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Our Comments Subparagraph 256(7)(b)(i) provides that control of a corporation is considered not to have been acquired solely because of an amalgamation unless it is deemed to have been acquired by either subparagraph 256(7)(b)(ii) or (iii). ...

The consequences to a trust and a child entering into such a transaction would best be considered after the ability to undertake the transaction is determined by the trustee. ...

As requested, we have reviewed our position and considered the arguments set out in your letter, however, it is still our view that the proposed addition of the conversion right, even if done solely at the issuer’s discretion, constitutes a circumstance under which the issuer of the obligation may be obliged to pay more than 25% of the principal amount of the obligation within 5 years. ...

She does not reside on the reserve but lives with her husband in the town of XXXXXXXXXX For years prior to 1993, (1983 to December 31, 1992) status Indians who were employed by firms resident on a reserve were considered, pursuant to the decision in the Nowegijick case (83 DTC 5041), exempt from taxation whether their employment activities were performed on or off the reserve. ...

Page 11 of the Guidelines provides that: "employer is resident on a reserve" means that the reserve is the place where the central management and control is actually located; (note: the central management and control of an organization will normally be considered to be exercised by the group that performs the function of a Board of Directors of the organization and may be exercised in a place other than the principal administrative office of the organization") Based on your letter it would appear that the Institute is resident off-reserve and hence that Guideline would not apply. ...

In Interpretation Bulletin IT-496 Non-Profit Organizations (the Bulletin), the Department has outlined some of the factors that are considered relevant in determining the exempt status of an entity under 149(1)(l) of the Act and the circumstances under which an entity would lose its exempt status. ...

Under current legislation, where an amount is paid directly from a RRIF to a child of the annuitant because the child is a named beneficiary in the RRIF contract, paragraph 146.3(6.2)(b) of the Act and the postamble of subsection 146.3(6.2) provide that the amount paid will be considered to be a refund of premiums as long as the amount would qualify as such within the meaning of paragraph 146(1)(h), if it had been paid from an RRSP rather than a RRIF. ...

Subsection 212(11) of the Act removes any uncertainty regarding which amounts need to be considered for the application of paragraph 212(1)(c) of the Act. ...

However, the definition for "pension" in paragraph 3 of Article XVII of the UK Convention indicates that periodic pension payments from a RRIF were intended to be considered as pensions for the purposes of Article 17 and that they were to be exempt from tax under paragraph 1 of Article XVII. ...

Subsection 111(5) of the Act provides that, in circumstances where control of a corporation has been acquired, that corporation's existing balance of non-capital losses will generally only be deductible to the extent that the "business" in which the losses were incurred is carried on with an expectation of profit and it can be considered as the same or similar business. ...