Search - considered

You have advised us that to the best of your knowledge and that of the taxpayer involved none of the issues involved in this ruling request: (a) is in an earlier return of the taxpayer or a related person; (b) is being considered by a tax services office ("TSO") or taxation centre in connection with a previously filed tax return of the taxpayer or a related person; (c) is under objection by the taxpayer or a related person; (d) is before the courts or, if a judgement has been issued, the time limit for appeal to a higher court has not expired; or (e) is the subject of a ruling previously issued by the Directorate. ... For the purposes only of applying paragraph 88(1)(c) to determine the cost of the Target Partnership A Units that were owned by TargetSubA on the Take-Up Date, following the amalgamation described in paragraph 17 above, pursuant to subsection 88(4), (i) Target Amalco will be considered to be the same corporation as, and a continuation of, Target, for the purposes of applying the reference in subparagraph 88(1)(c.4)(iii) to "the subsidiary"; and (ii) Target Amalco will be considered to be the same corporation as, and a continuation of, TargetSubA, for the purposes of determining whether Target Partnership A Units were capital property owned by Target Amalco on the Take-Up Date, and for the purposes of determining when AcquisitionCo last acquired control of Target Amalco. ... For the purposes only of applying paragraph 88(1)(c) to determine the cost of the Target Partnership A Units that were owned by TargetSubA on the Take-Up Date, following the amalgamation described in paragraph 18 above, pursuant to subsection 88(4), (iii) New Amalco will be considered to be the same corporation as, and a continuation of, Target, for the purposes of applying the reference in subparagraph 88(1)(c.4)(iii) to "the subsidiary"; and (iv) New Amalco will be considered to be the same corporation as, and a continuation of, TargetSubA, for the purposes of determining whether Target Partnership A Units were capital property owned by New Amalco on the Take-Up Date, and for the purposes of determining when AcquisitionCo last acquired control of New Amalco. ...

If the answer to this question is sufficiently clear, then the following question should be considered. 2. ... When compensation is received for the loss or destruction of capital property, the amount of the compensation is considered to be proceeds of disposition received on the disposition of that property, whereas any compensation received for the loss or destruction of inventory or for loss of profits is considered to be income from carrying on a business or income from property, as appropriate. ... A property is considered to be a replacement property for a former property only if the conditions outlined in subsections 13(4.1) (footnote 4) or 44(5) are met and the taxpayer specifically elects to have the replacement property rules apply. ...

As such, all of the RPP, RRSP, OAS, CPP and QPP payments to the Taxpayer should be considered "pension" for the purposes of the Treaty. ... Conversely, a payment from an RRSP before maturity or in full or partial commutation of the retirement income under an RRSP (such as a lump-sum payment described in the hypothetical circumstances above) is not considered to be a "periodic pension payment" under paragraph 5(a) of the Income Tax Conventions Interpretation Act. ... However, since the Taxpayer will be disposing of property (i.e., land) that is located in the province of Quebec and considered "taxable Quebec property" under the Quebec legislation, the disposition of such property is taxable in Quebec as income earned in Quebec. ...

Paragraph 2.8 of the Tuition Folio states that, generally, for a course to be considered to be at the post? ... Although it is a question of fact, it is likely that the courses would be considered to be at the post-secondary school level. ... You have indicated that the students enrolled in the various XXXXXXXXXX programs are generally taking courses concurrently while working, and it is your view that they would likely be considered part-time students. ...

It is our view that the Purchased Shares would not be considered to meet the description in subparagraph (a)(vii) of the definition of "excluded right or interest" in subsection 128.1(10) of the Act for the following reasons. 1. ... Generally, a share in the capital stock of a corporation is considered to be a bundle of rights entitling the holder to certain rights and benefits of the corporation that issued the share. ... If the Purchased Shares are considered excluded rights or interests, Canada would lose the right to tax the gains accrued to the date of departure. ...

For the purpose of applying clause 115(2)(e)(i)(B), you have asked us if the College can be considered to be carrying on a business XXXXXXXXXX? ... Factor to be considered include: The intended course of action- If the rationale for operating a given activity is to generate a profit, then the activity is likely a business. ... MNR, 86 DTC 1286 (TCC): "Although the Courts have considered the term "ordinary course of business" on many occasions, only a very few cases are of assistance in this appeal. ...

Accordingly while the subsequent shareholder will be considered a party to the unanimous shareholder agreement this in itself would not in our view be sufficient basis to conclude that the subsequent disposition of the shares was pursuant to an agreement in writing made before April 27, 1995. ... Where a corporation was the beneficiary of such "temporary coverage" in these circumstances will Revenue Canada confirm that the corporation will be considered to have been a beneficiary of a life insurance policy within the meaning of Clause 57(10)(b)? ... The employee will not have any immediate tax consequences even though the transfer of the policy, in the first case, will be considered a distribution from an RCA resulting in a refund of Part XI.3 taxes. ...

In making the determination, all the facts and details of the specific case would need to be considered. 5.Scenario Five Mr. ... Pursuant to paragraph 85(1)(c.2) of the Act the partnership's cost would be $30,000 and this is the amount that would for purposes of subsection 28(1.2) be considered the amount paid for that part of the partnership cattle inventory. ... Issue Will the shares in the grazing cooperative corporation be considered to be qualifying assets for purposes of the 90% test requirement under the capital gains exemption rules? ...

As a rule, expenses of attending a training course outside a taxpayer's general geographic locale are considered unreasonable to the extent that they exceed what they would have been had a similar course been attended locally, if available. ... Also, if the election had other immediate adverse tax consequences (grinding of credits based on net income, for example), it would be an indication that the individual had considered the election necessary. ... The trust arrangement would also not be considered an "employee trust" as defined in subsection 248(1) of the Act given that the payment would not meet the criteria contained in paragraph (a) of the definition. ...

(iv) Relative Value The amount of the expenditure in relation to the value of the property should be considered. ... They also state that an expenditure which materially improves the property beyond its original condition is often considered capital. ... If a cost has the attributes of both a repair and a betterment, the portion considered to be a betterment is included in the cost of the capital asset. ...