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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. ...

9 January 1991 Ruling 903543 F- Transfer of Property to Corporation Unedited CRA Tags 39(1)(a), 54 adjusted cost base, 54 capital property, 55(3)(b), 85(1) Dear Sir: Re: Request for Technical Interpretation We are writing in response to your letter of December 5, 1990 wherein you requested our comments on whether the gain on the sale of transferred assets, which were capital property of the transferor, by the transferee immediately after the transfer would be considered a capital gain or income from an adventure or concern in the nature of trade in the following hypothetical situation: 1.      ... The comment expressed is not an advance income tax ruling and is not considered binding on the Department, in respect of any taxpayer, in accordance with paragraph 21 of Information Circular 70-6R2 dated September 28, 1990. ...

The Act also does not contain a specific definition of tuition fees; however the Department has set out in paragraph 26 of Interpretation Bulletin IT-516 items which are considered eligible tuition fees.  It is our position that the GST would not be eligible for the purpose of computing the tuition tax credit because the GST would be, in this case, a tax on fees rather than an additional tuition fee and the GST is not similar to any of those items which are considered eligible. ...

When debt obligations or shares are sold together with their accrued interest or declared dividends those amounts would be considered by prudent parties in the determination of the properties' price.  Accordingly these amounts must also be considered in determining such properties' fair market values. ...

9 August 1991 External T.I. 911655 F- Child Tax Credit and the Equivalent-to-Married Tax Credit Unedited CRA Tags 122.2(2)(b), 118(1)(b) Subject: Child Tax Credit and the Equivalent-to-Married Tax credit This is in reply to your memorandum of June 17,1991 in which you asked us to consider two situations involving the above-noted tax credits. 24(1) As support for this position, you have referred to paragraph 17 of Information Circular 80-3R2 entitled "Child Tax Credit" which indicates that a spouse is still considered to have resided with the claimant at December 31 if separated only for business, employment, medical or educational reasons. ... In the situation where an individual's husband is 24(1)   overseas, we believe that he should be considered to reside with his spouse unless he can establish otherwise.  ...

The deemed dividend resulting from the redemption of the shares of the private Canadian Corporation is considered to be a taxable dividend under subsection 89(1)(j) of the Act and would be included in computing income of the trust. ... As the deemed dividends are the result of a transaction subsequent to the death of the spouse they cannot be considered to be paid or payable to the spouse in the year.  ...

The Department's view with respect to some of the factors to be considered in this regard can be found in Interpretation Bulletin IT-479R, entitled "Transactions in Securities" and Interpretation Bulletin IT-114, entitled "Discounts, Premiums and Bonuses on Debt Obligations". Where the whole course of a taxpayer's conduct indicates that a)     in security transactions the taxpayer is disposing of securities in a way capable of producing gains and with that object in view, and b)     the transactions are of the same kind and carried on in the same way as those of a trader or dealer in securities, the proceeds of sale will normally be considered to be income from a business and, therefore, on income account. ...

Where an employer acquires an interest in a life insurance policy that may reasonably be considered to fund benefits to be received by an employee upon his retirement or upon substantial change in services rendered, the arrangement would be subject to the RCA rules by virtue of subsection 207.6(2) of the Act.  ... All the factors of a particular situation would have to be considered to determine whether the RCA rules apply or not. ...

Humenuk   (613) 957-2135 July 25, 1989 Dear Sirs: Re:  Attribution Rules We are responding to your letter dated May 19, 1989, in which you ask whether the repayment of a loan in kind is considered a transfer within the meaning of subsection 74.1(1) of the Income Tax Act (the Act). ... X is not considered a transfer it is our view that subsection 73(1) of the Act does not apply to Mrs. ...

Pursuant to paragraph 96(1)(f) of the Act, the income of the partnership is considered to retain its identity when flowing through to the partners. ... Subparagraph 115(1)(b)(iv) of the Act describes the condition which would require shares of a public company to be considered "taxable Canadian property":      "a share of the capital stock of a public corporation if...not less than 25% of the issued shares...belonged to the non-resident person, to persons with whom the non-resident person did not deal at arm's length... ...