Search - considered

The treatment of a gilt lock (which is the U.K. equivalent of a Canadian bond lock) was considered in 2008-027244 (September 19, 2008). ... The Court in Weston first considered whether the swap was a hedge of anything. ... (GWL) case [citation omitted], which considered the income or capital characterization of the taxpayer’s gains on foreign currency derivatives. ...

However, such equipment would have to be considered individually to see whether it otherwise fits within Class 10. ... CCRA considered the classification of modems in a technical interpretation dated August 19, 1997 Document No. ... CCRA agrees with the XXXXXXXXXX analysis that a server would be considered general-purpose EDP equipment. ...

Position: For the purposes of Part XIII, the gross-up amount would be considered as an interest. ... Our comments When a loan agreement provides for a gross-up of the interest payments, our position is that paragraph 18(1)(t) of the Act does not apply to the gross-up amount and that the gross-up amount may be considered as additional interest for the purpose of paragraph 212(1)(b) of the Act. ... The amount could not be considered as a payment of interest (or as a royalty, as the case may be) for the purpose of Part I and Part XIII. ...

Consequently, any payments out of or under that plan would be considered payments out of or under an RCA for the purpose of determining "eligible pension income" under section 60.03 of the Act subject to the conditions outlined below. ... In this scenario, a total of $94,383 ($65,000 + $29,383) would be considered "eligible pension income" for purposes of section 60.03 of the Act. ... In this scenario, a total of $38,000 ($30,000 + $8,000) would be considered "eligible pension income" for purposes of section 60.03 of the Act. ...

At issue is whether these adjustments would be considered a "tainting transaction". The term "tainting transaction" refers to a transaction or event where it may reasonably be considered that one of the main purposes of the transaction or event was to reduce or avoid the inclusion of an amount to be added in the calculation of the transitional tax debit or increase the amount of the transitional tax credit. ... These actions could be considered an event for purposes of subclauses 46(2)(b)(iv) or (v). ...

Additionally, if XXXXXXXXXX was purchased with the intention to earn a profit, the Corporation may be considered to have profit as a purpose. As stated in paragraph 8 of Interpretation Bulletin, IT-496R "Non-Profit Organizations", an organization may be considered to have a profit purpose, particularly so, where assets representing the accumulated excess are used for purposes unrelated to its objects, such as long-term investments to produce property income. ... As discussed in our document 2011-0409901E5, in our view, consistent with the scheme of the Act and the related jurisprudence, interest income earned by a club, irrespective of source, is considered income from property for the purpose of subsection 149(5). ...

6 March 2015 Internal T.I. 2014-0549761I7- Internally generated goodwill & excluded property CRA Tags 110.6(1) 95(1) 149(10) Principal Issues: Whether internally generated goodwill should be considered in the determination of the excluded property status of shares of a foreign affiliate held by another foreign affiliate? ... Truong: Internally Generated Goodwill & Excluded Property Status We are writing in response to your e-mail dated June 25, 2014 wherein you asked whether internally generated goodwill should be considered in determining whether shares of a foreign affiliate ("FA2") of a corporation resident in Canada qualify as "excluded property", as that term is defined in subsection 95(1) of the Income Tax Act (the "Act"), of another foreign affiliate ("FA1") of the corporation. ... You question, in particular, whether internally generated goodwill, as opposed to purchased goodwill, can be considered property for these purposes. ...

Where the First Nation does qualify, undertaking additional activities, such as the operation of a XXXXXXXXXX, would not preclude the First Nation from being considered a "public body performing a function of government" despite the fact that this particular activity is not considered to be "performing a function of government. ... Where it has been determined that the First Nation has abused the exemption privilege, these factors may also be considered when determining whether to revoke this privilege. ...

., the shares in ULC) and paid tax to the government of the U.S. on income which for U.S. tax purposes is considered to be earned by Taxpayer through LLCs. ... The CRA has previously stated that the U.S. taxes paid by the Canadian resident individual on the allocation of income from a LLC where the individual indirectly holds an interest in the LLC through a corporate entity that is fiscally transparent for U.S. tax purposes (i.e., the ULC) would be considered foreign non-business income tax for purposes of the deduction under subsection 20(12). This position is based on the fact that the U.S. taxes are considered to have been paid by the taxpayer in relation to, or in respect of, the shareholdings of ULC and not in relation to any business carried on by the taxpayer himself. ...

Waugh April 26, 2016 Dear XXXXXXXXXX: Re: One-time transition payment We are writing in response to your email dated December 17, 2015, and our conversation of February 18, 2016 (Waugh/XXXXXXXXXX), concerning whether a one-time transition payment is considered an interest-free loan or salary advance to be included in an employee’s income. ... However, where an employer makes a payment to an employee that is an advance on account of the employee’s future earnings, the amount received is generally not considered to be a loan to which subsection 80.4(1) of the Act applies. ... Based on the information you have provided, it is our view that the TP would likely be considered a salary advance which should be included in the employees’ income in the year it is received. ...