Search - considered

You have asked if the payment of the sick leave credits would be considered to be a "retiring allowance" for the purposes of the tax-deferred roll-over to a registered retirement savings plan contained in paragraph 60(j.1) of the Income Tax Act (the "Act"). ... Consequently, they would not be considered to have retired for purposes of the Act. You have also asked us to confirm that severance payments paid to members of council by the City of XXXXXXXXXX before the creation of New City will be considered to be retiring allowances even though they may be elected to the council for New City. ...

Principal Issues: Whether retroactive pay equity payments would be considered "qualifying amounts" under paragraph (a) of the definition of this term. ... As requested, we have considered the situation outlined in your letter and have provided some comments below. ... You wish to know whether the payments made either as a result of revised rates agreed to by the Committee or as a result of revised rates decided by the arbitrator would be considered QRLSP. ...

Reasons: The ownership of the garage would not prevent an individual from participating in the HBP, since the garage would generally not be considered to be a housing unit for these purposes. ... A person is not considered a first-time home buyer if, at any time during the period beginning January 1, 1995 and ending 31 days before any HBP withdrawal in 1999, the individual or the individual's spouse had an owner-occupied home. An individual will be considered to have an owner-occupied home where the individual owns (jointly or otherwise) a housing unit and the housing unit is inhabited by the individual as the individual's principal place of residence at that time. ...

If XXXXXXXXXX is employed by the municipality, he meets the first condition, and if the honorarium is considered employment income, he meets the second condition. ... In our view, the situations described by XXXXXXXXXX would be considered emergencies as envisaged by proposed paragraph 8(1)(a) of the Act, and there could also be other situations that would be considered to meet the criteria. ... Providing he is considered a volunteer involved with emergency situations, he should be allowed the deduction. ...

You requested our views as to whether the following items would be considered the “cost of supplies that were consumed,” for purposes of subparagraph 8(1)(i)(iii) of the Act. 1. ... Similarly, microphone headsets (portable microphones) would also likely not be considered supplies. ... However, as stated in paragraph 9(e) of IT-352R2, exercise books and publications are not considered supplies. ...

As indicated in paragraph 3 of IT-365R2, an award of damages for personal injury or death, that is payable in periodic payments, is not considered to be an annuity contract and the related payments are not considered to be annuity payments for the purposes of the Act. Such payments are considered to be non-taxable in the hands of the claimant. Consistent with these comments, when an award of damages is payable in periodic payments (a lump sum damages payment with respect to the periodic payments is not involved) under an arrangement described in paragraph 5 of IT-365R2 that is a structured settlement, the periodic payments are also considered to be non-taxable. ...

Principal Issues: whether payments out of a trust to a custodial parent can be considered income of the child on whose behalf property was contributed by the non-custodial parent Position: no Reasons: attribution would apply to any amount that is otherwise considered to be income of the child but only those amounts paid by the trust to the custodial parent that relate to a specific expenditure on behalf of the child can be considered income of child which is attributed to the non-custodial parent XXXXXXXXXX 991092 A. ... Assuming that the terms of the trust provide that the child is entitled to receive the income of the trust, you ask whether amounts distributed by the trust to the parent who has custody of the child (the "custodial parent") on account of the non-custodial parent's obligation to provide child support can be considered to have been paid to the child for the purposes of subsections 104(6), (13) and (24) of the Income Tax Act (the "Act") Your request appears to relate to either a proposed or completed situation involving specific taxpayers. ...

The CRA ruled that the payments of periodic non-participating interest would not be considered to be “participating debt interest” if, at or before the time of such payment, no Additional Amount had been paid or become payable. However, all payments of periodic non-participating interest would be considered to be “participating debt interest” subject to withholding tax once an Additional Amount is paid or becomes payable. ... All interest payments would then be considered to be “participating debt interest” as of the time a contingent or dependent amount is paid or payable. ...

Position: To the extent that only subsection 15(1) of the Act is relevant in the analysis as to whether a benefit is being conferred under paragraph 246(1)(a), such a benefit would generally not be considered to be taxable income earned in Canada, as it would not be included under subsection 2(3) and Division D of Part I of the Act. ... Whether the amount of the benefit can be considered in computing the taxpayer’s taxable income earned in Canada for purposes of paragraph 246(1)(a) of the Act will depend, among other things, on the nature of the benefit being conferred. In the scenario provided, to the extent that only subsection 15(1) of the Act is relevant in the analysis as to whether a benefit is being conferred under paragraph 246(1)(a), such a benefit would generally not be considered to be taxable income earned in Canada, as it would generally not be included under subsection 2(3) and Division D of Part I of the Act. ...

In addition, an unincorporated business/enterprise directly operated by an Indian band is not an eligible employer as the band itself would be considered the employer. Reasons: All Indian bands (First Nations) created under the Indian Act meet the criteria to be considered municipal or public bodies performing a function of government in Canada under paragraph 149(1)(c). ... In addition, an unincorporated business or enterprise directly operated by an Indian band is not an eligible employer because the band itself would be considered the employer. ...