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Pursuant to subsection 104(18) of the Act, income is considered to be payable for purposes of subsections 104(6) and (13) where (a)     the income is held in trust for a minor whose right thereto has vested, and (b)     the only reason that it was not payable was because the beneficiary was a minor. ... Tuition fees, medical expenses or other expenses incurred for a minor beneficiary's benefit will be considered to be income payable to the beneficiary. If a reimbursement of such payment is made to the parent of the beneficiary for the only reason that the beneficiary is a minor, it will still be considered to have been paid to the beneficiary. ...

Will the March 31, 1989 amendments to the original application be considered eligible for the CBITC. ... "  As such, only the original "plan" as submitted prior to July 1988 would be considered as meeting the definition of "approved project".  Any significant revision would be considered a new plan or project. 4)     The French version of the Income Tax Act uses the term "ouvrage approuve" as the equivalent of "approved project".  ...

The significance of the revenues earned would need to be considered in conjunction with the objects of the corporation and the time and attention that is actually devoted to realizing such revenues.  ... Generally an investment in a taxable subsidiary would not be considered to be for a purpose other than profit. (3)&(4) In determining for purposes of paragraph 149(1)(l) of the Act whether the Association was operated for a purpose other than profit all the facts and details of its operations and activities must be considered.  The accounting treatment (loans vs. expenditures) and the source of the funds (bank borrowing vs. excess membership contributions) would be factors considered within the larger concept of whether the use of the funds was consistent with the exempt objects of the Association.        ...

An increase in cost as a result of the addition would not be a reason, in our view, to deny inclusion as part of the assets of the Original Plan.  23 It follows that, in our opinion, any new separate assets which were not part of the Original plan could not be considered to be an "approved project property" to be used in an "approved project" for the purposes of subsection 127(9) of the Act and section 4604 of the Regulations for the following reasons: (1)     The new separate assets would not be considered part of  the plan submitted "before July 1988". (2)     Such assets may be considered as substantial changes to the Project. (3)     The Shorter Oxford English Dictionary defines "project" as something projected; a plan, a scheme; a proposal. Based on this definition, only assets described in the Original Plan (an additions thereto) may be considered as meeting the definition of "approved project". (4)     The French version of the Act uses the term "ouvrage  approuvé" as the equivalent of "approved project".  ...

The answer to your question is dependant on whether or not the loan or mortgage in question can be considered to be received in the circumstances described in subsection 80.4(1) of the Act. It is our view that a third party loan will be considered to be received in the circumstances described in subsection 80.4(1) of the Act. It is our view that a third party loan will be considered to be received by virtue of employment and thus subject to subsection 80.4(1) of the Act, if the employer is involved in the initial granting of the loan. ...

" In view of the above, it is our opinion that item 2 could be considered "inventory" for purposes of paragraph 28(1)(c) and item 1 would not be so considered. With respect to your concluding query regarding a bona fide nursery business being considered a farming business, we draw your attention to the comment in IT-433 paragraph 7 under the heading of "Meaning of Farming Business".       ... In certain factual circumstances it is considered that farming includes...the operation of nurseries and greenhouses... ...

A proper request entails the provision of all related documents for our review as well as an identification of all of the specific provisions of the Income Tax Act (the "Act") in respect of which the request is to be considered.  ... A fund of this nature is also generally considered to be conducting a business with the result that all gains and losses are treated as being on income account. ... In response to your third concern, while a number of provisions of the Act may have application and no general rule can be applied, in most cases, a fund will be considered to be a foreign property if it holds more than 10% of its investments in foreign securities. ...

As indicated by its title "Determination of an Individual's Residence Status", this bulletin provides guidelines to assist in determining if a person would be considered a non-resident of Canada while absent from the country. ... Your income from the XXXX would not attract taxation in Canada provided you could be considered a non-resident of Canada in accordance with IT-221R. In your case, it is very likely you would be considered a non-resident if out of the country for more than two years and considered to have severed all your residential ties. 2. ...

The relevant words in subsection 14(1), "from that business", are considered to refer to amounts generated in the course of the business. Such an amount arising in connection with the sale of the business is thought to fall outside this phrase and thus is not considered to be ancillary to the activities involved in carrying on the business. ... For example, if the business had purchased goodwill, had written off part of it against active business income and later recovered this amount on the sale of the goodwill with the business, the amount recovered could be considered to be an adjustment of active business income earned in prior years. ...

Moreover, a taxpayer is considered to have received payment at the time of receipt of the ticket regardless of when the ticket is presented for payment. ... If it is the case that both a cash purchase ticket and a deferred cash purchase ticket are forms of settlement of a debt, then such tickets could not be considered as receivables in respect of a debt. ... In the interests of maintaining a consistent position as regards both cash purchase tickets and deferred cash purchase tickets, it is our view that if the Department is to take the position, as it has, that a taxpayer is considered to receive payment regardless of the time of the payment upon receipt of a cash purchase ticket, it follows that a deferred cash purchase ticket can not be considered a receivable due to the fact that payment is made in the year following delivery of grain. ...