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Where the conditions set out in paragraph 6 of this Bulletin are satisfied, even where a guarantee is given for no consideration, payments on the guarantee (covering both principal and interest) which are subsequently considered bad debts will give rise to deductible capital losses due to the application of subsection 50(1) of the Act and the administrative non-application of subparagraph 40(2)(g)(ii) of the Act. These capital losses may be considered business investment losses pursuant to paragraph 39(1)(c) of the Act. ...

However, borrowed funds would not be considered to be invested in a partnership if they are immediately withdrawn. 10. ... In our opinion, if the transactions referred to in 2 above were in fact made on or about the same date and the withdrawn money was used for personal purposes, we would have a respectable argument that the borrowed money old not be considered to be invested in a partnership and therefore 19(1) should not be allowed to deduct the interest expense referred to in 3 above pursuant to paragraph 20(1)(c) of the Act. ...

Such a fee will be considered incurred when the mortgage broker bills for same and consequently the investor becomes liable to pay same to the broker. ... A fee to the investor for such "buy down" of interest rates is considered a payment on account of interest, deductible over the period of the "buy down", pursuant to the provisions of paragraph 20(1)(c) of the Act. ...

Under these circumstances, we are of the view that such loans could be considered to be received by virtue of the office or employment and would therefore be subject to subsection 80.4(1) of the Act. ... The foregoing represents our considered opinion concerning the issues raised in your inquiry, but this is not a ruling and is not binding upon the Department. ...

Any refinancing or repayment of debt in contemplation of a butterfly may be considered to be an acquisition of property which alters the mix of properties and offends the prohibition in paragraph 55(3)(b) of the Act. ... Advances to other corporations within a corporate group are generally considered to be cash or near cash assets. ...

Crude Oil Windfall Profits Tax would, prima facie, not be considered an "income or profits tax" for the purposes 'of subsection 20(11) or paragraph 126(7)(c) of the Act. ... In such situations, although the royalty owner receives a cheque for a net amount (i.e., his share of production less relevant withholding and severance taxes), his gross royalty is considered to be his share of production. ...

Registered Canadian political parties are however generally considered to be non-profit organizations (NPO) for purposes of the Act. ... For instance the recipients might be considered an employee of the Party with the onus on the Party to issue a T4 slip. ...

The reason given for this conclusion was that additions and alterations related to a building are considered to be included under the exclusion for acquisition expenditures in subsection 37(7)(f)(i) of the Act. ... As the company owns the $150,000 building, it must have acquired the $150,000 building and the $100,000 in additions and alterations must be considered to have been capital expenditures made in respect of the acquisition of that $150,000 building. ...

If the payment does not meet the conditions of a retiring allowance the amount would likely be considered either employment income or a pension benefit, if paid out of or under a superannuation or pension fund. However, depending on the purpose of the payment and the arrangements made to fund the payment, the amount could also be considered as a payment out of or under a salary deferral arrangement or a retirement compensation arrangement, and be taxed accordingly. ...

You have requested our opinion as to whether or not, the employee in this situation, would be considered to have "maintained and resided in a self-contained domestic establishment" for purposes of clause 110.7(l)(e)(ii)(A) of the Act. Provided that the employee, in this situation, meets the basic requirements set out in the preamble to subsection 110.7(1) of the Act, it is our opinion that the employee would be considered to have "maintained and resided in a self-contained domestic establishment" and would be entitled to the deduction described in clause 110.7(l)(e)(ii)(A) of the Act, subject to the other limitations in paragraph 110.7(l)(e) of the Act. ...