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In setting out the above position, we have also considered the Huffman (90 DTC 6405), Splane (90 DTC 6442), Ransom (67 DTC 5235) and Phillips (90 DTC 1274) cases. In this regard, the Department has only accepted the Huffman, Ransom, and Splane cases in so far as the circumstances of a particular situation are essentially identical with the facts of whichever of these three cases is considered to be relevant. ...

These comments should not be considered as confirming that the loss in your situation is an allowable business investment loss. ... If a debt is merely doubtful of collection, it should not be claimed as a bad debt but should be considered for purposes of a reserve for doubtful debts. ...

However, if, as a result of an amalgamation, shares of a predecessor corporation were cancelled by the predecessor and new shares were issued, then the provisions of subsection 84(9) of the Act would result in a disposition of a share of the capital stock of the predecessor corporation to that corporation, and this would be considered to be a "transfer of property" to Amalco for the purposes of sections 74.4 and 74.5 of the Act, since Amalco is deemed by paragraph 87(2)(j.7) of the Act to be the same corporation as, and a continuation of, each predecessor corporation for the purposes of those sections. ... If so, the Department would have to review the facts to determine whether the amalgamation has been undertaken in an attempt to avoid the application of subsection 74.4(2) of the Act and could therefore be considered to result in a misuse of the provisions of the Act or an abuse having regard to the provisions of the Act read as a whole for the purposes of subsection 245(2) of the Act. ...

If we understand your position correctly, it is your view that the financial statements and schedules (and in particular, schedule T2S(1)) which are filed with a T2 Return cannot be considered prescribed forms and thus do not form part of the return of income required under paragraph 150(1)(a) of the Act. ... Thus both the information contained on a form and the form itself can be considered "prescribed" even though the actual format of the form may not be prescribed by the Minister. ...

Reasons FOR POSITION TAKEN: 1.Interests in a partnership are transferred between spouses primarily to obtain a tax benefit by deducting losses that would otherwise become non-deductible. 2.Given the existence and purpose of various attribution rules for non-arm's length transfers, this transaction could be considered a misuse or abuse of the Act read as a whole. 5-940894 XXXXXXXXXX L. ... A salary paid to a spouse by a proprietor or partnership will generally be considered reasonable if: 1.the circumstances are such that a reasonable businessman would have paid the salaries; and 2.the salaries paid are commensurate with the value of the responsibilities assumed and services performed. ...

You have arrived at the opinion that this payment should be characterized as a capital receipt and further that as a capital receipt to which the eligible capital rules and capital gains rules are inapplicable it should be considered a "nothing" and not subject to taxation. ... We are of the view, given the limited information that you have provided in your letter, that the "partial compensation" amount for the additional income taxes paid in that year, could be considered a receipt on account of capital and that the amount could indeed be a non-taxable capital receipt. ...

Facts The relevant facts, as we understand them, can be summarized as follows: XXXXXXXXXX Our Comments Whether or not an amount received as a settlement of claims made as a result of a dispute over entitlement to long term disability benefits is a taxable amount under paragraph 6(1)(f) of the Act will depend on whether the amount can be considered as paid pursuant to the terms of a disability insurance plan, an income maintenance insurance plan or a sickness or accident insurance plan, to which the employer has made contributions. ... M.N.R 1987 DTC 268 similar circumstances were considered and the court concluded that the amounts were paid in satisfaction of the taxpayer's right to sue under the contract rather than as a payment in lieu of actual periodic payments payable under the policy. ...

Some of the factors to be considered include whether his family has moved with him, the nature and term of the new employment, his intentions, a change of driver's license and motor vehicle registration (where moving to another province) and so on. ... Provided this is the case, the taxpayer would be considered to have moved in 1994 when the leased accommodation became his ordinary place of residence. ...

You ask whether the sale of the 50% interest in the property to the corporation and the disposition of the shares to the discretionary family trusts would be considered a disposition of "non-qualifying real property" within the meaning of subsection 110.6(1) of the Act. ... These comments should not be considered as confirming that the property in question is capital property generating capital gains rather than income. ...

Furthermore, you are also of the view that the cottage property will be considered to have been owned at the end of 1981 and continuously thereafter for purposes of the alternative gain determination pursuant to subsection 40(6) of the Act. ... It is our view that, in the circumstances under review, the cottage property will be considered to have been owned at the end of 1981 and continuously thereafter by W for purposes of the alternative determination of the gain pursuant to 40(6). ...