Search - considered

In response to your April 13, 1989 request, we therefore reiterate the position stated at page 2 of Rulings' October 31, 1988 memorandum that "logs would not be considered 'finished goods' within the context of the use of term in paragraph 127(11)(b) of the Act". ... These assets were considered by Specialized Industries Section and by Rulings to be "qualified property" as this term is defined in subsection 127(9) of the Act provided that said assets are used primarily for the purpose of logging.  ... It is our view that assets such as the aforementioned self-tripping bunks related skidways and equipment used for handling logs in the water (for floating the logs to a processing facility) would be considered as being used primarily purpose for the purpose of logging. ...

The individual must be under instruction and direct supervision for the fees to be considered as tuition.  ... It is our view, therefore, that the cost of both dual and solo flying time while under instruction should be considered as an eligible tuition cost.  In contrast, the cost of flying time while not under instruction is not to be so considered even though the fees were paid to a qualifying educational institution. ...

Paragraph 1 of Article ("Article IV(1)") of the Convention would cause the Canadian for incorporated company to be considered a resident of the united States for the purposes of the Convention because the election under paragraph 1504(d) of the Code would come under the "any other criterion of a similar nature" requirement.  ... It does not preclude such a corporation from being considered a Canadian resident under Article IV(3) of the Convention. In summary we are of the view that a Canadian incorporated company, that is deemed resident of Canada pursuant to subsection 250(4) of the Act (i.e., it was incorporated in Canada), will be considered to be resident only in a Canadian for the purposes of the Convention.  ...

However, we do not appear to have yet considered whether the fee that is entitled to the amortized deduction under paragraph 20(1)(e) will be limited and proportionate to the portion of the borrowed funds that are considered to "fill the hole" of capital (as described in the preceding paragraph) or if no proration will apply to such a fee. ... This provision has not been considered often but, in somewhat similar circumstances quite long ago, was decided in favor of the taxpayer. ... Accordingly, it is our view that 105(1) would not be considered favorably as a ground for including a foregone interest benefit in the income of Mr. ...

(rented property) could all be considered deductible as current expenses on account of repairs and maintenance. ... Otherwise, the costs are considered personal and living expenses which are not allowed any deduction under the Act. ... However, the courts have identified a number of factors that should be considered in making such determinations. ...

In the case of a partnership, the employees are considered employees of the partners collectively, but not of any of them individually. ... However, Aco's business would not be considered to be a SIB if Aco satisfies one of the two mentioned conditions. ... Accordingly, for the purpose of determining whether Aco's rental operations are a SIB, Aco is not considered to employ the employees of the partnership of which it is a partner, since such employees are considered to be employed by the partners collectively. ...

It was our conclusion that the total tax paid for the three years that should be considered FAT would be 300/620 of the total tax. The tax paid in year 1 clearly related to Fapi and would be considered FAT. ... Clearly the threshold required for an amount to be considered "paid" is even higher. ...

Since the Entity has not met at least one condition, in our view, it is not considered a religious order for the purpose of paragraph 8(1)(c) of the Act. Accordingly, the Employees cannot be considered to have satisfied the status test, for the purpose of the clergy residence deduction, by being a member of a religious order. ... Hence, the Employees cannot be considered to be appointed by a religious order for the purpose of the clergy residence deduction. ...

He is, therefore, considered to have satisfied the status test. Function test In order to qualify for the deduction, a person who has the required status must also be employed in a qualifying function. ... Chaplains in hospitals, jails, the armed forces and other such organizations are generally considered to minister to congregations. ... For reasons explained above, in our view, the taxpayer is not considered to have satisfied the function test. ...

It is our view that dealers who both sell and lease property of the same kind, will normally be considered to acquire, hold and sell such property as inventory. ... However, our general position is that a property that is subject to a long-term lease that meets the conditions indicated in paragraph 6 of IT-102R2 may be considered as capital property. ... A review of our records for IT-102 indicates that the court cases considered in drafting the bulletin included the following: Sharkey v. ...