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With respect to the personal guarantees, our position, as outlined in Interpretation Bulletin IT-138R, paragraph 20, is that "any obligations of the partnership guaranteed by a limited partner are not considered to be an addition to partnership "equity". ... A taxpayer required to honour a guarantee is considered to have acquired a debt at the time the guarantee is honoured equal to the amount of the payment made pursuant to the guarantee. ... As stated in paragraph 8, the receiver-manager is considered to be carrying on the same business formerly carried on by the owner unless the facts indicate otherwise. ...

Therefore, if XXXX does not choose the capital treatment his silver certificates would be considered inventory. ... Becoming Canadian Resident When XXXX became a Canadian resident on or about July 1, 1984 the certificates he owned at that time would be considered inventory since he had not chosen the capital treatment. ... As stated in paragraph 15(c) of IT-435R in order to be considered to be "held for sale" the inventory must be offered for sale. ...

Cash or near cash property is considered to be used principally in the business if its withdrawal would destabilize the business. 3. Cash which is temporarily surplus to the needs of the business and is invested in short-term income producing investments could be considered to be used in the business. 4. Cash or near cash which is surplus to the needs of the business over the long term would not generally be considered to be used in the business. 5. ...

The members who participate in this opportunity would be entitled to receive a discount on the final purchase price of their unit equal to XXXXXXXXXX You request our views as to: * Whether the return to the members of the surplus funds, after the completion of construction and the sale of the last unit, could be considered for purposes of subsection 135(7) of the Act a patronage dividend in respect of "consumer goods or services". * The income tax implications relating to; (a) the discounts to the member's purchase price for making additional payments prior to construction or, (b) alternatively, if the participating members received additional shares in the Co-op instead of the discount. ... OUR VIEWS The proposed refund to the unit holders after all units are sold and construction is completed could not be considered payments made pursuant to an "allocation in proportion to patronage" as defined in paragraph 135(4)(a) of the Act, in that the housing units would not be considered to be "goods or products". Since the payments would not be considered to have been made pursuant to an allocation in proportion to patronage subsection 135(7) would not be applicable. ...

2) If the taxpayer is not considered to be living separate and apart from his wife, can he claim his wife as an infirm dependant pursuant to paragraph 118(1)(e)? ... Accordingly, in your particular case, we cannot comment on whether you and your spouse would be considered to be living separate and apart for the 1998 taxation year. However, given the criteria considered by the courts in making such a determination in divorce cases and in the Longchamps case mentioned above, if you and your spouse were, in fact, considered to be living separate and apart throughout the 1998 taxation year, you would not be entitled to claim the spousal tax credit in respect of your wife for that year. ...

Interest income is generated off reserve and is considered to be earned in the economic mainstream and therefore not tax exempt. ... Under the Act, an estate whether testate or intestate, is considered to be a trust and is subject to all the taxation rules which apply to trusts. ... As such income may be generated off the reserve or by non-Indians, it would be considered to be earned in the normal economic mainstream and, accordingly, not considered personal property situated on a reserve. ...

The evidence also established that the trip was predominantly of a business nature and consequently the benefit was considered not taxable. ... The value is considered to be a benefit received by virtue of his employment. ... As mentioned previously, where each individual is to be assessed a taxable benefit that individual's particular circumstances should be considered. ...

The conveyor belt used to transport the raw material form the primary crusher to the secondary crusher will not be considered to be used in a processing takes place is not considered an eligible activity (per paragraph 28 of IT-145R).  ... The decision reached in the former case, that assets which were permanently affixed to concrete pads and supports were considered structures referred to in class 3, appears to be the reason that the current wording in class 8(a) was created.  ... M.N.R., 58 DTC 316, the courts considered the concept of movable equipment.  ...

T-SLIP The CI payments are considered farm support payments and a T-Slip will be required. ... T-SLIPS The research grants are not considered farm support payments. ... T-SLIPS The payment is not considered a farm support payment and T- Slips will not be required. ...

Shea-DesRosiers (613) 957-8953 August 24, 1989 Dear Sirs: Re: Phantom Stock Plan This is in reply to your letter of July 5, 1989 wherein you request out opinion as to whether the phantom stock plan described in your letter might be considered a salary deferral arrangement. As stated at he 1988 Canadian Tax Foundation Conference, it is the Department's current position that where, on a specified date, the value of the phantom shares on that date will be paid to the employee, the plan will be considered a salary deferral arrangement, notwithstanding that the value on the payment date may be less than the value at the time such shares were granted. ...