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To the best of your knowledge and that of TradeCo, none of the issues involved in this ruling request: i. is in an earlier return of TradeCo or a related person; ii. is being considered by a Tax Services Office or Taxation Centre in connection with a previously filed tax return of TradeCo or a related person; iii. is under objection by TradeCo or a related person; iv. is before the courts; or v. is the subject of a ruling previously considered by the Income Tax Rulings Directorate. ...

You will note that the annuitant is considered to have received proceeds of disposition in respect of the disposition of the property equal to the fair market value of the property on the contribution date and the premium received by the RRSP (i.e. the amount that can be claimed as a contribution to the RRSP) is also equal to the fair market value of the property on the contribution date. ... Where property is extracted from the RRSP in respect of the withdrawal of undeducted RRSP contributions, the fair market value of the property at the time the property is withdrawn will be considered the amount withdrawn from the RRSP for the purposes of applying subsection 146(8.2) of the Act. ...

Paragraph 110.6(14)(f) deems the newly issued shares to be owned by an unrelated person. 2003-001269 XXXXXXXXXX Karen Power, CA (613) 957-8953 April 23, 2003 Dear XXXXXXXXXX: Re: "Qualified Small Business Corporation Share" We are writing in reply to your letter of March 14, 2003, wherein you requested our views on whether certain shares would be considered "qualified small business corporation shares" as defined in subsection 110.6(1) of the Income Tax Act (the "Act"), by virtue of subparagraph 110.6(14)(f)(ii) of the Act. ... Generally, where 90% or more of the assets of the business are disposed to a corporation, all or substantially all of the assets of such business will be considered disposed of to that corporation. ...

An estate is considered to be a personal trust and a testamentary trust for Canadian tax purposes. ... The income of a trust will generally only be considered to be payable to the beneficiary if it is paid to the beneficiary or the beneficiary is entitled to enforce payment of such income. ...

REASON FOR POSITION TAKEN: The terms of the settlement are considered to be consistent with CCRA's position set out in IT-365R2. ... To the best of your knowledge, and that of the taxpayer involved, none of the issues contained herein is: (i) dealt with in an earlier tax return of the Claimant or a related person; (ii) being considered by a tax services office or taxation center in connection with a previously filed return of the Claimant or a related person; (iii) under objection by the Claimant or a related person; (iv) before the Courts or, if a judgment has been issued, the time limit for appeal to a higher court has expired; or (v) subject of a ruling previously issued by the Income Tax Rulings Directorate. ...

., "where an individual is acting on behalf of or representing a corporation (or partnership) as a director and the fees in respect of such services are paid directly, or are turned over by the individual, to the corporation (or partnership), those fees are considered to be income of the corporation (or partnership) and not of the individual", is withholding required. ... Your letter indicated that the fees received by lawyers while acting as directors of client companies must be turned over to the firm and are included in its income in accordance with the position outlined in paragraph 4 of Interpretation Bulletin IT-377R, Director's, Executor's and Juror's Fees, which states: Where an individual is acting on behalf of or representing a corporation (or partnership) as a director and the fees in respect of such services are paid directly, or are turned over by the individual, to the corporation (or partnership), those fees are considered to be income of the corporation (or partnership) and not of the individual. ...

Principal Issues: Is the accrued gain realized by a trust on the distribution of property to a n/r beneficiary considered payable to that beneficiary in the absence of an election under 107(2.11)? ... You ask whether the Canada Custom and Revenue Agency takes the view that, where the trustee has not made an election under paragraph 107(2.11)(a), a distribution of property to a non-resident beneficiary necessarily results in the amount of any taxable capital gain realized as a result of the distribution being considered to be payable to that non-resident beneficiary such that the trustee would be required to remit Part XIII tax on behalf of the non-resident beneficiary in respect of such amounts. ...

The Guidelines also explain that the value of any "complimentary benefits" to the donor will be considered an advantage unless the aggregate value of such benefits, per ticket sold, does not exceed the lesser of 10% of the ticket price and $75 ("the de minimis rule"). ... Therefore, the de minimis rule does not apply and the eligibility to win a raffle prize is an advantage to the donor, the value of which must be considered in computing the eligible amount of the donor's gift. ...

As a general rule, however, an allowance that is designed to cover an employee's out-of-pocket costs for the use of the motor vehicle during the course of performing the duties of employment, is considered a reasonable allowance for purposes of paragraph 6(1)(b) of the Act. ... In a situation where an employee receives a reasonable per-kilometre allowance for business travel outside the metropolitan area in which the business is located and a flat-rate allowance that is only for business travel within the metropolitan area, each allowance is considered separately in determining whether subparagraph 6(1)(b)(x) of the Act applies. ...

Further to paragraph 10 of Interpretation Bulletin, IT-516R2, where a university or college considers that the students enrolled in their programs are in full-time attendance, they are generally considered to have met the full-time attendance requirement. However, a student is not considered to be in full-time attendance at a university outside Canada where the courses taken are less than 13 consecutive weeks duration, are only by correspondence or by via distance learning (Internet), or where the student is carrying only a minor course load and is devoting much of his or her time to money earning activities. ...