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However … where a “professional status” is only acknowledged in an organization’s bylaws, the “professional status” would not likely be considered “recognized by statute” …. ...

In 2017-0735771I7, Headquarters considered that such loss was suspended on the basis that, for purposes of s. 40(3.5)(c)(i), Bco was a corporation “formed” on the “merger” of CCo with BCo – with the result that BCo was deemed to continue to own the shares of CCo with which it was affiliated, notwithstanding that CCo had, in fact, ceased to exist. ...

[G]iven that the office space was unoccupied since the eligible entity moved to a new office … the old office space would likely not be considered to be used in the ordinary activities of the eligible entity. ...

Furthermore, the resulting Notice of Assessment or notice of no tax payable is considered to include a notice of no tax payable in respect of the Agreeing Province. … Accordingly … the federal assessment constitutes a Notice of Assessment or notification of provincial or territorial tax for all Agreeing Provinces. ...

Absent objectionable tax planning or abusive tax avoidance, this may be acceptable, but each particular situation would need to be considered on a case-by-case basis. ...

Therefore, if both spouses are considered to have beneficial ownership … they would both be required to file the election …. ...

It further indicated: [W]here a taxpayer’s requested amendment is fully reflected (or accepted by the Minister), the Minister will not be considered to have ascertained a different loss amount from the taxpayer. ...

The Directorate then stated: If a person who is subject to remittance basis taxation in Barbados files a return of income in Barbados contrary to the application of the law in force in Barbados, it is our view that the income reported on that return … would not be considered “taxed” in Barbados for the purposes of Article XXX(5) such that the benefits of the Treaty would not apply to the Income. ...

21 September 2021 Internal T.I. 2019-0807491I7- Subsections 93.1(5) and (6)-- summary under Subsection 93.1(5) Summary Under Tax Topics- Income Tax Act- Section 93.1- Subsection 93.1(5) access to ss. 93.1(5) and (6) needed for a US partnership to be considered to have a qualifying interest in a sister Opco paying it interest Canco held 100% of LLC2 through a US partnership (USP) and had an indirect 37% interest in USOpco. ...

Ss. 93.1(5) and (6) could only apply to such interest if, pursuant to the coming-into-force (CIF) provision for ss. 93.1(5) and (6) (which otherwise applied only to the 2013 and subsequent taxation years), it could be considered that the taxpayer (USP) had “elected[ed] in writing” and timely “file[d] the election with the Minister” to have ss. 93.1(5) and (6) apply to those earlier years. ...