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Therefore, the corporation would be considered a public corporation as of the date of issue of the shares which, if held by an RRSP, will be considered to be qualified investments. These shares would also be considered to be qualified investments for any other deferred income plans which define shares of a public corporation as a "qualified investment" for purposes of the Act. ...

Is equipment considered to be "available for use" for purposes of draft subsection 13(27) of the Income Tax Act (the "Act") in the following two situations? ... In the first situation, the equipment could be considered to become "available for use" in the particular taxation year by virtue of draft paragraph 13(27)(a) of the Act since the equipment was in fact used for the first time in that year in accordance with its intended purpose. In the second situation, the equipment could be considered to become "available for use" in the particular taxation year by virtue of draft paragraph 13(27)(d) of the Act since the time that it was capable of being used for its intended purpose preceded the time when it was first used. ...

Our position is unchanged from that stated in the February 21, 1983 letter in which we opined that a corporation deriving its income primarily from the provision of services would not be considered a "principal business corporation" within the meaning of paragraph 66(15)(h) of the Act, notwithstanding that the services provided are in respect of activities described therein. ... The determination would be one of fact which must be considered by reference to the various activities in which the corporation is engaged. All activities of the corporation throughout the relevant taxation year must be considered. ...

You also asked whether specific rehabilitation expenses such as specially equipped cars, computers, tuition fees, and books paid by the insurance carrier would be considered taxable benefits to the claimants. You were of the opinion that these expenses should be considered taxable or non-taxable in accordance with the taxability of the wage loss plans involved. ... It is a question of fact whether a wage loss replacement plan providing such benefits would be considered one of the types of plans mentioned in subparagraph 6(l)(f)(iii) of the Income Tax Act. ...

Reporting of news, preparation of copy of advertisements, photographs and art work, and editing are also considered qualified activities provided that the physical activities of manufacturing a newspaper are carried out by the taxpayer. ... However, the outcome and rationale for the decisions made in these cases is considered by the Department to have restricted application to similar businesses in the oil well service industry. ... The basis for the position in paragraph 44 ofallowing most of the activities performed in connection with publication of a newspaper to be considered qualifying activities arose as a result of the Department losing the court case The St. ...

Although there have been several cases in which the courts have considered, in the context of the association rules, whether a corporation was controlled by a group of persons, we are not aware of any case in which a court has considered whether control of a corporation had been acquired by a group of persons. ... We are not aware of any case in which a court has considered whether a person had 256(5.1) effective control of a corporation. ... XXX (4) As you have noted, in its Explanatory Notes to Bill C-139, the Department of Finance indicated that it considered 256(5.1) control to exist "in a situation where a person held 49% of the voting control of a corporation and the balance was widely dispersed among many employees of the corporation or was held by persons who could reasonably be considered to act in respect of the corporation in accordance with his wishes". ...

Reporting of news, preparation of copy of advertisements, photographs and art work, and editing are also considered qualified activities provided that the physical activities of manufacturing a newspaper are carried out by the taxpayer. ... However, the outcome and rationale for the decisions made in these cases is considered by the Department to have restricted application to similar businesses in the oil well service industry. ... The basis for the position in paragraph 44 of IT-145R allowing most of the activities performed in connection with publication of a newspaper to be considered qualifying activities arose as a result of the Department losing the court case The St. ...

Presumably if there is no declaration of dividends and no resolution to reduce the PUC of the shares, the amounts distributed to a shareholder must be considered to be proceeds of disposition of the shares. ... Such an interpretation would give rise to anomalies such as whether FAPI earned by the affiliate in the time following the initial distributions could be considered to relate to shares "owned" by the taxpayer for the purposes of subsection 91(1) (i.e. if the shares were considered to disposed of prior to that time). ... Since the ACT is not computed on the basis of the foreign affiliate's income or profits, it is the Department's position that it should not be considered an "income or profits tax" for the purposes of the Income Tax Act. ...

However, clause 23l(6)(b)(ii) of the Regulations states that a “prescribed benefit” includes a revenue guarantee to the extent that the revenue guarantee may reasonably `be considered to ensure that the investor will receive a return of all or a portion of the investor's outlays in respect of the tax shelter. ... It is a question of fact whether a mortgage guarantee will be considered to be a “prescribed benefit”. Subsection 231(6) of the Regulations indicates that where a guarantee exists and it may reasonably be expected that the amount covered by the guarantee would have the effect of reducing the impact of any loss that the investor may sustain, the guarantee will be considered to be a “prescribed benefit”. ...

An individual will be considered a resident of Canada when he is either a factual or deemed resident of Canada. ... Due to the temporary nature of your stay in Canada, you may be considered a resident of both Canada and the U.K.. ... Income tax deductions withheld at source do not represent a definitive tax but rather the withholding is considered a payment on account of your overall tax liability. ...