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However, as stated in paragraph 16 of IT-305R4, the renting of real estate at market value or the lending of money on commercial terms will generally not be considered to result in someone receiving or otherwise obtaining the use of trust property. ...

In any event, a request cannot be considered for a ruling when the transactions are completed or where the issues involved are primarily questions of fact. ...

It is our view that the Norwegian resident would not be considered to be carrying on activities in Canada in connection with the exploration or exploitation of the seabed and subsoil and their natural resources in cases where the only activity of the Norwegian resident is to rent moveable property used in offshore activities in Canada. ...

A corporation's securities of the same class are generally considered to be "identical properties". ...

Further, since a unit of a mutual fund trust represents a beneficiary's interest in the assets of the trust, it would not generally be considered to be a type of indebtedness as described in the definition of specified debt obligation. ...

Based on the limited information provided to us, we are unable to determine whether XXXXXXXXXX has undertaken a project sponsored by a government in Canada or whether the financial incentive can be considered an earnings supplement. ...

We understand that, to the best of your knowledge and that of the taxpayer, none of the issues involved in the Ruling request: (i) is in an earlier return of the Company 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 the Company or a related person; (iii) is under objection by the Company or a related person; (iv) is before the courts; or (v) is the subject of a Ruling previously issued by this Directorate to the Company or a related person. ...

Paragraph 251(1)(b) states that for the purposes of the Act: a taxpayer and a personal trust (other than a trust described in any of paragraphs (a) to (e.1) of the definition "trust" in subsection 108(1)) are deemed not to deal with each other at arm's length if the taxpayer, or any person not dealing at arm's length with the taxpayer, would be beneficially interested in the trust if subsection 248(25) were read without reference to subclauses 248(25)(b)(iii)(A)(II) to (IV); (emphasis added) Based on the above, the Common Beneficiary is a person who is "beneficially interested" in Trust 1 and Trust 2 and as such is considered to not deal at arm's length with either trust under paragraph 251(1)(b) for the purposes of the Act. ...

As noted above, however, we cannot comment as to whether an amount under a specific arrangement would be considered payable in the context of a technical interpretation. ...

We also considered whether section 7 of the Act might be applicable instead of paragraph 6(1)(a). ...