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Position: A number of factors need to be considered in determining whether a particular plan is a SERP or an SDA. ... Accordingly, to determine if a particular arrangement is an SDA, all of the terms of the particular arrangement must be considered. ... What are the CRA's views on whether such plans could be considered salary deferral arrangements (SDAs)? ...

Position: A number of factors need to be considered in determining whether a particular plan is a SERP or an SDA. ... However, the CRA has taken the position that a plan will not be treated as an SDA where the plan has the characteristics of an unregistered or supplementary pension plan and the amounts that may be paid out of or under the plan can be considered to be reasonable superannuation or pension benefits. ... Where a specific arrangement provides benefits that are not the same as those provided under the registered plan, or are greater than those that could be provided under the registered plan (but for the defined benefit or money purchase limit), then the terms of the arrangement and any other relevant information must be considered to determine if the benefits are reasonable in order to ensure that the plan or arrangement will not be considered an SDA. ...

Assume the loan can be considered debt. (3) The loan above is subsequently repaid in full. ... For the purposes of Part A (2), we are to assume that the loan can be considered to be debt. ... Therefore, the repayment of the loan would be considered a transfer of property to the trust from the beneficiary. ...

The Technical Explanation indicates that the U.S. resident is considered to derive the Canadian-source dividends for purposes of the Canada-U.S. Treaty and thus, the dividends are considered as being “paid to” the U.S. resident. ... LLC is not considered for purposes of the application of the Treaty to be a “resident” of the U.S. ...

Reasons: Each class of shares must be considered separately for purposes of satisfying the "regularly traded" test. ... If each class of shares must be considered separately for purposes of satisfying the de minimis or 10-percent tests in the U.S. tax regulations, very few Canadian corporations with multiple classes of voting shares will be considered "qualifying persons" for purposes of the LOB clause. ... CRA Response The CRA is currently of the view that each class of shares must be considered separately for the purposes of satisfying the de minimis and the 10 percent test. ...

Is the US tax paid by the Canadian resident owner of an LLC considered to be foreign accrual tax in respect of the LLC? ... Any amount included in income under subsection 91(1), would be considered income from sources in the US for purposes of subsections 20(11) and 126(1). ... In these circumstances, is the US tax paid by the taxpayer considered to be foreign accrual tax in respect of the LLC? ...

A further factor to be considered in this context is found in paragraph 34 of IT-470R and paragraph 12 of IT-148R2. ... Where access is limited to certain employees the benefit would be considered taxable in their hands. ... In our view, provided that all employees have access to the Municipalities facilities, the passes provided in situation 1 & 2 would not be considered taxable in the employee’s income. ...

Principal Issues: Whether a non-resident corporation can be considered to be resident of a foreign jurisdiction (e.g. ... Generally, a person must be “liable to tax” in a “Contracting State” by virtue of a criterion referred to in the residence article of the relevant Tax Treaty in order to be considered a resident of that foreign jurisdiction for the purposes of the treaty. ... In that particular case, the corporation was considered to be a resident of Singapore for the purposes of the Canada-Singapore Tax Treaty, provided that its central management and control was at all relevant times exercised in that jurisdiction. ...

Would the cash from the dividend be considered substituted property? Scenario 2 Estate transfers the shares of Holdco, on a tax deferred basis, to Newco and takes back high PUC shares of Newco. ... " Paragraph 248(5)(a) states that where there are multiple substitutions the final property held will be considered to be substituted for the original property held. The term substituted property was considered in McLaughlin v. MNR, [1952] CTC 104 (Exch. ...

11 September 2006 Roundtable, 2006-0185601C6- 2006 STEP Conference-Question 17 Unedited CRA Tags 104 248(1) Principal Issues: A bare trust is not recognized for the purpose of the Act because subsection 104(1) of the Act profides that, in situations where the trustee can reasonably be considered to act as agent for all the beneficiaries in respect of all dealings with the trust property and the trust is not a trust described in any of paragraphs (a) to (e.1) of the definition "trust" in subsection 108(1), the arrangement is not considered to be a trust for all but a few purposes of the Act. ... Reasons: Since paragraph (e) of the definition is not one of the provisions for which a bare trust is considered to be a trust, the exceptions in paragraph (e) will not apply to the distribution of the bare trust's property to the contributor-beneficiary. ... In general terms, subsection 104(1) of the Act provides that, in situations where the trustee can reasonably be considered to act as agent for all the beneficiaries in respect of all dealings with the trust property and the trust is not a trust described in any of paragraphs (a) to (e.1) of the definition "trust" in subsection 108(1) of the Act, the arrangement is not considered to be a trust for all but a few purposes of the Act. ...