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Where the foregoing is established to be the situation, the corporation will be looked upon as merely an agent for the shareholder who will be considered to be the beneficial owner of the property. ... Where it is established that property is held by a corporation as agent for a shareholder, the shareholder will be considered to be the beneficial owner of the property and all the normal consequences of ownership of the property will flow from the arrangement. ...

The payment will not be considered the payment of a premium to the RRSP, nor a gift to an RRSP for purposes of Part X.1 of the Act; by the RRSP or RRIF trust with funds inside the RRSP or RRIF, it is our view that no benefit or amount is received by the annuitant as a consequence. ... In this situation where these fees are paid: by the annuitant, it would not be considered a premium or a gift contributed to the RRSP or RRIF; by the RRSP or RRIF trust with funds inside the RRSP or RRIF, it is our view that the annuitant has received a benefit from the RRSP or RRIF which must be included in income. ...

As regards corporate law liquidity and solvency tests that must be met before dividends can be declared, in our view, the fact that such tests may prevent the payment of dividends should be considered in determining whether subsection 110.6(8) of the Act would apply in a particular circumstance. ... In the situation described in the letter, in our view, the preferred shares would not be considered to have been issued as part of an arrangement to permit any increase in the value of property of the corporation to accrue to the common shares, as they were issued 16 months after the common shares were issued. ...

Principal Issues: Would the fact that an NRO agrees to accept shares of a related company in satisfaction of interest owing to it by that company result in the NRO being considered as trading or dealing in shares for the purposes of definition of NRO in 133(8) of the Act? ... You request that we confirm that the issuance of shares by Opco to NRO does not cause the NRO to be considered to be trading or dealing in securities so as to cause NRO not to be a non-resident-owned investment corporation as defined in subsection 133(8) of the Act. ...

Reasons FOR POSITION TAKEN: The terms of the settlement are considered to be consistent with the Department's position set out in paragraphs 3 and 5 of IT-365R2. ... However, an irrevocable direction will be executed in respect of each annuity contract directing Lifeco A and Lifeco B to make the payments in accordance with 5(ii) above. 9.You have advised and you confirm to the best of your knowledge that none of the issues involved in this ruling request is being considered by a Tax Services office or a Tax Centre in connection with a tax return already filed and none of the issues is under objection. ...

Where a bank account is considered to be situated at a location on reserve, this is one factor to weigh in determining whether interest earned on deposits in that account is exempt from taxation. ... Her Majesty the Queen (94-1971(IT)G), the Tax Court of Canada considered the taxability of income earned by an Indian living on reserve, from investments purchased from an on reserve branch of a bank. ...

Where a bank account is considered to be situated at a location on reserve, this is one factor to weigh in determining whether interest earned on deposits in that account is exempt from taxation. ... Her Majesty the Queen (94-1971(IT)G), where the Tax Court of Canada considered the taxability of income earned by an Indian living on reserve, from investments purchased from an on reserve branch of a bank. ...

You have not indicated whether the organization is in fact a registered charity within the meaning assigned by subsection 248(1) of the Act and it is unlikely that the organization would be considered a "Canadian municipality". ... Further, in order for a donation to be considered a gift, it must be made without conditions, from detached and disinterested generosity, out of affection, respect, or charity or like impulses, and not from the constraining forces of any moral or legal duty. ...

Subparagraph 60(j)(ii) of the Act permits a deduction for the portion of a lump-sum payment out of a FRA that can reasonably be considered to derive from contributions to the FRA made by the taxpayer or the taxpayer's spouse or former spouse. ... The taxes withheld by the administrator of the IRA is considered to be non-business taxes paid to the United States. ...

A corporation the shares or capital of which were owned 90% or more by an Indian band could qualify for exemption under paragraph 149(1)(d), only if the band were considered to be a municipality in Canada which is itself exempt by virtue of paragraph 149(1)(c). ... It is a question of fact as to whether an Indian band may be considered to be a public body performing a function of government in Canada or a Canadian municipality. ...