Search - considered

CRA stated: As indicated in … IT-213R, the amount or value of a prize received by a taxpayer from a lottery scheme is not taxable as either a capital gain or income unless … the prize can be considered, inter alia, to be income from employment. … CRA went on to find that “since only employees could participate in the draw … the employee who wins the item should include in the employee’s income the proportion of the value of the item that was paid for by a contribution made by the employer to the social club fund.” ...

Thus, a partner receiving undivided interests in shares held by a partnership in accordance with subsection 98(3) could be considered to hold shares of the corporation for the purpose of determining whether the recipient is entitled to the capital gains deduction …. … [T]he shareholder has held the undivided interests in the shares for more than 24 months and will continue to hold them until their disposition. ...

30 September 2005 External T.I. 2004-0093661E5 F- Revenu d'une fiducie et droit acquis par un mineur-- summary under Subsection 104(24) Summary Under Tax Topics- Income Tax Act- 101-110- Section 104- Subsection 104(24) written trustee resolution may be necessary to establish that an amount of income has become payable How can the trustee designate or report an amount so that it is considered to be payable to a beneficiary? ...

CRA responded: [W]here a payor has entered into a legal agreement with a non-resident for the right to use copyrighted property in connection with the manufacture, sale and distribution of any artistic work in Canada, a royalty or similar payment for that right would be considered to be “on or in respect of a copyright in respect of the production or reproduction of any...artistic work” in subparagraph 212(1)(d)(vi) even if the payor does not manufacture the artistic works, which it distributes under that legal agreement. ...

Accordingly, if expenses are disproportionately allocated when calculating the income described in subparagraph (a)(i) of the definition of SCI in subsection 125(7) for the year …[o]nly the expenses that are reasonable to consider to be attributable to the activities generating the income described in subparagraph (a)(i) of the definition of SCI should be considered. ...

In finding that no such deduction was permitted, CRA stated: Generally, a plan will be considered to be a pension plan where contributions have been made to the plan by or on behalf of an employer or former employer of an employee in consideration for services rendered by the employee and the contributions are used to provide an annuity or other periodic payment on or after the employee's retirement. … [A] plan will not be a pension plan where the only payment provided for under the terms of the plan is a single lump sum payable on retirement or loss of employment. … [A] plan that is excluded from being a salary deferral arrangement (“SDA”) by virtue of the special exception for professional athletes in paragraph (j) of the SDA definition in subsection 248(1) [also] will not be a pension plan, regardless of the form of benefits provided. ...

A be considered to own all the shares of Opco under s. 256(1.2)(f)(ii)? ...

CRA considered that, based on its brief description, this policy likely qualified as a “superannuation or pension fund or plan.” ...

CRA’s reasons suggest that it also considered it necessary that the central management and control of the exempted corporation be in the U.S. ...

CRA stated: Where a business has income from the provision of both services and non-services (including from a sale of tangible or in some circumstances, intangible property) such as a business carried on by plumbers, mechanics or other contractors that sell replacement parts or materials, the income from the provision of non-services will generally be taken into account in determining whether shares of a corporation are excluded shares of an individual unless such income can reasonably be considered to be necessary but incidental to the provision of the services (for instance an office cleaning service if it billed separately for the cleaning supplies used). ...