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Is a paper return, filed by a tax preparer, still considered a validly-filed return for the purposes of the taxpayer? ... Where electronic filing is required by either subsection 150.1(2.1) or (2.3), is a paper return still considered a validly-filed return for the purposes of subsection 150(1) and the late-filing penalty in subsection 162(1)? ...

In view of the above, it is our opinion that where it can beestablished that more than 5O% of the use of a farm residence, owned by a farm partnership, is used as accommodation for persons (or their dependants) who are actively employed in the farming business, such residence would be considered to be property used in the business of farming for purposes of the definition of "interest in a family farm partnership" in subsection 110.6(1). ...

In other words, in order for two individuals cohabiting in a conjugal relationship to be considered common-law partners in the first year of cohabitation, both individuals must be considered parents of a child. An individual can be considered the parent of a child for income tax purposes when they are either the biological or adoptive parent of a child. ... In most of these cases we would not expect that both criteria required for the cohabiting individual to be considered to be a "parent" of the child- i.e. ...

-resident company will be considered to own more than 10% of the voting shares of the corporation paying the dividend. ... -resident company will be considered to own 99.98% of the dividend payer's shares for the purposes of Article X(2)(a). 2009-031870 XXXXXXXXXX J. ... Therefore, such portion of the dividends paid by Canco will be considered to be derived by USco for the purposes of the Convention. ...

Principal Issues: Is cash considered to be an asset used principally in an active business? ... Nevertheless, we offer our general views as to when cash or near cash property held by a corporation will be considered to be used in the course of an active business. ... In the Department's view, cash and near cash assets held to offset the non-current portion of long term liabilities will not generally be considered to be used in the business. ...

The Supreme Court of Canada in the Ensite case (86 DTC 6521) considered the issue of whether property was used or held in the course of carrying on business and held that the proper test is whether the property is employed and risked in the business. ... In the Department's view, cash and near cash assets held to offset the non-current portion of long term liabilities will not generally be considered to be used in the business. ... In our view, the employment of marketable securities merely as collateral is not generally sufficient to enable it to be considered to be used in a business. ...

As requested, we have considered your enquiry and have provided our views. ... Cash or near cash property is considered to be used principally in the business if its withdrawal would destabilize the business. 2. ... Cash balances which accumulate and are then depleted in accordance with the annual seasonal fluctuations of an ongoing business will generally be considered to be used in the business, but a permanent balance in excess of the company's reasonable working capital needs will generally not be considered to be so used. 4. ...

You queried whether Holdco's cash could be considered to be "used principally in an active business carried on... by a corporation related" to Holdco. ... As an example, certificates of deposits required to be maintained by a supplier would generally be considered to be used in a business. ... The employment of cash merely as collateral is not generally sufficient to enable it to be considered to be used in a business. ...

Principal Issues: Will an individual be considered to be enrolled when that individual has accepted a position at a qualifying institution? ... Reasons: An individual will be considered enrolled when the particular designated institution considers the individual to be enrolled. ... We have concluded that an individual will be considered enrolled for purposes of the Act when the individual is considered enrolled by the particular designated educational institution. ...

In accordance with Interpretation Bulletin IT-392, the LLC is considered to have a capital stock consisting of 100 issued shares and each owner of a beneficial interest in the LLC is then considered to own a number of shares proportionate to his or her beneficial interest in the LLC. Each amount distributed on account of profits by the LLC to its owners will be considered dividends for purposes of the Act and the Regulations made thereunder. 3. ... Income Tax Convention These comments are provided in accordance with the guidelines set out in paragraph 22 of Information Circular IC 70-6R4 dated January 29, 2001, issued by the Canada Customs and Revenue Agency (the "CCRA") and are not considered binding on the CCRA. ...