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Definition of Related Companies and Eligibility for Group Relief For the purpose of group relief, the meaning of related companies is provided in subsection 44A(3) of the ITA. Companies in the same group qualify as related companies if the ordinary shareholding level of at least 70% is satisfied.
Related Company means any corporation, partnership, joint venture, limited liability company or other entity during any period in which a controlling interest in such entity is owned, directly or indirectly, by the Company (or by any entity that is a successor to the Company), and any other business venture designated by the Committee in which ...
Related Companies means (i) any Person during any period in which it owns, directly or indirectly, at least 50% of the voting power of all classes of stock of the Company (or successor to the Company) entitled to vote; and (ii) any Person during any period in which at least a 50% voting or profits interest is owned, directly or indirectly, by ...
This Ruling provides an explanation on the determination of the residence status of companies and bodies of persons. The provisions of the Income Tax Act 1967 (ITA 1967) related to this Ruling are section 8 and subsection 61(3). The words used in this Ruling have the following meaning:
Feb 16, 2016 · In addition to the various schedules required to support the income tax computations applicable to the T2 corporate tax return, all corporations are required to disclose whether or not they are related or associated with at least one other corporation.
Definition: Related companies are companies that do not have an arm’s-length relationship (e.g., a relationship involving independent, competing interests). This could be due to both companies being part of the same business group or could stem from family or personal ties between officials of two companies. Domain: Finance. Source:
Jan 1, 2024 · Two companies are considered affiliated when they are related in some way to one another. The relationship can be based on ownership interest, control, sharing of employees or facilities, and other factors.
Section 45 of the Act lays out the foundation for related-company use, defining a “related company” as any person whose use of a mark the owner controls with respect to the nature and quality of goods or services associated with the mark.
Define AFFILIATED OR RELATED COMPANIES. means entities that are related as parent or subsidiary or are characterized by identity of ownership; or an entity that directly, or indirectly (through one or more intermediaries) controls, is controlled by, or is under common control with another entity.
Sep 28, 2020 · Assessing whether or not corporations are related and associated is important as this can result in various tax consequences to consider such as how to share the small business deduction on the T2. The purpose of this memo is to highlight what these terms mean and how to assess if companies are associated /related.
