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Principal Issues: Whether the business of a pawnbroker will be considered a "specified investment business. ... The cost of a particular item of inventory is considered to equal the advance made in respect of the particular item. ... If the income is considered interest for income tax purposes, you ask whether the corporation will be considered to be carrying on a “specified investment business” within the meaning of subsection 125(7). ...

You also indicate that since the receivable originated from the sale of qualifying land, the receivable itself should be considered a qualifying property. ... However, mortgages may in certain circumstances be considered an asset used in an active business. ... In summary, mortgages having normal commercial terms and conditions and held as investments are not considered to be assets used in an active business. ...

A be considered income that is derived directly or indirectly from a related business for the purposes of section 120.4? ... A in Year 2 would be considered to be derived, directly or indirectly, from the related business of Opco in respect of Mrs. ... A in Year 2 would be considered to be derived, directly or indirectly, from the related businesses in respect of Mrs. ...

In other words, the sale of units would still be considered to be substantially in accordance with the Memorandum. 3. An amendment to the year-end of the Partnership and to the date on which the revenues of the Partnership will first be distributed would be acceptable and the sale of units would be considered to be substantially in accordance with the Memorandum. 4. For the purposes of the transitional relief provisions, the Partnership will be considered to be acquiring its interest in the Film Partnerships pursuant to the Memorandum. 5.The certified productions owned by the Film Partnerships will be considered to be property of the Partnership within the meaning of paragraph 1B(e) of the Release, in order that the Partnership may have until the end of February 1995 to expend its capital to acquire the Film Units. ...

Reasons FOR POSITION TAKEN: The Department considers that a property is a replacement for a former property where it can reasonably be considered to have been substituted for the use of that former property. ... In this particular case, since the former land and former buildings were replaced with the same type of property, namely land and buildings, and since land is not considered to bear the same physical description as a building, the buildings cannot reasonably be considered to have been substituted for the land, nor can the land be considered to have been replaced with the buildings. ... Thus, where the former property was not used by the taxpayer itself but was rented to a third party, a property acquired for the same rental purpose would be considered to be its replacement. ...

Principal Issues: Whether the land owned by a taxpayer is considered to be "qualified farm property"? ... The determination of whether each of your interests may be considered "qualified farm property" for purposes of the Act must be evaluated separately. ... Some of the criteria which should be considered in making this determination are set out in Interpretation Bulletin IT-322R. ...

Whether the charitable organization would be considered to be carrying on an unrelated business and therefore be subject to the proposed penalty in draft subsection 188.1(1). ... Rather than sell the properties, the proposal being considered is to develop leasing properties. ... The criteria in IT-434R are some of the factors that are considered in determining whether a particular charity is carrying on a business. ...

Principal Issues: 1) Whether the activities of seeding, raising, and harvesting shellfish commercially, on a large scale, would meet the definition of “farming” as defined in subsection 248(1) of the Act. 2) If so, then would a tenure be considered “qualified farm property”, as defined in subsection 110.6(1) of the Act, and would a gain arising on the disposition of a tenure by an individual be considered to qualify for the capital gains exemption under subsection 110.6(2) of the Act? ... In certain factual circumstances, it is considered that farming includes raising fish, market gardening and the operation of nurseries and greenhouses. ... Where the development of the basic food product still involves the growing process and natural biological changes as opposed to artificially manufactured foods or mere processing, I do not feel that, generally speaking, the activity would be considered by the general public anything other than agricultural in nature and would, therefore, generally be considered as a farming operation.” ...

Generally, a student loan made under this process (i.e, Consolidation) would be considered a loan made to, or other amount owing by, the individual under the Canada Student Loans Act, the Canada Student Financial Assistance Act or a law of a province governing the granting of financial assistance to students at the post-secondary school level. Once an original loan, which would be considered an eligible loan for purposes of section 118.62, is renegotiated with financial institutions, other than through the process of Consolidation, a new debt to the financial institution is created and the new loan would not be considered to be a loan made to, or other amount owing by, the individual under the Canada Student Loans Act, the Canada Student Financial Assistance Act or a law of a province governing the granting of financial assistance to students at the post-secondary school level. ... We wish to confirm that once an original loan, which would be considered an eligible loan for purposes of section 118.62, is renegotiated with financial institutions, other than through the process of Consolidation, a new debt to the financial institution is created and the new loan would not be considered to be a loan made to, or other amount owing by, the individual under the Canada Student Loans Act, the Canada Student Financial Assistance Act or a law of a province governing the granting of financial assistance to students at the post-secondary school level. ...

From the limited information provided it would appear that the taxpayer engages in the following activities: 24(1) Each of these activities and the assets used in the activities must be considered separately in order to determine the correct income tax treatment of the taxpayer's business.  ... Paragraph 4601(c) of the Regulations should be considered in order to determine whether the equipment will qualify as "qualified transportation equipment" as defined in subsection 127(9) of the Act. c)     As stated in paragraph 2 a) above, transportation of raw materials to the plant does NOT qualify as M & P.  ... The property would be included in Class 10(k) as it is would not be considered to have been acquired for the purpose of gaining or producing income from a mine. b)     In our opinion, the processing plant is considered to be a "facility" as defined in the RDIA, and structures, machinery and equipment used in the processing 24(1) will qualify as "certified property" provided that they are primarily for use in a prescribed area. c)     In our opinion, as stated in 1 c) above      24(1) 4)     Transporting the Finished Product to a Storage Area a)     As stated in paragraph 31 of IT-145R, the shipping and storing of finished goods is NOT a qualified M & P activity.  ...