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If we apply the methodology provided by the FCA, it would appear that an issuer of debentures could be considered to have realized a loss. ... Thus taxpayers should be assured that when the application of the GAAR is considered, all their arguments will have received careful consideration. ... In such cases distributions to residual beneficiaries could not be considered to be income payable to a beneficiary for purposes of subsections 104(6) and 104(13). ...

Depending on the circumstances, various correspondence or other written documents could be considered together to constitute the offer made to the heir or the legatee and his or her acceptance in connection with the acquisition and thus be considered together as an agreement in writing for purposes of the HBC. ... In that context, the CRA generally agrees that such a statement may be considered an agreement in writing for the purposes of the HBP. ... Y on June 15, 2019 cannot be considered an excluded contribution if Ms. ...

In the above scenario, what parties would be considered NR1 and NR2, respectively, and what are their reporting obligations under subsection 237.4(4)? ... The conditions of NT 2023-05 are not considered to be met where NR2 does not receive any interest-bearing debt financing. ... The type of property in question and the nature of the taxation of the property must also be considered. ...

Although the GAAR Committee considered that the Transactions circumvented the integration principle, it recommended that the GAAR not be applied. ... Where dividends are paid on participating or non-participating discretionary shares that have an accrued gain, the dividends could be considered to be safe income dividends to the extent of the safe income that could reasonably be considered to contribute to the capital gain on such shares. ... Hence, one cannot presume that the scheme of the Act is to exempt all payments made between corporations that could be considered to be a dividend under corporate law. ...

On CRA’s webpage “ Guidance on the application of split income rules for adults,” we state: “In determining whether the payment is a Reasonable Return, the Agency does not intend to generally substitute its judgment of what would be considered a reasonable amount unless there has not been a good faith attempt to determine a reasonable amount based on the Reasonableness Criteria.” ... Our instructions for auditors will then be that they must verify that none of those factors apply before the amount can be considered as subject to TOSI. ... Q.2- Instructions to auditors 2018-0771851E5 states that “CRA does not intend to generally substitute its judgment of what would be considered a reasonable amount where the taxpayers have made a good faith attempt to do so....” ...

Therefore, Father will be considered to have made a “contribution” to the Trust and will bea “contributor” and a “resident contributor” to the Trust. ... The proceeds received in respect of the disposition of a property of a trust would be considered substituted property. ... It is important to note that when an amount of income has become payable to a beneficiary, subsection 104(24) of the Act must be considered. ...

The tracking interest rules in subsections 95(8) to (12) enacted by Bill C-86 now must be considered if a Canadian investor owns 10% of a class or series of shares of the umbrella corporation. ... The comfort letter provides an exception from the tracking interest rules if it cannot reasonably be considered that one of the purposes for the creation or issuance of a tracking interest in an umbrella corporation or for the acquisition of the interest by a taxpayer is to avoid the corporation being a CFA for the year. ...

CRA Response The question of the creation date of a testamentary trust has been considered in past STEP Roundtables. ... X would be considered to have been made at a time other than a non-resident time of Mr. ... Consequently, the contribution would not be considered to have been made at a non-resident time of Mr. ...

On the short sale, it is the borrowed securities that the short seller is considered to have disposed of. ... Both dispositions must therefore be considered. Generally, as stated in paragraph 18 of Interpretation Bulletin IT-479R, gains or losses on short sales of securities are considered to be on income account. ... Generally, a right to receive an amount may be considered to be a right or thing of an individual within the meaning of subsection 70(2). ...

., in a M&A type of transaction can be considered as payment for the settlement of such indemnities or proceeds of disposition of shares being disposed of in such transaction. ... Therefore, the amount considered to be paid for the repurchased shares under subsection 84(3) should be equal to the amount of settlement for the indemnity claim. ... In that particular case, the corporation was considered to be a resident of Singapore for the purposes of the Canada-Singapore Tax Treaty, provided that its central management and control was at all relevant times exercised in that jurisdiction. ...