Search - considered

This means that where a capital property has not been acquired for the purpose of gaining or producing income, the taxpayer would not be entitled to any CCA deduction under paragraph 20(1)(a) as the property would not be considered depreciable property for purposes of the Act. ... " As explained in paragraph 14 of IT-478R2, the reference to "total depreciation allowed" in paragraph 3(a) of the Bulletin is considered to be a reference to the amount of CCA actually deducted and allowed on assessment in computing the taxpayer's income. ...

Subsection 103(1) of the Act applies where the principal reason for an agreement to allocate each member's share of income, loss or other amount may reasonably be considered to be the reduction or postponement of the tax that might otherwise have been or become payable under the Act. ... The Queen, 2013 DTC 1245, [2013 TCC 310] which contains a discussion of the object and spirit of the debt parking rules and supports the application of GAAR in a situation where the debt parking rules in subsections 80.01(6) to (8) were considered to have been misused or abused. ...

/ If the activity is considered a business, can we deduct the full amount of car expenses? ... / Are the travel expenses considered personal expenses? 5) S’il est établi qu’il s’agit plutôt d’un passe-temps: / If the activity qualify as a hobby: a) comment doit-on procéder pour les T4A produits par les payeurs? ...

We note that since 2010 Rulings has considered a number of situations involving XXXXXXXXXX MRPS. ... In this case we have assumed that the MRPS are considered to be equity for XXXXXXXXXX corporate, bankruptcy and private law purposes. ...

The individual considered himself to have ceased to be resident in Canada at the time he left Canada and not a resident of Canada during his overseas assignment. 2. ... Based on that subsection, we agree with your view that the assessment with respect to the return filed under subsection 216(1) of the Act must be considered valid and binding despite the fact that the taxpayer was resident in Canada at all relevant times and was not entitled to file the return under subsection 216(1). ...

Key definitions for our review include: XXXXXXXXXX We also considered the following provisions of the Agreement: XXXXXXXXXX OUR COMMENTS Overview In general terms, paragraph 149(1)(l) of the Act provides that the taxable income of an organization is exempt from tax under Part I of the Act for a period throughout which the organization meets all of the following conditions: it is a club, society or association; it is not a charity; it is organized and operated exclusively for social welfare, civic improvement, pleasure, recreation or any other purpose except profit; and its income is not available for the personal benefit of a member or shareholder, unless the member or shareholder is an association which has as its primary purpose and function the promotion of amateur athletics in Canada. ... As explained in Policy Statement CPS-020 for "Applicants that are Established to Relieve Poverty by Providing Rental Housing for Low-Income Tenants", the Charities Directorate has determined that, on the basis of the Act and the common law, certain low-income housing organizations may be considered to be established for the purpose of relieving poverty and are eligible for registration. ...

In our view, a formal conveyance of the Property was required for there to be a distribution to the three Trusts for the purposes of subsection 107(2.001), and for the three Trusts to be considered to have disposed of their capital interest in the Estate. ... In light of the foregoing, we believe that there was no distribution of the Property by the Estate to the Trusts in XXXXXXXXXX, there was no disposition by the Trusts of their capital interest in the Estate and, accordingly, the capital loss realized by the Estate on the disposition of the Property cannot be considered to be the loss of the Deceased taxpayer pursuant to subsection 164(6) of the Act. ...

The weighted average rate for which the income itself was earned or the rate as of the date of actual payment would both be considered acceptable for converting the amount of foreign income-taxes paid for the purposes of determining a foreign tax credit in subsection 126(2) of the Act. ... " De plus, le juge de première instance, au point 9 de ses considérations, déclare ce qui suit: "When section 126(1)(a) is considered by itself or in isolation and without taking into account normal accounting practices or any other factors, it would seem to be more natural and normal to calculate the value of the tax in Canadian dollars at the rate of exchange in effect at the date of payment, although there is nothing in the sections which actually requires this ". ...

The CRA’s Folio S3-F6-C1 “Interest deductibility”, states that an amount is considered to be interest if, in general terms: (a) it represents compensation for the use of money; (b) it is referable to a principle sum; and (c) it accrues day-to-day. ... We also considered subsection 214(15) of the Act which provides: “For the purposes of this Part, (a) where a non-resident person has entered into an agreement under the terms of which the non-resident person agrees to guarantee the repayment, in whole or in part, of the principal amount of a bond, debenture, bill, note, mortgage, hypothecary claim or similar obligation of a person resident in Canada, any amount paid or credited as consideration for the guarantee is deemed to be a payment of interest on that obligation; and (b) where a non-resident person has entered into an agreement under the terms of which the non-resident person agrees to lend money, or to make money available, to a person resident in Canada, any amount paid or credited as consideration for so agreeing to lend money or to make money available shall, if the non-resident person would be liable to tax under this Part in respect of interest payable on any obligation issued under the terms of the agreement on the date it was entered into, be deemed to be a payment of interest.” ...

However, the right to reduce the Interest Debt would be considered a "right to reduce" since it may reasonably be concluded at the end of XXXXXXXXXX, having regard to the circumstances, that the right to reduce would become exercisable. ... Thus, a right may be considered a “right to reduce,” if it is reasonable to conclude, having regard to all the circumstances, that the right will become “capable of being made effective in action” or “capable of being implemented.” ...