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We understand that to the best of your knowledge and that of XXXX officials, none of the issues involved in this opinion request is being considered by a District Office or a Taxation Centre in connection with a tax return already filed, and none of the issues is under appeal or objection. ...

Your specific enquiry is whether, in the situation described above, X Co will be considered to have two taxation years both ending on April 30, 1990 or just one such year-end. ...

The opinions expressed herein are not advance income tax rulings and, in accordance with paragraph 24 of Information Circular 70-6R dated December 18, 1978, are not considered binding on the Department. ...

Specifically, you have asked us to confirm that a return of capital on a class of shares of a foreign affiliate would not be considered a "distribution" for purposes of Regulation 5904(2)(a). ...

A trust is generally considered to reside where the trustee, executor, administrator, heir or other legal representative who manages the trust or controls the trust assets resides. ...

You have expressed the view that the retainer should be included in income by virtue of Section 9 of the Income Tax Act if it can be determined that the 24(1) can be considered as carrying on a business for profit or with a reasonable expectation of profit. ...

The foregoing represents our considered opinion of the law as it applies generally, but this is not a ruling and is not binding upon the Department. ...

You asked us to confirm, if it is still our view that certain temporary advances 24(1) to their employees are not considered to be "otherwise incurring a debt" within the meaning of section 80.4 of the Act. 24(1) Your attached to your memorandum copies of two letters from the Chief of Source Deductions from the Toronto District Office indicating that discussions had taken place with (then) Non-Corporate Rulings Division concerning this issue and that it was our view that the advances are not viewed as "otherwise incurring a debt" within the meaning of section 80.4 of the Act but, rather, are benefits brought into income pursuant to paragraph 6(1)(a) of the Act. ...

This rule requires the determination of whether or not in fact it may reasonably be considered that one of the main reasons for the loan was to reduce or avoid tax by causing income from the property or property substituted therefor to be included in the income of another individual. ...

Concerning your comments about a statement made by us to your firm that "a plan will not be considered to be an employee pay-all plan for those employees who must make all the contributions for themselves if the employer is making contributions on behalf of their employees covered by the same plan", we offer the following comments. ...