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Criteria for accepting an ACAP request An ACAP request generally will be considered for acceptance if all of the following criteria are met: an ACAP request is made at the same time as the related MAP request; the issues in the ACAP request are the same as those in the MAP request; years subsequent to those included in the MAP request and for which the taxpayer has requested ACAP consideration have been filed and initially assessed; after consultation between the appropriate tax services office (TSO) and the Competent Authority Services Division, the CRA is satisfied that the facts and circumstances have remained unchanged between the MAP and ACAP taxation years; the other Competent Authority agrees to include the ACAP period with the related MAP request; and there are no issues involving unusual situations or transactions that would render the application of an ACAP impractical. ...

The CRA had previously held that lump sum amounts received by retirees or employees upon cancellation of their private health services plans could be considered advance reimbursements of medical expenses and therefore not taxable when received. ...

The time limit for claiming ITCs is reduced to two years for: listed financial institutions (other than a corporation that is considered to be a financial institution because it has an election in effect to have certain supplies deemed to be exempt financial services); and persons with annual revenues from taxable supplies of goods and services of more than $6 million for each of the two preceding fiscal years. ...

Vehicle definition chart Type of vehicle Seating (includes driver) Business use in year bought or leased Vehicle definition Coupe, sedan, station wagon, sports car, or luxury car 1 to 9 1% to 100% passenger Pick-up truck used to transport goods or equipment 1 to 3 more than 50% motor Pick-up truck (other than above) 1 1 to 3 1% to 100% passenger Pick-up truck with extended cab used to transport goods, equipment, or passengers 4 to 9 90% or more motor Pick-up truck with extended cab (other than above) 1 4 to 9 1% to 100% passenger Sport utility used to transport goods, equipment, or passengers 4 to 9 90% or more motor Sport utility (other than above) 4 to 9 1% to 100% passenger Van or minivan used to transport goods or equipment 1 to 3 more than 50% motor Van or minivan (other than above) 1 to 3 1% to 100% passenger Van or minivan used to transport goods, equipment, or passengers 4 to 9 90% or more motor Van or minivan (other than above) 4 to 9 1% to 100% passenger 1- A vehicle in this category that is used more than 50% to transport goods, equipment, or passengers while earning or producing income at a remote work location or at a special work site that is at least 30 kilometres from the nearest community with a population of 40,000 is considered a motor vehicle. ...

As a transitional provision, the RC312 is considered to be filed on time if it is filed 120 days after the day on which the reportable transaction changes receive Royal Assent. ...

Refer to Foreign Income Verification Statement for further information on the T1135 and what is considered specified foreign property. ...

Budget 2015 also introduces amendments to the trust rules to require a trust to determine and designate the amount that is considered to be a beneficiary’s taxable capital gain from a disposition after April 20, 2015, of the beneficiary’s QFFP. ...

Refer to the Foreign Income Verification Statement for more information on Form T1135 and what is considered specified foreign property. 2. ...

The amendments proposed in the budget bill have to be debated and approved by the Canadian House of Commons and considered and approved by the Senate of Canada. ...

In March 2014, he donated the sculpture that he considered to have a FMV of $10,000, which was subsequently confirmed by the CCPERB. ...