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Please note that we have not considered the effect of other potential rights of setoff or rights of combination on the qualification of an account as a TFSA. ...

Only the expenses that are reasonable to consider to be attributable to the activities generating the income described in subparagraph (a)(i) of the definition of SCI should be considered. ...

For purposes of our response, we have assumed the trust meets the criteria to be considered an “alter ego trust” as described in the Act; however, we note that the determination of whether the terms of the trust’s indenture meet the conditions in clause 104(4)(a)(iv)(A) of the Act is a question of fact and law. ...

The courts have considered a list of generally accepted characteristics of a conjugal relationship, which include shared shelter, sexual and personal behaviour, services, social activities, children, the societal perception of the couple, and economic support. ...

As a result, it is our view that a foreign exchange gain or loss in respect of a debt obligation would be considered to have been made or sustained by the debtor upon the settlement or extinguishment of the debt, which can occur on the repayment, legal novation or rescission and substitution of the debt and would result in the creditor realizing or incurring a corresponding foreign exchange gain or loss, as the case may be. ...

Paragraph (c) of the definition of “split income” includes “a portion of an amount included because of the application of subsection 104(13) or 105(2) in respect of a trust (other than a mutual fund trust or a trust that is deemed to be in existence by subsection 143(1)) in computing the individual’s income for the year…..” that can reasonably be considered to be in respect of certain types of income such as certain income derived from the provision of services (such as in the scenario you have provided). ...

Given that Article 12(2) of the Treaty grants X a reduced 10% rate of withholding tax, such income would be considered to be “relieved from tax” in Canada under that Article for the purposes of Article 27(2). ...

In the case of an aborted attempt to acquire shares of a corporation, the purpose test described above would not be met and these costs would not be deductible as current expenditures nor would they be considered to be eligible capital expenditures. ...

Subsection 75(2) of the Income Tax Act (the "Act") applies so that the income of the alter ego trust is considered to be the income of the Settlor, who created the trust and who is, under the trust, a lifetime beneficiary. ...

Where the Loan represents permanent capital, it may be difficult to arrange agreements which will protect Finco from fluctuations in the value of currency which can be considered a hedge as described above. ...