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Hence, in the given instance, the deceased would not be considered in the determination of a "resident contributor". ... However, paragraph 94(4)(c) of the Act provides that a deemed resident trust under subsection 94(3) is not considered resident in Canada for the purposes of determining the liability of a person (other than the trust) to withhold and remit under section 215 of the Act. ...

24 October 2014 Internal T.I. 2013-0473751I7- Gold Indian investment CRA Tags 81(1)(a) Principal Issues: Income tax treatment of gold investment by status Indian Position: It depends on application of connecting factors to each case Reasons: Gold-trading considered an adventure or concern in the nature of trade (business). ... Thus, although the activity of purchasing and selling gold bullion is considered to be a business or an adventure or concern in the nature of trade, the taxpayer may choose to report the business profit or loss that is generated as a capital gain or loss for tax purposes. ...

The CRA has stated that "[m]aintaining reasonable operating reserves or bank accounts required for ordinary operations will generally be considered to be an activity undertaken to meet the not-for-profit objectives of an organization" (2010-0380581I7). ... As explained in Interpretation Bulletin IT-496R, "Non-Profit Organizations", the amount of accumulated excess income considered reasonable in relation to the needs of an organization to carry on its not-for-profit activities and goals is a question of fact in each situation to be determined with regard to the organization's particular circumstances. ...

You have asked that we confirm that an Employee RCA Contribution made by an eligible member XXXXXXXXXX will be considered to satisfy the condition of employment requirement in paragraph 8(1)(m.2) of the Act and therefore deductible in computing the employee's income (assuming all of the other conditions in that paragraph are met). ... In our view, the Employee RCA Contributions described above are more analogous to the contributions described in the second example than those described in the first example and thus we would expect that they would be considered required by the terms of the member's employment for the purposes of paragraph 8(1)(m.2) of the Act. ...

To determine “necessity”, both subjective and objective factors are considered by the CRA. ... Some of the factors considered are outlined in paragraphs 15 and 16 of IT-120R6, which include the following: the size and character of the housing unit together with its location on the property; whether the extra land is necessary for access to and from public roads; whether extra land is required as drainage fields for septic tanks; whether the land has the physical characteristics feasible for subdivision; and whether there is a minimum lot size, severance, or subdivision restrictions associated with the property. ...

However, when the time spent on reserve is considered incidental, the employment income will not qualify for the exemption. ... Similarly, time spent in flight between reserves would generally not be considered to be time spent on a reserve. ...

18 June 2014 External T.I. 2014-0534261E5- Restricted Farm Losses CRA Tags 31(2) 31(1) Principal Issues: Whether losses under various scenarios would be considered restricted farm losses? ... However, this requirement is generally considered to have been met when the person is "actively engaged" in the management and/or day-to-day activities of the farming business. ...

Therefore, the court concluded that where a shareholder provides a guarantee without charging a “guarantee fee” or provides an interest free loan to a corporation in order to provide capital to that corporation, a clear nexus exists between the taxpayer and the potential future income This case considered a situation where the taxpayer does not hold shares in the borrower corporation, but rather is a shareholder of a parent company or other shareholder of the borrower corporation. ... Based on the limited information you have provided, we are unable to comment on whether or not the corporation otherwise satisfies the criteria for the payment of the loan to be considered an ABIL. ...

1 September 2015 Internal T.I. 2015-0605491I7- In-kind transfer of property from an RRSP to an IPP CRA Tags 207.01 207.05 Principal Issues: Whether the in-kind transfer of property from an individual's RRSP to an individual pension plan, pursuant to paragraph 146(16)(a) of the Income Tax Act, can be considered a swap transaction or RRSP strip, and thus give rise to Part XI.01 advantage tax. ... An RRSP strip is also considered an advantage. Swap Transaction A swap transaction, as defined in subsection 207.01(1), is any transfer of property between a registered plan (i.e. ...

Paragraph 3.7 of the Guidance provides clarifying language regarding the definition of “Depository Institution” in the context of certain activities characteristic of a MSB, stating the following: Facilitating money transfers by instructing agents to transmit funds (without financing the transactions) is not seen as the acceptance of a deposit and an entity will not be considered to be engaged in banking or similar business or a depository institution because of this activity alone. Whether or not a particular entity which carries on a MSB would be considered a Depository Institution as defined in subparagraph 1(i) of Article 1 of the IGA is a question of fact and beyond the scope of this request. ...