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You are therefore considered to have received an advantage of $150. The eligible amount of the gift is $850 ($1,000 − $150). ...

Footnotes Footnote 1 A vehicle in this category is considered a motor vehicle if it is used mainly to transport goods, equipment, or passengers while earning or producing income at a remote work location or at a special worksite that is at least 30 kilometres from the nearest community having a population of at least 40,000. ...

Note If you made an election to have your same-sex partner considered your common-law partner for 1998, 1999, or 2000, then, for those years, your common-law partner also could not designate a different housing unit as their principal residence. ...

The following examples are two different circumstances that are clear examples of what the CRA sees as carrying on a business: If your organization engages in a one-time sponsorship deal, it would not generally be considered as "carrying on" a business; and Making sales or providing services on a regular daily or even weekly basis, with the operation requiring ongoing care and attention, would likely be viewed as "carrying on" a business. ...

To be eligible for the DTC, you must have limitations, all or substantially all of the time (at least 90% of the time), in two or more of the DTC categories, so that the cumulative effect of the limitations when considered together is equivalent to having a marked restriction in a single DTC category. ...

For Michel’s TFSA contributions to be considered a qualifying transfer, with no tax consequences, Bank “A” must complete a direct transfer of funds to Bank “B.” ...

Example – Gifts and awards taxable benefit calculation Example If you give your employee two valid gifts or awards with a combined total fair market value of $700, a mug valued at $5, a valid long service award valued at $475 and finally, a gift of $200 in cash, the calculation would be as follows: Example – Calculating the taxable fair market value of gifts and awards Item Column A – FMV of the Gift or Award Column B – FMV of the Long Service Award Column C – FMV when item falls outside our gifts and awards policy Gift 1 $250 Gift 2 $450 Long service award $475 Gift-Cash $200 The $5 mug is of trivial value and is not considered a taxable benefit. ...

The penalty is: 3% if the amount is one to three days late 5% if it is four or five days late 7% if it is six or seven days late 10% if it is more than seven days late, or if no amount is remitted Example A remittance that was due in January of the current year (for deductions made in December of the previous year) is considered late when paid with the previous year’s information return (T4, T4A) and this return is filed after the remittance due date. ...

However, in the case of charter flights paid or payable in Canada, the charterer is considered the taxpayer and ATT is incorporated in the price of the ticket as a cost element passed on to the passenger. ...

This is usually a capital gain because your mutual fund investment is usually considered capital property for tax purposes. ...