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In this respect the death benefit would be considered as substituted property. 3. ... As indicated in 2. above the death benefit is considered a substituted property and therefore would have to be held for the remainder of the holding period, if any. 7. ...

" Our Comments With regard to your first question concerning the taxation of the indemnity payments, generally, it is our view, that an indemnity payment of the type referred to above could be considered to have been received as a "reimbursement, contribution, allowance or assistance, whether as a grant, subsidy, forgivable loan, deduction from tax, allowance or any other form of assistance, in respect of the cost of property or in respect of an outlay or expense", as contemplated by the provisions of subparagraph 12(1)(x)(iv) of the Act. ... We note that by virtue of subparagraph 12(1)(x)(viii), paragraph 12(1)(x) only includes an amount received by a taxpayer to the extent that the amount may not be reasonably considered to be a payment made in respect of the acquisition by the payor of an interest in the taxpayer, his business or his property. ...

The total annuity payment received pursuant to a prescribed annuity contract is included in the income of the recipient for tax purposes pursuant to paragraph 56(1)(d) of the Income Tax Act (the "Act") and a deduction is allowed pursuant to paragraph 60(a) of the Act for the portion of that payment which is considered to be a return of capital. ... There will be no requirement to recalculate this proportion to reflect the fact that it is the surviving spouse who is receiving payments as the annuity payments to be received will have been calculated at the time of the purchase of the annuity contract with the ages of both spouses being considered in the calculation of that amount. ...

We are unable to provide a response to this question without a review of the relevant documentation. 4) You have asked whether the transfer of funds from a Non-resident Plan to a Canada Plan would be considered to confer a taxable benefit on the member of the Canada Plan (in-the event the member of the Canada Plan works in the geographic area covered by the Non-Resident Plan). ... To the extent that the Canada Plan provides benefits which are taxable to the employee (such as the payment of provincial health care premiums), the employee would be considered to receive a taxable benefit, We trust our comments will be of assistance to you. ...

Effective January 1985, the corporation for treaty purposes is considered a U.S. resident pursuant to Articles IV(1) and (3) of the Canada-U.S. ... Since XXX was incorporated in the United States and is considered a resident of the United States effective January 1985 for purposes of the Convention, subsection 250(5) of the Act deems the corporation not to be resident in Canada for purposes of the Act. ...

Road building is considered by the industry to be an entirely separate division and a great deal of energy in both manpower and expense is attributed by the industry in their construction. When the industry refers to roads, bridges are considered to be an integral part thereof. ...

Road building is considered by the forestry industry to be an entirely separate division and a great deal of energy in both manpower and expense is attributed by the industry in their construction. When the industry refers to roads, bridges are considered to be an integral part thereof. ...

Road building is considered by the industry to be an entirely separate division and a great deal of energy in both manpower and expense is attributed by the industry in their construction. When the industry refers to roads, bridges are considered to be an integral part thereof. ...

Where there is an expressed intention to develop land and subdivide it into lots for future sale, as in your example, the land is likely to be considered as inventory. ... Subsection 245(4) provides that the rule in subsection 245(2) does not apply to a ransaction where it may reasonable be considered that the transaction would not result directly or indirectly in a misuse of the provision of the Act or an abuse having regard to the provisions of the Act read as a whole. ...

In any case whether or not there is foreign accrual tax is a question of fact, and even though refunded taxes are not considered to be foreign accrual tax, it may be possible depending upon the situation to establish that taxes paid in another year may reasonably be considered to relate to the FAPI income in question. ...