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Disclaiming beneficiary will not be considered to have received any proceeds of disposition for purposes of section 106 & 107; disclaimed interest will be considered to have been received "as a consequence of death for the purpose of 248(8); donation will qualify under 118.1; GAAR is not applicable. ... " Purpose of Proposed Transaction The purpose of the proposed transaction is to permit the fair market value of a portion of the Residuary Estate to be considered a charitable gift for income tax purposes. ... Beneficiary A will not be considered to have received any proceeds of disposition for the purposes of sections 40 and 106 as a result of executing the disclaimer described in paragraph 9 above. ...

Will the Children be considered to have disposed of their interests in the Trust? ... The Widow will not be considered to have received any proceeds of disposition for the purpose of subsection 106(2) of the Act as a result of the proposed transactions. ... The Children will not be considered to have received any proceeds of disposition for the purpose of subsection 107(1) of the Act as a result of the proposed transactions. ...

As indicated therein, where there is a sole executor (executrix) and that executor has been and will continue to be resident in Canada until the affairs of the estate are settled, the estate will generally be considered to be resident in Canada. ... Paragraph 6 of IT-286R2 discusses this "paid or entitlement" question in the context of whether or not income of a testamentary trust is considered to be payable in the "executor's year" (i.e, the initial 12 month period commencing with the settlor's death).  ... Where an executor requests a clearance certificate based on the return filed for the trust, the return will generally be considered to be the final return and the trust will be considered to have been wound-up during the executor's year, even where the actual distribution occurs shortly thereafter.  ...

In the process of revising the bulletin with respect to other issues the decision was made to delete the statement because it was considered to be a contentious issue and that its presence might spark debate on the subject.  ... If the parking benefit were considered to be in relation to the use of an automobile then it would clearly be affected by the provisions of subparagraph 6(1)(a)(iii) of the Act. ... All of the above comments should be considered in determining the significance of the statements in the Report. 23  21(1)(b) We hope that our comments will be of some assistance. ...

To the best of your knowledge and that of the taxpayers involved: (i)none of the issues involved in the requested rulings is being considered by a Tax Services Office or a Taxation Centre in connection with a tax return already filed, and (ii)none of the issues involved in the requested rulings is the subject of any notice of objection or is under appeal. ... ADDITIONAL INFORMATION 10.Pursuant to the Articles of Association of XXXXXXXXXX "XXXXXXXXXX. 11.As a matter of U.K. corporate law, the proposed repurchase of the XXXXXXXXXX shares, as described in paragraph 9 above, will not be considered a dividend. ... B.Any withholding tax levied by the United Kingdom in accordance with paragraph 3(a)(ii) of Article X of the Convention on the aggregate of the amount considered a distribution under U.K. tax law and the Advance Corporation Tax Credit that XXXXXXXXXX is entitled to receive with respect thereto will be considered a non-business income tax as that term is defined in subsection 126(7) of the Act. ...

(c)     Can a company with no liabilities be considered insolvent for purposes of subsection 50(1)(b)(iii)?      We are of the opinion that a corporation with no liabilities generally cannot be considered to be insolvent.  ... The opinions expressed herein are not advance income tax rulings and, in accordance with paragraph 24 of Information Circular 70-6R, are not considered binding on the Department. ...

Where a foreign entity is considered to be a corporation for the purposes of the Act but ownership in the entity is not divided into units entitled shares, can an ownership interest in such an entity be considered to be shares in the capital stock of that entity for the purposes of the Act. 3. ... For purposes of the Act: (i) Finco will be considered a corporation; (ii) the ownership interests in Finco will be considered shares of Finco; (iii) Pubco's equity percentage in respect of Finco will be 100%; (iv) Finco will be a foreign affiliate and a controlled foreign affiliate of Pubco; (v) Pubco will have a qualifying interest in respect of Finco and will be related to Finco; and (vi) distributions of Finco's profit to its equity holder(s) will be considered dividends. ... For purposes of the Act: (i) Forco1 will be considered a corporation; (ii) the ownership interests in Forco1 will be considered shares of Forco1; (iii) Pubco's equity percentage in respect of Forco1 will be 100%; (iv) Forco1 will be a foreign affiliate and a controlled foreign affiliate of Pubco; (v) Pubco will have a qualifying interest in respect of Forco1 and will be related to Forco1; and (vi) distributions of Forco1's profit to its equity holder(s) will be considered dividends. ...

It consists of XXXXXXXXXX None of these changes which are meant to deal with the changes in law are relevant with respect to the rulings and opinions given which are considered routine. ... XXXXXXXXXX 962523 Attention: XXXXXXXXXX XXXXXXXXXX, 1996 Re: XXXXXXXXXX Advance Income Tax Ruling This is in reply to your request of XXXXXXXXXX as revised by your facsimile transmission of XXXXXXXXXX, for an advance income tax ruling on behalf of: XXXXXXXXXX You advise that to the best of your knowledge and that of XXXXXXXXXX and the General Partners: (a)none of the matters considered in the requested Ruling are being considered by a district tax services office or a taxation centre of Revenue Canada, Customs, Excise and Taxation ("Revenue Canada") in connection with a tax return already filed; and (b)none of the matters considered in the requested Ruling is under objection or appeal. ... (b)For greater certainty, if draft section 143.2 of the Act is enacted as proposed in the Notice of Ways and Means Motion tabled on June 20, 1996, by the Minister of Finance, and if any Investor has limited-recourse amounts that can reasonably be considered to relate to the acquisition of Units, it is our opinion that: (i) draft subsection 143.2(6) of the Act (not subparagraph 53(2)(c)(i.3)) would apply to reduce that Investor's cost of the Units, and (ii) the expenditures made by XXXXXXXXXX would also be considered to relate to those limited-recourse amounts and would be reduced by the total of such limited-recourse amounts. ...

2010 Ruling 2009-0352121R3- Status of 149(1)(l) entity created by a Charity Unedited CRA Tags 149(1)(l), 149.1(2)(a), 188.1(1)(b) Principal Issues: Two rulings: (1) Whether Newco will be considered to be organized and operated as a 149(1)(l) entity. (2) Whether the Charity will not be considered to be carrying on a business by virtue of the consignment sale arrangement. Position: Rulings given: (1) Newco will be considered to be organized as a 149(1)(l) entity. (2) The Charity will not be considered to be carrying on a business solely by virtue of the consignment sale arrangement. ... For purposes of paragraphs 149.1(2)(a) and 188.1(1)(b) of the Act the Charity will not be considered to be carrying on a business solely by virtue of the consignment sale arrangement described in paragraph 12. ...

Where the Taxpayer contributes the shares to an employee's RRSP account, the value of the shares at the date of the contribution will be considered to be a contribution by the employee to an RRSP. ... Payments made under the HSSA account to eligible participants as reimbursements for eligible medical expenses will not be considered a taxable benefit. ... No amount will be considered to be constructively received by any eligible participant as a result of an election by the eligible participant to receive HSSA credits. ...