,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

          ,9t]pret,n ,bullet9
    

,subject3 ,9come ,tax ,act
  ,b>t] ,transac;ns
,numb]3 ,,it-#dij
,date3 ,july #e1 #aihb
,ref];e3 ,sec;n #c 7al sec;ns #i & #fi7

#a4 ,! purpose ( ? bullet9 is 6\tl9e !
  ,de"p;t's views on ! 9come tax
  implic,ns >is+ f b>t]+4
#b4 ,9 xs simple/ =m1 b>t]+ 3si/s (
  trad+ 0ex*ang+ "o -mod;y = ano!r4
  ,rec5tly1 h["e1 ! practice ( b>t]+ =
  gds & s]vices has evolv$ 96a
  sophi/icat$ -put]-3troll$ sy/em (
  -m]ce prolif]at$ 0fran*is$1 memb]-only
  b>t] clubs1 ": cr$it units possess+ a
  no;nal m"ot>y unit value h 2come a
  m$ium ( ex*ange4
                                      #a
               ,,it-#dij             a#a
#c4 ,a b>t] transac;n is e6ect$ :5 any
  two p]sons agree 6a reciprocal ex*ange
  ( gds or s]vices & c>ry \ t ex*ange
  usu,y )\t us+ m"oy4 ,9 a b>t]
  transac;n 2t p]sons :o >e d1l+ ) ea*
  o!r at >m's l5g?1 x is a funda;tal
  pr9ciple t ea* ( ^? p]sons 3sid]s t !
  value ( :at"e is rcvd is at l1/ equal
  6! value ( :at"e is giv5 up 9 ex*ange
  "!=4

         ,9come ,tax ,implic,ns
            7p>agraphs #d-h7
    
#d4 ,! ,de"p;t takes ! view t b>t]
  transac;ns >e )9 ! purview (! ,9come
  ,tax ,act4 ,s* transac;ns c "!=e
  result 9 9come or exp5se z 3templat$
  0sec;ns #c & #i "!( or c result 9 !
  acquisi;n or 4posi;n ( capital
  prop]ty1 eligi# capital prop]ty1
  p]sonal-use prop]ty or 9v5tory1 dep5d+
  ^u ! circum/.es (! p]sons :o >e b>t]+
                                      #b
               ,,it-#dij             b#a
  &! nature ( t : is b>t]$1 on ! same
  basis z if ca% 0 ! 3sid],n4
#e4 ,9 ! case ( s]vices b>t]$ 0a taxpay]
  = ei gds or s]vices1 ! value ( ^?
  s]vices m/ 2 br"\ 96! taxpay]'s 9come
  ": !y >e (! k9d g5],y provid$ 0hm 9 !
  c\rse ( e>n+ 9come f1 or >e relat$ to1
  a busi;s or a profes.n c>ri$ on 0hm4
  ,examples >e a d5ti/ or ! [n] (a
  plumb+ busi;s :o agrees 6fix "s"o's
  tee? or dra9s 7respectively7 9 return
  = s]vices or prop]ty provid$ 0! o!r
  "py4 ,": ! taxpay] is an employee1
  e4g4 a me*anic1 o3a.nal help giv5 6a
  fr or nei<b\r 9 ex*ange = "s?+ wd
--------------------------------------#b
  n 2 taxa# un.s ! taxpay] made a regul>
  habit ( provid+ s* s]vices = ca% or
  b>t]4
#f4 ,9 ! case ( gds b>t]$ 0a taxpay] =
  ei gds or s]vices1 ! value ( ^? gds m/
  simil>ly 2 br"\ 96! taxpay]'s 9come if
  !y >e busi;s-relat$4 ,= example1 !
  value ( groc]ies giv5 0a groc]      #c
               ,,it-#dij             a#b
  6"s"o 9 ex*ange = "s?+ else m/ 2 br"\
  96! groc]'s 9come4 ,9 a4i;n1 o!r gds
  b>t]$ may give rise 6a capital ga94
  ,s* wd 2 ! case if capital prop]ty 9 !
  =m (a valua# pa9t+1 a sailboat or l&
  is b>t]$ = gds or s]vices4
#g4 ,9 >m's l5g? transac;ns1 ": an am.t
  m/ 2 br"\ 969come or tr1t$ z proce$s (
  4posi;n ( capital prop]ty1 t am.t is !
  price : ! taxpay] wd norm,y h *>g$ a
  /rang] = 8 s]vices or wd norm,y h sold
  8 gds or prop]ty 6a /rang]4 ,! co/ (!
  s]vices1 gds or prop]ty rcvd 0hm is !
  same am.t z ! total value (! gds1
  prop]ty or s]vices giv5 up1 plus any
  ca% giv5 z "p (! b>t]1 & m9us any ca%
  rcvd z "p (! b>t]4 ,! same rules wd
  apply 9 non->m's l5g? transac;ns1
  subject 6! provi.ns ( sec;n #fi : wd
  ov]ride !m ": appropriate1 e4g4
  0re/rict+ ! co/ ( gds rcvd 6_! fair
  m>ket value4
#h4 ,": ! gds or s]vices giv5 up _c
  r1dily 2 valu$ b ! gds or s]vices   #d
               ,,it-#dij             b#b
  rcvd c1 ! ,de"p;t w norm,y a3ept !
  value (! latt] z 2+ ! price at : !
  transac;n took place if ! "pies 7 d1l+
  at >m's l5g?4



















                                      #e