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Principal Issues: Whether or not a Kazakh Limited Liabilities Partnership is considered to be a corporation for puroses of the Income Tax Act Position: Would be considered to be a corporation Reasons: A review of the legislation indicates that a Limited Liabilities Partnership would be a separate legal entity in line with the comments in IT-343 XXXXXXXXXX 962459 XXXXXXXXXX David R. ... Where a LLP is considered to be a corporation, our administrative position set out in IT-392 (Meaning of the Term "Share") would apply. As such, a LLP would be viewed as having capital stock of 100 issued shares and each owner of a beneficial interest in the LLP will be considered to own a number of shares proportionate to his beneficial interest in the LLP. ...

Principal Issues: whether a unit in a money market fund can be considered cash for the purpose of 108(2)(b), 204.4(2)(a) and the def'n of pooled fund trust in ss 5000(7) of the Regs Position: no Reasons: while admittedly very liquid, this type of investment cannot be used in lieu of legal tender and does not fall within the ordinary meaning of cash- a deposit with a bank, on the other hand, will qualify as cash when no restrictions are placed on the depositor with respect to withdrawals-while a bank account may not strictly be considered cash, jurisprudence exists in which the amount left on deposit with a bank has been considered as cash A. ... However, recognizing that a unit in a money market fund which cannot be easily traded is not a marketable security, you ask whether a unit in a money market fund trust can be considered as cash. ... In our view, a unit in a money market fund cannot be considered to be cash. ...

Reasons FOR POSITION TAKEN: The Department considers that a property is a replacement for a former property where it can reasonably be considered to have been substituted for the use of that former property. ... In this particular case, since the former land and former buildings were replaced with the same type of property, namely land and buildings, and since land is not considered to bear the same physical description as a building, the buildings cannot reasonably be considered to have been substituted for the land, nor can the land be considered to have been replaced with the buildings. ... We have considered the calculation on page 6 of the taxpayer's submission and cannot agree with the taxpayer's method of determining the deferred capital gain. ...

The "place of business" refers to the location where these employees are considered to be employed, i.e., the employee's normal place of employment and not where the food is being served or at a temporary work location albeit a place of business of the employer. ... In other words, a particular employee would be considered to be employed at one particular place of business rather than being employed at each and every location that they perform a function for their employer. ... In the situations which you describe, employees from, say, Halifax and Vancouver who are attending training courses in Toronto would be considered to be employees of their respective cities and would be considered to be in travel status while in Toronto. ...

Position: Under the circumstances, the eligible expenses related to the first move would likely be deductible with the second being considered not a qualifying move. Reasons: The second move would not be considered to have been made by reason of having commenced employment at a new work location. ... In order for Winnipeg to be considered as the taxpayer's new work location he would have to have commenced to be employed at that location in either 1995 or 1996. ...

You have asked us to comment on whether the rental income earned by the partnership would be considered income from a business, or property income. ... Our Comments It is a question of fact whether or not rental income is considered business income or property income. ... The tax treatment of rental income earned by a non-resident depends upon whether or not the rental operation is considered to be a business carried on in Canada. ...

Training costs would be considered to provide an enduring benefit to a taxpayer where they are incurred to obtain a new skill or qualification. ... You inquired whether the exam fees would be considered an "eligible capital expenditure" for your business. ... A number of intangible properties that are generally considered eligible capital expenditures are listed in IT-143R3, most notably goodwill. ...

Specifically you ask: 1) What type of accommodation is considered pertaining to travelling versus temporarily residing? ... 2) What is the maximum length of stay considered to pertain to travelling versus temporarily residing? ... Again the length of the stay must be considered together with the other relevant factors in order to reach a definitive conclusion. ...

Any location at or from which the employee regularly reports for work or performs the duties of employment is generally considered a regular place of employment. ... The travel from this job site to the employer's head office later in the day is considered travel for business purposes. The travel from the employer's head office to home at the end of the day is considered personal use of the motor vehicle. ...

Principal Issues: Would bonus interest payments paid directly into an RESP be considered contributions to the RESP by the subscriber for purposes of calculating the RESP annual limit for the year? ... Reasons: Where bonus interest on an investment held by an RESP is paid directly to the RESP, the bonus interest paid will not be considered a contribution made into the plan for purposes of sections146.1 and 204.9 of the Act. ... Where a debtor has a contractual obligation to pay bonus interest in respect of a qualified investment held by an RESP, the bonus interest will be considered a return on its investments and will not be considered a contribution made into the plan for purposes of sections146.1 and 204.9 of the Act. ...