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We agree with your statement that the amendment brings the refund of tax received by the Canadian resident into income, but it does not specify that the tax withheld is to be considered a tax on the dividend. ...

In reply to your specific questions, it is our opinion that in all three cases the value of the partnership interest would be increased but such increase would not normally be considered for purposes of subsection 206(1) unless such gains or profits are used to acquire additional interests in the partnership (e.g. his proportionate share of any future gains or profits is increased). ...

As all facts must be considered in this determination, it is not possible to state that one particular fact, in and by itself, will not tip the scales in one direction or the other. ...

It is our view that the sales commissions or acquisition fees paid to acquire investment property is considered to form part of the cost of the property for capital gains tax purposes. ...

2) "Personal and Economic Relations"- What factors would be considered in determining personal and economic relations? ...

You asked whether our department considered an exemption for 10, 15, 78 or 158 acres as allowed in the cases cited as acceptable in tax policy terms. ...

A taxpayer would be considered to receive the grant in the course of earning income from a business or property if, for instance; (a) the conversion was carried out to a building in which he carries on business, or (b) the conversion was carried out to a building from which he earns rental income. ...

You will note that employee-pay-all type plans are not subject to the provisions of paragraph 6(1)(f), but that an employer cannot change the status of a plan to an employee-pay-all plan by adding to the employee's income the employer's contribution that would normally be considered a non- taxable benefit. ...

We considered but did not form an opinion as to when an employee acquired the shares as a consequence of the employee's right to receive more shares if there is a decline in value when payment is completed. ...

We have reviewed the matter and agree with your opinion that the benefits should be considered taxable income in the hands of the recipient. ...