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Where the applicable corporate law provides that the predecessor corporations involved in the amalgamation cease to exist and that a new corporation is formed on the amalgamation, the predecessor corporations generally will be considered to have disposed of any property held immediately before the amalgamation. ... Black & Decker Manufacturing Co., Ltd. (1975) 1 SCR 411; (1974) 43 DLR (3d) 393, then the predecessor corporations generally would not be considered to have disposed of any assets held immediately before the amalgamation. At the shareholder level, the shareholders of each predecessor corporation, including other predecessor corporations, generally will be considered to have disposed of their shares in each predecessor corporation for capital gains purposes. ...

Will Revenue Canada treat U.S. limited liability companies as corporations for Canadian tax purposes or will they be considered to be partnerships? ... The limited liability companies in the two cases that we have reviewed, Wyoming and Florida, would be considered corporations rather than partnerships. Where the U.S. limited liability company is considered a corporation for purposes of the Act and is a foreign affiliate pursuant to paragraph 95(1)(d) of the Act, a computation of its surplus accounts for purpose of the foreign affiliate regulations will be done in a manner similar to that of any other foreign affiliate. ...

DRAFT International Fiscal Association 1995 Conference QUESTION 8 Clause 95(2)(a)(ii)(C)- "Specified Member" of a Partnership How will Revenue Canada assess whether a foreign affiliate member of a partnership has a sufficient degree of involvement in the business of partnership such as not to be considered a specified member of the partnership for the purposes of clause 95(2)(a)(ii)(C). Department's Position In order to determine whether the activities of a member of a partnership are sufficient for that member to be excluded from being considered a "specified member" of the partnership, all the facts of the situation must be reviewed. However, Revenue Canada considers that a person is actively engaged in a business of a partnership for the purposes of the definition of "specified member" in subsection 248(1) of the Act, where that person is directly involved in the management and/or the daily activities of the business and where that involvement takes place on a regular, continuous and substantial basis throughout the period under consideration such person will not be considered a specified member of that partnership. ...

Will income from writing covered be considered to be derived from the underlying security for the puposes of 108(2)(b)(iv)? ... Unit trust must own the underlying security to write a covered call, therefore premium can be considered to be derived from underlying securities; also OSA allows the writing of covered calls as a permitted investment. ... You have asked if premiums received by a closed end unit trust as a writer of covered call options would be considered "derived from" those marketable securities as required by subparagraph 108(2)(b)(iv). ...

Principal Issues: TEI Question: Will an officer of a corporation be considered to be an "employee...employed by the other person" for purposes of subsection 163.2(15)? ... Question XXVIII Subsection 163.2(15)- Officer/Employee Would the Agency please confirm that in all cases, consistent with section 248, an officer of a corporation will be considered to be an "employee...employed by the other person" for purposes of subsection 163.2(15)? ... Accordingly, we confirm that an officer of a corporation will be considered to be an "employee...employed by the" corporation in applying subsection 163.2(15). ...

15 February 1991 Ministerial Correspondence 910114 F- Personal Services Business Unedited CRA Tags 125(7) personal services business Dear Sirs: Re:  Personal Services Business This is in response to your letter dated January 2, 1991 requesting the Department's interpretation regarding the tax treatment of corporations considered to be personal services businesses. Whether or not a particular corporation is a personal services business is a question of fact to be determined from an examination of all the facts, however, under paragraph 125(7)(d) of the Act, a corporation is considered to be carrying on a personal services business if among other factors an individual performs services on behalf of the corporation (the "incorporated employee") and the incorporated employee or a person related thereto owns 10% or more of the shares of the corporation and the incorporated employee would otherwise, but for the existence of the corporation, reasonably be regarded as an employee or officer of the person who received the services from the corporation, unless the corporation employed, throughout the year, more than five full time employees in the business or the services were performed for a corporation with which it was associated. Thus where the corporation meets either one of the two exceptions stated above; it will not be considered to be carrying on a personal services business.  ...

In your memorandum you state that 24(1) 24(1) Our comments 24(1) This opinion is based on the following: 1)     Paragraph 5 of Interpretation Bulletin IT-145R states that the dyeing of cloth is considered to be a processing activity, therefore, silk screening would appear to be a processing activity.  In addition, paragraph 48 of IT-145R states that "alterations of clothing at a retail clothing establishment or the sale of custom tailored or off the rack articles is considered to be qualified manufacturing or processing activity".  Based on the comments in IT-145R it would appear that both silk screening and embroidering can be considered to be processing activities. 2)     24(1) We trust our comments will be of assistance to you. ...

It is our opinion that, where the securities dealer acts as a principal, the above described transaction would be considered a securities lending arrangement as that term is defined under section 260 of the Income Tax Act (the "Act "). Furthermore, it is our view that the transaction may be considered as a dividend rental arrangement under subsection 248(1) of the Act since it may reasonably be considered that the main reason for the arrangement is to enable the securities dealer to receive the dividend. ...

11 June 1992 Income Tax Severed Letter 2MO1270- Foreign Exchange Gains and Losses- Calculating Currency 1992 Corporate Management Tax Conference FOREIGN EXCHANGE GAINS AND LOSSES Question 7 For purposes of subparagraph 95(2)(f)(ii) and Regulation 5907(6), under what circumstances will a particular currency be considered "reasonable in the circumstances"? ... Where a particular currency has become the generally accepted currency for conducting business in a country, such currency may be considered "reasonable in the circumstances", notwithstanding that some other currency is the official currency of that country. As well, the currency that is used for income tax purposes in the foreign jurisdiction would normally be considered "reasonable in the circumstances". ...

In your memorandum you state that 24(1) 24(1) Our comments 24(1) This opinion is based on the following: 1) Paragraph 5 of Interpretation Bulletin IT-145R states that the dyeing of cloth is considered to be a processing activity, therefore, silk screening would appear to be a processing activity. In addition, paragraph 48 of IT-145R states that "alterations of clothing at a retail clothing establishment or the sale of custom tailored or off the rack articles is considered to be qualified manufacturing or processing activity". Based on the comments in IT-145R it would appear that both silk screening and embroidering can be considered to be processing activities. 2) 24(1) We trust our comments will be of assistance to you. ...