Search - considered

To the best of your knowledge and that of the taxpayers involved, none of the issues involved in this ruling request is: (i) in an earlier return of any of the taxpayers or a related person; (ii) being considered by a tax services office or taxation centre in connection with a previously filed tax return of any of the taxpayers or a related person; (iii) under objection by any of the taxpayers or a related person; (iv) before the courts; or (v) the subject of a ruling previously issued by the Income Tax Rulings Directorate. ... For the purposes of this distribution, the marketable securities held as portfolio investments will be considered investment property. ... For greater certainty, any tax accounts, such as the balance of any RDTOH or CDA of Investco, will not be considered property for purposes of the proposed transactions described herein. 30. ...

We understand that, to the best of your knowledge and that of the taxpayers involved, none of the issues involved in the ruling request (i) is in an earlier return of the taxpayer or a related person, (ii) is being considered by a tax services office or taxation center in connection with a previously filed tax return of the taxpayer or a related person, (iii) is under objection by the taxpayer or a related person, (iv) is before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired, and (v) is the subject of a ruling previously issued by the Directorate. ... The fair market value of the XXXXXXXXXX Certificates on their date of issue was considered to be nominal having regard to their highly speculative nature. ... For the purposes of ruling A, payments so received will be considered (i) to have been received by each Certificateholder pro rata based on the number of Participation Units allocated to such Certificateholder relative to the total number of Participation Units issued, (ii) first, in satisfaction of the principal component of the Proven Claims, (iii) second, in satisfaction of the accrued interest component of the Proven Claims, and (iv) with respect to the balance, as interest paid pro rata on all Proven Claims. ...

To the best of your knowledge, and that of the taxpayers involved, none of the issues contained herein is: (i) dealt with in an earlier return of the taxpayers or a related person; (ii) being considered by a tax services office or taxation centre in connection with a previously filed tax return of the taxpayers or a related person; (iii) under objection by the taxpayers or a related person; (iv) subject to a ruling previously issued by the Income Tax Rulings & Interpretations Directorate; or (v) before the courts or, if a judgement has been issued, the time limit for appeal to a higher court has not expired. ... The provisions of subsection 69(11) will not apply to the transfer of the MCO Purchased Property described in paragraphs 42 to 55 hereof XXXXXXXXXX unless there is a subsequent disposition of the MCO Purchased Property XXXXXXXXXX within 3 years after such transfer and where it may reasonably be considered that one of the main purposes of the series of transactions or events (which includes the subsequent disposition of these properties or properties substituted therefor) is to obtain a benefit of any item described in paragraphs 69(11)(a) or (b) which is available to a person (other than a person that is affiliated with XCO immediately before the series began). ... Whether such an acquisition would be considered to be part of the series of transactions or events that includes the winding up of XCO Amalco is a question of fact that will depend on all of the surrounding circumstances including the interrelationship between the acquisition and the winding-up. ...

Z To the best of your knowledge and that of the taxpayers named herein, none of the issues involved in this advance income tax ruling request is under objection or appeal or is being considered by any tax services office or taxation centre of the Canada Customs and Revenue Agency in connection with any income tax return already filed. ... For this purpose, Aco will be considered to have significant influence over a corporation or partnership if it has the ability to exercise significant influence, within the guidelines provided by section 3050 of the CICA Handbook, over that corporation or partnership or over any corporation or partnership which has significant influence over that corporation. For greater certainty any tax accounts, such as the balance of any RDTOH or capital dividend account of Aco will not be considered property for purposes of the proposed transactions described herein 25. ...

To the best of your knowledge, none of the issues involved in this Ruling: a) is in an earlier tax return of the existing Applicants or a related person; b) is being considered by a tax services office or taxation centre in connection with a previously filed tax return of the existing Applicants or a related person; c) is under objection by the existing Applicants or a related person; d) is before the courts; or e) is the subject of a ruling previously issued by the Income Tax Rulings Directorate. ... K) Upon the occurrence of the Amalgamation described in Paragraph 75: (a) the provisions of section 87 will apply in respect of Newco, Canco/XXXXXXXXXX and AmalCo; and (b) provided that the NewCo Shares are held by a particular holder thereof as capital property, the provisions of subsection 87(4) (excluding paragraphs 87(4)(c) to (e)) will apply to such holder, such that the holder will be considered to have received AmalCo Shares in consideration for the disposition by such holder of the NewCo Shares and will be deemed to have disposed of such NewCo Shares for proceeds equal to, and to have acquired the AmalCo Shares at a cost equal to the ACBs to the holder of such NewCo Shares immediately before the Amalgamation. L) Control for purposes of the Act, of PUBCO/XXXXXXXXXX, NewCo or AmalCo will not be considered to be have been acquired by a person or group of persons by reason only of the Proposed Transactions. ...

To the best of your knowledge, and that of the taxpayers involved, none of the issues contained herein: (i) is in an earlier return of one of the taxpayers or a related person; (ii) is being considered by a tax services office or taxation centre in connection with a previously filed tax return of one of the taxpayers or a related person; (iii) is under objection by one of the taxpayers or a related person; (iv) is before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired; or (v) is the subject of a ruling previously issued by the Directorate. ... (b) "ACB" means "adjusted cost base" as that expression is defined in subsection 248(1); (c) "affiliated persons" has the meaning assigned by subsection 251.1(1); (d) "agreed amount" has the meaning assigned by subsection 85(1); (e) "BCA" means the Business Corporations Act (XXXXXXXXXX), and, where applicable, its predecessor statutes; (f) "Canadian-controlled private corporation" ("CCPC") has the meaning assigned by subsection 125(7); (g) "capital property" has the meaning assigned by section 54; (h) "cost amount" has the meaning assigned by subsection 248(1); (i) "dividend refund" has the meaning assigned by subsection 129(1); (i) "dividend rental arrangement" has the meaning assigned by subsection 248(1); (k) "distribution date" means the first to occur of: (i) XXXXXXXXXX after the death of the last to die of the beneficiaries alive at the date hereof, (ii) XXXXXXXXXX after the date of death of the last surviving beneficiary; and (iii) such earlier date as the trustees may in writing determine upon the anticipated imminent happening or occurrence of the enactment of any law or the promulgation of any regulation or order or any action by or on the part of any governmental authority, agency or office of or in XXXXXXXXXX or Canada, the objective purpose or effect of which is (I) to restrict in any way the use, investment or distribution of any income or capital of the Trust Property; (II) the acquisition, expropriation or confiscation of any of the income or capital of the trust property, including by the imposition of income tax rates considered punitive by the trustees; (III) the compulsory conversion of the income or capital of the trust property; (IV) to compel the trustees to sell or otherwise dispose of any property and assets comprising the trust property; or (V) the restriction, suspension or abrogation of any contract in relation to the trust property to which the trustees are a party. ... For greater certainty, the proposed transactions described in paragraphs 8 to 17 above and the subsequent transactions described in paragraph 18 above, in and by themselves, will not be considered to result in any disposition or increase in interest described in any of subparagraphs 55(3)(a)(i) to (v). ...

We understand that to the best of your knowledge and that of the taxpayers involved none of the issues involved in the requested ruling: (i) is in an earlier return of a taxpayer identified in this document or of a related person, (ii) is being considered by any Tax Services Office or Taxation Centre of the Agency in connection with a tax return already filed, (iii) is under objection by a taxpayer identified in this document or by a related person, or (iv) is the subject of a ruling previously considered by the Directorate. ... Provided that the Purchased Debt arose from one or more loans made by the Bank in the course of its money lending business, the Purchased Debt reacquired by the Bank will be considered to have been acquired by the Bank in the ordinary course of its business of lending money for the purposes of paragraphs 20(1)(l) and 20(1)(p); O. ...

To the best of your knowledge, and that of the taxpayers involved, none of the issues contained herein: (i) is in an earlier return of one of the taxpayers or a related person; (ii) is being considered by a tax services office or taxation centre in connection with a previously filed tax return of one of the taxpayers or a related person; (iii) is under objection by one of the taxpayers or a related person; (iv) is before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired; or (v) is the subject of a ruling previously issued by the Directorate. ... For the purposes of paragraphs 1100(2.2)(e), 1101(1ad)(b) and 1102(14)(d) of the Regulations, the Holdcos will be considered not to have been dealing at arm's length with Opco (otherwise than by virtue of a right referred to in paragraph 251(5)(b) of the Act) at the time they acquire the depreciable property from Opco referred to in paragraph 16 above. ... For greater certainty, the proposed transactions described in paragraphs 10 to 21 above, in and by themselves, will not be considered to result in any disposition or increase in interest described in any of subparagraphs 55(3)(a)(i) to (v). ...

To the best of your knowledge, and that of the taxpayers involved, none of the issues contained herein: (i) is in an earlier return of the taxpayer or a related person; (ii) is being considered by a tax services office or taxation centre in connection with a previously filed tax return of the taxpayer or a related person; (iii) is under objection by the taxpayer or a related person; (iv) is before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired; or (v) is the subject of a ruling previously issued by the Income Tax Rulings Directorate. ... The provisions of subsection 69(11) will not apply to the transfers described in paragraphs 26, 27 and 31 through 34 above, in and by themselves, unless, as part of a series of transactions or events which includes any of such transfers, it may reasonably be considered that one of the main purposes of the series was to obtain the benefit of any item described in paragraph 69(11)(a) which is available to a person (other than a person that would be affiliated with the vendors of the property immediately before the series began, if section 251.1 were read without reference to the definition of "controlled" in subsection 251.1(3)) or to obtain a benefit described in paragraph 69(11)(b). ... However, these paragraphs do not provide that the amount so computed represents an amount of income earned or realized that could reasonably be considered to contribute to the capital gain on a particular share. 2. ...

You have advised us that to the best of your knowledge and that of the taxpayers involved, none of the issues involved in this letter are: (a) in an earlier tax return of Sellco1 or a related person, (b) being considered by a tax services office or taxation centre in connection with a previously filed tax return of Sellco1 or a related person, (c) under objection or appeal by Sellco1 or a related person, (d) before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired, or (e) the subject of a ruling previously issued by the Income Tax Rulings Directorate. ... It is anticipated that each of the entities receiving a dividend as part of the Proposed Transactions will be considered a specified financial institution solely as a result of paragraphs (f) or (g) of the definition of specified financial institution in subsection 248(1). ... The partners in Sellptp will not be considered to have disposed of all or part of their partnership interests in that partnership as a result of the distribution of the Keepco5 shares described in Paragraph 44. ...