Search - considered

The application of subparagraph 152(4)(a)(i), which allows the Minister to assess or reassess tax, interest or penalties for a taxation year after the taxpayer's normal reassessment period if the taxpayer or the person filing the return has made any misrepresentation attributable to neglect, carelessness or wilful default, should be considered in the circumstances. ...

We also note that the 1999 Department of Finance Technical Notes state that the "notional amount of interest... is not considered to be interest for any purpose of the Act. ...

Additional Comments We have considered pages 9, 10 and 11 of the IRS publication referred to above as well as other comments in that publication. ...

In general, where an employer sets up a trust to administer health and welfare benefits for the employer's employees, the employer's contributions to the trust are considered to be on account of capital and no deduction is available to the employer. ...

Whether retired partners and the estate have a residual interest in the Partnership as set out in subsection 98.1(1) of the Act or receive an allocation of share of income pursuant to subsection 96(1.1) of the Act (e.g. an income interest), it is our view that the filing requirements of paragraph 229(5)(a) of the Regulations are applicable in both cases because retired partners and the estate are not considered members of the Partnership for the purpose of that paragraph. ...

Secondly, having ascertained the residency of individual participants, the residency of the overall "clientele" of the employer must be considered. ...

Outlays in respect of depreciable property would generally be considered to be a non-deductible capital outlay of a taxpayer. ...

In order for a child to be considered wholly dependent on a parent, the parent must be responsible for the usual day-to-day activities of raising the child, such as ensuring the child attends school, preparing regular meals, etc. ...

Generally, if a taxpayer's spouse and dependent children reside in Canada, in a dwelling place that is the family home, then the taxpayer will be considered to be factually resident in Canada. ...

Although the prescribed limits in section 7306 of the Regulations are generally accepted as reasonable, those limits are not considered to define the term "reasonable". ...