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In this regard, paragraph 2 of IT-436R states that conditional payment means that the "vendor is considered to have accepted the note as evidence of or security for the debt and the creditor's rights to recover the original debt owing is merely suspended until such time as the maker of the note fails to honour the note" and absolute payment means that "the vendor is considered to have accepted the note as full or actual payment of the debt, and, as such accepts the note at the risk of the note being dishonoured with the only legal recourse being an action against the maker of the note for failure to honour the said note. ... " Accordingly, unless there is an indication in the relevant agreements or other documentation suggesting that the promissory notes were accepted as absolute payment, our view is that they should be considered to have been received by the Taxpayer as conditional payment. ... If it is determined that the Taxpayer accepted the promissory notes as absolute payment of the trade accounts, it is our view that these accounts will be considered to have been settled at that time and the income tax treatment outlined in paragraph 14 of IT-442R will apply. ...

Disclaiming beneficiary will not be considered to have received any proceeds of disposition for purposes of section 106 & 107; disclaimed interest will be considered to have been received "as a consequence of death for the purpose of 248(8); donation will qualify under 118.1; GAAR is not applicable. ... " Purpose of Proposed Transaction The purpose of the proposed transaction is to permit the fair market value of a portion of the Residuary Estate to be considered a charitable gift for income tax purposes. ... Beneficiary A will not be considered to have received any proceeds of disposition for the purposes of sections 40 and 106 as a result of executing the disclaimer described in paragraph 9 above. ...

One of the conditions that must be met for real property of an individual to be considered a qualified farm property within the meaning of subsection 110.6(1) of the Act, is that the property has been used in the course of carrying on the business of farming in Canada. Whether a property is considered to have been used in the course of carrying on the business of farming is dependent on when the property was last acquired by the individual. ... In such circumstances, your father would be considered to have disposed of the transferred property by virtue of subsection 74.2(2) of the Act for purposes of the capital gains deduction. ...

Principal Issues: Whether certain relocation expenses paid by the employer would be considered a taxable benefit to the employee. ... A detailed list of which items when paid by an employer are not considered to result in a taxable benefit can be found in the Employer's Guide to Payroll Deductions- Taxable Benefits T4130. This list indicates that fees paid by an employer for reasonable temporary living expenses while waiting to occupy the new, permanent accommodation will not be considered a taxable benefit to the employee. ...

One of the conditions that must be met for real property of an individual to be considered a qualified farm property within the meaning of subsection 110.6(1) of the Act, is that the property has been used in the course of carrying on the business of farming in Canada. Whether a property is considered to have been used in the course of carrying on the business of farming is dependent on when the property was last acquired by the individual. ... Some of the criteria that should be considered in making this determination are set out in Interpretation Bulletin IT-322R. ...

Our Comments As requested, we have considered your situation and have provided general comments, which may be of some assistance. ... In addition, as indicated in paragraph 18 of the bulletin, the gain or loss on the "short sale" of shares is generally considered to be on income account. ... However, based on the limited facts provided, and assuming that the election under subsection 39(4) of the Act is not applicable, it would appear, in light of the above factors, that the gains or losses in your situation would more than likely be considered on income account. ...

(and)...where the succeeding business operation of a corporation is of the same kind, but ownership of the corporation has changed, the two operations will normally not be considered the same business if the first business ceases operation before the second operation begins. ... The sale of all fixed assets of a business is not considered a mandatory requirement for the cessation of a business if it can otherwise be established to have ceased. ... In our view, in the situation you describe, it is questionable whether the loss business would be considered to have been carried on after the acquisition of control. ...

3- A clarification of "source of income" used in IT-322R. 4- What should be considered in determining whether or not there is a reasonable expectation of profit in a particular situation? ... One of the factors to be considered, as set out in paragraph 7(g) of the bulletin, is the historical record of annual revenue and profits or losses relevant to the operation of the woodlot, and the growth of the gross revenue and profits over time. ... As stated in paragraph 2 of IT-322R, "in order for a farming activity to be considered a source of income, it must be a business carried on with a reasonable expectation of profit. ...

However, in the particular situation being contemplated we have previously stated: "In the McDonald case [98 DTC 2151], none of the work sites were considered as a place of business to which the taxpayer reported regularly. ... Thus, the travel by any particular DM or XXXXXXXXXX between his or her home and any of these other regular work locations should likely be considered personal. ... Chrapko considered the treatment of a racetrack employee who resided in Niagara Falls and who worked 75% of his time at two racetracks in Toronto and 25% at another racetrack in Fort Erie. ...

Position: Units and shares are considered to be acquired on the date the units and shares are delivered which is typically the settlement date. ... If a broker pays the vendor before the Settlement Date, this will only be considered an advance and the transaction will not generally be considered to be completed until the shares are delivered to the purchaser. ... However, because it appears that purchase reversals could involve a legal transfer of units or shares in some situations such that a new Settlement Date is involved, the recording of these should be considered on a case-by-case basis. ...