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Since the payments under the Self Managed Care Project are made "on a means, needs or income test" they are considered to be social assistance payments for purposes of paragraph 56(1)(u) and subparagraph llO(l)(f)(iii) of the Income Tax Act. ...

As the legal fees were not incurred in respect of a business and also were not incurred for the purpose of gaining or producing income from a business they would not be considered "eligible capital expenditures". ...

You have asked whether, in calculating the AMT in the above situation, the $50,000 deducted under section 110.6 would be considered to have been deducted for the purpose of calculating "adjusted taxable income" under section 127.52 of the Act. ...

Will the beneficiary be considered to have a substantial interest, within the meaning of subsection 191(2), in the corporation? ... The amount, if any, that is considered to be reasonable will be based on the facts of each particular case. ... 2) What deductions will be considered favourably? 3) Is there a threshold amount below which a reduction will not be considered? ...

Immediately following the Amalgamation, the issued share capital of DC consisted of XXXXXXXXXX DC Common Shares held by Foreign Pubco, which shares were considered to be newly issued shares of DC under the XXXXXXXXXX. ... (c) For greater certainty, for purposes of the determination described in this Paragraph 49: (i) the amount of any deferred income tax was not considered to be a liability for the purposes of the Subject Transactions described herein because such amount did not represent a legal obligation; (ii) amounts owing that had a term of less than XXXXXXXXXX months or are due on demand were considered current liabilities; (iii) current liabilities included amounts normally classified as current liabilities, including accounts payable, bonuses payable, and the current portion of any long term debt; and (iv) no amount was considered to be a liability unless it represented a true legal liability that was capable of quantification. ... The First Dividend will be considered to be paid out of previously taxed income, for US tax purposes, that can be distributed to Foreign Pubco without additional US tax. ...

Any of OT's debts for which the property so transferred cannot reasonably be considered to be security shall be repaid before this proposed transaction. ... The OT will not, solely by virtue of the amendments referred to in 56 above, be considered to have disposed of its property or resettled a new trust. ... Target will not, solely by virtue of the amendments referred to in 28 above, be considered to have disposed of its property or resettled a new trust. ...

Revenue Canada has considered that such a purpose is present if an outlay is made with an expectation of profit. ... Subsection 245(2) of the Act was considered applicable to require an inclusion in income of the cash held by a distributor. ... Unusual items such as deferred charges should be considered as a possible way of circumventing the 95% debt limit. ...

We understand that to the best of your knowledge, and that of the taxpayers involved, none of the matters considered in this ruling request are: a) in an earlier return of the taxpayers or related persons; b) being considered by a tax services office or tax centre in connection with a previously filed tax return of the taxpayers or related persons; c) under objection by the taxpayers or related persons; d) before the courts; or e) the subject of a ruling previously issued by this Directorate to the taxpayers or related persons. ... Pursuant to paragraph (h) of the definition of "disposition" in subsection 248(1), Newco-Amalco will not be considered to have a disposition of the Fund Units as a result of the distribution made by the Fund to Newco-Amalco (as described in paragraph 79). ... More particularly, you did not request, nor have we considered or given any ruling with respect to any other aspect of the Facts stated above (including the Facts Relating to the Acquisition of the Fund) or any other aspect of the taxation of the Fund. ...

Therefore the affilate must be resident in the same country under both tests in order to be considered "resident in a designated treaty country". ... In this example the shares of S4 would not be considered excluded property. ... It is a question of fact whether a partnership, and thereby its members, is considered to be carrying on a trade or business. ...