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Whether dealing in commodity futures contracts by a mutual fund trust would be considered "the investing of funds of the trust" for purposes of paragraph 132(6)(b) of the Income Tax Act (the "Act"). 2. Whether commodity futures contracts are considered investments that are "marketable securities" for purposes of paragraph 5000(7)(b) of the Income Tax Regulations (the "Regulations") and whether income earned on the settlement of a futures contract is considered to be "derived from" the futures contract. We are of the view that a mutual fund trust dealing in commodity futures contracts would be considered to be investing funds of the trust for the purposes of paragraph 132(6)(b) of the Act. ...

Accordingly, the ordinary definition of farming is somewhat fluid and the particular activities undertaken by a taxpayer would have to be considered on a case-by-case basis. ... " Notwithstanding the above, where a taxpayer's activities primarily involve the cultivation, raising, or breeding of animals (husbandry) for use as a food source (even from non-traditional food or novel sources), such activities would generally be considered as farming, even though the animals would not be considered as livestock. ... However, the raising or breeding of rodents or other animals to be sold for use as pets would not be considered as farming. ...

Based on this definition, the right to purchase an apartment should be considered an option for purposes of the Act. ... Therefore, the right to purchase in the present case should be considered an option in respect of the apartment unit. ... Based on above, the right to purchase the apartment unit would be considered a taxable Canadian property. ...

Deemed Resident Trust and CCPC Status A trust which meets the conditions of section 94 is considered resident for certain purposes of the Income Tax Act (the “Act”). ... Since subsection 94(3) does not state that a deemed resident trust is considered resident for purposes of determining control, we would imagine that the corporation would not be considered Canadian controlled. ... Therefore, we can confirm that Opco will not be considered a CCPC as a result of the fact that Trust is deemed resident in Canada by virtue of section 94. 2016-063491 Katie Campbell ...

Reasons: Costs to make instructor available at overseas site are considered integral to the course and therefore a basic cost of instruction. ... In your email, you have concluded that most of the Program Fee would likely not be considered eligible tuition fees. ... Generally, these fees are considered eligible fees as they relate to the process of instruction whereas the fees described in paragraph 27 of IT-516R2 relate to fees paid for some other goods or services provided by the educational institution and are therefore, not considered eligible tuition fees for purposes of the Tuition Tax Credit under section 118.5. ...

23 June 2005 External T.I. 2005-0127911E5- residence of a trust Unedited CRA Tags 104 Principal Issues: Will Canada recognize a trust as a resident of the US if it is considered resident in the US for US tax purposes? ... copies of the Canadian and U.S. income tax returns filed by the Trust for the period in which the Trust is considered resident in both countries;? ... However, irrespective of whether the Trust is considered resident in Canada or the U.S. for the purposes of the Canada-U.S. ...

You describe two situations and request our views on whether the operations would be considered to be “farming”. ... The cultivation of crops in water and hydroponics are also considered farming activities. ... However, a taxpayer engaged in the business of logging would not be considered to be a farmer. ...

Principal Issues: Whether or not an entity formed under the Michigan Limited Liability Company Act is considered a corporation for purposes of the Income Tax Act. ... In accordance with Interpretation Bulletin IT-392, the Michigan LLC is considered to have a capital stock consisting of 100 issued shares and each owner of a beneficial interest in the LLC is then considered to own a number of shares proportionate to his beneficial interest in the LLC. ... On the other hand, where the mind and management of the LLC is situated in the U.S., resulting in the LLC not being considered a resident of Canada for purposes of the Act, it will not be considered as being a resident of either Contracting State for purposes of the Convention, if it is treated as a partnership for purposes of the Code. ...

It must be determined whether the amount received by the taxpayer is considered on account of income or capital. ... Where the amount relates to a particular asset that is sold, destroyed or abandoned as a consequence of the non-performance, that amount will be considered proceeds of disposition for purposes of determining the gain on the asset. ... It will always be a question of fact whether the amount received by a taxpayer is considered on account of income or capital. ...

It must be determined whether the amount received by the taxpayer is considered on account of income or capital. ... Where the amount relates to a particular asset that is sold, destroyed or abandoned as a consequence of the non-performance, that amount will be considered proceeds of disposition for purposes of determining the gain on the asset. ... It will always be a question of fact whether the amount received by a taxpayer is considered on account of income or capital. ...