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As a result, this amount is considered to be an amount excluded throw the taxpayers' income by virtue of subparagraph 6(1)(a)(i) of the Act. The amount in (4) above is considered to be ordinary remuneration and included in the taxpayers' income in the year of receipt pursuant to subsection 6(3) of the Act as stated in paragraph 5 of IT-337R2. ...

It is the Department's view that persons will be considered as having collectively acquired control of a corporation where there is evidence that they have a common link or interest or they act together to control the corporation. ... The comments expressed are not advance income tax rulings and are not considered binding on the Department in respect of any taxpayers, in accordance with paragraph 24 of Information Circular 70-6R dated December 18, 1978. ...

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. ...

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. ...

As stated in the Department of Finance's Information Release dated June 30, 1988, (copy of which is attached) an amendment has been proposed whereby benefits derived from counselling services received upon retirement or termination of office or employment will not be considered as taxable benefits. The draft legislation sets out the time in which such services must be provided in order to be considered as a non-taxable benefit. ...

Subsection 245(2) may have application in any situation where a transaction or series of transactions would result in a "tax benefit", within the meaning of that expression in subsection 245(1) of the Act, unless the transaction or transactions may reasonably be considered to have been undertaken or arranged primarily for bona fide purposes other than to obtain the tax benefit. In addition subsection 245(2) will only apply if it may reasonably be considered that the transaction would result in a misuse of the provisions of the Act or an abuse of the provisions of the Act read as whole. ...

Furthermore, we direct your attention to paragraph 8 of Interpretation Bulletin IT-337R2 wherein it states that to be considered as a retiring allowance and a deductible outlay to the payer, a non-gratuitous amount must be reasonable in the circumstances having regard particularly to the length of service involved, its relationship to the remuneration received for those years of service, and the value of pension and other retirement benefits to which the retiree is entitled in respect of that service. ... Based on the limited information provided, and assuming that the obligation is not funded either directly or through an insurance policy, it is our opinion that the described arrangement would not be considered an "employee benefit plan", a "retirement compensation arrangement" or a "salary deferral arrangement" as defined under subsection 248(1) of the Act. ...

You are concerned that either the preference shares of B or the loan to B will not be considered in the calculation of active business assets of A because of the operation of clause 110.6(l)(c)(ii)(A) and paragraph 110.6(14)(f) of the Act. ... As you noted, if corporation A acquires the property directly, the asset is considered a qualified active business asset. ...

In paragraph 31 of IT-64R2, the statement was made that paragraph 251(5)(b) will not be considered to apply to a right of first refusal or a "shotgun arrangement". ... In IT-419, the Department states that paragraph 251(5)(b) will not be considered to apply to a right of first refusal. ...

It is our general position that the interest free loan referred to in the above described situation would not result in the application of subsection 80.4(1) of the Act and would not be considered as a contribution by the employer to the Plan. However, it should be noted that the determination of whether a loan may or may not be considered as a contribution to an RCA trust can only be made after a detailed examination of all the relevant terms and conditions in each specific situation. ...