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Whether the Trust Fund would be considered as an employee benefit plan ("EBP") or retirement compensation arrangement ("RCA") as these terms are defined under subsection 248(1) of the Act. ... Alternatively, it is arguable that the surplus received by the Trust Fund from the RPP may be considered as a superannuation or pension benefit and would be included in the income of the Trust Fund under paragraph 56(1)(a) of the Act. ... Consequently, provided that the employer and the RPP deal at arm's length, and provided that the payment by the RPP cannot reasonably be considered to be made on behalf of the employer it is our view that the Trust Fund would not be an EBP or an RCA but would be a trust which is taxable under Part I of the Act. ...

Co. is considered a resident of Canada, under the central- management- and-control concept, for the purposes of the Act. 4. ... Co. is considered to be a resident, for purposes of the Convention, of the U.S. only. ... However, since a deemed disposition under section 48 of the Act is considered to be an alienation of property for the purposes of the Convention, paragraph 4 of Article XIII of the Convention would exempt U.S. ...

You asked whether certain fees charged to a trust governed by a RRSP, RESP or RRIF could be considered expenses and, if paid from a source outside the plan, deductible from income. ... Reasonable administration fees paid by an annuitant to the trustee of a RRSP or to the carrier of a RRIF are considered to be deductible expenses in computing income from property. ... Expenses related to investments include fees for the acquisition or transfer of investments, preparation of title documents, investment.../2 000096 counselling, commissions, brokering, or the like, Furthermore, if a RRSP annuitant reimburses the trust for such costs, the amount would be considered a contribution to a RRSP and would be included in calculating the maximum deduction permitted by subsection 146(5) of the Income Tax Act. ...

Reasons: Where property is received is part of the severance package on termination of employment, the fair market value of the property is considered part of the retiring allowance received by the employee. ... Since the definition of amount includes the value in terms of money of a right or thing, we have previously taken the position that the fair market value of specific property (e.g., shares, jewelry, life insurance policies) received on or after retirement or in respect of a loss of office or employment would be considered part of the employee's retiring allowance and would be included in the employee's income under subparagraph 56(1)(a)(ii) of the Act. We are of the view that the fair market value of an automobile that is transferred to an employee as part of the employee's severance package resulting from a loss of employment or in recognition of long service on the employee's retirement would be treated in the same manner as the above properties and would be considered part of the employee's retiring allowance for purposes of the Act. ...

Are wood pellets manufactured from “wood waste” considered an “eligible waste fuel” for the purposes of Class 43.1? ... Wood pellets manufactured from inputs meeting the definition of “wood waste” in subsection 1104(13) of the Regulations would be considered an “eligible waste fuel” for the purposes of subparagraph (d)(ix) of Class 43.1. ... You also wish to know whether wood pellets manufactured from “wood waste” will be considered an “eligible waste fuel”. ...

S Corporations Although the earnings of an S Corporation that are attributable to a PE in Canada may be considered to be derived by the shareholders of the S Corporation, the CRA's current practice is to treat the S Corporation as a resident of the U.S. for purposes of the Treaty. ... Limited Liability Companies (LLCs) Article IV(6) of the Treaty states: An amount of income, profit or gain shall be considered to be derived by a person who is a resident of a Contracting State where: (a) The person is considered under the taxation law of that State to have derived the amount through an entity (other than an entity that is a resident of the other Contracting State); and (b) By reason of the entity being treated as fiscally transparent under the laws of the first-mentioned State, the treatment of the amount under the taxation law of that State is the same as its treatment would be if that amount had been derived directly by that person. ... However, the LLC may claim treaty benefits on behalf of its members in respect to items of income, profit or gain that the member is considered to have derived pursuant to Article IV(6) of the Treaty. ...

Question: For Canadian tax purposes, any distribution made from USLLC to USLP would generally be considered dividends. ... Instead, from the point of view of Canada, any amounts distributed from USLLC to USLP would generally be considered paid as dividends. ... In the hypothetical situation presented, Canco would be considered to hold 99.9% of the shares of USLLC that are held by USLP. ...

Reasons: Prepayments can reasonably be considered to relate to the whole term of the debt obligation. 2005-015607 XXXXXXXXXX R. ... These amounts are considered prepaid interest and, provided the other requirements of paragraph 20(1)(c) are satisfied, are deductible in computing a taxpayer's income from business or property over the period that the interest rate is to be reduced, or over the period that would have been (but for the prepayment) the remaining life of the debt obligation. ... In our view, a prepayment penalty can 'reasonably be considered to relate to' interest that would have been paid for all the years that the obligation would have been outstanding if it had not been repaid earlier. ...

For the purpose of this question, assume that, under the taxation laws of the United States, the ULC is considered to be a branch of USCo and, therefore, the interest payable on the Debt is not recognized as an item of income by USCo. ... Question Does Article IV(7)(b) of the Treaty apply to the interest on the Debt that is deemed to have been received by USCo pursuant to paragraph 78(1)(b) of the Act such that it is considered, for the purposes of the Treaty, not to have been paid to or derived by USCo? ... Accordingly, it is our view that Article IV(7)(b) would apply with the result that the interest on the Debt that is deemed to be received by USCo pursuant to paragraph 78(1)(b) would be considered not to be paid to or derived by USCo for the purposes of the Treaty. ...

You have asked us to provide comments as to whether the travel between the 1st location and the 2nd location at the start of the work day would be considered personal or employment-related travel. ... Any location at or from which an employee regularly reports for work and performs the duties of employment is generally considered a RPE for that employee. ... It is also unlikely that such a location would be considered a point of call. ...