Search - considered

Principal Issues: Whether custom grain drying can be considered a "farming" activity? ... It is a question of fact whether a particular activity can be considered to be "farming" for purposes of the definition in subsection 248(1) of the Act. ... It follows that the custom grain drying business would not, in such a situation, be considered a farming business. ...

If an election under subsection 98(3) of the Income Tax Act (the "Act") is not made, (a)at what point is each partner considered to have disposed of its partnership interest? (b)will each partner obtain the increase in the adjusted cost base of its partnership interest pursuant to subparagraph 53(1)(e)(viii) and subsection 66.4(6) of the Act before the partner is considered to have disposed of his partnership interest? Department's Position (a)Provided the assets of the partnership are distributed such that each of the partners has received the appropriate pro-rata undivided interest therein before dissolution of the partnership, the partners will be considered to have disposed of their partnership interest upon dissolution based upon the terms of the partnership agreement, the relevant provincial law and the particular facts of the case. ...

If any LLC is treated as a partnership for the purposes of the Internal Revenue Code (the "Code") such that the shareholders ("partners") rather than the LLC are liable to tax under the Code on the income of the LLC, such LLC will not be considered to be a resident of the U.S. under paragraph 1 of Article IV of the Canada-U.S. ... Where the mind and management of the LLC is situated in the U.S. the LLC will be considered resident in the U.S. for Canadian tax purposes, however it will not be considered a resident of either contacting state under the Convention. ...

Position TAKEN: No Reasons FOR POSITION TAKEN: Cannot be considered a prepayment of rent where the lessee has no right to the possession or use of the lease property. 5-942801 XXXXXXXXXX L. ... Where an amount is received by a landlord from a lessee and the lessee has no right to the possession or use of the lease property, it is our view that the amount received cannot be considered as a prepayment of rent. Consequently, a payment received by a landlord from a tenant for the cancellation of a lease, which is considered to be income under section 9 of the Income Tax Act, is not subject to a reserve under paragraph 20(1)(m). ...

Principal Issues: Whether pre-construction design activities considered to be "construction". Position: Not considered to be "construction". Reasons: "Construction" refers to those activities normally associated with the on-site fabrication and erection of buildings, bridges and other structures which are intended to be permanently affixed to the land on which they are built. 960020 XXXXXXXXXX Wm. ... The term does not apply to pre-construction design activities and its our view that design activities would not be considered "property under construction". ...

As the seminars which you propose will offer business related education to improve operations such seminars would not be considered conventions. ... As regards your two specific questions it is our view that: (a)     As XXXXXXXXXX operates within the province of British Columbia it would not, for purposes of subsection 20(10) of the Act and IT- 131R2, be considered to be international in nature. (b)     The seminars you describe in your letter would be considered training and not conventions. ...

XXXXXXXXXX Dear XXXXXXXXXX The Honourable Otto Jelinek, Minister of National Revenue, has asked me to respond to your letter of January 31, 1993, in which you ask whether occupational therapists are considered to be medical practitioners for the purposes of the medical expense and disability tax credits. An amount is considered to be a medical expense used in determining the tax credit when it is paid to a medical practitioner for medical services. ... Consequently, an occupational therapist will be considered to be a medical practitioner in those jurisdictions which regulate the profession under the relevant health or medical statute of that province. ...

What guidelines does Revenue Canada use to determine whether a change in the terms and conditions of a policy will be considered to be a new acquisition for purposes of the above-mentioned provisions? If a new acquisition is considered to occur upon a change of the terms and conditions of a life insurance policy, will a deemed disposition also be deemed to have occurred and, if so, how will the proceeds of disposition be determined? ... Factors to be considered in determining the fair market value of an interest in a life insurance policy are set out in paragraphs 40 and 41 of Information Circular No. 89-3. ...

Principal Issues: Would a non-recourse mortgage secured by real property be considered a mortgage for the purposes of subsection 4900(4) of the Regulations? ... The non-recourse mortgage would be either a mortgage at law or, alternatively, it would be considered a mortgage under the inclusion found in paragraph 4901(3)(a) of the Regulations. 951609 XXXXXXXXXX M.P. Sarazin Attention: XXXXXXXXXX July 21, 1995 Dear Sirs: Re: Subsection 4900(4) of the Income Tax Regulations This is in reply to your letter dated June 16, 1995 wherein you requested our comments as to whether a non-recourse mortgage would be considered a mortgage for the purposes of subsection 4900(4) of the Income Tax Regulations (the "Regulations"). ...

Position: No Reasons: The partnership, not the partner, is considered to be the owner of partnership property 952532 XXXXXXXXXX J.P. ... It is the view of the Department that, in such a circumstance, it is the partnership rather than the individual partners which is considered to be the owner of the partnership property and, consequently, subsection 73(1) of the Act would not be applicable as that provision is only applicable with respect to capital property of the taxpayer which has been transferred to the taxpayer's spouse. As the taxpayer referred to in subsection 73(1) of the Act would be the individual partner, that provision would not be relevant in terms of partnership property as the taxpayer is not considered to own the property to be transferred. ...