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Additional Information To the best of your knowledge, none of the issues involved in this ruling are being considered by a District Office or Taxation Centre in connection with a tax return already filed, and none of the issues are under objection. ... B.7(1)(b) will not apply as a consequence of the amendment of the Plans in accordance with paragraph XXXXXXXXXX of the Plans to provide, at the option holder's option, the right to receive the economic value of the stock options in the form of cash consideration, and the Plans will not be considered to be new plans as a result of the modification. ...

Reasons FOR POSITION TAKEN: The terms of the settlement are considered to be consistent with the Department's position set out in paragraphs 3 and 5 of IT-365R2. ... However, an irrevocable direction will be executed in respect of the annuity contract directing Lifeco to make the payments directly to the Claimant or XXXXXXXXXX legal representative, or XXXXXXXXXX estate, as the case may be. 9.You have advised and you confirm to the best of your knowledge that none of the issues involved in this ruling request is being considered by a Tax Services office or a Tax Centre in connection with a tax return already filed and none of the issues is under objection. ...

Where a bank account is considered to be situated at a location on reserve, this is one factor to weigh in determining whether interest earned on deposits in that account is exempt from taxation. ... Her Majesty the Queen (94-1971(IT)G), the Tax Court of Canada considered the taxability of income earned by an Indian living on reserve, from investments purchased from an on reserve branch of a bank. ...

Reasons FOR POSITION TAKEN: The terms of the settlement are considered to be consistent with the Department's position set out in paragraphs 3 and 5 of IT-365R2. ... However, an irrevocable direction will be executed in respect of the annuity contract directing Insurer No. 2 to make the payments directly to the legal representatives of the Claimant, or XXXXXXXXXX estate, as the case may be. 9.You have advised and you confirm, to the best of your knowledge, that none of the issues involved in this ruling request is being considered by a Tax Services office or a Tax Centre in connection with a tax return already filed and none of the issues is under objection. ...

If rent is received from a related family farm corporation for the use of farm property, the income is considered rental income and is reported separately by the individual. ... You question that if there is a sale of this elected land to their farm corporation, whether they are required to meet the 24 month holding period as the farm property must have been held or substituted for a property for 24 months prior to the sale date to the corporation in order to be classified as " qualified farm property" Our Response: If an individual farmer has filed a capital gains election for qualified farm property, the property is considered to have been sold and have been immediately reacquired. ...

Where a bank account is considered to be situated at a location on reserve, this is one factor to weigh in determining whether interest earned on deposits in that account is exempt from taxation. ... Her Majesty the Queen (94-1971(IT)G), where the Tax Court of Canada considered the taxability of income earned by an Indian living on reserve, from investments purchased from an on reserve branch of a bank. ...

Pursuant to subsection 118.4(1) of the Act, an individual's ability to perform a basic activity of daily living is considered to be "markedly restricted" only if all or substantially all of the time, even with therapy and the use of appropriate devices and medication, the individual is blind or is unable (or requires an inordinate amount of time) to perform a basic activity of daily living. An individual would be considered to have met the "all or substantially all" requirement if 90% of the time (or more) the individual is unable (or requires an inordinate amount of time) to perform a basic activity of daily living. ...

If an employer's plan provides benefits which do not qualify for inclusion in a health and welfare trust, the plan will be considered an employee benefit plan or employee trust as described in Interpretation Bulletin IT-502 "Employee Benefit Plans and Employee Trusts". ... As discussed above, if a plan allows expenses outside of the purview of subsection 118.2(2) of the Act, the plan will be considered an employee benefit plan or employee trust. ...

M.N.R. (92 DTC 1622), has considered this type of situation in which the governing document (decree, order or judgement of a competent tribunal or a written agreement) provides that the payer must pay the tax payable on the allowance in addition to the allowance itself, and determined that the tax payable will be considered part of the allowance and will be deductible as well. ...

Nevertheless, should part of the retiring allowance relate to services rendered outside Canada for which the Canadian employer is not reimbursed by the non-resident employers it does not appear that the payment of the retiring allowance could be considered as having been made or incurred for the purpose of gaining or producing income from a business or property in the Canadian company. Furthermore, it would appear that the payment by the Canadian company of the part of the retiring allowance which related to the services rendered outside Canada could be considered to be a benefit conferred on another member or members of the corporate group to which the Canadian company belongs. ...