16 March 2009 Interpretation Case No. 110027

Policy Tabs

Summaries

Summary Under

A real estate nominee not only holds legal title to project real property but also, at the direction of the beneficial owners, enters into...

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Summary Under

beneficial owners rather than nominee for condo project are considered to be engaged in commercial activity

After stating that "the categorization of the Nominee as an active or bare trust is significant as it dictates who, between the Beneficial Owner...

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Summary Under

real estate nominee can make election

CRA noted that a nominee corporation for beneficial owners engaged in a condominium development could make the s. 177(1.1) election. CRA...

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