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.- Q.35-- summary under Subsection 85(1.1) Summary Under Tax Topics- Income Tax Act- Section 85- Subsection 85(1.1) real estate partnership interest Because an interest in a partnership is not considered to be an interest in its underlying assets, a capital interest in a real estate partnership held by a non-resident will qualify as eligible property, although s. 245 could apply where a partnership formed as part of a series of transactions which are designed to circumvent s. 85(1.1). ...

22 November 1991 Memorandum (Tax Window, No. 13, p. 9, ¶1608)-- summary under Subsection 5907(1.1) Summary Under Tax Topics- Income Tax Regulations- Regulation 5907- Subsection 5907(1.1) Provided that the primary and secondary affiliates are going concerns and the intercompany account has been charged with a number of offsetting items, the secondary affiliate will be considered to have paid the primary affiliate for the taxes where their amount has been booked to the intercompany account. ...

.- Q.48-- summary under Paragraph 6(1)(e) Summary Under Tax Topics- Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(e) An automobile will be considered to be available to the employee where: the employee is absent from the country on business and leaves the automobile at the airport parking lot; he is on holiday and leaves the automobile parked on the employer's premises; the automobile is being repaired at a garage; and he is ill or disabled. ...

7 April 1993 Memorandum (Tax Window, No. 31, p. 6, ¶2513)-- summary under Subparagraph 20(1)(p)(ii) Summary Under Tax Topics- Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(p)- Subparagraph 20(1)(p)(ii) A standard distress preferred share ruling is that provided the debt arose from one or more loans made by the specified financial institution in the course of its money-lending business, the debt reacquired by the institution will be considered to have been acquired by it in the ordinary course of its business of lending money for the purposes of ss.20(1)(l) and (p). ...

14 July 1989 Inter-Divisional Memorandum (Dec. 89 Access Letter, ¶1054)-- summary under Subsection 110.7(1) Summary Under Tax Topics- Income Tax Act- 101-110- Section 110.7- Subsection 110.7(1) Even though an individual may be physically absent from the prescribed area while on overseas assignment, he should still be considered as a resident of the prescribed area if that remains the centre of his vital interests, in which case if he claims the overseas employment tax credit, he may also be entitled to the northern resident deduction. ...

"Part I.3, Advances")-- summary under Subsection 181.2(3) Summary Under Tax Topics- Income Tax Act- Section 181.2- Subsection 181.2(3) An advance billing, that remains unpaid at a year end, made with respect to services to be rendered in a subsequent year, would not be considered to be an "advance" (as defined, for example, in Black's Law Dictionary, and in TransCanada Pipelines Ltd. v. ...

10 January 1992 CGA Roundtable, Q. 19, 7-912224-- summary under Paragraph 69(1)(a) Summary Under Tax Topics- Income Tax Act- Section 69- Subsection 69(1)- Paragraph 69(1)(a) FMV of debt rather than amount owing Where shares are issued by a corporation on the conversion of debt owed by the corporation to a non-arm's length shareholder, the value of the debt rather than its principal amount must be considered as the amount paid to acquire the shares when determining whether the cost of the shares is limited by s. 69(1)(a). ...

.- Q.24-- summary under Subsection 81(2) Summary Under Tax Topics- Income Tax Act- Section 81- Subsection 81(2) Any allowances received by a member of a legislative assembly (or by an municipal officer) that reimburse her for expenses considered to be personal in nature will be required to be included in her income. ...

IT-338R "Partnership Interests- Effects on Adjusted Cost Base Resulting from the Admission or Retirement of a Partner"-- summary under Subparagraph 53(1)(e)(iv) Summary Under Tax Topics- Income Tax Act- Section 53- Subsection 53(1)- Paragraph 53(1)(e)- Subparagraph 53(1)(e)(iv) Where on a dissolution of a partnership to which s. 98(5) applies the continuing partner has assumed the liabilities of the partnership, that partner is considered to have made a contribution of capital to the partnership, with the result that the ACB of his interest would be increased pursuant to s. 53(1)(e)(iv). ...

The contribution of capital to the partnership in consideration for a partnership interest would not be considered to have been done in the course of the partnership's activities. ...