Search - considered

Consequently a deemed disposition can not be considered a "sale" of securities for purposes of Regulation 230(2). ... As regards "cancels" a deemed disposition of a security would not be considered a cancellation of the security for purposes of Regulation 230(3). ... Consequently, on a deemed acquisition by a trust or corporation of its securities, the trust or corporation would for purposes of Regulation 230(3) be considered to have acquired securities it issued. ...

Such a request entails the provision of all related documents for our review as well as an Identification of all of the specific provisions of the Income Tax Act (the "Act") in respect of which the request is to be considered. A ruling request must also contain a statement as to whether any of the Issues involved are to the best of a taxpayer's knowledge being considered by a District Office and/or Taxation Centre in connection with a tax return already filed, or if any of the issues are under objection. ... If the amount is in satisfaction of an obligation by the employer to the employee arising as a result of his employment, the amount is usually considered employment income unless it. can be considered a retiring allowance. ...

2 June 1989 Income Tax Severed Letter 5-7633- Source of income for purposes of subsection 126(1) of the Income Tax Act Unedited CRA Tags 126(1) Dear Sirs: This is in reply to your letter of March 3, 1989 wherein you requested our opinion as to whether the consideration to be received by your client with respect to a non-competition agreement would be considered foreign source income for purposes of subsection 126(1) of the Act in the following situation: 1. ... You requested our opinion as to whether the consideration received with respect to the non-competition agreement would also be considered U.S. source income for purposes of that subsection. ... Since the shares of the U.S. subsidiary will not be sold through a securities or stock exchange, other factors, such as the place where negotiations and execution of the agreement took place, location of the shares, place of payment and any relevant provisions in the governing corporation statutes, would have to be considered in order to establish the place where the sale occurs. ...

A business would not be considered to have commenced if there was no reasonable expectation of profit. ... Therefore such expenditures are considered to be of a capital nature. ... It is therefore our opinion that the better view is that expenditures relating to the coaching of athletes be considered a current expense and not a capital expenditure. ...

You would like to know if these charges can be paid to the RRSP without any tax consequences or whether the payment of these charges would be considered a gift to the RRSP. ... If such amounts are paid by someone other than the annuitant of the RRSP or the spouse of the annuitant, the payments will be considered to be gifts to the RRSP. ... In this case, amounts were paid into the RRSP without being considered premiums or gifts. ...

If the Swiss company is, by virtue of negotiation with the Swiss tax authorities or otherwise, not taxed in Switzerland on its world-wide income, it should be considered to be a resident of Switzerland for purposes of the Convention. ... However, if Swissco is, by virtue of negotiation with the Swiss tax authorities, not liable to taxation in Switzerland on its world-wide income, it would appear that Swissco should not be considered a resident of Switzerland for the purpose of the Convention. Even if such a corporation were considered resident in Switzerland for purposes of the Convention, the Department may consider applying the general anti-avoidance provisions to deny the benefits of the Convention to the corporation if evidence shows that there is an improper use of the Convention. ...

Where the situs of the payer (generally the principal place of business) is on the reserve, the receipt of that income by a status Indian, wherever he or she may be, is considered exempt income. ... We note, however, that a number of changes to this bulletin are being considered. ... The situs of the payer in this case would be the Head Office of the XXX which presumably is not on a reserve anywhere. f) Interest earned on Canadian government Treasury Bills is considered taxable in the hands of status Indians as the situs of the payer, the Government of Canada, is off the reserve. g) Interest earned and withdrawn from an RRSP is taxable in the hands of a status Indian as RRSP's are trusted and from information received, we understand that the trustees are generally situated in a Head Office location which is not on a reserve. ...

Generally, a brokerage firm will act as the intermediary between the short lender and the short seller, however, for the purpose of this discussion, the brokerage firm, as the short seller, is considered to be acting as principal and is acquiring the securities directly from the short lender on its own behalf. ... The borrower, however, is considered to have acquired the shares and the consideration paid to the lender is the obligation of the borrower to deliver identical shares to the lender at some time in the future. ... Consequently, the short seller is considered to have acquired the shares from the lender and to have then sold them and, if these transactions form a constituent part of the business activity of the particular taxpayer, any resulting income would be included in the income of the short seller for tax purposes pursuant to section 9 of the Act. ...

Will the sales tax paid by B be considered an additional capital contribution to the partnership and be added to the ACB of B's partnership interest? ... For purposes of the SSTA, where the purchaser is a partnership, the individual partners rather than the partnership are liable for the tax to the extent that each partner is considered to have acquired an interest in the property. ... The payment of the tax by the partnership would be a payment of a personal liability of partner B and would be considered a distribution of property by the partnership to partner B. ...

Will the general partners be considered limited partners by virtue of paragraph 96(2.4)(b) of the Act for the purposes of the "at-risk rules" in subsection 96(2.2) of the Act? ... Consequently, the general partners of that partnership would not be considered limited partners by virtue of paragraph 96(2.4)(b) of the Act. ... Therefore, the general partners will be considered to be limited partners by virtue of paragraph 96(2.4)(b) of the Act. ...