Search - considered

The term "replicate" must be read in the context of the whole expression, "may reasonably be considered to replicate..." and as such does not require that the rights associated with one particular type of unit be identical to the rights associated with those units that the particular type of unit is considered to replicate. ... Thus, depending on the specific terms and conditions of the units of both the limited partnership and of the mutual fund trust, it is possible that the units of the mutual fund trust could be considered to be an investment in the limited partnership. ...

Part II: Travel between two places of business of the employer is not considered personal. ... Part I- Special Work Site You inquired whether the following logging site is considered a "special work site". ... However, travel between two places of business of an employer is not considered personal. ...

Would government assistance that is deferred and amortized into income in accordance with GAAP be considered a "reserve", "provision", "allowance" or "advance" for purposes of computing capital under subsection 181.2(3) of the Act? ... Does the fact that the government assistance may become repayable at a future date if the recipient does not use the asset acquired with the funds in a manner required by the assistance agreement, result in the assistance being considered an "advance". ... The fact that the funds may become repayable at a future time because the recipient failed to continue to satisfy a requirement under the agreement would not in our view cause the funds, when received, to be considered an advance. ...

Principal Issues: Whether income from a 100 room hotel and 12,000 foot commercial area would be considered business income or rental income. ... However, even if a business is considered to exist, the property used therein may be considered to be a “rental property” for the purposes of the capital cost allowance ("CCA") restriction in subsection 1100(11) of the Income Tax Regulations (the “Regulations”). ... Given the limited information provided in your letter, we cannot comment further on whether income from the proposed 100 room hotel and 12,000 square foot commercial area would be considered business income or property income and whether the property would be considered rental property. ...

Principal Issues: Definition of Qualified Small Business Corporation Shares and when cash or near cash property will be considered to be used in the course of an active business. ... Cash or near cash property is considered to be used principally in the business if its withdrawal would destabilize the business. ... 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. ...

If the landfill gas escapes into the atmosphere it would be considered waste. ... The resulting compost is a valuable commodity (goods) and would not be considered "municipal waste". ... The landfill gas could be considered to be related (connected or allied) to the municipal waste but it would not be considered to be related to petroleum or natural gas. ...

Principal Issues: Whether the land owned by a taxpayer is considered to be "qualified farm property"? ... Some of the criteria which should be considered in making this determination are set out in Interpretation Bulletin IT-322R. Rental income would not be considered to be part of a farming business. ...

As indicated in paragraph 21 of Information Circular 70-6R2 dated September 28, 1990, a request for a written opinion on a completed transaction should be considered by the taxpayer's local district office. ... The relevant circumstances include the actual use to which the cash or near cash properties are put in the course of the business, the nature of the business and the practice in the particular business. 2.Cash or near cash property is considered to be used principally in the business if its withdrawal would destabilize the business. 3.Cash which is temporarily surplus to the needs of the business and is invested in short-term income producing investments could be considered to be used in the business. 4.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. 5.The accumulation of funds in anticipation of the replacement or purchase of capital assets or the repayment of a long-term debt will not generally in itself qualify the funds as being used in the business. 6.Cash or near cash property is considered to be used principally in the business if its retention fulfils a requirement which had to be met in order to do business, such as certificates of deposits required to be maintained by a supplier. 7.The Department recognizes that prudent financial management requires businesses to maintain current assets (including inventories and accounts receivables, as well as cash and near cash properties) in excess of current liabilities and will consider this requirement in assessing whether cash or near cash assets are used principally in a 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. ...

You also ask whether an amount on account of severance pay as required by federal or provincial employment standards legislation is considered a retiring allowance. ... It will be considered employment income. Question 4 You ask us to confirm that an amount paid to a former employee on account of severance pay required under provincial or federal employment standards legislation is considered a retiring allowance. ... We concluded that "severance pay" as provided for under that statute would be considered a retiring allowance. ...

Reasons FOR POSITION TAKEN: A right to use property (eg., a helicopter or equipment) for a period of time could be considered a property. Therefore, a donation of a right to use a helicopter or equipment for a period of time could be considered a gift in kind. ... A right to use property (eg., a helicopter or equipment) for a period of time could be considered a property and a donation of a right to use a property, depending on the facts in a particular case, could be considered a gift in kind. ...