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Generally, where borrowed funds are used in the ordinary course of a taxpayer's business operations, any foreign exchange gain realized on the repayment of the loan is considered to be an income gain and any foreign exchange loss incurred on repayment of the loan is considered to be an income loss. ...

You have also considered technical interpretations issued regarding the issue of "beneficial ownership". ... It is plausible, in certain fact situations, that the payment of residential maintenance costs (i.e., property taxes, utilities and maintenance) could be considered as payment in lieu of rent by a tenant to a landlord. ...

We understand that for GST purposes, the subsequent invoice issued by the supplier to recover the previously unbilled GST is considered part of the initial invoice on the taxable supply such that the total receivable is considered to be $1,050. ...

For purposes of this letter, however, we have assumed that the settlement fund is not a trust, or that the payout from the settlement can be considered received by the group of shareholders notwithstanding the funds were used to settle a trust. ... The courts have said that damages must be considered in light of the purpose and the effect of the action in which they were awarded (CNR v The Queen 88 DTC 6340). ...

Position: Question of fact- general comments provided Reasons: Pertinent issues that may be considered have been addressed in the response. ... The provision was not intended to allow the deduction of amounts which were unreasonable in the circumstances and which would be considered unreasonable if paid in full by any employer to the RCA. ...

Is the court order considered to be a court order made after April 1997? ... Position: Yes, the court order dated XXXXXXXXXX, is considered to be a court order made after April 1997 and paragraph (a) of the definition of “commencement day” in subsection 56.1(4) applies. ...

Unless the taxpayer can elect under subsection 85(1) at his ACB, which would likely only be considered where there is no recapture or the recapture is nominal, subsection 85(1) should not be considered for the same reasons as explained above (ie. the benefits of the CGD election will effectively be lost where the taxpayer does not choose an agreed amount in his subsection 85(1) rollover that is equal to the amount designated in the CGD election). ...

" For amounts to be considered "rights or things" pursuant to subsection 70(2), the deceased must have had a clear right to the amounts at the time of death. ... This supports the argument that the Payment can be considered a "right or thing. ...

In short, while we have carefully considered the various arguments raised by XXXXXXXXXX in their submission, there is nothing contained in that submission that has caused us to change our view that the lag-to-liquidation method used by them is anything but a general reserve that is not deductible under subparagraph 20(1)(l)(ii) of the Act. ... The taxpayer also indicates in their submission that where doubtful loans, based on payment arrears, are included in a pool as provided by paragraph 8000(b) of the Regulations such a pool may contain certain loans that if a detailed loan-by-loan analysis was performed they may not be considered “doubtful” in accordance with the stricter guidelines set down by the courts. ...

Consolidated Mogul Mines Limited (now called "Mogul Mines Limited"), 68 DTC 5284: «It may be said generally that although the source of income of a corporation is an important element to be considered in determining which is its principal business it is not the only matter to be considered and not necessarily the determinant factor.» ...