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LLC would be considered a corporation, that the ownership interest of a member would be considered shares, and that distributions would be considered to be dividends. ...

LLC would be considered a corporation, that the ownership interest of a member would be considered shares, and that distributions would be considered to be dividends. ...

For the purposes of determining that there has been a pro rata distribution of each of the three-types-of property: following the allocation of current liabilities to each cash or near-cash property on a pro rata basis, any remaining net FMV of any accounts receivable (including HST/GST/QST receivables and accounts receivable owing from non-arm’s length persons), inventories and prepaid expenses of Canadian DC will be reclassified as business property and excluded from the cash or near-cash property, to the extent that such property will be collected, sold or used in the ordinary course of the business to which such property relates; amounts receivable by Canadian DC under the cash pooling arrangement will be considered cash or near-cash property and any amounts payable by it thereunder will be considered current liabilities allocable solely to cash (if the cash pool account is in a negative balance position, due to outstanding cheques or otherwise, that negative balance can be offset against any other bank account that is in a positive position); the quotas of Forco 3 owned by Canadian DC will be considered investment property; the portion of loans or advances (including the Canco 1 Loan) that is due within the next [12] months, as well as loans and advances with no fixed terms of repayment will be considered cash or near cash assets, and the balance of any such term loans (including the Canco 1 Loan) will be considered investment property; the real properties of Canadian DC, including its leasehold interests which are subject to the subleases, will be considered business property; any amount collected from customers and recorded as deferred revenue will not be considered a liability provided it does not represent a true legal liability capable of quantification; any net pension plan asset (i.e., actuarial plan assets in excess of actuarial plan liabilities) of Canadian DC will not be considered property of Canadian DC, but any net pension liability (i.e. actuarial plan liabilities in excess of actuarial plan assets for a registered pension plan will be considered a legal liability capable of quantification; any liability that is related to an unregistered retirement plan or similar post-employment arrangement (e.g., supplemental retirement or health care plan) will be disregarded where the amounts are dependent on future events; In the event that Canadian DC has cash or near-cash property (“cash”) at the time of the transfer in 5, then no later than XX days thereafter, Canadian DC will transfer cash as is required to ensure that the net FMV of the cash of Canadian DC transferred to Canadian TC will approximate the ratio of (a) the aggregate FMV of the Canadian DC Special Shares owned by Canadian TC immediately before the transfer, to (b) the aggregate FMV of all the issued and outstanding shares of Canadian DC immediately before the transfer- and such transfer will be considered to have been occurred as part of the transfer in 5. To the extent that current liabilities of Canadian DC are allocated to more than one type of property of Canadian DC (for example, as a result of the reclassification in 7(a)) and all or a portion of those liabilities are assumed by Canadian TC in 5, Canadian TC will have the option to allocate those current liabilities to any such corresponding type of property of Canadian TC, provided that the amount so allocated to a particular type of property of Canadian TC does not exceed the amount allocated to that same type of property by Canadian DC; Since the Canco 1 Loan (transferred in 5) will be considered to be both an investment, and cash and near cash asset, Canadian DC and Canadian TC will jointly agree on the portion of thereof that is of each property type of property, provided that the amount of the transferred Canco 1 Loan considered to be a particular type of property of Canadian TC does not exceed its amount that is considered to be of that type by Canadian DC; Canadian TC will redeem all of the outstanding Canadian TC Special Shares held by Canadian DC for a non-interest-bearing promissory note, payable on demand, and Canadian DC will accept the note as full payment of such redemption consideration. ...

"When it is considered appropriate, the obligations of the counterparty under the Forward Contract will be guaranteed by another person who may or may not be resident in Canada...." The Agency ruled that the forward contracts will not be considered to be foreign property because they will be settled in Canadian dollars, and do not give a right to receive units of the Underlying Funds, would not otherwise be considered to be foreign property based on the situs of the contracts and do not involve indebtedness of a non-resident person. ...

For the purposes only of applying paragraph 88(1)(c) to determine the cost of the Target Partnership A Units that were owned by TargetSubA on the Take-Up Date, following the amalgamation described in paragraph 17 above, pursuant to subsection 88(4), (i) Target Amalco will be considered to be the same corporation as, and a continuation of, Target, for the purposes of applying the reference in subparagraph 88(1)(c.4)(iii) to "the subsidiary"; and (ii) Target Amalco will be considered to be the same corporation as, and a continuation of, TargetSubA, for the purposes of determining whether Target Partnership A Units were capital property owned by Target Amalco on the Take-Up Date, and for the purposes of determining when AcquisitionCo last acquired control of Target Amalco. ... For the purposes only of applying paragraph 88(1)(c) to determine the cost of the Target Partnership A Units that were owned by TargetSubA on the Take-Up Date, following the [2nd] amalgamation...pursuant to subsection 88(4), (iii) New Amalco will be considered to be the same corporation as, and a continuation of, Target, for the purposes of applying the reference in subparagraph 88(1)(c.4)(iii) to "the subsidiary"; and (iv) New Amalco will be considered to be the same corporation as, and a continuation of, TargetSubA, for the purposes of determining whether Target Partnership A Units were capital property owned by New Amalco on the Take-Up Date, and for the purposes of determining when AcquisitionCo last acquired control of New Amalco. ...

The MFT will be considered to be an open-ended trust for purposes of s. 108(2)(a), its only undertaking will be considered to be the investing of its funds in CT units and the First Notes, the MFT units will not be considered to be foreign property (provided that the MFT continues to hold less than 20% of its property in the CT units), and GAAR will not apply. ...

2006 Ruling 2006-0173601R3- Permanent establishment-- summary under Article 5 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 5 A representative office of a foreign bank whose activities were restricted to the general promotion in Canada of the foreign bank's products and services, and acting as a liaison between Canadian customers (or potential customers) and the foreign bank, would be considered to be engaged in activities of a preparatory or auxiliary nature and, therefore, would not be considered to be a permanent establishment under the applicable Treaty. ...

Rulings Following the conversion, C Co will be considered to be the same corporation as before the conversion, it will not be considered to have thereby disposed of its assets, and B Co will not be considered to have disposed of its C Co shares, which will have the same ACB. ...

The MFT will be considered to be an open-ended trust for purposes of s. 108(2)(a), its only undertaking will be considered to be the investing of its funds in CT units and the First Notes, the MFT units will not be considered to be foreign property (provided that the MFT continues to hold less than 20% of its property in the CT units), and GAAR will not apply. ...

2015 Ruling 2015-0564981R3- "cross-statute" amalgamation-- summary under Subsection 87(1) Summary Under Tax Topics- Income Tax Act- Section 87- Subsection 87(1) amalgamation of 2 corporations in 2 jurisdictions qualified As part of a Plan of Arrangement for the spin-off by an agricultural cooperative corporation (“ACC”) of one of its two businesses under a Plan of Arrangement, the ACC will be amalgamated with a subsidiary corporation (“Subco”) which was incorporated under a different statute, with Amalco being considered to be formed under that same other statute. CRA ruled that this amalgamation will be considered to be a s. 87(1) amalgamation. ...