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In the Income Tax Folio S5-F2-C1 “Foreign Tax Credit” (footnote 2), it is observed that, where a dividend is received on shares of a corporation, the source of the dividend income should be determined based on the tax residency of the corporation paying the dividend, unless the provisions of a tax treaty sources this payment otherwise: 1.59 [I]n determining a dividend-paying corporation's country of residence for purposes of a foreign tax credit, the possible impact of the following should be considered: the provisions in an income tax treaty (if any) between Canada and the particular foreign country in question, that can determine the corporation's residence for the purposes of the treaty; and subsection 250(5), which (in conjunction with such a treaty) may deem the corporation to be not resident in Canada. ...

“Profit” is not defined in the Act but has been considered by the courts. ...

The person losing the control is considered to have lost the control (disposed of the shares) immediately before the beginning of the day the control is deemed to have been acquired under subsection 256(9) when the election not to apply 256(9) is not made. ...

There is no hard and fast rule as to when expenditures made on capital assets will, and when they will not, be considered to be capital expenditures within the meaning of paragraph 18(1)(b) of the Income Tax Act. ... Turning now to the several matters to be considered, in my view, it is the nature of the advantage to be gained which more than any other feature of the particular situation will point to the proper characterization of the expenditure as one of capital or of revenue expense. ...

In Hickman Motors, the Supreme Court of Canada considered the appropriate characterization of property acquired by a parent corporation as a result of the wind-up of a subsidiary pursuant to subsection 88(1). ...

25 September 2013 Internal T.I. 2013-0476311I7 F- 93(2), 93(2.01)- Share substituted CRA Tags 93(2.01) 248(5)(a) 93(2) Principales Questions: Whether, in two particular situations involving the disposition by a taxpayer of affiliate shares, particular shares might be considered as shares for which the affiliate shares were substituted for the purpose of the determination of element B of the formula in paragraph 93(2.01) Position Adoptée: No. ...

Considering the status of limited partner of the trust, whether the business loss allocated to the trust is considered a business loss? ...

At the option of QCM, QCM may elect on ten (10) days' prior written notice given by it to USS, that interest due on any one or more of these dates shall be added to the principal amount borrowed hereunder, in which event such interest shall not be due and payable on said date but rather shall be thereafter considered part of the unpaid principal amount borrowed hereunder. ...

As a result, the Shareholders of the Company are considered to have disposed of their Shares for proceeds comprising of the shares of Newco received by each of them. ...

The indicia considered by the courts include the following: 1. the intention of the parties; 2. the substance (or principal component) of the contract; 3. the actual and primary role of taxpayer; 4. the subject matter of the transaction (primary versus incidental); and 5. the ownership of the goods. ...