Search - considered

28 May 2015 IFA Roundtable Q. 3, 2015-0581511C6- IFA 2015 Q.3: Entity Classification CRA Tags 248(1) "corporation" Principal Issues: Whether the CRA still follows a "two-step" approach for entity classification, and are there any new entities or arrangements being considered? ... Can the CRA confirm that it still follows this "two-step" approach, and can you update us on any new entities or arrangements that are being considered? ... Our preliminary view is that these entities have many characteristics in common with "limited liability companies" ("LLCs") that exist in the U.S., which are generally considered to be corporations for the purposes of the Act, but that they also have many characteristics in common with the various forms of partnerships that exist in the U.S., which are generally considered to be partnerships for the purposes of the Act. ...

Principal Issues: Is "aquaculture" considered "farming" or "fishing" as defined in s. 248(1) of the Act? ... The greater the extent and the more sophisticated or organized the methods, the more likely the activity is considered to be farming. ... (footnote 2) For example, raising fish, even in highly artificial conditions, is normally considered farming as the end product is the result of natural growth. ...

26 September 2014 Internal T.I. 2014-0525241I7- 60(l)- Financial Dependence Ward of the Crown CRA Tags 146(1.1) 146(1) "refund of premiums" 60(l) Principal Issues: Whether a ward of the Crown could be considered to have been financially dependent on the child's father? ... Based on the foregoing, you ask whether Individual A would be considered financially dependent on XXXXXXXXXX father at the time of his death. ... Consequently, in the current situation Individual A would not be considered to be financially dependent on the deceased at the time of death for the purpose of a deduction under paragraph 60(l) of the Act. ...

Whether supplementary payments made to an employee in excess of a workers' compensation award is considered income. 3. ... Where it can be established that an employee received a loan or advance from his or her employer which is to be repaid from anticipated future Board awards, the loan or advance is not considered income to the employee and is not a deductible expense to the employer. 4. ... Such compensation is not considered salary, wages, or other remuneration, and is not subject to the withholding of income tax, CPP and EI. ...

In order to be considered a reimbursement, the employee should present detailed receipts to the employer. ... Cell phone Generally, where the cost of an employee's asset is paid for by an employer, the fair market value of the asset is considered a taxable benefit for the employee under paragraph 6(1)(a). Therefore, if an employee's cell phone is paid for or replaced by the Employer, the fair market value of the phone is considered a taxable benefit for the employee. ...

As such, it could appear that an improvement district that provides one or two municipal-type services might not appear to be considered to be performing a function of government. ... Prior rulings documents examined whether these British Columbia improvement districts could be considered municipalities under paragraph 149(1)(c). ... Therefore, an improvement district could no longer be considered to be a municipality. ...

Your question is whether the farmland is considered to be QFP that is be eligible for the capital gains deduction in the taxpayer's hands. ... A property of an individual must meet one of two general farming-use tests to be considered to be used in the course of carrying on the business of farming in Canada. ... Generally, a property is considered to be used principally in a farming business if its primary use (that is, more than 50% of its use) is in respect of the farming business operation. ...

However, where the rights to the invention remain with the employee and the employer is solely acting as a conduit to flow the royalty payment to the employee, the royalty payment will be considered royalty income to the individual. ... More specifically, you have enquired whether a royalty payment flowing from an employer to a faculty member would be considered employment income or royalty income for purposes of reporting it on a T4 or T5. ... Where the rights to the IP belong to both the University and the Faculty and the University awards 100% of the royalty payment to the Faculty, the amount of the royalty payment that exceeds the Faculty member's share will be considered employment income. ...

Position: Honorarium payments are considered income from an office and the payer is required to withhold income tax, CPP and EI. ... These board members are not otherwise considered to be employees but may be employees of the province in other departments. ... In your case XXXXXXXXXX of the honorarium is considered to be the expense allowance paid to the school board trustees. ...

The issue is whether the payments are considered employment income and, if so, whether they are taxable to the recipient. ... If the payments are considered employment benefits, you inquired whether the payments are a taxable benefit to the Program participant. ... As such, the payments are considered scholarships or bursaries and not employment income to the participant under subsection 5(1) pursuant to subsection 6(3) of the Act. ...