John Tobin, "Infrastructure and P3 Projects", 2017 Conference Report (Canadian Tax Foundation), 10:1-31

Meaning of substantially complete in the construction industry (p. 10:6)

[T]he term “substantially complete" is therefore an undefined term that...

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Words and Phrases
substantially complete

Distinction between cost-reduction of interim progress payments received and income-account treatment of phase-completion payments (p. 10:9-10)

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Whether P3 progress payments are cost reductions or revenue (p. 10:9-10)

One challenge is determining how to treat progress payments during the...

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Whether 2-year rolling-start rule in s. 13(27(b)) should be applied to Class 14 property acquired in a P3 construction project on an...

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Application of s. 7 to a lease-in lease-out structure re student residence (p. 10:11)

[S]ection 7 of schedule V provides an exception for certain...

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Whether non-recourse nature of partnership-level debt is a loss-reducing benefit to a partner (p. 10:12)

[O]ften, debt to Projectco’s partners...

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see also authorities listed under Reg. 231(6) et seq.

Government progress payments (treated as s. 13(7.1) capital cost deductions) are prescribed benefit under Reg. 3100(1)(b) (p. 10:15)

[T]o the...

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P3 project likely flunks the mathematical test at financial close given that costs not yet incurred (p. 19:16)

In regard to the investment in the...

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TCP status on loans to P3 Projecto LP potentially avoided if partners of non-resident collective investment vehicle partnership lend directly to...

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Application of thin cap rules to a non-resident (collective investment vehicle) partnership lending to a P3 Projectco (pp. 10:24-25)

[F]or the...

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Inapplicability of transfer-pricing arm’s length standard to s. 20(1)(c) reasonable amount test (pp. 10:26-27)

GlaxoSmithKline…emphasized the...

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S. 212(13.1)(c) precludes transparent treatment of controlling NR partnership

Subsection 18(7) does not apply for withholding tax purposes. If a...

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