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In our opinion the filing of an agreement pursuant to paragraph 78(1)(b) of the Act in respect of an unpaid amount owing by a Canadian resident debtor to a non-resident creditor residing in a country with which Canada does not have a tax treaty would not in and of itself result in the non-resident creditor being considered to carry on business in Canada. The opinion expressed herein is not an advance income tax ruling and, in accordance with paragraph 21 of information Circular No. 70-6R2 dated September 28, 1990, is not considered binding on the Department. ...

25 January 1991 External T.I. 9016915 F- Attribution Rules Unedited CRA Tags 74.1(2), 5-901691 Dear Sirs: This is in reply to your letter of July 20, 1990 asking if the proceeds on a life insurance policy would be considered substituted property such that the attribution rules would apply. Based on the facts given in your letter and on a subsequent telephone conversation (Baldwin 19(1) Is our opinion that the proceeds on the life insurance policy would be considered to be substituted property.  ...

Day   (613) 957-2136 November 2, 1989 19(1) We are writing in reply to your letter of August 30, 1989, wherein you requested our views as to whether or not a partnership would be considered a person for the purposes of section 54.2 of the Income Tax Act. ... " In view of the above, it is our opinion that a partnership would not be considered a person for purposes of section 54.2. ...

Robb   (613) 957-2744 January 29, 1990 19(1) Re:  Paragraph 84.1(1)(b) and subparagraph 129(1)(a)(i) of the Income Tax Act (the "Act") We are writing in response to your letter of December 15, 1989 in which you requested our views concerning the question of whether a deemed dividend under paragraph 84.1(1)(b) is considered to be a taxable dividend for the purposes of subparagraph 129(1)(a)(i) of the Act. In our view, a deemed dividend under paragraph 84.1(1)(b) would be considered to be a taxable dividend paid for the purposes of subparagraph 129(1)(a)(i) of the Act, provided that subsection 129(1.2) was not applicable. ...

Shea-DesRosiers (613) 957-8953 August 24, 1989 Dear Sirs: Re: Phantom Stock Plan This is in reply to your letter of July 5, 1989 wherein you request out opinion as to whether the phantom stock plan described in your letter might be considered a salary deferral arrangement. As stated at he 1988 Canadian Tax Foundation Conference, it is the Department's current position that where, on a specified date, the value of the phantom shares on that date will be paid to the employee, the plan will be considered a salary deferral arrangement, notwithstanding that the value on the payment date may be less than the value at the time such shares were granted. ...

We have further considered the matter as a result of the submissions made in our meeting and have also considered the material you left. ...

24 August 1989 Income Tax Severed Letter 5-8349- Phantom stock plan Unedited CRA Tags none Dear Sirs: This is in reply to your letter of July 5, 1989 wherein you request our opinion as to whether the phantom stock plan described in your letter might be considered a salary deferral arrangement. As stated at the 1988 Canadian Tax Foundation Conference, it is the Department's current position that where, on a specified date, the value of the phantom shares on that date will be paid to the employee, the plan will be considered a salary deferral arrangement, notwithstanding that the value on the payment date may be less than the value at the time such shares were granted. ...

In our opinion the filing of an agreement pursuant to paragraph 78(1)(b) of the Act in respect of an unpaid amount owing by a Canadian resident debtor to a non-resident creditor residing in a country with which Canada does not have a tax treaty would not in and of itself result in the non-resident creditor being considered to carry on business in Canada. The opinion expressed herein is not an advance income tax ruling and, in accordance with paragraph 21 of Information Circular No. 70-6R2 dated September 28, 1990, is not considered binding on the Department. ...

7 January 1991 Income Tax Severed Letter- Proceeds on a Life Insurance Policy—Substituted Property Unedited CRA Tags 248(5), 74.1(2) Dear Sirs: This is in reply to your letter of July 20, 1990 asking if the proceeds on a life insurance policy would be considered substituted property such that the attribution rules would apply. Based on the facts given in your letter and on a subsequent telephone conversation (Baldwin XXX it is our opinion that the proceeds on the life insurance policy would be considered to be substituted property. ...

ANSWER Section 74.4 requires that one of the main purposes of the transfer may reasonably be considered to be to reduce the income of the individual and to benefit a designated person, as defined in subsection 74.5(5) of the Act. ... The Department is of the opinion that the right conferred upon a designated person (as defined by subsection 74.5(5) of the Act) to share in dividends or capital appreciation of a corporation is considered to be a benefit for the purposes of subsection 74.4(2) of the Act. ...