Search - considered

You indicated that the parties actually considered the effective date of the share sale as being XXXXXXXXXX, but that the purchase and sale agreement (and presumably the share register of Xco) indicates that the effective date of the share sale was XXXXXXXXXX. ... Any request to vary the income tax consequences of transactions that have already taken place will only be considered if such variance would amount to a rectification of an error and only if there is unequivocal evidence substantiating the fact that an error was made. ...

However, the deductibility of the Members' union dues under subparagraph 8(1)(i)(iv) or paragraph 8(5)(c) should be considered as well as the application of paragraph 6(1)(j) of the Act. ... Whether the Disbursement can reasonably be considered to be a reimbursement of the Members' union dues such that an income inclusion will arise under paragraph 6(1)(j) of the Act, is a question of fact. ...

Some criteria to be considered could be: Is the minority shareholder and employee also a director of the corporation? ... Although, there is no limit as the amount of scholarship, bursary or free tuition to be reported as income, the 2010 Budget clarified that an amount will be eligible for the scholarship exemption only to the extent it can reasonably be considered to be received in connection with enrolment in an eligible educational program for the duration of the period of study related to the scholarship. ...

Generally, eligible tuition fees are described in paragraph 26 of the Interpretation Bulletin IT-516R2 and relate primarily to the process of instruction whereas the fees described in paragraph 27 of IT-516R2 relate to some other goods or services provided by the educational institution and are not considered eligible tuition fees. In our view, where the fees relate only to a placement fee charged in order to allow the student to receive employment during a semester while gaining experience in a particular field, the fee is not to be considered tuition, however, where the fee pertains to instruction and is a requirement of an academic program, the fee would be eligible to be included in the tuition fee. ...

In addition, for payments made after 2009, Treaty benefits are not available if the Limited Partner is considered not to have derived the dividends or interest by reason of Article IV(7)(b) of the Treaty. ... Therefore, assuming that the Limited Partner were a qualifying person, Article IV(7)(b) of the Treaty would apply to the dividends or interest paid or credited by Canco to the US LP after 2009 with the result that the dividends and interest would be considered not to be paid to or derived by the Limited Partner. ...

The sale of interests in the Partnership, in and of itself, is not considered to be a business carried on in Ontario for purposes of deeming a PE to exist under the CTA. ... The sale of interests in the Partnership in Canada, in and of itself, would not be considered to be a business carried on in Canada. ...

Where an individual who is both a shareholder and an employee receives a benefit, it may be considered a taxable benefit as a shareholder under subsection 15(1) or a taxable benefit from employment under paragraph 6(1)(a). ... Therefore, benefits received after employment has been terminated would be considered to be received in respect of employment. ...

Despite the argument put forward by the University that the Employee is expected to conduct research and engage in other scholarly activities during the sabbatical period, a sabbatical is considered a leave from duties of employment in order to pursue these activities. ... Therefore, during the sabbatical period, the Employee cannot be considered to be "performing duties of employment" on a reserve and his employment income is not exempt from tax under Guidelines 1 or 3. ...

Page 7 of CRA guide P102 indicates that an amount paid as one lump sum will generally not be considered a support payment because it is not paid on a periodic basis. Further, a lump sum payment made under a court order or written agreement for a period before the date of the order or agreement will generally not be considered a support payment. ...

24 June 2010 External T.I. 2010-0367031E5- QSBCS- 24 Month Holding Period Unedited CRA Tags 110.6(1),110.6(2.1),110.6(14)(f) Principal Issues: Do shares issued from treasury have to be held 24 months preceding the time of disposition to otherwise be considered QSBC shares eligible for the capital gains deduction? ... Your question concerns whether or not shares that were not owned by an individual for a minimum 24 month period immediately preceding the time of disposition may be considered eligible for the capital gains deduction provided in subsection 110.6(2.1) in respect of a "qualified small business corporation share" ("QSBCS"), as defined in subsection 110.6(1).. ...