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However, it was not necessary to address this question “because PC1 also carries on a medical services business in Year 1 which would be considered a “related business” in respect of Spouse A.” ...

CRA stated: [T]he forgivable portion of the CEBA is an amount described in subparagraph 12(1)(x)(iv), because it is an amount received by the taxpayer from a person described in subparagraph 12(1)(x)(i), in the course of earning income from a business, and that amount “can reasonably be considered to have been received…as a…forgivable loan…in respect of...an outlay or expense”. ...

Assuming that the SEP meets the 12-hour requirement, the student in this case will likely be considered a PT qualifying student in respect of the study-abroad program. ...

Before finding that the taxpayer could not recognize a deductible expense as the rewards were earned, and that the applicable deductions were deferred until the points were redeemed, the Directorate stated: [T]he courts have held that an expense will not be considered to have been incurred unless the taxpayer has an obligation to pay money to someone [citing Burnco Industries, Northwood Pulp and General Motors]. … [and] that a legal obligation to pay under contract does not exist until all contractual preconditions to which the payment relates are fulfilled [citing Wawang Forest Products]. ...

CRA indicated that: “the creation of a Secondary Suite, either within or detached from a Homeowner’s principal residence, to be used for earning rental income will generally trigger a deemed disposition pertaining to the portion of the Property so converted pursuant to subparagraph 45(1)(c)(ii)”; the homeowner could make an election pursuant to s. 45(2) to defer the recognition of any resulting gain to a later taxation year; for purposes of the principal residence exemption, “if two housing units can be enjoyed and ordinarily inhabited separate from each other without access to the other (that is, if each unit is a self-contained unit with its own entrance, kitchen and bathroom) … they will be considered separate housing units” even if “the housing units are part of a single structure or are not on separate legal lots” – so that on disposing the homeowner would have to choose which of the two units to designate as principal residence for each applicable year, as discussed below; and although the ordinarily-inhabited condition under the principal residence definition would not generally be met for the Secondary Suite while it was rented to third parties, “[w]here a subsection 45(2) election is made by a taxpayer for a property that is the subject of a change in use, the property can qualify as the taxpayer’s principal residence for up to four taxation years during which the election remains in force, even if during those years the housing unit was not ordinarily inhabited by the taxpayer or one of the … family members ….” – so that the homeowner would be able to choose for such a year to designate the Secondary Suite rather than the balance of the property as that taxpayer’s principal residence. ...

Reg. 5907(1.4) will deny the amount prescribed to be FAT of Holdco under Reg. 5907(1.3)(b) to the extent it relates to the Compensatory Payment made to Loss LLC 2- on the basis that the Compensatory Payment cannot reasonably be considered to be in respect of a FAPL or a FACL. ...

After indicating that “[w]hether the components of a Wind Project or a Solar Project are fixtures, and therefore are considered “real or immovable” property for the purpose of the definition of TCP, can be informed by the application of the guidance provided in the Maple Ridge case [Royal Bank of Canada v. ...

CRA responded: Where the undertaking and activities of a taxpayer include the holding of real estate, relevant factors to be considered would include the place where the property is situated and where related undertakings or activities occur like the operation and use of the property, its maintenance and upkeep, its management, administration and financial management. ...

. … In the situation where Parent was not be considered to have acquired control of Parentco on the incorporation of Parentco and the marketable securities belonged to Parentco at the time when Parent acquired the control of Parentco, subparagraph 88(1)(c)(v) would apply if the assumptions you described in your request are taken into account, as modified by those stated in question (d). ...

21 February 2013 External T.I. 2012-0442751E5 F- Non-Profit SR&ED corporation-- summary under Paragraph 149(1)(j) Summary Under Tax Topics- Income Tax Act- Section 149- Subsection 149(1)- Paragraph 149(1)(j) various stipulated s. 149(1)(j) requirements not stipulated in articles or by-laws In the course of a general discussion, CRA noted that a s. 149(1)(j) organization need not be approved under s. 37(1)(a)(ii), and stated: The [Third-Party Payments] Policy sets out the following criteria for a corporation to be considered a non-profit corporation for SR&ED: The corporation's activities must be carried on without the purpose of gain for its members. ...