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However, the taxability of annuity payments depends largely on the arrangements and structure of the annuity. b)     Where the capital element of the annuity vests indefeasibly in the beneficiary at the time of purchase, then the individual would be considered to have constructive receipt of the amounts paid by the former employer to purchase the annuity.  ...

The comments expressed are not advance income tax rulings and are not considered binding on the Department, in respect of any taxpayers, in accordance with paragraph 21 of Information Circular 70-6R2 dated September 28, 1990. ...

Further, it is our view that disability insurance premiums cannot be considered to be "a standby charge, guarantee fee, registrar fee, transfer agent fee, filing fee, service fee or any similar fees, for the purposes of paragraph 20(1)(e.1) of the Act and are therefore not deductible under that provision. ...

Furthermore, paragraph 3 of IT-464R states that depreciable property is not considered to be acquired until a capital cost is incurred for the property.  ...

In our view, plans that permit the carry forward of unused amounts in the plan to the following year and the carry forward of unused medical expenses would not be considered to have a reasonable element of insurance. ...

Where a transaction is specifically permitted by an express prevision of the Act, it is the Department's view that such a transaction, in and by itself, will not normally be considered a misuse or abuse of the provisions of the Act for the purposes of subsection 245(4) of the Act. ...

To the extent that the Company's contributions can reasonably be considered to have been used to purchase shares from treasury, it is the Department's position that the provisions of section 7 of the Income Tax Act (the "Act") will be applicable to the Plan. ...

You requested our opinion as to whether the loan made by OP Co. to R Co. could be considered to be as an asset ""used in an active business carried on primarily in Canada by the corporation or a corporation related to it"" for purposes of subparagraph (c)(i) of the definition of "qualified small business corporation share" in subsection 110.6(1) of the Income Tax Act (the ""Act""), the (the "Definition"). ...

Where it is intended that property be transferred between non-arms length parties at fair market value (:FMV") and a note having a face amount equal to the FMV is given in exchange for the property, the transferor will, generally speaking, be considered to have received FMV for the property only where the note bears the market rate of interest applicable at the time of transfer. ...

Our Comments As indicated in paragraph 8 of IT-433, the crop share received by a landlord in a sharecropping arrangement is considered to be rental income and not income from farming.  ...