must adhere to the requirements of Section 230 of the Income Tax Act by ensuring a minimum level of resolution in an electronically readable format, as the scanned version is considered a "record". ...

You may also have such a loss if you are deemed to have disposed of, for nil proceeds of disposition, a debt or a share of a small business corporation under any of the following circumstances: A small business corporation owes you a debt (other than a debt from the sale of personal-use property) that is considered to be a bad debt at the end of the year At the end of the year, you own a share (other than a share you received as consideration from the sale of personal-use property) of a small business corporation that: has gone bankrupt in the year is insolvent, and a winding-up order has been made in the year under the Winding-up Act is insolvent at the end of the year and neither the corporation, nor a corporation it controls, carries on business. ...

Note These changes do not affect the salary of an employee working in Quebec or an employee who is considered to be disabled under the CPP or QPP, nor do they affect the salary and wages of a person who has reached 70 years of age. ...

A claim is considered to be complete when all of the above documentation is filed with the CRA. ...

You are not considered to have paid your own motor vehicle expenses if your employer reimburses you or you refuse a reimbursement or reasonable allowance from your employer. ...

Also, you cannot deduct the cost of any tools that are considered to be equipment. ...

Generally, all driving by a shareholder who is not an employee of the company is considered personal unless it can be substantiated as being for business purposes. ...

Special rules may also apply if you dispose of, or are considered to have disposed of, a property that was your principal residence for 1994 and for which you or your spouse or common-law partner has filed Form T664 or T664 (Seniors), Election to Report a Capital Gain on Property Owned at the End of February 22, 1994. ...