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The Plan and the Addendum are considered an arrangement in writing between Opco and the Director under the terms of the Plan. ...

Since, in our view, these costs are deductible under paragraph 20(1)(cc) of the Act, it is not necessary to consider if the advance ruling costs should form part of the disposition cost The deduction of advance ruling costs is considered consistence with the policy purpose of the advance ruling, i.e., to encourage voluntary compliance. ...

In such circumstances it is possible that either the policy would be considered to have been last acquired after December 1, 1982 or the rules in subsection 12.2(9) would have application. ...

For example, subsection 110.6(7) of the Act may apply, depending on the facts of a particular situation, to deny a capital gains deduction claimed by a shareholder who is an individual in respect of the capital gain realized as a result of the application of paragraph 69(1)(b) of the Act because the corporation could be considered to have acquired its own shares for consideration that is significantly less than their fair market value at the time of acquisition, notwithstanding that the shareholder is deemed by paragraph 69(1)(b) to have disposed of his shares for proceeds of disposition equal to their fair market value. ...

It seems to us that, while paragraph 96(1)(f) of the Act does provide that in computing a partner's income the amount of income of the partnership from a source and the location of such source are to be considered that of the partner, this rule deals only with sources that are specifically enumerated in the Act.  ...

However, an amount is considered earned and is not in respect of services not rendered if the taxpayer's right to it is under no restriction, contractual or otherwise, as to its disposition, use and enjoyment, or the taxpayer's right to the amount is absolute and unconditional. ...

Galbraith   900146 SUBJECT:  Inventoriable Tooling Costs  24(1) This is in reply to your memorandum received on December 4, 1989, concerning 24(1)     23 The relevant facts are as follows: 24(1) Taxpayer's Position 24(1) Our Comments Whether an asset is capital or inventory, in either case, it must be owned by the taxpayer.  24(1)  Generally, the date on which a disposition is considered to have occurred would be the effective date of the transaction as agreed by the parties, unless a contrary intention could be shown; the word "disposition" is used at its widest possible meaning in the capital cost allowance provisions of the Income Tax Act. ...

You refer to the conditions previously stated by the Department for a corporation holding U.S. personal-use real estate to be considered as an SPC, and thus to avoid a shareholder benefit under subsection 15(l).  ...

If the election is considered to be available only to investors, who would be entitled to the capital treatment in any case, no greater certainty is achieved and the election becomes almost meaningless. ...

You have asked for further clarification that the executors of the deceased taxpayer's estate should, in the following situation, be able to make use of the provisions of subsection 118.1(6) of the act on behalf of the deceased taxpayer as the gifts of capital property should be considered to have been made by the taxpayer's will or otherwise for the purposes of subsection 118.1(6)of the Act. ...