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Will Canco or the lender be considered to have received a taxable benefit from the parent? ... DEPARTMENT'S POSITION Neither Canco nor the lender would be considered to have received a benefit from the parent. ... However, if Canco's borrowing of funds or the giving of a guarantee by the parent can be considered part of a series of transactions, which series, would result in a tax benefit and may reasonably be considered to have been undertaken or arranged primarily to obtain the tax benefit, the transaction may nevertheless be subject to subsection 245(2) of the Act. ...

Reasons: A mineral right is generally considered an intangible property. ... Finally, we opined that a mineral right of a reporting entity would be considered a tangible property and therefore, a specified foreign property pursuant to paragraph (b) of that defined term in subsection 233.3(1) of the Act. ... In addition, we wish to clarify that a mineral right would likely be considered an intangible property. ...

The investment activities are such that, either under ordinary income tax principles or pursuant to section 253 of the Act, the insurer would be considered to be carrying on business in Canada. ... The business the insurer is carrying on (or deemed to be carrying on) would not be considered an insurance business carried on in Canada by the insurer for purposes of the Act. ... It does not carry on any activities that in Canada would result in it being considered to carry on an insurance business for purposes of the Insurance Companies Act (Canada) or similar provincial legislation. ...

Position: No Reasons: Where contract is entered into by annuitant for services to be provided to annuitant then considered expenses of annuitant not RRSP or RRIF trust. 963958 XXXXXXXXXX M.P. ... If this is the case, then the fees pertaining to the investment strategies relating to the self-directed RRSP or RRIF could not be considered premiums or gifts contributed to the particular plan or fund. The determination of whether investment counsel fees or a portion thereof would be considered expenses of a RRSP or RRIF trust is a question of fact that can only be determined after a review of all of the facts pertaining to each particular situation. ...

Our Comments Subsection 252(4) of the Act is used to determine whether a couple living together in a common-law relationship are considered as spouses in respect of each other and when that spousal relationship is considered to begin or end. ... At any particular time prior to these two criteria being met both the individual and the taxpayer would be considered unmarried (or single) with respect to that relationship. ... Consequently, to specifically answer your questions; in the first situation, the marital status of the couple will not be considered to have changed until the date of birth of their child in common, and in the second situation, the marital status of the couple will not be considered to have changed until June 1, 1993. ...

In accordance with Interpretation Bulletin IT-392, a Kentucky LLC is considered to have capital stock consisting of 100 issued shares and each owner of a beneficial interest in the Kentucky LLC is then considered to own a number of shares proportionate to his beneficial interest in the Kentucky LLC. Each amount distributed on account of profits by the Kentucky LLC to its owners will be considered dividends for the purpose of the Act and the Regulations made thereunder. Where the mind and management of the Kentucky LLC is situated in the U.S., the Kentucky LLC will be considered resident in the United States for purposes of the Act. ...

Principal Issues: Will bank guarantee fees paid by a corporation to its owner/manager be considered earned income within the meaning assigned by subsection 146(1) of the Act? ... Therefore, guarantee fees would not be considered income from an office or employment for purposes of the definition of earned income. ... Consequently, guarantee fees would not be considered earned income within the meaning assigned by subsection 146(1) of the Act. ...

Principal Issues: Whether interest on an obligation is considered to be paid when a new obligation is issued which principal amount inludes accrued interest on the original obligation Position: no Reasons: The new note is issued precisely because the interest has not been paid. ... Basically, your query concerns whether the accrual of the interest together with the execution of a new note should be considered a payment of that accrued interest. If it can be considered to be a payment of the accrued interest, then the withholding tax should be paid at the time If it cannot be considered to have been paid, then a portion of interest charged on the new principal amount of the loan subsequent to that time should be considered to be on account of compound interest and deductible pursuant to paragraph 20(1)(d) of the Act when paid. ...

Principal Issues: Are payments under the Ontario Workplace Safety and Insurance Act (formerly Workers' Compensation Act) considered to be a pension for purposes of the Act? ... Each claim is considered and treated separately and benefits are based on each individual situation. ... We recognize that certain benefits provided under the WSIA may also be considered payments that qualify as a pension benefit under paragraph 56(1)(a) of the Act. ...

For these purposes, current liabilities of a corporation are not considered to relate to any particular asset of the corporation. Generally, a particular liability may be considered to relate to a particular asset if the liability is specifically secured by that asset, regardless of the direct use of the proceeds of the borrowing or of the transaction or event giving rise to the particular liability.  For example, a loan secured by a mortgage of real property would generally be considered to relate to that property regardless of the direct use of the proceeds of the loan.  ...