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Therefore, the stock dividend cannot reasonably be considered to have been undertaken for any purpose other than to obtain the tax benefit that results from the above series of transactions. ... The Court applied former s. 55(1) of the Act, which provided: '55. (1) Avoidance- For the purposes of this subdivision, where the result of one or more sales, exchanges, declarations of trust, or other transactions of any kind whatever is that a taxpayer has disposed of property under circumstances such that he may reasonably be considered to have artificially or unduly (a) reduced the amount of his gain from the disposition, (b) created a loss from the disposition, or (c) increased the amount of his loss from the disposition, the taxpayer's gain or loss, as the case may be, from the disposition of the property shall be computed as if such reduction, creation or increase, as the case may be, had not occurred.' This provision was repealed in conjunction with the introduction of GAAR in 1988. ...

Principal Issues: Can the distributions from a trust to a beneficiary who is both an income and capital beneficiary be considered to be a distribution of income to the extent of the trust's income for the year? ... Presumably the company is resident in XXXXXXXXXX such that prima facie, the Trust is considered resident in XXXXXXXXXX. ...

With regard to the payor corporation in the above situation, as a result of a valid election under subsection 184(3) of the Act being made, an "excess" subject to tax under Part III of the Act will no longer exist with respect to the election under subsection 83(2) of the Act [pursuant to paragraph 184(3)(a) of the Act], and a taxable dividend in an amount equal to the Excess will be considered to have become payable at the time the dividend in question originally became payable [pursuant to paragraph 184(3)(c) of the Act]. ... As a result of the election under subsection 184(3) of the Act, the question also arises as to whether adjustments may be made to the payor corporation to reallocate the taxable dividend considered to have become payable in relation to the Excess for purposes of the "dividend refund" [as defined in paragraph 129(1)(a) of the Act]. ...

However, even if the evidence that you may discover supports two separate transactions, it is our position that the general anti-avoidance rule could be considered to challenge the transactions in this situation. ... At the same time, the GAAR Committee considered a similar request (2002-17627) concerning proposed transactions submitted by XXXXXXXXXX. ...

When a scholarship or bursary is received by status Indians, paragraph 81(1)(a) of the Act and section 87 of the Indian Act may provide a tax exemption if the income is considered an Indian's personal property situated on a reserve. ... Whether post-secondary education assistance paid is considered exempt or not from income tax does not affect the reporting requirements under paragraph 200(2)(a) of the Regulations. ...

It is considered to be a provincial income or profits tax because it is incurred after profits have been earned and calculated in accordance with provincial legislation. ... Taxes on income are not considered to be laid out for the purpose of gaining or producing income, as supported by several court cases including the recent decision of the B.C. ...

Consequently, a taxpayer holding both deferral and non-deferral securities will be considered to have disposed of the non-deferral securities first. ... The averaging occurred because the partial disposition of identical properties were considered to be prorata from the identical properties with the 53(1)(j) bump and the identical properties without the 53(1)(j) bump. ...

We would also note that one of the criteria generally considered by the courts, in determining whether to grant a retroactive rectification, is the intention of the parties at the time of the original agreement. ... I cannot accept the implication that the holding company should be considered in law and in fact to have acquired the F. ...

The reimbursement of any personal expense of an employee, by an employer, including mortgage interest, is considered to be a benefit received by the employee. Accordingly, the mortgage interest subsidy included in the last monthly pay of a particular employee would be considered to be a taxable benefit to the employee. ...

Amounts paid for the XXXXXXXXXX Preparation Course can be considered "tuition" as this word is used in the midamble of paragraph 118.5(1)(a) of the Act; 4. ... Appendix A In Friedland, the Court considered the meaning of the following words used in section 118.5 of the Act: educational institution "The Oxford English Dictionary defines "education" as: 3. the systematic instruction, schooling or training given to the young in preparation for the work of life; by extension similar instruction or training obtained in adult age. ...