Search - considered

Finally, in order for eligible moving expenses to be considered "as or on account of moving expenses incurred in respect of an eligible relocation", they must fall within the limitations in subsection 62(1) of the Act. ... Where it is determined that a taxpayer does not ordinarily reside at a new residence, the move to that residence would be considered temporary and would not be treated as a separate move. ... Where it is determined that the taxpayer ordinarily resided at House A, House B and House C, each move would be considered a separate move (one move to House B and a separate move to House C). ...

2) Is the bonus annuity, representing interest earned, considered pension income or investment income earned in Canada? ... Specifically, you wish to know: (1) is the guaranteed annuity of $XXXXXXXXXX taxable as income to the Canadian resident or is considered a return of capital? (2) Is the bonus annuity considered investment income or pension income? ...

2010 Ruling 2009-0352121R3- Status of 149(1)(l) entity created by a Charity Unedited CRA Tags 149(1)(l), 149.1(2)(a), 188.1(1)(b) Principal Issues: Two rulings: (1) Whether Newco will be considered to be organized and operated as a 149(1)(l) entity. (2) Whether the Charity will not be considered to be carrying on a business by virtue of the consignment sale arrangement. Position: Rulings given: (1) Newco will be considered to be organized as a 149(1)(l) entity. (2) The Charity will not be considered to be carrying on a business solely by virtue of the consignment sale arrangement. ... For purposes of paragraphs 149.1(2)(a) and 188.1(1)(b) of the Act the Charity will not be considered to be carrying on a business solely by virtue of the consignment sale arrangement described in paragraph 12. ...

Cash and cash equivalent are considered to be used principally in a business if their withdrawal would cause the destabilization of the financial aspect of the business. 3. ... The cash balances which accumulate and which are, thereafter, used in accordance with annual seasonal fluctuations of a permanent business will usually be considered used in a business, but a continuous balance which exceeds the reasonable working capital needs of a corporation will not usually be considered used to this end. 5. ... The CRA is also of the opinion that cash or cash equivalent which is only used to pay the current portion of long term debt is not usually considered to be used in a business. ...

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. ... Further, that paragraph indicates the requirement is considered to have been met when the person is actively engaged in the management and/or day-to-day activities of the farming business. ... Some of the criteria which should be considered in making this determination are set out in Interpretation Bulletin IT-322R. ...

Paragraph 37(8)(b) of the ITA states that SR&ED activities undertaken by a taxpayer that may lead to or facilitate an extension of the taxpayer's business, shall be considered related to the taxpayer's business. ... If USCo is Canco's only client and all income earned by Canco is from the SR&ED activities, then the SR&ED activities would be considered to be related to Canco's business. ... Ownership of rights in intellectual property or rights to use the SR&ED would be an important factor to be considered when ruling on this matter. ...

It should be noted that for purposes of the Act, life insurance corporations are considered to be public corporations. ... If the corporation is part of a group of related corporations, the combined services of their employees and the combined salaries and wages paid must be considered in making this determination. ... Where the employees have the majority of the voting shares, an employee will be considered a "designated shareholder". ...

Reasons: (1)The legal basis for our position, outlined in the 1994 and 1995 TEI (E9410400 and E9510220), was not presented and accordingly not considered by the court in arriving at the decision. ... The amounts of the cheques themselves are not necessarily included in capital only the resultant overdraft that would have arisen had the cheques been honoured on the day they were delivered; the day that payment was considered to have been made. ... For purposes of Part I of the Act, "Generally accepted accounting principles" (GAAP) and section 9 are considered the first step in working towards income for tax purposes. ...

Principal Issues: 1)Are employees considered to be required under the contract of employment to pay motor vehicle expenses if their contract is silent on the issue? ... Although the amounts of the prescribed limits are generally accepted as reasonable, those limits are not considered to define "reasonable. ... This would be the case, by virtue of subparagraph 6(1)(b)(vii.1), if the allowance is considered to be "reasonable. ...

If the indebtedness considered genuine, attribution would be applicable following forgiveness. ... Where a note is accepted with respect to the disposition of property, the original debt (i.e., an amount payable for property) is considered to exist where the note is considered to represent a conditional payment.  ... The final alternative which we have considered occurs where the demand note in its original form is forgiven by the transferor. ...