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Consequently, that portion of the borrowed money will satisfy the use test in subparagraph 20(1)(c)(i) of the Act, and the property will continue to be considered a source of income of the taxpayer even though the taxpayer may have disposed of it. ... In your case, the property under consideration is a rental property, which is considered a depreciable property and, therefore, falls within the exception to the application of subsection 20.1(1). ...

Assume that the LLC is considered to be a corporation for purposes of the Act, but is treated as a partnership under U.S. tax rules and is not liable to tax in the U.S. ... OUR COMMENTS Because the LLC is considered to be a corporation for purposes of the Act, the term "non-resident person" in section 116 in this scenario would be read as a reference to the LLC. ...

Other factors that were considered relevant, but not necessarily of equal significance, are: the place where decisions affecting the business are made; the type of business and the nature of the work; the place where the payment is made; the degree to which the business is in the commercial mainstream; the location of a fixed place of business and the location of the books and records; and the residence of the business' owner. ... If only a very small portion of the income-earning activities take place on a reserve, these activities may be incidental to the business, which is therefore considered to be operated off a reserve. ...

The rental income received by the Trust from the franchisor and distributed by the Trust to the minor children and grand-children would meet all requirements of the Definition, if it is found that the Opco's premises (building) leased from the franchisor can be considered to be property that the Trust provides "to or in support of" Opco's business, as required by clause (c)(ii)(C) of the Definition. Your question concerns the application of clause 120.4(1)(c)(ii)(C) of the Definition, and in particular whether Opco's leased premises can be considered to be property that the Trust provides "to or in support of" the business of Opco, or only "to or in support of" the business of the franchisor. ...

In applying proposed subsection 248(35) of the ITA to a gift of a life insurance policy, the fair market value of the policy otherwise determined and the cost of the policy must be considered. ... Factors to be considered in the determination of fair market value include, (a) cash surrender value, (b) the policy's loan value, (c) face value, (d) the state of health of the insured and his/her life expectancy, (e) conversion privileges, (f) other policy terms, such as term riders, double indemnity provisions, and (g) replacement value. ...

The policy is an administrative accommodation, which under certain circumstances permits the fees to be considered the income of a partnership or corporation and not that of the individual director. ... A non-resident director is not considered to be employed in Canada for the purposes of the Act, if he or she does not attend any meeting or perform any other functions in Canada. ...

It is our view that there would not be a disposition of the Canco shares for the purposes of the Act if under the relevant corporate law Delaware LLC is considered to be the same corporation as the corporation that was converted, i.e. if Georgia Co. did not cease to exist. This is because if Georgia Co. becomes a Delaware LLC the same person would be considered to continuously hold the Canco shares for the purposes of the Act and as such, the transaction would be excluded from paragraph (e) of the definition of "disposition" in subsection 248(1) as there would be no change in beneficial ownership. ...

Therefore, a condominium corporation is not considered to be an eligible individual for purposes of the HRTC and will not be permitted to claim or receive the HRTC on behalf of the unit owners. ... A family will generally be considered to consist of an individual, his or her spouse or common-law partner, and their children who are under the age of 18 throughout 2009. ...

It is the CRA's general view that an employee will be considered to have received taxable employment benefit when the employee is reimbursed, in whole or in part, for the cost of an asset which the employee will own, notwithstanding that the particular asset may otherwise be used for employment-related purposes. ... However, notwithstanding the above, the CRA has considered several programs whereby employers have provided their employees with personal computers, printers, software, and/or internet access for the purpose of developing their employees' computer and internet skills. ...

Meal expenses Although meals are generally considered to be a personal or living expense, paragraph 18(1)(h) of the Act identifies an exception to this rule with respect to travel expenses incurred by a taxpayer while away from home in the course of carrying on the taxpayer's business. In other words, even though meals or accommodation would normally be considered a personal or living expense, paragraph 18(1)(h) of the Act permits a deduction for such expenses if they are incurred for the specific purpose of earning income from business and while away from home in the course of carrying on that business. ...