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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 l49(l)(I) 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. ...

In certain exceptional circumstances, property donated by an artist may be considered to be capital property and not inventory. ... In the case of a cartoonist, it is possible (depending on the facts involved) that the original cartoon drawings may be considered capital property. ... If property donated by an artist is considered to be capital property and not inventory, the donor may be interested in the provisions of the Income Tax Act and the Cultural Property Export and Import Act, which provide tax incentives to individuals who wish to sell or donate significant cultural property to certain Canadian institutions. ...

Joint Ventures ("joint ventures") would be considered to be corporations for the purposes of the definition of "foreign affiliate" contained in paragraph 95(1)(d) of the Income Tax Act (the "Act"). ... The joint ventures meet the criteria outlined in Interpretation Bulletin IT-343R and would be considered to be corporations for purposes of the foreign affiliate rules in the Act. 2. As pointed out in Interpretation Bulletin IT-392 each Canadian participant would be considered to own a number of shares proportionate to his beneficial interest in the joint venture (i.e. if a Canadian participant has a 49% interest in the joint venture he will be considered to hold 49 of the 100 shares in the joint venture for the purpose of the foreign affiliate rules in the Act). ...

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. ...

Where a sale is not made through a securities or stock exchange, as is normally the case with a private corporation's shares, factors such as where the negotiations take place, where the agreement of sale is executed, the location of the property, the place of payment and any relevant provisions in the governing corporation statutes should be considered in order to establish where the sale is made. ... In any event, the views expressed in our July 9 letter, as discussed below, would not differ regardless of where the sale of the policy is considered to have taken place. ... Income Tax Convention (1980), such income is considered to arise in Canada. ...

If not, would a disposition to which subsection 13(21.1) of the Act applies be considered to occur upon the demolition of any such structure? ... Publications Division is in the process of revising IT-233R and has been advised that certain comments in that bulletin are incorrect to the extent they suggest that a lease can be considered a "sale" for tax purposes. ... As the lease was executed in 1980, subsection 13(21.1) was not considered to apply. 3. ...

You ask whether such an amount is considered to be a "retiring allowance" for the purposes of subparagraph 56(1)(a)(ii) of the Income Tax Act (the "Act"). 2. ... You ask whether the value of this service would be considered to be a retiring allowance received by the employee. ... If the amount is in satisfaction of an obligation by the employer to the "employee" arising as a result of his employment, the amount is usually considered to be employment income unless it can be justified as a retiring allowance. ...

The taxpayer's representative takes the view that the cottage and the land are combined and considered as part of the land. ... Therefore we need only to rely on the common-law principles laid out above in determining whether the cottage should be considered to be part of the land. ... Since only one property is considered to be disposed of, only one notification is required under section 116 of the Act. ...

The Related Party Customers are generally either residents of Canada or non-residents carrying on business in Canada and none of them can be considered to be, themselves, in the shipping business. Questions 1) You would like our views as to whether the Taxpayer’s activities carried on in Canada can be considered “the operation of a ship in international traffic” as that expression is used in the version of paragraph 81(1)(c) that applies to taxation years that begin before July 13, 2013. 2) You would also like our views as to whether those same activities can be considered “international shipping” as that expression is used in the version of paragraph 81(1)(c) that applies to taxation years that begin after July 12, 2013 and, in particular, whether the various chartering arrangements entered into by the Taxpayer can be considered “leases” in the context of the new definition “international shipping” in subsection 248(1). ... Such definition has introduced what may be considered to be a new requirement that the ships must be “owned or leased” by the relevant taxpayer in order for the taxpayer to be considered to be in the business of international shipping. ...

When considering the deductibility of travel expenses or motor vehicle expenses under section 8 of the Act and whether an employee is ordinarily required to carry on the duties of the office or employment away from the employer's place of business or in different places, one of the factors that must be considered is whether the employee's place of work is considered to be his or her "regular place of employment". ... Accordingly, it remains a question of fact that can only be determined on a case-by-case basis as to whether any given work location would be considered a place of business of a particular employer and/or a regular place of employment of a particular employee. ... Further, a motor vehicle allowance will generally be considered reasonable if the per-kilometer rate is designed to cover an employee's out-of-pocket costs to use the automobile in the course of performing the duties of employment. ...