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Where the payments, however, have been directed into a bank account or other investment in the child name and the investment can be readily identified as belonging to the child the investment income earned on that account or that investment would be considered income of the child. ... It is our opinion that, under the circumstances described above, the investment income accruing to the policy would be considered income of the child. ...

It is our view, therefore, that the cost of both dual and solo flying time while under instruction should be considered as an eligible tuition cost. In contrast, the cost of flying time while not under instruction is not to be considered even though the fees were paid to a qualifying educational institution. ...

Your concern is whether section 245 ("GAAR") would be applicable, and if not, would the farm land in question be considered to be capital property in the child's hands. ... Assuming that, for purposes of subsection 73(3), the property in question would be qualified farm property and that neither the child nor the transferor has a history of real estate transactions that could taint these transactions as an "adventure in the nature of trade" that would bring the realized gains into income, it is our opinion that the farm land could be considered to be capital property in the hands of the child. ...

Commencing January 1, 1989, the total cost of buying back past service including the interest element will be considered a past service contribution to the RPP for purposes of paragraph 8(1)(m) of the Income Tax Act (the "Act") regardless of whether or not the interest payment is broken out separately from the total payment. ... Beginning in 1989, any previously non-deductible instalment interest paid to the RPP in 1988 and previous years on past service elections made after November 12, 1981 will be considered as non-deductible pension contribution carried forward under subsection 8(8) of the Act and will be deductible in future years subject to the limit under paragraph 8(1)(m) of the Act. ...

The Court in Marconi considered such factors as the time and effort expended on purchasing investments and the large scale of investment activity of the taxpayer in determining that the income from the investments was income from an investment business. The fact that the funds invested by the taxpayer in Marconi were derived from the sale of capital assets and the fact that they were being set aside for the purchase of new capital assets were not considered relevant in the determination of whether the interest income there from constituted income from property or income from a business. ...

You have expressed the view that the retainer should be included in income by virtue of Section 9 of the Income Tax Act if it can be determined that the 24(1) can be considered as carrying on a business for profit or with a reasonable expectation of profit. ... Per diem allowances received by a 24(1) are not required to be included in income unless, as you noted above, the 24(1) can be considered as carrying on a business for profit or with a reasonable expectation of profit.  ...

That paragraph states that a transfer of property as a consequence of a disclaimer, release or surrender by a person who was a beneficiary under the will or other testamentary instrument or on the intestacy of a taxpayer shall be considered to be a transfer as a consequence of the death of the taxpayer. 2.     Where the surviving spouse reaches a settlement with the executors and beneficiaries of the estate that property in the deceased's estate will be transferred to the surviving spouse in consideration of a release of his or her rights to make a claim under the FLA for an equalization of net family property, it is our view that the transfer would not be considered a transfer as a consequence of the death of the deceased. ...

M.N.R. 91 DTC 211 Factors to be considered would include the location of the books and records, where the Directors meet, where day to day management and control is exercised, where major business transactions are carried out, where employee files are maintained and major Personnel and Payroll decisions are made, and where one would sue if legal action were being contemplated. Finally, we note that representatives of the 24(1) were advised by us in a letter dated May 30, 1988 that "a corporate entity will be considered to reside in the place in which the control and management of the entity is exercised and such a determination will depend upon the relevant facts of each case. ...

While these guideline may be useful in most cases, other factors may also effect the determination of whether or not any particular place can be considered "remote" in this context.  ... If you have a particular situation in which it is not clear whether or not a particular place is considered remote, you may wish to forward all the relevant details to the local district taxation office in order to obtain their view. ...

You enclosed a copy of a booklet describing the 24(1)  Our response is based on the following assumptions concerning the employee share purchase plan: 24(1) 24(1) We would first like to point out that share purchase arrangements for employees are generally subject to the provisions of section 7 of the Act to the extent that the shares are issued by or acquired from the employer corporation or a corporation with whom the employer does not deal at arm's length and that any benefit calculated thereunder is considered to be remuneration from employment. 24(1) With respect to the third criteria, it is our view that the time at which the agreement is made is the effective date at which the corporation is committed to issuing the shares specified in the agreement.  ... We caution that the foregoing represents our considered opinion only and is not binding on the Department. ...