Cases
McNeeley v. Canada, 2021 FCA 218
A distribution to an employee under an employee benefit trust (EBP) is taxable under s. 6(1)(g) rather than being subject to the usual trust...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Employee Benefit Plan | plan that came within EBP and Reg. 4800.1 descriptions was to be treated as an EBP | 631 |
| Tax Topics - Statutory Interpretation - Regulations/Statutory Delegation | principle that the Act must prevail over an overlapping Regulation | 243 |
See Also
McNeeley v. The Queen, 2020 TCC 90, aff'd 2021 FCA 218
The founding shareholder of a software company received the lion’s share of a distribution of the company shares held by an EBP. Before...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Employee Benefit Plan | a substantial distribution from an EBP to the founding shareholder was made to him qua employee, and was taxable | 515 |