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Position TAKEN: Pursuant to 70(2), deceased taxpayer considered another person whose only income for the year is the value of rights or things as shown on the separate return. ... Pursuant to subsection 70(2) of the Act, the deceased taxpayer is considered to be another person, whose only income for the year is the value of rights or things as shown on the separate return. ...

We asked the Financing and Leasing Section to review the offering memorandum to determine whether the debt as described would be considered a "debenture". It was their opinion that it could be so considered. Given this view and the fact that the investment otherwise meets the conditions of paragraph 4900(1)(i), the debenture would be a qualified investment for the various registered deferred income plans. ...

Reasons FOR POSITION TAKEN: Public Trustee acting on behalf of, as agent for, and for the benefit of the former spouse, so that payments to PT would be considered payments to former spouse. ... The payments would continue to be considered as being for the maintenance of the former spouse and likely dispensed by the Public Trustee for that purpose. ...

As you will see in the attached letter submitted by XXXXXXXXXX In the relation to the above circumstances, part of paragraph 22 of Interpretation Bulletin IT-120R4 "Principal Residence" states that "A legally imposed minimum lot size, for residential use, exceeding 1/2 hectare that was in effect on the date the property was acquired by the taxpayer, is generally considered to be the minimum amount of land necessary for the use and enjoyment of the housing unit as a residence throughout the period that the property is continuously owned by the taxpayer after that acquisition date". ... In addition, the position in the excerpt is not considered to be relevant if, at the time of acquisition, an application could have been made to the municipal authority to subdivide the land into smaller parcels. ...

Additionally, employment with various Federal departments is considered to be a single employment since the employer in each case would be the Treasury Board of Canada. ... A retirement or loss of employment will be considered to have occurred, however, if, at the time of the retirement or loss, there is no agreement by the employer or affiliate to employ the employee at a later time. for Director Financial Industries Division Rulings Directorate Policy and Legislation Branch ...

However, subsection 40(3.16) of the Act describes various circumstances where contributions to, or borrowing by, a partnership will not be considered to be substantial for the purpose of the grandfathering rules in subsection 40(3.15) of the Act. In particular, paragraph 40(3.16)(d) of the Act provides that an amount will be considered not to be substantial where the amount was used for an activity that was carried on by the partnership on February 22, 1994 but not for a significant expansion of the activity nor for the acquisition or production of a film production. ...

We are, however, unable to determine from the limited information provided whether the employer would be considered resident on the reserve in this situation. ... According to these guidelines, in this situation, where the employment duties of the Indian are performed entirely off a reserve, the employment income earned will be tax-exempt only if both the employer is resident (in accordance with the above- mentioned criteria) on a reserve and the Indian lives on the reserve, except where it can reasonably be considered that one of the main purposes for the existence of the employment relationship is to establish a connecting factor between the income in question and a reserve. ...

As the taxpayer is a self-employed businessman, the income derived from fishing is considered exempt if the permanent establishment of his business is located on a reserve (See Interpretation Bulletin IT-62). ... In our view, if in fact XXXXXXXXXX operates his self- employed business of fishing from an office in his home on the reserve, such that the permanent establishment of his business is considered to be on the reserve, then his business income and the related UIC would be tax exempt. ...

These cases highlight the issue of whether dividends, salaries or bonuses paid and credited to the shareholder loan account to repay the balance on the account at the end of the previous year can be considered as part of a series of loans or other transactions and repayments for the purposes of subsection 15(2). These court decisions support the view that bona fide repayments of shareholder loans which are the result of the declaration of dividends, salaries or bonuses should not be considered part of a series of loans or other transactions and repayments for the purposes of paragraphs 15(2)(b) and 20(1)(j). ...

Principal Issues: Whether a contribution to a 401(k) plan could be considered as a foreign holding in a self-directed RRSP plan. ... Middleton 957-2122 953231 401(k) Pension Plan Contributions This is in reply to your fax dated December 7, 1995 concerning Question 12 as to whether a contribution to a 401(k) plan could be considered as a foreign holding in a self-directed RRSP plan. ...