Search - considered

Section 94.1 will apply in computing the FAPI of BCo if BCo holds a share of a non-resident entity (CCo) that may reasonably be considered to derive its value, directly or indirectly primarily from portfolio investments of that entity (CCo) or any other non-resident entity, and all of the other conditions in section 94.1 are met. ... In arriving at this conclusion, we make the assumption that Opco continues to be considered as a foreign affiliate of Canco for purposes of making the hypothetical test in paragraph 94.1(1)(d) as modified by paragraph (b) of variable C of the definition of FAPI in subsection 95(1). ...

Furthermore, we believe that section 84.1 and subsection 84(2) are not in conflict and that the potential application of both provisions must be considered in the context of pipeline transactions. ... As stated in technical interpretation 2006-0170641E5 (F) and reiterated in our response to question 1 at the 2009 APFF conference on financial strategies and instruments, the foregoing elements have been, and continue to be, part of the proposed transactions submitted by the taxpayer involved and as such, cannot be considered to be conditions required by our Directorate. ...

Hence, in the given instance, the deceased would not be considered in the determination of a "resident contributor". ... However, paragraph 94(4)(c) of the Act provides that a deemed resident trust under subsection 94(3) is not considered resident in Canada for the purposes of determining the liability of a person (other than the trust) to withhold and remit under section 215 of the Act. ...

24 October 2014 Internal T.I. 2013-0473751I7- Gold Indian investment CRA Tags 81(1)(a) Principal Issues: Income tax treatment of gold investment by status Indian Position: It depends on application of connecting factors to each case Reasons: Gold-trading considered an adventure or concern in the nature of trade (business). ... Thus, although the activity of purchasing and selling gold bullion is considered to be a business or an adventure or concern in the nature of trade, the taxpayer may choose to report the business profit or loss that is generated as a capital gain or loss for tax purposes. ...

The CRA has stated that "[m]aintaining reasonable operating reserves or bank accounts required for ordinary operations will generally be considered to be an activity undertaken to meet the not-for-profit objectives of an organization" (2010-0380581I7). ... As explained in Interpretation Bulletin IT-496R, "Non-Profit Organizations", the amount of accumulated excess income considered reasonable in relation to the needs of an organization to carry on its not-for-profit activities and goals is a question of fact in each situation to be determined with regard to the organization's particular circumstances. ...

You have asked that we confirm that an Employee RCA Contribution made by an eligible member XXXXXXXXXX will be considered to satisfy the condition of employment requirement in paragraph 8(1)(m.2) of the Act and therefore deductible in computing the employee's income (assuming all of the other conditions in that paragraph are met). ... In our view, the Employee RCA Contributions described above are more analogous to the contributions described in the second example than those described in the first example and thus we would expect that they would be considered required by the terms of the member's employment for the purposes of paragraph 8(1)(m.2) of the Act. ...

To determine “necessity”, both subjective and objective factors are considered by the CRA. ... Some of the factors considered are outlined in paragraphs 15 and 16 of IT-120R6, which include the following: the size and character of the housing unit together with its location on the property; whether the extra land is necessary for access to and from public roads; whether extra land is required as drainage fields for septic tanks; whether the land has the physical characteristics feasible for subdivision; and whether there is a minimum lot size, severance, or subdivision restrictions associated with the property. ...

However, when the time spent on reserve is considered incidental, the employment income will not qualify for the exemption. ... Similarly, time spent in flight between reserves would generally not be considered to be time spent on a reserve. ...

18 June 2014 External T.I. 2014-0534261E5- Restricted Farm Losses CRA Tags 31(2) 31(1) Principal Issues: Whether losses under various scenarios would be considered restricted farm losses? ... However, this requirement is generally considered to have been met when the person is "actively engaged" in the management and/or day-to-day activities of the farming business. ...

Therefore, the court concluded that where a shareholder provides a guarantee without charging a “guarantee fee” or provides an interest free loan to a corporation in order to provide capital to that corporation, a clear nexus exists between the taxpayer and the potential future income This case considered a situation where the taxpayer does not hold shares in the borrower corporation, but rather is a shareholder of a parent company or other shareholder of the borrower corporation. ... Based on the limited information you have provided, we are unable to comment on whether or not the corporation otherwise satisfies the criteria for the payment of the loan to be considered an ABIL. ...