Search - considered

Is equipment considered to be "available for use" for purposes of draft subsection 13(27) of the Income Tax Act (the "Act") in the following two situations? ... In the first situation, the equipment could be considered to become "available for use" in the particular taxation year by virtue of draft paragraph 13(27)(a) of the Act since the equipment was in fact used for the first time in that year in accordance with its intended purpose. In the second situation, the equipment could be considered to become "available for use" in the particular taxation year by virtue of draft paragraph 13(27)(d) of the Act since the time that it was capable of being used for its intended purpose preceded the time when it was first used. ...

Our position is unchanged from that stated in the February 21, 1983 letter in which we opined that a corporation deriving its income primarily from the provision of services would not be considered a "principal business corporation" within the meaning of paragraph 66(15)(h) of the Act, notwithstanding that the services provided are in respect of activities described therein. ... The determination would be one of fact which must be considered by reference to the various activities in which the corporation is engaged. All activities of the corporation throughout the relevant taxation year must be considered. ...

You also asked whether specific rehabilitation expenses such as specially equipped cars, computers, tuition fees, and books paid by the insurance carrier would be considered taxable benefits to the claimants. You were of the opinion that these expenses should be considered taxable or non-taxable in accordance with the taxability of the wage loss plans involved. ... It is a question of fact whether a wage loss replacement plan providing such benefits would be considered one of the types of plans mentioned in subparagraph 6(l)(f)(iii) of the Income Tax Act. ...

Further, for a 149(1)(l) entity, expenditures incurred in renovating a building used in its day-to-day activities would not be considered to relate to the entity's income from property. ... In computing the taxable income of the deemed trust, interest income is typically considered to be income from property and included in the calculation of that taxable income. ... Then, based on hypothetical facts, CRA provided comments on what might be considered to be currently deductible by the taxpayer in the calculation of its business income and what could reasonably be considered to relate to the period of construction. ...

For the purpose of subsection 126(2), would the Canadian corporation be considered to carry on business in the US? ... For the purpose of the foreign tax credit stated in subsection 126(2), would the Canadian corporation be considered to carry on business in the US? ... If a vendor of machinery, for example, provides to customers an engineer to supervise the installation of the machinery, this service would generally be considered to be incidental to the activity of selling the machinery; however, this type of service could in some cases be considered to be a significant activity on its own, depending on the machinery being sold, the nature of the installation service, and the terms of the contract with the customer. ...

Brother may claim the above-mentioned credits if he is considered to be the parent of Sister. ... Paragraph 252(1)(b) of the Act provides another way by which Sister might be considered a child of Brother. ... From the facts, it would appear that Sister would not be considered Brother's child, pursuant to paragraph 252(1)(b) of the Act. ...

Due to the nature of his stay in Austria, he may be considered a resident of both Canada and Austria for purposes of the Treaty ("dual residence"). To be considered a resident of Austria, it would generally be required that the individual be subject to tax in Austria on his world income. He should contact the Austrian tax authorities to determine his residence status while present in that country and performing his duties with the XXXXXXXXXX Where he is considered a resident of both countries, Article IV of the Treaty provides "tie-breaker rules" that will determine, for purpose of interpreting the Treaty, in which country he will be considered resident. ...

Question of fact for travel, leisure and recreational services, depending on whether the item is considered near-cash. 2. ... Response All of the above items would be considered cash or near-cash gifts and awards, and would therefore not be covered by the policy. The fair market value of such items would be considered to be a taxable employment benefit to the employees. ...

Cash is considered to be used principally in the business if its withdrawal would destabilize the business. ... Cash that is accumulated and is then depleted in accordance with the annual seasonal fluctuations of an ongoing business will generally be considered to be used in the business; however, a permanent balance in excess of the company's reasonable working capital needs will generally not be considered to be so used. ... Cash and near cash assets held to offset the non-current portion of long-term liabilities will generally not be considered to be used in the business. ...