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You will note that the conclusion drawn in that instance was that subsection 70(1) of the Income Tax Act (the "Act") was considered to apply to the subsequent payment and the amount was technically required to be reported on the final return of the deceased employee. ... We note that the wording in subsection 70(1) does not contain the requirement that for the provision to apply the amounts must be considered accrued at the time of the employee's death.  ... The equalization payment is not considered to be a payment in recognition of his service in employment paid as a consequence of the cessation of employment caused by the employee death but rather as salary or wages earned in the course of employment. ...

You have requested confirmation: (1)     that the benefits received from an employee-pay-all plan would be tax free to the recipient, (2)     that a plan would be considered an employee-pay-all plan if the employer increased the employee's earnings by the amount of the premium and then deducted the premium from the amount paid to the employee and (3)     that the plan would also be considered to be an employee-pay-all plan if the employer treated the premium as a taxable benefit. ... the plan is set up as an employee-pay-all plan at the time the premium is paid, a plan such as that described in (2) above will be considered an employee-pay-all plan and any benefits received therefrom will not be included in the employee's income.  ...

Where there is strong evidence that the taxpayer continues to have the right of repossession of the containers after shipment to the customers (i.e. the containers remain the property of the supplier at all times), all such containers whether on hand or with customers would normally be considered depreciable property.  On the other hand, where the customers have the ability to use the containers for whatever purpose, destroy or return them at will without consulting the supplier (e.g. returnable beer bottles), the supplier is considered to have sold the containers when they are shipped to the customer and to hold those containers on hand as inventory because they are held for sale.  ... Where the returnable containers are accounted for as inventory, all containers in transit or in the hands of customers are treated as having been sold as the vendor is no longer considered to have title to the containers.  ...

In these cases, the consideration given by the employee is considered to be the employee's covenants as found in the collective agreement or contract of service. Benefits received under a PHSP are not taxable in the hands of the employee and the particular expense reimbursed is not considered to be a medical expense of the employee by virtue of paragraph 118.2(3)(b) of the Act. However, employee contributions to a PHSP are considered to be eligible medical expenses under paragraph 118.2(2)(q) of the Act for the purposes of calculating the medical expense tax credit. ...

2009 Ruling 2008-0305091R3- Retiring Allowance and Bonus from Farm Operation Unedited CRA Tags 248(1); 60(j.1); 67 Principal Issues: Are amounts paid by a Farm Corporation to a husband and wife, who are the sole directors, officers and shareholders, considered a reasonable retiring allowance and bonus? ... The amount of $XXXXXXXXXX paid to each of the Employees will be deductible by the Employer in computing income from the business of farming for the year in which it is paid and will be considered reasonable for the purposes of section 67 of the Act. ...

Principal Issues: Would GAAR be applied where a trust is used to issue debt instead of an existing partnership because the debt issued by the existing partnership may be considered foreign property? ... The notes issued by XXXXXXXXXX may be considered foreign property, within the meaning assigned by subsection 206(1) of the Act. ... The purpose of the proposed transactions is to ensure that the Trust Debt, used to fund the XXXXXXXXXX Canadian operations, issued to Canadian investors will not be considered foreign property for the purposes of Part XI of the Act. ...

RULINGS DIRECTORATE CORRESPONDENCE SUMMARY Principal Issues: Whether amendments to a universal life insurance policy that propose to add certain interest options can be considered so fundamental that they result in a disposition of the underlying policy. ... You advise that to the best of your knowledge and that of XXXXXXXXXX and the policyholder, none of the issues involved in the ruling request has been considered by a taxation services office or a taxation centre in connection with a tax return already filed, and none of the issues involved in the ruling request is the subject of any notice of objection or is under appeal. ... B.By virtue of the application of paragraph 148(10)(d) of the Act the policyholder of the XXXXXXXXXX policy will not be considered to have disposed of an interest in her XXXXXXXXXX policy by reason only of the selection of one or more new interest options described in paragraph 6 above pursuant to the proposed amendments referred to in paragraphs 5 and 9 above. ...

RULINGS DIRECTORATE CORRESPONDENCE SUMMARY Principal Issues: Whether amendments to a universal life insurance policy that propose to add certain interest options can be considered so fundamental that they result in a disposition of the underlying policy. ... You advise that to the best of your knowledge and that of XXXXXXXXXX and the policyholder, none of the issues involved in the ruling request has been considered by a taxation services office or a taxation centre in connection with a tax return already filed, and none of the issues involved in the ruling request is the subject of any notice of objection or is under appeal. ... B.By virtue of the application of paragraph 148(10)(d) of the Act the policyholder of the XXXXXXXXXX policy will not be considered to have disposed of an interest in her XXXXXXXXXX policy by reason only of the selection of one or more new interest options described in paragraph 6 above pursuant to the proposed amendments referred to in paragraphs 5 and 9 above. ...

To the best of your knowledge, and that of the taxpayers involved, none of the issues contained herein is being considered by a tax services office or a taxation centre in connection with any tax return already filed and none of the issues is under objection or appeal. ... B.The proposed variation to Trust Y will not be considered to be a disposition of Y's income or capital interest in Trust Y such that subsections 106(2) and 107(1) of the Act will not be applicable to Y as a result of the amendment to Trust Y. C.The proposed variation to Trust Z will not be considered to be a disposition of Z's income or capital interest in Trust Z such that subsections 106(2) and 107(1) of the Act will not be applicable to Z as a result of the amendment to Trust Z. ...

Principal Issues: Would GAAR be applied where a trust is used to issue debt instead of an existing partnership because the debt issued by the existing partnership may be considered foreign property? ... The notes issued by XXXXXXXXXX may be considered foreign property, within the meaning assigned by subsection 206(1) of the Act. ... The purpose of the proposed transactions is to ensure that the Trust Debt, used to fund the XXXXXXXXXX Canadian operations, issued to Canadian investors will not be considered foreign property for the purposes of Part XI of the Act. ...