Search - considered

., the payment resulting from the commutation in (f) above) is considered to be an amount that falls within clause 60(1)(v)(C) of the Act, and (i) whether Revenue Canada, Taxation finds the type of arrangement described above to be offensive under any provisions of the Act. ...

Comments It is important to mention at the outset that the Department has always considered that a benefit has been conferred where a corporate property is held solely for the personal use of the, shareholder whether or not the shareholder has advanced the purchase price to the corporation. ...

If it cannot be considered to be any of these, the provisions of section 80 of the Act would apply. ...

The memorandum from your Division has also indicated that for an amount to be considered as a "death benefit" pursuant to the definition of this term in subsection 248(1) of the Act, it must be "in recognition of the employee's service in an office or employment". ...

XXX We met with XXX on August 31 to discuss two significant concerns of ours regarding the tax effects which XXX considered would obtain in the situations you raised. ...

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

The series of transactions could reasonably be considered to be undertaken primarily to obtain such a tax benefit, and would therefore be an avoidance transaction, within the meaning of subsection 245(3) of the Act. ...

We are of the view that this comment is consistent with comments in paragraph 4(c) of IT-128R in which it is stated "Another point that may have to be considered Is whether the expenditure is to repair a part of the property or whether it is to acquire a property that is itself a separate asset". ...

Would these transactions be considered the settlement or extinguishment of a debt or obligation? ...

For this reason, we believe that it would be more appropriate to consider this matter in the context of an advance income tax ruling request wherein all of the facts of a particular situation can be considered. ...