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As a result, where the real property is both situated in Canada and outside Canada, the proportion of the supply of the intangible personal property that relates to the real property that is situated in Canada is considered to be made in Canada, while the proportion of the supply of the intangible personal property that relates to the real property that is situated outside Canada is considered to be made outside Canada. ...

Income Tax Folio S3-F1-C1, Shareholder Loans and Debts, April 10, 2025-- summary under Subsection 15(2.3) Summary Under Tax Topics- Income Tax Act- Section 15- Subsection 15(2.3) Ordinary course exception 1.28 The exception in S. 15(2.3) can apply where the debtor or borrower is a shareholder or a shareholder employee. 1.30 A lender is generally not considered to be in the ordinary business of lending money where the lender issues loans for the purpose of an occasional investment of surplus funds, to make accommodations to friends or customers, or to make advances that are intended to remain a part of the capital of a borrower. 1.33 A trade debt is considered to arise in the ordinary course of a creditor's business, where it arose from the sale of goods or services by the creditor to a debtor, and the payment terms are the same as those provided on sales to other customers of the creditor. ...

28 May 2025 IFA Roundtable, Q.3-- summary under Subsection 15(2.6); Subsection 15(2.6) Summary Under Tax Topics- Income Tax Act- Section 15- Subsection 15(2.6) frequent anticipated payments and repayments occurring in a cross-border physical or notional cash-pooling arrangement likely would be a s. 15(2.6) series Summary Under Tax Topics- Income Tax Act- Section 15- Subsection 15(2.6) frequent anticipated payments and repayments occurring in a cross-border physical or notional cash-pooling arrangement likely would be a s. 15(2.6) series In the course of discussion of a physical, then a notional cash-pooling arrangement between a Canadian company and affiliated foreign companies, CRA indicated that: the automatic cash sweeps that occur as part of a physical cash-pooling arrangement would likely be considered to form part of the series described in s. 15(2.6), which would render the s. 15(2.6) exception unavailable (so that withholding under s. 214(3)(a) would not be refunded). similarly, the anticipated frequent and ongoing movements in the account balances of participants to a notional cash-pooling arrangement would likely be considered to form part of a series of loans, repayments, and other transactions. ...

Vacant land that is capital property used by its owner for the purpose of gaining or producing income will be considered to have been converted to inventory at the earlier of (a) the time when the owner commences or causes the commencement of improvements thereto with a view to selling it, and (b) the time of making application to the relevant authority for approval of a plan to subdivide the land into lots for sale, provided that the taxpayer proceeds with the development of the subdivision. 13. The units in a multi-unit residential apartment, or an office, warehouse storage building or any similar structure that is held as capital property by the owner will be considered to have been converted to inventory at the time when application is made to the relevant authority for approval to change the title to any such building to strata title, provided that the owner proceeds with the sale of the units. ... However, where the taxpayer goes beyond mere subdivision of the land into lots and installs improvements such as watermains, sewers or roads, or carries on an extensive advertising campaign to sell the lots, the taxpayer will be considered to have converted the land from a capital property into a trading property. ...

(a) Can Aco now make a voluntary disclosure in light of para. 30 of GST/HST Memorandum 16-5, which indicates that a VDP application will not be considered voluntary if, “enforcement action … relating to the subject matter of the VDP application has been initiated … against a third party, where the purpose and impact of the enforcement action against the third party are sufficiently related to the present application”? CRA responded: [I]f Aco and Sco are not related, the application from Aco would likely be considered under VDP. Conversely, if Aco and Sco are related companies, Aco’s application would not be considered as voluntary due to the prior enforcement action (audit) that was conducted against Sco that identified the subject matter of Aco’s VDP application. ...

For example, provincial tax credits earned on the same qualifying labour expenditure would generally be considered assistance. ... While the Canadian journalism labour tax credit of a qualifying journalism organization is considered to be assistance that the organization received from a government immediately before the end of the year, it is not considered to be government assistance in the calculation of the qualifying labour expenditure for the purposes of determining the Canadian journalism labour tax credit itself. ...

c) If this constitutes construction of a residential complex, would 5, or only the 1 additional unit, be considered to be constructed? ... After indicating that under the definition of the term, “only intention is required for there to be a residential condominium unit,” CRA stated that [w]here there is an intention to create residential condominium units in a building, the CRA would determine separately whether each residential condominium unit was constructed or substantially renovated for purposes of subsection 191(1) of the ETA, rather than whether the MURC as a whole was constructed or substantially renovated for purposes of subsection 191(3) of the ETA. b) CRA stated: Whether the conversion of a MURC into residential condominium units constitutes “construction” or a substantial renovation of a residential condominium unit does not depend on whether there is a change in the number of units, but rather on the work performed on a particular residential condominium unit in the condominium complex. … A substantial renovation is generally considered to have taken place where all or substantially all of the interior of a residential condominium unit has been removed or replaced and, upon completion, the renovated or altered unit is, or forms part of, a residential complex. c) CRA stated: Where a conversion occurs, the number of units the person is considered to have constructed or substantially renovated is a question of fact that depends on the work performed on each individual unit. d) CRA indicated that the only exemptions from the self-assessment rule in s. 191(1) were those in ss. 191(5) to (7). ...

However, a bare trust for income tax purposes is a trust arrangement under which the trustee can reasonably be considered to act as agent for all the beneficiaries under the trust with respect to all dealings with all of the trust's property. A trustee can reasonably be considered to act as agent for a beneficiary when the trustee has no significant powers or responsibilities, the trustee can take no action without instructions from that beneficiary and the trustee’s only function is to hold legal title to the property. In order for the trustee to be considered as the agent for all the beneficiaries of a trust, it would generally be necessary for the trust to consult and take instructions from each and every beneficiary with respect to all dealings with all of the trust property. ...

You are considered to have made a taxable sale of the property on July 1, 2016, and to have collected the GST on the sale equal to the basic tax content of the property on July 2, 2016. You are also considered to have repurchased the property and to have paid the GST on that purchase on July 2, 2016. ... You calculate your ITC for the tax you are considered to have paid on the repurchase of the property when the election takes effect, which is based on the basic tax content of the property, as follows: ITC = $7,500 × 30% (use in commercial activities) = $2,250 In addition, since you are considered to have made a taxable sale of the property, you can claim an ITC for $7,500 (which is equal to the basic tax content of the property) to recover the GST that you paid, or that was payable, on your last acquisition of the property that you could not previously recover where all of the other conditions for claiming an ITC are met. ...

The issue of whether or not an individual's activities are such that he or she can be considered to be carrying on a gambling business is a question of fact that can be determined only by an examination of all of the circumstances and the taxpayer's entire course of conduct. Although no one factor may be conclusive, the following criteria should be considered in making the determination: (a) the degree of organization that is present in the pursuit of this activity by the taxpayer, (b) the existence of special knowledge or inside information that enables the taxpayer to reduce the element of chance, (c) the taxpayer's intention to gamble for pleasure as compared with any intention to gamble for profit as a means of gaining a livelihood, and (d) the extent of the taxpayer's gambling activities, including the number and frequency of bets. ...