Search - considered

The undivided interest of each co-owner in such a situation cannot be considered "principally" used in the business of farming. ... You have submitted extensive representations on the issue of whether rights may be considered property for the purposes of the Act. ... Finally, a property is considered to be used principally in the business of farming if more than 50% of its use is in that business. ...

Principal Issues: (1) Whether shares must be held for a minimum period of time to be considered QSBCS under ss. 110.6(1). (2) Whether such period begins at the time the corporation is created or at the time an active business commences. (3) When is a corporation considered to be carrying on a business. (4) Where overburden is sold in order to access gravel deposits as part of preparing a site for production, would the proceeds be considered on account of income or capital. (5) If on account of capital, can the proceeds be applied to reduce the cost of the property. ... With respect to the latter issue, you ask what activities can be considered business operations where a newly created corporation does not begin to carry on an active business immediately upon its incorporation. ... In that context, what is considered business operations is a question of fact. ...

Scenario 2: (4) Are cash and near cash assets required to be held by a construction company considered to be assets used principally in an active business? ... Cash or near cash property is considered to be used principally in the business if its withdrawal would destabilise the business. 3. ... 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. ...

24 September 2012 External T.I. 2012-0455741E5- AIM of the London Stock Exchange CRA Tags 248(1) "recognized stock exchange" 248(1) "designated stock exchange" 262 Principal Issues: Is AIM considered a “recognized stock exchange” as defined under subsection 248(1) of the Income Tax Act? ... Given that AIM is located in the UK (a member of the OECD which has a tax treaty with Canada), the only remaining question is whether AIM is considered to be a ‘stock exchange’. ... Given that AIM is a market which allows for the organized purchase and sale of securities and it is considered to be a multilateral trading facility under UK law, it is our view that AIM would be considered a stock exchange for purposes of the Act and therefore a “recognized stock exchange” under paragraph 248(1)(b) of the Act. ...

The Taxpayer does not intend to become a US resident, and will not otherwise be considered a US resident for US tax purposes. ... Under the circumstances that you have described, and noting that the Taxpayer will remain a factual resident of Canada, where all other requirements of the provision are otherwise satisfied, the question of whether the relocation would be considered an "eligible relocation" for purposes of this definition would depend upon whether the Taxpayer is considered to ordinarily reside at the new residence in the US. ... " While the issue of where an individual is considered to ordinarily reside remains a question of fact, the terms and nature of the individual's presence in a country, including the temporary or permanent nature of that individual's authorization to work in that country, are some of the many factors that may be considered in making such a determination. ...

It is a question of fact whether a reduction of outstanding tuition fees would be considered to enable a student to pursue his or her education. If the nature of the assistance meets this requirement, the amount could be considered a bursary. ... The assistance provided would be considered to be a bursary to the student. ...

Paragraphs 5 and 6 of IT-91R4 provide comments on whether employment duties at a special work site will be considered temporary. ... Paragraph 6 clarifies that, where the duties are expected to provide the individual with continuous employment beyond two years, as determined at the outset, those duties are generally not considered to be of a temporary nature. ... However, travel between an employee's residence and the employee's regular place of employment, irrespective of the distance, is considered to be personal travel and any reimbursement or allowance received would be taxable. ...

You wish to know whether the settlement payment in these circumstances would be considered non-taxable as damages received for a human rights violation. ... Based on the information available in this case we can not determine what portion of the amount, if any, might be considered a reasonable award with respect to a human rights violation. ... Only if the answer to the first question is "no" and the answer to the second question is "yes", will the amount received be considered a retiring allowance. ...

Position: Yes Reasons: Paragraph 87(7)(d) of the ITA applies such that the amalgamated company is considered to be the corporation that realized a gain under subsections 111(4) and 111(12). ... The Queen (2007 DTC 1701; [2008] 3 CTC 2376 (TCC); rev'd 2008 DTC 6544; 2008 FCA 231) considered the interpretation of subsection 87(7), although in the context of paragraph 78(1)(a). ... " It is reasonable to conclude that paragraph 87(7)(d) should apply such that Amalco is considered to be the corporation that realized a gain or loss in respect of the foreign currency debt because of subsection 111(12) for the purposes of subsection 40(11). ...

A gain arising on the sale of real estate may be considered to be business income or a capital gain. ... This definition can cause an isolated transaction involving real estate to be considered a business transaction. ... However, in making such determinations, the courts have considered different factors. ...