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B considered to have received a designated benefit by virtue of her being alive at the time of the formation of the estate on the death of Mr A? ... CRA considered that the addition to the capital dividend account (CDA) of each of Corporation B and Corporation C was $300,000 (=$500,000-$200,000), not $400,000. ... If the receivable is not a capital property, any gain attributable to a fluctuation in the value of the currency would be considered to be income from a business or property, and any loss sustained would be considered as a loss from a business or property. ...

The Technical Explanation indicates that the U.S. resident is considered to derive the Canadian-source dividends for purposes of the Canada-U.S. Treaty and thus, the dividends are considered as being “paid to” the U.S. resident. ... LLC is not considered for purposes of the application of the Treaty to be a “resident” of the U.S. ...

The potential application of subsection 261(18) of the Act could be considered based on the facts and circumstances of the asset transfers. ... Where more time is required for issues to be considered due to challenges arising from COVID-19, taxpayers are invited to provide waivers as needed. ... If so, assuming that one or more of the steps that are part of the series of transactions is an avoidance transaction, would the CRA be of the view that they would reasonably be considered to result in a misuse or abuse of the provisions of the Act such that subsection 245(2) would be applicable? ...

In other words, economic reality was considered to be quite important. ... The question certainly is not “is the legal form of the transaction tracking what it should be considered economically” – we’re not upending the Canadian tradition of focusing on legal form. ... The disclosure exemption is considered quite important. Coming Into Force Date Q: Does Finance have any information about the coming-into-force date of the GAAR amendments? ...

Subsection 91(4.1) is the main operative rule and is triggered where at any time in the taxation year of a foreign affiliate, a person or partnership referred to in the FTCG rules as a “specified owner” in respect of the taxpayer, is considered under the relevant foreign tax law to own less than all of the shares of a particular corporation – that is a “pertinent person or partnership” in respect the affiliate – that are considered to be owned by the specified owner for the purposes of the Act (the “Lesser Ownership Test”). ... In cases where administrative relief has been provided, the apparent intent was to reduce what would otherwise be considered an undue compliance burden for the reporting entity. ... The situation considered involved the second and the third affiliates being fiscally transparent under the tax law of a foreign jurisdiction and the second affiliate incurring interest and other expenses, which reduced the income ultimately included in the income of the indirect member or shareholder of the third affiliate. ...

CRA written response The CRA is of the view that a building is normally considered to be a single property unless it was legally subdivided into two or more separate properties. ... In the situation you described, the CRA is of the view that the sum of $50,000 that the vendor received could be considered as proceeds of disposition of his right under the promise. ... To determine whether or not the rights in a lease are an asset used principally in an active business carried on by the corporation, the use of the property which is the subject of the lease must be considered. ...

As indicated in paragraph 12 of Interpretation Bulletin IT-456R, [FN13: CANADA REVENUE AGENCY, Interpretation Bulletin IT-456R (archived), "Capital Property- Some Adjustments to Cost Base," July 9, 1990.] the CRA allows the actual loss on the properties considered to be redeemed or the average loss on each property multiplied by the number of properties considered to be reacquired to be the superficial loss in this case. ... (c) Is the GRE considered to have made the gift at the time of the CRT’s creation or when the capital interest in the CRT is actually delivered to the qualified donee? ... The eligible amount of a gift of a capital interest in a CRT could therefore be considered a charitable gift of the deceased individual (and not of the individual’s estate) for the purposes of subsection 118.1(3). ...

Outside of financial hardship, can the CRA provide any examples of a taxpayer who has not exercised due diligence, but who would be considered eligible for penalty relief? ... The reasonability of allowances in excess of prescribed amounts can be considered in some circumstances. ... CRA Response (a) Please note that this is not being considered. This type of information is available only to the legal rep or the taxpayer. ...

That document needs to be in the record so that we all know precisely what is being considered. ...

Under the existing rules, the upstream loan would not be considered to be repaid for the purpose of subsection 90(14). ... Our preference is to be able to do a considered, full analysis in this kind of situation rather than responding incrementally. ... I think you will find that each of Luxco and UKCo, as the intended borrowers, would be considered to have received a loan from Canco of $50, which gives the result there is a deemed shareholder loan of $100, yet Canco only put $50 into the pool. ...