Search - considered

Generally, a person is considered to be a Connected person if the person: owns, directly or indirectly, at least 10 per cent of the issued shares of any class of the capital stock of the employer or of a corporation related to the employer; does not deal at arm's length with the employer; or is a specified shareholder of the employer by virtue of paragraph (d) of the definition "specified shareholder" in subsection 248(1) of the Income Tax Act (the Act). [8500(3)] Defined benefit limit For years before 1995, the defined benefit limit is $1,722.22. ...

Subsection 104(19) permits such a designation by a trust that was resident in Canada throughout a taxation year to the extent that the taxable dividends received by it in the year may reasonably be considered under the circumstances (including terms and conditions of the trust arrangement) to have been included in the income of a beneficiary for the year. ...

Following an initial investigation, the Department will inform, in writing, directors who may be liable that an assessment under section 227.1 of the ITA or section 323 of the ETA, or both, is being considered. 20. ...

Since a partnership is considered to be a separate person, it may be required to register for and collect GST/HST if it provide taxable supplies in Canada. ...

Valuation for derivatives – A derivative that provides rights to a corporation and is held on income account is considered to be inventory property, and the corporation could therefore choose to value it at the lower of its cost and its fair market value at the end of the year (inventory valuation rules). ...

Under the Regulation 105 BTS Waiver Guidelines, it could be determined that: the applicant's stay in Canada is less than 180 days under the current contract; and the services are not considered repetitive. ...

The FNGST applies to the lease payments because the student is considered to ordinarily be residing on the land of a First Nation where the FNGST applies. ...

Allowances or reimbursement of expenses to an employee or partner For allowances or reimbursement of expenses to an employee or partner, your books and records have to show: the name and BN of the employer or partnership that paid the allowance or reimbursement the name of the employee or member of the partnership who has received the allowance or reimbursement the total amount of the allowance or reimbursement received by each employee or member of the partnership the total GST/HST considered to have been paid for the allowance or reimbursement the reporting period in which the allowance or reimbursement was paid the type of the supply/expense Computerized books and records Computerized books and records have to indicate: the name or trading name and address of the supplier or that of the supplier's authorized agent or representative the supplier's business registration number (BN) the date the GST/HST was paid or became payable and the amount of GST/HST paid or payable the type of the supply the name or trading name and address of the recipient of the supply or that of the recipient's authorized agent or representative Contractual agreements For contractual agreements, the books and records and related documents have to show: the name or trading name and address of the supplier or that of the supplier's authorized agent or representative the supplier's BN the reporting period when the GST/HST was paid or became payable and the amount of GST/HST paid or payable the type of the supply the name or trading name and address of the recipient of the supply or that of the recipient's authorized agent or representative Unvouchered cash payments to coin and dollar bill operated machines For unvouchered cash payments to coin and dollar bill operated machines, your books and records have to show: the location where the taxable supply was made the reporting period when the GST/HST was paid or became payable the amount paid for the supply the amount of GST/HST paid or payable the type and quantity of the supply Procurement cards For procurement cards, under certain conditions the CRA will consider the following minimum information to constitute satisfactory supporting documentation at the time of claiming ITCs: date of transaction merchant name place of supply (City and/or Province) merchant category transaction amount cardholder (employee) name procurement card number For more information, see Procurement cards- Documentary Requirements for Claiming Input Tax Credits. ...

How to calculate ITCs for allowances You need to calculate the amount of GST or HST that you are considered to have paid on a reasonable allowance. ...

When is a trust that was previously considered a qualified disability trust subject to the new recovery tax? ...