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The legislation proposed in Bill C-10 does not include any measures to exclude Canadian entities that are exempt from tax from being solidarily liable or from being considered as a resident contributor or a resident beneficiary. ...

To be considered substantial, it is not necessary that the trade or business be as large as the income-generating activity. ...

(endnote 2) Pursuant to the definition in subsection 142.2(1) of the ITA, property will be considered "tracking property" of a taxpayer if its fair market value is determined primarily by reference to one or several specified criteria in respect of a property (referred to as "tracked property" for the purpose of this paragraph), that would be mark-to-market property of the taxpayer if owned by that taxpayer. ...

The Directorate applied the principles from Degrace in internal technical interpretation E 1999-0013107 which considered the guidelines in ITTN 11 and the level of documentation required in order to have third party payments made by a discretionary trust on behalf of a child beneficiary. ...

The 2016 T3 Guide (T4013) states the following: Certain related amounts, including taxable capital gains and allowable capital losses from that property or the substituted property, are considered to belong to the contributor during the contributor’s life or existence while a resident of Canada. ...

In a case where these amendments would be made in a separate agreement, would this agreement be considered as having terminated or replaced a shareholders' agreement for the purposes of paragraph (a) of the transitional rule? ...

For this reason, the CRA will waive the requirement to file Form T1261 prior to filing notice under section 116 when a disposition results from a distribution from a personal trust, which includes an estate or testamentary trust, of money or property (other than real property) that would have been considered personal-use property of the settlor or deceased taxpayer. ...

Answer: Paragraph 6 of the Diplomatic Note, Annex B reads as follows: For purposes of applying Article XV (Income from Employment) and Article XXIV (Elimination of Double Taxation) of the Convention to income of an individual in connection with the exercise or other disposal (including a deemed exercise or disposal) of an option that was granted to the individual as an employee of a corporation or mutual fund trust to acquire shares or units ("securities") of the employer (which is considered, for the purposes of this Note, to include any related entity) in respect of services rendered or to be rendered by such individual, or in connection with the disposal (including a deemed disposal) of a security acquired under such an option, the following principles shall apply: (a) Subject to subparagraph 6(b) of this Note, the individual shall be deemed to have derived, in respect of employment exercised in a Contracting State, the same proportion of such income that the number of days in the period that begins on he day the option was granted, and that ends on the day the option was exercised or disposed of, on which the individual's principal place of employment for the mployer was situated in that Contracting State is of the total number of days in the period on which the individual was employed by the employer; and (b) Notwithstanding subparagraph 6(a) of this Note, if the competent authorities of both Contracting States agree that the terms of the option were such that the grant of the option will be appropriately treated as transfer of ownership of the securities (e.g., because the options were in-the-money or not subject to a substantial vesting period), then they may agree to attribute income accordingly. ...

Generally, an amount will be considered to have become payable in a taxation year to a beneficiary for purposes of these provisions if, in the circumstances, the amount was paid in the taxation year to the beneficiary or the beneficiary was entitled to enforce payment of the amount in the taxation year. ...

CRA document 2002-017676 provides an in-depth analysis of some of the issues to be considered in determining the nature of an in-trust account. ...