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You have also asked whether there would be considered to be a change in use or conversion of capital property to inventory during the process of obtaining approval for the severance of lands. ... Corporations are considered to be associated if they meet any of the criteria set out in section 256 of the Act as amended by Bill C-139. Based on the facts as set out in your letter it would appear that none of the corporations established would be considered associated, as that term is defined in the Act. ...

Is the piece which is ready to operate considered to be available for use? ... Is the equipment in the second group considered available for use? 3. ... Under the fifth scenario you asked if the computer or the software are considered to be available for use? ...

While, in these circumstances, the sub-leasing revenue would be considered from the operation of ships, in any case where the sub-time chartering activity constitutes a separate business the revenue therefrom would not be considered to be from the operation of ships. ... Again, the vessel would still be considered risked or employed in the corporation's integrated shipping business. ... Income from shipbroking will not be considered income from the operation of ships. ...

Our Comments If the participating interest is considered as a distribution of profits, then the interest payment by a taxpayer is not a deductible expense. If the participating interest is considered as an expense of doing business, then the interest payment by a taxpayer may be considered as a deductible expense. ... Similarly, if the circumstances of the situation can be considered to have normal commercial terms, is not guaranteed by the general partner or the partnership and the "lender" has full recourse, the at-risk amount would not be reduced and its features would not be considered to be a prescribed benefit. ...

However, at this time we are interested in obtaining an expert opinion on what the meaning of the word periodical is considered to be in the publication industry. ... Therefore, we are requesting your comments on whether the enclosed XXX described above would be considered to be a periodical by the publishing industry. In addition, we are requesting a general definition or general guidelines as to the type of publication that would be considered a periodical. ...

Paragraph 8 of IC76-12R3 states: "(u)nder most conventions, however, the business profits provisions are considered to encompass reasonable management fees and to exempt them from Part XIII tax unless a specific article provides otherwise. ... B) If not considered part of business profits, no withholding would apply to situations contemplated by paragraphs 212(4)(a) and (b) of the Act. ... Assuming that the management fee is reasonable and it cannot be considered a royalty or similar payment, can you give us the Department's opinion as to when management fees received by a non-resident would not be considered to form part of that non-resident's business profits. ...

Each insured employee is considered to have a life insurance policy with the plan's insurer. ... For the purposes of paragraph 12.2(3)(e) of the Act, the surviving spouse/beneficiary is considered to be the policyholder and is considered to have received the proceeds of the life insurance policy in the form of an annuity contract. 3. ... Upon remarriage, the annuitant will be considered to have disposed of her/his interest in the annuity contract for proceeds equal to the amount of the dowry benefit. ...

Therefore. income from such investments would be considered to pertain to or be incident to that business. ... Rather such funds would be considered as permanently set aside for non- qualified uses (i.e. uses other than in an active business). The income from such investments would not be considered to pertain to or be incident to an active business. ...

You ask if the price specified in the agreement for the trees would be considered inventory for the purposes of the Mandatory Inventory Adjustment (MIA) under paragraph 28(1)(c) of the Act. ... IT-433 states in essence that Christmas tree growing is considered a farming business. ... The cost of replacement plants or trees is considered to be a deductible expense. ...

Answer In our view, the fact that the appropriate withholding taxes are not paid may be viewed as an indication that there is no such agreement between the corporation and the shareholder and the amount may not be considered paid. If however it is clear from the facts that the amount is considered paid by both parties and if the requisite preconditions previously described are met, then the bonus will normally be considered paid by the corporation and received by the individual. ... Question 3 If the corporation credits the gross amount of the bonus to the employee/ shareholder's loan account and no withholding taxes are subsequently paid, is the bonus considered to be paid for purposes of subsection 78(4)? ...